Finance news

• UPDATE 2-Nike's futures orders surge as demand in China, N. America soars

  22-12-2015 23:59
  
  * Shares rise nearly 3 pct in extended trading (Adds analyst comment; updates shares)
  
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• Google developing new messaging app: WSJ

  22-12-2015 23:18 via news.yahoo.com
  
  (Reuters) - Google, part of Alphabet Inc, is building a new mobile messaging application to better compete with rival services such as those offered by Facebook Inc, the Wall Street Journal reported. The new service would tap into Google's artificial intelligence know-how, integrating chatbots, or software programs that answer questions, inside a messaging app, the Journal reported on Tuesday, citing people familiar with the matter. (http://on.wsj. ...
  
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• Norway's oil fund takes France's Alstom off ethics risk list

  22-12-2015 22:47
  
  OSLO (Reuters) - Norway's $837 billion sovereign wealth fund, the world's largest, has removed French engineering group Alstom SA off its ethics monitoring list, the fund said on Tuesday.
  
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• Wall Street posts gains as oil prices stabilize

  22-12-2015 22:44 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - Wall Street climbed on Tuesday, buoyed by energy shares as sliding oil prices stabilized and by fairly healthy data on U.S. economic growth, while the dollar fell for a third consecutive session. Wall Street has been closely correlated with energy prices in recent weeks as crude has extended a 1-1/2-year slide this month and plumbed fresh multi-year lows. U.S. crude prices settled up 0.9 percent to $36.14 a barrel, as traders squared positions ahead of a t
  
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• Wall Street posts gains as oil prices stabilise

  22-12-2015 22:43 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - Wall Street climbed on Tuesday, buoyed by energy shares as sliding oil prices stabilized and by fairly healthy data on U.S. economic growth, while the dollar fell for a third consecutive session. Wall Street has been closely correlated with energy prices in recent weeks as crude has extended a 1-1/2-year slide this month and plumbed fresh multi-year lows. U.S. crude prices settled up 0.9 percent to $36.14 a barrel, as traders squared positions ahead of a t
  
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• Wall Street rally sends Dow up 1 percent

  22-12-2015 22:42 via news.yahoo.com
  
  Wall Street rallied across the board on Tuesday after oil prices recovered slightly and data showed that the U.S. economy grew at a fairly healthy clip in the third quarter. The Dow Jones industrial average ended 0.96 percent higher, with Caterpillar up 4.86 percent in its biggest one-day gain since October. Oil prices edged up from 11-year lows although persistent global oversupply concerns and tepid demand for heating oil remained in what is likely to be the warmest winter on record.
  
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• Wall St. rallies on energy sector boost

  22-12-2015 22:09 via news.yahoo.com
  
  NEW YORK (Reuters) - Wall Street rallied across the board on Tuesday after oil prices recovered slightly and data showed that the U.S. economy grew at a fairly healthy clip in the third quarter.
  
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• Wall Street rallies on energy sector boost

  22-12-2015 22:08 via news.yahoo.com
  
  NEW YORK (Reuters) - Wall Street rallied across the board on Tuesday after oil prices recovered slightly and data showed that the U.S. economy grew at a fairly healthy clip in the third quarter. The Dow Jones industrial average rose 165.79 points, or 0.96 percent, to 17,417.41, the S&P 500 gained 17.85 points, or 0.88 percent, to 2,039 and the Nasdaq Composite added 32.19 points, or 0.65 percent, to 5,001.11. (Reporting by Chuck Mikolajczak; Editing by Meredith Mazzilli)
  
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• FDA probing latest E.coli outbreak linked to Chipotle

  22-12-2015 21:21
  
  Dec 22 (Reuters) - The U.S. Food and Drug Administration said on Tuesday it is investigating the more recent outbreak of a rare strain of E.coli linked to Chipotle Mexican Grill Inc .
  
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• Wall Street gains as battered U.S. oil prices stabilise

  22-12-2015 21:20 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - Wall Street climbed on Tuesday, buoyed by energy shares as sliding oil prices stabilized and by fairly healthy data on U.S. economic growth, while the dollar fell for a third consecutive session. U.S. crude prices settled up 0.9 percent to $36.14 a barrel. Wall Street has been closely correlated with energy prices in recent weeks as crude has extended a 1-1/2-year slide this month and plumbed fresh multi-year lows.
  
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• Exclusive: Shire closer to deal to buy Baxalta - sources

  22-12-2015 21:19
  
  NEW YORK/LONDON (Reuters) - Drug maker Shire Plchas made a new acquisition offer for peer Baxalta International Incthat is roughly in line with the latter's valuation expectations, making a deal...
  
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• Wall Street gains as battered U.S. oil prices stabilize

  22-12-2015 21:14 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - Wall Street climbed on Tuesday, buoyed by energy shares as sliding oil prices stabilized and by fairly healthy data on U.S. economic growth, while the dollar fell for a third consecutive session. U.S. crude prices settled up 0.9 percent to $36.14 a barrel. Wall Street has been closely correlated with energy prices in recent weeks as crude has extended a 1-1/2-year slide this month and plumbed fresh multi-year lows.
  
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• GLOBAL MARKETS-Wall Street gains as battered U.S. oil prices stabilize

  22-12-2015 21:12 via news.yahoo.com
  
  Wall Street climbed on Tuesday, buoyed by energy shares as sliding oil prices stabilized and by fairly healthy data on U.S. economic growth, while the dollar fell for a third consecutive session. U.S. crude prices settled up 0.9 percent to $36.14 a barrel. Wall Street has been closely correlated with energy prices in recent weeks as crude has extended a 1-1/2-year slide this month and plumbed fresh multi-year lows.
  
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• UPDATE 2-Kyrgyzstan halts talks with Centerra on Kumtor; shares fall

  22-12-2015 20:49
  
  BISHKEK/TORONTO, Dec 22 (Reuters) - Kyrgyzstan's government said on Tuesday it had stopped talks with Canada's Centerra Gold on restructuring their joint Kumtor project because the current agreement...
  
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• Energy stocks fuel rally on Wall Street

  22-12-2015 20:43 via news.yahoo.com
  
  Wall Street rallied on Tuesday as crude oil prices recovered slightly and data showed that the U.S. economy grew at a fairly healthy clip in the third quarter. The Dow Jones industrial average rose nearly 1 percent, with Caterpillar up 5.3 percent and on the way to its biggest one-day gain since October. The materials index rose 1.4 percent, with Dow Chemical up 1.78 percent.
  
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• UPDATE 2-Dominion Diamond working with bankers, open to talks with hedge fund K2

  22-12-2015 19:42
  
  NEW YORK/TORONTO, Dec 22 (Reuters) - Dominion Diamond Corp has been working with its long-time banker Rothschild & Co to find ways to boost shareholder value including a potential sale, according to...
  
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• US economy grew at 2 pct. rate over summer; a pickup is seen

  22-12-2015 18:52 via news.yahoo.com
  
  WASHINGTON (AP) — The U.S. economy grew at a slightly slower pace over the summer than the government had previously estimated. Most economists foresee a slight acceleration in the current quarter and stronger growth in the first half of 2016.
  
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• How to pack light and make your holiday cheaper

  22-12-2015 18:51
  
  NEW YORK (Reuters) - As people enter the holiday rush and head to their vacations, odds are they are laden with multiple heavy bags. And you know what that means: Get the credit card ready for some...
  
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• Spanish stock market rebounds

  22-12-2015 18:21 via news.yahoo.com
  
  Spain's main stock market rebounded Tuesday, recovering some of the ground lost the previous day on the political impasse in the eurozone's fourth biggest economy following an inconclusive election. "With little else in the way of stimulus, European shares tracked the price of oil, giving up early gains then regaining them as the price of Brent crude moved in and out of negative territory," said market analyst Jasper Lawler at CMC Markets UK. Oil prices rose slightly on Tuesday, with the global
  
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• Kyrgyzstan in no gold rush, pulls out of talks with Canada's Centerra

  22-12-2015 17:30 via news.yahoo.com
  
  Kyrgyzstan pulled out of talks Tuesday with Canadian mining company Centerra, the Central Asian country's biggest taxpayer, leaving the future of a key gold mine in limbo just days before its permits expire. Centerra, which is listed on the Toronto stock exchange, had "presented a series of conditions for the registration and governance of the joint venture that were absolutely unacceptable to" Kyrgyzstan, a government statement said. Kyrgyzstan holds a 32.7 percent stake in Centerra, and had be
  
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• New boss in dash for simplicity at bloated Rolls-Royce

  22-12-2015 17:28
  
  FILTON, England, Dec 22 (Reuters) - Twelve months and 80 signatures: that is what it recently took Rolls-Royce to approve a small change requested by a supplier, symptomatic of a business that had...
  
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• U.S. stocks rise, helped by rebound in battered oil prices

  22-12-2015 17:27 via news.yahoo.com
  
  Wall Street rose on Tuesday, buoyed by energy shares as oil prices rebounded off multi-year lows, as investors digested mixed U.S. data about home resales and economic growth. The U.S. dollar fell for a third consecutive session. Oil prices enjoyed a respite from a slide this month that has deepened a 1-1/2-year collapse.
  
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• UPDATE 2-PSivida Corp says experimental eye therapy meets study goal

  22-12-2015 17:25
  
  * Implant Medidur reduces recurrence of inflammation significantly
  
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• Wall Street higher as crude edges up

  22-12-2015 17:24 via news.yahoo.com
  
  Brent crude rose slightly a day after it slid to its lowest since mid-2004, but gains were limited due to global oversupply concerns and tepid demand for heating oil in what is likely to be the warmest winter on record. "I think the main thing that markets are going to be looking at today is the whole deal with oil," said Matthew Tuttle, chief executive, Tuttle Tactical Management in Stamford, Connecticut. At 10:59 a.m. ET (1559 GMT), the Dow Jones industrial average was up 37.52 points, or 0.22
  
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• GLOBAL MARKETS-U.S. stocks rise, helped by rebound in battered oil prices

  22-12-2015 17:24 via news.yahoo.com
  
  Wall Street rose on Tuesday, buoyed by energy shares as oil prices rebounded off multi-year lows, as investors digested mixed U.S. data about home resales and economic growth. The U.S. dollar fell for a third consecutive session. Oil prices enjoyed a respite from a slide this month that has deepened a 1-1/2-year collapse.
  
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• US third quarter growth estimate cut to 2%

  22-12-2015 17:16 via news.yahoo.com
  
  The US economy grew at an annual rate of 2.0 percent in the third quarter, according to Commerce Department data Tuesday, slightly below a previous estimate of 2.1 percent. The July to September growth of gross domestic product -- the broad measure of the economy's output of goods and services -- was in line with analyst estimates and marked a slowdown from the 3.9 percent growth in the second quarter. Personal consumption expenditure, which drives about two-thirds of the activity in the US econ
  
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• UPDATE 2-ConAgra 2nd-qtr profit tops estimates despite sales miss

  22-12-2015 16:14
  
  Dec 22 (Reuters) - ConAgra Foods Inc reported profits that topped estimates on Tuesday, helped by cost-cutting and lower commodity expenses as the company shifts to healthier, less processed foods...
  
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• Spanish stock market steadies after slump

  22-12-2015 16:12 via news.yahoo.com
  
  London (AFP) - Spain's main stock market steadied Tuesday after falling heavily the previous day on the political impasse in the eurozone's fourth biggest economy following an inconclusive election.
  
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• Morocco's central bank holds key rate unchanged at 2.5 pct

  22-12-2015 16:12 via news.yahoo.com
  
  Morocco's central bank held its benchmark interest rate stable at 2.5 percent on Tuesday and said economic growth was expected to slow to 2.1 percent next year down sharply from this year's 4.5 percent which was boosted by a bumper grain harvest. Morocco has done more than most North African countries to make painful changes required by international lenders to curb deficits, such as ending fuel subsidies and freezing public sector hiring.
  
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• Wall Street higher as crude oil steadies

  22-12-2015 15:58 via news.yahoo.com
  
  Wall Street was higher in trading on Tuesday as GDP data for the third quarter showed stronger-than-expected growth and crude oil prices eased off multi-year lows. Brent crude pared some of its losses from Monday, when it slid to its lowest since mid-2004, but global oversupply concerns limited gains. "I think the main thing that markets are going to be looking at today is the whole deal with oil," said Matthew Tuttle, chief executive, Tuttle Tactical Management in Stamford, Connecticut.
  
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• Brazil's Rousseff says opponents lack legal basis to impeach her

  22-12-2015 15:55 via news.yahoo.com
  
  BRASILIA (Reuters) - Brazilian President Dilma Rousseff said on Tuesday that her opponents' bid to impeach her has no legal basis since there are no charges against her. At the opening of a metro station in the northeastern city of Salvador, Rousseff said a country cannot resort to impeachment just because it does not like its president, and said Brazil should focus on restoring economic growth and creating jobs. A ruling by Brazil's Supreme Court last week improved Rousseff's chances of survivi
  
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• Abercrombie appoints Hollister brand chief its merchandising head

  22-12-2015 15:48
  
  Dec 22 (Reuters) - Abercrombie & Fitch Co has promoted Fran Horowitz, the president of its Hollister brand, to the newly created role of chief merchandising officer in another effort by the company...
  
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• Mugabe says using yuan will help revive Zimbabwe

  22-12-2015 15:47 via news.yahoo.com
  
  Zimbabwe's President Robert Mugabe said Tuesday the planned increased use of the Chinese yuan as legal tender next year will boost liquidity and help give impetus to the faltering economy. "The acceptance of the yuan into the world currency basket should offer (a) new possibility for us as from next year," Mugabe said. The southern African country stopped using its own currency in 2009 after hyperinflation, which had peaked at around 500 billion percent, rendered it unusable.
  
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• Store cards will not help your holiday credit hangover

  22-12-2015 15:29
  
  NEW YORK (Reuters) - When he was about to plunk down a hefty amount for a new mattress three years ago, Sean McQuay, like many shoppers, swooned at the extra discount the store offered for opening up...
  
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• Spain central bank raises 2015 growth forecast to 3.2%

  22-12-2015 15:24 via news.yahoo.com
  
  Spain's central bank on Tuesday raised its 2015 growth forecast for the country to 3.2 percent, further strengthening the outlook for recovery in the eurozone's fourth biggest economy. In its quarterly economic outlook, the Bank of Spain raised its forecast from an earlier estimate of 3.1 percent published in June, and also predicted GDP growth of 2.8 percent in 2016 -- up from 2.7 percent. Spain's incumbent Prime Minister Mariano Rajoy had vaunted Spain's economy recovery from a devastating cri
  
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• US 3rd quarter growth estimate cut to 2.0%

  22-12-2015 15:20 via news.yahoo.com
  
  The US economy grew at an annual rate of 2.0 percent in the third quarter, according to Commerce Department data Tuesday, slightly below a previous estimate of 2.1 percent. The July to September growth of gross domestic product -- the broad measure of the economy's output of goods and services -- was in line with analyst estimates and marked a slowdown from the 3.9 percent growth in the second quarter. Personal consumption expenditure, which drives about two-thirds of the activity in the US econ
  
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• Egypt's central bank tightens import controls to boost local production

  22-12-2015 15:08 via news.yahoo.com
  
  Egypt's central bank will tighten import regulations from January in a bid to support local manufacturing and better preserve its dwindling foreign currency reserves. Egypt, which depends on imports, has faced a currency crisis since a 2011 uprising drove foreign investors and tourists away. The central bank said it aimed to "strengthen the national economy and promote local products, enhancing their competitiveness against foreign products," in a statement on Tuesday.
  
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• Consumer, business spending support U.S. third-quarter growth

  22-12-2015 15:05 via news.yahoo.com
  
  The U.S. economy grew at a fairly healthy clip in the third quarter as strong consumer and business spending offset efforts by businesses to reduce an inventory glut, underscoring its resilience despite a raft of headwinds. Gross domestic product grew at a 2.0 percent annual pace, instead of the 2.1 percent rate reported last month, the Commerce Department said in its third estimate on Tuesday. While that was a sharp deceleration from the brisk 3.9 percent pace logged in the April-June period, g
  
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• Boston College alumni beat Ivy League graduates at stock picking: SumZero

  22-12-2015 14:50
  
  (In Dec. 21 item, in sixth paragraph corrects spelling of co-founder's first name to Aalap from Halap)
  
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• US economy grew at 2 percent annual rate in third quarter

  22-12-2015 14:46 via news.yahoo.com
  
  WASHINGTON (AP) — The U.S. economy grew at a slightly slower pace over the summer than the government had previously estimated. Most economists foresee a slight acceleration in the current quarter and stronger growth in the first half of 2016.
  
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• Moody's, S&P cut Toshiba's credit rating to junk

  22-12-2015 14:45 via news.yahoo.com
  
  Crisis-hit Toshiba's woes deepened Tuesday when Moody's and Standard & Poor's cut their credit ratings to junk, casting doubt on a turnaround plan unveiled in response to an embarrassing profit-padding scandal. On Monday Toshiba rolled out a wide-ranging restructuring which included thousands of job cuts, as it warned it would book a record $4.5 billion annual loss. Moody's said its two notch-downgrade to Ba2 was in response to Toshiba's overhaul and its weak prospects -- and warned of more
  
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• Nigeria expects 2016 budget deficit to double to $11 bln - president

  22-12-2015 14:08 via news.yahoo.com
  
  By Camillus Eboh and Felix Onuah ABUJA (Reuters) - Nigeria expects its budget deficit to double to 2.2 trillion naira ($11 billion) in 2016 as the government plans to revive a flagging economy by tripling capital expenditure, President Muhammadu Buhari said on Tuesday. Africa's biggest economy will borrow as much as 900 billion naira abroad to fund the deficit, which equals 2.16 percent of gross domestic product, Buhari told parliament. Nigeria's economy has been hammered by a plunge in oil pric
  
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• Putin says Russia 'to continue efforts' to settle trade ties with Ukraine, EU

  22-12-2015 14:00 via news.yahoo.com
  
  Russia will continue making efforts to iron out existing disputes in its trade relations with the European Union and Ukraine, Russian news agencies quoted President Vladimir Putin as saying on Tuesday. Last week Putin ordered his government officials to suspend Russia's free trade zone with Ukraine from Jan. 1 of next year, citing "extraordinary circumstances affecting the interests and economic security" of Russia.
  
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• U.S. auto parts supplier LKQ Corp to buy Italy's Rhiag

  22-12-2015 13:44
  
  (Reuters) - U.S. auto parts supplier LKQ Corp said it would buy Italy's Rhiag-Inter Auto Parts Italia SpA in a deal valued at 1.04 billion euros ($1.14 billion) on an enterprise basis to expand in...
  
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• Battered oil wins respite, lifts world stocks

  22-12-2015 13:37 via news.yahoo.com
  
  By Dhara Ranasinghe LONDON (Reuters) - World stock markets eked out small gains on Tuesday, lifted by a recovery in oil prices from 11-year lows as investors unwound some of their bearish bets on the battered commodity. European stock markets followed Asia higher. The pan-European FTSEurofirst 300 gained 0.4 percent after two days of falls while U.S. stock futures suggested Wall Street shares may build on Monday's rally.
  
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• Battered oil wins respite, lifts stocks

  22-12-2015 13:10 via news.yahoo.com
  
  By Dhara Ranasinghe LONDON (Reuters) - World stock markets eked out small gains on Tuesday, lifted by a recovery in oil prices from 11-year lows as investors unwound some of their bearish bets on the battered commodity. European stock markets followed Asia higher. The pan-European FTSEurofirst 300 gained 0.4 percent after two days of falls while U.S. stock futures suggested Wall Street shares may build on Monday's rally. Oil stocks such as BP and Royal Dutch Shell rallied 2 percent as oil prices
  
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• Battered oil wins respite, lifts global stocks

  22-12-2015 13:09 via news.yahoo.com
  
  By Dhara Ranasinghe LONDON (Reuters) - World stock markets eked out small gains on Tuesday, lifted by a recovery in oil prices from 11-year lows as investors unwound some of their bearish bets on the battered commodity. European stock markets followed Asia higher. The pan-European FTSEurofirst 300 gained 0.4 percent after two days of falls while U.S. stock futures suggested Wall Street shares may build on Monday's rally .
  
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• Global funds cut stocks, slowdown worries persist: poll

  22-12-2015 13:08 via news.yahoo.com
  
  Global investors cut their equity holdings in December and raised their exposure to bonds, a Reuters poll of fund managers showed on Tuesday, as worries about a global economic slowdown and uncertainty about the pace of Fed tightening persisted. Equity holdings fell to 47.9 percent, the lowest since September, while bond holdings rose to 37.9 percent, the highest since December 2014, reflecting a generally cautious mood among asset managers. "Risks are still in high leverage in China and some ot
  
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• ConocoPhillips sells stake in JV with Rosneft, exits Russia: FT

  22-12-2015 12:55
  
  (Reuters) - U.S. oil and natural gas producer ConocoPhillips sold its stake in a joint venture with Russian state oil company Rosneft, exiting the country after more than 25 years, the Financial...
  
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• After fuelling $1 trillion Asia deal spree, China's M&A set to hit new heights in 2016

  22-12-2015 12:06
  
  HONG KONG (Reuters) - China Inc's outbound acquisitions spree in 2015 helped push Asia-Pacific's annual deal value past $1 trillion for the first time, with 2016 set for a bigger splurge still as...
  
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