Finance news

• Statistics Canada to temporarily delay release of economic data from Friday

  04-02-2016 23:52 via news.yahoo.com
  
  By David Ljunggren OTTAWA (Reuters) - Statistics Canada said on Thursday it planned to temporarily delay the publication of economic data from media lock-ups because of recent delays in updating the federal agency's website. Statscan, which releases data precisely at 8:30 a.m. EST (1330 GMT), said starting Friday Feb. 5, for the time being it would not open communications channels from the media lock-up until the daily release had been published on the website. Statscan announced similar plans i
  
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• Linn Energy to explore strategic options, exhausts credit facility

  04-02-2016 23:45
  
  Feb 4 (Reuters) - U.S. oil and gas producer Linn Energy Llc said it would explore strategic alternatives to shore up its balance sheet and ensure it has sufficient funds to navigate the incessant...
  
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• Fed's Mester unmoved, says U.S. to overcome 'soft patch'

  04-02-2016 23:44 via news.yahoo.com
  
  The U.S. economy remains sound and will overcome recent market turbulence, allowing the Federal Reserve to continue tightening its monetary policy as planned, a top Fed official said on Thursday. Cleveland Fed President Loretta Mester said that while the global selloff in stocks and oil markets through January poses risks, she is not about to cut her expectations of continued U.S. economic growth and labor market improvement. The comments, which echoed those this week of Fed Vice Chairman Stanle
  
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• UPDATE 1-Fed's Mester unmoved, says U.S. to overcome 'soft patch'

  04-02-2016 23:42
  
  NEW YORK, Feb 4 (Reuters) - The U.S. economy remains sound and will overcome recent market turbulence, allowing the Federal Reserve to continue tightening its monetary policy as planned, a top Fed...
  
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• U.S.-based stock funds post fifth straight week of withdrawals - Lipper

  04-02-2016 23:26
  
  NEW YORK, Feb 4 (Reuters) - Investors pulled $6.5 billion out of U.S.-based stock funds during the week that ended Feb. 3, Lipper data showed on Thursday, as investors shunned risky financial assets...
  
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• No 'draconian measures' for Greece: IMF's Lagarde

  04-02-2016 23:18 via news.yahoo.com
  
  The International Monetary Fund does not wish to slap "draconian measures" on hard-up Greece but wants more government progress on pension reform, IMF chief Christine Lagarde said Thursday. Lagarde spoke as Greece was hit by a general strike that brought tens of thousands of people into the streets in protest over pension reforms, a key part of Greece's latest economic bailout by the European Union.
  
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• Lipper fund flows IG US$1.451bn outflow; HY US$40.897m outflow

  04-02-2016 23:14
  
  NEW YORK, Feb 4 (IFR) - For the week ended Feb 3, Lipper US Fund Flows reported the following:
  
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• UPDATE 2-IMF chief: China can avoid 'hard landing' but spillovers seen

  04-02-2016 23:02
  
  WASHINGTON, Feb 4 (Reuters) - China can avoid a "hard landing" if Beijing pursues reforms to state enterprises and sticks to a more market-driven and well-communicated exchange rate policy,...
  
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• New York City mayor wants city retirement system for private employees

  04-02-2016 23:00
  
  NEW YORK, Feb 4 (Reuters) - New York City's mayor Bill de Blasio will call for a city-run retirement system for private sector employees in his annual keynote address on Thursday.
  
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• Fed's Mester says U.S. economy to overcome 'soft patch'

  04-02-2016 23:00
  
  NEW YORK, Feb 4 (Reuters) - The U.S. economy remains sound and will overcome recent market turbulence, allowing the Federal Reserve to continue tightening its monetary policy as planned, a top Fed...
  
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• Ukraine government puts on united front amid political crisis

  04-02-2016 22:58 via news.yahoo.com
  
  By Pavel Polityuk and Natalia Zinets KIEV (Reuters) - Three Ukrainian cabinet members who had previously tendered their resignations will now remain in their posts, the government announced on Thursday, a show of unity a day after the abrupt exit of a key minister. Prime Minister Arseny Yatseniuk held an emergency cabinet meeting that looked to repair the damage from the departure of Economy Minister Aivaras Abromavicius, which had been seen as a major blow to Ukraine's fight against corruption.
  
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• Exclusive: Hedge fund firm Standard Pacific Capital to shut - letter

  04-02-2016 22:40
  
  NEW YORK (Reuters) - Standard Pacific Capital, the stock-focused hedge fund firm led by Doug Dillard and Raj Venkatesan, is shutting down, according to a letter sent to investors seen by...
  
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• US stocks end modestly higher after a day of wavering

  04-02-2016 22:31 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks posted modest gains Thursday as investors await Friday's closely watched jobs report, which could offer insight about the U.S. economy and help determine whether the Federal Reserve raises interest rates again next month.
  
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• Canada's Centerra given go-ahead to mine Mongolian gold deposit

  04-02-2016 22:31 via news.yahoo.com
  
  By Terrence Edwards ULAN BATOR (Reuters) - Canada's Centerra Gold Inc has received the go-ahead from lawmakers in Mongolia to mine the Gatsuurt deposit after a five-year delay, as that resource-rich country looks to bolster its economic activity and gold reserves. Mongolia's once-booming economy has taken a steep slide, with the Asian Development Bank estimating 2015 growth at less than 3 percent compared with 17.5 percent in 2011. Mongolia hopes to boost revenue and stimulate growth by advancin
  
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• Millennials spend big for Super Bowl fun

  04-02-2016 22:30
  
  NEW YORK (Reuters) - Sasha Amini is planning quite a spread for Sunday's Super Bowl.
  
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• TREASURIES-Yields fall as investors position for Friday's jobs data

  04-02-2016 22:12 via news.yahoo.com
  
  Treasuries' yields ended lower on Thursday as data showed weaker U.S. growth and investors closed trades that had bet on further interest rate increases ahead of Friday's closely watched employment report. The number of Americans filing for unemployment benefits rose more than expected last week, suggesting some loss of momentum in the labor market amid a sharp economic slowdown and stock market selloff.
  
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• Zika fears attract fund managers to exterminator Rollins shares

  04-02-2016 21:39 via news.yahoo.com
  
  By David Randall NEW YORK (Reuters) - Rollins Inc , parent of extermination company Orkin, has seen its shares jump 5 percent during this year's stock market selloff because investors expect fears of the mosquito-borne Zika virus will lead to increased revenues. "If you have termites in your house you want to get that problem solved without calling around to get the best price.” A total of 59 mutual fund and hedge funds have added shares of the company over the last three months, a jump of
  
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• Amazon renews credit card deal with JPMorgan - WSJ

  04-02-2016 21:11 via news.yahoo.com
  
  (Reuters) - Online retailer Amazon.com Inc has renewed its long-running credit card relationship with JPMorgan Chase & Co , the Wall Street Journal reported. At least one other card issuer was also interested in a tie-up with Amazon for payment cards, the Journal reported on Thursday, citing people familiar with the matter. (http://on.wsj.com/1X6lBmP) The financial details of the deal were not available, the Journal said. A JPMorgan spokeswoman declined to comment. Amazon was not immediately
  
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• Ukraine minister's reasons for exit a 'concern': Lagarde

  04-02-2016 21:06 via news.yahoo.com
  
  International Monetary Fund chief Christine Lagarde said Thursday the abrupt resignation of Ukraine's reformist economy minister, who cited government corruption, was a troubling sign for its bailout program. "His recently announced resignation is a concern," Lagarde said in an online news conference when questioned about the resignation of Aivaras Abromavicius on Wednesday in protest at alleged influence-peddling and state graft. The IMF is the main source of rescue financing for Ukraine as the
  
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• Morgan Stanley's new president cements role as enforcer-in-chief

  04-02-2016 20:35 via news.yahoo.com
  
  By Olivia Oran NEW YORK (Reuters) - Colm Kelleher is a stickler for discipline, even when it comes to the office dress code. In an internal risk meeting during the summer of 2010, the then head of trading at Morgan Stanley chastised colleagues for rolling up their shirt sleeves and dispensing with their jackets in the New York heat, according to a former executive. Kelleher's role as enforcer-in-chief at Morgan Stanley was solidified last month when the Wall Street firm's Chief Executive James G
  
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• PROFILE-Morgan Stanley's new president cements role as enforcer-in-chief

  04-02-2016 20:24 via news.yahoo.com
  
  Colm Kelleher is a stickler for discipline, even when it comes to the office dress code. In an internal risk meeting during the summer of 2010, the then head of trading at Morgan Stanley (Xetra: 885836 - news) chastised colleagues for rolling up their shirt sleeves and dispensing with their jackets in the New York heat, according to a former executive. Kelleher's role as enforcer-in-chief at Morgan Stanley was solidified last month when the Wall Street firm's Chief Executive James Gorman named h
  
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• Delta CEO-designate: Zika has not impacted flight bookings

  04-02-2016 20:24 via news.yahoo.com
  
  "Candidly, it would be hard to see much change," given that Delta's unit revenue to Brazil has already fallen sharply because of the country's economic slowdown, said Ed Bastian, set to become the carrier's new chief executive in May. The World Health Organization, citing strong suspicions of a link between the mosquito-borne virus and thousands of cases in Brazil of babies born with abnormally small heads, declared a global health emergency on Monday.
  
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• Iran says good commercial relations with Britain can resume

  04-02-2016 19:59 via news.yahoo.com
  
  LONDON (Reuters) - Iranian Foreign Minister Mohammad Javad Zarif said on Thursday that good economic and commercial relations could resume with Britain. "Iran and Britain have had traditionally good commercial and economic relations and I think those can resume," Zarif said at Chatham House in London. "We need to work together on moving the political relations forward." Iran has 9.3 percent of the world's proven oil reserves, the fourth largest after Venezuela, Saudi Arabia and Canada, and 18.2
  
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• IMF chief sees risks in emerging-markets slowdown

  04-02-2016 19:51 via news.yahoo.com
  
  International Monetary Fund chief Christine Lagarde warned Thursday that the slowdown in emerging-market economies could lead to rising inequalities in the global economy. In the wake of China's cooling economy and the steep fall in commodity prices, the emerging-market economies are seeing growth falter and are facing "a new, harsh reality," Lagarde said in a speech at the University of Maryland. China, the world's second-largest economy, posted its weakest growth in a quarter of a century in 2
  
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• Here’s a Part of the Housing Market That’s Really Booming

  04-02-2016 19:45 via news.yahoo.com
  
  The turmoil in the stock market hasn’t hurt homeowners’ plans to spend on their properties this year, according to a new Angie’s List survey. The survey found that among homeowners who’ve already set their spending budgets for 2016, nearly 79 percent plan to spend as much or more on home improvement projects compared to last year. The Angie’s List findings confirm a report issued by the Joint Center for Housing Studies at Harvard University last month, which project
  
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• El-Erian: Markets front-run Fed in tightening financial conditions

  04-02-2016 19:45 via news.yahoo.com
  
  By Jennifer Ablan NEW YORK (Reuters) - Mohamed El-Erian, the chief economic adviser at Allianz SE , said on Thursday that with volatility rising, the markets effectively have served as front-runners to the Federal Reserve in tightening global financial conditions. "I doubt we will see the four rate hikes signaled a few weeks ago by Fed officials," El-Erian said. "Two hikes are likely, if not less." William Dudley, president of the Federal Reserve Bank of New York, said on Wednesday that financia
  
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• Crowded GoPro short sellers may soon face squeeze

  04-02-2016 19:37 via news.yahoo.com
  
  GoPro's fall from grace has created a rush by traders to short the camera maker's stock, but they may soon face a squeeze as institutional shareholders sell their shares after six months of declines. GoPro's troubles worsened on Wednesday when it forecast current-quarter revenue well below analysts' estimates, adding to a string of disappointments by a company that a year ago was a Wall Street favorite. Short interest in GoPro increased to 25.7 percent of its outstanding shares in mid-January fr
  
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• S&P, Nasdaq flat in choppy trading as oil pares gains

  04-02-2016 19:03 via news.yahoo.com
  
  Oil was lower after jumping 7 percent on Wednesday as the dollar weakened after weak U.S. data signaled that the U.S. Federal Reserve will hold off from raising rates this year. UBS cut its year-end target for the S&P 500 index to 2,175 points from 2,275 on Thursday and trimmed its earnings estimate for S&P 500 companies to $119 from $126 on weaker U.S. growth prospects.
  
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• European shares rise with Wall Street in choppy trade

  04-02-2016 19:03 via news.yahoo.com
  
  The CAC edged 0.04 percent higher, while the FTSE was up 1.06 percent. In keeping with recent volatility, European markets had rebounded in earlier trading comforted by a rise in oil prices after tumbling on Wednesday, then dipped, before finally reversing again. "The European markets find themselves trapped -- one day, it's oil, which brings them lower, the next day it's the banks, the day after it's the euro," analysts at Aurel BGC noted.
  
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• Clinton Insists She’s Not Beholden to Wall Street While Raking in $21.4 Million

  04-02-2016 19:03 via news.yahoo.com
  
  Sanders was at it again Wednesday night during a nationally televised Democratic presidential “town hall” in New Hampshire, arguing, “I do not know any progressive that has a super PAC and takes $15 million from Wall Street. When it was her time to be interviewed by CNN’s Anderson Cooper, Clinton was unrepentant about her long-standing financial ties to Wall Street and insisted she had not made a “bad error in judgement” by accepting $675,000 from Goldman Sach
  
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• Airbus says continues helicopter deal talks with Poland

  04-02-2016 18:57 via news.yahoo.com
  
  French Airbus Group's helicopter unit said on Thursday talks with Poland's economy ministry were continuing on the delivery of 50 helicopters for the Polish army, denying a media report that the deal had been scrapped. Rzeczpospolita daily reported that Poland has decided to scrap the $3 billion helicopter deal and has agreed with the French defense ministry that it will only buy "several" helicopters from Airbus, citing an unnamed source in the Polish defense ministry.
  
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• Rising U.S. layoffs hint at ebbing labor market momentum

  04-02-2016 18:40 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits rose more than expected last week, suggesting some loss of momentum in the labor market amid a sharp economic slowdown and stock market selloff.  Signs of creeping employment weakness were also flagged by another report on Thursday showing a 218 percent jump in announced job cuts by U.S.-based employers in January. The planned layoffs were concentrated in the energy and retail sectors. "The fut
  
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• Britain's pro-EU campaign predicts big victory in vote

  04-02-2016 18:09 via news.yahoo.com
  
  Britain will vote to stay in the EU by a "substantial margin" predicted the leader of a campaign to keep the world's fifth-largest economy in the trading bloc, slating the opposing "out" movement for what he said was failure to present an alternative to membership. Stuart Rose, chairman of the "Britain Stronger in Europe" group, was speaking as Prime Minister David Cameron tries to convince eurosceptics of the benefits of a potential new EU deal ahead of a referendum on membership possibly as ea
  
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• Fed's 'accommodation' outrun by tightening credit

  04-02-2016 18:02 via news.yahoo.com
  
  Even as the Federal Reserve began raising interest rates in December its message was clear: it wanted to keep monetary conditions loose and felt the United States still needed accommodation to keep a modest recovery underway. It matters to the Fed how long this goes on and what effect it has on the real economy. Friday’s payrolls report will provide an important test of how well the domestic economy is pressing through a series of related difficulties: a potential slowdown in global demand
  
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• Is it time to take your 401(k) off auto-pilot?

  04-02-2016 17:57
  
  NEW YORK (Reuters) - The U.S. stock market selloff ushered in the New Year with such a scare that a record 6 million investors called Fidelity Investments asking what they should do with their...
  
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• Wall Street fluctuates as equities track oil prices

  04-02-2016 17:41 via news.yahoo.com
  
  U.S. stock indexes fluctuated on Thursday as equities tracked oil prices. The dollar index which measures the greenback against a basket of six major currencies, hit 96.25, its lowest level in more than three months.
  
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• Industries Qatar product price drop hits earnings

  04-02-2016 17:23 via news.yahoo.com
  
  * Q4 profit falls 65 pct to 570 million riyals * Ninth profit drop in past 11 quarters * Annual profit also down despite record sales volumes (Recasts, adds details) By Matt Smith DUBAI, Feb 4 (Reuters) - Petrochemicals, metals and fertiliser producer Industries Qatar (IQ) blamed lower product prices for an extended earnings slump on Thursday. Although IQ's sales volumes hit an all-time high, the state-run firm reported a net profit of 570 million riyals ($157 million) for the three months to De
  
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• Skirmishes in Athens as general strike sweeps Greece

  04-02-2016 17:13 via news.yahoo.com
  
  Some 40,000 people from all walks of life joined protests in Athens and another 14,000 demonstrated in Thessaloniki for the 24-hour industrial action, police said, as riot officers in the capital fired tear gas in response to the Molotov cocktails. It was the broadest protest since the arrival to power of leftist Prime Minister Alexis Tsipras just over a year ago. The pensions overhaul, a key part of Greece's latest economic bailout, has sparked a major backlash against embattled Tsipras.
  
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• Dollar plunges for second day on doubts over 2016 Fed rate hikes

  04-02-2016 17:00 via news.yahoo.com
  
  By Sam Forgione NEW YORK (Reuters) - The U.S. dollar extended its plunge against major currencies on Thursday as traders sharply unwound bullish bets against the greenback on continued skepticism that the Federal Reserve would be able to hike interest rates this year. The dollar index, which measures the greenback against a basket of six major currencies, also hit its lowest level in more than 3-1/2 months, of 96.259 . Analysts said dovish comments from Fed president William Dudley to MNI on Wed
  
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• Average long-term US mortgage rate falls fifth straight week

  04-02-2016 16:49 via news.yahoo.com
  
  WASHINGTON (AP) — Average long-term U.S. mortgage rates fell for the fifth straight week amid volatility in world financial markets.
  
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• Rising U.S. layoffs point to ebbing labor market momentum

  04-02-2016 16:46 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits rose more than expected last week, suggesting some loss of momentum in the labor market amid a sharp economic slowdown and stock market selloff.  Signs of creeping employment weakness were also flagged by another report on Thursday showing a 218 percent jump in announced job cuts by U.S.-based employers in January. The planned layoffs were concentrated in the energy and retail sectors. "The fut
  
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• TREASURIES- Bonds steady, Friday's jobs report in focus

  04-02-2016 16:43 via news.yahoo.com
  
  Treasuries were steady on Thursday as data showed weaker U.S. growth, with investors focused on an employment report on Friday for further signs about economic momentum. The number of Americans filing for unemployment benefits rose more than expected last week, suggesting some loss of momentum in the labor market amid a sharp economic slowdown and stock market selloff. Signs of creeping employment weakness were also flagged by a separate report showing a 218 percent jump in announced job cuts by
  
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• European shares slip with Wall Street, but London firm

  04-02-2016 16:42 via news.yahoo.com
  
  European stocks were mostly weaker Thursday after a soft Wall Street opening, but shares in London rose after the Bank of England's latest economic forecast. At around 1445 GMT, London's benchmark FTSE 100 index stood out from the crowd at 0.57 percent higher, while Frankfurt shares were down 1.02 percent followed by Paris at 0.66 percent lower. As widely expected, the Bank of England left interest rates at a record low -- 0.5 percent -- as policymakers fretted over slumping oil prices and the d
  
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• Ukraine faces fresh crisis after economy minister quits

  04-02-2016 16:35 via news.yahoo.com
  
  Ukraine faced the prospect Thursday of a fresh political crisis sparked by its reformist economy minister's resignation in protest at alleged influence-peddling and state graft. President Petro Poroshenko and Prime Minister Arseniy Yatsenyuk hastily arranged a meeting with ambassadors from the G7 nations after the envoys expressed deep concern at Aivaras Abromavicius's shock decision to step down. Poroshenko held last-ditch talks with the Lithuanian-born minister Wednesday in a bid to change his
  
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• Controversy in Germany over plans to cap cash transactions

  04-02-2016 16:22 via news.yahoo.com
  
  A proposal by German Finance Minister Wolfgang Schaeuble to introduce a ceiling for cash payments to help combat money laundering and the financing of terrorism came under fire in Germany Thursday. In a country where people still overwhelmingly prefer to pay in cash, even the central bank or Bundesbank was critical of the government's proposal. "For citizens, any restriction in the usage of cash is a infringement on their personal economic liberty," said Carl-Ludwig Thiele, who is responsible fo
  
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• Gender pay gap can haunt women even in retirement

  04-02-2016 16:19
  
  CHICAGO (Reuters) - The gender pay gap is a hot topic in the presidential campaign, and President Barack Obama has been hammering on it, too. Women who work full-time, year-round, made just 79 cents...
  
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• Fed's Kaplan says wants to be 'very patient' about raising rates

  04-02-2016 16:04 via news.yahoo.com
  
  Robert Kaplan, the new chief of the Dallas Federal Reserve Bank, signaled on Thursday that he views further interest-rate hikes as far from imminent, saying he wants to be "very patient" in assessing the outlook for the U.S. economy. Since December, Kaplan told the Real Estate Council in Dallas, financial conditions in the U.S. have tightened, potentially slowing economic growth. Kaplan said he is also watching global developments, particularly the slowdown in China, and its potential impact on
  
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• Fed's Kaplan: energy situation may get worse before getting better

  04-02-2016 16:02 via news.yahoo.com
  
  Robert Kaplan, the new chief of the Dallas Federal Reserve Bank, said on Thursday he expects it will be early or mid-2017 before the supply of and demand for oil come into balance, with oil prices likely to be higher in a couple of years. "The energy situation may get a little worse before it gets better," Kaplan told the Real Estate Council in Dallas, referring to the negative impact that low oil prices have had on the Texas economy. As demand for oil rises this year, he forecast, oversupply wi
  
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• Egypt sees World Bank funds arriving soon, eyes more Saudi aid

  04-02-2016 16:01 via news.yahoo.com
  
  By Lin Noueihed CAIRO (Reuters) - Egypt expects to receive a $1 billion World Bank loan approved in December once outstanding paperwork is finalised and is negotiating to secure more aid from Saudi Arabia, International Cooperation Minister Sahar Nasr said on Thursday. Egypt has been negotiating billions of dollars in aid from various lenders to help revive an economy battered by political upheaval since the 2011 revolt and ease a dollar shortage that has crippled import activity and hampered re
  
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• Somali central bank chief seeks new currency to rebuild nation

  04-02-2016 15:44 via news.yahoo.com
  
  By Drazen Jorgic NAIROBI (Reuters) - Few central bank chiefs have been jailed by a dictator or hide a loaded pistol in their desk draw, should Islamist militants decide to call. Bashir Issa Ali has done all that, and now he wants to recreate Somalia's currency from scratch. Serving his third term in a long career interrupted by exile, disputes with the government, and the spell in prison, Ali wants Somalia to print its first banknotes since the 1980s to help rebuild an economy emerging from deca
  
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