Finance news

• BRIEF-Positron announces terms of its financial restructuring

  10-05-2016 23:52
  
  * Entered into a settlement agreement for structured
  dismissal
  
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• Disney results miss Wall St as ESPN ad revenue dips

  10-05-2016 23:37 via news.yahoo.com
  
  By Lisa Richwine and Rishika Sadam (Reuters) - Walt Disney Co missed Wall Street earnings targets for the first time in at least two years as its sports network ESPN posted a drop in advertising revenue and subscriptions and its theme parks and consumer division also lagged expectations. Shares of the world's best-known entertainment company fell 4.5 percent in extended trading on Tuesday. ...
  
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• Disney results miss Wall Street as ESPN ad revenue dips

  10-05-2016 23:29 via news.yahoo.com
  
  By Lisa Richwine and Rishika Sadam (Reuters) - Walt Disney Co missed Wall Street earnings targets for the first time in at least two years as its sports network ESPN posted a drop in advertising revenue and subscriptions and its theme parks and consumer division also lagged expectations. Shares of the world's best-known entertainment company fell 4.5 percent in extended trading on Tuesday. ...
  
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• US stocks make biggest leap since March on China stimulus

  10-05-2016 22:39 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks surged to their biggest gain in two months on Tuesday after the Chinese government moved to stimulate the world's second-largest economy. That gave a big boost to energy, chemicals and machinery companies.
  
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• Amazon delivers S&P 500 its best day in two months

  10-05-2016 22:31 via news.yahoo.com
  
  Buoyed as well by higher global stock markets, Wall Street's gains appeared to breathe new life into a two-month rally that had petered out in mid-April, and left the S&P 500 with an increase of nearly 2 percent for 2016. Amazon jumped 3.43 percent to a record of $703.07, giving the biggest boost to the S&P 500 and the Nasdaq. Bernstein raised its price target on the stock to $1,000, the highest on Wall Street, saying it believes Amazon's margins will expand much faster than currently ex
  
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• Stocks, oil surge as yen falls back again

  10-05-2016 22:24 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - Stock markets around the world rallied on Tuesday, helped by solid corporate earnings reports and higher oil prices supporting energy shares, while the yen again retreated sharply against the dollar. The yen fell against the dollar for a second day as a Japanese economic adviser reiterated that the country was prepared to intervene in currency markets. Equities globally benefited from investors' belief that the U.S. Federal Reserve is less likely to raise
  
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• America's infrastructure $1.44 trillion short through 2025: report

  10-05-2016 22:15 via news.yahoo.com
  
  America will fall $1.44 trillion short of what it needs to spend on infrastructure through the next decade, a gap that could strip 2.5 million jobs and $4 trillion of gross domestic product from the economy, a report from a society of professional engineers said on Tuesday. The American Society of Civil Engineers (ASCE) estimated that through 2025, the United States has funded only about 56 percent of its needed infrastructure spending. The nation needs to spend $3.32 trillion to keep its ports,
  
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• Syria moves to flexible exchange rate as pound hits new low

  10-05-2016 22:10 via news.yahoo.com
  BEIRUT (AP) — Syria's Central Bank ordered money changers to exchange currency at an unprecedented 620 Syrian pounds to the dollar and announced it would reevaluate the rate on a daily basis, in a move that economists say amounts to jettisoning the fixed exchange rate that was once the bedrock of the Syrian economy.
  
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• Uber to offer union representation to New York City drivers

  10-05-2016 21:39 via news.yahoo.com
  
  By Gina Cherelus NEW YORK (Reuters) - Uber [UBER.UL] will join with the International Association of Machinists to launch an independent guild to represent drivers of the ride-hailing service in New York City, company officials said on Tuesday. Under a five-year agreement, the Independent Drivers' Guild, which will be a branch of the Machinists Union, will aim to protect the current 35,000 drivers and any future drivers who work for Uber in the city, the guild said in a statement. "Forming this
  
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• Global stocks surge as oil climbs; yen slips again

  10-05-2016 21:12 via news.yahoo.com
  
  NEW YORK (Reuters) - Stock markets around the world rallied on Tuesday, helped by solid corporate earnings reports and higher oil prices supporting energy shares, while the yen again retreated sharply against the dollar.
  
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• Amazon puts Wall Street on track for best day in a month

  10-05-2016 20:54 via news.yahoo.com
  
  Buoyed by rises in oil and global stock markets, Wall Street's gains appeared to breathe new life into a two-month rally that petered out in mid-April, and it left the S&P 500 with an increase of nearly 2 percent for 2016. Amazon jumped 3.2 percent to a record of $701.40, giving the biggest boost to the S&P and the Nasdaq. Bernstein raised its price target on the stock to $1,000, the highest on Wall Street, saying it believes Amazon's margins will expand much faster than currently expect
  
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• Africa eyes digital age to revive growth

  10-05-2016 19:44 via news.yahoo.com
  
  Hammered by plunging commodity prices, Africa's political and business leaders meet for three days from Wednesday to discuss diversification and entering the digital economy to kickstart growth. The World Economic Forum on Africa opens in the Rwandan capital Kigali on the heels of its bigger avatar in the chic Swiss resort of Davos which stressed the need to shift to the digital era. "This is an opportunity for us also to consider what this means in the context of Africa, with ongoing opportunit
  
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• Wall Street on track for best one-day gain in a month

  10-05-2016 19:03 via news.yahoo.com
  
  Amazon jumped 3.2 percent to a record of $701.40, providing the biggest boost on the S&P and the Nasdaq. Bernstein raised its price target to $1,000, the highest on Wall Street, on the stock, saying it expects Amazon's margins to expand much faster than currently expected.
  
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• South Africa's rand claws its way back from six week lows, stocks up

  10-05-2016 18:48 via news.yahoo.com
  
  By Olivia Kumwenda-Mtambo and Tanisha Heiberg JOHANNESBURG (Reuters) - South Africa's rand clawed its way back from six week lows against the dollar on Tuesday as a firmer oil price lifted commodity currencies, but analysts said concerns over the ailing domestic economy would cap any significant gains. Analysts said Africa's most industrialised economy was not yet out of the woods after dodging a downgrade from Moody's last Friday, with Fitch and Standard & Poor's set to do their own reviews
  
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• EU warns against market economy status for China

  10-05-2016 18:37 via news.yahoo.com
  
  The EU on Tuesday said granting market economy status for China at the World Trade Organization was "untenable" due to the loss of jobs it would cost Europe in key industries such as steel. The European Commission, the EU's executive arm, has given itself until this summer to decide on whether to grant China the designation that would make it much harder for major economies to fight Beijing over alleged unfair trading practices. China argues its 2001 deal to join the World Trade Organization dic
  
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• Bulgarian deputy PM quits, raising concerns for gov't stability

  10-05-2016 18:19 via news.yahoo.com
  
  Bulgaria's deputy prime minister resigned on Tuesday after his ABV party said it would withdraw its support from the government, a move that that raises concerns over the stability of the ruling center-right coalition. Bulgaria, the European Union's poorest country, is on its fifth government since 2013 and rampant corruption is hampering efforts to boost economic growth and improve living standards. Ivailo Kalfin, who was also labor minister in Prime Minister Boiko Borisov's government, stepped
  
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• UK's NIESR sees 20 percent slide in sterling if Britain leaves EU

  10-05-2016 18:09 via news.yahoo.com
  
  By David Milliken LONDON (Reuters) - Britain's currency is likely to lose a fifth of its value if the country votes to leave the European Union on June 23, triggering intense inflation pressure and slower economic growth, a leading think-tank said on Tuesday. The report by the National Institute of Economic and Social Research adds to a string of warnings from Britain's finance ministry and international bodies about the costs for Britain of leaving the EU. Inflation in 2017 could be as much as
  
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• Global stocks climb along with oil; yen retreats again

  10-05-2016 17:45 via news.yahoo.com
  
  NEW YORK (Reuters) - World stock markets rallied on Tuesday as oil prices climbed and companies reported solid earnings, while the yen again retreated against the dollar.
  
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• UK think tank says exit from EU would be 'significant shock'

  10-05-2016 17:24 via news.yahoo.com
  
  LONDON (AP) — A British think tank says a decision by U.K. voters to leave the European Union would deliver a significant shock to the economy — with the pound dropping by as much as 20 percent in the immediate aftermath of the June 23 referendum.
  
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• Security fears push Turkish Airlines into loss

  10-05-2016 17:11 via news.yahoo.com
  
  Turkish flag carrier Turkish Airlines on Tuesday posted a massive loss as concerns over security in Turkey and the region took their toll on the ambitious airline. Turkish Airlines said its net loss in the first quarter amounted to $421 million, compared with a net profit of $153 million in the same period last year. "The political and economic instabilities... and increasing perceived global and regional risks in Turkey and Europe have a negative impact on aviation demand and placed additional
  
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• Global stock markets rise on oil, Greece

  10-05-2016 16:25 via news.yahoo.com
  
  Global stock markets rose on Tuesday, buoyed by a gain in oil prices, reassuring Chinese data and likely fresh bailout funds looming for Greece after eurozone talks.
  
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• Wall Street opens higher as oil prices boost energy shares

  10-05-2016 16:12 via news.yahoo.com
  
  Wall Street also ended mostly higher on Monday, helped by a rally in healthcare shares. The S&P 500 was up 10.77 points, or 0.52 percent, at 2,069.46 and the Nasdaq Composite was up 15.73 points, or 0.33 percent, at 4,765.94. Amazon's 2.5 percent rise was the biggest boost on the S&P and the Nasdaq, while Goldman Sachs' 1.3 percent increase helped lift the Dow.
  
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• Pro-Brexit economists say UK's 19th century Corn Laws show history is on their side

  10-05-2016 15:37 via news.yahoo.com
  
  A small group of economists who want Britain to leave the European Union say a historic, 19th-century economic reform showed that Chancellor George Osborne is wrong to warn that a so-called Brexit would hurt Britain. Just as the country's modern-day establishment want Britain to vote to stay in the EU in next month's referendum, its land-owning elite of nearly 200 years ago fought to keep the Corn Laws which imposed import tariffs on food, the group, Economists for Brexit, said.
  
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• Wall Street opens higher as oil prices rise

  10-05-2016 15:34 via news.yahoo.com
  
  REUTERS - U.S. stocks opened higher on Tuesday, tracking global equities, as investors' appetite for risk increased and as oil prices rose. The Dow Jones industrial average was up 73.21 points, or 0.41 percent, at 17,779.12, the S&P 500 was up 7.39 points, or 0.36 percent, at 2,066.08, and the Nasdaq Composite was up 19.81 points, or 0.42 percent, at 4,770.02. (Reporting by Tanya Agrawal; Editing by Savio D'Souza)
  
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• Nigeria's Access Bank managing director questioned and released without charge

  10-05-2016 14:46 via news.yahoo.com
  LAGOS (Reuters) - Nigeria's Economic and Financial Crimes Commission visited local lender Access Bank and questioned its managing director Herbert Wigwe over a transaction, the bank said on Tuesday. Wigwe complied with a request to follow officers for "further interrogation," the bank said in a statement, referring a visit by EFCC agents on Friday. "He was released without charge on the same day, following the resolution of the underlying issues." (Reporting by Oludare Mayowa; Writing by Ulf Lae
  
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• Saudi Aramco finalizes IPO options and plans global expansion

  10-05-2016 14:36 via news.yahoo.com
  
  Saudi Arabia's state-owned oil giant is finalizing options for its partial privatisation and will present them to its Supreme Council soon, its chief executive said about the centerpiece of the kingdom's efforts to overhaul its economy. The company has a huge team working on the proposals for the initial public offering (IPO) of less than 5 percent of the company's value, which include a single domestic listing and a dual listing with a foreign market, CEO Amin Nasser said on Tuesday. Nasser als
  
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• Wall Street set to open higher as oil prices rise

  10-05-2016 14:35 via news.yahoo.com
  
  World stock markets also rose, helped by solid corporate earnings in Europe, progress on Greek debt talks, and a new pledge by Japan that it was prepared to weaken its currency. U.S. stocks broke a three-day losing streak to close higher on Friday after a disappointing U.S. jobs report suggested the Federal Reserve would raise rates just once this year. Wall Street also ended mostly higher on Monday after a rise in healthcare companies offset the decline in energy and materials shares.
  
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• South Africa's rand touches 6-week lows as weak economy worries investors

  10-05-2016 14:22 via news.yahoo.com
  
  South Africa's rand fell to its weakest in six weeks against the dollar on Tuesday, under-performing most of its emerging market peers as investors fretted over the ailing economy and the persisting threat of credit rating cuts. Analysts said Africa's most industrialised economy was not yet out of the woods after dodging a downgrade from Moody's last Friday, with Fitch and Standard & Poor's set to do their own reviews over the next couple of weeks. The rand has been among the hardest hit eme
  
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• UPDATE 2-Egypt's urban consumer inflation hits 10.3 pct in April

  10-05-2016 13:54
  
  CAIRO, May 10 (Reuters) - Egypt's urban consumer inflation
  jumped in April after easing since the end of last year, the
  statistics agency said on Tuesday, putting pressure on the
  government to raise...
  
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• Iraq sells $1.3 billion in local bonds to plug public deficit

  10-05-2016 13:46
  
  BAGHDAD, May 10 (Reuters) - Iraq's central bank on Tuesday
  said it started selling local bonds worth 1.5 trillion Iraqi
  dinars ($1.29 billion), as part of an effort to plug a
  government deficit...
  
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• BRIEF-RIT Technologies updates on current business situation

  10-05-2016 13:45
  
  * Due to financial difficulties company is facing, Israel
  Frieder has resigned from Rit's board of directors
  
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• Triple A Johnson & Johnson jumps on euro bond bandwagon

  10-05-2016 13:28
  
  LONDON, May 10 (IFR) - Johnson & Johnson, the only company
  in the world rated Triple A by all three major ratings agencies,
  is looking to raise its first euro bond in nearly a decade.
  
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• UPDATE 2-Greek bond yields drop, stocks hit 2016 peak after debt relief offer

  10-05-2016 13:25
  
  * Eurogroup proposes debt relief from 2018(Updates prices)
  
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• Futures rise helped by higher oil prices

  10-05-2016 13:21 via news.yahoo.com
  
  U.S. stock index futures were higher on Tuesday, helped by a rise in oil prices as the raging wildfire in Canada hit supplies and temporarily eclipsed concern over high global inventories. * Oil prices were up more than 1 percent, driven by supply disruptions in Canada and elsewhere that have knocked out 2.5 million barrels of daily production.
  
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• World stock markets rise while yen falls back

  10-05-2016 13:13 via news.yahoo.com
  
  World stock markets rose on Tuesday, helped by solid corporate earnings in Europe, progress on Greek debt talks, and a new pledge by Japan that it was prepared to weaken its currency. The MSCI All-Country World index climbed 0.4 percent, the pan-European FTSEurofirst 300 index advanced 1.3 percent, while the MSCI Emerging Market index also edged higher. U.S. equity index futures rose around 0.5 percent and oil prices also climbed, driven by supply disruptions in Canada and elsewhere.
  
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• GLOBAL MARKETS-World stock markets rise while yen falls back

  10-05-2016 13:11
  
  LONDON, May 10 (Reuters) - World stock markets rose on
  Tuesday, helped by solid corporate earnings in Europe, progress
  on Greek debt talks, and a new pledge by Japan that it was
  prepared to weaken...
  
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• UPDATE 1-Vivint Solar to take part in SunEdison's bankruptcy case

  10-05-2016 13:10
  
  May 10 (Reuters) - Solar panel installer Vivint Solar Inc
  said it would participate in SunEdison Inc'sbankruptcy case to maximize its recovery from claims against
  SunEdison, which terminated its...
  
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• European stock markets rise on Greece

  10-05-2016 13:07 via news.yahoo.com
  
  European stock markets rose on Tuesday, as eurozone finance ministers looked set to sign off more bailout cash for Greece before the end of the month.
  
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• BRIEF-Sealed Air announces strategic partnership with Box On Demand and Panotec

  10-05-2016 13:03
  
  * Sealed Air announces strategic partnership with Box on
  Demand and PanotecSource text for Eikon:Further company coverage:
  (Bengaluru Newsroom: +1 646 223 8780)
  
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• Speaker of Brazil lower house backtracks on impeachment annulment

  10-05-2016 12:52
  
  BRASILIA, May 10 (Reuters) - The acting speaker of Brazil's
  Lower House of Congress early on Tuesday revoked his decision to
  annul the impeachment vote against President Dilma Rousseff.
  
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• Vivint Solar to take part in SunEdison's bankruptcy case

  10-05-2016 12:51
  
  May 10 (Reuters) - Solar panel installer Vivint Solar Inc
  said it would participate in SunEdison Inc'sbankruptcy case to maximize its recovery from claims against
  SunEdison, which terminated its...
  
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• German economy fares well in Q1 as trade surplus grows

  10-05-2016 12:33 via news.yahoo.com
  
  Booming exports pushed Germany's trade surplus up to an all-time high in March, but industrial output contracted, pointing to possible problems ahead for Europe's biggest economy, official data showed on Tuesday. The trade surplus is a key gauge of an economy's comparative strength and in recent months has highlighted the robustness of Europe's biggest economy amid the current global economic uncertainties. German exports grew by 1.9 percent to 101.3 billion euros ($115 billion) in seasonally-ad
  
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• BRIEF-S&P - Malaysia's and 1Mdb's contractual dispute with IPIC is not a sovereign default

  10-05-2016 12:13
  
  * S&P - Malaysia's and 1Mdb's contractual dispute with IPIC
  is not considered a sovereign default
  
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• Saudi Aramco says in final stages of preparing IPO options

  10-05-2016 12:12 via news.yahoo.com
  Saudi Aramco is in the final stages of preparing options for its initial public offer of shares before presenting the options soon to its Supreme Council for consideration, chief executive Amin Nasser said on Tuesday. Aramco has a huge team working on the options, which include a share listing in Saudi Arabia, a dual listing with a foreign market, and listings in more than two places, Nasser told reporters. The Supreme Council overseeing the national oil giant is headed by Deputy Crown Prince Mo
  
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• UK's NIESR forecasts 20 percent slide in sterling if Britain leaves EU

  10-05-2016 12:02
  
  LONDON, May 10 (Reuters) - Sterling is likely to fall by a
  fifth in the immediate aftermath of a British vote to leave the
  European Union on June 23, triggering intense inflation
  pressure, Britain's...
  
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• EMERGING MARKETS-EM stocks edge up, Turkish assets recoup some losses

  10-05-2016 11:58
  
  LONDON, May 10 (Reuters) - Emerging equities edged up on
  Tuesday, snapping a seven-day losing streak after moderate
  inflation data from China buoyedhopes of further monetary
  easing, while Turkish...
  
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• German linker attracts bids worth less than amount offered

  10-05-2016 11:55
  
  BERLIN, May 10 (Reuters) - Germany's Federal Finance Agency
  said on Tuesday that a top-up auction of a 2030 inflation-linked
  bond attracted bids worth less than the amount on offer.
  
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• Rwanda secures EU funds to expand electricity supply

  10-05-2016 11:52 via news.yahoo.com
  Rwanda signed an energy financing deal with the European Union on Tuesday worth 177 million euros ($200 million) that will help the government meet its target to ensure 70 percent of the population has access to power by 2018. In 2015, the government said just 23 percent of Rwanda's 11 million population could access the electricity grid or other off-grid sources. Broader access to power is seen as vital to boosting economic growth in Rwanda and across Africa.
  
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• World Bank says India faces stark digital divide

  10-05-2016 11:49 via news.yahoo.com
  
  India is a global IT powerhouse but a huge majority of the population remains locked out of the benefits brought by the digital economy, the World Bank said Tuesday. India's vibrant business process outsourcing sector, centred in the southern hubs of Bangalore and Hyderabad, has made it the leading exporter of IT services and skilled manpower in the developing world. India needs to strengthen the "analogue foundations" of its digital economy -- providing affordable Internet access, training work
  
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• BRIEF-Fitch - Investors targeting African banks despite high risks

  10-05-2016 11:09
  
  * Fitch - Investors targeting African banks despite high
  risks
  
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