Finance news

• U.S. corporations to report best and worst of times

  29-01-2016 23:46 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - Stock market investors who spent January swayed by oil prices, economic weakness in China and central bank speculation may continue to do that next week, even though it should be a dramatic one for earnings reports and economic data. Fourth-quarter 2015 earnings reports coming from Internet leader Alphabet and Exxon Mobil , an old-economy company hit by falling oil prices, will spotlight the yin and yang of Corporate America. If shares of Alphabet, Google's
  
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• Global stocks gain as BoJ goes negative on interest rates

  29-01-2016 23:41 via news.yahoo.com
  
  New York (AFP) - Stock markets around the world rebounded Friday, ending a volatile month with a bang after the Bank of Japan unexpectedly slashed interest rates into negative territory for the first time.
  
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• Hedge fund clients look to global macro funds for profit in 2016

  29-01-2016 23:39
  
  BOSTON (Reuters) - As 2016 shapes up to be even more unpredictable than last year, wealthy investors are planning to allocate more of their money to hedge funds focusing their bets on rates,...
  
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• Fed’s Williams says sees 'smidgen' slower rate hikes than before

  29-01-2016 23:33 via news.yahoo.com
  
  SAN FRANCISCO (Reuters) - San Francisco Federal Reserve Bank President John Williams said on Friday that economic weakness abroad, mixed economic data at home and a stronger dollar have caused him to expect a slower pace of rate hikes this year.
  
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• CANADA FX DEBT-C$ rallies as BoJ stokes risk appetite, oil prices rise

  29-01-2016 23:33
  
  TORONTO, Jan 29 (Reuters) - The Canadian dollar gained against a stronger U.S. counterpart on Friday after a Bank of Japan rate cut into negative territory boosted global asset markets, while oil...
  
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• Warren Demands Tough Criminal Action Against Corporate Scofflaws

  29-01-2016 23:30 via news.yahoo.com
  
  Earlier this month, Goldman Sachs, the banking behemoth, agreed to pay $5 billion in civil penalties to resolve claims arising from the marketing and selling of faulty mortgage securities to investors that helped fuel the Great Recession. Goldman said the settlement with federal prosecutors and regulators would reduce its fourth-quarter earnings by approximately $1.5 billion on an after-tax basis. For a Wall Street bank with assets valued at $861 billion, the fine is a drop in the bucket and lik
  
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• Fed's Williams says sees 'smidgen' slower rate hikes than before

  29-01-2016 23:26
  
  SAN FRANCISCO, Jan 29 (Reuters) - San Francisco Federal Reserve Bank President John Williams said on Friday that economic weakness abroad, mixed economic data at home and a stronger dollar have...
  
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• Fed extends comment period for too-big-to-fail rule to Feb. 19

  29-01-2016 23:23
  
  Jan 29 (Reuters) - The Federal Reserve extended the comment period for its proposal to require so-called too-big-to-fail banks to hold minimum amounts of long-term debt, it said on Friday.
  
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• US economy loses momentum in fourth quarter

  29-01-2016 23:12 via news.yahoo.com
  
  Economic output grew at only a 0.7 percent annual pace in the fourth quarter, to hold overall growth for last year at 2.4 percent, the same pace as 2014, the Commerce Department reported Friday. Consumer spending slowed somewhat but spending on homes held up in a sign of some tenacity. The slowdown came on the back of slumping business investment in buildings and equipment, related in part to the deep contraction in the oil sector.
  
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• UPDATE 3-Argentina seals $5 bln bank loan as heads into holdout talks

  29-01-2016 23:00
  
  * Argentina gets $5 bln loan from int'l banks to bolster reserves
  
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• Fed's Williams says house prices about, or a bit above, 'normal'

  29-01-2016 22:52
  
  SAN FRANCISCO, Jan 29 (Reuters) - U.S. house prices are hovering at, or a bit above, a "normal" level, a top Federal Reserve official said on Friday, and further increases could be worrisome.
  
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• Fed’s Williams expects boost to spending from lower gas prices

  29-01-2016 22:40 via news.yahoo.com
  
  SAN FRANCISCO (Reuters) - Lower gas prices are a "net positive" for the economy and despite the economic drag they had last year will probably help boost consumer spending going forward, San Francisco Federal Reserve Bank President John Williams said on Friday.
  
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• Wall Street surges at end of awful January

  29-01-2016 22:35 via news.yahoo.com
  
  At one point last week, the S&P's loss for 2016 reached 11 percent before recovering to end the month down 5 percent. Global equities got a surprise boost on Friday after Japan's central bank cut a benchmark rate below zero to stimulate its economy. Microsoft shares jumped 5.83 percent on better-than-expected results.
  
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• UPDATE 5-Oil industry relieved as Alberta holds royalties steady

  29-01-2016 22:24
  
  CALGARY, Jan 29 (Reuters) - Alberta's left-leaning government unveiled a new energy royalty framework on Friday that left rates unchanged on existing oil wells and oil sands projects, alleviating...
  
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• Fed is clearly on a path of returning rates to normal: Williams

  29-01-2016 22:21
  
  SAN FRANCISCO, Jan 29 (Reuters) - The Federal Reserve is clearly on a path of returning interest rates to a normal level of 3 percent to 3.5 percent over the next few years, a top Federal Reserve...
  
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• GLOBAL MARKETS-Stocks jump worldwide as Bank of Japan rate goes negative

  29-01-2016 22:20
  
  * Oil gains on hopes major oil exporters to reach deal (Adds close of U.S. markets)
  
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• BRIEF-Paypal hasn't changed its daily fantasy sports policy

  29-01-2016 22:12
  
  ongoing developments in relation to daily fantasy sports (Reporting by Michael Erman)
  
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• OFFICIAL CORRECTION-Mexico posts 2015 fiscal deficit of 637.6 bln pesos

  29-01-2016 22:10
  
  MEXICO CITY, Jan 29 (Reuters) - Mexico's public sector ran a fiscal deficit of 637.6 billion pesos ($35.19 billion) in 2015, which represented 3.5 percent of gross domestic product, the finance...
  
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• Fed's Williams says optimistic U.S. can weather global storms

  29-01-2016 21:58
  
  SAN FRANCISCO, Jan 29 (Reuters) - San Francisco Federal Reserve Bank President John Williams said on Friday he is optimistic that the U.S. can weather the storms from abroad.
  
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• SEC to scale back broker exams to focus more on advisers: sources

  29-01-2016 21:38
  
  WASHINGTON (Reuters) - U.S. securities regulators plan to scale back examinations of brokers so they can shift resources to improve oversight of investment advisers, which have traditionally faced...
  
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• Vanguard plans to charge fees as low as 0.01 percent

  29-01-2016 21:32
  
  (Reuters) - Vanguard Group Inc, the world's biggest mutual fund company, has applied to create a new share class for some funds that would charge investors as little as 0.01 percent, or $1 for every...
  
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• US economy slowed to scant 0.7 pct. growth rate last quarter

  29-01-2016 21:30 via news.yahoo.com
  
  WASHINGTON (AP) — The U.S. economy's growth slowed sharply in the final three months of 2015 to a 0.7 percent annual rate. Consumers slowed spending, businesses cut back on investment and global problems trimmed exports.
  
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• Labor Department moves forward on retirement advice proposal

  29-01-2016 21:29
  
  WASHINGTON (Reuters) - The U.S. Labor Department on Friday took the next step toward requiring brokers who provide retirement advice to follow a "fiduciary" standard of putting clients' interests...
  
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• UPDATE 2-Obama to meet with Republicans Ryan, McConnell next week -White House

  29-01-2016 21:26
  
  WASHINGTON, Jan 29 (Reuters) - President Barack Obama will meet for the first time on Tuesday with Speaker Paul Ryan, the top Republican in the U.S. House of Representatives, to discuss budget...
  
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• UPDATE 3-U.S. Labor Department moves forward on retirement advice proposal

  29-01-2016 21:24
  
  WASHINGTON, Jan 29 (Reuters) - The U.S. Labor Department on Friday took the next step toward requiring brokers who provide retirement advice to follow a "fiduciary" standard of putting clients'...
  
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• TREASURIES-Yields fall after Japan unveils negative interest rates

  29-01-2016 21:22
  
  NEW YORK, Jan 29 (Reuters) - U.S. Treasury yields fell to four-month lows on Friday after the Bank of Japan surprised investors by introducing negative interest rates in a further effort to stimulate...
  
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• Stocks jump worldwide as Bank of Japan rate goes negative

  29-01-2016 21:21 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - Stocks jumped worldwide and the yen slumped on Friday after the Bank of Japan stunned markets by adopting negative interest rates, while hopes the Federal Reserve will slow the pace of future U.S. rate hikes also underpinned stock gains. The BOJ unexpectedly cut a benchmark rate below zero in a bold move to stimulate the Japanese economy as volatile markets and slowing global growth threaten the central bank's efforts to overcome nagging deflation. Equities s
  
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• Microsoft drives tech rally; Wall Street up almost 2 percent

  29-01-2016 21:18 via news.yahoo.com
  
  Stocks also got a boost from weak fourth-quarter U.S. GDP data, which bolstered arguments that the Federal Reserve might go slower than expected on future rate hikes. While the Fed has not ruled out a rate hike in March, many investors believe recent global economic and financial turmoil may lead it to wait. Japan's central bank cut a benchmark rate below zero to stimulate its economy, a surprise move that boosted global equities.
  
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• BlackRock switches benchmarks on U.S. bond ETFs

  29-01-2016 21:02
  
  NEW YORK (Reuters) - BlackRock Inc said on Friday it will change the benchmarks on four iShares Treasury exchange-traded funds (ETFs) from Barclays' Treasury bond indexes to ICE's Treasury bond...
  
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• UPDATE 2-BlackRock switches benchmarks on U.S. bond ETFs

  29-01-2016 21:01
  
  NEW YORK, Jan 29 (Reuters) - BlackRock Inc said on Friday it will change the benchmarks on four iShares Treasury exchange-traded funds (ETFs) from Barclays' Treasury bond indexes to ICE's Treasury...
  
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• Oil market set for more volatility after turbulent week

  29-01-2016 20:06 via news.yahoo.com
  
  World oil prices swung between sharp gains and losses this week as possible efforts to finally tackle a supply glut were offset by lingering concerns over weak global economic growth. "This week's big story (for commodities) has, of course, been the rebound in oil prices on unconfirmed reports that Russia and OPEC may finally be willing to agree coordinated cuts in output," Capital Economics analyst Caroline Bain said on Friday.
  
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• Caesars gets fresh chance at halting U.S. creditor lawsuits

  29-01-2016 19:55
  
  CHICAGO, Jan 29 (Reuters) - The bankrupt operating unit of
  Caesars Entertainment Corp will soon ask a U.S. judge to
  shield its parent from $12 billion of lawsuits to facilitate a
  debt-cutting rescue...
  
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• Fed will be patient on U.S. policy given global risks: Kaplan

  29-01-2016 19:50 via news.yahoo.com
  
  By Jason Lange and Jonathan Spicer NEW YORK (Reuters) - The Federal Reserve needs more time to assess how global economic weakness and financial market turmoil will hurt the U.S. economy, and it will be patient about policy decisions, a Fed policymaker said on Friday. In an interview with Reuters, Dallas Fed President Robert Kaplan offered his assessment of the central bank's decision on Wednesday to leave interest rates unchanged and to acknowledge that it was closely watching global financial
  
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• Oil trims gains as Iran shuns talk of output cuts

  29-01-2016 19:46 via news.yahoo.com
  
  By Devika Krishna Kumar NEW YORK (Reuters) - Oil prices trimmed early gains on Friday on a report that Iran would not participate in a possible deal between OPEC and other producing countries to trim output. Oil retraced some early gains and briefly turned negative, after the Wall Street Journal reported that an Iranian oil official said the country would not join an immediate OPEC production cut. The paper said Iran wants to boost crude exports by 1.5 million barrels a day.
  
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• MasterCard profit beats estimate; stays bullish on China

  29-01-2016 18:59 via news.yahoo.com
  
  MasterCard Inc reported a better-than-expected quarterly profit and said it would accelerate investments in China, even as concerns mount over slowing growth in the world's second-largest economy. The company's profit beat mirrored that of larger rival Visa Inc , which backed its full-year forecast on Thursday. Visa's shares rose as much as 5.2 percent to $72.95.
  
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• Why millennials want to quit their jobs

  29-01-2016 18:58
  
  NEW YORK (Reuters) - Twenty-eight year old Margaret Davis was making nice money as a writer in the legal department of a big pharmaceutical company in New York.
  
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• Whirlpool sees North America driving growth in 2016

  29-01-2016 18:50 via news.yahoo.com
  
  Whirlpool Corp reported a better-than-expected quarterly profit and said consumer demand is likely to remain resilient in North America, its biggest market, this year. An improving U.S. economy has helped boost consumer spending in the country, even as economic uncertainty plagues emerging markets, particularly China and Brazil. Whirlpool's sales in North America rose about 4 percent to $2.9 billion in the quarter ended Dec. 31, accounting for about 52 percent of total sales.
  
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• Germany tries to appease Poland on second Baltic pipeline

  29-01-2016 18:49 via news.yahoo.com
  
  German vice chancellor Sigmar Gabriel on Friday sought to allay Poland's concerns over plans to build a second pipeline to pump Russian gas to Germany under the Baltic Sea. "We're taking Poland's concerns very seriously," said Gabriel, who is also Germany's economy minister, after meeting his Polish counterpart Mateusz Morawiecki in Warsaw. Poland has claimed the Nordstream 2 pipeline undermines the European Union's strategic interests and violates competition rules, adding that revenue from the
  
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• Global stocks positive as BoJ goes negative on interest rates

  29-01-2016 18:42 via news.yahoo.com
  
  Stock markets around the world rebounded Friday, ending a highly volatile month with a bang after the Bank of Japan unexpectedly slashed interest rates into negative territory for the first time. Equities in Asia, Europe and the United States rallied as traders seized on the BoJ's announcement that it would charge banks to hold their cash, in news that also sent the yen tumbling. The Bank of Japan's unprecedented decision to adopt a below-zero interest rate mirrors the European Central Bank (ECB
  
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• U.S. economy hits soft patch in fourth quarter as inventories, trade weigh

  29-01-2016 18:40 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - U.S. economic growth braked sharply in the fourth quarter as businesses stepped up efforts to reduce an inventory glut and a strong dollar and tepid global demand weighed on exports. Gross domestic product increased at a 0.7 percent annual rate, the Commerce Department said on Friday in a report that showed a further cutback in investment by energy firms grappling with lower oil prices. Growth in consumer spending also slowed as unseasonably mild weather
  
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• Chile court orders president's embattled daughter-in-law to stay in country

  29-01-2016 18:17 via news.yahoo.com
  
  A Chilean court on Friday ordered President Michelle Bachelet's daughter-in-law to remain in the country and check in monthly with police while authorities investigate her for tax crimes, the latest twist in a case that has already damaged the leader's popularity. The courts are investigating allegations that Natalia Compagnon issued false tax declarations, misrepresented her income, and issued fraudulent invoices relating to a real estate concern she half-owns. Intense media coverage of the cas
  
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• U.S. says Americans traveling to Iran risk arrest

  29-01-2016 18:08 via news.yahoo.com
  
  U.S. citizens traveling to Iran, particularly Iranian-Americans, risk arrest and detention in the Islamic republic, the U.S. State Department said in a travel warning on Friday. The notice, which largely echoes an August warning, was issued days after five Americans, including four dual Iranian nationals, were released by Iran in a prisoner swap coinciding with the lifting of economic sanctions on Iran as the implementation of a deal to curb its nuclear program began. The warning aims to "reiter
  
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• Lloyds tries to turn page on ECN era

  29-01-2016 17:42
  
  LONDON, Jan 29 (IFR) - Lloyds is seeking to buy back or
  redeem all of its remaining Enhanced Capital Notes (ECNs) and
  turn the page on the institution's dark days, despite an ongoing
  legal battle...
  
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• World stocks jump as Bank of Japan rate goes sub-zero

  29-01-2016 17:37 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - Global equities jumped and the yen slumped against the dollar after the Bank of Japan stunned markets by introducing negative interest rates, while hopes the U.S. Federal Reserve will slow the pace of future rate hikes also underpinned stock gains. The BOJ unexpectedly cut a benchmark rate below zero in another bold move to stimulate the Japanese economy as volatile markets and slowing global growth threaten the central bank's efforts to overcome deflation. G
  
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• El-Erian says countries weakening currencies in fight for global growth

  29-01-2016 17:32 via news.yahoo.com
  
  By Jennifer Ablan NEW YORK (Reuters) - Mohamed El-Erian, the chief economic advisor at Allianz, said on Friday the Bank of Japan's shocking move to take one of its main interest rates into negative territory underscored the country's hope to weaken the yen to re-inflate its economy. "Countries are pursuing their domestic objectives almost regardless of the international consequences," El-Erian said in an interview at Reuters' New York offices.
  
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• US stocks rise on Japan stimulus, earnings and energy prices

  29-01-2016 16:50 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks are rising Friday morning, led by gains in technology companies after Microsoft reported healthy growth in its cloud computing business. Visa and MasterCard also rose sharply after reporting strong earnings. European markets also rose, and Asian indexes climbed after Japan's central bank announced more aggressive moves to stimulate that country's economy.
  
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• BRIEF-DF Deutsche Forfait informs about filing of bondholders' claims in insolvency proceedings

  29-01-2016 16:45
  
  * Informs about filing of bondholders' claims in the
  insolvency proceedings
  
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• TSX heads for 1.8 percent weekly gain as oil rises

  29-01-2016 16:35 via news.yahoo.com
  
  Canada's main stock index advanced in morning trade on Friday along with gains for global stock markets after the Bank of Japan moved to negative interest rates, while a rally in crude oil prices added to support for the resource-linked market. At 10:09 a.m. EST, the Toronto Stock Exchange's S&P/TSX composite index was up 64 points, or 0.51 percent, at 12,655.93. Agrium Inc fell 1.9 percent to C$119.81, and Potash Corp declined 0.3 percent to C$52.59.
  
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• US stocks rise after weak US growth report: Dow +1.32%

  29-01-2016 16:31 via news.yahoo.com
  
  US stocks rose in early trade Friday after a weak US fourth-quarter economic growth report raised expectations the Federal Reserve would hold off on further interest rate increases. The broad-based S&P 500 rose 22.25 (1.18 percent) to 1,915.61, while the tech-rich Nasdaq Composite Index gained 55.55 (1.23 percent) at 4,562.22. Global markets were in rally mode after the Bank of Japan announced a surprise cut in interest rates into negative territory for the first time in a bid to spur its ec
  
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• Italy, Germany share populism as common enemy in Europe: Renzi

  29-01-2016 16:24 via news.yahoo.com
  
  BERLIN (Reuters) - Italy and Germany are united in opposing political populism as they seek to tackle Europe's economic and immigration problems, Italian Prime Minister Matteo Renzi said on Friday. "We don't agree on everything naturally," Renzi told reporters following a meeting with German Chancellor Angela Merkel. "But we believe together that fighting unemployment today in Europe means combating populism. We have the same adversary: Populism. ...
  
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