Finance news

• Puerto Rico GO bond price dips, rescue bill moves to Senate

  10-06-2016 23:52 via news.yahoo.com
  
  By Daniel Bases NEW YORK (Reuters) - Puerto Rico's benchmark General Obligation bond fell in price on Friday in choppy trading after the U.S. House of Representatives passed legislation aimed at helping the U.S. territory fix its fiscal mess. The GO bond, carrying an 8 percent coupon and maturing in 2035, last traded at 64.74 points in price, pushing the yield to 13.05 percent from 12.73 percent on Thursday, according to data provided by the Municipal Securities Rulemaking Board. Late on Thursda
  
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• 'Leave' 10 points ahead in ORB poll on Britain's EU referendum

  10-06-2016 23:36 via news.yahoo.com
  
  The "Leave" camp was 10 points ahead of "Remain" with less than two weeks to go before Britain's referendum on whether to stay in the European Union, according to a poll by ORB for The Independent newspaper published on Friday. It was the biggest lead enjoyed by those wanting Britain to quit the 28-member bloc since the poll series started a year ago, The Independent said. Britons will vote on June 23 on whether to leave the world's largest free trading area, a decision with far-reaching implica
  
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• Within sight of a record, Wall St. runs into a wall

  10-06-2016 22:51 via news.yahoo.com
  
  Ahead of Britain's June 23 referendum on whether to stay in the European Union, a poll showed those in favor of Britain exiting the EU, or "Brexit," were well ahead of those who favor remaining. If Brexit occurs, that's a major shock," said Adam Sarhan, chief executive of Sarhan Capital in New York.
  
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• Within sight of a record, Wall Street runs into a wall

  10-06-2016 22:48 via news.yahoo.com
  
  Ahead of Britain's June 23 referendum on whether to stay in the European Union, a poll showed those in favour of Britain exiting the EU, or "Brexit," were well ahead of those who favour remaining. If Brexit occurs, that's a major shock," said Adam Sarhan, chief executive of Sarhan Capital in New York.
  
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• House opposes carbon and oil taxes in symbolic votes

  10-06-2016 22:47 via news.yahoo.com
  The Republican-controlled U.S. House of Representatives voted largely along party lines on Friday to reject any new taxes on carbon emissions and oil production. The two non-binding actions were intended to get Republicans on the record opposing higher taxes on fossil fuels amid industry concerns that they could become part of a new tax reform debate in 2017, according to aides and lobbyists. One resolution opposing a carbon tax as detrimental to the U.S. economy, which was led by House Majority
  
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• Elusive S&P record looms as investors weigh data, Fed

  10-06-2016 22:09 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - With the S&P 500 again coming close to a record this week before falling back, investors will turn next week to a full slate of economic data and a Federal Reserve meeting in hope of fresh reasons whether to drive stocks to new highs. "Equities are having a difficult time finding a rationale to punch through to a new high," said Peter Kenny, senior market strategist at Global Markets Advisory Group in Berkeley Heights, New Jersey. Next week brings the
  
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• Wall Street falls on oil decline, Brexit worry

  10-06-2016 22:05 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks dropped for a second straight day on Friday following another drop in oil prices and rising worries about the global economy ahead of Britain's referendum on whether to stay in the European Union. The Dow Jones industrial average fell 119.37 points, or 0.66 percent, to 17,865.82, the S&P 500 lost 19.35 points, or 0.91 percent, to 2,096.13 and the Nasdaq Composite dropped 64.07 points, or 1.29 percent, to 4,894.55. (Reporting by Chuck Mikolajczak; Editing by N
  
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• Oil down 3 percent as U.S. drillers add rigs, strong dollar weighs

  10-06-2016 21:26 via news.yahoo.com
  
  By Barani Krishnan NEW YORK (Reuters) - Oil prices settled down 3 percent on Friday after data showing the U.S. oil drilling rig count rising for a second week in row and a stronger dollar weighed on demand for greenback-denominated crude futures. A slide of more than 1 percent in Wall Street share prices , the largest since April, also prompted pre-weekend profit-taking in Brent and U.S. crude futures, which had rallied earlier in the week. The front-month in U.S. crude's West Texas Intermediat
  
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• The Trump Brand Just Took Another Hit

  10-06-2016 21:10 via news.yahoo.com
  
  It looks like Donald Trump’s vaunted business brand just took another hit. The presumptive GOP presidential nominee is still enmeshed in the controversy over lawsuits charging fraud from students of the now defunct Trump University, as well as Trump’s racially charged comments that the federal judge overseeing one of those cases lacks objectivity because of his Mexican heritage. Now the billionaire New York real estate businessman has been hit by two devastating reports by USA Today
  
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• Oil down 3 pct as U.S. drillers add rigs, strong dollar weighs

  10-06-2016 21:05 via news.yahoo.com
  Oil prices settled down 3 percent on Friday after data showing the U.S. oil drilling rig count rising for a second week in row and a stronger dollar weighed on demand for greenback-denominated crude futures. A slide of more than 1 percent in Wall Street share prices , the largest since April, also prompted pre-weekend profit-taking in Brent and U.S. crude futures, which had rallied earlier in the week.
  
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• With U.S. stocks near record highs, some investors prep for volatility

  10-06-2016 21:01 via news.yahoo.com
  By David Randall and Saqib Iqbal Ahmed NEW YORK (Reuters) - As U.S. stocks close in on new record highs, some investors are betting on a return of the wild ride that marked the first two months of the year. "We've got a very volatile summer coming up," said Phil Orlando, chief equity strategist at Federated Investors, who said he has been raising cash and moving more money into defensive sectors such as healthcare and utilities. Recent inflows to exchange-traded products (ETPs) used to place bet
  
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• UPDATE 5-MTN settles Nigeria dispute, looks at local listing

  10-06-2016 20:46
  
  * Nigeria lower house surprised by deal, still investigating(Adds government quote)
  
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• Globalized economy more susceptible to weather extremes, scientists warn

  10-06-2016 20:19 via news.yahoo.com
  
  By Megan Rowling BARCELONA (Thomson Reuters Foundation) - The globalization of the world's economy this century has made it far more vulnerable to the impacts of extreme weather, including heat stress on workers, scientists said on Friday. A study by the Potsdam Institute for Climate Impact Research and Columbia University showed production losses caused by high temperatures, predicted to rise further with climate change, now spread more easily from one place to another as they ripple through gl
  
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• Investors avoiding risk on weak global GDP outlook: Gundlach

  10-06-2016 19:26 via news.yahoo.com
  
  By Jennifer Ablan NEW YORK (Reuters) - Jeffrey Gundlach, chief executive of DoubleLine Capital, said on Friday that investors are dropping risky assets from their portfolios because of falling global Gross Domestic Product expectations, fueled by China's slowing growth, and the intensifying U.S. presidential race. "Falling global GDP expectations, fueled by China having trouble holding it together, are affecting financial markets," Gundlach said in an email to Reuters. "And then, there's the unf
  
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• UPDATE 2-Shares in Dutch discount gym slide at launch

  10-06-2016 19:15
  
  AMSTERDAM, June 10 (Reuters) - Shares in Dutch discount gym
  chain Basic-Fit fell when it launched its initial
  public offering on Friday, despite being priced at the bottom of
  its pre-offer range.
  
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• Wall Street down sharply on oil drop, global growth worries

  10-06-2016 19:14 via news.yahoo.com
  
  A sharp drop in oil prices and global growth worries sent jitters through Wall Street, leading the three major U.S. indexes lower for the second straight day in volatile trading on Friday. After three days of gains, losses in the past two sessions have pushed the Nasdaq into the red for the week, while the S&P 500 and the Dow are roughly flat.
  
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• South Africa's finmin says robust institutions will help avert credit downgrade

  10-06-2016 19:07 via news.yahoo.com
  
  By Mfuneko Toyana JOHANNESBURG (Reuters) - South Africa has robust institutions to help it avert a credit downgrade, Finance Minister Pravin Gordhan said on Friday, days after Fitch became the third major rating agency to uphold its investment grade status. South Africa has also dodged cuts from Moody's and S&P, but analysts said that downgrades could be in the pipeline by December amid an economic meltdown critics partly blame on mismanagement by President Jacob Zuma. Speaking at a business
  
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• Buying spree sends bonds into twilight zone

  10-06-2016 19:00 via news.yahoo.com
  
  Global investors are piling into sovereign bonds amid concerns about Brexit and sluggish growth, pushing rates of return close to zero and even into negative territory, creating an unprecedented situation with unknown consequences. The yield or rate of return on the Bund, Germany's 10-year government bond, hit 0.02 percent on Friday morning in trading on the secondary market. Interest rates on sovereign debt have been low for some time as central banks snap up government bonds from investors in
  
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• Britain's FTSE hits three-week low as financials, Tesco fall

  10-06-2016 18:03
  
  * Brexit worries weigh on market(Adds details, updates prices at close)
  
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• Merkel to press China on business conditions amid takeover wave

  10-06-2016 17:56 via news.yahoo.com
  
  By Noah Barkin and Andreas Rinke BERLIN (Reuters) - After a golden decade for economic ties between Germany and China, concerns are growing in Berlin over barriers to foreign firms in China, Beijing's more muscular foreign policy and its increased authoritarianism at home. German Chancellor Angela Merkel heads to Beijing on Saturday for the ninth time since taking office amid growing pressure from industry and rights groups to confront the Chinese more forcefully. "We have a proliferation and in
  
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• After boom years, vintage car market cools ahead of Zurich auction

  10-06-2016 17:47 via news.yahoo.com
  
  By John Revill ZURICH (Reuters) - After years of double digit growth, the price of vintage cars has stopped soaring and they may no longer be seen as the smart choice for wealthy investors, some of whom will attend an auction of valuable autos in Zurich this weekend. With global interest rates at ultra-low levels and stock markets in the doldrums, classic cars had joined property, paintings, and wine as attractive alternative investments. "It's not a bubble and it's not bursting, but the market
  
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• Wall St down sharply on oil drop, global growth worries

  10-06-2016 17:35 via news.yahoo.com
  
  Global growth worries and a sharp drop in oil prices sent jitters through Wall Street, leading the three major U.S. indexes lower for the second straight day on Friday. The yield on government bonds fell globally, while gold prices held near a three-week high.
  
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• TMX Group CFO Michael Ptasznik jumps ship to Nasdaq

  10-06-2016 17:30 via news.yahoo.com
  
  (Reuters) - Nasdaq Inc said it named Michael Ptasznik as chief financial officer after he resigned from a similar role at TMX Group Inc , the operator of the Toronto Stock Exchange. The appointment of Ptasznik is seen as a coup for Nasdaq, which is looking to expand its footprint in Canada. Nasdaq announced in March that it plans to seek regulatory approval to turn its existing alternative trading systems in Canada, which are more lightly regulated than exchanges, into full-blown stock exchanges
  
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• Oil down ahead of U.S. rig count; strong dollar weighs

  10-06-2016 17:24 via news.yahoo.com
  
  Oil prices fell nearly 2 pct on Friday as investors braced for another likely rise in the U.S. oil rig count this week and as a strong dollar again weighed on demand for crude futures denominated in the greenback. More sabotage of Nigeria's oil industry by rebels had limited losses in Brent and WTI earlier in the session. The Niger Delta Avengers group blew up the Obi Obi Brass trunk line for oil run by ENI , adding to the woes of Africa's largest oil economy.
  
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• Changing economic conditions can affect children’s weight

  10-06-2016 17:17 via news.yahoo.com
  
  By Madeline Kennedy (Reuters Health) – During economic slumps, children’s risk of becoming overweight or obese may rise with the unemployment rates in their communities, according to a recent study of California school children. Researchers found that after the 2007 U.S. economic crash, children in areas where houses were being foreclosed tended to lose weight. “We often think about how recessions directly affect adults (e.g.
  
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• INTERVIEW-MTN Group's chairman says Nigerian unit to pay SIM cards fine

  10-06-2016 16:36
  
  JOHANNESBURG, June 10 (Reuters) - MTN Group'sNigeria unit will be responsible for paying the entire $1.67
  billion fine in a settlement with the Nigerian government over
  unregistered SIM cards, its...
  
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• Russia cuts key rate for first time in over 10 months

  10-06-2016 16:32 via news.yahoo.com
  
  Russia's central bank cut its key interest rate by half a percentage point Friday, the first reduction in nearly a year on the back of fading inflation fears and a recovery by the ruble thanks to a bounce in oil. "The Bank of Russia Board of Directors decided to reduce the key rate from 11.00 to 10.50 percent," the bank said in a statement. Russia is desperate to breathe life into its energy-driven economy, which is mired in a recession caused mainly by the drop in oil prices and Western sanctio
  
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• World stocks slump on economic unrest

  10-06-2016 16:17 via news.yahoo.com
  
  London (AFP) - Global stock markets slumped on Friday as traders expressed unease over central bank policy and Britain's looming referendum on EU membership.
  
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• Canadian dollar strengthens on jobs data; gains restrained as oil falls

  10-06-2016 15:45 via news.yahoo.com
  
  By Fergal Smith TORONTO (Reuters) - The Canadian dollar strengthened against its U.S. counterpart on Friday after stronger-than-expected domestic jobs data, although gains for the risk-sensitive commodity-linked currency were restrained as oil prices and stocks fell. Canada's economy added a higher-than-expected 13,800 jobs in May as full-time employment gains more than offset part-time losses, Statistics Canada data showed. "Given the public sector skew to the numbers I think the markets and th
  
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• UPDATE 1-Lufthansa shares hit as CFO leaves for pharma firm

  10-06-2016 15:42
  
  * Lufthansa shares down 5.5 pct, biggest Dax faller(Recasts, adds details, shares, analyst comment)
  
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• UPDATE 1-UniCredit won't be rushed into choosing new CEO - chairman

  10-06-2016 15:34
  
  MILAN, June 10 (Reuters) - UniCredit, Italy's
  biggest bank by assets, will not appoint a new chief executive
  to replace Federico Ghizzoni before the end of July, the bank's
  chairman said on Friday,...
  
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• Wall Street opens sharply lower as oil drops

  10-06-2016 15:33 via news.yahoo.com
  
  (Reuters) - Wall Street opened lower for the second straight day on Friday as oil prices continued to fall, pressuring energy stocks amid investor worries of risks to global economic growth. The Dow Jones Industrial Average was down 84.85 points, or 0.47 percent, at 17,900.34. The S&P 500 was down 11.37 points, or 0.54 percent, at 2,104.11. The Nasdaq Composite was down 42.10 points, or 0.85 percent, at 4,916.51. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Savio D'Souza)
  
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• UPDATE 1-Dutch insurer ASR priced at 2.9 bln euros on market debut

  10-06-2016 14:28
  
  * SNS Bank next on list(Updates with background, quotes from CEO)
  
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• Stocks slip as Brexit jitters feed Bund bonanza

  10-06-2016 14:20 via news.yahoo.com
  
  By Marc Jones LONDON (Reuters) - Europe's benchmark government bond, the 10-year German Bund, had a zero yield firmly in its sights on Friday as worries about a potential British exit from the EU and weakened U.S. rate hike expectations extended the week's global bond rally. Wall Street was expected to see a subdued restart with the momentum that had appeared to be taking the S&P 500 back to all-time highs earlier in the week sapped all of a sudden as Europe fell almost 2 percent, its bigges
  
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• Global stocks slip as Brexit jitters feed Bund bonanza

  10-06-2016 14:18 via news.yahoo.com
  
  By Marc Jones LONDON (Reuters) - Europe's benchmark government bond, the 10-year German Bund, had a zero yield firmly in its sights on Friday as worries about a potential British exit from the EU and weakened U.S. rate hike expectations extended the week's global bond rally. Wall Street was expected to see a subdued restart with the momentum that had appeared to be taking the S&P 500 back to all-time highs earlier in the week sapped all of a sudden as Europe fell almost 2 percent, its bigges
  
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• South Africa's rand weakens as traders book profits

  10-06-2016 14:06 via news.yahoo.com
  
  South Africa's rand weakened more than one percent against the dollar on Friday, breaching key technical support levels as lower commodity prices and concerns about global growth hit emerging markets. "This pullback was to be expected," said market analyst at ETM Analytics Ricardo Da Camara. It looks like cooperates and banks saw those levels around 14.70 as a buying opportunity." The rand rallied to its firmest level in five weeks on Wednesday after Fitch affirmed South Africa's investment grad
  
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• Russia cuts key rate for first time in 10 months

  10-06-2016 13:51 via news.yahoo.com
  
  Russia's central bank cut its key interest rate by half a percentage point Friday, the first reduction in 10 months after the ruble recovered thanks to a bounce in oil and fading inflation fears. "The Bank of Russia Board of Directors decided to reduce the key rate from 11.00 to 10.50 percent," the bank said in a statement. Russia is desperate to breathe life into its energy-driven economy, which is mired in a recession caused mainly by the drop in oil prices and Western sanctions imposed over M
  
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• Economic, political dividends from soccer look slim for France

  10-06-2016 13:31 via news.yahoo.com
  * Soccer tournament kicks off as strikes plague France * Economists see modest 0.05 pct GDP boost overall * Popularity fillip for Hollande unlikely - pollster By Michel Rose and Simon Carraud PARIS, June 10 (Reuters) - Shaken by Islamist attacks and beset by strikes, France is hoping the "feel good factor" of a successful Euro 2016 soccer tournament will fire up a tentative economic recovery, although the direct impact will be short lived. France's economy has shown signs of renewed vigour in th
  
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• Futures tread lower as oil prices continue retreat

  10-06-2016 13:30 via news.yahoo.com
  
  * Despite higher demand, oil eased as traders booked profits after a three-day winning streak that started Monday, and as the dollar moved higher. * Wall Street ended lower on Thursday, with the S&P 500 and the Dow also snapping a three-day rally as lower oil prices wiped the sheen off materials and energy stocks and looming fears over global growth sent investors scurrying to safe haven assets. * Global issues, including uncertainty over interest rate hikes and the impending vote on Britain
  
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• Britain's FTSE falters as financial and commodity stocks fall

  10-06-2016 13:21
  
  * Brexit worries weigh on market(Adds detail and updates prices)
  
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• EU confirms Juncker to meet Putin in Russia next week

  10-06-2016 13:19 via news.yahoo.com
  
  European Commission President Jean-Claude Juncker will meet Russian President Vladimir Putin during an economic forum in St. Petersburg next week, an EU spokeswoman said on Friday. Confirming the EU chief executive's schedule for the coming week at a news briefing, the spokeswoman said Juncker would, as previously announced, attend the St. Petersburg International Economic Forum on Thursday and Friday and that while there he would hold his first meeting with Putin since November 2014.
  
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• Angola's sovereign fund steps up local private equity push

  10-06-2016 13:02 via news.yahoo.com
  By Ed Cropley LUANDA (Reuters) - Angola's $5 billion sovereign wealth fund is stepping up private equity investments at home and in sub-Saharan Africa as low commodity prices and currencies give it a cheap way in to hotel, farming and infrastructure projects, its chairman said. Jose Filomeno dos Santos, the 38-year-old London-educated son of President Jose Eduardo dos Santos, said the fund had earmarked 60 percent of its capital to regional private equity, a shift in focus towards its own back y
  
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• Under new chief, China's securities regulator pushes fixes ahead of MSCI deadline

  10-06-2016 13:01 via news.yahoo.com
  
  By Michelle Price HONG KONG (Reuters) - China's securities regulator has rushed through stock market rule changes under its new chairman in a bid to persuade MSCI to include domestic Chinese shares in one of its global benchmarks. The New York-based index provider will announce on June 14 if China has done enough to overcome investor concerns, which were heightened by its heavy-handed response last year to a stock market crash. A decision to allow yuan-denominated shares - or A shares - into its
  
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• Germany to host G20 summit in Hamburg on July 7-8 next year

  10-06-2016 12:53 via news.yahoo.com
  BERLIN (AP) — The German government says it will host a summit of the Group of 20 major world economic powers in Hamburg on July 7 and 8 next year.
  
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• Exclusive: Mitsubishi Motors to hire auditor to oversee errant tech unit - sources

  10-06-2016 12:36 via news.yahoo.com
  
  By Norihiko Shirouzu TOKYO (Reuters) - Japanese automaker Mitsubishi Motors plans to bring in an outside auditor to monitor its technology division, blamed for at least three high-profile cheating scandals, two people familiar with the thinking of the company's leadership said. This would partly be a response to the company's recent admission that it cheated on fuel economy tests for some models, and would be a way to "modernize" the division at a time of increasing competitive pressures in the
  
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• European stocks slump on economic unrest

  10-06-2016 12:36 via news.yahoo.com
  
  London (AFP) - European stock markets slumped on Friday following falls in Asia and on Wall Street, as traders expressed unease over central bank policy and Britain's looming referendum on EU membership.
  
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• French, Italian output points to rebound

  10-06-2016 12:00 via news.yahoo.com
  
  French industrial production rebounded in April, data showed Friday, fuelling recovery hopes in the eurozone's second-biggest economy. Industrial output rose 1.2 percent in April, after a 0.4-percent decline the previous month, lifted mostly by gains in transport goods and heavy machinery, statistics bureau Insee said. "French industrial production entered the second quarter on a strong footing," commented Unicredit economist Tullia Bucco.
  
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• Merkel says Russia sanctions no end in themselves, but implementing peace deal is key

  10-06-2016 11:58 via news.yahoo.com
  
  BERLIN (Reuters) - German Chancellor Angela Merkel said on Friday that sanctions imposed against Russia over the Ukraine crisis were not an end in themselves and that implementation of the Minsk peace agreement was key to getting them lifted. Merkel also said that in the long term, the European Union should aim for a common economic zone with Moscow which would extend from Russia's Pacific port of Vladivostok to Lisbon. "We should move gradually towards this goal," she said, speaking at a corpor
  
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• Messaging app Line to make trading debut in Tokyo, New York

  10-06-2016 11:15 via news.yahoo.com
  
  Messaging app Line said Friday it will make its stock market debut in Tokyo and New York next month, in a bid to expand beyond its popularity among smartphone users in Asia. The Japan-based firm won regulatory approval for the sale -- likely to be among the biggest IPOs this year -- with the dual listing expected to raise as much as 113 billion yen ($1.05 billion), including an option to sell more shares if demand is strong. The deal would value Line at about $5.5 billion, and was described by B
  
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• French output points to rebound

  10-06-2016 10:47 via news.yahoo.com
  
  French industrial production rebounded in April, data showed Friday, fuelling recovery hopes in the eurozone's second-biggest economy. "French industrial production entered the second quarter on a strong footing," commented Unicredit economist Tullia Bucco. Italy, the eurozone's third-biggest economy after Germany and France, also reported rising industrial production on Friday.
  
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