Finance news

• BRIEF-Cwc Energy Services renews normal course issuer bid for common shares

  03-06-2016 23:53
  
  * Says anticipated that NCIB bid will commence on June 8,
  2016 and will terminate on June 7, 2017
  
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• UPDATE 4-Ex-Oppenheimer adviser arrested for trading on Pfizer employee's tips

  03-06-2016 23:52
  
  NEW YORK, June 3 (Reuters) - A former Oppenheimer & Co Inc
  investment adviser was arrested on Friday on charges he traded
  on inside information supplied by a childhood friend working at
  Pfizer Inc...
  
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• BRIEF-Regal Entertainment says Regal Cinemas entered secured refinancing agreement

  03-06-2016 23:52
  
  * On June 1, 2016, Regal Cinemas Corp entered into permitted
  secured refinancing agreement with Regal Entertainment Holdings
  
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• BRIEF-Keyera says C$60 million note issue under private shelf agreement

  03-06-2016 23:50
  
  * Keyera announces C$60 million note issue under private
  shelf agreement
  
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• BRIEF-Dundee Corp buys further interest in Formation Metals Inc

  03-06-2016 23:49
  
  * Unit has acquired 833,400 units of Formation Metals Inc at
  price of $0.30 per unit
  
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• Teva's opioid not abuse-deterrent when taken orally -FDA staff

  03-06-2016 23:47
  
  June 3 (Reuters) - An experimental, long-acting painkiller
  made by Teva Pharmaceutical Industries Ltd
  does not have abuse-resistant properties when taken orally,
  according to a preliminary review...
  
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• BRIEF-Ciner Resources LP files for a mixed shelf offering of upto $300 million - SEC filing

  03-06-2016 23:47
  
  * Ciner Resources LP files for a mixed shelf offering of
  upto $300 million - SEC filingSource text (http://1.usa.gov/1O7XaW3)
  Further company coverage:
  
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• BRIEF-Ashford Hospitality Trust files for mixed shelf offering

  03-06-2016 23:47
  
  * Files for mixed shelf offering of upto $450 mln - SEC
  filing
  Source text - http://1.usa.gov/1PslqTf
  Further company coverage:
  
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• Exclusive: Saudi's deputy crown prince to visit U.S. for talks - sources

  03-06-2016 23:37 via news.yahoo.com
  
  By Warren Strobel and Yara Bayoumy WASHINGTON (Reuters) - Saudi Arabia's powerful deputy crown prince is expected to visit Washington in mid-June for talks with top U.S. officials, possibly including President Barack Obama, amid growing friction between the longtime allies, three sources familiar with the matter said on Friday. Mohammed bin Salman, son of Saudi Arabia's King Salman, has been leading a drive to end the kingdom's dependence on oil and liberalize its economy.
  
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• Stocks, dollar, bond yields tumble as weak U.S. jobs data stuns

  03-06-2016 22:53
  
  By Sam Forgione NEW YORK (Reuters) - U.S. and European shares, the dollar, oil and bond yields all dived on Friday after data showed the slowest pace of U.S. job growth in more than five years, dashing expectations that the Federal Reserve could raise interest rates in June. U.S. non-farm payrolls rose by just 38,000 in May, the smallest gain since September 2010 and far below an expected 164,000. Wall Street's top banks unanimously expect the Fed to leave rates unchanged when its policymakers m
  
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• Pro-Brexit minister - I'm glad most economists are not on my side

  03-06-2016 22:49 via news.yahoo.com
  
  By Estelle Shirbon LONDON (Reuters) - A government minister campaigning for Britain to leave the European Union said on Friday he was glad not to have economic authorities on his side because they had been wrong about the euro and had failed to predict the global financial crisis. Justice Secretary Michael Gove also branded the 28-member bloc a "job-destroying machine" that had hollowed out communities across Britain, citing the failure of his own father's fishing business which he attributed to
  
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• Global stocks, dollar, bond yields tumble as weak U.S. jobs data stuns

  03-06-2016 22:47
  
  By Sam Forgione NEW YORK (Reuters) - U.S. and European shares, the dollar, oil and bond yields all dived on Friday after data showed the slowest pace of U.S. job growth in more than five years, dashing expectations that the Federal Reserve could raise interest rates in June. U.S. nonfarm payrolls rose by just 38,000 in May, the smallest gain since September 2010 and far below an expected 164,000. Wall Street's top banks unanimously expect the Fed to leave rates unchanged when its policymakers me
  
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• Canadian dollar strengthens to one-week high as Fed rate hike bets tumble

  03-06-2016 22:39 via news.yahoo.com
  
  By Fergal Smith TORONTO (Reuters) - The Canadian dollar strengthened to a one-week high against its broadly weaker U.S. counterpart on Friday after a slowdown in U.S. jobs growth lowered chances of an interest rate hike by the Federal Reserve, offsetting disappointing domestic data. The U.S. economy created the fewest number of jobs in more than five years in May, pointing to labor market weakness that could make it difficult for the Fed to raise interest rates.
  
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• Weak jobs report weighs on Wall Street, bank shares

  03-06-2016 22:34
  
  Wall Street finished lower on Friday, led down by financial shares, after a surprisingly weak jobs report prompted doubts about the U.S. economy and its ability to sustain a near-term interest rate hike. The U.S. economy created the fewest number of jobs in more than 5-1/2-years in May as manufacturing and construction employment fell sharply. Traders significantly cut bets that the Federal Reserve will raise rates at its meetings in June and July.
  
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• Portrait of US economy looks cloudier after poor jobs report

  03-06-2016 22:32 via news.yahoo.com
  
  WASHINGTON (AP) — An unexpectedly bleak May jobs report has suddenly muddied the outlook for the U.S. economy.
  
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• Finland government strikes deal with unions to boost stagnant economy

  03-06-2016 22:21 via news.yahoo.com
  
  By Tuomas Forsell and Jussi Rosendahl HELSINKI (Reuters) - After a year of negotiations and strikes, Finland's center-right government convinced the country's unions on Friday to accept an 'internal devaluation' that will cut workers' benefits for the first time in a century. The largest trade unions and main business representatives approved a proposed labor reform pact intended to boost export competitiveness in the stagnant economy of the Nordic country, a euro member state. "Today, we are ma
  
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• Banco Bradesco faces shareholder lawsuit in U.S.

  03-06-2016 22:05
  
  NEW YORK, June 3 (Reuters) - Banco Bradesco SAwas sued on Friday in a U.S. court by shareholders who accused
  it of concealing its involvement in a bribery scheme, an effort
  to avoid a 3 billion...
  
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• I am my own man, says Ukraine's new prime minister

  03-06-2016 21:48 via news.yahoo.com
  
  By Pavel Polityuk, Matthias Williams and Alexei Kalmykov KIEV (Reuters) - Ukrainian Prime Minister Volodymyr Groysman said on Friday he would not let his decision-making be shackled by powerful vested interests, allowing him to push through reforms and usher in a period of economic stability. In his first interview with foreign media since taking office in April, Groysman told Reuters he was confident of receiving a further installment of aid worth $1.7 billion from the International Monetary Fu
  
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• Fed likely to avoid rate hike before British vote EU

  03-06-2016 21:42 via news.yahoo.com
  
  By Howard Schneider and Ann Saphir WASHINGTON (Reuters) - The U.S. Federal Reserve may delay an interest rate rise at its June meeting due to concern about the economic fallout of Britain's impending vote on whether to leave the European Union. The geopolitical risk related to the vote will likely delay any U.S. rate increase until at least July, despite apparent consensus among Fed officials that a rate hike is warranted by stronger U.S. economic growth and a tight labor market. The Fed's June
  
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• DoubleLine's Gundlach calls May employment report 'real body blow'

  03-06-2016 21:39
  In a telephone interview, Gundlach also said the U.S. stock market is "incredibly resilient" after the "terrible" employment report. Gundlach, who oversees $100 billion at Los Angeles-based DoubleLine, noted that job gains for April, first recorded at an already light 160,000, were revised down sharply to plus 123,000 jobs, which means "this puts incredible significance for next month's employment report after May's terrible report. Gundlach said the firm purchased 49-year government agencies Th
  
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• US hiring grinds to a near-halt; many stop looking for work

  03-06-2016 21:38 via news.yahoo.com
  
  WASHINGTON (AP) — U.S. hiring slowed to a near-standstill in May, sowing doubts about the economy's health and complicating the Federal Reserve's efforts to raise interest rates.
  
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• Facebook's Zuckerberg may lose majority voting control if he exits

  03-06-2016 21:29 via news.yahoo.com
  
  (Reuters) - Facebook Inc's board has proposed removing Mark Zuckerberg's majority voting control in the event of the social media giant's chief executive and founder deciding to exit management at some point in future. In a proxy filing with the U.S. Securities and Exchange Commission, Facebook's board said it would ask shareholders to vote on a proposal that would convert Zuckerberg's Class B shares into Class A shares if he is no longer in a leadership position. As of June 2, Zuckerberg benefi
  
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• Banks lead Wall Street slide after dismal jobs data

  03-06-2016 20:56 via news.yahoo.com
  
  Financial stocks led Wall Street lower on Friday after a surprisingly weak jobs report for May prompted concerns about the U.S. economy and whether it can sustain a near-term interest rate hike. The U.S. economy created the fewest number of jobs in more than 5-1/2-years in May as manufacturing and construction employment fell sharply. Traders significantly lowered their bets that the Federal Reserve will raise rates at its next meetings in June and July, with predictions at 6 percent for an incr
  
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• Wall Street sees no rate hike in June; weak U.S. payrolls, 'Brexit' weigh - Reuters poll

  03-06-2016 20:50
  
  By Dion Rabouin NEW YORK (Reuters) - Wall Street's top banks unanimously expect the Federal Reserve to leave interest rates unchanged this month, preliminary results of a Reuters poll showed on Friday, with bank economists pointing to a weakening U.S. employment scene and Britain's pending vote on remaining in the European Union. All 18 early respondents to a poll of so-called primary dealers about the rate outlook said the Fed would leave its benchmark interest rate unchanged in a range of 0.25
  
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• Tunisia's powerful union rejects Essebsi call to join government

  03-06-2016 20:28 via news.yahoo.com
  
  Tunisia's powerful UGTT union, a joint winner of last year's Nobel Peace Prize, on Friday rejected a call from the country's president to work in a new national unity government to help push through economic reforms. President Beji Caid Essebsi called on Thursday for political parties, unions and independents to negotiate a new unity government to help advance a reform package and calm social tensions. The UGTT's refusal will weaken the chances of success of Essebsi's proposal, which aims t
  
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• Don't know where U.S. stocks are headed? The options market has a deal for you

  03-06-2016 20:26
  
  One year after the U.S. stock market topped out, indexes are again near their highs and that makes options traders nervous, so much so that bullish bets on U.S. equities now are bargain priced, even though the underlying stocks are not. While market volatility is low, general economic weakness and the possibility of Britain's exit from the European Union could hurt stocks. For example, on Friday, an investor owning 100 shares of the S&P 500's tracking exchange traded fund could sell these fo
  
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• U.S. prosecutors to refund hedge fund insider trading settlement

  03-06-2016 20:13
  
  NEW YORK (Reuters) - U.S. prosecutors have agreed to a rare settlement refund of $6 million to hedge fund Diamondback Capital Management LLC after a ruling by a 2014 federal appeals court made...
  
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• South Africa to decide on future of state-owned firms by end this year:Treasury DG

  03-06-2016 19:21 via news.yahoo.com
  
  JOHANNESBURG (Reuters) - South Africa will decide by the end of this year which state-owned companies would be privatised or closed as the government cuts spending amid slow economic growth, Treasury Director General Lungisa Fuzile said on Friday. "I can say without fear of contradiction, before the end of this year, it will be possible to go beyond just the technical analysis and reporting and begin now to point at which entities have got to folded and which ones must be merged," Fuzile said in
  
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• Two deputies to Croatian PM reject his call to resign

  03-06-2016 19:00 via news.yahoo.com
  
  By Igor Ilic ZAGREB (Reuters) - Croatian Prime Minister Tihomir Oreskovic urged his two deputies on Friday to resign over a political dispute in which they are both embroiled so that the government can press ahead with crucial economic reforms, but they rejected his call. An alleged conflict of interest involving Tomislav Karamarko, head of the biggest party in the ruling coalition, the conservative HDZ, has brought the four-month-old government close to collapse.. Bozo Petrov, the other deputy
  
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• Banks lead Wall St slide after dismal jobs data

  03-06-2016 18:59
  
  Financial stocks led Wall Street lower in early afternoon trading on Friday after shockingly weak nonfarm payrolls data for May raised doubts if the economy could withstand an interest rate hike in the near term. The U.S. Labor Department said payrolls increased by only 38,000 last month, the smallest gain since September 2010 and well below economists' forecasts of 164,000. "This was not a huge miss or off-the-mark, this was a shocking miss," said Mark Grant, managing director and fixed-income
  
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• Oil slips on U.S. economy concern, Brent holds near $50

  03-06-2016 18:49 via news.yahoo.com
  
  By Devika Krishna Kumar NEW YORK (Reuters) - Oil prices dipped on Friday on concerns about the U.S. economy, but Brent crude held close to $50 a barrel in choppy trading with support from a weaker dollar and relief that most OPEC members do not plan to flood the market with excess crude. Weaker-than-expected U.S. non-farm payroll data sent the dollar index to its lowest since mid-May, which also supported crude prices. The weak data raises concerns about U.S. gasoline demand this summer driving
  
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• Luxembourg sets aside 200 million euros to fund space mining ventures

  03-06-2016 18:23 via news.yahoo.com
  Luxembourg on Friday upped its bid to be a leader in the nascent space mining industry by setting aside 200 million euros ($223 million) to fund initiatives aimed at bringing back rare minerals from space. Luxembourg in February announced plans for a law that would make it the first state in Europe to give legal clarity to the commercial exploitation of asteroids. "We have a first budget to get started but if we need more money, we will be able to provide it," Etienne Schneider, Luxembourg's eco
  
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• S&P affirms South Africa's investment grade credit rating

  03-06-2016 18:10 via news.yahoo.com
  
  S&P Global Ratings on Friday affirmed South Africa's investment-grade credit rating and kept its negative outlook, pushing the rand higher. S&P affirmed the rating on the sovereign debt of Africa's most industrialised country at BBB-, but warned that the outlook remained negative, reflecting the potential adverse consequences of low GDP growth. "The outlook remains negative, reflecting the potential adverse consequences of low GDP growth and signalling that we could lower our ratings on
  
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• Market ignoring U.S. election 'instability,' Federated's Orlando says

  03-06-2016 18:08
  
  NEW YORK (Reuters) - The U.S. presidential election will spark heightened stock market volatility in the second half of the year, said Phil Orlando, chief equity strategist at Federated Investors,...
  
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• Executive suicides scratch Switzerland's picture perfect veneer

  03-06-2016 18:04 via news.yahoo.com
  
  By John Miller and John O'Donnell ZURICH/FRANKFURT (Reuters) - An unusual number of suicides by top executives in Switzerland has prompted introspection in its business community over how senior managers are dealing with stress as its companies struggle to retain their status in the global economy. The death last week of the former chief executive of Zurich Insurance, Martin Senn, came less than three years after the insurer's finance chief, Pierre Wauthier, took his own life. Wauthier had blame
  
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• Britain's FTSE boosted by commodities rally

  03-06-2016 17:52
  
  * Indivior jumps after winning ruling(Adds detail, updates prices at close)
  
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• Wall Street slides, led by financials, after dismal jobs data

  03-06-2016 17:38
  
  Financial stocks led Wall Street sharply lower on Friday after much weaker-than-expected nonfarm payrolls data for May raised doubts if the economy was healthy enough to absorb an interest rate hike in the near term. The U.S. Labor Department said payrolls increased by only 38,000 last month, the smallest gain since September 2010 and well below economists' forecasts of 164,000. "This was not a huge miss or off-the-mark, this was a shocking miss," said Mark Grant, managing director and fixed-inc
  
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• US hiring stalls in May; Fed rate hike in question

  03-06-2016 17:33 via news.yahoo.com
  
  US companies unexpectedly slashed hiring last month after a strong four-year run, raising questions about the economy's strength and squelching expectations the Federal Reserve will raise interest rates this month. In a shock employment report, the Labor Department said Friday that the US economy generated a paltry 38,000 net new positions in May, a quarter of that expected, and the lowest number since September 2010, the last time the jobs market actually contracted. Coupled with downward revis
  
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• US stocks, dollar slide after weak jobs report

  03-06-2016 17:30 via news.yahoo.com
  
  A slide in financial and consumer stocks led U.S. indexes lower in late morning trading Friday as investors weighed the implications of a key government report showing that hiring slowed sharply in May. The downbeat job survey was a sign of economic weakness that could dissuade the Federal Reserve from raising interest rates this month. The dollar fell sharply against most major currencies, while bond prices surged as investors sought safety in U.S. government-backed debt.
  
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• Central banks downbeat on German, French growth

  03-06-2016 17:19 via news.yahoo.com
  
  The German and French central banks issued downbeat growth forecasts Friday, as the EU Commission came under pressure to bring Paris in line over excessive deficits. The Bundesbank said the powerhouse German economy would expand by 1.7 percent this year, slowing to 1.4 percent in 2017. Exports, long the bedrock of the German economy, are only providing a "limited" push but "should pick up" in coming years, Weidmann predicted.
  
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• Weak U.S. employment report dims prospect of Fed rate hike

  03-06-2016 16:51 via news.yahoo.com
  
  The U.S. economy created the fewest number of jobs in more than 5-1/2-years in May as manufacturing and construction employment fell sharply, suggesting slippage in the labor market that could make it harder for the Federal Reserve to raise interest rates. Employment gains were also restrained by a month-long strike by Verizon workers, which depressed information sector payrolls by 34,000 jobs. Underscoring the report's weakness, employers hired 59,000 fewer workers in March and April than previ
  
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• RPT-Colombia's Avianca surges on takeover reports

  03-06-2016 16:45
  
  June 3 (Reuters) - Avianca Holdings SA's
  U.S.-listed shares jumped as much as 23 percent on Friday after
  reports that United Continental Holdings Inc and Delta
  Air Lines Inc were weighing bids for...
  
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• US jobs data sink stock rally, dollar

  03-06-2016 16:10
  
  Hong Kong (AFP) - Data showing lacklustre job creation in the United States squelched a rally on European equity markets on Friday, also sending the dollar and Wall Street lower.
  
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• Colombia's Avianca surges on takeover reports

  03-06-2016 15:59
  
  June 3 (Reuters) - Avianca Holdings SA's
  U.S.-listed shares jumped as much as 23 percent on Friday after
  reports that United Continental Holdings Inc and Delta
  Air Lines Inc were weighing bids for...
  
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• Canada runs large trade deficit as economy keeps spluttering on

  03-06-2016 15:54 via news.yahoo.com
  
  By David Ljunggren OTTAWA (Reuters) - Canada ran a near-record trade deficit of C$2.94 billion ($2.28 billion) in April as the economy continued to struggle with weak crude oil prices that have slashed the value of exports and curbed growth. The deficit, announced by Statistics Canada on Friday, was the 20th in a row and greater than the C$2.45 billion shortfall forecast by analysts in a Reuters poll. The shortfall narrowed from the previous month as exports rose 1.5 percent from March on a slig
  
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• Higher South African rates leave households saddled with crushing debt

  03-06-2016 15:26 via news.yahoo.com
  
  By Stella Mapenzauswa JOHANNESBURG (Reuters) - Rate increases by South Africa's central bank have left at least 10 million people crippled by debt in a country where many people buy on credit. The result may be a further slowdown in South Africa's slumping economy, which is now expected to grow just 0.9 percent in 2016. South Africa's unemployment rate is already at a record high of nearly 27 percent.
  
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• Croatia PM Oreskovic calls on his two deputies to resign

  03-06-2016 15:03 via news.yahoo.com
  
  By Igor Ilic ZAGREB (Reuters) - Croatian Prime Minister Tihomir Oreskovic urged his two deputies on Friday to resign over a political dispute in which they are both embroiled so that the government can press ahead with crucial economic reforms. An alleged conflict of interest involving Tomislav Karamarko, head of the biggest party in the ruling coalition, the conservative HDZ, has brought the four-month-old government close to collapse.. Bozo Petrov, head of 'Most' (Bridge), a small reformist pa
  
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• Wall Street set to open lower after weak jobs data

  03-06-2016 14:57
  
  Wall Street was set to open lower on Friday after much weaker-than-expected jobs data for May that pointed to labor market weakness and raised doubts if the economy was healthy enough to absorb an interest rate hike in the coming months. The Labor Department said nonfarm payrolls increased by only 38,000 last month, the smallest gain since September 2010 and well below economists' forecast of 164,000. The decrease was in part due to a people dropping out of the labor force.
  
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• US gains just 38K jobs, fewest in 5 years; rate at 4.7 pct.

  03-06-2016 14:57 via news.yahoo.com
  
  WASHINGTON (AP) — U.S. employers drastically slowed their hiring in May, adding just 38,000, the fewest in more than 5 years and a sign of concern after the economy barely grew in the first three months of the year.
  
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• Burundi’s May tax revenues up 34 pct yr/yr -revenue board

  03-06-2016 14:43 via news.yahoo.com
  Cumulative tax collection from January to May rose to 246.2 billion francs from 244.7 billion francs in 2015, the semi-autonomous revenue board (OBR) said in its monthly report. Burundi is one of the world's poorest nations and its economy has been weakened by a year-long crisis that escalated after President Pierre Nkurunziza decided to run for a third term. It has to rely on its modest revenues from coffee and tea production and domestic tax collection after the European Union and other key do
  
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