Finance news

• UPDATE 1-Google will add more partners for self-driving cars-exec

  12-01-2016 23:57
  
  DETROIT, Jan 12 (Reuters) - Alphabet Inc's Google wants to form more partnerships with established automakers and suppliers this year to accelerate its work on self-driving cars, the head of the...
  
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• UPDATE 2-Obama administration to announce efforts to boost self-driving cars

  12-01-2016 23:56
  
  DETROIT, Jan 12 (Reuters) - The Obama administration will announce efforts to boost self-driving cars on Thursday, and President Barack Obama may discuss advanced transportation efforts in his final...
  
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• Puerto Rico creditors holding their own restructuring talks: sources

  12-01-2016 23:53 via news.yahoo.com
  
  By Nick Brown and Megan Davies SAN JUAN/NEW YORK (Reuters) - Puerto Rico's creditors are not waiting for the island to make the first move in the next round of debt restructuring talks, discussing among themselves possible alternatives to a broad exchange offer being pushed by the U.S. commonwealth, several sources said this week.  Facing $70 billion in debt and a 45 percent poverty rate, Puerto Rico is trying to solve an economic crisis before it hits substantial debt payments in May and J
  
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• UPDATE 1-U.S. House backs broader North Korea sanctions, after nuclear test

  12-01-2016 23:51
  
  WASHINGTON, Jan 12 (Reuters) - The U.S. House of Representatives voted nearly unanimously on Tuesday to pass legislation that would broaden sanctions over North Korea's nuclear program, days after...
  
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• Arch Coal receives broad lender support for bankruptcy plan

  12-01-2016 23:47
  
  ST. LOUIS, Jan 12 (Reuters) - Bankrupt U.S. coal miner Arch Coal has broad support from senior lenders for a plan to cut $4.5 billion of debt, lawyers said in court on Tuesday, and urged any unhappy...
  
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• UPDATE 3-New Jersey Gov. Christie touts his compassionate side

  12-01-2016 23:39
  
  TRENTON, N.J., Jan 12 (Reuters) - New Jersey Governor Chris Christie, a 2016 Republican presidential candidate, proposed more drug addiction treatment and praised bi-partisanship in a State of the...
  
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• Icahn says he does not have any position in Time Warner

  12-01-2016 23:36
  
  Jan 12 (Reuters) - Billionaire activist investor Carl Icahn said on Tuesday he did own any stake in media company Time Warner Inc.
  
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• Energy, biotech lift Wall Street to second straight day of gains

  12-01-2016 23:30 via news.yahoo.com
  
  A late rebound in energy and biotech shares helped push the S&P 500 to a second straight day of gains on Tuesday, while Apple and other technology shares also boosted the market. The Nasdaq snapped an eight-session losing streak, with the Nasdaq Biotech Index rebounding late, also breaking an eight-day run of losses. The biotech index, among the hardest-hit in this year's selloff, ended up 1.5 percent.
  
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• US STOCKS-Energy, biotech help lift Wall St to 2nd day of gains

  12-01-2016 23:27
  
  * Dow up 0.7 pct, S&P up 0.8 pct, Nasdaq up 1.0 pct (Updates close with Ford down, MetLife up after the bell, adds details on Q4 earnings)
  
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• Anthem CEO expects Cigna acquisition to close in second half

  12-01-2016 23:26
  
  Jan 12 (Reuters) - ANTHEM INC CEO JOSEPH SWEDISH SAYS CONTINUES TO EXPECT CIGNA ACQUISITION TO CLOSE IN SECOND HALF OF 2016 ANTHEM SAYS CONTINUES TO WORK WITH REGULATORS TO FINALIZE ACQUISITION...
  
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• UPDATE 2-California board rejects Volkswagen's diesel fix plan

  12-01-2016 23:20
  
  Jan 12 (Reuters) - The California Air Resources Board said on Tuesday it rejected Volkswagen AG's plan to fix 2.0 liter diesel cars equipped with software that allows them to emit up to 40 times...
  
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• DoubleLine's Gundlach says U.S. dollar 'has peaked out' in near term

  12-01-2016 23:17
  
  NEW YORK, Jan 12 (Reuters) - Jeffrey Gundlach, the widely followed investor who runs Los Angeles-based DoubleLine Capital, said in a webcast on Tuesday that the U.S. dollar "has peaked out" for the...
  
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• Norfolk Southern to consolidate Virginia units to cut costs

  12-01-2016 23:12
  
  Jan 12 (Reuters) - U.S. railroad operator Norfolk Southern Corp, which has repeatedly rejected Canadian Pacific Railway Ltd's takeover bid, said it will consolidate its Virginia and Pocahontas units,...
  
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• U.S. House backs broader North Korea sanctions, after nuclear test

  12-01-2016 23:10
  
  WASHINGTON, Jan 12 (Reuters) - The U.S. House of Representatives voted nearly unanimously on Tuesday to pass legislation that would broaden sanctions over North Korea's nuclear program, days after...
  
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• Ford declares new $1 billion dividend, expects to earn at least $10 billion in 2016

  12-01-2016 23:09
  
  Jan 12 (Reuters) - Ford Motor Co said on Tuesday it was declaring a $1 billion supplemental cash dividend and that it expected to have operating profit of at least $10 billion in 2016, roughly the...
  
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• UPDATE 1-Yum says China same-store sales rise 1 pct in December

  12-01-2016 23:07
  
  Jan 12 (Reuters) - Yum Brands Inc, which is spinning off its China business, said December same-store sales increased 1 percent in the country, helped by a 5 percent rise at KFC.
  
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• CANADA STOCKS-TSX gains, breaking 9-day fall, but resource stocks weigh

  12-01-2016 23:05
  
  TORONTO, Jan 12 (Reuters) - Canada's main stock index broke a nine-session slump on Tuesday, notching a gain in volatile trade despite sustained pressure on energy and mining stocks from slumping...
  
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• Canada finance minister says growth a concern, mum on deficit cap

  12-01-2016 23:02 via news.yahoo.com
  
  By Allison Lampert MONTREAL (Reuters) - Canadian Finance Minister Bill Morneau said on Tuesday the public is concerned about the economy, but declined to indicate whether the Liberal government will stick to their budget deficit pledge or boost spending. The minister, speaking to reporters during a week-long consultation on his upcoming budget, acknowledged that Canadians were concerned about the slide in the country's currency, which like oil hit a 12-year low on Tuesday. The currency has been
  
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• Iran's Zarif told Kerry U.S. sailors would be released promptly

  12-01-2016 22:59 via news.yahoo.com
  
  Iranian Foreign Minister Mohammad Javad Zarif told U.S. Secretary of State John Kerry on Tuesday that U.S. sailors who ended up in Iranian custody would be allowed to continue their journey promptly, a senior Obama administration official said on condition of anonymity. Kerry and Zarif were two of the main negotiators in the July 14 agreement under which Tehran agreed to restrain its nuclear program in return for relief from economic sanctions. Earlier, a U.S. defense official said the U.S. mili
  
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• NYSE short interest fell 1.4 percent in late December

  12-01-2016 22:28 via news.yahoo.com
  
  NEW YORK, Jan 12 (Reuters) - - Short interest on the New York Stock Exchange fell 1.4 percent in late December, the exchange said on Tuesday.
  
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• Global - Wall Street closes strong; oil dips below $30

  12-01-2016 22:28 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - U.S. and European stock investors bought beaten-down shares on Tuesday, at least temporarily looking past another steep drop in oil prices that briefly sent U.S. crude below $30 a barrel. Major U.S. stock indexes finished strong in a volatile trading session. The pan-European FTSEurofirst 300 index climbed 1.1 percent after four sessions of declines. Volatile Chinese markets and the deepening oil slide have shaken sentiment in equities at the start of 2016
  
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• Hedge fund Conatus Capital revamps management

  12-01-2016 22:27
  NEW YORK (Reuters) - Conatus Capital Management, David Stemerman’s $2 billion hedge fund firm, has revamped its top management after the departure of its president, Kevin Burke.
  
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• Wall Street closes strong; oil dips below $30

  12-01-2016 22:26 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - U.S. and European stock investors bought beaten-down shares on Tuesday, at least temporarily looking past another steep drop in oil prices that briefly sent U.S. crude below $30 a barrel. Major U.S. stock indexes finished strong in a volatile trading session. The pan-European FTSEurofirst 300 index climbed 1.1 percent after four sessions of declines. Volatile Chinese markets and the deepening oil slide have shaken sentiment in equities at the start of 2016
  
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• Nasdaq short interest down 2 percent in late December

  12-01-2016 22:25 via news.yahoo.com
  
  NEW YORK, Jan 12 (Reuters) - - Short interest on the Nasdaq fell 2 percent in the second half of December, the exchange said on Tuesday. As of Dec. 31, short interest fell to about 8.676 billion shares, compared with 8.85 billion shares as of Dec. 15.
  
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• Stocks rebound after early slide; tech stocks lead gains

  12-01-2016 22:10 via news.yahoo.com
  
  A late wave of buying left the stock market higher, led by gains in technology and health care.
  
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• Dollar gains for third day as risk outlook brightens

  12-01-2016 22:10 via news.yahoo.com
  
  By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The dollar rose for a third straight session on Tuesday as gains on Wall Street and calmer financial markets enhanced appetite for currencies that offer higher yield. The euro and the yen, currencies with low interest rates used by investors to fund purchases of higher-yielding currencies in risky carry trades, slipped on the day after strong gains seen in a chaotic first week of the year. "Generally, stability in global markets should bode well f
  
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• Wall St. advances as biotechs, energy rise

  12-01-2016 22:04 via news.yahoo.com
  
  NEW YORK (Reuters) - A late turnaround in energy and biotech shares lifted Wall Street to a second straight day of gains on Tuesday, while Apple and other technology shares also boosted the market.
  
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• TRLPC: Retail investors lose patience in bank loan mutual funds

  12-01-2016 21:51
  NEW YORK (Reuters) - Retail investors will keep turning away from bank loan mutual funds, which are pegged to floating interest rates, as long as volatile markets shed doubt that the Federal Reserve...
  
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• Plains All American raises $1.5 billion from private equity firms, calms investors

  12-01-2016 21:38
  NEW YORK (Reuters) - Plains All American Pipeline LP said on Tuesday it has secured $1.5 billion in new financing from private equity firms, aimed at easing investor fears that the U.S. midstream...
  
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• Wall Street rises in late trading; energy shares turn up

  12-01-2016 21:37 via news.yahoo.com
  
  U.S. stocks climbed in volatile trading on Tuesday as energy shares turned higher and Apple and other technology shares added to gains. Crude oil prices ended lower after another roller coaster session but the S&P 500 energy index reversed course heading into the close. The index was last up 0.2 percent, while shares of Exxon Mobil were up 1.6 percent at $74.88 and Chevron was up 1 percent at $81.61.
  
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• UPDATE 1-Puerto Rico utility needs deal to avert blackouts -executive

  12-01-2016 21:23
  
  (Recasts with comments from committee)By Megan DaviesNEW YORK, Jan 12 (Reuters) - Puerto Rico could face
  widespread blackouts if its power utility, PREPA, runs out of
  cash, the company's...
  
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• Struggling oil dips below $30; Wall Street rally stalls

  12-01-2016 21:17 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - Oil prices tumbled again on Tuesday with U.S. crude diving briefly below $30 a barrel, taking down energy shares and undercutting a rally in stocks. Major U.S. stock indexes rose slightly in choppy afternoon trading, after posting sharp gains initially. Volatile Chinese markets and the deepening oil slide have shaken sentiment in equities to start 2016.
  
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• Canada finance minister acknowledges concern over C$ fall

  12-01-2016 20:42 via news.yahoo.com
  
  MONTREAL (Reuters) - Canadian Finance Minister Bill Morneau on Tuesday acknowledged public concern over the country's weakening currency, but said it was important for the government to undertake its planned spending program. "I know Canadians are concerned about the changes in the value of the Canadian dollar. It's important for all Canadians. We think it's more important to make investments in our economy. So economic growth is very important and that's how we can improve our economic situatio
  
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• Icahn buying up Time Warner shares: sources

  12-01-2016 20:05
  (Reuters) - Billionaire activist investor Carl Icahn is building an equity stake in Time Warner Inc , people familiar with the matter said on Monday.
  
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• Wall Street rally loses steam as oil prices tumble

  12-01-2016 19:20 via news.yahoo.com
  
  U.S. stocks were flat in afternoon trading on Tuesday, after an early rally was wiped out as crude oil prices once again held the markets hostage. Crude prices were on a roller coaster ride. U.S. stocks have mirrored the movement of oil prices over the past two sessions: opening higher, only to reverse course later on sharp turns in oil prices.
  
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• BlackRock reshuffles senior leadership of investment teams: memo

  12-01-2016 19:04
  NEW YORK (Reuters) - BlackRock Inc on Tuesday informed staff that it was reshuffling the managers of some of its most important investment units, including its stock and bond-picking businesses,...
  
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• Deutsche Bank targets top five slot in wealth management

  12-01-2016 18:41
  FRANKFURT (Reuters) - Deutsche Bank aims to become one of the world's top five wealth managers, it said in a memo to staff on Tuesday, after losing ground to rivals over the last couple of years.
  
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• Tuesday loses its title as the best day to score a flight deal: report

  12-01-2016 18:37 via news.yahoo.com
  
  If you want to find the best airfare deal on your travel this year, a new report suggests booking about two months in advance for travel within North America, and to do so on the weekend. Overall, results suggest that flyers can save 10 percent for economy class travel within North America if they buy tickets about two months -- specifically 57 days -- in advance. For long-haul flights, lead times are longer: The best deals for travel from North America to Europe for instance, are predicted to b
  
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• Wall Street pares back gains as oil prices reverse course

  12-01-2016 17:52 via news.yahoo.com
  
  Wall Street pared back early gains on Tuesday as oil prices reversed course, but gains in Apple and healthcare stocks provided support. Crude prices retreated back towards $30 per barrel, which led to a 0.75 percent drop in the energy sector, making them the worst performing among the 10 major S&P sectors.
  
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• U.S., European shares cut gains as oil nears $30

  12-01-2016 17:41 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - U.S. and European shares pared earlier gains on Tuesday when depressed oil prices failed to sustain a rally. Major U.S. stock indexes initially rose in morning trading, building off of Monday's late-session rallies after historically poor starts to 2016, but a Wall Street rally faltered by midday as crude prices approached the $30 per barrel mark. Volatile Chinese markets and the deepening slide of oil have shaken sentiment in equities to start 2016.
  
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• European, US shares rally; oil rebounds off lows

  12-01-2016 17:23 via news.yahoo.com
  
  European stock markets surged Tuesday giving a boost to US shares in early trading following further volatility in China sparked by concerns over weak growth in the world's second biggest economy. Frankfurt and Paris indices were both up by more than two percent at around 1440 GMT, with London not far behind with a gain of 1.78 percent. "European equities are in the green... thanks to a rise in the value of the Chinese yuan, the devaluation of which has been rattling markets in the New Year," sa
  
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• Gold falls as stocks rebound in Europe, dollar rises

  12-01-2016 17:06 via news.yahoo.com
  
  By Jan Harvey LONDON (Reuters) - Gold fell for a third straight session on Tuesday as a rebound in European and U.S. stock markets undermined the metal's appeal as a haven from risk, and as the dollar strengthened against a currency basket. The metal retreated from a high of $1,099.15 as European stocks rebounded from an early three-month low, Wall Street opened higher and the dollar index rose 0.3 percent.
  
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• Fed hikes need to be gradual, risk hurting emerging world: IMF chief

  12-01-2016 16:43 via news.yahoo.com
  
  Further interest rate hikes by the U.S. Federal Reserve should be gradual or they risk hurting already fragile emerging economies, where many companies borrow in dollars, the head of the International Monetary Fund said on Tuesday. Christine Lagarde said a tightening in U.S. monetary policy, which started last month with the first rate hike in a decade, should be supported by "clear evidence" of inflation in the United States. Ebbing confidence in China's policymaking has fuelled investors' retr
  
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• Turkmen banks halt hard currency sales as economy struggles

  12-01-2016 16:27 via news.yahoo.com
  
  ASHGABAT, Turkmenistan (AP) — Banks in the natural gas-rich Central Asian nation of Turkmenistan have halted hard currency sales as the economy shows signs of struggling amid falling global energy prices.
  
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• Wall Street posts strong gains as oil prices rise

  12-01-2016 16:03 via news.yahoo.com
  
  U.S. stocks rose about 1 percent on Tuesday morning, helped by gains in Apple and as oil prices eased off 12-year lows, providing some respite after stock indexes made their worst-ever start to a year. Crude prices flirted with a break below $30 per barrel, before recovering slightly as investors booked profits. "The market is still very much in gripped by the plunge in oil prices and this morning we're seeing a slightly little better tone to oil prices," said Peter Cardillo, chief market econom
  
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• Airbus tops Boeing in jet orders, but both face China risk

  12-01-2016 15:49 via news.yahoo.com
  
  PARIS (AP) — Airbus overcame technical toilet troubles and engine delays to win hundreds more plane orders in 2015 than rival Boeing, but a bigger problem may cloud this year for both companies: China's economic slowdown.
  
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• Oil steadies around $32 as investors book profits

  12-01-2016 15:46 via news.yahoo.com
  
  By Simon Falush LONDON (Reuters) - Crude oil steadied at around $32 per barrel on Tuesday, recovering slightly as investors booked profits after it fell to a near 12-year low on concerns about oversupply and fragile demand from China. Analysts at Barclays, Macquarie, Bank of America Merrill Lynch, Standard Chartered and Societe Generale all cut their 2016 oil forecasts this week, with Standard Chartered saying oil could fall as low as $10 per barrel. Oil has been dragged lower by a glut, China's
  
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• Amateur landlords under attack as British home ownership falls

  12-01-2016 15:15 via news.yahoo.com
  
  By David Milliken LONDON (Reuters) - They have pocketed some of the most lucrative returns available to investors in recent decades and been a staple of newspapers' personal finance pages, but tougher times now lie ahead for Britain's army of small-time landlords. Overall, there are nearly 2 million private landlords in Britain, owning almost 20 percent of homes. Chancellor George Osborne is squeezing more tax from buy-to-let (BTL) investments, partly to help fund incentives for new homeowners,
  
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• Obama's last State of the Union to set final goals, promote legacy

  12-01-2016 15:04 via news.yahoo.com
  
  By Jeff Mason WASHINGTON (Reuters) - President Barack Obama will present an agenda for his final year in office and beyond on Tuesday in his last State of the Union address, aiming to paint an optimistic vision of America despite worries about immigration, terrorism and economic inequality. The speech to a joint session of Congress will be one of Obama's few remaining chances to capture and hold the attention of millions of Americans before he is eclipsed by his would-be successors competing to
  
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• Getting your finances back to basics

  12-01-2016 15:03
  NEW YORK (Reuters) - To judge from sky-high Wall Street salaries, managing money is such a complicated task that it is worth a hefty price.
  
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