Finance news

• US, European stocks mostly up after weak US job gains

  06-05-2016 23:55 via news.yahoo.com
  
  New York (AFP) - Wall Street stocks finished modestly higher Friday as investors grappled with US jobs data that showed a big drop in hiring in April.
  
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• Trump dips toe into delicate U.S. debt discussion

  06-05-2016 23:47 via news.yahoo.com
  
  By Emily Flitter NEW YORK (Reuters) - Would Donald Trump really consider not paying portions of the U.S. debt? The prospect riled economists on Friday as stories in the New York Times and the conservative website The Blaze cast fresh scrutiny on comments Trump made a day earlier. Responding to a question about the national debt, the likely Republican presidential nominee said in an interview on CNBC on Thursday he would "borrow knowing that if the economy crashed you could make a deal." When ask
  
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• Canada oil output slashed due to Alberta wildfire

  06-05-2016 23:43 via news.yahoo.com
  
  The Alberta forest fire has forced Canadian oil producers to slash output by one million barrels a day, dealing a fresh blow to the oil-dependent economy, analysts said Friday. The immense fire ravaging the area around Fort McMurray, the center of the country's massive oil sands deposits, has sent tens of thousands of workers and their families fleeing and compelled the producers in the region to shut down operations. The production cuts correspond to about a quarter of the country's entire prod
  
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• Canadian dollar falls as job market stalls, wildfire weakens outlook

  06-05-2016 23:36 via news.yahoo.com
  
  By Fergal Smith TORONTO (Reuters) - The Canadian dollar weakened to a two-week low against its U.S. counterpart on Friday as Canada's labor market stalled, while a raging wildfire in Alberta weighed on the country's economic outlook. Canada lost 2,100 jobs in April as the oil-rich province of Alberta shed still more jobs in its natural resources sector. "The details were on the weak side," said Doug Porter, chief economist at BMO Capital Markets, including a another big decline in manufacturing
  
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• Colony Capital in talks to buy NorthStar Asset Management

  06-05-2016 23:30
  
  (Reuters) - Private equity firm Colony Capital Incis in talks to buy commercial real estate manager NorthStar Asset Management Group Inc , the companies said.
  
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• BRIEF-Aeropostale says bankruptcy court approved to draw $100 mln

  06-05-2016 23:30
  
  * On may 5, 2016, bankruptcy court granted approval to
  company to draw $100 million in interim financing from dip
  financing - sec filing
  
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• EPA chief says carbon rule not killing coal country

  06-05-2016 23:18 via news.yahoo.com
  
  By Valerie Volcovici WASHINGTON (Reuters) - The top U.S. environmental regulator said Friday that federal rules to curb power plant pollution are not the cause of the economic decline of coal country after presidential candidates confronted anger on the campaign trail this week from laid-off West Virginia miners. It is saying it louder and clearer everyday," U.S. Environmental Protection Agency Administrator Gina McCarthy said at a Climate Action summit in Washington. McCarthy spoke at the end o
  
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• Wall Street ends up after jobs report; S&P down for second week

  06-05-2016 23:11 via news.yahoo.com
  
  By Caroline Valetkevitch (Reuters) - U.S. stocks rebounded from early losses to close higher on Friday as investors viewed the day's jobs data as less disappointing than first thought. Materials, industrials and discretionary shares were among the day's biggest gainers, with the S&P materials index up 0.8 percent and gold gaining for the day. In the Labor Department report, nonfarm payrolls increased less than economists expected, and April's job gains were the smallest since September. ...
  
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• Wall St. ends up after jobs report; S&P down for second week

  06-05-2016 23:11 via news.yahoo.com
  
  Most now see the U.S. central bank's next rate hike coming in September. The Dow Jones industrial average ended up 79.92 points, or 0.45 percent, to 17,740.63, the S&P 500 gained 6.51 points, or 0.32 percent, to 2,057.14 and the Nasdaq Composite added 19.06 points, or 0.4 percent, to 4,736.16. The Dow and S&P 500 posted a second straight week of losses, their first two weeks of declines since February, while the Nasdaq registered a third straight week of losses.
  
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• PAI to buy drugmaker Ethypharm from Astorg for about $855 million: sources

  06-05-2016 22:59
  
  LONDON (Reuters) - European private equity fund PAI Partners is to buy French drugmaker Ethypharm for about 750 million euros ($855 million) from fellow private equity firm Astorg, two sources with...
  
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• Ferro Corp taps Lazard to explore sale: sources

  06-05-2016 22:41
  
  NEW YORK (Reuters) - Specialty chemicals company Ferro Corp, which makes glass-based coatings, pigments and polishing materials, has hired investment bank Lazard Ltd to explore a sale, people...
  
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• Wall Street ends up after jobs report; S&P down for week

  06-05-2016 22:40 via news.yahoo.com
  
  U.S. stocks rebounded from early losses to close higher on Friday as investors viewed the day's jobs data as less disappointing than first thought. Materials, industrials and discretionary shares were among the day's biggest gainers, with the S&P materials up 0.8 percent and gold gaining for the day. "I know there was a knee-jerk reaction where the equity market went down, but it didn't take long for cooler headers to prevail and recognise this is still a reasonably good number," said Eric K
  
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• Wall St. ends up after jobs report; S&P down for week

  06-05-2016 22:40 via news.yahoo.com
  
  Materials, industrials and discretionary shares were among the day's biggest gainers, with the S&P materials up 0.8 percent and gold gaining for the day. "I know there was a knee-jerk reaction where the equity market went down, but it didn't take long for cooler headers to prevail and recognize this is still a reasonably good number," said Eric Kuby, chief investment officer, North Star Investment Management Corp in Chicago. Most now see the U.S. central bank's next rate hike coming in Septe
  
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• Wall Street Week Ahead - If trend stands, consumer stocks to boost market

  06-05-2016 22:37 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - The U.S. stock market could get a shot in the arm next week as consumer-facing companies report earnings in a season in which the sector has so far been the overachiever. First-quarter earnings are winding down and the consumer discretionary components of the S&P 500 are the only sector showing double-digit earnings growth from a year ago. Following year-end holidays, the first quarter is not typically a good one for consumer spending.
  
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• Hiring slowdown in April may signal caution about US economy

  06-05-2016 22:19 via news.yahoo.com
  
  WASHINGTON (AP) — American employers signaled their caution about a sluggish economy by slowing their pace of hiring in April after months of robust job growth.
  
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• Wall Street gives up on June rate hike by Fed after payrolls disappoint - Reuters poll

  06-05-2016 22:17 via news.yahoo.com
  
  By Dion Rabouin NEW YORK (Reuters) - Wall Street's top banks have all but abandoned any expectation that the Federal Reserve will raise interest rates in June, and most now see the U.S. central bank's next rate hike coming in September, according to a Reuters survey conducted on Friday. Friday's weaker-than-expected payrolls report for April acted as the catalyst for several economists at primary dealers to back away from their previous predictions for an interest rate increase at the Fed's next
  
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• FCC confirms approval of Charter, Time Warner Cable merger

  06-05-2016 22:15
  
  WASHINGTON (Reuters) - The U.S. Federal Communications Commission confirmed on Friday that it had voted to approve Charter Communications Inc's acquisitions of Time Warner Cable Inc and Bright House...
  
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• Traders on edge as Staples-Office Depot deal decision looms

  06-05-2016 22:09
  
  NEW YORK (Reuters) - Options traders are bracing for wild gyrations in the shares of Staples Inc and Office Depot Inc as the companies await a ruling that could scuttle their pending merger.
  
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• Wall Street rebounds to close higher after jobs report

  06-05-2016 22:05 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks rebounded from early losses to close higher on Friday as investors viewed the day's jobs report as less disappointing than first thought.
  
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• Wall Street gives up on June rate hike by Fed after payrolls disappoint - poll

  06-05-2016 21:53 via news.yahoo.com
  
  By Dion Rabouin NEW YORK (Reuters) - Wall Street's top banks have all but abandoned any expectation that the Federal Reserve will raise interest rates in June, and most now see the U.S. central bank's next rate hike coming in September, according to a Reuters survey conducted on Friday. Friday's weaker-than-expected payrolls report for April acted as the catalyst for several economists at primary dealers to back away from their previous predictions for an interest rate increase at the Fed's next
  
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• Oil up on Canada wildfire, dollar; big weekly loss for Brent

  06-05-2016 21:24 via news.yahoo.com
  
  Oil prices edged up on Friday, supported by an early dip in the dollar and a wildfire that has shrunk Canadian oil sands crude output by a third, but Brent still ended with its sharpest weekly drop in four months as investors cashed out of April's big rally. The dollar dipped after the U.S. government reported that the economy added the fewest number of jobs in seven months in April, raising doubts about whether the Federal Reserve will raise interest rates before the end of the year. Brent crud
  
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• Wall Street reverses to trade up; S&P still down for week

  06-05-2016 21:06 via news.yahoo.com
  
  At 2:43 p.m., the Dow Jones industrial average was up 80.4 points, or 0.46 percent, to 17,741.11, the S&P 500 had gained 6.37 points, or 0.31 percent, to 2,057 and the Nasdaq Composite had added 13.89 points, or 0.29 percent, to 4,730.98. Mixed economic data and slowing global growth have weakened investors' appetite for risk, with the S&P 500 down slightly on the week.
  
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• Goldman Lands Kilsby As First Female Director

  06-05-2016 20:59 via news.yahoo.com
  
  The London-based operation of Goldman Sachs (NYSE: GS-PB - news) has appointed its first female directors amid an intensifying Government-backed push to tackle the City's stark gender imbalance. Sky News has learnt that Goldman Sachs International (GSI) has recruited Susan Kilsby, a former investment banker who chairs the FTSE-100 pharmaceuticals group Shire (Xetra: S7E.DE - news) , as a non-executive director. Isabelle Ealet, global-co-head of the Wall Street bank’s securities division, h
  
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• Evonik to buy specialty chemical ops from Air Products for $3.8 billion

  06-05-2016 20:52
  
  FRANKFURT (Reuters) - Germany's Evonik Industries AG will buy the specialty and coating additives operations of U.S. industrial gas producer Air Products and Chemicals Inc for $3.8 billion.
  
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• Exclusive: EDF among bidders for stake in Galp's gas distribution unit - sources

  06-05-2016 20:50
  
  MADRID/LONDON (Reuters) - Portugal's Galp Energia has asked EDF's investment arm and other infrastructure funds to submit tentative bids for a stake in its gas distribution business, four sources...
  
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• Stock market shakes off an early loss and turns higher

  06-05-2016 20:48 via news.yahoo.com
  
  NEW YORK (AP) — Stocks were turning modestly higher in afternoon trading Friday, after the U.S. government's disappointing jobs report added to speculation that the Federal Reserve might keep interest rates low for another year. Investors were also weighing tepid U.S. earnings reports and persistent weakness in the global economy.
  
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• A Trump proposal for national debt would send rates soaring

  06-05-2016 20:44 via news.yahoo.com
  
  WASHINGTON (AP) — In the event that the U.S. economy crashed, Donald Trump has floated a recovery plan based on his own experience with corporate bankruptcy: Pay America's creditors less than full value on the U.S. Treasurys they hold.
  
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• S and P upgrades Turkey outlook despite political instability

  06-05-2016 20:16 via news.yahoo.com
  
  Standard and Poor's upgraded its outlook for Turkey's credit rating on Friday, judging the prospects for the nation's economy to be stable despite political instability that may dampen growth and reform plans. The end to the negative outlook on the BB+ foreign currency rating, one rung below an investment grade, came a day after President Recep Tayyip Erdogan's plans to consolidate power advanced with the resignation of Ahmet Davutoglu as prime minister. "The stable outlook reflects our expectat
  
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• Obama: new tax rule will fight corruption, help economy

  06-05-2016 19:20 via news.yahoo.com
  
  U.S. President Barack Obama said on Friday a long-delayed rule requiring the financial industry to identify the real owners of companies will help fight corruption and tax evasion and boost the global economy. "These actions are going to make a difference," Obama told reporters. "That's going to help law enforcement better investigate and prevent financial crimes," Obama told reporters Obama also urged Congress to raise the federal minimum wage, pass new trade agreements, and simplify the tax co
  
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• Cigna says Anthem deal could close in 2017; Anthem sticks to 2016

  06-05-2016 19:06
  
  NEW YORK (Reuters) - Health insurer Cigna Corp , which announced plans to be bought by larger Anthem Inc10 months ago, on Friday said the deal may close in 2017 rather than 2016 due to the...
  
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• Wall St. falls after disappointing jobs data

  06-05-2016 18:56 via news.yahoo.com
  
  The U.S. economy grew just 0.5 percent last quarter on an annualized basis and inflation has been below the Fed's 2 percent target for years. "The Fed is not going to change its policy statement in June at all. Traders virtually priced out an interest rate increase at the Fed's June 14-15 meeting, according to CME Group's FedWatch.
  
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• Kazakh president completes reshuffle in response to protests

  06-05-2016 18:50 via news.yahoo.com
  
  Kazakh President Nursultan Nazarbayev, facing opposition calls for a demonstration in the business center Almaty, completed a government reshuffle initiated this week in response to street protests against farmland privatization plans. Economy minister Yerbolat Dosayev and agriculture minister Asylzhan Mamytbekov, whose ministries were behind the planned land reform, both resigned after Nazarbayev who has run the Central Asian nation since 1989 reprimanded them for failing to adequately explain
  
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• Clinton more likely to win U.S. presidency than Trump - PredictIt

  06-05-2016 18:42 via news.yahoo.com
  By Anjali Athavaley NEW YORK (Reuters) - Democratic front-runner Hillary Clinton has a higher probability than her likely Republican rival Donald Trump of becoming the next U.S. president, but the gap between the pair narrowed this week, according to the online political stock market PredictIt. Clinton's probability on Friday was 61 percent, down from 65 percent seven days ago, according to the site, which allows users to wager small amounts of money on "yes" or "no" predictions of future events
  
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• Obama says global economy not growing as fast as it should be

  06-05-2016 18:34 via news.yahoo.com
  
  President Barack Obama urged Congress on Friday to take actions that would help the U.S. economy, including raising the federal minimum wage, passing new trade agreements and simplifying the tax code. "Only Congress can fully close the loopholes" that wealthy individuals or corporations can take advantage of, Obama said in a statement. Obama said new U.S. regulations announced on Friday on requiring the financial industry to identify the real owners of companies "are going to make a difference."
  
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• Downbeat US jobs data only dents stock markets

  06-05-2016 18:11 via news.yahoo.com
  
  A sharp slowdown in hiring in the United States sent stocks slumping Friday, but just briefly, as it raised concerns for the economic and interest rate outlook in the world's top economy. European stocks also took a knock from the release of the nonfarm payroll data from the US Labor Department, but in the final minutes of trading values recovered. "US equities are lower in early action following a disappointing April nonfarm payroll report, which has the Street grappling with how the Fed will r
  
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• Job market slowdown, rising wages may fit Fed's playbook

  06-05-2016 18:08 via news.yahoo.com
  
  A slowdown in U.S. hiring coupled with a jump in wages last month dovetails with what the Federal Reserve expected as the economy approaches full employment and is not likely to alter its interest rate hike trajectory. The Labor Department reported on Friday that 160,000 jobs were added in April, short of the 215,000 expected by economists and below the recent monthly average of 200,000, tempering hopes of a strong economic rebound in the second quarter. Although not a few investors viewed the r
  
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• Gold miners bring back some shine to Britain's FTSE

  06-05-2016 18:07
  
  LONDON, May 6 (Reuters) - Britain's top share index closed
  marginally higher on Friday, with the market recovering from
  earlier losses as shares in miners Randgold and
  Fresnillo climbed thanks to a...
  
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• South Africa faces tough economic environment:IMF

  06-05-2016 17:48 via news.yahoo.com
  
  South Africa faces a challenging economic environment, with growth in 2016 seen at 0.6 percent, entailing falling per-capita income, the International Monetary Fund said on Friday. Risks to the outlook were however tilted to the downside, including further shocks from China, a key consumer of South African commodities, and possible credit rating downgrades. Africa's most developed, but stuttering economy faces the danger of ratings cuts from agencies worried that Pretoria might not stay on a thr
  
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• Intesa SanPaolo earnings slide on weaker trading, charges

  06-05-2016 17:47 via news.yahoo.com
  MILAN (AP) — The CEO of Italy's second-largest bank, Intesa SanPaolo, said Friday that its contribution to a fund supporting weaker lenders in the country will be capped at the 845 million euros ($966 million) already pledged.
  
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• Shares fall after U.S. jobs data; short-dated U.S. yields fall

  06-05-2016 17:46 via news.yahoo.com
  
  NEW YORK (Reuters) - Stock markets worldwide dipped on Friday after April U.S. employment data showed the fewest jobs added in seven months, adding to concerns over economic growth, while short-dated Treasury yields sank.
  
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• U.S. GDP seen growing 0.8 percent in second quarter: N.Y. Fed

  06-05-2016 17:37 via news.yahoo.com
  
  The U.S. economy is on track to expand at an annualized rate of 0.8 percent in the second quarter, unchanged from its estimate a week earlier, following this week's spate of domestic economic data, the New York Federal Reserve said on Friday. On balance, the latest figures on trade balance, business activities and spending "had a minimal net effect" the regional Fed's forecast on the gross domestic product in the second quarter, it said on its website.
  
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• South African firms bet on coffee and doughnuts despite slowdown

  06-05-2016 17:34 via news.yahoo.com
  
  By TJ Strydom JOHANNESBURG (Reuters) - A fortnight after the first Starbucks in South Africa opened in a trendy Johannesburg district, queues still snaked onto the pavement, a sign of the craving for international brands despite an economic slowdown. South African companies Taste Holdings and Grand Parade Investments are betting that demand for relative luxuries such as coffee to go and doughnuts from international chains will endure, even as disposable incomes are squeezed. "I'm not saying I'll
  
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• Nigeria's Buhari signs delayed 2016 record budget into law

  06-05-2016 17:24 via news.yahoo.com
  
  By Felix Onuah ABUJA (Reuters) - Nigeria's President Muhammadu Buhari signed the delayed 2016 budget into law on Friday, ending weeks of wrangling with lawmakers and tripling capital expenditure as Africa's biggest economy contends with its worst crisis in years. The 6.06 trillion naira ($30.6 billion) budget is an attempt by Africa's top oil exporter to stimulate an economy hammered by the fall in crude oil prices. The budget assumes oil production of 2.2 million barrels per day at 38 dollars a
  
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• Obama to deliver statement on the economy: White House

  06-05-2016 17:03 via news.yahoo.com
  
  WASHINGTON (Reuters) - President Barack Obama on Friday will deliver a statement "on the economy and new steps to strengthen financial transparency and combat money laundering, corruption, and tax evasion," the White House said. Obama is scheduled to make the remarks at 12:05 EDT (1605 GMT) at the White House, it said in a statement. (Reporting by Susan Heavey)
  
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• Wall Street falls after disappointing jobs data

  06-05-2016 17:01 via news.yahoo.com
  
  The U.S. economy grew just 0.5 percent last quarter on an annualized basis and inflation has been below the Fed's 2 percent target for years. "For those who had thought a June rate hike was in play, this was a nail in coffin," said Phil Orlando, chief equity market strategist at Federated Investors in New York. "The Fed is not going to change its policy statement in June at all.
  
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• All eyes on Deutsche's sub debt return

  06-05-2016 16:52
  
  LONDON, May 6 (IFR) - Deutsche Bank is hoping to sell its
  first subordinated bond issue of 2016 next week, providing what
  will be the first test of investor appetite for its riskier
  bonds since a...
  
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• Stocks slip as jobs report shows hiring slowdown

  06-05-2016 16:09 via news.yahoo.com
  
  NEW YORK (AP) — Stocks were slightly lower in early trading Friday after a report on the U.S. economy showed a significant slowdown in hiring last month, echoing weakness seen earlier in the week in Europe and Asia.
  
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• Downbeat US jobs data beats down world stocks

  06-05-2016 16:07 via news.yahoo.com
  
  A sharp slowdown in hiring in the United States sent stocks slumping as it raised concerns for the economic outlook and the perspectives for interest rates in the world's top economy. Wall Steet opened on the downside following data showing the US economy added just 160,000 net new jobs in April, the lowest level this year, with the Dow sliding 0.4 percent. European stocks, which had been trading lower ahead of the release of the nonfarm payroll data from the US Labor Department, dipped further
  
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• Weaker commodities stocks push FTSE to 8-week low

  06-05-2016 15:47
  
  LONDON, May 6 (Reuters) - Britain's top share index dropped
  to an eight-week low on Friday, with satellite firm Inmarsat
  slipping on a raft of broker downgrades and
  commodities-related stocks...
  
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• Wall Street opens lower after weak April jobs report

  06-05-2016 15:45 via news.yahoo.com
  
  Nonfarm payrolls increased by 160,000 jobs last month, far below the 202,000 economists polled by Reuters had forecast on average. The data cast doubts on whether the Federal Reserve will raise interest rates before the end of the year. The U.S. economy grew just 0.5 percent last quarter on an annualized basis and inflation has been below the Fed's 2 percent target for years.
  
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