Finance news

• Hershey rejects $23 billion Mondelez takeover offer

  30-06-2016 23:25
  
  (Reuters) - Hershey Cosaid on Thursday it had rejected a $23 billion preliminary offer by Mondelez International Incthat would seek to expand the latter's limited U.S. footprint and create the...
  
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• Exclusive: Apple Leisure explores sale amid Chinese interest - sources

  30-06-2016 23:14
  
  (Reuters) - Apple Leisure Group, a resort operator in the Caribbean and Mexico, is exploring a sale that could value it at more than $1.5 billion, including debt, after attracting interest from...
  
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• UK stock index above pre-vote level: Crisis over? Not likely

  30-06-2016 23:06 via news.yahoo.com
  
  LONDON (AP) — Don't be fooled: the rebound in Britain's main stock market to where it was before the vote to leave the European Union does not mean all is now fine for the country's economy.
  
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• Dick's wins auction for Sports Authority brand

  30-06-2016 23:04
  
  (Reuters) - Dick's Sporting Goods Inc , the largest U.S. sporting goods retailer, said on Thursday it was the successful bidder in the auction for the intellectual property of bankrupt competitor...
  
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• Goldman exec tells Libya fund trial that offering prostitutes 'unacceptable'

  30-06-2016 23:03 via news.yahoo.com
  
  By Carolyn Cohn LONDON (Reuters) - A Goldman Sachs executive's alleged arranging of prostitutes for himself and the brother of a decision-maker at Libya's sovereign wealth fund was completely unacceptable behaviour for an employee of the bank, the first witness called by Goldman told a court on Thursday. In a trial at London's High Court, the Libyan Investment Authority (LIA) is attempting to claw back $1.2 billion (906.34 million pounds) from the Wall Street investment bank from nine disputed t
  
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• Global stocks rise, bond yields subdued as more stimulus eyed

  30-06-2016 22:49 via news.yahoo.com
  
  By Edward Krudy NEW YORK (Reuters) - World stocks rose for a third straight day and bond yields hovered near record lows as investors expected additional stimulus measures from central banks in the wake of Britain's vote to leave the European Union and as the Bank of England raised the prospect of bond buying this summer. Renewed concerns over global growth and oversupply forced oil prices down again as both Brent and U.S. crude traded below $50 per barrel. Sterling reversed its gains as Bank of
  
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• Wall St. rallies for third day as Brexit bruises fade

  30-06-2016 22:24 via news.yahoo.com
  
  Wall Street rolled to a third straight day of gains on Thursday as Britain's central bank raised the prospect of stimulus and consumer staples shares gained on news of Mondelez International's $23 billion bid for Hershey. In the wake of the referendum, Bank of England Governor Mark Carney said on Thursday that the central bank would probably need to pump more stimulus into Britain's economy over the summer.
  
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• Wall Street rallies for third day as Brexit bruises fade

  30-06-2016 22:23 via news.yahoo.com
  
  In the wake of the referendum, Bank of England Governor Mark Carney said on Thursday that the central bank would probably need to pump more stimulus into Britain's economy over the summer. "We’re reversing the 'Brexit' as it becomes evident that it was more of a political vote and decision than an economic decision," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.
  
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• US STOCKS-Wall St rallies for 3rd day as Brexit bruises fade

  30-06-2016 22:22 via news.yahoo.com
  Wall Street rolled to a third straight day of gains on Thursday as Britain's central bank raised the prospect of stimulus and consumer staples shares gained on news of Mondelez International (Xetra: A1J4U0 - news) 's $23 billion bid for Hershey. In the wake of the referendum, Bank of England Governor Mark Carney said on Thursday that the central bank would probably need to pump more stimulus into Britain's economy over the summer.
  
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• Disney to buy stake in MLB's video unit for $3.5 billion: Bloomberg

  30-06-2016 22:17
  
  (Reuters) - Walt Disney Cohas agreed to buy 33 percent stake in the video unit of Major League Baseball's digital arm MLB Advanced Media in a deal valued at about $3.5 billion, Bloomberg reported,...
  
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• Film studio Lionsgate to buy Starz for $4.4 billion

  30-06-2016 22:16
  
  (Reuters) - Lions Gate Entertainment Corp , the film studio behind the Hunger Games movies, said Thursday it would buy premium television network Starzfor $4.4 billion in cash and stock, in a deal...
  
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• Wall Street rallies for third straight day

  30-06-2016 22:05 via news.yahoo.com
  
  NEW YORK (Reuters) - Wall Street rolled to a third straight day of gains on Thursday as Britain's central bank raised the prospect of stimulus and consumer staples shares gained on news of Mondelez International's $23 billion bid for Hershey.
  
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• Chesapeake Partners to shut hedge fund, cites M&A woes

  30-06-2016 21:59
  
  BOSTON (Reuters) - Chesapeake Partners, a $1.4 billion hedge fund that bet on special situations including mergers, bankruptcies and spin-offs, is shutting down after an 18-month stretch of losses,...
  
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• Sterling tumbles after dovish comments from BoE's Carney

  30-06-2016 21:50 via news.yahoo.com
  
  By Sam Forgione NEW YORK (Reuters) - The U.S. dollar gained against the sterling and the euro on Thursday, snapping two straight days of losses, after Bank of England Governor Mark Carney said he saw the need for more stimulus and a Bloomberg report hinted at more European Central Bank easing. Carney said that the BoE would probably need to pump more stimulus into Britain's economy over the summer after the shock of last week's decision by voters to leave the European Union. Investors were alrea
  
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• St. Louis Fed's Bullard repeats low rate outlook detailed in earlier speech

  30-06-2016 21:03
  
  WASHINGTON, June 30 (Reuters) - St. Louis Fed President
  James Bullard in a speech in London on Thursday repeated the new
  monetary policy framework, including just a single rate hike for
  the...
  
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• Global equities rise, bond yields subdued as more stimulus seen

  30-06-2016 20:48 via news.yahoo.com
  
  By Edward Krudy NEW YORK (Reuters) - World stock markets rose for a third day and bond yields hovered around record lows as investors expected more stimulus from central banks in the wake of Britain's vote to leave the EU and as the Bank of England raised the prospect of bond buying this summer. Renewed concerns over global growth and oversupply forced oil prices down again as both Brent and U.S. crude traded below $50 per barrel. Sterling reversed gains as Bank of England Governor Mark Carney s
  
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• Wall St. rallies for third day, healing Brexit wounds

  30-06-2016 20:47 via news.yahoo.com
  
  Wall Street posted solid gains for a third straight day on Thursday as Britain's central bank raised the prospect of stimulus and consumer staples shares gained on news of Mondelez International's $23 billion bid for Hershey. The three U.S. indexes were each up at least 1 percent, and have erased the bulk of their losses in the wake of Britain's shock vote a week ago to leave the European Union that set off the worst two-day decline for Wall Street in 10 months. In the wake of the referendum, Ba
  
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• Wall Street rallies for third day, healing Brexit wounds

  30-06-2016 20:45 via news.yahoo.com
  
  The three U.S. indexes were each up at least 1 percent, and have erased the bulk of their losses in the wake of Britain's shock vote a week ago to leave the European Union that set off the worst two-day decline for Wall Street in 10 months. In the wake of the referendum, Bank of England Governor Mark Carney said on Thursday that the central bank would probably need to pump more stimulus into Britain's economy over the summer.
  
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• US STOCKS-Wall St rallies for 3rd day, healing Brexit wounds

  30-06-2016 20:43 via news.yahoo.com
  Wall Street posted solid gains for a third straight day on Thursday as Britain's central bank raised the prospect of stimulus and consumer staples shares gained on news of Mondelez International (Xetra: A1J4U0 - news) 's $23 billion bid for Hershey.
  
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• UPDATE 1-Mexico central bank hikes aggressively to counter peso dive

  30-06-2016 20:38
  
  MEXICO CITY, June 30 (Reuters) - Mexico's central bank
  aggressively raised its key interest rate more than expected on
  Thursday in a bid to support the peso and calm concerns that
  currency weakness...
  
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• BRIEF-Fitch rates Oregon's $593 mlm tax anticipation notes 'F1+'

  30-06-2016 20:38
  
  * Fitch rates Oregon's $593 mlm tax anticipation notes 'F1+'Source text for Eikon:
  
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• UPDATE 2-Bank of England's Carney sees need for summer stimulus after Brexit shock

  30-06-2016 20:33
  
  * Carney says won't bow to critics in national politics(Adds reaction, detail on BoE's policy options)
  
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• UPDATE 2-Argentina announces two-part US dollar bond: source

  30-06-2016 20:20
  
  NEW YORK, June 30 (IFR) - The Republic of Argentina
  announced a two-part US dollar bond sale on Thursday, just three
  months after its historic return to the international capital
  markets.
  
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• TREASURIES-U.S. yields retreat after S&P downgrades EU

  30-06-2016 20:12
  
  NEW YORK, June 30 (Reuters) - Longer-dated U.S. Treasury
  yields scaled back from earlier peaks on Thursday after Standard
  & Poor's lowered its long-term credit rating on the European
  Union by a notch...
  
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• GLOBAL MARKETS-Equities rise, bond yields subdued as more stimulus seen

  30-06-2016 20:11
  
  * PBOC willing to let yuan fall further this year(Updates market activity)
  
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• Mexico's peso strengthens after central bank hikes rates

  30-06-2016 20:09
  
  MEXICO CITY, June 30 (Reuters) - Mexico's peso strengthened
  more than 1 percent on Thursday after the central bank announced
  it would raise interest rates by 50 basis points.
  
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• S&P cuts rating on EU to 'AA' after Brexit

  30-06-2016 20:06 via news.yahoo.com
  
  S&P is the first major ratings agency to cut rating on the EU. "After the decision by the UK electorate to leave the EU...we have reassessed our opinion of cohesion within the EU, which we now consider to be a neutral rather than positive rating factor," S&P said. The UK voted to leave the European Union last week, plunging global markets into turmoil.
  
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• BRIEF-Highland Copper to convert C$10 million loan into royalty

  30-06-2016 20:05
  
  * Highland Copper announces conversion of C$10 million loan
  into royalty
  
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• Wall Street rallies after BoE governor hints at stimulus

  30-06-2016 19:54 via news.yahoo.com
  
  Wall Street rose in afternoon trading on Thursday after Bank of England Governor Mark Carney raised the prospect of an interest rate cut following Britain's vote to leave the European Union. Carney's comments added more steam to a recovery rally after a two-day post-Brexit carnage that erased about $3 trillion from global markets. Carney said monetary policy easing would likely be required over the summer and that the BoE had measures in place to prop up the country's economy and its vast bankin
  
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• ArcelorMittal, Italy's CDP lead rival bids to buy Ilva steel plant

  30-06-2016 19:53
  
  ROME (Reuters) - ArcelorMittaland Italy's Marcegaglia have offered to acquire Italian steel plant Ilva, pitting themselves against a rival joint bid by Italy's state lender CDP, businessman...
  
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• BRIEF-Hines REIT announces plans for liquidation and dissolution of company

  30-06-2016 19:50
  
  * Board of directors unanimously voted to approve a plan for
  liquidation and dissolution of company
  
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• UPDATE 1-Dick's set to win auction for Sports Authority brand-sources

  30-06-2016 19:25
  
  June 30 (Reuters) - Dick's Sporting Goods Inc, the
  largest U.S. sporting goods retailer, is set to win the auction
  for the intellectual property of bankrupt competitor Sports
  Authority with a bid of...
  
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• Ex-congressman Grimm's restaurant partner gets 6 months in prison

  30-06-2016 19:21 via news.yahoo.com
  
  A onetime business partner of former U.S. Representative Michael Grimm was sentenced to six months in prison on Thursday after pleading guilty on Tuesday to a tax charge in a case related to an investigation of the convicted Republican politician. Bennett Orfaly, 52, was sentenced by U.S. District Judge Pamela Chen after pleading guilty in April to having aided and assisted in the preparation of a false tax return. While his plea pertained only to a tax return for the Pita Grill Murray Hill rest
  
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• Wall Street rallies after Bank of England governor hints at stimulus

  30-06-2016 19:11 via news.yahoo.com
  
  Carney said monetary policy easing would likely be required over the summer and that the BoE had measures in place to prop up the country's economy and its vast banking sector. "Central banks are doing their best to step in and send stocks higher," said Adam Sarhan, chief executive officer of Sarhan Capital. Investors will keenly watch St. Louis Fed President James Bullard's speech on U.S. monetary policy outlook for clues on the Fed's take on policy easing.
  
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• News Corp bolsters UK soccer line-up with talkSPORT deal

  30-06-2016 19:07
  
  LONDON (Reuters) - Rupert Murdoch's News Corphas agreed to buy the owner of Britain's talkSPORT in a $292 million deal that unites The Sun newspaper's sports coverage with the commercial radio...
  
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• Cash-heavy mutual fund managers buying on 'Brexit' volatility

  30-06-2016 19:04
  
  NEW YORK (Reuters) - Cash-heavy U.S. mutual fund managers are taking the sell-off triggered by Britain's decision to leave the European Union as an opportunity buy into U.S. companies ranging from...
  
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• Global stocks up as Bank of England eyes post-Brexit rates cut

  30-06-2016 18:42 via news.yahoo.com
  
  World shares rose Thursday as Britain's central bank hinted at interest rate cuts to limit the impact of the country's vote to quit the EU, sending the British pound tumbling against the euro. After a day of further political drama, London shares closed strongly higher with a late-session flurry, after Bank of England chief Mark Carney sought to reassure financial markets in the wake of last week's Brexit vote. "The economic outlook has deteriorated and some monetary policy easing will likely be
  
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• FTSE ends June on 2016 high

  30-06-2016 18:40 via news.yahoo.com
  Britain's top share index closed on Thursday at its highest level for 2016, having completely rebounded from a substantial sell-off in the wake of the country's vote to leave the EU. Despite turmoil in the markets following the referendum a week ago, Britain's FTSE 100 index ended June up 4.4 percent for the month, its biggest monthly gain since October. Comments by Bank of England Governor Mark Carney that the central bank would probably need to pump more stimulus into Britain's economy over th
  
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• Iran sacks heads of four state banks over high pay

  30-06-2016 18:39 via news.yahoo.com
  
  Iran has sacked the heads of four public banks after their exorbitant salaries sparked widespread criticism and an intervention by the Islamic republic's supreme leader, state news agency IRNA said Thursday. "At the request of the president to investigate the issue of salaries, the heads of Mehr Iran, Mellat, Refah and Saderat banks have been replaced on the orders of the economy minister for receiving unconventional salaries and loans," IRNA said, quoting an unnamed official. Economy Minister A
  
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• BoE's Carney says will not quit if critics come to power

  30-06-2016 18:37 via news.yahoo.com
  Bank of England Governor Mark Carney said it would be wrong for him or any of his colleagues to quit if critics of the central bank's stance in the European Union referendum come to power following Prime Minister David Cameron's decision to resign. Before Britain voted to leave the EU last week, Carney said this would bring short-term market turmoil and negative medium-term economic consequences, drawing criticism from the subsequently victorious Vote Leave campaign, which questioned his motivat
  
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• U.S. data offers hope for manufacturing; jobs market steady

  30-06-2016 18:02 via news.yahoo.com
  
  Factory activity in the U.S. Midwest surged to its highest in almost 1-1/2 years in June amid strong gains in new orders and production, offering a ray of hope for the downtrodden manufacturing sector. While another report on Thursday showed an increase in the number of Americans filing for unemployment benefits last week, layoffs remained low in June, backing views the labor market remained healthy despite last month's paltry job gains. The signs of stability in manufacturing and low layoffs ad
  
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• Kremlin: Russia will ease sanctions on Turkey depending on talks outcome

  30-06-2016 18:01 via news.yahoo.com
  
  MOSCOW (Reuters) - Russia will take measures to ease economic and trade restrictions on Turkey, depending on the result of talks between Moscow and Ankara, the Kremlin said on Thursday. Russian President Vladimir Putin on Wednesday ordered Russia's government to start talks with Turkey on resuming trade relations and to drop restrictive measures on Russian tourists visiting the country. (Reporting by Jack Stubbs; Editing by Mark Trevelyan)
  
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• Equities rise, bond yields subdued as more stimulus seen

  30-06-2016 18:01 via news.yahoo.com
  
  By Edward Krudy NEW YORK (Reuters) - World stocks rose for a third day although bond yields remained subdued, reflecting concerns about the global economy and expectations for more stimulus from central banks, as the Bank of England raised the prospect of more bond buying. Markets have regained their poise after a short bout of volatility following Britain's vote last week to leave the European Union, but concerns remain about the longer term economic outlook and the potential for renewed turbul
  
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• Carney hints at monetary easing after Brexit vote

  30-06-2016 17:44 via news.yahoo.com
  
  Bank of England governor Mark Carney on Thursday suggested monetary easing may be required this summer, saying that the economic outlook had "deteriorated" after Britain voted to leave the EU. "The economic outlook has deteriorated and some monetary policy easing will likely be required over the summer," he said in a speech in central London. "Reflecting the possibility that heightened uncertainty may last a while longer, today the Bank of England is announcing that it will continue to offer Lon
  
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• Consumer staples stocks boost Wall Street

  30-06-2016 17:40 via news.yahoo.com
  
  Mondelez was up 1.9 percent. All 10 major S&P sectors were higher, with the consumer staples index rising 1.43 percent. PepsiCo and Philip Morris rose about 2 percent and were the biggest influences on the index.
  
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• Insight - For some in England's north, Brexit means control

  30-06-2016 17:38 via news.yahoo.com
  
  By Sara Ledwith BARNSLEY, England (Reuters) - Owen Gleadall remembers the previous time Britain voted on Europe. It was 1975, and most people in his Yorkshire mining town of Barnsley were ambivalent about the issue. Gleadall, a local businessman working in international markets, felt it made economic sense to be part of the bloc.
  
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• For some in England's north, Brexit means control

  30-06-2016 17:34 via news.yahoo.com
  
  By Sara Ledwith BARNSLEY, England (Reuters) - Owen Gleadall remembers the previous time Britain voted on Europe. It was 1975, and most people in his Yorkshire mining town of Barnsley were ambivalent about the issue. Gleadall, a local businessman working in international markets, felt it made economic sense to be part of the bloc.
  
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• Madoff trustee begins new payout, total nears $9.5 bln

  30-06-2016 17:18
  
  June 30 (Reuters) - The court-appointed trustee liquidating
  Bernard Madoff's firm said he began on Thursday distributing
  another $190.2 million to fraud victims, boosting the total
  payout to about...
  
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• Global stocks rise as Brexit shock eases

  30-06-2016 17:09 via news.yahoo.com
  
  Wall Street echoed cooling gains in European markets after a robust two-day rebound from a heavy sell-off on the heels of the Brexit decision, even seeing London wipe out all its post-vote losses. London's benchmark FTSE 100 index pushed 0.2 percent higher, slightly behind Paris, while shares in Frankfurt were just in the black, at 0.01 percent higher. "It is here that the soft underbelly of the European economy remains, with financials under pressure again after the US subsidiaries of Deutsche
  
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• Bank of England's Carney sees need for summer stimulus after Brexit shock

  30-06-2016 17:09 via news.yahoo.com
  
  By William Schomberg and David Milliken LONDON, (Reuters) - Bank of England Governor Mark Carney said the central bank would probably need to pump more stimulus into Britain's economy over the summer after the shock of last week's decision by voters to leave the European Union. Carney, who has previously warned of a possible recession in Britain if it chose to leave the EU, said the BoE's Monetary Policy Committee would announce an initial assessment of the situation on July 14, after its next s
  
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