Finance news

• Eurozone shares lifted by Greek bailout progress, German data

  09-05-2016 23:43 via news.yahoo.com
  
  Eurozone stock markets pushed higher on Monday after Greek lawmakers adopted further austerity measures to move their bailout forward and German factory orders bested expectations.
  
  Read more

• BRIEF-Chaparral Energy files for chapter 11 protection

  09-05-2016 23:40
  
  * Objective of reducing its bondholder debt by approximately
  $1.2 billion
  
  Read more

• Bank of Canada to discuss wildfire impact on May 25; says too soon now

  09-05-2016 23:32 via news.yahoo.com
  
  By Leah Schnurr and Fergal Smith OTTAWA/TORONTO (Reuters) - It is too early to assess precisely the economic impact of the Alberta wildfire, the Bank of Canada said on Monday, adding that it will have more to say in its interest rate decision later this month. "Bank of Canada staff are closely analyzing these still-unfolding events, and we will have more to say on 25 May, and subsequently in the July MPR (Monetary Policy Report)," said spokeswoman Rebecca Ryall. The quarterly MPR provides the ce
  
  Read more

• Study: Sanders' economic plan piles $18T on federal debt

  09-05-2016 23:11 via news.yahoo.com
  
  WASHINGTON (AP) — Sen. Bernie Sanders' tax and spending proposals would provide new levels of health and education benefits for American families, but they'd also blow an $18-trillion hole in federal deficits, piling on so much debt they would damage the economy.
  
  Read more

• Advertisement

• Bank of Canada: Too early to tell economic impact of wildfire

  09-05-2016 23:08 via news.yahoo.com
  
  It is too early to assess precisely the economic impact of the wildfire in Alberta, the Bank of Canada said on Monday, adding that it will have more to say in its interest rate decision later this month. "Bank of Canada staff are closely analyzing these still-unfolding events, and we will have more to say on 25 May, and subsequently in the July MPR," said Rebecca Ryall, spokeswoman at the bank, referring to the central bank's Monetary Policy Report, which provides updated economic forecasts.
  
  Read more

• Higher health stocks and falling oil leave S&P 500 flat

  09-05-2016 22:49 via news.yahoo.com
  
  (Reuters) - Wall Street ended mixed on Monday after a rally in Allergan Plc and other healthcare companies offset a decline in energy shares.
  
  Read more

• UPDATE 1-Weak demand for Banana Republic, Old Navy weighs on Gap's results

  09-05-2016 22:44
  
  May 9 (Reuters) - Apparel retailer Gap Inc reported
  lower-than-expected quarterly sales at established stores, hurt
  by weak demand for its Banana Republic and Old Navy brands.
  
  Read more

• UPDATE 1-NewLink's pancreatic cancer therapy fails late-stage study

  09-05-2016 22:35
  
  May 9 (Reuters) - NewLink Genetics Corp said on
  Monday its experimental pancreatic cancer immunotherapy did not
  meet the main goal in a late-stage study, sending its shares
  tumbling 36 percent in...
  
  Read more

• Advertisement

• Yen dented after Tokyo warning; oil prices slump

  09-05-2016 22:29 via news.yahoo.com
  
  The yen tumbled against the U.S. dollar on Monday as Japan signaled it was ready to intervene in the currency market, while a sharp drop in oil prices undercut equities. Europe's broad stock index gained, supported by a 1.1 percent rise for Germany's DAX index on positive news for the country's economy. China's exports and imports fell more than expected in April, underlining weak demand at home and abroad and weighing on materials stocks as well as copper prices.
  
  Read more

• Apparel retailer Gap's quarterly sales fall 6 percent

  09-05-2016 22:20
  
  May 9 (Reuters) - Apparel retailer Gap Inc reported
  a 6 percent fall in quarterly sales, hurt by weak demand for its
  Banana Republic and Old Navy brands.
  
  Read more

• UPDATE 4-Redstone competence trial ends as judge tosses lawsuit

  09-05-2016 22:01
  
  LOS ANGELES, May 9 (Reuters) - Media mogul Sumner Redstone
  never set foot in the Los Angeles courtroom where his mental
  competency was on trial in recent days.
  
  Read more

• Germany's JAB to take Krispy Kreme private for $1.35 billion

  09-05-2016 21:35
  
  (Reuters) - Krispy Kreme Doughnuts Incagreed to be taken private by JAB Holding Co for about $1.35 billion as Germany's Reimann family continues to build up its global coffee empire.
  
  Read more

• Global retail and consumer sector deals less pricey in 2016: report

  09-05-2016 21:29
  
  CHICAGO (Reuters) - Mergers and acquisitions in the global consumer and retail sectors in 2016 are likely to be characterized by lower valuations for small firms and reasonable values for riskier...
  
  Read more

• Wall Street mixed as energy falls, Allergan rallies

  09-05-2016 21:12 via news.yahoo.com
  
  (Reuters) - Wall Street was mixed on Monday, with declines in energy and materials stocks offset by a bounce in Allergan Plc and other healthcare companies.
  
  Read more

• UPDATE 3-Lending Club CEO resigns after internal probe, shares plummet

  09-05-2016 20:41
  
  May 9 (Reuters) - Renaud Laplanche, founder and chief
  executive of online lender Lending Club Corp, resigned
  after an internal probe found that the company had knowingly
  sold an investor $22 million...
  
  Read more

• Fed's Kashkari says rise in inflation will trigger rate hike

  09-05-2016 20:30 via news.yahoo.com
  MINNEAPOLIS (Reuters) - The Federal Reserve should raise U.S. interest rates before inflation reaches the Fed's 2-percent goal, given the lags with which monetary policy affect the economy, a top U.S. central banker said on Monday.
  
  Read more

• Exclusive: Medivation succumbs to pressure to explore sale - sources

  09-05-2016 20:15
  
  (Reuters) - U.S. cancer drug maker Medivation Inchas decided to explore a sale following a $9.3 billion acquisition offer from France's Sanofi SAand interest from other companies, people familiar...
  
  Read more

• Convergence between eastern and western Europe fraying as EBRD leaders meet

  09-05-2016 20:00 via news.yahoo.com
  
  By Marc Jones LONDON (Reuters) - Twenty-five years after the European Bank for Reconstruction and Development was set up to integrate ex-Soviet bloc states into the world economy, the EBRD is finding its core region pulled apart by a wave of anti-establishment, anti-migrant sentiment. The bank, which has invested around 100 billion euros ($113.89 billion) since its creation in 1991, holds its annual meeting this week at a time of increasingly fenced-off European borders, sluggish economies, a po
  
  Read more

• Health stocks help Wall Street limit losses as energy drags

  09-05-2016 18:35 via news.yahoo.com
  
  (Reuters) - Wall Street was little changed in late morning trading on Monday as a bounce in healthcare shares struggled to offset declines in energy and materials stocks.
  
  Read more

• CORRECTED: Health stocks help Wall St limit losses as energy drags

  09-05-2016 18:35 via news.yahoo.com
  
  (Corrects to Monday from Friday in first paragraph) By Yashaswini Swamynathan REUTERS - Wall Street was little changed in late morning trading on Monday as a bounce in healthcare shares struggled to offset declines in energy and materials stocks. A bigger-than-expected drop in China's imports and exports in April pointed to weak demand in the world's second-biggest economy and weighed on materials stocks. "It seems like the shadow of higher rates and weakening economy doesn't help stocks and tha
  
  Read more

• Greece shines on eurozone stocks, iron hammers London

  09-05-2016 18:26 via news.yahoo.com
  
  London (AFP) - Eurozone stock markets pushed higher on Monday after Greek lawmakers adopted further austerity measures, while falling commodity prices tripped up London.
  
  Read more

• Cinven to sell German lighting group SLV in potential 800 million euro deal: sources

  09-05-2016 18:14
  
  FRANKFURT (Reuters) - Buyout group Cinven [CINV.UL] is preparing to sell German residential and technical lighting products maker SLV in a potential 800 million euro ($911 million) deal, three people...
  
  Read more

• UPDATE 2-Healthcare REIT HCP to spin off troubled HCR ManorCare unit

  09-05-2016 18:06
  
  * HCP shares rise as much as 6.8 pct(Adds details, background)
  
  Read more

• Markets Right Now: Stocks are mixed on Wall Street

  09-05-2016 18:03 via news.yahoo.com
  
  NEW YORK (AP) — The Latest on Financial Markets (all times local):
  
  Read more

• Britain's FTSE ends lower as mining stocks slump

  09-05-2016 18:01
  
  LONDON, May 9 (Reuters) - Britain's top share index closed
  lower on Monday, extending its biggest weekly drop since
  February, as a slump in mining stocks outweighed a rally in
  travel and leisure...
  
  Read more

• Fed's Kashkari says accommodative policy needed to bring workers back

  09-05-2016 17:45 via news.yahoo.com
  While a rate hike in June is "possible," Kashkari sounded happy to keep rates low for now in order to continue bringing workers who have not worked in months or years back into the labor force. "To me, just looking at the raw data, it says we should be accommodative, and I think we have this other societal need that we should be accommodative, because if we can keep people from being lost permanently, boy that’s a real positive for society," Kashkari said in an interview in his bank's cafe
  
  Read more

• Tata Steel takes 7 potential bids for UK assets to next stage of sale process

  09-05-2016 17:38
  
  LONDON (Reuters) - Tata Steel Europe said on Monday that seven expressions of interest for its British operations had been taken forward to the next stage of the sale process.
  
  Read more

• UPDATE 3-JD.com slower revenue growth forecast hits shares

  09-05-2016 17:14
  
  BENGALURU/BEIJING May 9 (Reuters) - Chinese online retailer
  JD.com forecast slower revenue growth for the second
  quarter on Monday, sending its shares tumbling more than 9
  percent even though its...
  
  Read more

• UPDATE 2-Tyson Foods beefs up profit forecast on strong cattle supply

  09-05-2016 17:13
  
  * Shares touch record high of $70.44(Adds detail from conf call, updates shares)
  
  Read more

• Business software company Talend hires banks for IPO: sources

  09-05-2016 17:12
  
  (Reuters) - Talend Inc, a U.S. software firm that helps corporations organize and analyze data, has hired investment banks for an initial public offering (IPO) in the coming months, people familiar...
  
  Read more

• Philippines' Duterte calls for summit to solve South China Sea spat

  09-05-2016 17:06 via news.yahoo.com
  
  By Neil Jerome Morales DAVAO, Philippines (Reuters) - The presumptive winner of the Philippine election on Monday said that if he became president he would settle rows over the South China Sea with multilateral talks that would include allies the United States, Japan and Australia as well as claimant nations. Rodrigo Duterte, the tough-talking mayor of Davao City, said China should respect the 200 nautical mile Exclusive Economic Zone granted to coastal states under international law and should
  
  Read more

• Britain's FTSE share index falls as mining stocks slump

  09-05-2016 16:46
  
  LONDON, May 9 (Reuters) - Britain's top share index fell on
  Monday, extending its biggest weekly drop since February, as a
  decline in mining stocks outweighed a rally in travel and
  leisure stocks.
  
  Read more

• Bank of Canada should mull rate cut again if needed: IMF report

  09-05-2016 16:32 via news.yahoo.com
  
  The Bank of Canada should be ready to cut interest rates again if growth falters, though the economy looks set for a modest recovery from the oil price shock in the near term, a report from the International Monetary Fund said on Monday. In an annual assessment of Canada's economy, IMF staff said that the Bank of Canada's decision to cut rates last year, along with the depreciation of the Canadian dollar, have helped to cushion the effects of cheaper oil, which is a major export for Canada. The
  
  Read more

• As Argentine corruption probe grows, Macri allies feel the heat

  09-05-2016 16:20 via news.yahoo.com
  
  By Nicolás Misculin BUENOS AIRES (Reuters) - A judicial probe of possible corruption during Argentina's last government is also threatening the new administration as some of President Mauricio Macri's own allies face investigation. Macri, a center-rightist, took over as president in December from outgoing leftist Cristina Fernandez, pledging to root out corruption as well as implement sweeping market-friendly economic reforms. Investigations have already led to the arrest of a Fernandez a
  
  Read more

• Wall Street opens flat as oil prices surrender gains

  09-05-2016 16:04 via news.yahoo.com
  
  (Reuters) - Wall Street was little changed on Monday after Friday's lackluster U.S. jobs report suggested the Federal Reserve will raise rates just once this year, while cautious investors allowed for only a short-lived rally in oil prices.
  
  Read more

• Tribune Publishing adopts poison pill to stop Gannett bid

  09-05-2016 15:54
  
  (Reuters) - Newspaper publisher Tribune Publishing Cosaid its board had adopted a shareholder rights plan - popularly known as a "poison pill" - in a bid to thwart Gannett Co Inc'sunsolicited...
  
  Read more

• South Africa's unemployment gloom mars ratings progress

  09-05-2016 15:23 via news.yahoo.com
  
  By Stella Mapenzauswa JOHANNESBURG (Reuters) - South African unemployment reached the highest level on record, official data showed on Monday, clouding the finance minister's efforts to convince Standard and Poor's and Fitch not to downgrade the country's credit rating. After a decision by Moody's late on Friday to keep its rating on South Africa steady, Finance Minister Pravin Gordhan said he aimed to show its fellow agencies that the country was on the right economic track ahead of their own r
  
  Read more

• Euro zone tentatively looks at helping Greece on debt after Athens passes painful reforms

  09-05-2016 15:16 via news.yahoo.com
  By Jan Strupczewski and Renee Maltezou BRUSSELS/ATHENS (Reuters) - The euro zone was to turn its attention tentatively on Monday to helping Greece deal with its massive debt repayments, a few hours after lawmakers in Athens passed unpopular pension and tax reforms one critic called "a tombstone for growth". Officials in Brussels said the Eurogroup of euro zone finance ministers would start talks -- preliminary only -- on a potential reprofiling of Greek debt to make future servicing costs manage
  
  Read more

• Philippines' Duterte says would seek multilateral South China Sea talks

  09-05-2016 15:14 via news.yahoo.com
  
  DAVAO, Philippines (Reuters) - Rodrigo Duterte said on Monday that if he became Philippine president he would call for multilateral talks to resolve disputes over the South China Sea, which should include the United States and Japan as well as rival claimants. Duterte also said China should respect the Philippines' exclusive economic zone in the waters off its coast and, instead of facing off, the two countries could work together in exploiting offshore oil and gas as joint-venture partners. "If
  
  Read more

• Wall Street set to open higher, interest rates in focus

  09-05-2016 15:07 via news.yahoo.com
  
  In the two weeks to Friday, mixed economic data and uncertainty about the path of future interest rate hikes had put a dampener on a stock market rally that had seen the S&P gain about 15 percent from its February lows. A Reuters survey following the jobs report showed that Wall Street's top banks have all but written off the chance of a June rate increase. "While the fundamentals for U.S. growth continue to be good, uncertainty and risks remain," Charles Evans, president of the Bank of Chic
  
  Read more

• Saudi jewellery maker L'azurde gets regulator nod for listing - statement

  09-05-2016 14:41 via news.yahoo.com
  DUBAI, May 9 (Reuters) - Saudi Arabian gold and jewellery maker L'azurde will sell 30 percent of its shares in an initial public offering on the kingdom's bourse, the country's stock market regulator said on Monday. Retail investors will be able to subscribe for shares between June 5 to 13, after a bookbuilding process for institutional investors is completed, the regulator said. (Reporting by Hadeel Al Sayegh; Editing by David French)
  
  Read more

• European markets shrug off weak Chinese trade data

  09-05-2016 14:32 via news.yahoo.com
  
  LONDON (AP) — European stock markets brushed aside soft Chinese trade figures to register big gains Monday as investors think that last week's weaker than anticipated U.S. jobs report means the Federal Reserve is less likely to raise interest rates next month.
  
  Read more

• Oil gains, German orders help stocks recover

  09-05-2016 14:23 via news.yahoo.com
  
  By Patrick Graham LONDON (Reuters) - European stock markets bounced back from their worst week since early February with a more than 1 percent gain on Monday, a rise in oil prices and strong economic numbers from Germany outweighing worries over China. The dollar, struggling since a disappointing set of U.S. jobs numbers on Friday, jumped to its highest in 10 days against the yen after Japan's finance minister said outright that Tokyo was ready to intervene if currency moves hurt the economy. ..
  
  Read more

• South Africa's finmin says to talk with Fitch, S&P soon over credit rating

  09-05-2016 14:11 via news.yahoo.com
  
  By Stella Mapenzauswa JOHANNESBURG (Reuters) - South Africa will seek to convince Fitch and Standard and Poor's that the country is on the right economic track after fellow ratings agency Moody's decided not to downgrade its own rating, Finance Minister Pravin Gordhan said on Monday. Southern Africa's biggest economy won some breathing space ahead of interactions with Fitch and S&P in the next couple of weeks after Moody's on Friday said the country was "likely approaching a turning point af
  
  Read more

• Deutsche Bank settles unfair dismissal case with Shivani Mathur

  09-05-2016 14:04 via news.yahoo.com
  
  By Anjuli Davies LONDON (Reuters) - Deutsche Bank has agreed to settle an alleged sex discrimination and unfair dismissal case brought by a former senior employee who was fired in the wake of the Libor-rigging scandal. Shivani Mathur, who was Deutsche's London-based global head of economic resources, was suing the bank for sex discrimination, unfair dismissal, unequal pay and suffering detriment after whistleblowing, according to court documents filed in January. The bank previously said it was
  
  Read more

• Greece passes painful fiscal reforms, heeding EU

  09-05-2016 13:44 via news.yahoo.com
  
  By George Georgiopoulos and Renee Maltezou ATHENS (Reuters) - Greek lawmakers passed unpopular pension and tax reforms on Monday that a European official said marked a major advance in negotiations towards unlocking more rescue funds from the country's creditors. Euro zone finance ministers will hold talks on Greece's progress on economic and fiscal reforms later in the day, and assess if it has met terms of its multi-billion euro bailout. Greece also hopes the sign-off will launch discussions o
  
  Read more

• Fed's Evans favors 'wait and see' on more rate hikes

  09-05-2016 13:31 via news.yahoo.com
  
  The U.S. economy's fundamentals are solid and growth this year should pick up to around 2.5 percent, but the Federal Reserve's current 'wait and see' approach to monetary policy is appropriate, a Fed policymaker said on Monday. Charles Evans, president of the Chicago Fed, also said he would welcome a temporary overshoot in inflation to lift consumer price growth up to the Fed's longer-term target of 2 percent and raise overall inflation expectations from current low levels. In my opinion, the co
  
  Read more

• Euro zone finance ministers to start talks on Greek debt reprofiling: EU officials

  09-05-2016 13:15 via news.yahoo.com
  BRUSSELS (Reuters) - Euro zone finance ministers will start talks on Monday on how to reprofile Greek debt to make future annual servicing costs manageable for Athens despite opposition from Germany, which does not believe any relief is needed, euro zone officials said. The International Monetary Fund believes that Athens must get debt relief for its economy to develop and wants the discussions to focus on capping Greece's annual debt servicing costs at around 15 percent of GDP or less. ...
  
  Read more

• Vodacom pulls plug on mobile money service M-Pesa in South Africa

  09-05-2016 12:54 via news.yahoo.com
  
  Vodacom will discontinue its mobile money service M-Pesa in South Africa after it failed to attract enough support in its slow-growing home market, the telecommunications firm said on Monday. The service, which enables text message transactions on mobile phones, has been hugely popular in Kenya and Tanzania, but Vodacom sees little prospect of achieving a critical mass of users in South Africa, Vodacom Chief Executive Shameel Joosub said in a statement. Vodacom cited South Africa's weak economic
  
  Read more

• Slowing China, weak earnings weigh on European mining stocks

  09-05-2016 12:47 via news.yahoo.com
  A turn for the worse in Chinese economic data, sluggish earnings and rich valuations are proving a tough hurdle for European metals and mining stocks, putting at risk their position as the region's best ...
  
  Read more

Follow @FinanceUSA_News on Twitter!