Finance news

• GE to sell $1.4 billion U.S. hotel franchise loan portfolio

  29-03-2016 23:53
  
  (Reuters) - General Electric Cosaid it had agreed to sell GE Capital's U.S. hotel franchise loan portfolio to a unit of Western Alliance Bancorp .
  
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• Music streaming company Spotify raises $1 billion in convertible debt

  29-03-2016 23:49 via news.yahoo.com
  
  (Reuters) - Spotify has raised $1 billion (695 million pounds) in convertible debt from private equity firm TPG Capital and hedge fund Dragoneer Investment Group, a spokeswoman for the music streaming service said. The Wall Street Journal first reported the deal on Tuesday. The deal is expected to close at the end of this week, Spotify spokeswoman Marni Greenberg confirmed to Reuters. Spotify is facing increasing competition from companies including Apple Inc's Apple Music, Pandora Media Inc as
  
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• Dollar slides after Yellen speech; S&P at 2016 high

  29-03-2016 23:14 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - The U.S. dollar dropped sharply and stocks on Wall Street ended at 2016 highs after Federal Reserve Chair Janet Yellen said the Fed should proceed "cautiously" in deciding when to raise interest rates. "Given the risks to the outlook, I consider it appropriate for the Committee to proceed cautiously in adjusting policy," Yellen said in remarks to the Economic Club of New York. Yellen's comments, her first since the Fed held rates steady two weeks ago, appea
  
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• SunEdison at risk of bankruptcy, unit says; shares plummet 60 percent

  29-03-2016 23:08 via news.yahoo.com
  
  SunEdison declined to comment. SunEdison's shares - already reeling from a Wall Street Journal report on Monday that the company was being investigated for overstating its cash position - fell as much as 60 percent to a record low of 50 cents. TerraForm Global Inc , one of two SunEdison "yieldcos", said in a regulatory filing that it would join its parent and fellow yieldco TerraForm Power Inc in delaying its annual report for the year ended Dec. 31.
  
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• Apple shares are one reason hedge funds lag mutual funds in 2016

  29-03-2016 22:55
  
  NEW YORK (Reuters) - Hedge funds may have taken too big a bite of Apple Inc .
  
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• TSX climbs as gold stocks rally on cautious Yellen

  29-03-2016 22:49 via news.yahoo.com
  
  By Fergal Smith TORONTO (Reuters) - Canada's main stock index rose on Tuesday, reversing earlier losses as dovish comments from Federal Reserve Chair Janet Yellen helped support gold mining stocks. Yellen said the U.S. central bank should proceed "cautiously" as it looks to raise interest rates, because inflation has not yet proven durable against the backdrop of looming global risks to the U.S economy. ...
  
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• Cautious Yellen pushes back on Fed officials eyeing hike

  29-03-2016 22:48 via news.yahoo.com
  
  Federal Reserve Chair Janet Yellen said on Tuesday the U.S. central bank should proceed only cautiously as it looks to raise interest rates, pushing back on a handful of her colleagues who have suggested another move may be just around the corner. In her first comments since the Fed decided to hold rates steady two weeks ago, Yellen said inflation has not yet proven durable against the backdrop of looming global risks to the U.S economy, including still-low oil prices and concerns over China. Th
  
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• Wall Street hits 2016 high after Yellen delivers

  29-03-2016 22:34 via news.yahoo.com
  
  In her first comments since the Fed held steady on rates earlier this month, Yellen said global risks remained, including uncertainty over China and low oil prices. After its worst January since 2009, the S&P 500 has fully recovered and is now up 0.55 percent for 2016, although investors remain concerned about a slow global economy, a strong dollar, volatile oil prices and lackluster top-line growth at U.S. companies. Yellen's cautious tone contrasted with recent comments from other policyma
  
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• Traders see late 2016 U.S. rate hike after Yellen

  29-03-2016 22:22 via news.yahoo.com
  
  U.S. federal funds futures rose on Tuesday, implying traders now expect the Federal Reserve will not raise interest rates until late 2016 following Fed Chair Janet Yellen's remarks that the U.S. central bank would proceed "cautiously" with rate increases. "Given the risks to the outlook, I consider it appropriate for the Committee to proceed cautiously in adjusting policy," Yellen said on Tuesday in prepared remarks to the Economic Club of New York.
  
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• Higher taxes in Obama's budget would cut deficits: CBO

  29-03-2016 22:19 via news.yahoo.com
  
  By David Lawder WASHINGTON (Reuters) - U.S. President Barack Obama's fiscal 2017 budget would produce $6.9 trillion in deficits over the next decade if enacted, about $2.4 trillion less than under current tax and spending laws, congressional forecasters said on Tuesday. The Congressional Budget Office said in a new analysis, however, that its 10-year deficit estimate is $776 billion higher than the administration's own forecast. This is largely the result of lower revenues resulting from the CBO
  
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• Yellen stresses that Fed foresees gradual pace of rate hikes

  29-03-2016 21:40 via news.yahoo.com
  
  NEW YORK (AP) — Federal Reserve Chair Janet Yellen said Tuesday that the Fed still envisions only a gradual pace of interest rate increases in light of global pressures that could affect the U.S. economy.
  
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• China's Anbang raises offer for Starwood to $14 billion

  29-03-2016 21:23
  
  (Reuters) - China's Anbang Insurance Group Co raised its offer for Starwood Hotels & Resorts Worldwide Incto almost $14 billion, Starwood said on Monday, in the latest challenge to the U.S. hotel...
  
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• Yellen confident in US growth but stresses 'gradual' rate hikes

  29-03-2016 21:02 via news.yahoo.com
  
  Federal Reserve Chair Janet Yellen expressed confidence in US economic growth Tuesday but stuck to a dovish stance on monetary policy, saying the Fed still had to keep its eye on international economic and financial frailty. With markets on edge over when the Fed will next raise interest rates, which would increase the cost of money for borrowers worldwide, Yellen signaled clearly that was not likely to come before June and that, when the US central bank does tighten policy, it will be slow and
  
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• Wall Street rises as Yellen strikes cautious note on rates

  29-03-2016 20:45 via news.yahoo.com
  
  U.S. stocks swung into positive territory on Tuesday after Federal Reserve Chair Janet Yellen said the central bank should proceed "cautiously" on raising interest rates. In her first comments since the Fed held steady on rates earlier this month, Yellen said global risks remained, including uncertainty over China and low oil prices. Yellen's cautious tone contrasted with recent comments from several policymakers, including the chiefs of the Philadelphia and Atlanta Federal Reserves, who had exp
  
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• Deere acquires stake in U.S. leader in high-clearance sprayers

  29-03-2016 20:29
  
  (Reuters) - Deere & Cosaid on Tuesday it has acquired a majority stake in Hagie Manufacturing, allowing the farm and construction machinery manufacturer to enter the high-clearance sprayer market.
  
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• Fed held rates to get out ahead of global risks: Yellen

  29-03-2016 20:07 via news.yahoo.com
  
  The Federal Reserve wanted to pro-actively respond to a weakening of global economic growth forecasts since December, a concern that played a role in the U.S. central bank leaving interest rates unchanged earlier this month, Fed Chair Janet Yellen said on Tuesday. "That may look like a shift in the reaction function, but it really isn't," she told the Economic Club of New York.
  
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• U.S. tax filers can still get professional help

  29-03-2016 20:05
  
  NEW YORK (Reuters) - The phone started ringing early on Monday morning at tax preparer Alan Pinck's office in San Jose, California, with panicked callers begging for appointments.
  
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• Dollar slides after Yellen speech; stocks rise

  29-03-2016 19:41 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - The U.S. dollar dropped sharply and stocks on Wall Street moved higher after Federal Reserve Chair Janet Yellen said the Fed should proceed "cautiously" when it raises interest rates. Crude oil prices cut losses but later succumbed to oversupply pressure. "Given the risks to the outlook, I consider it appropriate for the Committee to proceed cautiously in adjusting policy," Yellen said in remarks to the Economic Club of New York. ...
  
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• U.S. preterm births tied to air pollution cost $4 billion a year

  29-03-2016 19:24 via news.yahoo.com
  
  By Lisa Rapaport (Reuters Health) - U.S. premature births linked to air pollution cost more than $4 billion a year in medical care and lost economic opportunity, a new analysis estimates. Almost 16,000 babies arrive early each year due at least in part to air pollution, according to researchers who analyzed air quality data and birth records. “Air pollution-associated preterm birth contributes direct medical costs in the first few years of life due to associated conditions, such as in the
  
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• Protests in Prague as China's Xi signs economic partnership

  29-03-2016 19:17 via news.yahoo.com
  
  Chinese President Xi Jinping signed a landmark strategic partnership with his Czech counterpart in Prague on Tuesday amid a fresh wave of protests in the Czech capital against Beijing's policies on Tibet. The first visit by a Chinese head of state to the Czech Republic has been overshadowed by protests by rights groups and opposition politicians critical of China's policy in Tibet. Czech President Milos Zeman, who has billed the visit as a chance to boost trade with the world's second-biggest ec
  
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• Fed should proceed 'cautiously' given global risks, Yellen says

  29-03-2016 19:11 via news.yahoo.com
  
  By Jonathan Spicer and Jennifer Ablan NEW YORK (Reuters) - Federal Reserve Chair Janet Yellen said on Tuesday the U.S. central bank should proceed "cautiously" as it looks to raise interest rates again, because inflation has not yet proven durable against the backdrop of looming global risks to the U.S economy. In her first comments since the Fed decided to hold rates steady two weeks ago, Yellen again sounded cautious tones about threats to the recovery of the world's biggest economy, appearing
  
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• New high-yield bond ETF will exclude energy companies

  29-03-2016 18:20
  
  NEW YORK, March 29 (Reuters) - BlackRock Inc is planning to unveil a new U.S.-listed exchange-traded fund that will invest in all areas of the junk-bond market except the tattered energy sector, the...
  
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• Bidding at U.S. 1-year bill sale lowest since 2009

  29-03-2016 18:13
  
  NEW YORK, March 29 (Reuters) - The U.S. Treasury Department said on Tuesday it sold $20 billion of one-year bills to the weakest overall demand since December 2009, Treasury data showed.
  
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• Wednesday preview: Carnival report first quarter earnings

  29-03-2016 18:11 via news.yahoo.com
  
  (ShareCast News) - Cruise operator Carnival is expected to report an increase in first quarter earnings on Wednesday as bookings rise.
  
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• MOVES-UBS hires asset management banker Hershberger from Credit Suisse

  29-03-2016 18:10
  
  March 29 (Reuters) - UBS Group AG has named Joseph Hershberger a vice chairman in its financial institutions group, where he will focus on global asset management efforts, according to a memo seen by...
  
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• BRIEF-FEI and units enter into $200 mln credit agreement

  29-03-2016 18:09
  
  * Credit agreement provides for a $200 million unsecured revolving credit facility
  
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• FTSE knocked by falling commodity shares

  29-03-2016 17:58 via news.yahoo.com
  
  By Alistair Smout and Kit Rees LONDON (Reuters) - UK shares underperformed Europe stocks on Tuesday, giving up early gains after a drop in commodity-related items intensified and banks turned lower following the Bank of England's latest financial stability report. The blue-chip FTSE 100 index was down 0.58 points, flat in percentage terms, at 6,105.90 points by the close, lagging blue-chip euro zone stock market indexes. Metal prices fell after the dollar strengthened ahead of a speech by Federa
  
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• UPDATE 5-SunEdison at risk of bankruptcy, unit says; shares plummet 60 pct

  29-03-2016 17:55
  
  * Bankruptcy would be among biggest in 10 yrs by non-financial co
  
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• EMERGING MARKETS-Latam currencies weaken ahead of Fed's Yellen speech

  29-03-2016 17:54
  
  By Bruno Federowski SAO PAULO, March 29 (Reuters) - Latin American currencies weakened on Tuesday on lower commodity prices as investors awaited Federal Reserve Chair Janet Yellen's speech later in...
  
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• MTN South Sudan lays off staff as economic crisis bites

  29-03-2016 17:53 via news.yahoo.com
  
  MTN South Sudan, one of the country's biggest telecoms operators, is cutting dozens of jobs and cancelling expansion projects such as the construction of new cellular sites due to an economic crisis, it said on Tuesday. The world's newest nation plunged into civil war in late 2013 when a political crisis provoked fighting between forces loyal to President Salva Kiir and rebels allied with his former deputy, Riek Machar. The firm, a unit of South Africa's MTN, is the latest among foreign firms to
  
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• SunEdison at risk of bankruptcy, unit says; Shares plummet

  29-03-2016 17:44 via news.yahoo.com
  
  SunEdison's shares - already reeling from a Wall Street Journal report on Monday that the company was being investigated for overstating its cash position - fell as much as 45 percent to a record low of 69 cents. TerraForm Global Inc , one of two SunEdison "yieldcos", said it would join its parent and fellow yieldco TerraForm Power Inc in delaying its annual report for the year ended Dec. 31. TerraForm Global's annual report was due by March 30.
  
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• GLOBAL MARKETS-Stocks, dollar drift ahead of Yellen speech; oil drops

  29-03-2016 17:38
  
  * Investors look to Fed chief Yellen for rate clues (Updates with U.S. markets, adds comment; changes dateline, previous LONDON)
  
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• BRIEF-Moody's says Court rejection of Chicago pension reform credit negative for city

  29-03-2016 17:30
  
  * Il Supreme Court rejection of Chicago pension reform is credit negative for city
  
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• TREASURIES-U.S. bond prices rise ahead of Yellen, 5-year sale

  29-03-2016 17:21
  
  * Traders await Fed Chair Yellen's view on U.S. rate hikes * U.S. to sell $34 bln 5-year notes after mediocre 2-year sale * U.S. home price data fall short but consumer confidence upbeat By Richard...
  
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• UPDATE 1-Brazil lending falls as defaults stay at five-year high

  29-03-2016 17:14
  
  BRASILIA/SAO PAULO, March 29 (Reuters) - Commercial banks in Brazil pared back lending in February for a second straight month, a report showed on Tuesday, as private-sector lenders kept slowing...
  
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• Wall Street flat ahead of Yellen speech

  29-03-2016 17:11 via news.yahoo.com
  
  A decline in oil prices kept the S&P 500 and the Dow slightly in the red on Tuesday, ahead of Federal Reserve Chair Janet Yellen's speech on monetary policy. Yellen, who is due to speak before the Economic Club of New York at 12:20 p.m. ET (1620 GMT), will make her first remarks since the Fed's meeting in March. Investors will keep a close eye on Yellen's speech as they look for fresh drivers that could push stocks higher.
  
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• US consumer confidence brightens in March

  29-03-2016 17:02 via news.yahoo.com
  
  US consumer confidence improved in March, bouncing back from a February slump as Americans showed higher hopes for the economy in the coming months, The Conference Board said Tuesday. The boards' consumer confidence index rose to 96.2 from 94.0 in February, led entirely by a gain in expectations for the situation six months ahead, while the assessment of the present situation declined moderately.
  
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• UPDATE 4-SunEdison at risk of bankruptcy, unit says; Shares plummet

  29-03-2016 16:59
  
  * SunEdison, TerraForm Power have already delayed annual reports
  
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• A rebounding stock market helps lift US consumer confidence

  29-03-2016 16:56 via news.yahoo.com
  
  WASHINGTON (AP) — U.S. consumers are feeling more confident in March, with a rebounding stock market brightening their outlook.
  
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• BRIEF-Evans Bancorp files for mixed shelf of up to $50 mln

  29-03-2016 16:49
  
  * Files for mixed shelf of up to $50 million - sec filing Source text : http://1.usa.gov/1UzCcS1 Further company coverage: (Bengaluru Newsroom; +1 646 223 8780)
  
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• Court again dismisses creditors' case from Tribune Co bankruptcy

  29-03-2016 16:42
  
  March 29 (Reuters) - A U.S. appeals court dismissed a closely watched creditor lawsuit on Tuesday that stemmed from the 2008 bankruptcy of Tribune Co, a day after it took the unusual step of...
  
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• BRIEF-Torchmark commenced public offering of junior subordinated debentures due 2056

  29-03-2016 16:38
  
  * Commenced a public offering of its junior subordinated debentures due 2056
  
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• Investors pare bullish bets on longer-term U.S. Treasuries -JPM

  29-03-2016 16:33
  
  NEW YORK, March 29 (Reuters) - Investors dialed back their holdings of longer-dated U.S. Treasuries in the latest week even as benchmark yields have fallen on signs of slowing U.S. economic expansion...
  
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• Chile's central bank chief says investor grade rating not in danger

  29-03-2016 16:27
  
  SANTIAGO, March 29 (Reuters) - Chile has the macroeconomic conditions needed to keep its coveted investor grade rating despite its current economic woes, but it has to make sure public debt does not...
  
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• MIDEAST STOCKS-Saudi falls after weak data, most bourses rise

  29-03-2016 16:19 via news.yahoo.com
  
  * Saudi index closes below mid-March low * First annual money supply drop for over a decade * Middle East Healthcare jumps on listing * Dubai Parks rebounds after plunge on rights issue * Orascom Telecom helps Egypt rise By Andrew Torchia DUBAI, March 29 (Reuters) - Saudi Arabia's stock market fell sharply on Tuesday as petrochemical stocks sagged and the central bank reported weak economic data, but most major markets in the region gained. The Saudi index fell 1. ...
  
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• World stocks muted before Yellen speech

  29-03-2016 16:13 via news.yahoo.com
  
  Hong Kong (AFP) - Most major stock markets were slightly lower on Tuesday as trading resumed after the Easter holiday weekend, with attention turning to a speech by US Federal Reserve chief Janet Yellen.
  
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• TREASURIES-U.S. bond prices trim gains after consumer confidence data

  29-03-2016 16:12
  
  NEW YORK, March 29 (Reuters) - U.S. Treasury prices pared gains slightly on Tuesday as stronger-than-forecast data on U.S. consumer confidence in March soothed some worries about flagging consumer...
  
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• Japan's Abe says no plans to postpone consumption tax hike

  29-03-2016 16:03 via news.yahoo.com
  
  TOKYO (AP) — Prime Minister Shinzo Abe said Tuesday he still plans to raise the consumption tax next year, denying speculation the planned increase would be postponed out of concern that Japan's economy won't be able to handle it.
  
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• Energy shares drag Wall St. down, Yellen speech awaited

  29-03-2016 15:55 via news.yahoo.com
  
  Yellen, who is due to speak before the Economic Club of New York at 12:20 p.m. ET (1620 GMT), will make her first remarks since the Fed's meeting in March. Investors will keep a close eye on Yellen's speech as they look for fresh drivers that could push stocks higher. "We are seeing a little bit of a pause here," said Adam Sarhan, chief executive of Sarhan Capital in New York.
  
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• CANADA FX DEBT-C$ strengthens despite drop in oil prices

  29-03-2016 15:55
  
  * Canadian dollar at C$1.3172, or 75.92 U.S. cents * Bond prices higher across the maturity curve TORONTO, March 29 (Reuters) - The Canadian dollar strengthened to a six-day high against its U.S....
  
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