Finance news

• TransCanada says delays to Energy East has cost Canada billions

  29-04-2016 23:06 via news.yahoo.com
  
  By Nia Williams CALGARY, Alberta (Reuters) - Delays in approving TransCanada Corp's Energy East pipeline have cost Canada's struggling economy billions of dollars, the company's chief executive said on Friday, adding he was hopeful regulators would finish their review by 2018 as scheduled. Speaking on Friday after TransCanada reported a drop in quarterly profits that still came in above expectations, the company's Chief Executive Officer Russ Girling said the No. 2 pipeline operator has had diff
  
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• Wall Street falls as earnings weigh; Dow, S&P up for month

  29-04-2016 22:42 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - U.S. stocks posted their largest weekly drop in more than two months on Friday as earnings reports continued to weigh, but the S&P 500 and Dow managed to close up for April after strong showings mid-month. Company results once more gave the market direction as a 9 percent decline in Gilead Sciences shares weighed the most on both the S&P and the Nasdaq Composite. Apple and Gilead, alongside Corning , Goodyear and Xerox are among the companies that r
  
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• Yen posts biggest weekly gain since 2008, stocks slip

  29-04-2016 22:22 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - The yen hit an 18-month high on Friday as investors bet the Bank of Japan might be done adding stimulus to the economy, while stocks in Europe and on Wall Street headed lower as earnings disappointed. The yen posted its biggest weekly gain since the 2008 financial crisis, also spurred by a weak reading of U.S. economic growth in the first quarter on Thursday and the Federal Reserve's cautious tone this week. The yen has gained 3 percent since Thursday when th
  
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• Wall Street Week Ahead - With weak earnings in tow, focus turns to jobs data

  29-04-2016 21:30 via news.yahoo.com
  
  By Laila Kearney NEW YORK (Reuters) - Coming off a barrage of flimsy company earnings reports that included Apple's first revenue drop in 13 years, investors will turn to April jobs data for signs of budding resilience or further weakening in the second quarter. U.S. nonfarm payrolls, unemployment and wages data are due Friday May 6, when the economy is expected to have added 200,000 jobs in April, with the unemployment rate unchanged at 5 percent and a wage increase of 0.3 percent, according to
  
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• U.S. earnings still lousy, but showing signs of life

  29-04-2016 21:21 via news.yahoo.com
  
  As earnings season begins to enter the homestretch, what has shaped up to be a dismal quarter for quarterly profits may have reached a bottom. With 311 of the S&P 500 companies having posted results through Friday, 74.6 percent have topped earnings expectations, well above the 63 percent average since 1994 and 68.5 percent for the past four quarters, according to data from Thomson Reuters Proprietary Research. Perhaps more importantly, Thomas Lee, managing partner at Fundstrat Global Advisor
  
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• Transatlantic trade talks claim progress, see deal this year

  29-04-2016 21:00 via news.yahoo.com
  
  Negotiators on the ambitious TTIP transatlantic trade pact said they had made significant progress in New York this week and hope for a deal in 2016, despite popular opposition on both sides. Both sides said they would not be deterred by increased attacks on the Transatlantic Trade and Investment Partnership, and did not plan to water it down despite vocal objections from politicians and the public on both sides. "The United States has no interest in a 'TTIP light' that would not fulfil the econ
  
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• Here’s Some Rare Good News About 401(k) Savings

  29-04-2016 20:15 via news.yahoo.com
  
  Undeterred by a rocky stock market in the first quarter, a record number of Americans upped their contributions to their 401(k) retirement plans. Fidelity reported on Friday that 13.6 percent of 401(k) investors increased their savings rate in the first quarter, topping the previous high of 12.9 percent set in the first quarter of 2015. The total savings rate for 401(k) savers, which includes individual and employer contributions, also reached a record 12.7 percent in the period, surpassing the
  
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• Apple's stock suffers worst week since 2013

  29-04-2016 19:36 via news.yahoo.com
  
  By Noel Randewich SAN FRANCISCO (Reuters) - Apple was set on Friday to have its worst week on the stock market since 2013, as worries festered about a slowdown in iPhone sales and after influential shareholder Carl Icahn revealed he sold his entire stake. Shares of Apple, a mainstay of many Wall Street portfolios and the largest component of the S&P 500, have dropped 11 percent in the past five sessions. Confidence in the Cupertino, California company has been shaken since posting its first-
  
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• Argentine unions flex muscle in anti-government street protest

  29-04-2016 19:18 via news.yahoo.com
  
  Thousands of Argentines took to the streets of the capital on Friday to protest the policies of President Mauricio Macri, a taste of the backlash he faces for economic reforms that have swelled the ranks of the poor. Protesters, waving flags and chanting anti-government slogans, demanded an end to public sector job cuts and plummeting buying power in a demonstration called by the country's biggest unions. "We are losing buying power in a significant way," Pablo Micheli, the secretary general of
  
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• Dreams deferred in Brazil as teetering Rousseff slashes student loans

  29-04-2016 19:05 via news.yahoo.com
  
  By Juliana Schincariol CARUARU, Brazil (Reuters) - Jordânia Feitosa was three months into nursing studies at a private university in northeast Brazil when she learned her student loan application had been denied. Unable to afford the fees, the 18-year old farmer's daughter dropped out and now hopes against high odds to land a coveted slot at a free public university. Like many of her age, Feitosa feels betrayed by a leftist government that during 13 years in power has prided itself on econ
  
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• Healthcare stocks, weak data weigh on Wall Street

  29-04-2016 18:58 via news.yahoo.com
  
  Wall Street was lower for a second day on Friday as investors assessed corporate earnings and data showed that U.S. inflation barely rose in March as consumer spending remains tepid. Shares of Gilead Sciences fell 7.4 percent to $89.89 after a drop in quarterly profit, making it the biggest drag on the S&P and the Nasdaq. Apple was down 1.3 percent at $93.61 a day after billionaire investor Carl Icahn told CNBC he no longer has a position in the company.
  
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• Healthcare stocks, weak data weigh on Wall St

  29-04-2016 18:55 via news.yahoo.com
  
  (Reuters) - Wall Street was lower for a second day on Friday as investors assessed corporate earnings and data showed that U.S. inflation barely rose in March as consumer spending remains tepid.
  
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• Eurozone growth fails to stir stock markets

  29-04-2016 18:44 via news.yahoo.com
  
  A strong eurozone growth spurt failed to stir stock markets on Friday, as concerns about the US economy gnawed at investor confidence.
  
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• Ratings agency S&P sees UK staying in EU by small majority

  29-04-2016 18:39 via news.yahoo.com
  
  Ratings agency Standard & Poor's said on Friday it expected Britons to vote to remain in the European Union by a small majority in a June 23 referendum, but that the risk of leaving was a negative for the country's creditworthiness. S&P is the only major ratings agency to maintain a triple-A rating for Britain, but it has a negative outlook, implying a one-in-three chance of a downgrade in the next two years. "The negative outlook continues to reflect our view that the forthcoming refere
  
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• Nigeria's Fidelity Bank shares down after anti-corruption agency detains CEO

  29-04-2016 18:32 via news.yahoo.com
  
  Shares in Nigeria's Fidelity Bank shed 2.5 percent on Friday after the financial crimes agency said it had arrested the lender's chief executive as part of an investigation into transactions made in the run-up to elections last year. Nnamdi Okonkwo, Fidelity CEO has been in custody of the Economic and Financial Crimes Commission (EFCC) since Wednesday, the agency said on Thursday. Fidelity Bank said in a statement on Thursday that "the transactions were duly reported as required by the regulator
  
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• Malawi's central bank leaves benchmark lending rate unchanged at 27.0 pct

  29-04-2016 18:29 via news.yahoo.com
  
  Malawi's central bank kept its benchmark lending rate unchanged at 27 percent on Friday saying it would continue to monitor food inflation and economic growth in the midst of a severe drought that has ravaged its key agriculture sector. Malawi's consumer inflation slowed to 22.1 percent year-on-year in March from 23.4 percent in February, but remains at elevated levels which the government is keen to bring down.
  
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• Eurozone economy finally reaches pre-crisis levels

  29-04-2016 18:14 via news.yahoo.com
  
  Brussels (AFP) - The eurozone's economy grew far beyond expectations in the first quarter of 2016, finally surpassing pre-crisis levels after eight years, as cheap oil and credit made itself felt.
  
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• Britain's FTSE pushed down by drops at RBS and IAG

  29-04-2016 18:05 via news.yahoo.com
  Britain's top stock market index slid on Friday to record its second straight week of losses, hit by a fall in the shares of Royal Bank of Scotland and airline IAG. The blue-chip FTSE 100 index ended down ...
  
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• BRIEF-Miner NWR says subsidiary OKD board to discuss insolvency on May 3

  29-04-2016 18:04
  
  * Says coal mining operations subsidiary OKD board to
  discuss insolvency on May 3
  
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• BRIEF-DF Deutsche Forfait says local court confirms insolvency plan

  29-04-2016 18:01
  
  * Board of management of df deutsche forfait ag therefore
  assumes that confirmation by court will become final no later
  than May 17, 2016
  
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• Markets Right Now: Stocks move lower on Wall Street

  29-04-2016 17:54 via news.yahoo.com
  
  NEW YORK (AP) — The Latest on global financial markets (all times local):
  
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• Wall St. lower as investors assess earnings, data

  29-04-2016 17:40 via news.yahoo.com
  
  (Reuters) - Wall Street was lower for a second day on Friday as investors assessed corporate earnings and data showed that U.S. inflation barely rose in March as consumer spending remains tepid.
  
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• Yen posts biggest weekly gain since 2008, stocks fall

  29-04-2016 17:37 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - The yen hit an 18-month high on Friday as investors bet the Bank of Japan might be done adding fresh stimulus to the economy, while stocks in Europe and Wall Street headed lower as earnings failed to inspire higher valuations. U.S. equities fell about 0.7 percent, following declines in Europe where major stock indexes fell 2 percent or more. The yen was on track for its biggest weekly gain since the 2008 financial crisis, also spurred by a weak reading of U.S
  
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• T. Rowe Price accused of charging excessive mutual fund fees

  29-04-2016 17:36
  
  (Reuters) - A group of investors in T. Rowe Price mutual funds have accused the U.S. investment manager of charging an estimated $388 million in excessive fees, according to a federal civil lawsuit.
  
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• Wall Street lower as investors assess earnings, data

  29-04-2016 17:31 via news.yahoo.com
  
  Shares of Gilead Sciences fell 8.4 percent to $88.86 after a drop in quarterly profit, making it the biggest drag on the S&P and the Nasdaq. Apple was down 1.5 percent at $93.38 a day after billionaire investor Carl Icahn told CNBC he no longer has a position in the company. Adding to the day's selling pressure, inflation data clouded the path of future rate hikes by the Federal Reserve.
  
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• German inflation negative in April as prices slip by 0.1%: stats office

  29-04-2016 17:12 via news.yahoo.com
  
  Inflation in Germany turned negative in April, dragged down by falling energy prices, a preliminary estimate showed on Friday. Correcting an estimate published the day before, the federal statistics Destatis calculated that Germany's national inflation yardstick, the consumer price index, eased by 0.1 percent April, instead of edging up by 0.1 percent as it had first said. In March, the inflation rate in Europe's biggest economy had stood at 0.3 percent.
  
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• US consumer spending flat in March

  29-04-2016 16:22 via news.yahoo.com
  
  US consumers held tight to their wallets in March, spending barely more than they had in February despite enjoying higher incomes, according to Commerce Department data issued Friday. Consumer spending, which typically accounts for two thirds of US economic activity, edged up just 0.1 percent from February but was flat when adjusted for price changes, the department said. Contributing to the economy's weakness at the turn of the year, consumer spending has slowed for three straight quarters, and
  
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• Eurozone economy regains size of 2008 but remains shaky

  29-04-2016 16:19 via news.yahoo.com
  
  LONDON (AP) — It's been a long and tortuous journey, but the eurozone economy is finally back to the size it was before the global financial crisis.
  
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• Algeria's Bouteflika returns from Geneva medical trip: state media

  29-04-2016 16:19 via news.yahoo.com
  
  Algeria's President Abdelaziz Bouteflika, 79, has returned to Algiers after a brief visit to Geneva for medical checkups, his latest since a stroke three years ago that has mostly kept him out of the public view. Bouteflika, who has governed the North African OPEC state for more than 15 years, left a week ago for "regular medical checkups", state media said. Bouteflika's illness has prompted speculation about a possible transition from a leader who helped bring the country out of a 1990s war wit
  
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• Wall Street opens lower as investors assess earnings, data

  29-04-2016 16:03 via news.yahoo.com
  
  Wall Street opened lower as investors assessed earnings and data showed that U.S. inflation barely rose in March as consumer spending remains tepid. The Commerce Department said the personal consumption expenditures price index, excluding the volatile food and energy components, edged up 0.1 percent last month after an upwardly revised 0.2 percent increase in February. "I think we are looking at a cautious trading day as the poor earnings season finally catches up, though oil could help smoothen
  
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• Wall St. opens lower as investors assess earnings, data

  29-04-2016 16:03 via news.yahoo.com
  
  The Commerce Department said the personal consumption expenditures price index, excluding the volatile food and energy components, edged up 0.1 percent last month after an upwardly revised 0.2 percent increase in February. At 9:38 a.m. ET (1338 GMT) the Dow Jones industrial average was down 52.53 points, or 0.29 percent, at 17,778.23, the S&P 500 was down 3.91 points, or 0.19 percent, at 2,071.9 and the Nasdaq Composite was down 0.50 points, or 0.01 percent, at 4,804.79. Stock markets around
  
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• Canadian GDP slips in February after January growth surge

  29-04-2016 15:43 via news.yahoo.com
  
  By Leah Schnurr OTTAWA (Reuters) - The Canadian economy contracted in February after a strong start to the year, as activity in the manufacturing and natural resource sectors declined, suggesting that low energy prices continue to impede growth. Data from Statistics Canada on Friday showed gross domestic product fell 0.1 percent in the month, in line with forecasts, after increasing for four months in a row. "Even with that pullback in GDP this morning that was expected ... with March coming in
  
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• BRIEF-Hi Crush Partners announces pricing of upsized primary offering

  29-04-2016 15:35
  
  * Hi Crush Partners LP announces pricing of upsized primary
  offering of common units
  
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• Nigeria's forex reserves fall 2.68 percent to $27.14 bln in April: cenbank data

  29-04-2016 15:28 via news.yahoo.com
  
  Nigeria's foreign exchange reserves fell by 2.68 percent to $27.14 billion as of April 27 from a month ago, when they were 27.87 billion, central bank data showed on Friday. A plunge in oil prices has eaten into the foreign reserves of Africa's biggest economy, with the central bank adopting fixed exchange rate to protect further depletion of its reserves.
  
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• BRIEF-Medivation board rejects Sanofi's takeover offer

  29-04-2016 15:27
  
  * Medivation's board of directors unanimously rejects
  Sanofi's unsolicited proposal
  
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• BRIEF-FITCH: Bombardier's key Delta order reduces C Series program risk

  29-04-2016 15:24
  
  * Fitch on Bombardier: Bombardier's key Delta order reduces
  C Series program risk
  
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• BRIEF-United Rentals announces proposed offering of $750 mln of senior notes due 2026

  29-04-2016 15:23
  
  * United rentals announces proposed offering of $750 million
  of senior notes due 2026
  
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• Fed's Kaplan says may back June or July rate rise

  29-04-2016 15:22 via news.yahoo.com
  
  Dallas Federal Reserve President Robert Kaplan said on Friday that he could back a rise in U.S. interest rates as soon as June or July, if U.S. economic data firms up as he expects. Kaplan, who does not currently hold a vote on the Federal Open Market Committee, said interest rates should rise gradually but that financial markets had underestimated the Fed's readiness to follow December's rate rise with another move. "We'll see how the second quarter unfolds but I think the market may well be un
  
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• BRIEF-Fitch places Dreamworks Animation on positive watch following sale announcement

  29-04-2016 15:21
  
  * Fitch places Dreamworks Animation on positive watch
  following sale announcement
  
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• Chevron adjusted profit misses expectations

  29-04-2016 15:15 via news.yahoo.com
  
  By Ernest Scheyder HOUSTON (Reuters) - Oil and gas producer Chevron Corp on Friday posted an adjusted profit that fell short of Wall Street's expectations, as its cost cuts failed to fully offset low crude prices and weak refining margins. Like many of its peers, Chevron slashed spending during the quarter in response to low crude prices , but the reductions were not as dramatic as analysts would have liked. Chevron's stock fell 1 percent to $101.50 in premarket Friday trading.
  
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• British financiers Odey, Hargreaves and Marshall say Brexit would help London

  29-04-2016 15:13
  
  LONDON, April 29 (Reuters) - The main campaign group seeking
  to get Britain out of theEuropean Union at a referendum in
  June said more than 100 executives from Britain's financial
  services industry...
  
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• BRIEF-Tuscany qtrly loss per share $0.05

  29-04-2016 15:13
  
  * Tuscany reports financial and operating results for the
  year ended december 31, 2015
  
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• Merkel says EU membership gives Britain economic strength

  29-04-2016 15:07 via news.yahoo.com
  Remaining in the European Union will ensure that Britain remains a prosperous and economically successful country, German Chancellor Angela Merkel said on Friday, adding that a U.S.-EU free trade deal would also bring economic benefits. "One must realistically say which advantages membership of the European Union has and what advantages the Transatlantic Trade and Investment Partnership has, and what is being negotiated now is also clear," Merkel said. Kucinskis said he hoped that a referendum i
  
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• Canada economic activity eased in February as goods sectors fell

  29-04-2016 15:07 via news.yahoo.com
  
  The Canadian economy stalled in February after a strong start to the year, as activity in the manufacturing and natural resource sectors declined, data from Statistics Canada showed on Friday, suggesting that low oil prices continue to impede growth. Gross domestic product fell 0.1 percent in the month, as expected, after increasing for four months in a row. Activity in the manufacturing sector also pulled back after three strong months.
  
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• CORRECTED-U.S. upper Midwest factory growth slows in April

  29-04-2016 15:03
  
  April 29 (Reuters) - A measure of factory activity in the
  U.S. upper Midwest region fell in April but remained in
  expansion territory for a fourth straight month, a private
  survey released on Friday...
  
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• TREASURIES-U.S. bond prices pare losses after March spending data

  29-04-2016 14:50
  
  NEW YORK, April 29 (Reuters) - U.S. Treasury prices trimmed
  earlier losses on Friday as weaker-than-forecast data on
  consumer spending in March supported the notion of a sluggish
  U.S. economic...
  
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• Russian cenbank says may cut key rate at one of next 3 meetings

  29-04-2016 14:50
  
  MOSCOW, April 29 (Reuters) - Russia's central bank may
  consider cutting its key interest rate at one of the next three
  rate setting meetings, the bank's press service told Reuters on
  Friday....
  
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• Shire jumps as Vyvanse drug helps it to beat earnings forecast

  29-04-2016 14:48 via news.yahoo.com
  Strong demand for Shire (Xetra: S7E.DE - news) 's top-selling Vyvanse drug helped to lift first-quarter earnings by a better than expected 12 percent, boosting the London-listed group's shares ahead of its $32 billion acquisition of U.S (Other OTC: UBGXF - news) . Sales of Vyvanse, a treatment for attention deficit hyperactivity disorder (ADHD), rose 22 percent, partly reflecting the drug's recent approval as a treatment for binge eating disorder (BED). "Shire is off to a strong start in 2016,"
  
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• Fed's Kaplan says could hike rates in June or July if data good

  29-04-2016 14:20 via news.yahoo.com
  LONDON (Reuters) - The Federal Reserve could raise U.S. interest rates as soon as June or July if second-quarter economic data is strong, Dallas Federal Reserve President Robert Kaplan said on Friday.
  
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• Political splits threaten Tunisia's economic reform

  29-04-2016 14:17 via news.yahoo.com
  By Tarek Amara TUNIS (Reuters) - Political divisions in Tunisia's ruling coalition risk undermining economic reforms and paralysing the government as it tries to revive the country's post-revolution economy and tackle Islamist militancy. Until recently, compromise between secular and Islamist parties in the governing alliance had helped keep Tunisia's transition on track after the 2011 overthrow of Zine El-Abidine Ben Ali, which inspired uprisings across the Arab world. When lawmakers voted for
  
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