Finance news

• US, European stocks boosted by oil, better Fed outlook

  27-04-2016 23:47 via news.yahoo.com
  
  New York (AFP) - US and European stocks finished mostly higher Wednesday as a rise in crude prices lifted oil shares and the Federal Reserve gave a somewhat more optimistic view of the global economy.
  
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• Mitsubishi says U.S. mileage ratings for its cars are correct

  27-04-2016 23:41 via news.yahoo.com
  
  Mitsubishi Motors Corp, which has admitted manipulating fuel economy tests for mini-vehicles in Japan, on Wednesday said its vehicles for the model years 2013 to 2017 sold in the United States have correct mileage ratings. Mitsubishi said it has gone back and re-tested the models from those model years sold in the U.S. market. "Our findings confirm that fuel economy testing data for these U.S. market vehicles is accurate and complies with established EPA procedures," the company's North American
  
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• Facebook revenue smashes expectations as mobile ad sales surge

  27-04-2016 23:33 via news.yahoo.com
  
  (Reuters) - Facebook Inc's quarterly revenue rose more than 50 percent, handily beating Wall Street expectations as its wildly popular mobile app and a push into live video lured new advertisers and encouraged existing ones to boost spending. Facebook also announced a proposal to create a new class of non-voting shares, which would be given as a dividend to existing shareholders. The dividend of non-voting shares would allow Chief Executive Mark Zuckerberg, who plans to give away the majority of
  
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• U.S. stocks rise, bond yields fall, oil hits 2016 high after Fed statement

  27-04-2016 23:24 via news.yahoo.com
  
  Wall Street stocks edged up, U.S Treasury debt yields fell, and oil prices rose to the highest level of the year on Wednesday after the Federal Reserve signaled it was in no hurry to change policy. The Fed's policy interest rate target was left unchanged at 0.25 percent to 0.5 percent as expected, and the U.S. central bank expressed confidence in the U.S. economic outlook, leaving the door open to an interest rate rise in June, but gave no indication it felt the need to hike. The Fed said the la
  
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• UPDATE 1-First Solar stock slips after first revenue miss in four qtrs

  27-04-2016 23:20
  April 27 (Reuters) - Solar panel maker First Solar Inc
  reported its first revenue miss in four quarters,
  sending its shares down as much as 9 percent in after-market
  trading.
  
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• UPDATE 2-Facebook revenue smashes expectations as mobile ad sales surge

  27-04-2016 23:16
  
  April 27 (Reuters) - Facebook Inc's quarterly revenue
  rose more than 50 percent, handily beating Wall Street
  expectations as its wildly popular mobile app and a push into
  live video lured new...
  
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• The advantages of taking on more risk as you age

  27-04-2016 23:14
  
  (Reuters) - Your lifecycle fund with its tapering equity allocation may be injurious to your wealth.
  
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• Fed signals no rush to hike rates as economy hits soft patch

  27-04-2016 23:12 via news.yahoo.com
  
  The Federal Reserve left interest rates unchanged on Wednesday, but kept the door open to a hike in June while showing little sign it was in a hurry to tighten monetary policy amid an apparent slowdown in the U.S. economy. "The committee continues to closely monitor inflation indicators and global economic and financial developments," the Fed said following a two-day meeting. Fed policymakers in March forecast two hikes this year.
  
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• Athletes chosen in NFL draft need to plan for the long game

  27-04-2016 23:02
  
  NEW YORK (Reuters) - Every year, the National Football League draft makes a number of strapping young men very, very rich.
  
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• IEX exchange bid should be judged on its own merits - FINRA chief

  27-04-2016 22:52 via news.yahoo.com
  
  By John McCrank NEW YORK (Reuters) - A proposal to let U.S. stock exchanges delay order responses by less than a millisecond will likely move ahead, paving the way for "Flash Boys" heroes IEX Group to become an exchange, the head of Wall Street's self-funded watchdog said on Wednesday. Such delays would not harm the ability of market participants to access stock quotes and could encourage innovation from exchanges that benefits investors, the U.S. Securities and Exchange Commission said in its p
  
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• Wall Street ticks up as hawkish Fed fears ebb; Apple weighs

  27-04-2016 22:43 via news.yahoo.com
  
  U.S. stocks ended slightly higher on Wednesday after fears eased that the Federal Reserve would strongly signal it would raise interest rates in June, though a slump in Apple shares weighed on the Nasdaq index. Stocks in the telecom and utilities sectors, seen as proxies for fixed income returns when Treasury yields are expected to remain low, rose sharply after the Fed's announcement. "The big takeaway here is they (the Fed) continued to be positive on the domestic economy," said John Bailer, s
  
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• Fed frets less over world economy; June rate hike odds rise

  27-04-2016 22:38 via news.yahoo.com
  
  The Federal Reserve appeared more optimistic about global economic conditions Wednesday as it kept interest rates unchanged, raising the possibility that a rate hike could come as soon as mid-June. The Fed cited slower growth in the US economy, despite further gains in the labor market, in holding the fed funds rate at an ultra-low 0.25-0.50 percent as expected. After a two-day review, the FOMC stuck to its stance that US monetary policy will tighten only gradually and gave no clear direction on
  
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• Yahoo to add four directors to board in deal with Starboard

  27-04-2016 22:33
  
  (Reuters) - Yahoo Incon Wednesday agreed to add four new independent directors to its board, bowing to pressure from activist hedge fund Starboard Value LP and averting a proxy fight ahead of its...
  
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• UPDATE 1-Facebook revenue beats estimates as mobile ad sales surge

  27-04-2016 22:25
  
  April 27 (Reuters) - Facebook Inc reported a
  better-than-expected 51.9percent rise in quarterly revenue as
  its increasingly popular mobile app and push into live video
  continued to attract new...
  
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• Venezuela's economic troubles 'not sustainable': IMF

  27-04-2016 21:58 via news.yahoo.com
  
  Venezuela's economic situation, blighted by the collapse of oil prices, is unsustainable in the medium term, a senior International Monetary Fund official warned on Wednesday. Alejandro Werner, the director of the IMF's Western Hemisphere department, said the South American country's economy has "deteriorated even more" in recent months due to an energy crisis stemming from a lack of infrastructure and unfavorable weather. With oil prices sapping Venezuela's gross domestic product, "the economic
  
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• World Bank keeps its distance from Iran, despite lifted sanctions

  27-04-2016 21:24 via news.yahoo.com
  
  The World Bank aims to eradicate global poverty, but its push stops at the Iranian border despite the easing of sanctions against Tehran and the country's pressing economic needs. The Washington-based development bank seems reluctant to reengage in a country where it stopped all new projects in 2005 in compliance with the international sanctions imposed over Iran's nuclear program. "We're following the situation very closely ... we don't have any specific plans yet," said World Bank President Ji
  
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• Carlyle first quarter earnings fall almost 80 percent but still beat forecast

  27-04-2016 21:20 via news.yahoo.com
  
  Private equity firm Carlyle Group LP bucked its sector's trend on Wednesday by posting first-quarter earnings that beat market forecasts, even as it reported a drop in the assets managed by the firm that also set it apart from its peers. The surprisingly buoyant earnings numbers contrasted with disappointing quarterly performances from some of Carlyle's rivals, as stormy financial markets eroded returns. Known for multibillion dollar corporate takeovers that were in vogue before the 2008 global
  
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• Wall St. stocks steady, bond yields fall, oil hits 2016 high after Fed

  27-04-2016 21:18 via news.yahoo.com
  
  By Dion Rabouin NEW YORK (Reuters) - Wall Street stocks were steady, U.S Treasury debt yields fell sharply, and oil prices rose to their highest level of the year on Wednesday after the Federal Reserve announced it would keep U.S. interest rates unchanged. The Fed left their policy interest rate target at the previous level of 0.25 percent to 0.5 percent as expected,and while it left the door open to a rate rise in June, its statement implied that it was in no hurry to follow on from its Decembe
  
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• Wall Street stocks steady, bond yields fall, oil hits 2016 high after Fed

  27-04-2016 21:17 via news.yahoo.com
  
  By Dion Rabouin NEW YORK (Reuters) - Wall Street stocks were steady, U.S Treasury debt yields fell sharply, and oil prices rose to their highest level of the year on Wednesday after the Federal Reserve announced it would keep U.S. interest rates unchanged. The Fed left their policy interest rate target at the previous level of 0.25 percent to 0.5 percent as expected, and while it left the door open to a rate rise in June, its statement implied that it was in no hurry to follow on from its Decemb
  
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• ANALYSIS-After massive drop, is Apple cheap enough?

  27-04-2016 20:56
  
  NEW YORK, April 27 (Reuters) - If Apple could cash
  in the value it lost in the first minute of trading on
  Wednesday, it would be nearly enough to buy General Motors,
  Target or Caterpillar.
  
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• London Stock Exchange, Deutsche Boerse say merger on track

  27-04-2016 20:53
  
  LONDON/FRANKFURT (Reuters) - The London Stock Exchange Group and Deutsche Boerse said their planned $30 billion merger was on track and steadily winning support, despite a looming UK vote on...
  
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• Fed leaves rates alone, signals confidence in economy

  27-04-2016 20:51 via news.yahoo.com
  The U.S. central bank's policy-setting committee said the labor market had improved further despite a recent economic slowdown and that it was keeping a close eye on inflation. * "The committee continues to closely monitor inflation indicators and global economic and financial developments," the Fed said in a statement following a two-day meeting.
  
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• A day after credit downgrade by S&P, Exxon hikes dividend

  27-04-2016 20:40 via news.yahoo.com
  NEW YORK (AP) — A day after losing its cherished AAA credit rating partly due to billions paid to shareholders, Exxon Mobil is raising its dividend again.
  
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• UPDATE 5-Boston Scientific hits 10-year high on strong results, forecast

  27-04-2016 20:35
  * Shares surge 12 pct to 10-year high(Adds second quarter forecast, updates shares)
  
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• Fed keeps key rate unchanged, noting slower US growth

  27-04-2016 20:35 via news.yahoo.com
  
  The Federal Reserve kept its benchmark interest rate unchanged Wednesday citing slower growth in the US economy even as the labor market strengthens. The Fed stuck to its stance that US monetary policy will tighten only gradually and gave no hint as to whether it could lift the short-term federal funds rate at its next meeting in June. Instead, it suggested that domestic growth -- generally thought to have slowed to about a 0.9 percent annual pace in the first quarter -- and still-weak inflation
  
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• Fed signals no rush to raise rates as pace of U.S. recovery moderates

  27-04-2016 20:32 via news.yahoo.com
  
  The Federal Reserve held interest rates unchanged on Wednesday and while it left the door open to a hike in June, its statement implied that it was in no hurry to follow on from its December rate rise. The U.S. central bank's policy-setting committee said the labor market had improved further despite a recent economic slowdown and that it was keeping a close eye on inflation. Fed rate setters forecast two hikes this year.
  
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• Traders keep bets on September rate hike after Fed meeting

  27-04-2016 20:17 via news.yahoo.com
  (Reuters) - U.S. short-term interest rate futures contracts swung down, then up on Wednesday after the Federal Reserve ended its two-day policy-setting meeting with rates on hold as expected, but signaled its faith in the U.S. economic outlook.
  
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• World stocks, US dollar down as markets await Fed

  27-04-2016 20:14 via news.yahoo.com
  
  By Dion Rabouin NEW YORK (Reuters) - Stocks on major markets rose slightly from session lows in early afternoon trading on Wednesday after disappointing earnings from Apple and Twitter late Tuesday, while the U.S. dollar weakened ahead of a policy announcement by the Federal Reserve and oil prices rose to 2016 highs. Twitter tumbled more than 15 percent after first-quarter revenue lagged expectations. Gains in Boston Scientific, Boeing and Mondelez helped limit the losses with Wall Street stocks
  
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• Venezuela imposes two-day workweek as president faces recall bid

  27-04-2016 20:09 via news.yahoo.com
  
  Venezuela's President Nicolas Maduro faced rising pressure Wednesday over his latest measures to deal with severe electricity shortages, including a two-day public sector workweek, as opponents pushed for a referendum to remove him. A day after Maduro announced his latest drastic measures to tackle power shortages in the recession-hit country, the opposition was gathering signatures for an official petition to launch a referendum. Citizens queued up to sign the demand presented by the opposition
  
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• As Valeant’s CEO Apologizes, the Rest of the Industry Keeps Hiking Drug Prices

  27-04-2016 19:46 via news.yahoo.com
  
  The outgoing CEO of embattled Valeant Pharmaceutical delivered a mea culpa to members of Congress on Wednesday morning, saying that he and his company had been “too aggressive” in acquiring drugs and shamelessly jacking up their prices at the expense of consumers, insurers and government health care agencies. “Let me state plainly that it was a mistake to pursue, and in hindsight I regret pursuing, transactions where a central premise was a planned increase in the prices of the
  
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• Anthem trumps Street 1Q forecasts, reaffirms 2016 guidance

  27-04-2016 19:34 via news.yahoo.com
  
  INDIANAPOLIS (AP) — Growing government business fueled Anthem in the first quarter, as earnings for the nation's second-largest health insurer easily topped Wall Street expectations.
  
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• Wall Street off its lows 30 minutes before Fed decision

  27-04-2016 19:31 via news.yahoo.com
  
  Apple's shares were down 6.2 percent at $97.91, making it the biggest drag on the three major indexes. No change in rates is expected but the Fed may signal its intention to tighten policy this year. "Investors are treading water right now," said Kim Forrest, senior equity research analyst, Fort Pitt Capital Group in Pittsburgh.
  
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• Stock markets diverge awaiting Federal Reserve meeting

  27-04-2016 19:16 via news.yahoo.com
  
  Shares in Europe rose, while US stocks were flat Wednesday, as investors awaited a US Federal Reserve meeting and digested a raft of company earnings reports. Asian markets took a knock, with US tech giant Apple's suppliers hit by the group's first fall in iPhone sales. In Europe, London closed 0.6 percent firmer after an earlier drift as official data showed British economic growth slowing in the first quarter.
  
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• How some SunEdison creditors scored a safe, lucrative debt deal

  27-04-2016 19:05
  
  (Reuters) - When a group of hedge funds agreed to lend $725 million to SunEdison Inc - three months before it filed for bankruptcy last week - they secured an unusually generous concession from the...
  
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• Social media users upbeat on Facebook; gloomy on Apple, Twitter

  27-04-2016 18:47
  
  April 27 (Reuters) - Social media sentiment for Apple Inc
  and Twitter Inc dropped sharply on Wednesday,
  a day after the companies reported disappointing quarterly
  earnings, while online circles...
  
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• Wall Street pares losses as investors await Fed decision

  27-04-2016 18:42 via news.yahoo.com
  
  U.S. stocks were off their lows in early afternoon trading on Wednesday as Apple pared some losses, ahead of a policy decision by the U.S. Federal Reserve. Apple's shares were down 5.7 percent at $98.44. No change in rates is expected but the Fed may signal its intention to tighten policy this year.
  
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• Foes begin drive to recall Venezuela leader amid unrest

  27-04-2016 18:00 via news.yahoo.com
  
  By Eyanir Chinea and Manuel Hernandez CARACAS/MARACAIBO (Reuters) - Venezuela's opposition began a signature drive on Wednesday seeking a referendum to remove President Nicolas Maduro as sporadic looting and protests over the economic crisis were reported. The Democratic Unity coalition was holding events in squares around the country to start collecting the 1 percent of voters' signatures, nearly 200,000, needed to trigger the next phase toward a possible recall referendum. Maduro, 53, who succ
  
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• Britain's FTSE rises after Glaxo boost

  27-04-2016 17:58
  * Tesco hit by broker comment(ADVISORY- Reuters plans to replace intra-day European and UK
  stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets
  ...
  
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• Wall Street upgrades U.S. GDP view after trade data

  27-04-2016 17:54 via news.yahoo.com
  NEW YORK (Reuters) - Some of Wall Street's top firms on Wednesday raised their forecasts on the pace of U.S. economic growth in first quarter after the advance data on goods trade deficit shrank in March, posing a smaller drag on overall business activity.
  
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• Smaller U.S. goods trade gap seen boosting first-quarter GDP growth

  27-04-2016 17:40 via news.yahoo.com
  
  The U.S. goods trade deficit narrowed sharply to a one-year low in March, as both imports and exports fell, suggesting economic growth in the first-quarter was probably not as weak as currently anticipated. The Commerce Department said in its advance report on Wednesday that the goods trade gap tumbled 10.3 percent to $56.90 billion last month, the smallest deficit since February 2015. While the improvement suggested there could be an upside surprise in gross domestic product growth for the firs
  
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• US pending home sales rise in March

  27-04-2016 17:39 via news.yahoo.com
  
  US pending home sales rose in March, signaling the housing market could pick up in the spring selling season despite rising prices, the National Association of Realtors said Wednesday. The US economy was in a lull in the first quarter, and the housing market got off to a sluggish start. The NAR's pending home sales index rose 1.4 percent in March, much stronger than the 0.3 percent rise expected by analysts.
  
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• Tech companies drag US stocks lower following Apple earnings

  27-04-2016 17:30 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks are falling Wednesday morning trading as tech stocks post sharp declines following weak results from Apple and Twitter. Utility companies are rising as bond yields fall.
  
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• Apple drags Wall Street lower ahead of Fed decision

  27-04-2016 17:22 via news.yahoo.com
  
  Wall Street was dragged lower on Wednesday, ahead of a policy decision by the U.S. Federal Reserve, after Apple's first revenue decline in over a decade aroused worries about the health of corporate earnings. Apple's shares were down 7 percent at $96.93 and were set for their biggest one-day fall in more than two years. No change in rates is expected but the Fed may signal its intention to tighten policy this year.
  
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• UPDATE 1-Crunch time for Twitter as ad dollars remain elusive

  27-04-2016 17:11
  
  April 27 (Reuters) - Twitter Inc's race against the
  clock is intensifying.
  
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• Britain would pay a 'Brexit tax' outside the EU - OECD

  27-04-2016 17:01 via news.yahoo.com
  
  By William Schomberg LONDON (Reuters) - British voters risk paying a "Brexit tax" equivalent to a month's salary by 2020 if they leave the European Union, the OECD said on Wednesday, joining a chorus of economic bodies warning against an exit. Angel Gurria, secretary general of the Organisation for Economic Co-operation and Development, said Britain outside the EU would face less access to the bloc's single market, lower investment and companies moving abroad. The global economic policy body war
  
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• Syrian Kurdish leader sees Turkish hand in border closure

  27-04-2016 16:53 via news.yahoo.com
  
  By Tom Perry and Rodi Said BEIRUT/AMUDA, Syria (Reuters) - The Kurdish government in Iraq has dealt a blow to Kurdish-controlled areas of northern Syria by keeping the border closed for more than one month, an economic and political setback for the Syrian region as it plans for wider autonomy. The Kurdish administration in northeastern Syria believes it is being targeted by the Kurdish government in Iraq in coordination with regional power Turkey, which is deeply concerned by growing Kurdish swa
  
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• World Bank and Nigerian president discuss the country's economic crisis

  27-04-2016 16:32 via news.yahoo.com
  
  By Felix Onuah ABUJA (Reuters) - The World Bank held talks with the Nigerian president on Wednesday on how it could help Nigeria overcome an economic crisis caused mainly by a sharp fall in crude prices eating into its oil revenues. On her second day of meetings with Nigerian officials, World Bank Managing Director and Chief Operating Officer Sri Mulyani Indrawati met President Muhammadu Buhari, who plans to stimulate the flagging economy with a record 6 trillion naira ($31 billion) budget. Nige
  
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• Nigeria's FBN Holdings sees no need to raise equity after loan losses

  27-04-2016 16:31 via news.yahoo.com
  By Chijioke Ohuocha LAGOS (Reuters) - Nigeria's biggest banking group FBN Holdings has no need to tap equity markets after an unexpected 119 billion naira ($600 million) loan loss provision last year, but will limit lending growth to boost capital, its CEO said on Wednesday. Urum Kalu Eke said 2015 was a difficult year for the banking group due to weak economic growth in Nigeria, rising inflation and dollar shortages in the currency market, which made it hard for customers to service their loans
  
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• CORRECTED-Twitter seen fighting losing battle for users, ad dollars

  27-04-2016 16:20
  April 27 (Reuters) - Twitter Inc's race against the
  clock is intensifying.
  
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• UPDATE 1-Kinnevik's Global Fashion Group cut sparks Rocket Internet fall

  27-04-2016 15:59
  
  * Rocket shares fall 14.34 pct as cuts own GFG valuation(Adds details on fashion group valuation; market comparisons)
  
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