Finance news

• As ETFs explode in popularity, industry pioneer State Street lags

  26-01-2016 23:55
  
  NEW YORK (Reuters) - The ETF boom may be leaving its architect behind.
  
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• Oil fuels 'schizophrenic' rebound on Wall Street

  26-01-2016 22:49 via news.yahoo.com
  
  (Reuters) - Wall Street rebounded over 1 percent on Tuesday, driven by a surge in oil prices and strong quarterly results from 3M, Johnson & Johnson and Procter & Gamble.
  
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• Samson Resources interim CEO to resign, joining exodus of staff

  26-01-2016 22:12
  
  SAN FRANCISCO, Jan 26 (Reuters) - Bankrupt energy company
  Samson Resources said its recently appointed interim chief
  executive plans to resign next month, joining an exodus of staff
  from the...
  
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• New Jersey Gov. Christie calls for state takeover of Atlantic City -reports

  26-01-2016 22:01
  
  Jan 26 (Reuters) - New Jersey Governor Chris Christie called
  for a state takeover of distressed gambling hub Atlantic City,
  according to media reports on Tuesday.
  
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• Saudi races to attract investment, create jobs in overhaul

  26-01-2016 21:39 via news.yahoo.com
  
  RIYADH, Saudi Arabia (AP) — Saudi Arabia is racing to attract more investment and overhaul its economy as low oil prices expose it to urgent domestic challenges.
  
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• US STOCKS-Wall St jumps in 'schizophrenic' rebound fueled by oil

  26-01-2016 21:15 via news.yahoo.com
  
  Wall Street rebounded sharply on Tuesday, driven by a surge in oil prices and strong results from multinationals 3M, Johnson & Johnson and Procter & Gamble. The Dow rose 1.55 percent, while the S&P 500 ...
  
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• U.S. business borrowing for equipment falls in December: ELFA

  26-01-2016 21:05 via news.yahoo.com
  
  Companies signed up for $12.5 billion in new loans, leases and lines of credit last month, less than a year earlier, but more than double from November, ELFA said. Cumulative new business volume inched up 0.4 percent for 2015, relatively flat with 2014, ELFA said. "Now that the Fed has taken a first step toward higher long-term rates and with rock-bottom low oil prices giving way to sluggish fourth quarter growth in the U.S. economy, it will be interesting to see how the equipment finance sector
  
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• Venezuela's economic crisis will sink Maduro: opposition

  26-01-2016 20:48 via news.yahoo.com
  
  By Diego Oré CARACAS (Reuters) - President Nicolas Maduro is unlikely to complete his six-year term, and could even be replaced this year, as Venezuela's economic crisis worsens, the head of the new opposition-led congress said on Tuesday. Oil-producing Venezuela is suffering the world's steepest inflation, an economic recession, and shortages of basic goods including flour and pharmaceutical products. Voter anger over the crisis propelled Venezuela's opposition last month to win a majori
  
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• Obama makes new push to expand retirement savings

  26-01-2016 20:39
  
  WASHINGTON (Reuters) - U.S. President Barack Obama will propose in his upcoming budget measures to help more than 30 million Americans save for retirement, such as automatically enrolling workers in...
  
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• New U.S. rules allow infrastructure projects, movie shoots in Cuba

  26-01-2016 20:28 via news.yahoo.com
  
  By Arshad Mohammed and Daniel Trotta WASHINGTON/HAVANA (Reuters) - The United States approved a wider range of commerce with Cuba on Tuesday, making it easier for U.S. companies to film movies, finance exports and do business with the Communist government on public infrastructure projects. The latest changes come as Washington and Havana move closer toward normal relations, having restored diplomatic relations last year after more than five decades of Cold War-era animosity. Although most U.S. t
  
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• UPDATE 1-U.S. paper firm Verso files for bankruptcy to cut debt

  26-01-2016 20:27
  
  WILMINGTON, Del, Jan 26 (Reuters) - Verso Corp, a leading
  U.S. producer of printing and specialty papers, filed for
  Chapter 11 bankruptcy on Tuesday to cut its debt as demand for
  its products has...
  
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• Global stocks, oil jump on hopes of crude output cut

  26-01-2016 20:26 via news.yahoo.com
  
  By Richard Leong NEW YORK (Reuters) - Stock and oil prices rebounded on Tuesday on hopes oil producers would cut output to address the supply glut that has punished equity markets and pushed crude values to 12-year lows. Bets that oil exporters could reduce production helped scale back some demand for low-risk yen and U.S. and German government debt. Investors also awaited more clues to whether the Federal Reserve and other central banks will help stabilize markets that have been roiled partly d
  
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• Facebook's price-earnings ratio near record low ahead of fourth-quarter report

  26-01-2016 20:24 via news.yahoo.com
  
  A recent drop in Facebook Inc's stock has left the online social network trading at earnings multiples near record lows as it prepares to hand investors its fourth-quarter report. Along with fellow technology leaders Netflix Inc, Apple Inc, Alphabet Inc and Amazon.com Inc, Facebook has been among Wall Street's top stocks in recent years, but a market selloff sparked by plummeting oil prices has pulled it down 7 percent so far in 2016. In its fourth-quarter report due after the bell on Wednesday,
  
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• Energy earnings will hint at who survives crude's rout

  26-01-2016 19:20 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - As crude prices crater, threatening a sizeable number of U.S. oil producers who are predicted to fail under continued global oil doom, the current earnings season will be an important window into who will be standing when the dust - and prices - settle. The energy sector is expected to report a 74 percent drop in earnings per share in the fourth quarter of 2015 from a year earlier, and even that dismal view reflects the rosy days when oil was selling above
  
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• Strong earnings, oil recovery drive indexes higher

  26-01-2016 18:56 via news.yahoo.com
  
  The Dow rose nearly 2 percent, while the S&P 500 was up 1.5 percent. All 10 major S&P sectors were higher, led by the 3.64 percent rise in the energy sector . Investors are still reeling from a turbulent start to 2016, which saw Wall Street post its worst-ever start to a year, and a two-day recovery late last week was largely wiped out on Monday.
  
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• Fed opens first meeting since historic rate rise

  26-01-2016 18:54 via news.yahoo.com
  
  The Federal Reserve opened Tuesday its first policy meeting since a historic rate rise last month with weak inflation and global market turbulence clouding its plans. Days after the European Central Bank signaled it could expand stimulus measures if inflation slows further, Fed policymakers will weigh whether the confidence in the US economy that underpinned their first rate increase in more than nine years in December holds up. While no policy action is expected at the end of the two-day Federa
  
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• U.S. consumer, housing data underscore economy's resilience

  26-01-2016 18:47 via news.yahoo.com
  
  The Conference Board said its consumer confidence index rose to 98.1 this month from 96.3 in December as households shrugged off January's stock market sell-off and focused instead on a strengthening labour market. "Households remain quite upbeat about the economic prospects and, given the importance of consumer spending to overall domestic activity, the resiliency in household sentiment will be seen by the Federal Reserve as good news," said Millan Mulraine, deputy U.S. chief economist at TD Se
  
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• How the Fed Could Ruin Wall Street’s Rebound This Week

  26-01-2016 18:29 via news.yahoo.com
  
  Stocks nervously inched higher late last week, in part because of growing hopes the Fed makes a dovish turn. Bank of America Merrill Lynch economist Michael Hanson gives the Fed credit for the technical execution of the rate hike (no small feat after a long experiment with zero-interest rate policy going back to 2008). The futures market is already discounting this: According to Hanson, traders only expect at most one rate hike for all of 2016.
  
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• Apple options busy as traders pick sides ahead of results

  26-01-2016 17:59 via news.yahoo.com
  
  By Saqib Iqbal Ahmed NEW YORK (Reuters) - Activity in Apple Inc options were busy on Tuesday ahead of the iPhone maker's quarterly results, split between investors expecting the stock to recoup recent losses and those looking for protection against a further drop. The world's most valuable publicly traded technology company is expected to report quarterly revenue slightly below Wall Street's average estimates for the first time in six quarters, according to Thomson Reuters StarMine. Relatively l
  
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• Iran signs flurry of business deals as leader visits Europe

  26-01-2016 17:55 via news.yahoo.com
  
  MILAN (AP) — Iran is signing business deals across Europe as its president embarks on a tour of the region to restore contacts after years of economic sanctions and international isolation.
  
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• Trump says U.S. economy in a 'bubble' he doesn't want to inherit

  26-01-2016 17:22 via news.yahoo.com
  
  Republican presidential candidate Donald Trump, casting doubt on the nation's economic health, said on Tuesday the U.S. economy is in a bubble he fears will burst and he does not want to deal with a financial collapse if he is elected to the White House. The billionaire real estate mogul cited the economy as one of the toughest assignments he would face as president if he wins the Nov. 8 presidential election, along with the Iran nuclear deal. The country's a mess," Trump told ABC's "Good Mornin
  
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• Investor Paulson's personal assets to back loan to hedge fund

  26-01-2016 17:10
  
  BOSTON (Reuters) - Billionaire investor John Paulson has put up part of his personal fortune as collateral to back a credit line for his $18 billion hedge fund Paulson & Co., a government filing...
  
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• J&J profit beats forecasts, helped by lower taxes, cost cuts

  26-01-2016 17:01 via news.yahoo.com
  
  (Reuters) - Johnson & Johnson on Tuesday reported higher-than-expected quarterly earnings, helped by lower taxes and cost cuts, and gave a 2016 profit outlook slightly above Wall Street's.
  
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• Effect of U.S. sanctions relief depends partly on Cuban action

  26-01-2016 16:59 via news.yahoo.com
  
  The practical impact of the latest round of U.S. sanctions relief for Cuba will depend in large part on action the Cuban government may take to liberalize its economy, U.S. officials told reporters on Tuesday. "The impact of those will depend to a great extent on the steps that the Cuban government takes," said an Obama administration official who asked not to be identified. The official said U.S. companies had raised issues including Cuban currency reform and allowing foreign companies to hire
  
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• Romania offers Moldova aid to keep it solvent, and with West

  26-01-2016 16:54 via news.yahoo.com
  
  BUCHAREST, Romania (AP) — Romania offered Moldova emergency economic aid and a loan of 60 million euros ($65 million) on Tuesday in hopes of preventing economic collapse and keeping the impoverished ex-Soviet republic on a pro-European course.
  
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• Leading U.S. paper company Verso files for bankruptcy

  26-01-2016 16:42
  
  WILMINGTON, Del, Jan 26 (Reuters) - Verso Corp, a leading
  U.S. producer of printing and specialty papers, filed for
  Chapter 11 bankruptcy on Tuesday to cut its debt in the face of
  falling demand for...
  
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• Slowing emerging markets hamper oil recovery: World Bank

  26-01-2016 16:32 via news.yahoo.com
  
  The World Bank warned Tuesday that slowing emerging-market economies were hampering an oil recovery, and prices could sink further in a blow to a "fragile" global economy. Crude oil in 2016 is projected to come in at $37 a barrel, down from its October estimate of $51, the World Bank said in a new quarterly report. "A faster-than-expected slowdown in major emerging markets economies -- especially if combined with financial stress -- could further reduce commodity prices considerably, setting bac
  
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• Indexes up on strong earnings, rising oil prices

  26-01-2016 16:18 via news.yahoo.com
  
  Wall Street edged higher on Tuesday morning, driven by strong earnings reports and recovering oil prices, ahead of the Federal Reserve's policy meeting and Apple's results. Crude prices steadied above $30 a barrel on hopes that OPEC and non-OPEC producers would come together to tackle a massive supply glut. Investors are still reeling from a turbulent start to the year, which saw Wall Street post its worst-ever start to a new year.
  
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• High-tech 'incubator' nurtures Gaza start-ups with industry's help

  26-01-2016 16:03 via news.yahoo.com
  
  By Nidal al-Mughrabi GAZA (Reuters) - Gaza may be physically cut off from the world under a blockade imposed by Egypt and Israel, but that hasn't quashed the enthusiasm of young entrepreneurs who are getting guidance on their start-ups from the likes of Microsoft and Google. Since 2011, a program called Gaza Sky Geeks has helped identify and nurture high-tech start-ups in Gaza, with the "incubator" launching 16 businesses, including an AirBnB-style office space app and an online publishing platf
  
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• US home prices strengthened in November

  26-01-2016 15:48 via news.yahoo.com
  
  US home price gains picked up in November with the market still supported by cheap credit and tight supplies, according to the S&P/Case-Shiller index released Tuesday. "Home prices extended their gains, supported by continued low mortgage rates, tight supplies and an improving labor market," said David Blitzer, chairman of the index committee at S&P Dow Jones Indices, in a statement.
  
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• Trelleborg in talks with KKR over stake in car parts maker - sources

  26-01-2016 15:45 via news.yahoo.com
  
  By Arno Schuetze FRANKFURT (Reuters) - Swedish industrial rubber maker Trelleborg is in talks to sell its roughly 1 billion euro (770.18 million pound) stake in TrelleborgVibracoustic to buyout group KKR as a possible alternative to a stock market listing for the car parts business, according to two sources. Trelleborg and German partner Freudenberg last year started preparations for an initial public offering (IPO) for TrelleborgVibracoustic, a Germany-based maker of automotive vibration contro
  
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• Stocks open higher, led by energy sector as oil price rises

  26-01-2016 15:44 via news.yahoo.com
  
  NEW YORK (AP) — Higher oil prices and some positive earnings news from U.S. companies are helping to send the stock market higher in early trading.
  
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• Wall Street higher as oil recovers slightly

  26-01-2016 15:38 via news.yahoo.com
  
  REUTERS - U.S. stocks rose on Tuesday as oil edged up in a volatile session and investors looked ahead to the Federal Reserve's policy meeting and Apple's results. The Dow Jones industrial average was up 38.49 points, or 0.24 percent, to 15,923.71; the S&P 500 rose 5.47 points, or 0.29 percent, to 1,882.55; the Nasdaq Composite index gained 18.28 points, or 0.4 percent, to 4,536.77. (Reporting by Alan John Koshy in Bengaluru; Editing by Anil D'Silva)
  
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• US home prices rise in November; all-time highs in 4 cities

  26-01-2016 15:30 via news.yahoo.com
  
  WASHINGTON (AP) — U.S. home prices increased at a faster clip in November, the gains fueled by solid hiring growth, historically low mortgage rates and a shortage of houses on the market.
  
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• Just how smart can you make your home?

  26-01-2016 15:08
  
  NEW YORK (Reuters) - Carlos Espinosa, a design professional based in Boulder, Colorado, has a completely decked-out "smart" home - light switches he can control from his mobile phone, a security...
  
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• Stocks fight back as oil pinballs back above $30

  26-01-2016 15:07 via news.yahoo.com
  
  By Marc Jones LONDON (Reuters) - Markets went on another rollercoaster ride on Tuesday as hopes that big oil producers may start tightening supply drove crude oil prices higher and pulled stocks out of a worldwide dive that included a six-percent plunge in China. European shares were flat and Wall Street was expected to start firmer with the focus on a flurry of data and the first Federal Reserve meeting this year. London , Frankfurt and Paris had initially dropped as much as 1.8 percent after t
  
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• Russia's Putin: good reserves, moderate govt debt mean economic situation can be rectified in 2016

  26-01-2016 15:06
  
  MOSCOW, Jan 26 (Reuters) - President Vladimir Putin said on Tuesday that Russia's "good reserves" and moderate level of state debt were creating favourable conditions for the economic situation in...
  
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• Indexes set to open higher as oil recovers slightly

  26-01-2016 15:06 via news.yahoo.com
  
  U.S. stock indexes were set to open higher on Tuesday as oil edged up in a volatile session and investors looked ahead to the Federal Reserve's policy meeting and Apple's results. Investors are still reeling from a turbulent start to the year, which saw Wall Street post its worst-ever start to a new year. "It's going to go back and forth, and it looks like it's going to all depend on what the price of oil does today," said Matthew Tuttle, chief executive, Tuttle Tactical Management in Greenwich,
  
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• Home prices up in November at fastest rate since July 2014

  26-01-2016 15:05 via news.yahoo.com
  
  Annualized U.S. single-family home prices rose more than expected in November and at the fastest pace in 16 months, a closely watched survey showed on Tuesday. "Home prices extended their gains, supported by continued low mortgage rates, tight supplies and an improving labor market," said David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices. Home prices in three U.S. cities, Dallas, Denver and Portland, Oregon, are now at record levels, the survey
  
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• Russian GDP fell 3.8 pct y/y in Q4 - economy minister

  26-01-2016 15:04
  
  MOSCOW, Jan 26 (Reuters) - Russia's gross domestic product contracted by 3.8 percent in the fourth quarter of last year, in annual terms, Economy Minister Alexei Ulyukayev said at a meeting with...
  
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• Deals and warm words flow as Iran president visits Europe

  26-01-2016 14:53 via news.yahoo.com
  
  By Antonella Cinelli and Crispian Balmer ROME (Reuters) - Italy and Iran signed billions of dollars of business deals on Monday at the start of a visit to Europe by Iranian President Hassan Rouhani aimed at rebuilding his nation's ties with the West after years of economic sanctions. Heading a 120-strong delegation of business leaders and ministers, Rouhani will spend two days in Rome before flying to France on Wednesday, looking to polish Tehran's diplomatic credentials at a time of turmoil in
  
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• GLOBAL MARKETS-Stocks fight back as oil pinballs back above $30

  26-01-2016 14:44
  
  LONDON, Jan 26 (Reuters) - Markets went on another rollercoaster ride on Tuesday as hopes that big oil producers may start tightening supply drove crude oil prices higher and pulled stocks out of a...
  
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• UPDATE 2-JPMorgan to pay Ambac $995 mln to settle RMBS-related claims

  26-01-2016 14:42
  
  Jan 26 (Reuters) - Bond insurer Ambac Financial Group Inc said JPMorgan Chase & Co will pay $995 million to settle disputes related to residential mortgage-backed securities.
  
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• Boosting Middle East economy is way to beat extremism: Iranian president

  26-01-2016 14:42 via news.yahoo.com
  
  By Steve Scherer and Antonella Cinelli ROME (Reuters) - Generating economic growth in the Middle East is crucial to defeating extremism, Iranian President Hassan Rouhani said on Tuesday, putting forward his country as a regional trade hub and pillar of stability. Rouhani is on a four-day trip to Italy and France, looking to rebuild Iranian relations with the West some two weeks after financial sanctions on Tehran were rolled back following the implementation of its nuclear deal with world powers
  
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• UPDATE 2-Georgia's c.bank chief says lari to stabilise in near future

  26-01-2016 14:39
  
  TBILISI, Jan 26 (Reuters) - Georgian central bank chief Georgy Kadagidze said on Tuesday that the lari currency would stabilise in the near future and the bank would continue to tighten its monetary...
  
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• UPDATE 1-Investment inflows into Brazil soar, external gap meets forecasts

  26-01-2016 14:39
  
  BRASILIA, Jan 26 (Reuters) - Foreign direct investment into Brazil came in December at more than twice the amount estimated by analysts, as a weakening currency and declining asset prices triggered a...
  
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• U.S. fed funds rate holds at 7-year high

  26-01-2016 14:25
  
  NEW YORK, Jan 26 (Reuters) - The U.S. interest rate that the Federal Reserve targets held at 0.38 percent on Monday, its highest level in more than seven years, in advance of a two-day Fed policy...
  
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• Chinese market dive leads global stocks lower

  26-01-2016 14:24 via news.yahoo.com
  
  TOKYO (AP) — Global stock markets slipped Tuesday, led by a plunge in China's Shanghai index, after a renewed slump in the price of oil kept investors on edge about the world economy.
  
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• Brakes swerves IPO plans as market volatility hits valuations

  26-01-2016 14:20 via news.yahoo.com
  
  (ShareCast News) - The London fundraising market for new issues is suffering as food distributor Brakes Group on Tuesday shelved its initial public offer due to recent volatile stock market conditions, ...
  
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• Futures gain as oil edges higher

  26-01-2016 13:58 via news.yahoo.com
  
  (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Tuesday as oil prices rose on hopes that OPEC and non-OPEC producers may be edging closer to a deal to tackle one of the biggest supply gluts in decades. March futures on the S&P TSX index were up 0.63 percent at 7:30 a.m. ET. No major economic events are scheduled for the day . The Toronto Stock Exchange's S&P/TSX composite index fell on Monday as last week's crude-induced rally fizzled out and a fall
  
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