Finance news

• SunEdison CFO asked to leave

  12-05-2016 23:45
  
  May 12 (Reuters) - Bankrupt solar company SunEdison Inc
  terminated the employment of Chief Financial Officer
  Brian Wuebbels and said it would delay filing its 10-Q report
  for the quarter ended March...
  
  Read more

• UPDATE 2-Shake Shack results beat estimates, raises forecast

  12-05-2016 23:24
  
  May 12 (Reuters) - Shake Shack Inc, known for its
  juicy antibiotic-free hamburgers and frozen custard shakes, on
  Thursday reported results that topped expectations and raised
  its same-restaurant...
  
  Read more

• BRIEF-Sunedison says will delay filing quarterly report

  12-05-2016 22:43
  
  * Delay in filing 10-q is primarily due to previously
  disclosed inability to file form 10-k for fiscal year ended
  december 31, 2015
  
  Read more

• Wall Street mixed as Apple tumbles to two-year low

  12-05-2016 22:35 via news.yahoo.com
  
  The S&P 500 and Dow Jones swerved between gains and losses before ending virtually flat. Up 0.90 percent, Microsoft was the largest upward force in the S&P 500. Apple Inc , a mainstay in many portfolios, was the heaviest drag on the three major indexes, slumping 2.35 percent to $90.34, its lowest since June 2014, as worries festered about slowing demand for iPhones.
  
  Read more

• Advertisement

• UPDATE 1-Nordstrom's comparable store sales fall; shares tumble

  12-05-2016 22:33
  
  May 12 (Reuters) - Department store operator Nordstrom Inc
  reported a drop in first-quarter sales at established
  stores and slashed profit expectations for the year, adding to
  the gloom in the...
  
  Read more

• Apple slide drags on Wall Street; yen weakens

  12-05-2016 22:25 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - The yen lost ground against the U.S. dollar on Thursday amid speculation Japan could expand its monetary stimulus soon, while a drop in Apple shares dragged the Nasdaq lower in a volatile trading day. Oil prices settled higher after a roller-coaster session that saw U.S. crude touch a six-month high. U.S. Treasury prices fell after comments from a Federal Reserve official suggested interest rates could rise faster than some investors expect.
  
  Read more

• S&P breaks even despite Apple slide

  12-05-2016 22:18 via news.yahoo.com
  
  NEW YORK (Reuters) - The S&P 500 ended flat on Thursday, with gains in Microsoft, Monsanto and Exxon offsetting a tumble in Apple to a two-year low, but the Nasdaq fell, weighed by the iPhone maker. The Dow Jones industrial average rose 9.38 points, or 0.05 percent, to 17,720.5, the S&P 500 lost 0.35 points, or 0.02 percent, to 2,064.11 and the Nasdaq Composite dropped 23.35 points, or 0.49 percent, to 4,737.33. (Reporting by Rodrigo Campos; Editing by Nick Zieminski)
  
  Read more

• Markets Right Now: Stocks end little changed on Wall Street

  12-05-2016 22:13 via news.yahoo.com
  NEW YORK (AP) — The Latest on developments in financial markets (all times local):
  
  Read more

• Advertisement

• South Africa top court ruling on voters register could delay local polls

  12-05-2016 21:34 via news.yahoo.com
  A South African Constitutional Court ruling due soon could delay local government elections due in August in which the ruling party faces a stern test over concerns about weak economic growth. The Independent Electoral Commission (IEC) has challenged a ruling by the Electoral Court that said the polling body must obtain and verify the addresses of all registered voters and remove anyone whose address is not listed from the voter rolls. The IEC wants the Constitutional Court, the top judicial bod
  
  Read more

• In search for growth, Goldman turns to debt

  12-05-2016 21:21 via news.yahoo.com
  
  Goldman Sachs Group Inc is hosting its first ever leveraged finance conference next week as the Wall Street bank tries to strengthen its position in debt underwriting and looks for new avenues of growth. The event is a key step for Goldman as it tries to convince clients to turn to it for debt financing rather than bigger competitors like JPMorgan Chase & Co , people familiar with the matter told Reuters. Goldman is searching for other sources of profit as strict regulations have pressured i
  
  Read more

• Regeneron CEO says drug price critique by independent group unscientific

  12-05-2016 21:19 via news.yahoo.com
  By Caroline Humer NEW YORK (Reuters) - Regeneron Pharmaceuticals Chief Executive Leonard Schleifer on Thursday took aim at an influential drug pricing watchdog, saying a critique of the company's new cholesterol lowering therapy was non-scientific. The Boston-based Institute for Clinical and Economic Review (ICER) last fall reviewed two new potent cholesterol drugs called PCSK9 inhibitors. It concluded that the treatments should cost about 67 percent less than the list prices set by Regeneron wi
  
  Read more

• Wall Street rises, shrugging off tumble in Apple shares

  12-05-2016 21:18 via news.yahoo.com
  
  U.S. stocks moved higher on Thursday, with gains in telecommunications and consumers staples outweighing a tumble in Apple to a two-year low. The S&P 500 and Dow Jones industrial average rose in the afternoon after declining earlier in the session. Microsoft Corp , up 1.09 percent, contributed the most to the S&P 500's gain.
  
  Read more

• UPDATE 4-Monsanto, once M&A instigator, now in awkward role as possible target

  12-05-2016 21:14
  
  May 12 (Reuters) - A year after Monsanto Co sparked
  a massive consolidation race in the agrochemical industry by
  bidding for a rival, the world's largest seed company now finds
  itself in the...
  
  Read more

• Wall Street choppy as Apple drags; yen slides

  12-05-2016 21:09 via news.yahoo.com
  
  The yen lost ground against the U.S. dollar on Thursday amid speculation Japan could expand its monetary stimulus soon, while a drop in Apple shares weighed down the Nasdaq. Oil prices settled higher after a volatile session which saw U.S. crude touch a six-month high. U.S. Treasury prices fell after comments from a Federal Reserve official suggested interest rates could rise faster than some investors expect.
  
  Read more

• Brazil president blasts critics, vows to fight impeachment

  12-05-2016 21:01 via news.yahoo.com
  
  BRASILIA, Brazil (AP) — Brazil's suspended President Dilma Rousseff vowed Thursday to use "all legal means" to fight permanent ouster in an impeachment trial, raising the specter of continued political turmoil as interim leader Michel Temer tries to rescue a sinking economy.
  
  Read more

• UN paints bleak picture of stagnating world economy

  12-05-2016 20:44 via news.yahoo.com
  UNITED NATIONS (AP) — The United Nations is lowering its forecast for the world economy, painting a bleak picture of stagnating growth with little prospect for a turnaround this year.
  
  Read more

• Apple's iPhone Nightmare Threatens Entire Stock Market

  12-05-2016 20:00 via news.yahoo.com
  
  Things just keep getting worse for Apple (AAPL) as the house that Jobs built comes under increasing pressure. The Nikkei Asian Review warned that weak demand for the upcoming iPhone 7 — which reportedly will be just another modest refresh of the iPhone 6 form factor — is set to hit component suppliers hard later this year. Coming on the heels of a big earnings miss for Apple on the first ever drop in iPhone sales, this is fueling concerns about weak demand as the smartphone market ge
  
  Read more

• Apple falls below $90 as iPhone worries fester

  12-05-2016 19:56 via news.yahoo.com
  
  Shares of Apple dropped below $90 on Thursday for the first time since 2014 as Wall Street worried about slow demand ahead of the anticipated launch of a new iPhone later this year. A mainstay of many Wall Street portfolios, Apple fell to as low as $89.47 before recovering slightly to $90.13, a 2.55 percent loss. Component suppliers in Taiwan will receive fewer orders from Apple in the second half of 2016 than in the same period last year, the Nikkei Asia Review reported on Thursday, citing sour
  
  Read more

• South Africa's Transnet steams into rest of Africa

  12-05-2016 19:48 via news.yahoo.com
  By Ed Cropley KIGALI (Reuters) - South African state rail-freight operator Transnet is embarking on a major expansion drive in the rest of the continent, offsetting a slowdown at home caused by the slump in commodity prices, chief executive Siyabonga Gama said on Wednesday. Transnet, which operates nearly three quarters of all Africa's rail network, was opening offices in West and East Africa and looking to deploy its expertise in running ports and pipelines as well rail, Gama told Reuters on th
  
  Read more

• Pakistan to get $510mn tranche of IMF loan: officials

  12-05-2016 19:30 via news.yahoo.com
  
  The International Monetary Fund announced on Thursday that it would release to Pakistan a further instalment worth $510 million of a three-year economic bailout package. The IMF's delegation head Harald Finger said in a statement that the decision was taken after a review of the country's economic performance and "after productive discussions" with Pakistani authorities. Finger said in a statement that growth remains robust and is expected to reach 4.5 percent this fiscal year despite a weak cot
  
  Read more

• Wall Street slumps as Apple sinks to two-year low

  12-05-2016 19:20 via news.yahoo.com
  
  Apple was the biggest drag on the three major indexes, falling as much as 3.3 percent to $89.47, its lowest since June 2014, as worries festered about slowing demand for iPhones. "This week there is a lack of big macro news, so the market is hunting around for something to latch on to," said John Canally, investment strategist and economist for LPL Financial in Boston. Cleveland Fed President Loretta Mester said the Fed should recognize that there is uncertainty in its economic forecasting, but
  
  Read more

• Nebraska utility head recommends closing nuclear power plant

  12-05-2016 19:13 via news.yahoo.com
  OMAHA, Neb. (AP) — The head of a Nebraska utility recommended shutting down the nation's smallest nuclear power plant by the end of the year, saying Thursday that it doesn't make economic sense to keep it open.
  
  Read more

• US open: Monsanto jumps on bid speculation

  12-05-2016 19:00 via news.yahoo.com
  (ShareCast News) - Wall Street slipped lower after an initial feint higher as crude oil futures changed course and headed lower, with traders also waiting on speeches from several Federal Reserve policy-makers ...
  
  Read more

• Investors boost bets on post-Rousseff Brazil but doubts persist

  12-05-2016 18:55 via news.yahoo.com
  BlackRock Inc is among major asset managers that had been raising their bets on Brazil even before President Dilma Rousseff was suspended from office on Thursday, but many investors are wary about the long-term recovery prospects of Latin America's largest economy. The growing likelihood that business-friendly Vice President Michel Temer would take power has already driven Brazil’s Bovespa stock index 22 percent higher and its real currency up 12 percent against the dollar so far this year
  
  Read more

• Bank of England says Brexit slowdown could lead to recession

  12-05-2016 18:42 via news.yahoo.com
  
  By David Milliken and William Schomberg LONDON (Reuters) - The Bank of England said Britain's economy would slow sharply, and could even fall into recession, if the country voted to leave the European Union and said there were limits to what the bank could do about it. In its starkest warning so far about the impact of an "Out" vote in the June 23 referendum, the central bank said sterling could fall sharply and unemployment would probably rise. "In that scenario we would expect a material slowi
  
  Read more

• World stocks fall as economic worries outweigh oil boost

  12-05-2016 18:33 via news.yahoo.com
  
  London (AFP) - Stock markets turned lower Thursday as worries about the US and British economies took the shine off oil market optimism.
  
  Read more

• FTSE slips on ex-div firms, mining worries

  12-05-2016 18:32
  
  LONDON, May 12 (Reuters) - Britain's top share index fell on
  Thursday in choppy trade, pulled lower by declines among mining
  companies and major firms trading without the attraction of
  their latest...
  
  Read more

• Recession looms as South Africa's manufacturing, mining contract

  12-05-2016 18:28 via news.yahoo.com
  
  By Mfuneko Toyana JOHANNESBURG (Reuters) - South Africa's manufacturing output resumed its decline and mining production contracted as weak global demand pushed the country's ailing economy closer to a recession. Manufacturing production shrank 2 percent in March and mining output plunged by 18 percent - the most on record - figures from Statistics South Africa showed on Thursday. "The economy is very weak, and with these set of figures, we're looking at the possibility of a contraction in the f
  
  Read more

• Fed will need to hike if second-quarter data points to stronger economy: Fed's Rosengren

  12-05-2016 18:27 via news.yahoo.com
  The Federal Reserve should raise interest rates again if data from the second quarter confirms the U.S. labor market is near full strength and inflation is on track to accelerate, Boston Fed President Eric Rosengren said on Thursday. The comments by Rosengren, a voting member this year on the Fed's rate-setting committee, point to growing pressure within the U.S. central bank to raise rates in the coming months. "If the economic data that come in over the course of this quarter confirm these tre
  
  Read more

• South Africa's rand, stocks fall as economic growth concerns weigh

  12-05-2016 18:24 via news.yahoo.com
  
  South Africa's rand weakened against the dollar on Thursday and stocks fell as domestic growth concerns rattled sentiment towards the continent's most industrialised economy. On Tuesday the rand had tumbled to its weakest level since March 29 after data showed unemployment rose to its highest in more than a decade. "The local numbers we have been getting from our economy has been painting us in a terrible picture, its impacting on the market with banks and consumer type stocks," said Afrifocus S
  
  Read more

• UPDATE 2-Hunting sees 30-40 pct fall in full-year revenue on oil slump

  12-05-2016 18:20
  
  * Reports EBITDA loss of $16.2 mln for four months ending
  April
  
  Read more

• UPDATE 3-After Macy's, Kohl's puts spotlight on weak apparel demand

  12-05-2016 18:18
  
  * Shares fall 12.5 pct to more than 7-year low(Adds details from conf call, analyst comment, graphic; updates
  shares)
  
  Read more

• Average 30-year loan rate falls to 3.57 percent, 3-year low

  12-05-2016 18:18 via news.yahoo.com
  
  WASHINGTON (AP) — Long-term U.S. mortgage rates fell this week for a third straight week, posting new lows for the year. The benchmark 30-year rate reached a three-year low.
  
  Read more

• Snam lowers operating profit forecast before June strategy plan

  12-05-2016 18:14
  
  MILAN, May 12 (Reuters) - Italian gas transport company Snam
  lowered a previous forecast for full-year operating
  profit on Thursday, sending its shares as much as six percent
  lower.
  
  Read more

• Markets Right Now: Stocks edge lower on Wall Street

  12-05-2016 18:04 via news.yahoo.com
  NEW YORK (AP) — The Latest on developments in financial markets (all times local):
  
  Read more

• Wall Street pulls back as Apple drags; yen weakens

  12-05-2016 18:01 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - The yen lost ground against the U.S. dollar on Thursday amid speculation Japan could expand its monetary stimulus soon, while a drop in Apple shares weighed down Wall Street. U.S. oil prices slid, after earlier hitting six-month highs, on signs of another storage build.
  
  Read more

• GLOBAL MARKETS-Wall St pulls back as Apple drags; yen weakens

  12-05-2016 18:00 via news.yahoo.com
  The yen lost ground against the U.S. dollar on Thursday amid speculation Japan could expand its monetary stimulus soon, while a drop in Apple (LSE: 0R2V.L - news) shares weighed down Wall Street. U.S. oil prices slid, after earlier hitting six-month highs, on signs of another storage build.
  
  Read more

• Bank of England warns of Brexit consequences on growth

  12-05-2016 17:55 via news.yahoo.com
  
  The Bank of England on Thursday warned that uncertainty over the outcome of next month's EU referendum was already weighing on British growth, as it left interest rates unchanged. BoE Governor Mark Carney meanwhile said that should Britain vote on June 23 to leave the European Union, the country risks suffering a "technical recession", or two successive quarters of negative growth, as jobs disappear and the value of the pound slumps. The Bank of England, presenting its latest economic projection
  
  Read more

• First-time lawmakers may make or break Iran's reform drive

  12-05-2016 17:47 via news.yahoo.com
  By Bozorgmehr Sharafedin and Sam Wilkin DUBAI (Reuters) - Iran's parliament reconvenes in late May with dozens of greenhorn lawmakers who will hold the key to accelerating reforms to boost foreign investment and trade - but whether they make or break the modernization drive is hard to predict. Elected in February, the 290-seat assembly replaces one dominated by hardliners suspicious of detente with the West and who curbed pragmatist President Hassan Rouhani's plans to liberalize the economy and
  
  Read more

• Goldman tries to drum up leveraged finance business as trading, stock sales slow

  12-05-2016 17:36 via news.yahoo.com
  
  Goldman Sachs Group Inc is hosting its first ever leveraged finance conference next week as the Wall Street bank tries to strengthen its position in debt underwriting and looks for new avenues of growth. The event is a key step for Goldman as it tries to convince clients to turn to it for debt financing rather than bigger competitors like JPMorgan Chase & Co , people familiar with the matter told Reuters. Goldman is searching for other sources of profit as strict regulations have pressured i
  
  Read more

• Bank of England says Brexit slowdown could even mean recession

  12-05-2016 17:22 via news.yahoo.com
  
  By David Milliken and William Schomberg LONDON (Reuters) - The Bank of England said on Thursday Britain's economy would slow sharply, even falling into recession, if the country voted to leave the European Union, and that there were limits to what the bank could do about it. It is a judgement not based on a whim... It is the judgement of the independent MPC (Monetary Policy Committee) and it is the judgement of all members of the MPC," BoE Governor Mark Carney said at a news conference. "Of cour
  
  Read more

• Wall Street falls as Apple hits two-year low

  12-05-2016 17:21 via news.yahoo.com
  
  Wall Street lost its early gains on Thursday to turn negative in late morning trading after Apple fell to an almost two-year low. "This week there is a lack of big macro news, so the market is hunting around for something to latch on to," said John Canally, investment strategist and economist for LPL Financial in Boston. The Nasdaq Composite was down 25.82 points, or 0.54 percent, at 4,734.87.
  
  Read more

• Brazil's Temer names Henrique Meirelles as finance minister

  12-05-2016 17:17 via news.yahoo.com
  BRASILIA (Reuters) - Brazil's interim President Michel Temer named Henrique Meirelles as his finance minister, a press officer said on Thursday, giving the former central bank chief the daunting task of turning around the country's worst recession in decades. Meirelles, who was widely expected to take on the role, will draw on his stellar reputation as central bank governor between 2003 and 2010, when the economy boomed, to revive investors' confidence in Latin America's ailing giant. (Reporting
  
  Read more

• FTSE slips as miners and firms trading ex-dividend weigh

  12-05-2016 17:10
  
  * Gold miners also rise(Recasts, adds detail and quote, updates prices)
  
  Read more

• European shares weighed down by disappointing earnings; Bayer falls

  12-05-2016 17:00 via news.yahoo.com
  European stocks inched lower in choppy trade on Thursday, weighed down by some disappointing earning updates, while Bayer and BASF dropped on reports they could be interested in buying Monsanto. The FTSEurofirst ...
  
  Read more

• EU lawmakers reject market economy status for China

  12-05-2016 16:54 via news.yahoo.com
  BRUSSELS (AP) — European Union lawmakers have voted against granting market economy status to China in a blow to Beijing's hopes to win the stamp of economic approval by December.
  
  Read more

• UPDATE 2-India's Dr Reddy's sees more challenges in U.S. business

  12-05-2016 16:43
  
  * Working on resolving FDA concerns on plants(Adds Chief Operating Officer comments from interview)
  
  Read more

• Bullish oil outlook lifts stock markets

  12-05-2016 16:12 via news.yahoo.com
  
  Hong Kong (AFP) - Stock markets got a boost from rising oil prices on Thursday, keeping shares in modestly positive territory, but gains were capped by an intensifying Brexit debate.
  
  Read more

• UPDATE 2-Finnair urges Finland to prepare for M&A deals after loss

  12-05-2016 16:05
  
  * Government says no plans to trim stake in Finnair(Adds government comment)
  
  Read more

• As drought shrivels crop, Pakistan cotton industry faces $4 bln bill

  12-05-2016 15:49 via news.yahoo.com
  
  By Aamir Saeed ISLAMABAD (Thomson Reuters Foundation) - Pakistan is spending $4 billion a year on cotton imports to support its ailing textile industry, after erratic rainfall and drought in the country's cotton fields slammed growers and the country's economy, officials say. "We are importing cotton from India and some other countries to fulfill our demand and this has increased to 20 percent in just six months," said Mehmood Aslam, operations manager at Fazal Group, one of the oldest and large
  
  Read more

Follow @FinanceUSA_News on Twitter!