Finance news

• US stocks hit another record; ARM deal lifts London

  18-07-2016 23:31 via news.yahoo.com
  
  European stocks mostly slipped but Wall Street pushed to fresh records Monday despite continued worries over Turkey after the failed military coup.
  
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• Ex-Visium hedge fund manager pleads not guilty to fraud scheme

  18-07-2016 23:24
  
  NEW YORK (Reuters) - A former portfolio manager at Visium Asset Management LP pleaded not guilty on Monday to charges that he engaged in a scheme to defraud investors by inflating the value of a bond...
  
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• S&P, Dow close at record highs; oil falls

  18-07-2016 22:43 via news.yahoo.com
  
  By Richard Leong NEW YORK (Reuters) - U.S. stock prices rose on Monday, with the Dow Jones Industrial Average and S&P 500 posting record closes amid upbeat company earnings, while oil fell on worries about growing supply and traders brushing off a failed coup in Turkey. As Turkish authorities sought to retaliate for a bid by a faction of the armed forces to seize power, traders pared safe-haven holdings of yen, gold and low-risk government bonds. "We're now on to the next shiny new object an
  
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• GLOBAL MARKETS-S&P, Dow close at record highs; oil falls

  18-07-2016 22:39 via news.yahoo.com
  U.S. stock prices rose on Monday, with the Dow Jones Industrial Average and S&P 500 posting record closes amid upbeat company earnings, while oil fell on worries about growing supply and traders brushing ...
  
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• Stocks inch higher, send S&P 500 to another record

  18-07-2016 22:38 via news.yahoo.com
  
  NEW YORK (AP) — Stocks ticked higher Monday as investors looked past this weekend's failed coup attempt in Turkey and nudged the Standard & Poor's 500 index to another record.
  
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• Wall St. sets records again, led by tech, bank stocks

  18-07-2016 22:36 via news.yahoo.com
  
  Wall Street closed slightly higher on Monday to mint new record highs for the S&P 500 and the Dow industrials, fuelled by Bank of America's better-than-expected profit and a major tech sector acquisition. SoftBank's $32-billion deal to buy British chip designer ARM Holdings lifted U.S. chip stocks, and the technology sector led the way higher on the S&P 500. The tech-heavy Nasdaq rose more than the S&P and the Dow.
  
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• Bank of America wealth management loses small brokers

  18-07-2016 22:36
  
  NEW YORK (Reuters) - Bank of America'swealth unit is losing financial advisers who cannot meet performance targets because their books of business are too small, Chief Executive Brian Moynihan said...
  
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• US STOCKS-Wall St sets records again, led by tech, bank stocks

  18-07-2016 22:29 via news.yahoo.com
  Wall Street closed slightly higher on Monday to mint new record highs for the S&P 500 and the Dow industrials, fueled by Bank of America's better-than-expected profit and a major tech sector acquisition. ...
  
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• Wall Street on record track led by tech, bank stocks

  18-07-2016 21:12 via news.yahoo.com
  
  Wall Street rose on Monday as Bank of America's better-than-expected profit and a tech sector deal fed recent optimism about a stronger U.S. economy. SoftBank's $32-billion deal to buy British chip designer ARM Holdings lifted U.S. chip stocks, and the technology sector led the way higher on the S&P 500. Bank of America's earnings report continued the momentum for U.S. banks, kicked off by JPMorgan last week.
  
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• Wall St. on record track led by tech, bank stocks

  18-07-2016 21:11 via news.yahoo.com
  
  (Reuters) - Wall Street rose on Monday as Bank of America's better-than-expected profit and a tech sector deal fed recent optimism about a stronger U.S. economy.
  
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• US STOCKS-Wall St on record track led by tech, bank stocks

  18-07-2016 21:09 via news.yahoo.com
  Wall Street rose on Monday as Bank of America's better-than-expected profit and a tech sector deal fed recent optimism about a stronger U.S. economy. SoftBank's $32-billion deal to buy British chip designer ...
  
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• Turkey economy facing fresh problems after coup attempt

  18-07-2016 20:51 via news.yahoo.com
  
  ANKARA, Turkey (AP) — Turkey faces the prospect of waning economic growth, a struggle to attract international investors and financial market volatility for months to come following the failed coup against Turkish President Recep Tayyip Erdogan.
  
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• Mexican anti-graft chief resigns at dawn of new corruption rules

  18-07-2016 19:46 via news.yahoo.com
  Mexico's chief anti-corruption official, who last year exonerated President Enrique Pena Nieto of conflict-of-interest allegations, resigned on Monday, just hours before new graft-fighting legislation comes into effect. Virgilio Andrade, head of the Public Administration Ministry (SFP), the government's main anti-corruption auditor, was appointed by Pena Nieto in 2015. The opposition accused Andrade of a whitewash when the months-long probe exonerated all three of wrongdoing, just as the preside
  
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• US says fuel economy likely won't meet 2025 targets

  18-07-2016 19:40 via news.yahoo.com
  
  DETROIT (AP) — The U.S. government says fuel economy of the nation's fleet of cars and trucks won't meet its targets in 2025 because low gas prices have changed the types of vehicles people are buying.
  
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• BRIEF-Depomed says Patent Board Denies IPR of NUCYNTA Patent

  18-07-2016 19:40
  
  * Depomed announces patent trial and appeal board denial of
  inter partes review of Nucynta patent
  
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• Azeri state oil fund's assets up 4.6 pct in H1 to $35.1 bln by July 1

  18-07-2016 19:24
  
  BAKU, July 18 (Reuters) - The assets of Azeri state oil fund
  SOFAZ grew by 4.6 percent to $35.1 billion in the first six
  months of this year, the fund said on Monday.
  
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• Coup turmoil endangers Turkey's investment-grade rating

  18-07-2016 19:23
  
  LONDON, July 18 (Reuters) - Turkey's investment-grade credit
  rating is hanging by a thread after last week's attempted coup
  and any further deterioration would force some conservative
  investors to...
  
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• Turkey calms rattled markets but post-coup fears remain

  18-07-2016 19:17 via news.yahoo.com
  
  Turkey moved quickly to quell financial market concerns over political instability after the coup against President Recep Tayyip Erdogan's government, although the putsch created new economic risks that will be tougher to banish. Global financial exchange markets were still open when the coup erupted late Friday and fears of prolonged political turmoil in a key emerging market prompted a five-percent crash in the lira against the dollar. When markets reopened on Monday, investors had taken some
  
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• UPDATE 1-CalPERS returns 0.61 pct in past year amid market volatility

  18-07-2016 19:08
  
  ROHNERT PARK, Calif., July 18 (Reuters) - California Public
  Employees' Retirement System posted a slightly
  better-than-expected 0.61 net return on investment for the
  12-month period that ended June...
  
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• BRIEF-Microsoft announces Microsoft Stream, a new business video service

  18-07-2016 19:05
  
  * Announcing Microsoft Stream, a new business video serviceSource text - (http://bit.ly/2aaMYxX)
  Further company coverage:
  (Bengaluru Newsroom: +1-646-223-8780)
  
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• U.S. DoJ investigating Fiat Chrysler for fraud-Bloomberg

  18-07-2016 19:00
  
  July 18 (Reuters) - The U.S. Justice Department is
  investigating Fiat Chrysler Automobiles NV
  for fraud, Bloomberg reported, citing people familiar with the
  matter.
  
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• MOVES- BNY Mellon, BTIG, FTI Consulting

  18-07-2016 19:00
  
  July 18 (Reuters) - The following financial services
  industry appointments were announced on Monday. To inform us of
  other job changes, email [email protected].
  
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• EU, Greece seek debt deal by year end: Moscovici

  18-07-2016 18:53 via news.yahoo.com
  
  The European Union and Greece hope to reach a deal on the crisis-hit country's debt mountain by the end of the year, EU economic affairs chief Pierre Moscovici said on Monday. "We need to reach a positive agreement involving the IMF by the end of the year," Moscovici told reporters after meetings with Greek Prime Minister Alexis Tsipras and Finance Minister Euclid Tsakalotos. "It is in the interest of all parties that the IMF is fully on board," Moscovici said, noting that the global lender brou
  
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• Wall Street inches up, but stays shy of record; oil drags

  18-07-2016 18:52 via news.yahoo.com
  
  SoftBank's $32 billion deal to buy British chip designer ARM Holdings lifted U.S. chip stocks, but that was pertly offset by a drop in energy stocks as oil prices dropped after the failed coup attempt in Turkey. Bank of America's report continued the momentum for U.S. banks kicked off by JPMorgan last week. The bank's shares rose 1.6 percent to $13.87, helping the S&P financial index gain 0.36 percent.
  
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• US STOCKS-Wall St inches up, but stays shy of record; oil drags

  18-07-2016 18:50
  
  * Indexes up: Dow 0.06 pct, S&P 0.18 pct, Nasdaq 0.52 pct(Updates to early afternoon)
  
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• UPDATE 8-Oil prices slide amid rise in crude, fuel supplies

  18-07-2016 18:49
  
  * Genscape reports Cushing stockpile build last week
  -traders
  
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• EMERGING MARKETS-Latam currencies, stocks recover as Turkey coup thwarted

  18-07-2016 18:49
  
  SAO PAULO, July 18 (Reuters) - Most Latin American stocks
  and currencies rose on Monday as traders unwound safety bets
  after a military coup attempt in Turkey proved unsuccessful.Investors...
  
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• London, US shares up but global equities mixed

  18-07-2016 18:48 via news.yahoo.com
  
  European stocks mostly slid Monday after a failed coup in Turkey but a mega takeover of a British iPhone chip designer propped up London equities, while Wall Street also firmed slightly.
  
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• ISDA determines 'failure-to-pay' event has occurred on Puerto Rico debt

  18-07-2016 18:40
  
  July 18 (Reuters) - The International Swaps and Derivatives
  Association on Monday said it has determined that a failure to
  pay credit event occurred in respect to Puerto Rico missing bond
  payments of...
  
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• EU sticks to Greece optimism despite Brexit worries

  18-07-2016 18:39 via news.yahoo.com
  
  ATHENS, Greece (AP) — The European Union's top economy official laid out his hope that a debt-relief deal with Greece could be achievable by the end of this year.
  
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• Ghana lowers 2016 GDP growth forecast to 4.1 pct

  18-07-2016 18:28 via news.yahoo.com
  
  Ghana has cut its 2016 economic growth forecast to 4.1 percent from 5.4 percent due to lower export prices and irregular oil production, Finance Minister Seth Terkper told Reuters on Monday. "These developments have taken into consideration the release of revised GDP figures for 2015, revision of gold production forecasts for 2016-18 and the shutdown of the (oil production vessel) FPSO Kwame Nkrumah," Terkper said. GDP growth should pick up between July and September as a second oil field, TEN,
  
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• South Africa's rand bounces as Turkey concerns ease

  18-07-2016 18:24 via news.yahoo.com
  
  South Africa's rand strengthened two percent against the U.S. dollar on Monday as concerns over a failed coup attempt in Turkey eased and investors sought out higher returns in emerging markets. Stocks ended slightly lower with gold shares among the biggest decliners as traders pared their safe-haven holdings after Turkey's government said it was in control of the country and the economy. "We believe it is an exaggeration to believe the political noise in Turkey may affect the general price dyna
  
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• Wall Street higher as BofA earnings bolster optimism

  18-07-2016 18:06 via news.yahoo.com
  
  Bank of America's report continued the momentum for U.S. banks kicked off by JPMorgan last week. The bank's shares rose 1.6 percent to $13.87, helping the S&P financial index gain 0.3 percent. "We're now on to the next shiny new object and that's earnings season," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.
  
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• Stock indexes drift higher in midday trading on Wall Street

  18-07-2016 17:33 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stock indexes edged higher in midday trading Monday, holding at record levels, as investors looked past a failed military coup in Turkey. Technology stocks led the way.
  
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• European stock markets mostly drop after failed Turkey coup

  18-07-2016 16:48 via news.yahoo.com
  
  European stocks mostly fell and Wall Street opened flat Monday following a failed coup in Turkey at the weekend but shares in ARM surged after the computer chip designer's mega takeover by SoftBank.
  
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• MIDEAST STOCKS-Qatar, Dubai surge, rest of region restrained

  18-07-2016 16:33 via news.yahoo.com
  * Qatar breaks major technical resistance, volume balloons * Dubai sees highest volume in three months * Property shares surge after optimistic analysis * Saudi's Bahri climbs on fleet expansion drive * Egypt's Domty outperforms on investment plan By Andrew Torchia DUBAI, July 18 (Reuters) - Qatar's stock market surged as it broke major technical resistance and Dubai was boosted by real estate companies on Monday, while most Middle Eastern markets were held back by weak oil prices and uneven cor
  
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• Wall Street flat as oil price drop offsets earnings momentum

  18-07-2016 16:12 via news.yahoo.com
  
  Wall Street was little changed on Monday, with the Dow and the S&P 500 trading near record highs, as a drop in oil prices offset the boost from mostly upbeat U.S. corporate earnings reports. After the S&P and Dow hit record intraday highs almost every day last week, investors will seek to justify stock valuations by assessing the quality of earnings and forecasts, especially in the backdrop of the Brexit vote. The bank's shares rose 1.4 percent to $13.86, helping the S&P financial in
  
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• Your Money: How to launch a deserving student with a scholarship

  18-07-2016 16:08
  
  (Reuters) - Have a pen and several thousand dollars? It is as easy as that in most cases to fund a college scholarship and help some deserving student bridge the gap between aspiration and access.
  
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• Wall Street little changed; S&P, Dow near new highs

  18-07-2016 15:35 via news.yahoo.com
  
  U.S. stocks were little changed at the open on Monday, with the S&P 500 and the Dow just shy of hitting new intraday highs, as corporate second-quarter earnings continue to beat expectations. The Dow Jones Industrial Average was up 5.41 points, or 0.03 percent, at 18,521.96, the S&P 500 was up 1.33 points, or 0.06 percent, at 2,163.07 and the Nasdaq Composite was up 5.29 points, or 0.11 percent, at 5,034.88.
  
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• Brexit widens chasm between Wall Street and Europe's investment banks

  18-07-2016 15:26 via news.yahoo.com
  
  By Anjuli Davies and Olivia Oran LONDON/NEW YORK (Reuters) - Market ructions caused by Britain's decision to leave the European Union are set to widen the gulf between Wall Street and European investment banks, potentially leaving the continent without its own global champion. The Brexit vote has pushed shares in Deutsche Bank and Credit Suisse to record lows and triggered a string of analyst downgrades, highlighting expectations that Europe's already-struggling investment banks will be pushed f
  
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• Cyprus sets another tourism record

  18-07-2016 15:09 via news.yahoo.com
  
  Bailed-out Cyprus, seen as a safe destination in a region dogged by terror attacks, set a record for the number of tourist arrivals during the month of June, officials said Monday. With the Mediterranean holiday island's economy on an upward curve, state-run Cyprus Tourism Organisation said that 413,114 tourists arrived last month. "It is the best June in terms of arrivals in the history of Cyprus tourism.
  
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• Chinese takeover of Norway's Opera fails, alternative proposed

  18-07-2016 14:53
  
  OSLO/BEIJING (Reuters) - A $1.2 billion takeover of Opera Software by a group of Chinese internet firms fell through on Monday after failing to get regulatory approval in time, sending the Norwegian...
  
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• BRIEF-Evraz Highveld says BRPs proceeding with rescue plan proposal 3

  18-07-2016 14:45
  
  * Says business rescue proceedings of company have not been concluded within three months of
  date of commencement
  
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• Wells Fargo agrees City of London office buy, shrugs off Brexit fear

  18-07-2016 14:31
  
  LONDON (Reuters) - Wells Fargo has agreed to buy an 11-storey office development project in London's City financial district from HB Reavis, the U.S. bank said on Monday, one of the largest UK real...
  
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• Activist TCI takes SABMiller stake, investors scent sweetened offer

  18-07-2016 14:11
  
  LONDON (Reuters) - The Children's Investment Fund Management (TCI) has taken a stake in SABMiller , the second activist to buy into the brewer in recent weeks, raising the prospect of a late push for...
  
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• Futures rise ahead of earnings rush

  18-07-2016 13:37 via news.yahoo.com
  
  U.S. stock index futures were slightly higher on Monday, coming off a record-setting week for Wall Street that followed robust economic data and strong earnings. * The U.S. stock market will be tested this week, when the onslaught of company earnings could help investors assess evidence of a second-half profit rebound. * Bank of America, the No.2 U.S. bank by assets, reported quarterly earnings that fell, but beat analysts expectations.
  
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• Humana shares still have room to fall if Aetna buyout blocked

  18-07-2016 13:05
  
  NEW YORK (Reuters) - While Wall Street is largely betting that antitrust regulators will stop Humana Inc'stakeover by larger rival Aetna Inc , shares of Humana could still fall as much as 18...
  
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• German economy 'to grow strongly in Q3 despite Brexit risks'

  18-07-2016 13:04 via news.yahoo.com
  
  The German economy, Europe's biggest, will continue to expand strongly in the third quarter, despite potential risks from the British vote to quit the European Union, the German central bank or Bundesbank said on Monday. After growth slowed in the second quarter of 2016, "the underlying economic trend remains very strong and a sharp increase in overall economic output can be expected in the summer quarter," the Bundesbank wrote in its latest monthly report.
  
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• SoftBank to buy UK chip designer ARM in $32 billion cash deal

  18-07-2016 13:00
  
  TOKYO/LONDON (Reuters) - SoftBank Group Corphas agreed to buy UK chip designer ARM Holdings PLCin a 24.3 billion pound ($32.2 billion) cash deal, the two sides said on Monday, a bold bet on...
  
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• PM May says Softbank-ARM deal shows Britain can be a success post-Brexit

  18-07-2016 12:57 via news.yahoo.com
  Prime Minister Theresa May said on Monday Japanese company Softbank's decision to buy British chip designer ARM Holdings showed Britain's economy could be successful after the country voted to leave the European Union. Welcoming the deal as a boost for British jobs and the economy, a spokeswoman for Britain's new prime minister said May believed the deal was in the country's national interest -- a gauge she will use in all future foreign takeovers. "This is good news for British workers, it's go
  
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