Finance news

• UPDATE 1-Fed's Williams sees rate hike this year, despite Brexit

  05-07-2016 23:56
  
  SAN FRANCISCO, July 5 (Reuters) - Britain's vote to leave
  the European Union presents only a modest risk to the U.S.
  outlook and probably will not keep the Federal Reserve from
  raising interest...
  
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• REFILE-FBI says conducting 30 undisclosed insider trading probes

  05-07-2016 23:52
  
  NEW YORK, July 5 (Reuters) - The FBI in New York City has
  undisclosed probes into about 30 suspected insider trading
  schemes, the agency said, in a sign investigators remains
  focused on building...
  
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• BRIEF-Theratechnologies posts Q2 loss per share C$0.01

  05-07-2016 23:46
  
  * Theratechnologies announces financial results for second
  quarter of 2016
  
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• Nippon Steel says Usiminas split possible but negotiations not started

  05-07-2016 23:44
  
  SAO PAULO, July 5 (Reuters) - A split-up of Brazilian
  steelmaker Usiminas between controlling shareholders
  remains an option for resolving a two-year boardroom dispute,
  but negotiations have not yet...
  
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• BRIEF-Microsoft board of directors amended company's bylaws, effective July 1 - SEC Filing

  05-07-2016 23:39
  
  * Board of directors of Microsoft Corporationamended
  company's bylaws, effective July 1, 2016
  
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• Medivation agrees to open its books to Sanofi

  05-07-2016 23:24
  
  (Reuters) - U.S. cancer drug company Medivation Incsaid on Tuesday it had agreed to provide confidential information to French pharmaceutical company Sanofi SAas part of exploring a sale that...
  
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• Canada's Centerra Gold to buy Thompson Creek Metals for $1.1 billion

  05-07-2016 22:59
  
  (Reuters) - Canadian mining company Centerra Goldagreed on Tuesday to buy U.S. –based miner Thompson Creek Metals <TCM.TO for around $1.1 billion, including nearly $900 million in debt, to...
  
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• TSX pushed lower as oil falls; jitters boost gold miners

  05-07-2016 22:58 via news.yahoo.com
  
  By Alastair Sharp TORONTO (Reuters) - Canada's main stock index fell on Tuesday after four days of gains, as slumping oil prices pulled down energy companies and global jitters weighed while prompting some gains for yield-paying telecom stocks and gold miners. The Toronto Stock Exchange's S&P/TSX composite index ended down 39.30 points, or 0.28 percent, at 14,219.57. There were three decliners for every two advancers. The heavyweight energy group retreated 1.6 percent, as renewed worries tha
  
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• Fed patient on U.S. rates due to Brexit, inflation: Dudley

  05-07-2016 22:34 via news.yahoo.com
  The Federal Reserve can be patient on raising interest rates due to low inflation and uncertainties over U.S. economic prospects, including Britain's vote to leave the European Union, an influential U.S. central banker said on Tuesday. New York Fed President William Dudley, meeting with business and community leaders in Binghamton, New York, said that the U.S. economy is doing "ok" on average but that it was too soon to tell the effects of last month's so-called Brexit referendum.
  
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• Economic growth worries, oil slump drag Wall Street lower

  05-07-2016 22:32 via news.yahoo.com
  
  Stocks fell on Wall Street Tuesday following their best weekly performance of the year as investors faced continued uncertainty in the wake of Britain's decision to leave the European Union and as tumbling oil prices weighed on energy shares. Four of the top five decliners on the S&P 500 were bank stocks, with JPMorgan , down 2.8 percent t0 $59.55, weighing the most. The financial sector of the S&P was down 1.5 percent "Brexit is a friction on economic activity and that's bad for banks,"
  
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• Economic growth worries, oil slump drag Wall St. lower

  05-07-2016 22:32 via news.yahoo.com
  
  U.S government bond yields reached record lows as investors found refuge in the perceived safety of Treasuries and uncertainty from Britain's vote to exit the EU, known as Brexit, fueled worries about a global economic slowdown. Four of the top five decliners on the S&P 500 were bank stocks, with JPMorgan , down 2.8 percent t0 $59.55, weighing the most. The Dow Jones industrial average fell 108.75 points, or 0.61 percent, to 17,840.62, the S&P 500 lost 14.4 points, or 0.68 percent, to 2,
  
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• May leads three-horse PM race as Brexit hits pound and property

  05-07-2016 22:28 via news.yahoo.com
  
  By William James and Mark Trevelyan LONDON (Reuters) - Interior minister Theresa May opened up a strong lead on Tuesday in what is now a three-horse race to become Britain's next prime minister, but the first stage of voting was overshadowed by post-Brexit carnage for property investors and the pound. In symptoms of market concern about the economic impact of leaving the European Union, sterling hit new 31-year lows and three funds investing in British property said they were suspending trading
  
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• Sterling slumps, Treasury yields hit record low as uncertainty abates

  05-07-2016 22:10 via news.yahoo.com
  
  Stocks on major world markets fell and benchmark U.S. government bond yields hit all-time lows on Tuesday as worries about Britain's exit from the European Union pushed sterling to a fresh 31-year low, triggering a scramble for the safest and most liquid assets. Investor confidence was undermined by the Bank of England's warning on the economic risks of "Brexit" and its steps to ensure British banks keep lending, as well as by news of a decline in U.S. factory orders and reports of mixed manufac
  
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• Oil ends down nearly 5 percent on Brexit worry, supply builds

  05-07-2016 22:10 via news.yahoo.com
  
  By Barani Krishnan NEW YORK (Reuters) - Oil prices tumbled nearly 5 percent on Tuesday as investors worried that Britain's exit from the European Union would slow the global economy, making it unlikely energy demand will grow enough to absorb a supply glut. "There are risk-off trades across the board," said David Thompson, executive vice-president at Washington-based commodities broker Powerhouse. Oil prices are up almost 80 percent from 12-year lows of around $27 for Brent and $26 for U.S. crud
  
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• Goldman compliance head queried internship in Libya fund case, court told

  05-07-2016 22:06 via news.yahoo.com
  
  A Goldman Sachs compliance chief raised concerns about an internship the bank provided for the brother of a decision-maker at Libya's sovereign wealth fund, a court heard on Tuesday. In a trial at London's High Court, the Libyan Investment Authority (LIA) is attempting to claw back $1.2 billion from the Wall Street giant from nine disputed trades carried out in 2008. It cites an internship Goldman Sachs provided for Haitem Zarti, the younger brother of Mustafa Zarti, the LIA's former deputy chie
  
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• Conservative Party starts choosing leader as pound sinks

  05-07-2016 21:45 via news.yahoo.com
  
  LONDON (AP) — The race to succeed Conservative Prime Minister David Cameron intensified Tuesday as Britain grappled with growing signs of economic strain resulting from the country's vote to leave the European Union.
  
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• Yen gains, pound tumbles as worries over Brexit fallout grow

  05-07-2016 21:32 via news.yahoo.com
  
  By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The safe-haven yen climbed against the euro and the dollar while sterling fell to its lowest level in more than 30 years on Tuesday, as currency markets fretted about more signs of economic stress stemming from Britain's decision to leave the European Union.
  
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• Twinkies maker Hostess to go public under new owner

  05-07-2016 21:05
  
  (Reuters) - Hostess Brands LLC, the maker of Twinkies and Ding Dongs, said on Tuesday it will be bought in a $725 million deal by an affiliate of private equity company Gores Group, which will then...
  
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• Wall St. declines as growth worries, oil weigh

  05-07-2016 21:02 via news.yahoo.com
  
  (Reuters) - Wall Street stocks fell in afternoon trading on Tuesday as investors faced continued uncertainty in Europe and tumbling oil prices weighed on energy shares.
  
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• May and Leadsomlead race for Downing St. as Brexit hits pound and property

  05-07-2016 21:02 via news.yahoo.com
  
  By William James, Elizabeth Piper and Kylie MacLellan LONDON (Reuters) - Home Secretary Theresa May opened up a strong lead over her nearest rival, Andrea Leadsom, on Tuesday in the contest to become Britain's next prime minister, but the race was overshadowed by post-Brexit carnage for property investors and the pound. In symptoms of market concern about the economic impact of leaving the European Union, sterling hit new 31-year lows and three funds investing in British property said they were
  
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• Wall Street declines as growth worries, oil weigh

  05-07-2016 20:56 via news.yahoo.com
  
  Wall Street stocks fell in afternoon trading on Tuesday as investors faced continued uncertainty in Europe and tumbling oil prices weighed on energy shares. The Bank of England said the outlook for Britain's financial stability after its June 23 vote to leave the European Union, dubbed Brexit, was "challenging" and said it would lower the amount of capital that banks were required to hold in reserve in order to allow them to keep lending. “After a surprisingly big bounce last week, I think
  
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• Oil tumbles, loonie and stocks fall amid more Brexit worries

  05-07-2016 20:52 via news.yahoo.com
  
  The price of benchmark North American oil retreated almost five per cent Tuesday, while the loonie dropped by almost a cent and stocks tumbled as investors fretted about the British financial system. The price for the August contract for light sweet crude was down $2.39 US to settle at $46.60 US per barrel. On Wall Street, the Dow Jones industrial average shed 108.75 points, closing at 17,840.62, after the July Fourth holiday. The broader S&P 500
  
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• Deutsche Boerse signals headquarters may be outside UK after LSE deal

  05-07-2016 20:52
  
  FRANKFURT (Reuters) - Deutsche Boersesignaled on Tuesday that the headquarters of the European giant to be created from its merger with the London Stock Exchange Groupmay have to be outside the...
  
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• Sainsbury's says Brexit doesn't change rationale of Home Retail deal

  05-07-2016 20:29
  
  LONDON (Reuters) - The boss of Sainsbury'ssaid the British supermarket remained convinced of the rationale of its proposed purchase of Argos-owner Home Retaildespite increased economic...
  
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• Yen surges, sterling falls as UK nerves grow

  05-07-2016 20:11 via news.yahoo.com
  
  By Patrick Graham LONDON (Reuters) - The Japanese yen rose almost one percent against the euro and dollar while sterling fell to new long-term lows on Tuesday as currency markets priced in more signs of economic stress stemming from Britain's vote to leave the European Union. After a shockingly bad reading of construction industry sentiment on Monday, the PMI survey of purchasing managers in Britain's dominant service sector showed only a minimal fall-off in activity last month. Bank of England
  
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• Global stocks slide, U.S. Treasury yields fall with sterling on uncertainty woes

  05-07-2016 20:09 via news.yahoo.com
  
  By Dion Rabouin NEW YORK (Reuters) - Stocks on major world markets fell and benchmark U.S. government bond yields hit all-time lows on Tuesday as worries about Britain's exit from the European Union pushed sterling to a fresh 31-year low, triggering a scramble for the safest and most liquid assets. Investor confidence was undermined by the Bank of England's warning on the economic risks of "Brexit" and its steps to ensure British banks keep lending, as well as by news of a decline in U.S. factor
  
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• Denmark's DONG Energy wins Dutch offshore wind tender

  05-07-2016 19:44 via news.yahoo.com
  DONG Energy (Copenhagen: DENERG.CO - news) has won a tender to build two offshore wind farms in the Netherlands with a capacity of 350 megawatts (MW) each, the country's Economic Affairs Ministry said on Tuesday. DONG Energy, which made its stock market debut in Copenhagen last month, beat bids from 37 other companies, including Anglo-Dutch oil group Shell (LSE: RDSB.L - news) , which had bid in partnership with Dutch energy supplier Eneco and contractor Van Oord NV. Oliver Joy, a spokesman for
  
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• Investors rush to sell out of UK commercial property

  05-07-2016 19:24 via news.yahoo.com
  
  LONDON (AP) — The British pound dropped sharply to a new 31-year low on Tuesday amid concerns that the country's decision to leave the European Union might cause a steep slide in U.K. commercial real estate values and hurt the wider economy.
  
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• Oil down 5 percent; biggest drop since Feb on Brexit, supply builds

  05-07-2016 19:23 via news.yahoo.com
  
  Oil prices tumbled 5 percent on Tuesday, with U.S. crude heading for its steepest daily decline in five months, as investors worried that Britain's exit from the European Union would slow the global economy, making it unlikely energy demand will grow enough to cut a supply glut. Brent crude was down $2.44, or nearly 4.9 percent, at $47.66 a barrel by 1:09 p.m. EDT (1709 GMT). "There are risk-off trades across the board," said David Thompson, executive vice-president at Washington-based commoditi
  
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• China PSBC's clean loan book blotted by boom in risky bets

  05-07-2016 19:05
  
  HONG KONG (Reuters) - Postal Savings Bank of China, the country's biggest bank branch network, is advertising its strong asset quality to boost its up to $10 billion IPO, but its offer documents also...
  
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• Brexit boost offers only cold comfort for bank traders

  05-07-2016 19:03
  
  LONDON (Reuters) - A one-off boost from dramatic market moves after Britain's vote to leave the European Union will only briefly relieve pressure on profit targets for banks' trading businesses...
  
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• Fed's Williams says Brexit effect as expected, no big deal

  05-07-2016 18:20 via news.yahoo.com
  
  U.S. market reaction to Britain's vote to leave the European Union has played out "more or less" as expected, and the impact on the U.S. economy is much less than other that of other events in recent years, a top Federal Reserve official said on Tuesday. "The economic effects, on the baseline scenario, are relatively modest, but there still is the uncertainty about how things are actually going to play out," San Francisco Federal Reserve President John Williams said in an interview Friday with M
  
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• Brexit worries hit pound and property as Conservatives vote for PM

  05-07-2016 18:16 via news.yahoo.com
  
  By Kylie MacLellan, William James and Elizabeth Piper LONDON (Reuters) - Worries about the economic impact of leaving the European Union hit Britain's property market and hammered the pound on Tuesday as Conservative members of parliament began voting for a new prime minister. Interior minister Theresa May and Andrea Leadsom, a junior energy minister, emerged as early front-runners to replace David Cameron, who has said he will step down after Britons voted on June 23 to break away from the EU.
  
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• Global stocks fall, US Treasury yields slide with sterling on Brexit fears

  05-07-2016 18:11 via news.yahoo.com
  
  By Dion Rabouin NEW YORK (Reuters) - Stocks on major world markets fell and benchmark U.S. government bond yields hit an all-time low on Tuesday, as worries about Britain's exit from the European Union pushed sterling to a fresh 31-year low, triggering a scramble for the safest and most liquid assets. Investor confidence was undermined by the Bank of England's warning on the economic risks of "Brexit" and its steps to ensure British banks keep lending, as well as by news of a decline in U.S. fac
  
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• Selling bonds may help U.S. pensions: Bank of America Merrill Lynch

  05-07-2016 18:05
  
  NEW YORK (Reuters) - U.S. corporate pensions facing record low bond yields might consider selling debt in an effort to raise cash to meet future payouts, Bank of America Merrill Lynch analysts said...
  
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• US stocks skid and bonds surge on British worries

  05-07-2016 18:00 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks are falling Tuesday morning as investors worry about the British financial system. Investors continue to buy bonds as they worry about the state of the global economy, pushing the yields on long-term U.S. government bonds even lower. Banks are taking the largest losses, and energy companies are sinking with the price of oil.
  
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• 'Sweetest' town clings to Hershey, adding to takeover hurdles

  05-07-2016 17:50
  
  HERSHEY, Pennsylvania (Reuters) - The town of Hershey, Pennsylvania, calls itself the "sweetest place on earth."
  
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• BRIEF-Arch Coal announces global settlement that facilitates consensual completion of financial restructuring

  05-07-2016 17:47
  
  * Arch Coal announces global settlement that facilitates
  consensual completion of financial restructuring
  
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• Wall Street skids as global growth worries resurface

  05-07-2016 17:30 via news.yahoo.com
  
  (Reuters) - Wall Street was lower in late morning trading on Tuesday as oil prices kept sliding and tepid U.S. data added to global growth worries.
  
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• Oil slumps 4 percent on global economic jitters, supply builds

  05-07-2016 17:28 via news.yahoo.com
  
  NEW YORK (Reuters) - Oil prices slid more than 4 percent on Tuesday as investors worried that Britain's exit from the European Union would slow the global economy, and as data showed a build in stockpiles at the delivery point for U.S. crude futures.
  
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• Yen surges, pound plunges as anxiety over Brexit fallout grows

  05-07-2016 17:16 via news.yahoo.com
  
  By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The safe-haven yen rose sharply against the euro and dollar while sterling fell to its lowest in more than 30 years on Tuesday, as currency markets fretted about more signs of economic stress stemming from Britain's decision to leave the European Union.
  
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• More Brexit pain seen for pound; Bank of England to cut rates: Reuters poll

  05-07-2016 16:59 via news.yahoo.com
  
  By Ross Finley and William Schomberg LONDON (Reuters) - The Bank of England will probably wait until August to make any policy move to offset the hit to the economy from Britain's decision to leave the European Union, but the pound has more pain ahead, a Reuters polls showed on Tuesday. Governor Mark Carney has said the economy faces a material slowdown after the shock referendum result and the BoE took steps on Tuesday to encourage banks keep lending. Reuters polls before the referendum predict
  
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• Tinkering with South African fiscal policy won't boost growth - Treasury

  05-07-2016 16:52 via news.yahoo.com
  
  By Mfuneko Toyana JOHANNESBURG (Reuters) - South Africa's economy is not growing fast enough to create jobs, but tax cuts or increases in public spending are unlikely to stimulate growth, a senior Treasury official said on Tuesday. South Africa's unemployment currently hovers close to 27 percent of the labour force, while data on Monday showed employment in the formal sector fell by 0.2 percent to 9.273 million people in the first quarter of the year. The Treasury estimates that Africa's most in
  
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• UK banks say ready to lend more after capital requirements cut

  05-07-2016 16:40 via news.yahoo.com
  Some of Britain's biggest financial institutions said they were ready to lend more after a decision by the Bank of England to cut their capital requirements, according to a joint statement with finance minister George Osborne on Tuesday. The Bank of England, which is trying to ease the hit to the economy from last month's vote to leave the European Union, said it would lower the amount of capital banks are required to hold in reserve, potentially freeing up an extra 150 billion pounds ($196 bill
  
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• Canadian dollar to weaken on Brexit and cheap oil: Reuters poll

  05-07-2016 16:34 via news.yahoo.com
  
  By Anu Bararia BENGALURU(Reuters) - The Canadian dollar will weaken over the coming months as Britain's vote to leave the European Union strengthens the U.S. dollar and with oil prices set to remain weak despite recent supply outages, a Reuters poll found. The U.S. dollar will benefit from uncertainties surrounding Britain's vote to leave the European Union, said Krishen Rangasamy, senior economist at National Bank of Canada. Over the past several months, the Canadian dollar has been under press
  
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• Wall Street opens lower as global growth worries seep in

  05-07-2016 16:30 via news.yahoo.com
  
  U.S. government bond yields were at an all-time low as weak data from China added fuel to the uncertainty stemming from Britain's vote to leave the European Union. Oil prices fell nearly 3 percent as a potential economic slowdown weighed on prospects of demand. Shares of oil and gas companies including Exxon , Marathon Oil and Freeport fell.
  
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• Bank of England takes steps to meet Brexit challenge, pound falls

  05-07-2016 16:17 via news.yahoo.com
  
  The Bank of England took steps to ensure British banks keep lending and insurers do not dump corporate bonds as it said the economic risks it warned of before the vote to leave the European Union had started to materialize. Sterling fell to a fresh 31-year low against the U.S. dollar, hit by the suspension of trading in British real estate funds run by major investment firms, and there were other new signs of weakness in the economy. The BoE, which is trying to offset the hit to the economy from
  
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• Q&A: For comedian George Lopez, money is not always funny

  05-07-2016 16:15
  
  NEW YORK (Reuters) - For one of America's favorite funnymen, George Lopez has a life story that is anything but hilarious.
  
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• Activist hedge funds dial it back in first half of 2016

  05-07-2016 15:56
  
  BOSTON (Reuters) - Activist hedge funds were choosier in throwing their weight around corporate boardrooms during the first half of the year as they managed a smaller cash pile and struggled to beat...
  
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• Free trade possible with UK after Brexit: German farm minister

  05-07-2016 15:54 via news.yahoo.com
  By Michael Hogan and Hans-Edzard Busemann BERLIN (Reuters) - Britain could be involved in a free trade deal with the European Union after British EU membership ends via the European Economic Area (EEA), German Agriculture Minister Christian Schmidt said on Tuesday. The free trade zone EEA could provide an option to allow the multi-billion-euro food and farm trade between Britain and the EU to continue, Schmidt told Reuters. "We export a large amount to the United Kingdom and are well positioned
  
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