Finance news

• World stocks mostly fall on Brexit warnings

  16-06-2016 23:51 via news.yahoo.com
  
  World stock markets mostly fell Thursday as new polls showed a rise in British support for exiting the European Union, adding to concerns over the economic outlook.
  
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• Sterling gains, S&P 500 snaps five-day losing streak

  16-06-2016 23:51 via news.yahoo.com
  
  Sterling rose versus the dollar and U.S. stocks broke a five-day losing streak on Thursday as campaigning for Britain's vote on whether to leave the European Union was temporarily suspended following the shooting death of a pro-EU British lawmaker. Oil prices fell for a sixth straight session on global economic worries. British Member of Parliament Jo Cox, who was shot dead in the street in her constituency in northern England earlier in the day, had been a vocal supporter of Britain remaining w
  
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• Hedge fund industry shrinks in first quarter-HFR data

  16-06-2016 23:50
  
  NEW YORK (Reuters) - The hedge fund industry shrank in the first quarter, meaning fewer choices of funds for investors and those funds overseeing slightly less money, data released on Thursday showed.
  
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• Morgan Stanley global commodities co-head Peter Sherk to leave firm: memo

  16-06-2016 23:29
  
  (Reuters) - Morgan Stanley global commodities group co-head Peter Sherk is leaving the firm, the bank said Thursday in a memo.
  
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• Dow Chemical first foreign company to get Saudi Arabia trading license

  16-06-2016 23:18 via news.yahoo.com
  
  (Reuters) - Dow Chemical Co said it became the first foreign company to receive a trading license from Saudi Arabia as the kingdom plans to diversify its economy and free its dependence on oil exports amid a slump in global oil prices. Saudi Arabia's powerful deputy crown prince Mohammed bin Salman held a full day of meetings with U.S. lawmakers on Wednesday, part of a visit aimed at restoring frayed ties with Washington and promoting his plan to wean the kingdom away from oil revenue. The tradi
  
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• Exclusive: Canada's Saskatchewan may scrap potash royalty review - minister

  16-06-2016 23:01 via news.yahoo.com
  
  Saskatchewan is considering whether to end a review of its potash royalty system, the economy minister of the Canadian province said, as producers of the crop nutrient struggle with low prices. The province had said any changes would be revenue-neutral to its treasury, but Potash Corp of Saskatchewan raised concerns last year when the cash-strapped government took an interim step to boost its revenues. "Part of the discussion is whether or not we do anything at the moment or whether we hold off
  
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• Gun shares, volatile after Orlando killing, rise ahead of Smith & Wesson report

  16-06-2016 22:50 via news.yahoo.com
  
  Shares of firearm makers rose on Thursday ahead of Smith & Wesson Holding's quarterly report, following volatility this week after a shooting attack that killed 49 people at a gay nightclub in Orlando. In a familiar stock market reaction, Smith & Wesson and rival Sturm Ruger & Co spiked as much as 11 percent on Monday after the massacre on Sunday, the deadliest mass shooting in modern U.S. history. Ahead of Smith & Wesson's quarterly report after the market close, its shares gain
  
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• In or out of index, China not a bet worth taking: James Saft

  16-06-2016 22:48
  
  (Reuters) - Chinese domestic equities are best avoided, and the reasons go beyond those cited by MSCI in delaying their inclusion in benchmark indices.
  
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• Wall Street rebounds, snaps five-day losing streak

  16-06-2016 22:25 via news.yahoo.com
  
  A British Member of Parliament was shot dead in the street in northern England, causing the temporary suspension of campaigning for next week's referendum on EU membership. The lawmaker, Jo Cox, had been a vocal supporter of Britain remaining in the European Union. The Dow Jones industrial average rose 92.93 points, or 0.53 percent, to 17,733.1, the S&P 500 gained 6.49 points, or 0.31 percent, to 2,077.99 and the Nasdaq Composite added 9.98 points, or 0.21 percent, to 4,844.92.
  
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• Pimco plans to cut about 3 percent of global workforce: memo

  16-06-2016 22:21
  
  NEW YORK (Reuters) - Pacific Investment Management Co plans to cut about 3 percent of its workforce in the wake of a drop in assets under management since the 2014 departure of co-founder Bill Gross,...
  
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• Argentina's Macri stamps out symbols of leftist predecessors

  16-06-2016 22:02 via news.yahoo.com
  
  By Nicolás Misculin BUENOS AIRES (Reuters) - Argentina's center-right President Mauricio Macri is taking down portraits and closing museums and other tributes to his left-leaning predecessors, getting rid of their cultural legacies as well as their populist economic policies. Since taking over for Cristina Fernandez in December, Macri has removed sculptures of her late husband and former president Nestor Kirchner and of Juan Perón, the namesake of Argentina's most influential polit
  
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• Oil slides 4 percent on worry of market turmoil if UK leaves EU

  16-06-2016 21:56 via news.yahoo.com
  
  Oil prices slumped about 4 percent and hit one-month lows on Thursday, settling down for a sixth straight day, on fears of global economic turmoil if Britain exits the European Union. This time around, a resurgent dollar is hammering crude futures and other commodities on speculation that Britain could vote to end its EU membership. The dollar hit two-week highs, then eased back on the sterling's strength as Britain suspended campaigning over its EU membership status after a deadly attack on a M
  
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• OECD forecasts stronger US growth in 2017

  16-06-2016 21:18 via news.yahoo.com
  WASHINGTON (AP) — A Paris-based international group is forecasting that the U.S. economic expansion, celebrating its seventh birthday this month, should remain on track over the next two years with growth strengthening in 2017.
  
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• Guess who's shopping at dollar stores? Well-to-do millennials

  16-06-2016 21:06
  
  (Reuters) - Victoria Marin, a 35-year old author and educator, used to spend hundreds of dollars at large party-goods retailers on supplies that ended up in the trash can.
  
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• Wall Street erases losses as Brexit campaigning suspended

  16-06-2016 20:48 via news.yahoo.com
  
  Wall Street erased losses on Thursday as investors sought to digest the implications of a British lawmaker's death on the country's impending referendum to leave the European Union. The S&P 500 index edged higher after five straight sessions of losses, a day after the Federal Reserve left interest rates unchanged but signalled it still planned two hikes this year. A British member of Parliament was shot dead in the street in northern England, causing the temporary suspension of campaigning f
  
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• Ukraine furious over remarks on Russia by U.N. chief Ban

  16-06-2016 20:45 via news.yahoo.com
  By Louis Charbonneau UNITED NATIONS (Reuters) - The Kiev government is outraged by remarks made by United Nations Secretary-General Ban Ki-moon about the crucial role Russia can play in ending conflicts, and no longer believes he has any moral authority, Ukraine's U.N. envoy said on Thursday. Ban's prepared speech for the St. Petersburg International Economic Forum said Russia "has a critical role to play ... in addressing other pressing global issues, from ending the conflicts in Ukraine and Sy
  
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• IMF says Brexit could further weaken eurozone ties

  16-06-2016 20:45 via news.yahoo.com
  
  The International Monetary Fund warned Thursday that a British vote next week to break with the European Union could stifle economic growth and weaken the ties that bind the eurozone. "A 'leave' vote in the UK referendum, or even a close result in favor of remaining, could exacerbate these tensions, contributing to further Euroscepticism and uncertainty," the Fund said. "Out of respect for today's tragic event in the UK, and with the agreement of the UK authorities, the IMF is delaying by 24 hou
  
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• CEO injects philanthropy into family's culture of money

  16-06-2016 20:42
  
  NEW YORK (Reuters) - Julie Smolyansky has spent more than a decade as chief executive officer of her family's successful business, but her path to the corner office was unplanned.
  
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• Juncker warns Russia on sanctions, meets Putin

  16-06-2016 20:14 via news.yahoo.com
  
  EU Commission head Jean-Claude Juncker warned Russia Thursday that the 28-nation bloc will only lift its sanctions if the Kremlin fully implements a Ukraine peace deal. "The next step is clear: full implementation of the agreement -- no more, no less," Juncker told Russia's main economic forum in Saint Petersburg ahead of a meeting with President Vladimir Putin.
  
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• Stock indexes mostly lower as British vote looms

  16-06-2016 20:13 via news.yahoo.com
  
  NEW YORK (AP) — Stocks were mostly lower for a sixth day Thursday as investors continued to brace for next week's vote on whether Britain would remain a member of the European Union. Japanese stocks plunged 3 percent after the Bank of Japan decided not to increase its economic stimulus efforts.
  
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• Sterling gains as Brexit campaigning suspended

  16-06-2016 20:06 via news.yahoo.com
  
  Sterling advanced on Thursday as campaigning for Britain's vote on whether to leave the European Union was suspended following the murder of a British lawmaker, while U.S. stocks cut losses. British Member of Parliament Jo Cox, who was shot dead in the street in her constituency in northern England earlier in the day, had been a vocal supporter of Britain remaining within the EU. Whether Britain will leave the European Union, dubbed "Brexit," is an issue that will be decided in a referendum next
  
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• Brexit to hurt large U.S. banks' 2016 earnings by 1-6 percent: KBW

  16-06-2016 20:02 via news.yahoo.com
  
  (Reuters) - Earnings of large U.S. banks would be hit by 1-6 percent this year if Britons vote in favor of leaving the European Union next week, according to brokerage Keefe, Bruyette & Woods (KBW).
  
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• IMF says delays publication of report on British economy after MP shooting

  16-06-2016 19:56 via news.yahoo.com
  The International Monetary Fund said it had delayed the publication of a staff report on the British economy by 24 hours following the shooting of a British member of Parliament earlier on Thursday. The report had been scheduled for publication on Thursday, Washington time.
  
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• Average US 30-year mortgage falls to 3.54 percent

  16-06-2016 19:38 via news.yahoo.com
  WASHINGTON (AP) — Long-term U.S. mortgage rates fell this week for a second straight week amid continued global economic concerns. The average rates touched their lowest points in 52 weeks.
  
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• Eurozone approves bailout payment to Greece

  16-06-2016 19:04 via news.yahoo.com
  
  Eurozone finance ministers agreed on Thursday to unlock 7.5 billion euros ($8.4 billion) in urgently needed cash for Greece, saving Athens financially for a few months. "This is a welcome breath of oxygen for the Greek economy," said the European Union's top economic affairs official, Pierre Moscovici, after a meeting with the 19 ministers from the countries that use the euro. The ministers met in Luxembourg and officially unblocked the money that will allow the Greek government to meet two huge
  
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• U.S. sanctions agency beefs up staff to help implement Iran deal

  16-06-2016 19:03 via news.yahoo.com
  By Yeganeh Torbati WASHINGTON (Reuters) - The chief U.S. agency in charge of implementing sanctions has added staff to help speed up processing applications from businesses hoping to trade with Iran, a U.S. Treasury official said on Thursday. The beefing up of the U.S. Treasury's Office of Foreign Assets Control comes as businesses and lawyers say that often the answers they receive from the agency on whether certain trade is allowed in Iran is vague, non-committal and too slow to facilitate fas
  
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• Monsanto to form sorghum joint venture with private company

  16-06-2016 19:01
  
  (Reuters) - U.S. seed and agrochemicals company Monsanto Cosaid on Thursday it is selling its U.S. sorghum production assets to Remington Holding Co LLC and will roll its sorghum breeding business...
  
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• S&P, Dow on track for longest losing streak since August

  16-06-2016 18:54 via news.yahoo.com
  
  The Fed kept short-term interest rates unchanged on Wednesday but said it continued to expect two rate hikes this year. Fed Chair Janet Yellen sounded caution that the central bank needed to see more clear signs of economic strength before lifting rates and threw some blame of her current stance on the June 23 Britain vote on its membership in the EU.
  
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• Stock indexes fall yet again as British vote looms

  16-06-2016 18:10 via news.yahoo.com
  
  NEW YORK (AP) — Stocks were declining for a sixth day Thursday as investors continued to brace for next week's vote on whether Britain would remain a member of the European Union. Japanese stocks plunged 3 percent after the Bank of Japan decided not to increase its economic stimulus efforts.
  
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• Yen jumps as BoJ holds off easing; oil prices drop

  16-06-2016 17:47 via news.yahoo.com
  
  The yen jumped to its highest level in more than three years against the euro on Thursday after the Bank of Japan refrained from further stimulus, while oil prices and bond yields tumbled ahead of next week's British vote on EU membership. A vote by Britain to leave the European Union could undermine decades of European integration as well as create further global economic uncertainty. The Federal Reserve on Wednesday lowered its economic growth forecast for this year and the next, while worries
  
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• S&P, Dow poised for worst losing streak since August

  16-06-2016 17:47 via news.yahoo.com
  
  The S&P and the Dow were down for the sixth day, a streak unseen since August, as the Federal Reserve's comments about an economic slowdown and the prospect of Britain's possible exit from the European Union spooked investors. The Fed kept short-term interest rates unchanged on Wednesday but said it continued to expect two rate hikes this year. Fed Chair Janet Yellen sounded caution that the central bank needed to see more clear signs of economic strength before lifting rates and threw some
  
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• TSX falls as banks, energy stocks weigh with lower oil

  16-06-2016 17:29 via news.yahoo.com
  
  TORONTO (Reuters) - Canada's main stock index fell on Thursday as financial and energy stocks dragged due to lower oil prices and a dim economic outlook as mounting risk that Britain will leave the European Union weighed on global stock markets. Meanwhile, gold miners extended recent gains as bullion hit a two-year peak, and the 19 most influential gainers were all materials stocks. At 10:53 a.m. EDT (1453 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 100.24 points, or
  
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• Anxious EU appeals to Britons to stay, warns of costs

  16-06-2016 17:26 via news.yahoo.com
  By Alastair Macdonald BRUSSELS (Reuters) - Anxious European leaders issued a chorus of calls to Britons on Thursday to stay in the European Union rather than risk years of economic damage, but the prime minister whose country will chair the EU from July said it must prepare for a Brexit. From German Chancellor Angela Merkel, to the heads of the EU institutions in Brussels and the man who forged the modern EU, Jacques Delors, they said remaining would be better for Britain and Europe - though awa
  
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• BP unlikely to invest in Saudi Aramco IPO: CEO

  16-06-2016 17:21
  
  MOSCOW (Reuters) - Oil major BP Plcis unlikely to invest in Saudi Aramco's IPO, Chief Executive Bob Dudley told reporters at the St Petersburg International Economic Forum on Thursday.
  
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• Wall Street treads lower on Fed warning, Brexit vote

  16-06-2016 16:05 via news.yahoo.com
  
  The Fed said it continued to expect two hikes this year but the consensus seemed shakier with six of the 17 policymakers projecting just one hike. Fed Chair Janet Yellen sounded caution that the central bank needed to see more clear signs of economic strength before lifting rates and threw some blame of her current stance on the June 23 Britain vote on its membership in the EU. The central bank also lowered its economic growth forecast for this year and the next to 2 percent from 2.1 percent.
  
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• TSX falls as lower oil and Brexit risk weigh

  16-06-2016 15:37 via news.yahoo.com
  
  TORONTO (Reuters) - Canada's main stock index fell on Thursday, including losses for financial and energy shares as oil prices fell and mounting risk that Britain will leave the European Union weighed on global stock markets. The Toronto Stock Exchange's S&P/TSX composite index was down 46.32 points, or 0.33 percent, at 13,877.13, shortly after the open. Nine of the index's 10 main groups were lower. (Reporting by Fergal Smith; Editing by Chizu Nomiyama)
  
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• Wall Street set to open lower on Fed warning, Brexit vote

  16-06-2016 15:25 via news.yahoo.com
  
  Wall Street was set to open lower on Thursday, a day after the Federal Reserve's warning about an economic slowdown added to concerns of Britain's possible exit from the European Union. The Fed said it continued to expect two hikes this year but the consensus seemed shakier with six of the 17 policymakers projecting just one hike. Fed Chair Janet Yellen sounded caution that the central bank needed to see more clear signs of economic strength before lifting rates and threw some blame of her curre
  
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• Housing, medical care support U.S. underlying inflation

  16-06-2016 15:16 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer prices moderated in May, but sustained increases in housing and healthcare costs kept underlying inflation supported, which could allow the Federal Reserve to raise interest rates this year. While another report on Thursday showed an increase in the number of Americans applying for unemployment benefits last week, the trend remained consistent with a healthy labor market. The data came a day after the Fed downgraded its assessment of the job
  
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• Nigerian central bank "optimistic" naira will settle at 250 per dollar: document

  16-06-2016 15:04 via news.yahoo.com
  
  By Joe Brock ABUJA (Reuters) - Nigeria's central bank is "reasonably optimistic" the naira will settle at around 250 to the U.S. dollar after an initial period of weakness following a flotation on Monday, the bank's governor has said in a letter to President Muhammadu Buhari. Nigeria's central bank said on Wednesday it would begin market-driven foreign currency trading next week, abandoning the peg of 197 naira per dollar that it has supported for 16 months. Foreign investors and economists have
  
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• Glencore plans to sell option in Falco's Horne gold project: sources

  16-06-2016 15:03
  
  LONDON (Reuters) - Glencoreis planning to sell its option in a gold mine owned by Falco Resources , two sources familiar with the situation said on Thursday, as the mining group and commodities...
  
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• Kuka wants agreement with suitor Midea on German jobs - source

  16-06-2016 14:56
  
  MUNICH (Reuters) - Kuka aims to obtain a formal agreement from China's Midea to preserve German jobs and sites after its planned takeover of the industrial robot maker, a person familiar with the...
  
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• EU's Tusk warns over 'really dangerous' Brexit

  16-06-2016 13:49 via news.yahoo.com
  European Council President Donald Tusk warned on Thursday that the economic and political consequences of Britain leaving the EU would be dangerous for both Britain and the rest of the Europe. Britons vote on June 23 on the future of their membership of the European Union, with a poll on Thursday showing 53 percent would vote to leave the bloc. "I have no doubt that the direct results of potential Brexit will be really dangerous for our economy, in the UK and the rest of the Europe," Tusk, who c
  
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• EU's Juncker: Brexit would create global uncertainty

  16-06-2016 13:49 via news.yahoo.com
  ST PETERSBURG, Russia (Reuters) - European Commission President Jean-Claude Juncker said on Thursday Britain leaving the European Union would open a period of global uncertainty which should be avoided. Juncker was speaking at the St Petersburg International Economic Forum in Russia ahead of talks with Russian President Vladimir Putin. (Reporting by Christian Lowe; Writing by Jack Stubbs; Editing by Maria Kiselyova)
  
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• World stocks resume slide on Brexit warnings

  16-06-2016 13:46 via news.yahoo.com
  
  Stock markets headed south once more Thursday on worries over the economic outlook, notably because of a possible Brexit, triggering a rush for haven investments like the yen and gold. Europe's main stock markets were down around half a percent in early afternoon deals after Tokyo dived 3.1 percent by the close, one week before a knife-edge referendum on Britain's membership of the European Union. Federal Reserve boss Janet Yellen on Wednesday sounded a fresh warning over a possible British exit
  
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• Futures lower as Fed comments, Brexit vote spook investors

  16-06-2016 13:36 via news.yahoo.com
  
  The Fed kept borrowing rates at 0.25 percent-0.30 percent and said it continued to expect two hikes this year, but the consensus seemed shakier with six of the 17 policymakers projecting just one hike. Fed Chair Janet Yellen sounded caution that the central bank needed to see more clear signs of economic strength before lifting rates and threw some blame of her current stance on the June 23 Britain vote on its membership in the EU. The Fed lowered its economic growth forecast for this year and t
  
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• European stocks, oil slide as growth fears add to Brexit pressure

  16-06-2016 13:34 via news.yahoo.com
  
  By Vikram Subhedar LONDON (Reuters) - European shares hit a four-month low on Thursday as banks dropped sharply, while oil prices headed for a sixth session of losses after the Bank of Japan refrained from further stimulus and the U.S. central bank struck a cautious note. U.S. stock index futures were down around 0.4 percent, indicating a lower Wall Street open. Sterling hit a two-month low against the euro, underscoring worries that Britain, the world's fifth-largest economy, will vote to quit
  
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• Deutsche Telekom eyes bid for webhosting group Host Europe: sources

  16-06-2016 12:58
  
  FRANKFURT/LONDON (Reuters) - Deutsche Telekomis eyeing a bid for web hosting provider Host Europe Group (HEG) as it seeks to beef up its cloud operations, five sources close to the matter said.
  
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• BRIEF-Paragon shipping says discharged from all obligations under loan agreement

  16-06-2016 12:51
  
  * Discharged from all obligations under loan agreement,
  including a waiver of outstanding debt amount of $8.3 millionSource text for Eikon:Further company coverage:
  (Bengaluru Newsroom:...
  
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• Unilever boss and predecessors want UK to remain in EU

  16-06-2016 12:32 via news.yahoo.com
  By Martinne Geller LONDON (Reuters) - Unilever Chief Executive Paul Polman and his three predecessors have expressed support for Britain remaining in the European Union, saying the Anglo-Dutch consumer goods giant would be "negatively impacted" by Brexit. "We therefore hope that in the interests of Unilever, the UK, Europe, and indeed the wider global economy, the UK will choose to remain and thereby continue to play a central role in Unilever's long-term growth and prosperity," the executives s
  
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• Tencent nears $6.6 billion deal to buy majority stake in Supercell: source

  16-06-2016 12:30
  
  (Reuters) - Tencent Holdings Ltdis nearing a $6.6 billion deal to buy a majority stake in Finland's Supercell Oy, a person familiar with the matter said, in what would be the biggest-ever purchase...
  
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