Finance news

• U.S.-based emerging-market funds attract most money in three years

  24-03-2016 23:55
  
  NEW YORK (Reuters) - Investors showed fresh willingness to buy risky financial assets in the latest week, delivering U.S.-based emerging-market stock funds their largest inflows in more than three...
  
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• New York's transportation hub gets massive $22 billion boost

  24-03-2016 23:53
  
  NEW YORK, March 24 (Reuters) - The New York City metro area took a giant step toward revitalizing its crumbling capacity-strained transport hubs on Thursday as a major bistate agency authorized up to...
  
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• UPDATE 1-U.S.-based emerging-market funds attract most money in 3 years

  24-03-2016 23:49
  
  (Recasts throughout; adds details on mutual fund and ETF flows, byline, table) By Trevor Hunnicutt NEW YORK, March 24 (Reuters) - Investors showed fresh willingness to buy risky financial assets in...
  
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• Brazil to resume growth by around October, finmin says

  24-03-2016 23:44
  
  SAO PAULO, March 24 (Reuters) - The Brazilian economy, in the throes of a deep recession, should start to stabilize around the middle of the year and begin expanding again by October, Finance...
  
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• UPDATE 2-GameStop forecasts revenue below estimates; shares fall

  24-03-2016 23:39
  
  * Shares fall as much as 8.5 pct after market (Adds details, executive comment)
  
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• Shutdown or not, Atlantic City still out of cash -mayor

  24-03-2016 23:22
  
  ATLANTIC CITY, March 24 (Reuters) - Atlantic City, New Jersey's down-on-its-luck seaside gambling hub, will still be broke even after it shuts down City Hall next month and delays paying police and...
  
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• Apple working with Will.i.am, TV execs on original show

  24-03-2016 23:08 via news.yahoo.com
  
  (Reuters) - Apple Inc's widely anticipated first original television show will feature the app economy. The company is working with musician Will.i.am and two veteran television executives, Ben Silverman and Howard Owens, on the show, an Apple spokesman told Reuters, confirming media reports. It was unclear how directly the TV show would promote or refer to Apple's own app store, the New York Times, which first reported the development, said. (http://nyti. ...
  
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• Ackman's hedge fund cooperating with U.S. on drug pricing probe: letter

  24-03-2016 22:58
  
  BOSTON (Reuters) - Billionaire investor William Ackman, whose hedge fund is one of the biggest investors in drug company Valeant, has been asked to supply information to U.S. legislators probing...
  
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• World markets mostly lower ahead of holiday weekend

  24-03-2016 22:43 via news.yahoo.com
  
  Global stocks mostly fell Thursday as lackluster economic data and lower oil prices weighed on sentiment.
  
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• General Dynamics wins $550 million deal for Stryker work: Pentagon

  24-03-2016 22:26
  
  WASHINGTON (Reuters) - General Dynamics Corphas won a contract from the U.S. Army valued at $550 million for continued work on Stryker ground combat vehicles, the Pentagon said on Thursday.
  
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• U.S. muni bond funds post $901.5 million in inflows: Lipper

  24-03-2016 22:00
  
  March 24 (Reuters) - U.S. municipal bond funds reported $901.5 million of net inflows in the week ended March 23, compared with $780 million in inflows in the previous week, according to data...
  
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• Why Clinton Can’t Afford to Take Her Eyes Off Bernie Sanders

  24-03-2016 21:58 via news.yahoo.com
  
  Just when it looks like the Democratic presidential primary has gone on autopilot, several new polls suggest that Hillary Clinton had better keep an eye on Bernie Sanders. Clinton garners 48 percent, while 3 percent say they are unsure. The Bloomberg poll offers further evidence that the former secretary of state continues to struggle on issues of trustworthiness and her relationship to Wall Street, a topic Sanders has used to drive home his message of economic inequality.
  
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• Wall Street closes flat, five-week rally ends

  24-03-2016 21:50 via news.yahoo.com
  
  "After the run that we've had ... I think it's natural for folks to take a deep breath and take some chips off the table," said Jeff Buetow, president of BFRC Services in Charlottesville, Virginia. The Dow Jones industrial average rose 13.14 points, or 0.08 percent, to 17,515.73, the S&P 500 lost 0.77 points, or 0.04 percent, to 2,035.94 and the Nasdaq Composite added 4.64 points, or 0.1 percent, to 4,773.51. Stocks began to dip this week after comments by U.S. Federal Reserve officials, who
  
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• Playboy magazine publisher exploring sale - source

  24-03-2016 21:33 via news.yahoo.com
  
  Playboy Enterprises [ICONAP.UL], the owner of Playboy magazine, is exploring a sale, a source familiar with the matter told Reuters, in a move that comes after the storied magazine stopped publishing nude photos of women and put up the iconic Playboy Mansion up for sale. The Wall Street Journal, which first reported the news, said the company could be valued at more than $500 million. Hugh Hefner, who founded Playboy in 1953, took the company private in 2011, along with private equity firm Rizvi
  
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• US STOCKS-Wall St headed towards end of five-week rally on dollar strength

  24-03-2016 20:43 via news.yahoo.com
  
  Wall Street stocks were mostly slightly lower on Thursday as dollar strength damaged oil and commodity share prices and financials weakened, threatening to end the S&P 500's five-week winning streak. "After ...
  
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• Banco Popolare, BPM say merger to create 'a solid bank'

  24-03-2016 18:39
  
  MILAN (Reuters) - Banco Popolareand Banca Popolare di Milano (BPM)outlined on Thursday their merger plan to create Italy's third biggest bank with a strong foothold in the country's wealthiest...
  
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• Financial stocks lead an afternoon decline on Wall Street

  24-03-2016 18:33 via news.yahoo.com
  
  A slide in banks and other financial services companies led a decline for U.S. stocks in afternoon trading Thursday, pointing the market toward its first weekly loss in five weeks. Investors were poring over the latest batch of company earnings and economic news, including government data indicating that orders for long-lasting manufactured goods fell more than expected last month.
  
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• World stocks slide as oil slumps

  24-03-2016 18:22 via news.yahoo.com
  
  London (AFP) - Stock markets slid across the globe on Thursday following fresh weakness in the oil price, analysts said.
  
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• Wall Street dips as Wells Fargo leads fall in financials

  24-03-2016 18:10 via news.yahoo.com
  
  Wells Fargo's 2.2 percent drop was the biggest drag on the S&P 500. The dollar was on track for its best streak in almost a year as recent comments by U.S. Federal Reserve policymakers suggested their support for more than one increase in interest rates this year, with the first perhaps as early as April. St. Louis Fed President James Bullard, a voting member of the Federal Open Market Committee, became the latest official to take a hawkish stance after he said on Thursday that another hike
  
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• Ukraine's parliament speaker frontrunner to replace PM Yatseniuk

  24-03-2016 18:04 via news.yahoo.com
  
  By Pavel Polityuk and Natalia Zinets KIEV (Reuters) - Ukraine's parliamentary speaker emerged on Thursday as the frontrunner to replace the unpopular Prime Minister Arseny Yatseniuk, signalling a breakthrough in a political crisis that has lasted months. Current and former members of the ruling coalition met to discuss nominating Volodymyr Groysman, a 38-year-old former mayor and ally of President Petro Poroshenko, but stressed the appointment could only work if parties can agree on a new coalit
  
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• Versace posts double-digit rise in core profit for 2015

  24-03-2016 17:58 via news.yahoo.com
  
  MILAN (Reuters) - Italian fashion house Versace, which aims to list on the stock market next year, said core profit rose 20 percent last year, helped by strong growth in online sales, a weak euro curr...
  
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• Britain's FTSE knocked by Next and commodity shares

  24-03-2016 17:56
  
  * Mid-cap Renishaw falls after cutting forecast (ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see...
  
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• Wall St. dips as Wells Fargo leads fall in financials

  24-03-2016 17:55 via news.yahoo.com
  
  (Reuters) - Wall Street was lower on Thursday ahead of the long Easter weekend, as Wells Fargo led declines in financial stocks and gains in the dollar hurt commodities.
  
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• Court bars Tribune Co creditors from unwinding 2007 buyout

  24-03-2016 17:12
  
  WILMINGTON, Del, March 24 (Reuters) - A U.S. Appeals Court
  has ruled that creditors of the Tribune Co cannot claw back the
  $8 billion paid to the multimedia company's public shareholders
  nearly a...
  
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• U.S. manufacturing still weak; labor market flexes muscle

  24-03-2016 16:29 via news.yahoo.com
  
  New orders for long-lasting U.S. manufactured goods fell in February as the sector continued to struggle with the lingering effects of a robust dollar and lower oil prices. While other data on Thursday showed an increase in the number of Americans filing for unemployment benefits last week, revisions to the prior weeks' figures showed the labor market was much stronger than previously thought. The resilience of the labor market has helped calm fears the economy was heading into a recession, and
  
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• TiVo in talks to be bought by Rovi: NYT

  24-03-2016 16:20
  
  (Reuters) - Set-top box maker TiVo is in advanced talks to sell itself to digital entertainment guide provider Rovi Corp, the New York Times reported on Thursday, citing people briefed on the talks.
  
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• Average US rate on 30-year mortgage falls to 3.71 percent

  24-03-2016 15:58 via news.yahoo.com
  
  WASHINGTON (AP) — Average long-term U.S. mortgage rates declined this week after three straight weeks of increases. The decline could be a spur to prospective buyers as the spring home buying season gets started.
  
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• MIDEAST STOCKS-Egypt continues rises after cabinet reshuffle, Gulf slips

  24-03-2016 15:57 via news.yahoo.com
  
  * Egypt's Orascom group companies outperform again * Commercial International Bank drops on exec term limits * Gulf telecommunications firms drop on roaming fee cuts * Dubai's Shuaa Capital leaps in massive turnover * Aldar, Qatar Commercial Bank tumble as they go ex-dividend By Andrew Torchia DUBAI, March 24 (Reuters) - Egypt's stock market rose again on Thursday on hopes a new cabinet could give the economy a boost, while a pull-back by Brent oil below $40 a barrel and a cut in telecoms roamin
  
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• UPDATE 1-Banco Popolare, BPM say merger to create "a solid bank"

  24-03-2016 15:44
  
  * CEOs say new bank will be strong and solid (Adds further details, quotes after analysts' presentation, news conference)
  
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• UPDATE 2-Portola's long-acting blood thinner misses main study goal

  24-03-2016 15:33
  
  * Stock plummets 30 pct in early trading (Adds details, analyst comment)
  
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• Wall Street lower as dollar's run weighs on oil

  24-03-2016 15:23 via news.yahoo.com
  
  Wall Street was lower on Thursday morning, ahead of the long Easter weekend, as a stronger dollar weighed on crude oil. The dollar was on track for its best streak of gains in almost a year after comments by U.S. Federal Reserve policymakers suggested support for more than one increase in interest rates this year. St Louis Fed President James Bullard, a voting member of the Federal Open Market Committee, became the latest official to take a hawkish stance after he said on Thursday that another r
  
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• Wall St set to open lower as strong dollar weighs

  24-03-2016 15:22 via news.yahoo.com
  
  (Corrects to say Thursday, not Wednesday, in paragraph 8) By Abhiram Nandakumar (Reuters) - Wall Street was set to open lower on Thursday, ahead of the long Easter weekend, as a stronger dollar weighed on commodities. The dollar was on track for its best streak of gains in almost a year after comments by U.S. Federal Reserve policymakers suggested support for more than one increase in interest rates this year. St Louis Fed President James Bullard, a voting member of the Federal Open Market Commi
  
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• Fed's Bullard holds cards close on support for April rate hike

  24-03-2016 15:19 via news.yahoo.com
  
  A top Federal Reserve official said on Thursday he was undecided on whether to push for an interest rate rise at a policy meeting next month in part because the U.S. central bank will have seen little more economic data in the interim. "There's not a lot that will come" in terms of data before the U.S. central bank's April 26-27 policy meeting, St. Louis Fed President James Bullard told reporters in New York.
  
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• Wall Street opens lower as strong dollar weighs

  24-03-2016 14:45 via news.yahoo.com
  
  REUTERS - U.S. stock indexes were lower at the open on Thursday, ahead of the long Easter weekend, as a stronger dollar weighed on commodities. The Dow Jones industrial average fell 53.9 points, or 0.31 percent, to 17,448.69, the S&P 500 lost 7.56 points, or 0.37 percent, to 2,029.15 and the Nasdaq composite dropped 24.32 points, or 0.51 percent, to 4,744.54. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Anil D'Silva)
  
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• US durable goods orders tumble in February

  24-03-2016 14:34 via news.yahoo.com
  
  New orders for US durable goods fell in February, dragged down by a one month slump in sales of new aircraft, the Commerce department reported Thursday. Durable goods orders lost 2.8 percent last month to $229.3 billion, with a $3.8 billion decline in orders for new aircraft -- frequently a highly volatile component of the data -- the main reason. Other key sectors of the US industrial economy also showed weakness in the month: machinery orders fell 2.6 percent, and computers and electronic prod
  
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• Inflation finally headed up, though Fed's Bullard watchful

  24-03-2016 14:12 via news.yahoo.com
  
  NEW YORK (Reuters) - The U.S. economy is at last seeing inflation measures headed higher, though the "jury is out" as to whether one-time special factors boosted readings in the first couple months of the year, St. Louis Fed President James Bullard said on Thursday.
  
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• UPDATE 3-Next warning of toughest year since 2008 chills sector

  24-03-2016 14:07
  
  * Says 2016-17 profit could fall 4.5 pct in worst case scenario
  
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• British consumers defy weaker outlook for economy

  24-03-2016 14:05 via news.yahoo.com
  
  By David Milliken and Ana Nicolaci da Costa LONDON (Reuters) - British consumers are still driving the country's recovery despite a gloomier outlook for the economy and the approach of the European Union membership referendum, figures released on Thursday showed. Official data showed retail sales fell more gently than expected in February after a bumper January. A separate survey by the Confederation of British Industry showed sales volumes fell slightly in March but retailers were optimistic ab
  
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• U.S. durable goods orders fall; labor market tightening

  24-03-2016 14:04 via news.yahoo.com
  
  While other data on Thursday showed an increase in the number of Americans filing for unemployment benefits last week, revisions to the prior weeks' figures showed the labor market was much stronger than previously thought. The labor market resilience underscores the economy's strength, which has helped calm concerns of a looming recession. The Commerce Department said orders for durable goods, items ranging from toasters to aircraft meant to last three years or more, declined 2.8 percent last m
  
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• Shares in MTN down more than 10 percent, trades ex-dividend

  24-03-2016 13:47 via news.yahoo.com
  
  JOHANNESBURG (Reuters) - Shares in South Africa's MTN fell more than 10 percent on Thursday as the stock traded ex-dividend, or without the right to its latest dividend, and as economic worries about its largest market Nigeria continue. "Ex-dividend accounts for about 8.30 rand of the fall and the rest is still concerns about the Nigerian economy," said Cratos Capital equities trader Greg Davies. Shares in MTN were down 10.2 percent at 127.41 rand by 1218 GMT. (Reporting by TJ Strydom; Editing b
  
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• Another U.S. rate hike may be around corner: Fed's Bullard

  24-03-2016 13:16 via news.yahoo.com
  
  Another U.S. interest rate hike "may not be far off" after the Federal Reserve stood pat last week and made only minor downgrades to economic forecasts, St. Louis Fed President James Bullard said on Thursday. Bullard, who voted to support the March policy decision, noted in a speech that the labor market had improved since December.
  
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• Angola's census shows population rises to 26 million

  24-03-2016 13:07 via news.yahoo.com
  
  Angola's population has risen to nearly 26 million from earlier estimates of around 21 million, according to the results of a 2014 census released on Thursday. The capital Luanda has the highest number of residents at over 6.9 million, while the average age of the population is 20.6 years, the National Statistics Institute (INE) said in a report. The government says accurate population statistics will help it allocate funding for key sectors of the economy such as health, education, housing, soc
  
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• European stocks slide as oil slumps

  24-03-2016 12:33 via news.yahoo.com
  
  London (AFP) - European stock markets slid on Thursday following losses across Asia and on Wall Street caused by a fresh slump in oil prices, analysts said.
  
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• Futures fall as commodity prices weaken

  24-03-2016 12:30 via news.yahoo.com
  
  (Reuters) - Canadian stock futures pointed to a lower opening on Thursday as the dollar climbed for a fifth consecutive day, weakening commodities and global stocks. June futures on the S&P TSX index were down 0.61 percent at 7:15 a.m. ET. No major economic events are scheduled for the day. Canada's main stock index fell on Wednesday to a one-week low as lower commodity prices pressured energy and mining stocks, while insider trading charges sank the shares of Amaya Inc . Dow Jones Industria
  
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• Trump's investment funds lose money, billionaire unfazed

  24-03-2016 12:28 via news.yahoo.com
  
  By Lawrence Delevingne NEW YORK (Reuters) - Donald Trump's presidential campaign is built on his business acumen. Eighteen out of 21 hedge funds and mutual funds in Trump's portfolio lost money in 2015, and 17 of them are down so far this year, according to public disclosures and private performance data seen by Reuters. The funds managed by Paulson & Co, BlackRock Inc, Baron Capital and others lost an average of 8.5 percent last year, according to Reuters calculations, whereas stock market
  
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• Despite oil’s decline, energy companies win with equity offerings

  24-03-2016 12:11 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - More than a dozen companies in the hard-hit exploration and production energy industry have announced new share offerings this year – and have generally been rewarded in the stock market for the strategy. With widespread worries about energy companies collapsing under debt loads, analysts and investors said that shareholders could more easily stomach the dilution of their holdings if it means adding cash to strengthen balance sheets. “The compa
  
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• Banco Popolare, BPM say merger creates "a solid bank"

  24-03-2016 12:05
  
  MILAN, March 24 (Reuters) - Banco Popolare and Banca Popolare di Milano (BPM) outlined on Thursday their merger plan, which creates Italy's third biggest bank with a stronghold in the country's...
  
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• Kenyan shilling firm this year as deficit shrinks, transfers rise

  24-03-2016 11:09 via news.yahoo.com
  
  By Duncan Miriri NAIROBI (Reuters) - Kenya's shilling has held firm against the dollar this year, supported by a shrinking trade deficit, higher transfers from workers abroad and an economy that has escaped the beating taken by others in Africa from weak commodity prices. The shilling has been a sturdy performer among the main traded currencies on the continent in 2016, and weakened less than many others in 2015 as well. Kenya still attracts foreign investors who are increasingly wary of other A
  
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• Insight - Trump's investment funds lose money, billionaire unfazed

  24-03-2016 11:03 via news.yahoo.com
  
  By Lawrence Delevingne NEW YORK (Reuters) - Donald Trump's presidential campaign is built on his business acumen. But some of the Wall Street funds that he has invested in have proven l...
  
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• European shares suffer fresh commodities-related blow

  24-03-2016 10:38 via news.yahoo.com
  
  European equities slipped for a fourth straight session on Thursday, with weaker commodities prices and hawkish comments from another Fed official putting pressure on the broader stock market. St. Louis ...
  
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