Finance news

• U.S., Iran keep Iraqi PM in place as he challenges ruling elite

  05-04-2016 23:45 via news.yahoo.com
  
  By Stephen Kalin and Maher Chmaytelli BAGHDAD (Reuters) - The United States and Iran have formed an unlikely tacit alliance behind Iraq's prime minister as he challenges the ruling elite with plans for a non-political cabinet to fight corruption undermining the OPEC nation's economic and political stability. Local calls for Haider al-Abadi's removal -- including one by his predecessor as prime minister Nuri al-Maliki -- had been growing as he pursued a reshuffle aimed at addressing graft, which
  
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• Growth worries weigh on world stocks

  05-04-2016 23:32 via news.yahoo.com
  
  Global stock markets fell Tuesday as anxiety about slowing growth, weak German economic data and a potentially poor earnings season led to heavy selling.
  
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• China transition welcome but poses risks: Bank of Canada

  05-04-2016 22:56 via news.yahoo.com
  
  By Julie Gordon VANCOUVER (Reuters) - China's transition to a more sustainable pace of growth is welcome, but it will take time and could be marked by periods of economic and financial volatility, a top Bank of Canada official said on Tuesday. A shock emanating from China would likely have a relatively small impact on Canada's economy, said Senior Deputy Governor Carolyn Wilkins. While Canada would mainly be affected through lower commodity prices and trade, the country's banks have little direc
  
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• Dollar touches 17-month low vs. yen as stocks slump

  05-04-2016 22:38 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - The dollar fell on Tuesday to touch its weakest level against the yen since October 2014 and stock markets worldwide slumped as economic data out of Europe and the United States prompted a retreat from riskier assets. Bank of Japan Governor Haruhiko Kuroda, speaking to parliament on Tuesday, stressed his readiness to expand monetary policy, such as pushing interest rates further into negative territory. Wall Street followed declines across Europe and Asi
  
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• Pine River fixed income manager Steve Kuhn leaving hedge fund

  05-04-2016 22:16
  
  BOSTON (Reuters) - Steve Kuhn, one of the hedge fund industry's most widely known fixed income traders, is leaving Pine River Capital Management only months after the fund he co-managed for eight...
  
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• Mexican tycoon Slim in control of Spain's FCC before takeover

  05-04-2016 21:21
  
  MADRID (Reuters) - Mexican billionaire Carlos Slim already has majority control of Spanish building and infrastructure company FCCbefore a full takeover bid is formalized, Spain's stock market...
  
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• Apollo architect of Caesars deal quits bankrupt unit's board -documents

  05-04-2016 21:20
  
  April 5 (Reuters) - The co-founder of Apollo Global
  Management, Marc Rowan, resigned from the board of
  Caesars Entertainment Corp's operating unit after an
  investigation found that he had led a deal...
  
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• UPDATE 1-Germany's Merkel says Greece can't have debt haircut in euro zone

  05-04-2016 20:30
  
  BERLIN, April 5 (Reuters) - Chancellor Angela Merkel said on Tuesday that a debt haircut for Greece was not possible so long it remains in the euro zone, adding that Germany wanted a quick conclusion...
  
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• GLOBAL MARKETS-Dollar drops to 17-month low vs yen as stocks slump

  05-04-2016 20:26
  
  NEW YORK, April 5 (Reuters) - The dollar fell on Tuesday to its weakest level against the yen since October 2014 and stock markets worldwide slumped as economic data out of Europe and the United...
  
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• Last chance for 2015 tax deductions

  05-04-2016 20:22
  
  Los Angeles (Reuters) - If you are in the process of preparing your 2015 tax return and find yourself horrified by the amount you owe or disappointed by the paucity of your refund, you have one last...
  
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• Illinois marked 14th straight budget deficit in FY 2015 -audit

  05-04-2016 20:21
  
  CHICAGO, April 5 (Reuters) - Illinois' overall financial condition deteriorated in fiscal 2015 as tax collections fell, with the state recording its fourteenth straight budget deficit, according to...
  
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• BRIEF-Moody's says conclusion of Valeant's ad hoc committee a positive development

  05-04-2016 20:20
  
  * Conclusion of Valeant's ad hoc committee a positive development Source text: http://bit.ly/25JgazH Further company coverage: (Bengaluru newsroom)
  
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• Merkel says debt haircut for Greece not possible in euro zone

  05-04-2016 19:56
  
  BERLIN, April 5 (Reuters) - Chancellor Angela Merkel said on Tuesday that a debt haircut for Greece was not possible so long it remains in the euro zone, adding that Germany wanted a quick conclusion...
  
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• IMF's Lagarde "determined to continue to help" on Greece

  05-04-2016 19:56
  
  BERLIN, April 5 (Reuters) - The International Monetary Fund is "determined to continue to help" on Greece, IMF Managing Director Christine Lagarde said after meeting German Chancellor Angela Merkel...
  
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• Record-breaking levels of harvest-time hunger in South Sudan, says U.N

  05-04-2016 19:39 via news.yahoo.com
  By Katy Migiro NAIROBI (Thomson Reuters Foundation) - A record 5.8 million people in South Sudan or half its population do not know where their next meal will come from as conflict and poor rains have increased cereal prices by nearly five-fold in a year, the United Nations said on Tuesday. Hunger in South Sudan has worsened significantly over the last year to its highest harvest time level since systematic data collection began in 2010, the U.N.'s Food and Agriculture Organization and World Foo
  
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• ECB policy less favourable for Germany than other euro zone members - Schaeuble

  05-04-2016 19:34
  
  BASEL, April 5 (Reuters) - German Finance Minister Wolfgang Schaeuble on Tuesday criticised the European Central Bank's (ECB) policy for putting Germany at a disadvantage against other euro zone...
  
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• Fed awards $44.37 bln of reverse repos

  05-04-2016 19:25
  
  NEW YORK, April 5 (Reuters) - The Federal Reserve on Tuesday awarded $44.37 billion of one-day, fixed-rate reverse repurchase agreements to 30 bidders at an interest rate of 0.25 percent, the New...
  
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• Global growth is fragile and weak, says IMF's Lagarde

  05-04-2016 19:19
  
  BERLIN, April 5 (Reuters) - The global economy is recovering but growth is fragile and weak, and risks are increasing, International Monetary Fund Managing Director Christine Lagarde said on...
  
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• BRIEF-S&P upgrades Massachusetts Dept. of Transportation's 2010 Series A-2 bonds to 'AAA/A-1'

  05-04-2016 19:09
  
  * Massachusetts Department of Transportation's 2010 Series A-2 bonds upgraded to 'AAA/A-1'; 'AA+' SPUR assigned to bonds Source text - http://bit.ly/1SyiIXF
  
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• UPDATE 1-Obama urges Congress to take action on corporate tax reform

  05-04-2016 19:08
  
  WASHINGTON, April 5 (Reuters) - U.S. President Barack Obama on Tuesday urged Congress to take action to stop U.S. companies from taking advantage of tax loopholes that allow them to avoid paying...
  
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• British government met potential buyer for Tata Steel UK

  05-04-2016 19:05
  
  LONDON (Reuters) - The British government opened talks on Tuesday with potential buyers for Tata Steel's UK operations, including Sanjeev Gupta's commodities company Liberty Group, as it stepped up...
  
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• White House has no concerns about world economy after Panama papers

  05-04-2016 19:03 via news.yahoo.com
  WASHINGTON (Reuters) - The White House has not seen any concerns raised about the world economy as a result of the so-called Panama Papers revelations, spokesman Josh Earnest said on Tuesday.
  
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• Rising U.S. inflation would take a bite out of the dollar

  05-04-2016 18:57
  
  NEW YORK, April 5 (Reuters) - Currency market strategists are predicting greater weakness in the U.S. dollar over the next few months, as the Federal Reserve seems to have closed the door on interest...
  
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• WHITE HOUSE SAYS NEW TAX INVERSION RULES TARGET LOOPHOLES, NOT ANY INDIVIDUAL MERGER DEAL

  05-04-2016 18:53
  
  WHITE HOUSE SAYS NEW TAX INVERSION RULES TARGET LOOPHOLES, NOT ANY INDIVIDUAL MERGER DEAL
  
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• U.S. 1-month bill sold at lowest interest rate since Dec

  05-04-2016 18:48
  
  NEW YORK, April 5 (Reuters) - The U.S. Treasury Department on Tuesday sold $35 billion of one-month bills at an interest rate of 0.185 percent, the lowest at an auction since the last week of...
  
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• MOVES-LPC: Credit Suisse's head of par loan trading Zamore said to leave

  05-04-2016 18:44
  
  NEW YORK, April 5 (Reuters) - Barry Zamore, head of US par loan trading at Credit Suisse in New York, who championed the removal of assignment fees from the US$880bn loan market, has left the bank,...
  
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• Obama urges Congress to take action on corporate tax reform

  05-04-2016 18:43
  
  WASHINGTON, April 5 (Reuters) - U.S. President Barack Obama on Tuesday urged Congress to take action to stop U.S. companies from taking advantage of tax loopholes that allows them to avoid paying...
  
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• CORRECTED-Bank of Montreal says not seeing rise in consumer delinquencies after oil slump

  05-04-2016 18:34
  
  TORONTO, April 5 (Reuters) - Bank of Montreal's chief executive said the lender was not seeing increases in delinquencies in its consumer loan book following the slump in oil prices and forecast...
  
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• EMERGING MARKETS-Latam currencies fall sharply on global risk aversion

  05-04-2016 18:30
  
  By Bruno Federowski SAO PAULO, April 5 (Reuters) - Latin American currencies weakened sharply on Tuesday as concerns over global growth, lower commodity prices and prospects of higher U.S. rates...
  
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• UPDATE 1-Puerto Rico bondholders critical of government debt moratorium bill

  05-04-2016 18:28
  
  SAN JUAN, April 5 (Reuters) - Creditors holding Puerto Rican General Obligation bonds on Tuesday criticized efforts by the island's governor in support of local legislation to halt debt payments and...
  
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• S.African rand and stocks slide on growth fears, political risk

  05-04-2016 18:27 via news.yahoo.com
  
  South Africa's rand weakened on Tuesday and bonds softened as a wave of global risk aversion nudged emerging markets lower, with local economic and political uncertainties adding to pressure on the currency. Stocks declined as the weaker global oil price weighed on petrochemical firm Sasol and other resource shares. By 1550 GMT the rand traded 2 percent weaker at 15.1100 per dollar, extending earlier losses as a vote in parliament to remove President Jacob Zuma from office for breaching the cons
  
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• Brazil judge orders analysis of vice president impeachment

  05-04-2016 18:16
  
  SAO PAULO, April 5 (Reuters) - Brazil's Supreme Court justice Marco Aurelio Mello on Tuesday ordered the lower house of congress to install a special commission to analyze the impeachment of Vice...
  
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• How to literally grow your bottom line with gardening

  05-04-2016 18:13
  
  NEW YORK (Reuters) - (The writer is a Reuters contributor. The opinions expressed are his own.)
  
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• Oil and IMF blacken sentiment on equities markets

  05-04-2016 18:09 via news.yahoo.com
  
  Europe's main stock markets tumbled Tuesday as oil prices slumped and IMF chief Christine Lagarde offered a bleak outlook for the global economy, dealers said.
  
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• U.S. trade data points to weak first-quarter growth

  05-04-2016 18:06 via news.yahoo.com
  
  The U.S. trade deficit widened more than expected in February as a rebound in exports was offset by an increase in imports, the latest indication that economic growth weakened further in the first quarter. The Commerce Department said the trade deficit increased 2.6 percent to $47.1 billion in February, worse than economists' forecasts for a reading of $46.2 billion.
  
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• Japan's Abe says U.S. presence needed, vows to push trade deal - WSJ

  05-04-2016 18:04 via news.yahoo.com
  
  WASHINGTON (Reuters) - Japan's Prime Minister Shinzo Abe said he cannot envision not needing security backing from the United States, he told the Wall Street Journal in an interview published on Tuesday that also touched on trade and other issues. "I cannot conceive of any situation within the foreseeable future when the U.S. presence wouldn’t be necessary," he told the Journal in response to a question about whether U.S. troops should leave the Asian nation to defend itself, an idea that
  
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• Walgreens tops 2Q profit expectations, narrows 2016 forecast

  05-04-2016 17:49 via news.yahoo.com
  
  Walgreens beat Wall Street's fiscal second quarter expectations as total sales jumped, but the nation's biggest drugstore chain remained conservative with its outlook while it deals with several pressures on its business.
  
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• Wall Street down as rate-hike outlook remains hazy

  05-04-2016 17:32 via news.yahoo.com
  
  International Monetary Fund Managing Director Christine Lagarde warned on Tuesday of increasing risks to global economic growth, unless there were stronger measures by policymakers. Lagarde's comments come a week after Fed Chair Janet Yellen urged caution on rate hikes, citing a shaky global economy and low oil prices. While the Fed has projected two hikes in 2016, traders are pricing in only one, with an even chance that the central bank may pull the trigger in June, according to the CME Group'
  
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• Obama to deliver statement on economy Tuesday, after inversions move

  05-04-2016 17:27 via news.yahoo.com
  WASHINGTON (Reuters) - President Barack Obama will deliver a statement at 12:15 ET on Tuesday on the economy following Monday's Treasury Department announcement on corporate tax inversions, the White House said. The U.S. Treasury Department took new steps to curb tax-avoiding corporate "inversions" late on Monday that threw a series of proposed mergers into question, including Pfizer Inc's $160 billion agreement to buy Allergan Plc. (Reporting by Timothy Gardner and Lindsay Dunsmuir)
  
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• IMF sees Rwanda's economy slowing in 2016

  05-04-2016 17:23 via news.yahoo.com
  
  By Clement Uwiringiyimana KIGALI (Reuters) - The International Monetary Fund said on Tuesday it expects Rwanda's economy to slow this year and pick up in 2018, forecasting around 6 percent growth this year compared with 6.9 percent last year. It said Rwanda had agreed to pursue a more cautious monetary policy and put off some public spending to help slow the demand for imports. "The (IMF) mission expects that successful implementation of these policies will maintain economic growth at around 6 p
  
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• Bankruptcy filings more than double in Brazil as recession deepens

  05-04-2016 17:03
  
  BRASILIA, April 5 (Reuters) - Bankruptcy protection requests
  in Brazil more than doubled in the first quarter from the
  year-earlier period, as businesses suffered from the highest
  borrowing costs in...
  
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• REFILE-UPDATE 1-U.S. Treasury rules put Pfizer-Allergan deal in question

  05-04-2016 17:00
  
  NEW YORK, April 5 (Reuters) - The U.S. Treasury Department's proposed new tax regulations threw a series of proposed mergers into question, including Pfizer Inc's $160 billion agreement to buy...
  
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• Trump plan would force Mexico to pay for wall by blocking remittances

  05-04-2016 16:37 via news.yahoo.com
  
  Republican presidential candidate Donald Trump said he would try to force Mexico to pay for his proposed wall along the U.S. border by blocking remittances from immigrants in the United States, a move that could deal a devastating blow to the Mexican economy. In a two-page memo made public on Tuesday, Trump's campaign said that if elected to the White House in November, he would use a U.S. anti-terrorism law to cut off money transfers to Mexico unless it made a one-time payment of $5 billion to
  
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• U.S. House Transportation chief opposes CP, Norfolk rail merger

  05-04-2016 16:34
  
  WASHINGTON (Reuters) - The Republican chairman of the U.S. House Transportation and Infrastructure Committee announced his opposition on Tuesday to a proposed railroad merger between Canadian Pacific...
  
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• BRIEF-Steilmann says group negotiations on bridge financing are advanced

  05-04-2016 16:33
  
  * Bridge financing would make it possible to continue
  operative businesses until further notice
  
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• BRIEF-Steilmann announces insolvency of corporate group companies

  05-04-2016 16:26
  
  * APANAGE Fashion Group GmbH as well as Klaus Steilmann GmbH
  & Co. Kommanditgesellschaft will immediately file for insolvency
  on grounds of illiquidity with respective local courts...
  
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• AccorHotels joins luxury home rentals market with onefinestay

  05-04-2016 16:18
  
  PARIS (Reuters) - AccorHotels , Europe's largest hotel group, has bought British serviced home rental company onefinestay to strengthen its response to Airbnb and further expand its luxury portfolio.
  
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• Canada trade deficit jumps, exports drop after good start to 2016

  05-04-2016 16:17 via news.yahoo.com
  
  By David Ljunggren OTTAWA (Reuters) - Canada's trade deficit unexpectedly jumped in February as exports dropped by the most in almost seven years, reflecting the volatility still hampering an economy hit by low oil prices. Statistics Canada said on Tuesday the deficit hit C$1.91 billion ($1.45 billion), up from a C$628 million shortfall in January. The news disappointed analysts who had been encouraged by strong exports in December and January and healthy growth in January.
  
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• Prospect of unstable minority rule a risk for Irish recovery

  05-04-2016 16:08 via news.yahoo.com
  By Padraic Halpin DUBLIN (Reuters) - Five weeks of largely ineffective attempts to form a government in Ireland has left a weak minority administration as the only option to avoid a fresh election, an unstable compromise that could paralyze policy and stoke labor discontent. Ireland became one of several euro zone countries left with deeply fractured parliaments as voters angry at not benefiting from an economic recovery ousted Prime Minister Enda Kenny's coalition on Feb. 26 without opting for
  
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• Weaker commodities stocks push FTSE to 3-week lows

  05-04-2016 15:50
  
  LONDON, April 5 (Reuters) - Britain's top share index slipped to its lowest level in more than three weeks on Tuesday, with commodities-related stocks coming under pressure following a decline in...
  
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