Finance news

• Bailout inspectors to return to Greece to finish review

  07-03-2016 23:21 via news.yahoo.com
  
  BRUSSELS (AP) — Greece's bailout inspectors were cleared Monday to return to Athens to complete a much-delayed review of the government's economic reform commitments that, if deemed sufficient, will pave the way for talks on relieving the country's debt burden.
  
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• UPDATE 1-Canada's Corus need not reveal more on Shaw media deal -regulator

  07-03-2016 23:15
  
  TORONTO, March 7 (Reuters) - A major Canadian securities regulator on Monday ruled that Corus Entertainment Inc need not disclose more details of its C$2.65 billion ($2 billion) proposal to buy media...
  
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• Bernie and Hillary Take the Gloves Off in a Fiery Debate

  07-03-2016 23:15 via news.yahoo.com
  
  Aside from their shared outrage over Flint’s water woes, Hillary Clinton and Bernie Sanders could agree on little else during last night’s debate as they challenge one another for the democratic presidential nomination. Both candidates scored points with telling attacks: Sanders berated Clinton for accepting huge speaking fees from Wall Street bankers and other special interests and for backing major international trade agreements that drained the economy of millions of jobs. Clinton
  
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• SEC charges Wells Fargo, Rhode Island agency with securities fraud

  07-03-2016 23:11 via news.yahoo.com
  
  Wells Fargo Securities and Rhode Island's economic development agency defrauded investors to finance the company, called 38 Studios, the SEC said. The company was named after Schilling's Major League jersey number.
  
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• CANADA FX DEBT-C$ strengthens to 3-1/2 month high as oil rallies

  07-03-2016 23:11
  
  (Adds dealer quotes, details on curve, updates prices) * Canadian dollar ends at C$1.3276, or 75.32 U.S. cents * Currency touched its strongest since Nov. 19 at C$1.3262 * Bond prices lower across...
  
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• UPDATE 4-SEC charges Wells Fargo, Rhode Island agency with securities fraud

  07-03-2016 23:10
  
  March 7 (Reuters) - The U.S. Securities and Exchange Commission on Monday charged a Wells Fargo & Co unit and a Rhode Island agency with civil fraud stemming from a bond deal for a now-bankrupt...
  
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• Stock market posts meager gains, led by energy companies

  07-03-2016 23:01 via news.yahoo.com
  
  NEW YORK (AP) — Stocks wavered throughout the day but managed to eke out modest gains Monday as oil prices rose.
  
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• Oil prices rally; S&P 500 up for a fifth session

  07-03-2016 22:57 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - Oil prices jumped on Monday as optimism rose that major producers might reach a price support deal, helping U.S. stocks to notch a fifth straight session of gains. Brent hit its highest level since December, climbing $2.12, or 5.5 percent, to settle at $40.84 a barrel, while U.S. crude rose $1.98, or 5.5 percent, to settle at $37.90. On Monday, the Ecuadorean government said Latin American oil producers agreed to meet on Friday in Quito to coordinate
  
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• S&P 500 ticks above 2,000 as energy offsets tech slide

  07-03-2016 22:56 via news.yahoo.com
  
  The Dow Jones industrial average and the S&P 500 index closed higher on Monday as a spike in energy shares offset sharp declines in large-cap technology names, which dragged down the Nasdaq. Crude prices, which have largely dictated the direction of the stock market this year, were up more than 5 percent. The S&P 500 energy sector , up 2.4 percent, rose for the fifth consecutive session, a streak not seen since October.
  
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• Lawsuit over Flint, Michigan, crisis says 17 children have high lead levels

  07-03-2016 22:53 via news.yahoo.com
  
  A group of Flint, Michigan, parents and their children filed a class action on Monday alleging that gross negligence by Michigan Governor Rick Snyder and others caused the city's drinking water to become contaminated with lead. The lawsuit was filed in Detroit federal court and seeks damages for a proposed class of "tens of thousands" of Flint residents and property owners who have suffered physical or economic injuries. The named plaintiffs are seven residents and their 17 children who lawyers
  
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• Lawsuit over Flint water crisis says 17 children have high lead levels

  07-03-2016 22:52 via news.yahoo.com
  
  A group of Flint, Michigan, parents and their children filed a class action on Monday alleging that gross negligence by Michigan Governor Rick Snyder and others caused the city's drinking water to become contaminated with lead. The lawsuit was filed in Detroit federal court and seeks damages for a proposed class of "tens of thousands" of Flint residents and property owners who have suffered physical or economic injuries. The named plaintiffs are seven residents and their 17 children who lawyers
  
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• Wall Street bonuses tumble in 2015 - New York state comptroller

  07-03-2016 22:51 via news.yahoo.com
  
  The average Wall Street bonus fell 9 percent to $146,200 in 2015 as volatile financial markets hurt profits at New York's broker-dealer firms, according to a report released by a top New York state financial watchdog on Monday. The overall bonus pool fell 6 percent to $25 billion at broker-dealer operations of New York Stock Exchange member firms, the report said. "Wall Street bonuses and profits fell in 2015, reflecting a challenging year in the financial markets," New York State Comptroller Th
  
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• GLOBAL MARKETS-Oil prices rally; S&P 500 up for a 5th session

  07-03-2016 22:50
  
  * U.S. bond yields rise on jobs momentum (Updates with U.S. markets' closing levels)
  
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• UPDATE 3-Wall Street bonuses tumble in 2015 -NY state comptroller

  07-03-2016 22:39
  
  NEW YORK, March 7 (Reuters) - The average Wall Street bonus fell 9 percent to $146,200 in 2015 as volatile financial markets hurt profits at New York's broker-dealer firms, according to a report...
  
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• UPDATE 2-HomeTown Buffet, affiliated dining chains file for bankruptcy

  07-03-2016 22:34
  
  WILMINGTON, Del., March 7 (Reuters) - The owner of HomeTown Buffet and other buffet dining chains filed on Monday for Chapter 11 bankruptcy, blaming a lawsuit that was not disclosed when its current...
  
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• MOVES-Goldman taps Scher for risk management post

  07-03-2016 22:30
  
  NEW YORK, March 7 (IFR) - Goldman Sachs tapped Susie Scher to run its Americas investment grade capital markets and risk management group - a new group that combines financing and risk management...
  
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• Greece clears bailout hurdle with debt relief pledge

  07-03-2016 22:01 via news.yahoo.com
  
  Greece cleared a crucial hurdle in its massive bailout programme on Monday as eurozone ministers promised to consider debt relief to Athens, which is already under pressure from the refugee crisis. Bailout monitors from the EU and IMF will return to Greece as soon as Tuesday in an effort to complete a long-delayed review of the programme that could unlock rescue cash, European Economic Affairs Commissioner Pierre Moscovici said. "I am very happy that mission chiefs are going to Athens as soon as
  
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• Obama says both left and right are wrong on Wall Street rules

  07-03-2016 21:53 via news.yahoo.com
  
  U.S. President Barack Obama on Monday defended his efforts to rein in Wall Street, telling Americans that his administration cracked down effectively on banks and trading firms after the financial crisis of 2007-2009. Obama, now in the last 10 months of his presidency, met at the White House with Federal Reserve Chair Janet Yellen and other top regulators to talk about their progress implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act he signed into law in 2010.
  
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• S&P 500 flat as energy spike offsets tech slide

  07-03-2016 21:51 via news.yahoo.com
  
  Major U.S. stock indexes were mixed in late Monday trading as a spike in energy shares offset sharp declines in large-cap technology names. The S&P 500 energy sector , up 2 percent, rose for the fifth consecutive session, a streak not seen since October. "Oil is stabilizing and that is helping to bolster sentiment in overall equity returns," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management in Minneapolis.
  
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• UPDATE 3-BlackRock gold fund may face penalties over unregistered share issue

  07-03-2016 21:32
  
  NEW YORK, March 7 (Reuters) - BlackRock Inc's iShares Gold Trust may face penalties and other costs after the U.S.-listed fund sold $296 million in shares earlier this year without properly...
  
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• LATAM CLOSE-America Movil taps LatAm primary with Euro 2-part

  07-03-2016 21:32
  
  * America Movil sell first deal in LatAm in 9 days * America Movil sees 10bp in price progression * Rally in oil boosts LatAm sentiment * Lula detention on Friday seen as sweeping of old guard By...
  
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• UPDATE 2-Obama says both left and right are wrong on Wall Street rules

  07-03-2016 21:29
  
  WASHINGTON, March 7 (Reuters) - U.S. President Barack Obama on Monday defended his efforts to rein in Wall Street, telling Americans that his administration cracked down effectively on banks and...
  
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• UPDATE 2-Euro zone to discuss Greek debt relief soon, after reform review

  07-03-2016 21:29
  
  BRUSSELS, March 7 (Reuters) - Euro zone finance ministers will begin discussing debt relief for Greece after once international lenders verify that Athens has carried out promised reforms, Jeroen...
  
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• GLOBAL MARKETS-Brent hits 2016 peak above $40; U.S. stocks dip

  07-03-2016 21:28
  
  * U.S. bond yields rise on jobs momentum, govt supply (Updates with closing crude oil prices)
  
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• Finnish plan to revive economy risks unravelling

  07-03-2016 21:27 via news.yahoo.com
  
  A plan by Finland's centre-right government to revive the eurozone country's sluggish economy by extending working hours and reducing pay was at risk of unravelling Monday after key labour unions refused to endorse a deal. Dubbed the "social contract" by Finland's pro-austerity government, the plan would result in three extra working days per year without compensation for many workers, and employees would have to pay a greater portion of social insurance contributions. The plan is the brainchild
  
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• TREASURIES-U.S. bond prices fall on rising oil prices, ECB caution

  07-03-2016 21:26
  
  (New throughout, adds quotes, updates prices) By Tariro Mzezewa NEW YORK, March 7 (Reuters) - U.S. Treasury prices fell on Monday in volatile trading as oil prices surged in the wake of a strong...
  
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• CORRECTED-UPDATE 1-BlackRock gold fund may face penalties over unregistered share issue

  07-03-2016 21:03
  
  NEW YORK, March 7 (Reuters) - BlackRock Inc's iShares Gold Trust may face penalties and other costs after the U.S.-listed fund sold $296 million in shares earlier this year without properly...
  
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• ECB monitoring liquidity levels at some Italian banks-sources

  07-03-2016 21:02
  
  MILAN/ROME, March 7 (Reuters) - The European Central Bank is checking liquidity levels at a number of Italian banks, including Banca Carige and Monte dei Paschi di Siena , on a daily basis, two...
  
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• Stock market wobbles following four-day winning streak

  07-03-2016 20:45 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks are moving between slight gains and losses Monday as momentum from a four-day winning streak fades. Energy companies are jumping along with the price of crude oil and natural gas. Banks and technology companies are lower. Chipmaker Micron Technology is down 2.4 percent.
  
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• America Movil raises 1.5bn as LatAm tone improves

  07-03-2016 20:44
  
  NEW YORK, March 7 (IFR) - America Movil tapped the euro market for 1.5bn (US$1.65bn) of senior unsecured funding on Monday, benefitting from strengthening investor sentiment about Latin America...
  
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• Obama says 'not true' that Wall Street regulation too lax

  07-03-2016 20:25 via news.yahoo.com
  
  U.S. President Barack Obama on Monday defended his efforts to rein in Wall Street, telling Americans that his administration cracked down effectively on banks and trading firms after the financial crisis of 2007-2009.
  
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• Wells Fargo, Rhode Island agency charged with securities fraud: SEC

  07-03-2016 20:23 via news.yahoo.com
  
  Wells Fargo Securities and the economic development agency defrauded investors in order to finance the video game startup founded by former Boston Red Sox pitcher Curt Schilling, the SEC said. The company was named after Schilling's Major League jersey number.
  
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• CORRECTED-UPDATE 1-Obama says 'not true' that Wall Street regulation too lax

  07-03-2016 20:23
  
  WASHINGTON, March 7 (Reuters) - U.S. President Barack Obama on Monday defended his efforts to rein in Wall Street, telling Americans that his administration cracked down effectively on banks and...
  
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• CORRECTED-Obama says 'not true' that Wall Street regulation too lax

  07-03-2016 20:22
  
  WASHINGTON, March 7 (Reuters) - U.S. President Barack Obama on Monday defended his efforts to rein in Wall Street, telling Americans on both sides of the political spectrum that his administration...
  
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• Italy risks breaking EU fiscal rules even with all leeway granted- Eurogroup

  07-03-2016 20:18
  
  BRUSSELS, March 7 (Reuters) - Italy's 2016 budget is at risk of breaking European Union fiscal rules even if Rome is granted all possible fiscal leeway by the European Commission, euro zone finance...
  
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• Fed officials set battle lines on rate hikes ahead of March meet

  07-03-2016 20:15 via news.yahoo.com
  
  A pitched battle over the right path for U.S. interest rates is expected at next week's Federal Reserve policy setting meeting, increasing pressure on Chair Janet Yellen midway through her tenure. On Monday, the internal battle lines at the Fed were in full view as two of the central bank's most influential policymakers delivered dueling reads on the U.S. economy and the appropriate monetary policy response in simultaneous appearances in Washington, D.C. Fed Governor Lael Brainard, who has emerg
  
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• Greek bailout monitors to return as soon as Tuesday: EU

  07-03-2016 19:31 via news.yahoo.com
  
  Bailout monitors from the EU and IMF will return to Greece as soon as Tuesday in an effort to complete a long-delayed review of the programme and unlock rescue cash, European Economic Affairs Commissioner Pierre Moscovici said. Eurozone ministers will finally address debt relief for Greece, added Eurogroup chief Jeroen Dijsselbloem, meeting a key demand of Athens that has been resisted by the EU following its third bailout last year. "I am very happy that mission chiefs are going to Athens as so
  
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• Fed should remain patient in assessing outlook: Brainard

  07-03-2016 19:29 via news.yahoo.com
  
  Tighter financial conditions and softer inflation expectations mean the U.S. Federal Reserve should hold off on further interest rate rises until the outlook becomes clear, Fed Governor Lael Brainard said on Monday, suggesting a fractured discussion when officials meet next week. "Given weak and decelerating foreign demand, it is critical to carefully protect and preserve the progress we have made here at home through prudent adjustments to the policy path," Brainard said in prepared remarks bef
  
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• EU-IMF mission chiefs to return to Greece as soon as Tuesday: EU's Moscovici

  07-03-2016 19:16 via news.yahoo.com
  
  Brussels (AFP) - Senior EU and IMF officials will return to Athens as soon as Tuesday in an effort to complete a long-delayed review of the Greek bailout and unlock rescue cash, European Economic Affairs Commissioner Pierre Moscovici said.
  
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• State, Wells Fargo charged with fraud for 38 Studios deal

  07-03-2016 19:08 via news.yahoo.com
  
  PROVIDENCE, R.I. (AP) — The U.S. Securities and Exchange Commission on Monday charged Rhode Island's economic development agency and Wells Fargo with defrauding investors in the state's disastrous $75 million deal with 38 Studios, the failed video game company started by former Red Sox pitcher Curt Schilling.
  
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• Fed's Brainard calls for 'patience' on rates

  07-03-2016 19:03 via news.yahoo.com
  
  Federal Reserve Governor Lael Brainard said Monday that the central bank needs to be patient in its plans for tightening monetary policy. Brainard, a known "dove" on the policy-setting Federal Open Market Committee, warned eight days before the next FOMC meeting that, given the slow global economy and the absence of inflationary pressures, the Fed needs to be prudent after having raised its benchmark interest rate in December. Brainard was speaking to the annual Washington conference of the Inst
  
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• VW delayed announcing cheating in hope of striking deal, its lawyers say

  07-03-2016 18:44 via news.yahoo.com
  
  By Andreas Cremer and Jan Schwartz BERLIN/HAMBURG (Reuters) - Volkswagen's delay in announcing it had cheated U.S. diesel emission tests was a legitimate move aimed at striking a deal with regulators to limit the cost of the scandal, the carmaker's lawyers said in a report to a German court. The delay has led several shareholders to lodge lawsuits at the German regional court in Brunswick, claiming Volkswagen (VW) was too slow to inform them of its cheating. "The Volkswagen management board had
  
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• Obama: Wall Street reforms have worked

  07-03-2016 18:44 via news.yahoo.com
  
  WASHINGTON (AP) — President Barack Obama is rejecting criticism from those on the left and the right who say his administration hasn't done enough to prevent another financial crisis.
  
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• Wall Street Bonuses Tumble as Profits Slide

  07-03-2016 18:38 via news.yahoo.com
  
  Wall Street workers are making do with less, as the average bonus in New York’s security industry fell 9 percent in 2015, according to a new report from New York Comptroller Thomas DiNapoli. Of course, “less” is a relative term on Wall Street. “Wall Street bonuses and profits fell in 2015, reflecting a challenging year in the financial markets,” DiNapoli said in a statement.
  
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• Wells Fargo, Rhode Island agency charged with fraud for 38 Studios bonds: SEC

  07-03-2016 18:36 via news.yahoo.com
  
  Wells Fargo Securities and the economic development agency defrauded investors in order to finance the video game startup founded by former Boston Red Sox pitcher Curt Schilling, the SEC said. The company was named after Schilling's Major League jersey number.
  
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• Valeant sets earnings date, shares jump on hope for positive news

  07-03-2016 18:17 via news.yahoo.com
  
  (Reuters) - Valeant Pharmaceuticals International Inc , the subject of intense scrutiny over its business practices and pricing policies, said it would release preliminary quarterly results and guidance on March 15, raising hopes the company will serve up some positive news after months of uncertainty. Valeant's stock - which had plunged 24 percent since the company said last week that it would delay its results, withdrew 2016 guidance and was the target of an SEC probe - rose as much as 8.5 per
  
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• China fails to stimulate European stocks

  07-03-2016 18:16 via news.yahoo.com
  
  The prospect of more Chinese stimulus that set commodity markets on fire Monday failed to light up European stock markets as doubts grew over new eurozone stimulus and economic policy.
  
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• Stock market shakes off an early slide and turns higher

  07-03-2016 17:56 via news.yahoo.com
  
  U.S. stocks are moving higher in midday trading, led by energy companies as the price of crude oil and natural gas climb. Murphy Oil soared 13 percent Monday, Southwestern Energy rose 10 percent and Chesapeake ...
  
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• S&P, Nasdaq slip as tech stocks weigh

  07-03-2016 17:45 via news.yahoo.com
  
  The S&P 500 and the Nasdaq were lower on Monday as declines in technology shares outweighed gains in energy and materials stocks. An upbeat jobs report on Friday helped the S&P 500 and the Dow Jones industrial average record their first four-day winning streak in about five months. The Dow closed above 17,000 on Friday for the first time since January, while the S&P was just shy of 2,000, levels that traders consider psychologically important.
  
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• NY official: Wall Street bonuses down amid profit slide

  07-03-2016 17:03 via news.yahoo.com
  
  ALBANY, N.Y. (AP) — Average Wall Street bonuses were down 9 percent last year to $146,200 as industry profits declined, New York's comptroller reported Monday.
  
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