• Facebook shares soar as mobile drives big jump in ad sales

    Facebook shares soar as mobile drives big jump in ad sales
    Facebook Inc smashed investors' expectations with a 52-percent jump in quarterly revenue as it sold more ads targeted at a fast-growing number of mobile users, sending its shares sharply higher after hours. The world's biggest online social network bucked the trend of underwhelming tech results from Apple Inc and eBay Inc, in the face of economic turmoil in China and a strong U.S. dollar depressing the value of overseas sales. Facebook's service is not available in China but it sells ads there.
  • Texas tycoon Wyly urges U.S. judge to reject IRS tax case

    Texas tycoon Wyly urges U.S. judge to reject IRS tax case
    DALLAS, Jan 27 (Reuters) - A lawyer for Texas tycoon Sam
    Wyly argued on Wednesday that the Internal Revenue Service had
    failed at trial to prove the businessman used offshore trusts to
    engage in a...
  • Ackman's Pershing Square Holdings down 11.2 percent so far in 2016

    Ackman's Pershing Square Holdings down 11.2 percent so far in 2016
    BOSTON (Reuters) - Billionaire investor Bill Ackman's Pershing Square Holdings lost 11.2 percent since the start of the year, beginning 2016 with the same kind of double-digit losses that plagued the...
  • Fed keeps rates unchanged, wary eye on global markets

    Fed keeps rates unchanged, wary eye on global markets
    The U.S. Federal Reserve kept interest rates unchanged on Wednesday and said it was "closely monitoring" global economic and financial developments, signaling it had accounted for a stock market selloff but wasn't ready to abandon a plan to tighten monetary policy this year. Fed policymakers said the economy was still on track for moderate growth and a stronger labor market even with "gradual" rate increases, suggesting its concern about global events had diminished but not squashed chances of a
  • Advertisement

  • Stock market skids after cautious comments from the Fed

    Stock market skids after cautious comments from the Fed
    NEW YORK (AP) — Stocks sank Wednesday after the Federal Reserve gave a cautious assessment of the global economy and said growth in the U.S. has slowed down.
  • U.S. stocks, dollar fall on Fed's nod to market turmoil

    U.S. stocks, dollar fall on Fed's nod to market turmoil
    By Richard Leong NEW YORK (Reuters) - Wall Street stocks and the dollar fell on Wednesday as the Federal Reserve held U.S. interest rates unchanged, as expected, and said it was closely monitoring global economic and financial developments. The Fed's more cautious outlook reduced the likelihood it would raise rates by a quarter-point four times this year, which hurt the greenback, but its latest assessment on the economy did not wipe out the chances of a possible rate increase in March, which di
  • Wall Street sinks after Fed fails to impress

    Wall Street sinks after Fed fails to impress
    Wall Street dropped sharply on Wednesday after the U.S. Federal Reserve frustrated stock investors hoping for a strong sign it might scale back future interest rate hikes because of recent financial and economic turmoil. In a widely expected decision, the Fed kept interest rates unchanged and it said it was "closely monitoring" global economic and financial developments, but it maintained an otherwise upbeat view of the U.S. economy. With plummeting oil prices and fears of slower economic growth
  • Apple shares fall most in two years in wake of earnings report

    Apple shares fall most in two years in wake of earnings report
    Apple Inc shares fell more than 6.5 percent on Wednesday, the biggest percentage drop in two years, after the company reported its slowest-ever rise in iPhone shipments and forecast that quarterly sales for the current period would post the first drop in 13 years. "Cook & Co have a few tough quarters ahead until we get to the buildup around iPhone 7 later this year, which is what bulls are focussed on to turn this ship back into growth waters," FBR & Co analyst Daniel Ives said. Shares f
  • Advertisement

  • Wall Street looking at three rate hikes by Fed in 2016: poll

    Wall Street looking at three rate hikes by Fed in 2016: poll
    In a Reuters poll on Wednesday of primary dealers that deal directly with the Federal Reserve, 15 of the 21 that responded expect at least three rate increases by the end of the year, which leaves open the possibility of a rate hike as early as March. The Federal Reserve, at the close of its two-day policy meeting on Wednesday, kept interest rates unchanged and said it was "closely monitoring" global economic and financial developments but maintained an otherwise upbeat view of the U.S. economy.
  • Dollar down after Fed statement as fewer rate hikes seen

    Dollar down after Fed statement as fewer rate hikes seen
    By Dion Rabouin NEW YORK (Reuters) - The dollar fell against a basket of major currencies on Wednesday following the Federal Reserve's decision to keep its overnight interest rate unchanged and the release of a statement suggesting it was re-evaluating the pace of future hikes. The statement highlighted concerns about global growth, saying the U.S. central bank's governors would be "closely monitoring" global economic and financial developments, but also maintained a generally positive view of t
  • Iranian president in France for business bonanza

    Iranian president in France for business bonanza
    Iranian President Hassan Rouhani arrived in France on Wednesday for an official visit during which he is expected to sign a host of commercial deals. The visit, the first to France by an Iranian president since 1999, is the second leg of a trip signalling Tehran's rapprochement with Europe following the lifting of sanctions against the Islamic Republic. Rouhani kicked off his Paris visit by meeting some 20 top French business leaders, and he "expressed the wish to see (commercial) relations deve
  • Wall Street drops in wake of Fed statement

    Wall Street drops in wake of Fed statement
    NEW YORK (Reuters) - Wall Street dropped sharply on Wednesday after the U.S. Federal Reserve frustrated investors hoping for a strong sign it might scale back future interest rate hikes because of recent financial and economic turmoil.
  • Accused UK trader likely not a factor in 'flash crash' - paper

    Accused UK trader likely not a factor in 'flash crash' - paper
    By John McCrank NEW YORK (Reuters) - A British trader facing extradition to the United States in a trial next week for allegedly helping trigger the 2010 "flash crash" likely had little, if anything, to do with the event, according to a draft of a new academic research paper. Navinder Singh Sarao was arrested by British police on a U.S. extradition warrant in April after being charged with wire fraud, commodities fraud and market manipulation by the U.S. Justice Department. The U.S. authorities
  • U.S. stocks, dollar slip on Fed's nod to jittery markets

    U.S. stocks, dollar slip on Fed's nod to jittery markets
    Wall Street stocks and the dollar fell on Wednesday as the Federal Reserve held U.S. interest rates unchanged, as expected, and said it was closely monitoring global economic and financial developments. The Fed's acknowledgement of risks to the domestic economy, with oil prices hitting 12-year lows and jitters about Chinese growth, revived some safe-haven bids for gold and U.S. Treasury debt prices. Oil futures clung to earlier gains, brushing off the Fed's more cautious outlook since its Decemb
  • Fed hints at economic worries as it keeps rate unchanged

    Fed hints at economic worries as it keeps rate unchanged
    The Federal Reserve said US growth slowed late last year and hinted at more worries over global economic weakness as it kept its benchmark interest rate unchanged Wednesday. In the first monetary policy meeting after its historic rate increase in December, the US central bank showed slightly less confidence than a month ago about the trajectory of inflation and growth even as it noted strengthening in the jobs and housing sectors. Coming a week after the European Central Bank gave a strong signa
  • Canada housing agency sees overbuilding in oil-hit cities

    Canada housing agency sees overbuilding in oil-hit cities
    Most of Canada's housing market is overvalued and overbuilding concerns have increased in the western energy heartland, where a sagging economy has put Calgary at high risk of housing problems, the federal housing agency said on Wednesday. In a report highlighting the nation's uneven real estate market, the Canada Mortgage and Housing Corporation said there is strong evidence of "problematic conditions" in Calgary, Saskatoon, Regina and Toronto, the nation's largest market. While the oil capital
  • Wall Street turns red after Fed fails to impress

    Wall Street turns red after Fed fails to impress
    Wall Street dropped on Wednesday after the U.S. Federal Reserve frustrated investors hoping for a strong sign it might scale back future interest rate hikes because of recent financial and economic turmoil. In a widely expected decision, the Fed kept interest rates unchanged and it said it was "closely monitoring" global economic and financial developments, but it maintained an otherwise upbeat view of the U.S. economy.
  • Goldman CEO Blankfein to speak at one of first public events since cancer diagnosis

    Goldman CEO Blankfein to speak at one of first public events since cancer diagnosis
    Goldman Sachs Group Inc Chief Executive Lloyd Blankfein will speak at an upcoming financial services conference, marking one of his first public appearances since being diagnosed with lymphoma in September. Blankfein will present on behalf of the Wall Street bank at the Credit Suisse AG financial services forum in Miami Beach in February, Goldman said on Wednesday. Blankfein has been undergoing chemotherapy over the last several months and has curtailed his business travel.
  • U.S. stocks fall, dollar adds losses after FOMC

    U.S. stocks fall, dollar adds losses after FOMC
    NEW YORK (Reuters) - Wall Street stocks turned lower on Wednesday and the dollar's losses deepened against a basket of currencies as the Federal Reserve held policy rates unchanged with eyes on recent market turmoil in global markets. Oil futures clung to earlier gains, while U.S. Treasury debt prices pared earlier losses. Spot gold prices turned positive. ...
  • US Fed keeps rates unchanged, sees inflation low in near-term

    US Fed keeps rates unchanged, sees inflation low in near-term
    The central bank's decision was widely expected after a month-long plunge in U.S. and world equities raised concerns that an abrupt global slowdown could act as a drag on U.S. economic growth. * "The committee is closely monitoring global economic and financial developments and is assessing their implications for the labor market and inflation," the Fed's policy-setting committee said in a statement that diminished the chances of a rate hike at its next meeting in March.
  • Traders bet Fed won't raise rates in first half of 2016

    Traders bet Fed won't raise rates in first half of 2016
    (Reuters) - U.S. short-term interest rate futures contracts erased earlier gains on Wednesday after the Federal Reserve signaled concern headwinds from abroad could slow the U.S. economic recovery.
  • Fed keeps interest rates steady, closely watching global markets

    Fed keeps interest rates steady, closely watching global markets
    The Federal Reserve kept interest rates unchanged on Wednesday and said it was "closely monitoring" global economic and financial developments, but maintained an otherwise upbeat view of the U.S. economy. "The committee is closely monitoring global economic and financial developments and is assessing their implications for the labor market and inflation," the Fed's policy-setting committee said in a statement that diminished the chances of a rate hike at its next meeting in March. The Fed remove
  • Europe shares edge up but early fall on Wall Street before Fed

    Europe shares edge up but early fall on Wall Street before Fed
    European shares climbed, while US stocks fell in early trade Wednesday, after investors reacted to disappointing earnings forecasts from heavyweights Apple and Boeing, with all eyes on the US Federal Reserve's first policy statement since raising interest rates. Sliding oil prices and lacklustre company results, combined with falling Chinese equities, pushed Europe's main indices lower earlier in the session, but they pulled back to close in positive territory. In Paris, the CAC 40 was tentative
  • U.S.-based bond funds post $1.9 billion outflows in latest week: ICI

    U.S.-based bond funds post $1.9 billion outflows in latest week: ICI
    NEW YORK (Reuters) - Investors in U.S.-based mutual funds pulled $1.9 billion out of bond funds in the latest week, potentially on concerns that stubbornly low oil prices could continue to hurt...
  • Rebound in oil prices spurs gains in S&P 500, Dow

    Rebound in oil prices spurs gains in S&P 500, Dow
    The S&P 500 and the Dow reversed course and edged higher on Wednesday after a sharp surge in oil prices helped counter losses from Apple and Boeing's weak forecasts. Apple's shares were down 4.4 percent at $95.59, after the iPhone maker also reported its slowest-ever rise in shipments on Tuesday, while Boeing was down 6.6 percent at $119.50, on track for its biggest fall since August 2011. The declines in both stocks capped gains on the indexes and kept the tech-heavy Nasdaq in the red.
  • New U.S. single-family home sales race to 10-month high

    New U.S. single-family home sales race to 10-month high
    By Lucia Mutikani WASHINGTON (Reuters) - New U.S. single-family home sales surged in December to their highest level in 10 months, the latest indication that the housing sector remains on a firmer footing despite a massive stock market sell-off and slowing economic growth. The Commerce Department said on Wednesday sales rose 10.8 percent to a seasonally adjusted annual rate of 544,000 units, the highest level since February. Sales last month were likely buoyed by unseasonably mild weather and a
  • Oil rebound helps global stocks cut losses before Fed

    Oil rebound helps global stocks cut losses before Fed
    NEW YORK (Reuters) - Recovering oil prices helped global stock markets cut losses on Wednesday but investors remained cautious as they awaited clues from the U.S. Federal Reserve on the timing of its next interest rate increase.
  • European equities mixed, Wall Street lower before Fed

    European equities mixed, Wall Street lower before Fed
    European stock markets were mixed Wednesday and Wall Street opened lower after sliding oil prices helped reverse gains a day earlier and investors reacted to disappointing results from Apple and Boeing. Ahead of a US interest rate decision and in the wake of falling Chinese equities, shares on Frankfurt's DAX index slipped slightly, while Paris and London edged marginally upwards. Most Asian stocks pushed higher, aided by the falling oil prices that cut fuel costs for companies, with Shanghai st
  • Vietnam Communist Party re-elects Trong as consensus rule prevails

    Vietnam Communist Party re-elects Trong as consensus rule prevails
    By Martin Petty HANOI (Reuters) - Vietnam's Communist Party re-elected Nguyen Phu Trong to its top post on Wednesday, an expected outcome that bolsters consensus rule but creates some uncertainty about the momentum of economic reform. Trong, 71, is seen by experts as a conservative apparatchik and a party loyalist unlikely to deviate from the party's economic and foreign policy agenda, at a time when China and the United States are vying aggressively for influence. The five-yearly congress, norm
  • IDFC Bank sees bad loans rising, no impact on earnings

    IDFC Bank sees bad loans rising, no impact on earnings
    IDFC Bank Ltd, one of India's two newest banks, expects its gross bad loans to increase in the coming quarters although that will not hit earnings as it has made adequate provisions, it said on Wednesday. IDFC Bank, a unit of infrastructure lender IDFC Ltd, started operations last October after receiving a permit from the Reserve Bank of India in what was the first bank licensing process in a decade. It reported on Wednesday a net profit of 2.42 billion Indian rupees ($36 million) for the Decemb
  • Wall Street opens lower as oil, Apple drag

    Wall Street opens lower as oil, Apple drag
    REUTERS - U.S. stocks opened lower on Wednesday after oil prices gave up gains and as Apple's tepid quarterly revenue forecast weighed. The Dow Jones industrial average was down 94.44 points, or 0.58 percent, to 16,072.79; the S&P 500 was down 5.3 points, or 0.28 percent, to 1,898.33; and the Nasdaq Composite index was down 20.16 points, or 0.44 percent, to 4,547.51. (Reporting by Alan John Koshy in Bengaluru; Editing by Anil D'Silva)
  • Boeing forecasts 2016 earnings below estimates; shares tumble

    Boeing forecasts 2016 earnings below estimates; shares tumble
    Boeing Co forecast 2016 core earnings below estimates on Wednesday, and said it expected to deliver fewer commercial planes this year, sending its shares down 6.5 percent. Boeing also reported weaker fourth-quarter profit. The company attributed the decline to a slowdown in the 737 line as Boeing shifts production to a new version of the plane, the 737 MAX, and to a slight reduction in output of 747-8s as it slows production of the jumbo jet late next year in response to weak demand.
  • Oil cuts losses but analysts see no big rallies yet

    Oil cuts losses but analysts see no big rallies yet
    By Amanda Cooper LONDON (Reuters) - Oil futures pared losses on Wednesday, echoing a modest stock market recovery, but analysts said a surprise ballooning in U.S. inventories and little chance of the world's major producers agreeing to cut output would likely temper any rallies. Marco Dunand, the head of Mercuria, one of the world's biggest trading houses, said the market was close to rebalancing.
  • History suggests investors face extended bear market blues

    History suggests investors face extended bear market blues
    By Jamie McGeever LONDON (Reuters) - Good news for investors rattled by the "bear market" in many stock indices is that the selling may only last a few months --the bad news is that another big lurch lower is likely and that previous peaks will not be revisited for years. Worries over China, collapsing oil prices and rising U.S. interest rates have pushed many European stock markets down more than 20 percent from highs hit last year, signifying losses of trillions of dollars for investors. The s
  • Closing German borders would lead to enormous problems: Gabriel

    Closing German borders would lead to enormous problems: Gabriel
    Closing Germany's borders in response to the influx of asylum seekers, a move some conservative politicians say the government should prepare for, would cause "enormous economic problems", Economy Minister Sigmar Gabriel said on Wednesday. Gabriel also warned against hysteria over Germany's ability to cope with the influx, which saw 1.1 million asylum seekers flock to the country last year, and insisted the government was in control of the situation. "We have an unbelievably stable social and ec
  • Refugees 'to keep German economy ticking over': government

    Refugees 'to keep German economy ticking over': government
    Germany on Wednesday trimmed back its economic forecast for this year but insisted Europe's top economy remained "in good shape", with the refugee influx likely to boost short-term domestic demand. In its annual economic report, the government said it expected gross domestic product (GDP) to expand by 1.7 percent in 2016, fractionally below an earlier forecast of 1.8 percent. "The German economy is fundamentally in good shape," the report said.
  • German government trims 2016 growth forecast to 1.7 pct

    German government trims 2016 growth forecast to 1.7 pct
    BERLIN (AP) — The German government on Wednesday trimmed its economic growth forecast for this year to 1.7 percent amid concerns over weakening growth abroad and global political tensions.
  • Markets see South Africa's central bank lifting rates by 50 bps

    Markets see South Africa's central bank lifting rates by 50 bps
    By Mfuneko Toyana JOHANNESBURG (Reuters) - South African bonds are still pricing in the first 50 basis point interest rate increase at a single meeting in two years this week, despite comments by the central bank governor suggesting he wants to keep to a path of gradual hikes. At last week's World Economic Forum in Davos, Governor Lesetja Kganyago conceded that South Africa's inflation outlook had deteriorated due to a sharp fall in the rand, but said this was something the bank had expected, pl
  • Boeing 2016 earnings forecast misses estimates, shares drop

    Boeing 2016 earnings forecast misses estimates, shares drop
    (Reuters) - Boeing Co forecast lower-than-estimated 2016 core earnings, and said it expected to deliver fewer commercial planes this year, sending its shares down 3.9 percent in premarket trading. Boeing delivered 762 jetliners in 2015, exceeding its target of 755 to 760 planes. The company said it expects 2016 core earnings, which exclude some pension and other costs, to be between $8.15 and $8.35 per share.
  • Global stocks, dollar struggle ahead of Fed as oil falters

    Global stocks, dollar struggle ahead of Fed as oil falters
    By Marc Jones LONDON (Reuters) - European stocks succumbed to another slide in oil prices on Wednesday as markets waited cautiously to see what the Federal Reserve's reaction will be to what has been a brutal start to the year for world markets. Asian and particularly Chinese bourses ended stronger than they started but that could not prevent the pan-European FTSEurofirst 300 falling just over 0.7 percent ahead of what were expected to be similar falls on Wall Street.[EU.] There was still some g
  • Dollar struggles for traction as all eyes fix on Fed

    Dollar struggles for traction as all eyes fix on Fed
    By Jemima Kelly LONDON (Reuters) - The dollar struggled to gain traction on Wednesday as investors awaited the outcome of a Federal Reserve meeting for clues on whether bets on a single U.S. interest rate rise in 2016 are justified. With investors largely in wait-and-see mode before the Fed, Australia's dollar was the biggest mover, hitting a three-week high after a measure of domestic inflation came in slightly higher than expected. Most markets were choppy, with Asian bourses closing up on the
  • GLOBAL MARKETS-Stocks, dollar struggle ahead of Fed as oil falters

    GLOBAL MARKETS-Stocks, dollar struggle ahead of Fed as oil falters
    European stocks succumbed to another slide in oil prices on Wednesday as markets waited cautiously to see what the Federal Reserve's reaction will be to what has been a brutal start to the year for world markets. Asian and particularly Chinese bourses ended stronger than they started but that could not prevent the pan-European FTSEurofirst 300 falling just over 0.7 percent ahead of what were expected to be similar falls on Wall Street. There was still some grogginess after gadget giant Apple (Sw
  • Japan LDP's Hayashi says 'ready for anything' as Abe mulls economy minister's fate

    Japan LDP's Hayashi says 'ready for anything' as Abe mulls economy minister's fate
    Senior Japan ruling party lawmaker Yoshimasa Hayashi, considered a possible replacement for Economy Minister Akira Amari who has been accused of accepting bribes and faces opposition calls to resign, said he must be ready for anything but wants Amari to remain in his post. Hayashi, the deputy chief of the Liberal Democratic Party's tax panel, is a veteran politician who has previously served as economy minister. The Bank of Japan should consider options besides buying government debt for quantit
  • Illinois governor stands by stalled agenda as state budget languishes

    Illinois governor stands by stalled agenda as state budget languishes
    By Karen Pierog and Dave McKinney CHICAGO (Reuters) - Illinois Governor Bruce Rauner is showing no sign of budging from his stance that structural changes precede any move to raise revenue ahead of his second state of the state address on Wednesday. Nearly a year ago, the wealthy venture capitalist turned Republican governor used the annual speech to the legislature to lay out an ambitious agenda that included business-friendly changes to workers' compensation, a freeze on local property taxes,
  • Germany pares 2016 growth forecast to 1.7%

    Germany pares 2016 growth forecast to 1.7%
    The German government on Wednesday trimmed back its economic forecast for the current year, but insisted that Europe's biggest economy was still "in good shape". "Germany's economy is in good shape," the report said. At the same time, Germany clocked up a surplus on its public budget of 16.4 billion euros ($17.8 billion), equivalent to 0.5 percent of GDP and the second year in a row that Germany's public finances have been firmly in the black, Destatis said.
  • IMF payouts to Cyprus reach 1 bn euros

    IMF payouts to Cyprus reach 1 bn euros
    The International Monetary Fund on Wednesday approved the disbursement of 126.3 million euros ($137.4 million) to Cyprus after the eurozone member passed its ninth and penultimate review of its bailout programme. Cyprus' economic programme is also backed by the European Stability Mechanism, to the tune of nine billion euros. Cyprus has suffered from more than three years of economic slowdown with the government having imposed tax hikes and salary cuts in exchange for a European Union-IMF bailout
  • China smartphone glory days are over as Apple, Xiaomi face tough times

    China smartphone glory days are over as Apple, Xiaomi face tough times
    By Yimou Lee and Paul Carsten HONG KONG/BEIJING (Reuters) - China's smartphone boom may be over, as even Apple Inc grapples with a slowing economy and investor darling Xiaomi Inc [XTC.UL] struggles to stand out amid intense competition in low-margin handsets. On Tuesday, Apple reported the slowest-ever increase in iPhone shipments as the Chinese market weakened. Xiaomi, China's most valuable start-up with a $45 billion pricetag, is under threat, after it missed targets for $1 billion in Internet
  • Morgan Stanley president Kelleher says China 'is just fine'

    Morgan Stanley president Kelleher says China 'is just fine'
    China is "just fine" and the recent worries about its economy was just an excuse to sell the market off after a good run, Morgan Stanley President Colm Kelleher said on Wednesday. "I think there's no new news here, emerging markets will not grow, we know that. Developed markets are carrying the growth, particularly in the U.S. and we are of the view that China is just fine, 6.9 percent growth is okay and we believe those numbers broadly," Kelleher told a conference in Dublin.
  • Fiat Chrysler earnings down on poor Latin American results

    Fiat Chrysler earnings down on poor Latin American results
    MILAN (AP) — Carmaker Fiat Chrysler says net profit fell 40 percent in the fourth quarter of 2015 due to a poor performance in Latin America and Asia, and flat global sales.
  • Ukraine needs big scalps to fight 'brutal' corruption: ombudsman

    Ukraine needs big scalps to fight 'brutal' corruption: ombudsman
    By Marc Jones LONDON (Reuters) - Ukraine must show resolve in tackling "brutal" corruption by prosecuting high-level officials or face widespread disappointment at home and among foreign institutions, the head of its internationally-funded anti-graft ombudsman said. Former Lithuanian finance minister, Algirdas Semeta, whose role was created last year to give Ukraine's firms a way to report bribery or other government wrongdoing, warned distrust about officials' behavior was growing again in the

Follow @FinanceUSA_News on Twitter!