Finance news

• United orders 25 more Boeing 737s worth $2 billion - sources

  22-02-2016 23:32 via news.yahoo.com
  
  Boeing Co has won an order for 25 current-generation Boeing 737 aircraft from United Continental Holdings Inc , beating rivals including Canada's Bombardier Inc for the second time in a month, two industry sources said on Monday. Boeing and United both declined to comment. The deal with Boeing, first reported by the Wall Street Journal, comes weeks after United agreed to buy 40 Boeing 737-700 jets listed at $3.2 billion.
  
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• EFG agrees to buy BSI from Brazil's BTG Pactual for $1.3 billion

  22-02-2016 23:21
  
  ZURICH (Reuters) - EFG International AGhas agreed to pay 1.33 billion Swiss francs ($1.34 billion) for Grupo BTG Pactual SA's Swiss private-banking unit BSI Ltd in a deal that could catapult it...
  
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• BHP Billiton posts half-year net loss of US$5.67 billion

  22-02-2016 23:16 via news.yahoo.com
  
  Global mining giant BHP Billiton Tuesday posted a first-half net loss of US$5.67 billion and slashed dividends as plunging commodity prices on the back of a slowing Chinese economy hammered the bottom line. "Slower growth in China and the disruption of OPEC have resulted in lower prices than expected," said chief executive Andrew Mackenzie. The Anglo-Australian miner has been hard hit by falling prices for its two main commodities, iron ore and oil, with the company scrapping a long-held pledge
  
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• Wall St lifted by muscular oil rally but some still skittish

  22-02-2016 22:39 via news.yahoo.com
  
  (Reuters) - Wall Street surged on Monday, helped by a robust rally in oil prices that lifted recently crushed energy stocks, including Chevron and Schlumberger.
  
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• Wall Street lifted by muscular oil rally but some still skittish

  22-02-2016 22:37 via news.yahoo.com
  
  Wall Street surged on Monday, helped by a robust rally in oil prices that lifted recently crushed energy stocks, including Chevron and Schlumberger. As it has for months, Wall Street followed the lead of global oil prices in a trend that has left the S&P 500 down 5 percent so far in 2016, following a partial recovery last week. Monday's stock gains were as broad as they were strong, with all 10 major S&P sectors finishing higher, but investors shell-shocked by this year's market turbulen
  
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• US STOCKS-Wall St lifted by muscular oil rally but some still skittish

  22-02-2016 22:37 via news.yahoo.com
  
  Wall Street surged on Monday, helped by a robust rally in oil prices that lifted recently crushed energy stocks, including Chevron and Schlumberger. As it has for months, Wall Street followed the lead ...
  
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• BTG Pactual to consider deal to take company private: Bloomberg

  22-02-2016 22:00
  
  (Reuters) - Brazilian investment bank Grupo BTG Pactual SAis in negotiations with potential partners to buy out public shareholders as it seeks to repay the rescue financing it obtained following...
  
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• Orange says needs time to negotiate Bouygues Telecom deal

  22-02-2016 21:40
  
  BARCELONA, Spain (Reuters) - Orangeand Bouyguesare discussing different deal structures about the sale of the construction group's Bouygues Telecom unit to the French telecoms operator, Orange...
  
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• Colorado can enforce its 'Amazon tax' law: U.S. appeals court

  22-02-2016 21:35 via news.yahoo.com
  
  Monday's decision by the 10th U.S. Circuit Court of Appeals in Denver reversed a lower court ruling that blocked Colorado from enforcing its so-called "Amazon tax" law, named for online retailer Amazon.com Inc. It is a defeat for the Direct Marketing Association, a trade group that challenged the 2010 law, and which a year ago won U.S. Supreme Court permission to pursue its case. The law requires retailers that do not collect sales taxes to report transactions to customers and state tax authorit
  
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• United orders 25 more Boeing 737 worth $2 billion: sources

  22-02-2016 21:09 via news.yahoo.com
  
  Boeing Co has won an order for 25 current-generation Boeing 737 aircraft from United Continental Holdings , beating rivals including Canada's Bombardier for the second time in a month, two industry sources said. Boeing and United Continental both declined to comment. The follow-on deal with Boeing, first reported by the Wall Street Journal, comes weeks after United agreed to buy 40 Boeing 737-700 jets.
  
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• Wall St. lifted by muscular oil rally but some still wary

  22-02-2016 20:55 via news.yahoo.com
  
  (Reuters) - Wall Street surged on Monday, helped by a robust rally in oil prices that lifted recently-crushed energy stocks, including Chevron and Schlumberger.
  
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• Hutchison to argue merits of UK deal at March 4 hearing: sources

  22-02-2016 20:50
  
  BRUSSELS - CK Hutchison Holdingswill seek to convince EU antitrust regulators of the merits of its proposed buy of Telefonica'sBritish mobile unit at a hearing on March 4, three people familiar...
  
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• Oil prices lift the market again as energy stocks rally

  22-02-2016 20:03 via news.yahoo.com
  
  NEW YORK (AP) — Stocks are jumping Monday as the price of oil surges, lifting energy stocks as well as mining and chemicals companies. The stock market is coming off its best week of the year and has recovered its losses from earlier in the month.
  
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• Moody's warns on top Canadian banks; smaller rivals feeling the heat

  22-02-2016 19:59 via news.yahoo.com
  
  By John Tilak and Euan Rocha TORONTO (Reuters) - Moody's warned on Monday that the oil price slump will strain profitability at Canada's largest banks, which begin reporting results this week, however analysts expect regional banks will feel the brunt of the pain as the energy-rich province of Alberta reels from the downturn. The rating agency said under its severe stress scenario some of the country's big six - Royal Bank of Canada, Toronto Dominion, Bank of Nova Scotia, Bank of Montreal, CIBC
  
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• US economy growing but faces international headwinds

  22-02-2016 19:34 via news.yahoo.com
  
  WASHINGTON (AP) — The U.S. economy has just completed the best two years of job growth since the 1990s, wages are on the rise and consumers are more confident about the economy than they've been in more than a decade. But the United States faced global headwinds that will continue this year, according to the latest report from the president's Council of Economic Advisers.
  
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• Sainsbury given more time for Home Retail bid

  22-02-2016 19:13
  
  LONDON (Reuters) - British supermarket operator Sainsburyhas been given more time to make a firm bid for Argos-owner Home Retail , after a possible higher rival offer from South African group...
  
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• Wall Street rallies as oil lifts energy, materials stocks

  22-02-2016 19:09 via news.yahoo.com
  
  By Abhiram Nandakumar (Reuters) - Wall Street rose on Monday as prices of oil and other commodities surged, pointing to an uptick in investors' risk appetite following a rout in global markets. The recovery in prices of crude and metals comes on the heels of better-than-expected U.S. jobs and inflation data, which has helped stabilise the market. Gains were broad-based, with all 10 major S&P sectors higher. Including Monday's gains, the S&P 500 is up 4.1 percent in the past 5 days. ...
  
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• Oil soars 7 percent on bets of U.S. shale output falling, equity rally

  22-02-2016 18:37 via news.yahoo.com
  
  By Barani Krishnan NEW YORK (Reuters) - Oil markets jumped as much as 7 percent on Monday as speculation about falling U.S. shale output and a rally in equities fed the notion that crude prices may be bottoming after their 20-month collapse. The markets began the week with a rebound in Asian trade, reacting to Friday's U.S. rig count data, which showed the number of oil drilling rigs in operation falling to a December 2009 low after nine straight weeks of cuts. Higher equity prices on Wall Stree
  
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• Canada government warns of big budget deficits, growth forecast cut

  22-02-2016 18:36 via news.yahoo.com
  
  By David Ljunggren OTTAWA (Reuters) - Canada's Liberal government warned on Monday it would run much bigger budget deficits than previously anticipated, amid weaker-than-expected economic growth caused by low commodity prices. The announcement by Finance Minister Bill Morneau confirmed that the Liberals' economic estimates during last year's successful election campaign had been too rosy. Growth in 2016 would be 1.4 percent, down from the 2.0 percent forecast used in the finance department's las
  
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• British PM warns on Brexit risks as sterling plunges

  22-02-2016 18:29 via news.yahoo.com
  
  Prime Minister David Cameron warned Monday that a vote to leave the EU would risk Britain's economic and national security, as uncertainty over the outcome of the June referendum sent the pound plunging. In a speech to the House of Commons, the Conservative leader launched a barely-veiled attack on London mayor Boris Johnson, his long-term rival who has come out for a Brexit, accusing him of taking the position for political gain. As sterling fell to a near seven-year low against the dollar on t
  
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• Western Digital investor Alken pushes to cancel SanDisk deal

  22-02-2016 18:11
  
  (Reuters) - Alken Asset Management, one of the biggest shareholders of hard-disk drive maker Western Digital Corp, has asked the company to consider cancelling its deal to buy SanDisk Corp, citing a...
  
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• Energy, materials stocks drive Wall Street rally

  22-02-2016 17:55 via news.yahoo.com
  
  Wall Street was higher on Monday as prices of oil and other commodities surged, pointing to an uptick in investors' risk appetite following a rout in global markets. The recovery in commodity prices comes on the heels of recent data pointing to a strengthening of the U.S. economy, which has helped stabilize the market. The S&P 500 has risen 4.1 percent in the past five days, including Monday's gains, spurred by better-than-expected jobs and inflation data.
  
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• Valeant shares sink anew on report it may restate earnings

  22-02-2016 17:24 via news.yahoo.com
  
  "We believe the Valeant board and management have made decisions that may have put Valeant at significant business and reputational risk," Maris wrote. Valeant, worth $116 billion last July, is now worth about $40 billion.
  
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• Ratings agencies reiterate Brexit would hurt UK economy

  22-02-2016 17:22 via news.yahoo.com
  By Jamie McGeever LONDON (Reuters) - Two of the world's main credit rating agencies on Monday reiterated their view that the British economy could be damaged if the country votes to leave the European Union in a referendum scheduled for June 23. Fitch Ratings said "Brexit" would come with a short-term economic cost and "significant" long-term risks, and Moody's Investors Service said it would assign a negative outlook to the country's Aa1 credit rating. "A decision to leave the EU would be credi
  
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• Canada government cuts growth forecast, to run big budget deficit

  22-02-2016 16:57 via news.yahoo.com
  
  By David Ljunggren OTTAWA (Reuters) - Canada's new Liberal government, citing a sluggish economy and low commodity prices, cut its growth forecast on Monday for 2016-17 and said it would run a much bigger budget deficit than earlier expected. Finance Minister Bill Morneau, citing an average of private sector economists' forecasts, said growth in 2016 would be 1.4 percent, down from the 2.0 percent it forecast in November. In November, the Liberals had forecast that excluding their spending plans
  
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• TSX gains on oil price jump, bank earnings positioning

  22-02-2016 16:49 via news.yahoo.com
  
  TORONTO (Reuters) - Canada's main stock index gained on Monday, as energy shares rose on a jump in oil prices and several major banks benefited from investor positioning ahead of quarterly earnings this week. The energy group climbed 3.2 percent, with pipeline operator Enbridge Inc advancing 3.3 percent to C$44.57. A world oil consumer body said it expected U.S. shale production to drop and data showed lower rig counts, pushing up oil prices that have been depressed by excessive supply. Major oi
  
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• For same-sex couples, marriage can complicate taxes

  22-02-2016 16:43
  
  NEW YORK (Reuters) - Before the Supreme Court legalized same-sex marriage across the United States last June, couples in 13 states still had to perform a complicated dance of filing separate tax...
  
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• Ethiopia's crackdown on land protests ongoing: rights group

  22-02-2016 16:30 via news.yahoo.com
  
  By Aaron Maasho ADDIS ABABA (Reuters) - Ethiopia continues to crack down on demonstrators in its vast Oromiya region some four months after protests began over plans to develop an economic zone on what is now farmland around the capital, Human Rights Watch said on Monday. "Security forces, including military personnel, have fatally shot scores of demonstrators. Thousands of people have been arrested and remain in detention without charge," Human Rights Watch said in a report.
  
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• US stocks rise, joining global rally

  22-02-2016 16:12 via news.yahoo.com
  
  New York (AFP) - Wall Street stocks rose early Monday as oil prices gained, joining a global equity rally ahead of key US economic data releases later in the week.
  
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• Energy, materials lead Wall Street gains as oil jumps

  22-02-2016 16:02 via news.yahoo.com
  
  Wall Street was higher on Monday as prices of crude oil and other commodities surged, pointing to an uptick in investors' risk appetite following a rout in global markets. Crude prices were up more than 5 percent after data showed a fall in U.S. rig counts and the International Energy Agency said it expects U.S. shale oil output to fall. Prices of industrial metals such as Copper and Zinc were also up as investors worried about potential shortages.
  
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• Goldman scales back estimate of legal costs

  22-02-2016 15:57 via news.yahoo.com
  
  (Reuters) - Goldman Sachs Group Inc has scaled back its estimate of the legal costs it may face, beyond what it has set aside, by more than half to $2 billion. The Wall Street bank, which ranked No. 1 in advising on both announced and completed mergers and acquisitions globally in 2015, is involved in a number of judicial, regulatory and arbitration proceedings. Goldman is among several financial firms targeted by a federal-state working group investigating misconduct in the sale of mortgage-bac
  
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• Vodafone CEO talks up benefits of going Dutch with Liberty

  22-02-2016 15:48
  
  BARCELONA (Reuters) - The chief executive of Vodafoneunderlined the benefits of the company's plan to work with Liberty Globalin the Netherlands, an arrangement being closely watched by analysts...
  
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• Surge in crude oil pushes energy, other stocks higher

  22-02-2016 15:44 via news.yahoo.com
  
  NEW YORK (AP) — Energy stocks are leading an early rally on Wall Street after the price of crude oil surged.
  
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• C$ strengthens as oil prices rally, risk appetite firms

  22-02-2016 15:33 via news.yahoo.com
  
  The Canadian dollar rose against its U.S. counterpart on Monday as crude oil prices rallied and risk appetite firmed, while domestic attention turned to an economic update from Finance Minister Bill Morneau. Oil prices rose after the world's oil consumer body said it expected U.S. shale production to fall this year and next, potentially reducing the glut in supplies. U.S. crude prices were up 5.26 percent to $31.20 a barrel.
  
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• Ivory Coast banks' assets rise 25 pct in 2015

  22-02-2016 15:14 via news.yahoo.com
  
  ABIDJAN (Reuters) - The assets of Ivory Coast's banking sector rose 25 percent in 2015 to 7.25 trillion CFA francs ($12.30 billion), helped by the the West African country's robust economic growth, a trade body said on Monday. "At the end of December 2015, global resources increased by 25 percent ... adding more than 1.457 billion in supplementary deposits in comparison with Dec. 2014," the Professional Association of Banks and Financial Institutions said in a statement. The Ivory Coast banking
  
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• Wall Street set for higher open as oil prices extend gains

  22-02-2016 15:11 via news.yahoo.com
  
  Wall Street was on track to open sharply higher on Monday as prices of crude oil and other commodities surged, pointing to an uptick in investors' risk appetite following a rout in global markets. Crude prices were up more than 5 percent after data showed a fall in U.S. rig counts and the International Energy Agency said it expects U.S. shale oil output to fall. Prices of industrial metals such as Copper and Zinc were also up as investors worried about potential shortages.
  
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• Tuesday preview: Market braces for batch of full year earnings results

  22-02-2016 15:03 via news.yahoo.com
  
  (ShareCast News) - The market is bracing for a busy day of full year earnings releases from a slate of FTSE 350 companies on Tuesday.
  
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• Italy's growth woes cast shadow over Renzi's anniversary

  22-02-2016 14:55 via news.yahoo.com
  
  By Gavin Jones ROME (Reuters) - Italy's public debt will fall as promised this year as long as the economy holds up, Prime Minister Matteo Renzi said on Monday, as Rome's familiar growth and public finance problems threatened to overshadow the start of his third year in office. "If we have growth of 1.4 percent and a budget deficit of 2.4 percent then the debt will fall," Renzi told foreign journalists at a news conference called to celebrate two years since he ousted a party rival to become pri
  
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• Saudi Arabia says war games will boost military ties with Muslim allies

  22-02-2016 14:52 via news.yahoo.com
  
  The Middle East's largest ever war games are now underway and will boost military cooperation between the 20 Muslim nations taking part, host country Saudi Arabia said on Monday, as it seeks to check the growing influence of arch rival Iran. "The council of ministers ... expressed the hope that these exercises achieve what was defined as their goals in exchanging expertise and raising the level of military coordination," Saudi Arabia's cabinet said in a statement. Sunni Muslim Saudi Arabia is co
  
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• Goldman slashes legal cost estimate

  22-02-2016 14:22 via news.yahoo.com
  
  (Reuters) - Goldman Sachs Group Inc cut the upper end of its estimate of legal costs it may face beyond what it has set aside by more than half to $2 billion. The Wall Street bank, which ranked No. 1 in advising on both announced and completed mergers and acquisitions globally in 2015, is involved in a number of judicial, regulatory and arbitration proceedings. Goldman is among several financial firms targeted by a federal-state working group probing misconduct in the sale of mortgage-backed sec
  
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• Sterling jarred as EU exit campaign intensifies, but FTSE gains

  22-02-2016 14:11 via news.yahoo.com
  
  By Patrick Graham LONDON (Reuters) - Sterling headed towards its biggest loss in almost six years against the dollar on Monday as traders homed in on narrowing bookmaker odds on a British exit from the European Union, but the weaker pound lifted UK blue chip stocks. London's stock markets, however, were up more than 1 percent. "The out camp were struggling to get a figurehead who was popular and Boris has given them that boost," said Alvin Tan, a strategist with French bank Societe Generale in L
  
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• GLOBAL MARKETS-Stocks gain broadly, pound falls on EU exit fears

  22-02-2016 13:57
  
  LONDON, Feb 22 (Reuters) - Shares rose in Europe and Asia on Monday, boosted by higher oil and commodity prices, while sterling fell sharply against the dollar and euro on concerns Britain may vote...
  
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• Goldman cuts top end of legal loss estimate by 62 percent

  22-02-2016 13:47 via news.yahoo.com
  
  The Wall Street bank is involved in a number of judicial, regulatory and arbitration proceedings. For the fourth quarter, the bank reported a 64 percent jump in non-compensation costs due mainly to the $1.95 billion set aside for litigation and regulatory issues. Goldman, which released the latest figure in a regulatory filing, is among several financial firms targeted by a federal-state working group probing misconduct in the sale of mortgage-backed securities prior to the financial crisis.
  
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• RPT-As U.S. shale sinks, pipeline fight sends woes downstream

  22-02-2016 13:00
  
  WILMINGTON, Del., Feb 22 (Reuters) - Within weeks, two low-profile legal disputes may determine whether an unprecedented wave of bankruptcies expected to hit U.S. oil and gas producers this year will...
  
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• Zimbabwe tells diamond mining companies to cease operations

  22-02-2016 12:34 via news.yahoo.com
  
  Diamond mining companies in Zimbabwe's Marange fields are to stop their operations immediately because their licences have expired, the country's mines minister said on Monday. "Since they no longer hold any titles, these companies were notified this morning to cease all mining activities with immediate effect," Walter Chidhakwa told reporters and executives from the affected mines. The new state-owned Zimbabwe Consolidated Diamond Company will now hold all the diamond claims in the country, Chi
  
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• Global stocks rally but pound falters on "Brexit" fear

  22-02-2016 12:26 via news.yahoo.com
  
  World stock markets rallied Monday, extending their recovery after recent turmoil, but analysts warned of further volatility ahead. "A rebound in oil prices and a rally in Asia... has seen European markets rise in early trade as investors attempt to capitalise on the continued positive momentum and move back towards risk that has seen markets rally strongly" in recent sessions, said Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor. In late morning deals, London's benchmar
  
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• Republican Marco Rubio winning Wall Street fundraising race

  22-02-2016 12:07 via news.yahoo.com
  
  WASHINGTON/NEW YORK (Reuters) - Republican Marco Rubio's presidential run has drawn more money from Wall Street donors than any other candidate, according to a Reuters review of campaign finance disclosures, shoring up his position as his party's establishment alternative to front-runner Donald Trump. The U.S. senator from Florida has received more than $4 million from the employees of banks and investment firms like Bank of America Corp , Deutsche Bank and Goldman Sachs Group Inc since launchin
  
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• North American stock markets rise as oil surges

  22-02-2016 12:01 via news.yahoo.com
  
  Stock markets in Toronto and New York were solidly higher in late morning trading on Monday as crude oil jumped by six per cent and metals prices surged. "Stock market prices and oil prices have been tracking each other like a shadow through the first part of the year," said Michael Scanlon, managing director and portfolio manager for John Hancock Asset Management. The rise in oil came despite a report from the International Energy Agency which forecast that oil prices would not see an
  
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• HSBC shares drop after shock Q4 loss

  22-02-2016 11:52 via news.yahoo.com
  
  Global banking giant HSBC on Monday reported a shock pre-tax loss in the last quarter of 2015 with results for the year missing analysts' expectations, as it grapples with "seismic shifts" in the world economy. HSBC last year announced a radical overhaul of its business to cut costs that included shedding 50,000 jobs worldwide, exiting unprofitable businesses and focusing more on Asia. Like many global banks, HSBC is combating turmoil in global financial markets that has seen stocks and commodit
  
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• EMERGING MARKETS-Emerging assets extend gains, pinning hopes on G20 action

  22-02-2016 11:49
  
  LONDON, Feb 22 (Reuters) - Emerging stocks rose 0.7 percent on Monday to extend last week's gains, tracking world equity markets higher on expectations of a policy action announcement from the G20...
  
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