Finance news

• Wall Street ends higher but indexes post weekly losses

  08-04-2016 23:55 via news.yahoo.com
  
  A sharp rally in crude oil and energy shares lifted U.S. stocks on Friday, but indexes registered losses for the week. U.S. crude oil settled more than 6 percent higher after data showed lower U.S. stockpiles, driving gains of 2 percent in the S&P energy index . Investor focus should shift next week from oil and the Fed to quarterly reports, said Peter Kenny, senior market strategist at Global Markets Advisory Group, in Berkeley Heights, New Jersey.
  
  Read more

• Global stocks gain on oil boost; dollar fades vs yen

  08-04-2016 23:47 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - Global equity markets advanced on Friday, buoyed by a jump in oil prices, but were lower for the week as the dollar gave up early gains against the yen. Stocks on Wall Street and in Europe were lifted by energy names, with Brent and U.S. crude oil jumping more than 6 percent as drawdowns in U.S. crude stocks fed hopes a punishing global glut that has persisted for nearly two years may be nearing a tipping point. Global benchmark Brent crude futures jumpe
  
  Read more

• Water deals top U.S. municipal bond sales next week

  08-04-2016 23:31
  
  April 8 (Reuters) - The two biggest negotiated deals on next week's $6.7 billion U.S. municipal bond and note calendar will fund water infrastructure projects in Massachusetts and California.
  
  Read more

• BRIEF-Hemisphere Media files for mixed shelf of up to $250 mln

  08-04-2016 23:31
  
  * Files for mixed shelf of up to $250 million - sec filing Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)
  
  Read more

• Advertisement

• CANADA FX DEBT-C$ strengthens to one-week high on jobs data, oil

  08-04-2016 23:25
  
  (New throughout, updates prices and market activity, adds portfolio manager comments) * Canadian dollar at C$1.3002, or 76.91 U.S. cents * Loonie hit strongest since March 31 at C$1.2952 * Bond...
  
  Read more

• U.S. small cap funds shine in first quarter but may have harder road ahead

  08-04-2016 23:22
  
  NEW YORK (Reuters) - The steep decline and subsequent rebound in the U.S. stock market over the first three months of the year were a boon to U.S. small cap managers, who took advantage of what some...
  
  Read more

• BRIEF-Moody's downgrades Royal Dutch Shell to Aa2 negative outlook

  08-04-2016 23:05
  
  * Moody's downgrades royal dutch shell to aa2; negative outlook
  
  Read more

• BRIEF-Arthur J. Gallagher & Co announces new credit facility

  08-04-2016 23:04
  
  * Arthur j. Gallagher & co. Announces new credit facility and planned private placement debt transaction
  
  Read more

• Advertisement

• Wells Fargo reaches $1.2 bln U.S. mortgage settlement

  08-04-2016 23:02
  
  April 8 (Reuters) - Wells Fargo & Co has formally reached a $1.2 billion settlement to end a U.S. Department of Justice lawsuit accusing it of knowingly deceiving the federal government into insuring...
  
  Read more

• Rural U.S. states have biggest gender pay gaps, report shows

  08-04-2016 23:02 via news.yahoo.com
  By Sebastien Malo NEW YORK (Thomson Reuters Foundation) - The gender pay gap in the United States is widest in rural states and smallest in urban areas, a Congressional report said on Friday. Women doing the same work as men in the rural states of Louisiana, Utah, Wyoming and West Virginia earn roughly a third less money, according to the Joint Economic Committee of Congress. Nationwide, women earn 79 cents for every dollar earned by men, according to U.S. Census data.
  
  Read more

• Solar power firms seek delay to Brazil farms start up

  08-04-2016 22:50
  
  SAO PAULO, April 8 (Reuters) - Six solar power companies, including Canadian Solar Inc and Renova Energia SA , have asked the Brazilian government to delay start-up dates for dozens of new solar...
  
  Read more

• Stocks gain on oil boost; dollar fades vs yen

  08-04-2016 22:35 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - Global equity markets advanced on Friday, buoyed by a jump in oil prices, but were lower for the week as the dollar gave up early gains against the yen. Stocks on Wall Street and in Europe were lifted by energy names, with Brent and U.S. crude oil jumping more than 6 percent as drawdowns in U.S. crude stocks fed hopes a punishing global glut that has persisted for nearly two years may be nearing a tipping point. Global benchmark Brent crude futures jumpe
  
  Read more

• GLOBAL MARKETS-Stocks gain on oil boost; dollar fades vs yen

  08-04-2016 22:33
  
  * Oil climb lifts stocks in U.S., Europe (Updates with U.S. market close, oil settlement prices)
  
  Read more

• MOVES-LPC: Och-Ziff's portfolio manager Young said to leave

  08-04-2016 22:32
  
  NEW YORK, April 8 (Reuters) - Don Young, a senior portfolio manager at Och-Ziff Capital Management Group, has left the firm, sources said.
  
  Read more

• BRIEF-Blackstone Mortgage Trust says credit agreement provides $125 mln under certain loan facility

  08-04-2016 22:20
  
  * Blackstone Mortgage Trust says credit agreement provides for a senior secured revolving loan facility in an aggregate principal amount of $125.0 million
  
  Read more

• UPDATE 1-New Jersey's Christie loses bid to freeze Atlantic City spending

  08-04-2016 22:12
  
  ATLANTIC CITY, April 8 (Reuters) - A New Jersey judge on Friday rejected a bid by Governor Chris Christie's administration to freeze spending by cash-strapped Atlantic City, which the governor argued...
  
  Read more

• U.S. judge orders deposition of Bernard Madoff

  08-04-2016 22:09
  
  April 8 (Reuters) - Bernard Madoff must submit to a deposition by lawyers for some former customers who lost money when the imprisoned swindler's firm collapsed in December 2008, a judge ordered on...
  
  Read more

• TREASURIES-U.S. yields rise on oil gains, 30-year yield falls for 4th straight week

  08-04-2016 22:04
  
  * Japan intervention talk cuts volatility, drives markets (Updates data, adds quote, adds weekly focus)
  
  Read more

• Speculators slash U.S. dollar net longs to smallest since late March 2014-CFTC, Reuters

  08-04-2016 21:55
  
  April 8 (Reuters) - Speculators further chopped bullish bets on the U.S. dollar for a fifth straight week, pushing net longs to their lowest in more than two years, according to Reuters calculations...
  
  Read more

• Spec net shorts in U.S. 10-year T-notes largest since November - CFTC

  08-04-2016 21:53
  
  April 8 (Reuters) - Speculators' net bearish bets on U.S. 10-year Treasury futures jumped to their highest levels in five months in the latest week as benchmark yields fell on global growth worries,...
  
  Read more

• Cash-rich Brazil funds to lag behind benchmark as turmoil bites

  08-04-2016 21:53
  
  SAO PAULO (Reuters) - Equity funds in Brazil are expected to post returns below the benchmark Bovespa stock index's performance in coming months, partly as their preference for maintaining high cash...
  
  Read more

• BAHAMA BRIEFS-Rundown from IDB Annual Meeting 2016

  08-04-2016 21:49
  
  NASSAU, April 8 (IFR) - While tourists clad in flip flops and T-shirts enjoyed the sun and crystal blue waters of the Caribbean, bankers dressed in suits and ties attended to more serious business...
  
  Read more

• Facing Democratic Fury, Sanders Walks Back His Attack on Clinton

  08-04-2016 21:32 via news.yahoo.com
  
  Sen. Bernie Sanders of Vermont backed down on Friday from his controversial assertion that rival Hillary Clinton isn’t qualified to be president following a huge backlash from Democrats complaining that Sanders was hurting their party’s chances for victory in November. Fuming after days of perceived slights from Clinton that he might not be prepared to be president and needs to do his “homework” -- even on his signature issue of breaking up the big banks -- Sanders earlie
  
  Read more

• Justice Department urges rejection of CP, Norfolk Southern voting trust

  08-04-2016 21:26
  
  CHICAGO/WASHINGTON (Reuters) - The U.S. Justice Department on Friday urged a regulator to reject a voting trust Canadian Pacific Railway Ltd has proposed as part of its takeover bid for Norfolk...
  
  Read more

• Women's clothing retailer J.Jill taps banks for IPO: source

  08-04-2016 21:16
  
  (Reuters) - Women's apparel and footwear retailer J.Jill Group has tapped Bank of America , Morgan Stanleyand Jefferies Group LLC as underwriters for a possible initial public offering, a source...
  
  Read more

• Hollande urges Panama to respond to tax enquiries

  08-04-2016 21:11 via news.yahoo.com
  French President Francois Hollande urged Panama's President Juan Carlos Varela on Friday to help French tax authorities with their enquiries following the Panama Papers leaks, his press office said. Hollande confirmed that France had asked for a meeting of experts from the Organisation for Economic Cooperation and Development (OECD) next week to work on "a coordinated action by tax administrations" following the revelations. The French government put Panama back on its blacklist of uncooperative
  
  Read more

• BRIEF-S&P - Quiksilver Inc corporate credit rating raised to 'B-' from 'D' on emergence from bankruptcy; Outlook negative

  08-04-2016 21:09
  
  * S&P - Quiksilver Inc corporate credit rating raised to
  'B-' from 'D' on emergence from bankruptcy; Outlook negative
  
  Read more

• Marriott, Starwood Hotels stockholders approve deal

  08-04-2016 21:08
  
  (Reuters) - Starwood Hotels & Resorts Worldwide Incand Marriott International Incsaid on Friday the stockholders of the companies voted to approve Marriott's acquisition of Starwood to create the...
  
  Read more

• MGM Growth to start marketing year's biggest U.S. IPO next week: sources

  08-04-2016 20:51
  
  (Reuters) - Real estate investment trust MGM Growth Properties LLC will start marketing its U.S. initial public offering to investors on Monday, in a road show targeting as much as $1.2 billion in...
  
  Read more

• Westar Energy draws takeover interest from Ameren: Bloomberg

  08-04-2016 20:47
  
  (Reuters) - Westar Energy Inc , the biggest power company in Kansas, has drawn takeover interest from St. Louis-based utility Ameren Corpas well as an investor consortium, Bloomberg reported on...
  
  Read more

• BRIEF-Pacific sunwear enters into restructuring support agreement with some lenders

  08-04-2016 18:44
  
  * Entered into a restructuring support agreement with ps
  holdings of delaware, llc and ps holdings agency corp
  
  Read more

• Global stock markets in mixed end to volatile week

  08-04-2016 18:25 via news.yahoo.com
  
  Stock markets rebounded in Europe and on Wall Street Friday but some stumbled in Asia, capping a volatile week as investors' concerns grow about the health of the global economy. London's benchmark FTSE 100 index ended the day up 1.1 percent, aided by rising oil prices, and despite poor official manufacturing and trade figures. In the eurozone, Frankfurt's DAX 30 closed 1.0 percent higher and the Paris CAC 40 climbed 1.35 percent.
  
  Read more

• Money for nothing? Swiss government gives thumbs down

  08-04-2016 18:08 via news.yahoo.com
  The Swiss government urged voters on Friday to reject a campaign calling for everyone to get a minimum guaranteed income no matter how much they work, saying the scheme would cost too much and undermine society. Basel cafe owner Daniel Haeni and his allies in the initiative suggest the prosperous Alpine nation of 8.3 million people pay each adult 2,500 Swiss francs ($2,619) a month. The Swiss cabinet said it recognized the overarching goal but this particular proposal would cost an estimated 208
  
  Read more

• Congo c.bank cuts 2016 growth forecast to 6.6 percent

  08-04-2016 17:56 via news.yahoo.com
  
  Democratic Republic of Congo cut its 2016 economic growth forecast to 6.6 percent, the country's Central Bank said on Friday, down from a previous estimate of 9 percent because of continuing weakness in commodity markets. The forecast is below 2015 growth of 6.9 percent, the bank said in a statement.
  
  Read more

• Britain's FTSE records another weekly gain, led by commodities

  08-04-2016 17:55
  
  * Experian falls after double downgrade on Brazil risk (Updates prices at close)
  
  Read more

• Nigeria's cocoa farmers and grinders still waiting on government policy help

  08-04-2016 17:41 via news.yahoo.com
  
  By Alexis Akwagyiram ILE-OLUJI, Nigeria (Reuters) - One year on from the election of President Muhammadu Buhari, Nigeria is still awaiting the promised policies to boost the cocoa sector, whose growth is seen as vital to offset a slump in oil revenue that has plunged the economy into crisis. Buhari routinely states the need to expand the agricultural sector to end the reliance of Africa's biggest oil producer on crude exports and cut its $20 billion annual food import bill. A priority is to deve
  
  Read more

• CORRECTED-BBVA sets bar for peripheral AT1 market

  08-04-2016 17:38
  
  LONDON, April 8 (IFR) - BBVA has showed just how much
  Southern European lenders must pay to issue Additional Tier 1
  capital in the aftermath of the market's collapse, pricing the
  riskiest deal yet...
  
  Read more

• Stocks climb on oil lift; dollar halts slide vs yen

  08-04-2016 17:34 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - Global equity markets rebounded on Friday, paced by a strong rise in oil prices, but were still on track for a weekly decline, while the dollar managed to stem its slide against the yen. Federal Reserve Chair Janet Yellen, in a conversation with former Fed chairmen on Thursday, said the U.S. economy is on a solid course and still on track to warrant further interest rate hikes.
  
  Read more

• Starboard urges Depomed board to pursue a potential sale

  08-04-2016 17:31 via news.yahoo.com
  
  (Reuters) - Activist investor Starboard Value LP, which has an economic stake of 9.8 percent in Depomed Inc , in a letter criticized the drugmaker's board over corporate governance deficiencies and other matters and urged it to explore a potential sale. Depomed's shares were up 11.6 percent at $16.71 in morning trading on Friday. In the letter addressed to the Depomed board, Starboard raised concerns regarding the company's "corporate governance deficiencies, questionable capital allocation deci
  
  Read more

• Wall Street gains driven by surge in oil prices

  08-04-2016 17:30 via news.yahoo.com
  
  Yellen said on Thursday the U.S. economy was on a solid course with some hints of inflation, putting the central bank on track for a gradual increase in interest rates this year. New York Fed President William Dudley said a cautious and gradual approach to raising rates was appropriate, given lingering external risks to the U.S. economy. "The market's been directionless all week and there hasn't been any clear trend to speak of," Neil Massa, senior trader at John Hancock Asset Management in Bost
  
  Read more

• Investors favor European drug stocks in spite of M&A crackdown

  08-04-2016 16:24
  
  LONDON (Reuters) - In a drug sector awash with cash, even U.S. government moves to call time on an acquisition boom aren't dousing hopes for more takeover deals as companies look to expand.
  
  Read more

• TSX jumps 1 percent on surge in jobs data, oil rise

  08-04-2016 16:20 via news.yahoo.com
  
  TORONTO (Reuters) - Canada's main stock index jumped 1 percent on Friday as higher crude oil prices supported energy stocks and unexpectedly robust jobs data added to evidence of a pick-up in the domestic economy. Canada added far more jobs than expected last month as service sector hiring accelerated and the unemployment rate fell from a three-year high, data showed. Oil prices rose, lifted by hopes a punishing global excess could be nearing a tipping point and firm U.S. and German economic ind
  
  Read more

• Canada unemployment rate dips to 7.1 percent in March

  08-04-2016 16:11 via news.yahoo.com
  
  The Canadian economy gained 41,000 jobs in March, driven by demand for health care and social assistance workers, according to government data Friday which showed a drop in the unemployment rate to 7.1 percent. It was an improvement from the 7.3 percent unemployment rate in February, the highest level seen in three years. The March figures were better than expected, with analysts projecting unemployment to hold steady from the February level.
  
  Read more

• Yahoo extends deadline for bids by a week - Re/code

  08-04-2016 15:57 via news.yahoo.com
  
  (Reuters) - Yahoo Inc has extended the deadline to bid for its businesses by a week to April 18, technology news website Re/code reported, citing people familiar with the matter. Yahoo, whose shares were up 1.7 percent in early trading, had set an April 11 deadline for preliminary bids, which could yield a deal by June or July, the Wall Street Journal had reported. Yahoo has launched an auction of its core Internet business, which includes search, mail and news sites, after abandoning its plan t
  
  Read more

• Energy stocks lead an early gain on Wall Street

  08-04-2016 15:42 via news.yahoo.com
  
  NEW YORK (AP) — Stocks are rising in early trading, led by energy companies as the price of crude oil turns sharply higher.
  
  Read more

• Canada hiring jumps in March, latest sign of resurgent growth

  08-04-2016 15:29 via news.yahoo.com
  
  By Leah Schnurr OTTAWA (Reuters) - Canada added far more jobs than expected last month as service sector hiring accelerated and the unemployment rate fell from a three-year high, although economists were wary of reading too much into the notoriously volatile figures. Separate data on Friday showed activity in the housing sector held up in March, with housing starts declining less than expected to 204,251 units. The economy created 40,600 jobs in March, Statistics Canada said, far surpassing econ
  
  Read more

• Kenya says to get $600 mln from China to help fund 2015/16 deficit

  08-04-2016 15:28 via news.yahoo.com
  Kenya will agree a $600 million loan from China to help fund a budget deficit in the fiscal year starting last July, a senior Treasury official said on Friday. East Africa's top economy is targeting a budget deficit of 6.9 percent of GDP in the 2016/17 fiscal year (July-June), compared with a revised 8.1 percent this year, the ministry of finance said in February. "It is part of financing the deficit." Kenya's government had factored in external funding when it presented its budget to parliament
  
  Read more

• MSCI could exclude Nigeria from Frontier Markets index

  08-04-2016 15:26 via news.yahoo.com
  Index provider MSCI is seeking feedback from investors on the ease of access to the Nigerian equity market, a move that could lead to it being excluded from MSCI's Frontier Markets index. The consultation follows the introduction of restrictions on foreign currency trading, MSCI said in a statement issued late on Thursday, adding that it would announce its decision on or before April 29. Nigeria, Africa's biggest economy, is facing its worst crisis in decades as the falling price of oil has slas
  
  Read more

• Pakistan stocks end higher; rupee firm, o/n rates fall

  08-04-2016 15:05
  
  KARACHI, April 8 (Reuters) - Pakistan stocks closed marginally higher on Friday, posting their second straight weekly gain, in mixed trade.
  
  Read more

• Commodities boost Britain's FTSE to another weekly rise

  08-04-2016 14:03
  
  * Experian falls after double downgrade on Brazil risk (Adds detail and quote, updates prices)
  
  Read more

Follow @FinanceUSA_News on Twitter!