Finance news

• Brazil raises infrastructure financing for Olympics

  28-07-2016 23:23 via news.yahoo.com
  
  BRASILIA (Reuters) - Brazil's National Monetary Council, known as CMN, said on Thursday it changed regulation to raise the limits of financing to infrastructure projects linked to the Olympics and Paralympics in Rio de Janeiro. In a statement, the CMN, the country's highest economic policy body, said it authorized up to 5.4 billion reais in credit for projects related to the Olympics through the state development bank BNDES. The statement did not say what the previous limit was. (Reporting by Al
  
  Read more

• C$ resilient to oil fall as Fed weighs on greenback

  28-07-2016 23:15 via news.yahoo.com
  
  By Alastair Sharp TORONTO (Reuters) - The Canadian dollar firmed against the greenback on Thursday as its U.S. counterpart was pressured after the Federal Reserve stopped short of signaling an imminent U.S. interest rate hike, while investors eyed domestic economic data due on Friday. "Despite oil moving down and while we're awaiting GDP data tomorrow that will be significantly negative, the market is not pricing in any sort of move by the Bank of Canada, that's very unusual," said Jimmy Jean, a
  
  Read more

• U.S. stocks rebound, yen weakens on BOJ stimulus report

  28-07-2016 23:04 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - U.S. stocks mostly rose on Thursday in anticipation of results from tech heavyweights Alphabet and Amazon, while the yen eased after Reuters reported the Bank of Japan was considering expanding monetary stimulus to address signs of weak inflation. Expectations of further stimulus in Japan have dominated currency trading in recent weeks and overshadowed the U.S. central bank's policy-setting statement on Wednesday, when the Federal Reserve indicated it was in
  
  Read more

• UPDATE 2-Alphabet revenue beats Wall Street view, shares rise

  28-07-2016 22:54
  
  July 28 (Reuters) - Alphabet Inc, Google's parent,
  posted a 21.3 percent increase in second-quarter revenue,
  exceeding analysts' expectations, driven by strong advertising
  sales on mobile devices and...
  
  Read more

• Advertisement

• Alphabet revenue beats Wall Street view, shares rise

  28-07-2016 22:54 via news.yahoo.com
  
  Alphabet Inc , Google's parent, posted a 21.3 percent increase in second-quarter revenue, exceeding analysts' expectations, driven by strong advertising sales on mobile devices and for video content. The strong revenue growth suggests that Google is successfully navigating the transition to mobile, said Colin Gillis, an analyst with BGC Partners. Advertisers typically pay less for user clicks on mobile ads than on desktop ads, Google's traditional strength, but the strong earnings performance su
  
  Read more

• TSX ekes out gain on busy, mixed earnings day

  28-07-2016 22:48 via news.yahoo.com
  
  By Alastair Sharp TORONTO (Reuters) - Canada's main stock index eked out a small gain on Thursday, helped by positive earnings surprises from Teck Resources and others, while disappointment over Potash Corp's dividend and outlook cut and other earnings misses weighed. The two materials stocks were emblematic of the mixed picture emerging from Canada's earnings season. Potash Corp fell 7.2 percent to C$20.95 after cutting its full-year profit forecast and dividend for a second time this year.
  
  Read more

• Wall Street edges up; Alphabet and Amazon rise after the bell

  28-07-2016 22:41 via news.yahoo.com
  
  Wall Street edged higher on Thursday as investors looked beyond disappointing earnings from Ford and bought shares in Apple, while Alphabet surged after the bell following its quarterly report. It was the 10th session of range-bound trading, following a sharp rally in late June and early July that hit record highs and has left the S&P 500 up 6 percent for the year. In extended trade, Alphabet jumped 4 percent after the Google parent-company reported stronger-than-expected revenue.
  
  Read more

• Wall St. edges up; Alphabet and Amazon rise after the bell

  28-07-2016 22:29 via news.yahoo.com
  
  (Reuters) - Wall Street edged higher on Thursday as investors looked beyond disappointing earnings from Ford and bought shares in Apple, while Alphabet surged after the bell following its quarterly report.
  
  Read more

• Advertisement

• Google-parent Alphabet revenue up 21.3 percent

  28-07-2016 22:06
  
  July 28 (Reuters) - Google-parent Alphabet Incposted a 21.3 percent rise in second-quarter revenue, driven by
  strong advertising sales on mobile devices and for video
  content.
  
  Read more

• UPDATE 1-Facebook shares hit record high as it beats estimates again

  28-07-2016 22:02
  
  July 28 (Reuters) - Facebook Inc is growing so fast
  that analysts can't keep up.
  
  Read more

• U.S. stocks rebound, yen weakens on stimulus report

  28-07-2016 21:58 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - U.S. stocks mostly rose on Thursday in anticipation of results from tech heavyweights Alphabet and Amazon.com, while the yen eased after Reuters reported the Bank of Japan was considering expanding monetary stimulus to address signs of weak inflation. Expectations of further stimulus in Japan have dominated currency trading in recent weeks and overshadowed the U.S. central bank's policy-setting statement on Wednesday, when the Fed indicated it was in no rush
  
  Read more

• GLOBAL MARKETS-U.S. stocks rebound, yen weakens on stimulus report

  28-07-2016 21:55 via news.yahoo.com
  Expectations of further stimulus in Japan have dominated currency trading in recent weeks and overshadowed the U.S. central bank's policy-setting statement on Wednesday, when the Fed indicated it was in no rush to raise interest rates. On Wall Street, stocks initially were dragged lower by Ford Motor, which posted poor second-quarter profit, as the U.S. market was range-bound for a second week. Amazon.com rose 1.7 percent in anticipation of its quarterly results after the bell, with Google paren
  
  Read more

• UPDATE 4-Oracle to buy NetSuite for $9.3 bln to gain cloud computing clout

  28-07-2016 21:21
  
  July 28 (Reuters) - Business software maker Oracle Corp
  said on Thursday it would buy NetSuite Inc for
  about $9.3 billion in cash, a deal designed to help Oracle gain
  market share in the...
  
  Read more

• Wall St. mixed as tech titans tee up quarterly reports

  28-07-2016 21:06 via news.yahoo.com
  
  Wall Street was mixed on Thursday as investors fretted about disappointing earnings from Ford and awaited quarterly scorecards from technology heavyweights Alphabet and Amazon.com. It was the 10th session of range-bound trading following a sharp rally in late June and early July that hit record highs and has left the S&P 500 up 6 percent for the year. Momentum players are focussing to buy on pullbacks," said Michael Matousek, head trader at U.S. Global Investors in San Antonio.
  
  Read more

• Stocks waver as investors work through earnings

  28-07-2016 20:44 via news.yahoo.com
  
  NEW YORK (AP) — Stocks continued to search for direction Thursday as investors worked through another batch of mixed company earnings, including results from Facebook, Ford and Whole Foods.
  
  Read more

• UPDATE 3-Potash Corp cuts dividend, profit forecast again; shares fall

  28-07-2016 20:41
  
  July 28 (Reuters) - Potash Corp of Saskatchewan, the world's biggest fertilizer company by capacity, cut
  its full-year profit forecast and dividend for the second time
  this year on Thursday, and...
  
  Read more

• Whole Foods slides as price cuts fail to impress

  28-07-2016 20:22
  
  July 28 (Reuters) - Whole Foods Market Inc's shares
  plunged on Thursday as the company's efforts to position itself
  as a competitively priced grocer yielded little results in the
  third quarter.
  
  Read more

• UPDATE 2-Brazil's GPA falls most in 15 years after posting large loss

  28-07-2016 20:12
  
  SAO PAULO, July 28 (Reuters) - Brazil's biggest retailer,
  GPA SA, posted a much wider than expected quarterly loss on
  Thursday as costs surged and a deep recession depressed sales,
  sending its shares...
  
  Read more

• DBS expects to recover half of its $517 mln exposure to Swiber

  28-07-2016 19:55
  
  July 28 (Reuters) - DBS Group Holdings,
  Singapore's biggest lender, said it expects to recover about
  half of its total exposure of S$700 million ($517.4 million) to
  Swiber Holdings Ltd, the oilfield...
  
  Read more

• Brexit shockwaves hit British jobs, banks, automobiles

  28-07-2016 19:55 via news.yahoo.com
  
  By Giles Elgood and Costas Pitas LONDON (Reuters) - Shockwaves from Britain's vote to leave the European Union rocked the economy on Thursday, with thousands of jobs lost at one of the country's biggest banks, big extra costs for Ford, and consumer confidence plunging. Preparing for a Brexit-related slowdown, Lloyds Banking Group said it would cut a further 3,000 jobs. One of Britain's biggest car dealerships, Inchcape, predicted growth in new car registrations would fall.
  
  Read more

• Ford shares tumble on gloomy outlook

  28-07-2016 19:44 via news.yahoo.com
  
  Ford warned Thursday that it could miss its 2016 profit forecast due to a plateauing of auto sales in the US market and slower economic growth. Ford, which had described the first quarter of 2016 as "absolutely terrific," offered a much more subdued outlook as it cautioned that higher incentives in the critical North American market could dent profitability. "We are committed to meeting our guidance but it is at risk," Ford chief financial officer Bob Shanks said on a conference call with report
  
  Read more

• UPDATE 4-Bradesco shares sink as outlook for loan-loss provisions worsens

  28-07-2016 19:27
  
  SAO PAULO, July 28 (Reuters) - Shares in Banco Bradesco SA
  sank on Thursday as a grimmer outlook for loan-loss provisions
  this year reignited concerns that a harsh recession and a deluge
  of...
  
  Read more

• Kuczynski vows to make Peru a member of OECD by end of his term

  28-07-2016 19:09 via news.yahoo.com
  
  LIMA (Reuters) - Pedro Pablo Kuczynski promised after taking office as Peru's president on Thursday that the Andean country will become a member of the Organisation for Economic Co-operation and Development (OECD) by the end of his term in 2021. (Reporting by Mitra Taj; Editing by Phil Berlowitz)
  
  Read more

• Wall Sreet dragged down by weak data, Ford results

  28-07-2016 19:07 via news.yahoo.com
  
  The stock was the biggest drag on the S&P 500 index. Ford's dismal forecast rattled the automobile market, with shares of General Motors falling 4 percent and Fiat Chrysler 6 percent. Strong economic data had put Wall Street on a record-setting run in the past weeks, with the S&P 500 breaking its all-time high six times in 13 days.
  
  Read more

• Wall Street dragged down by weak data, Ford results

  28-07-2016 19:06 via news.yahoo.com
  
  The S&P 500 index and the Dow edged lower on Thursday as investors fretted about weak economic data and disappointing earnings from Ford. The stock was the biggest drag on the S&P 500 index. Ford's dismal forecast rattled the automobile market, with shares of General Motors falling 4 percent and Fiat Chrysler 6 percent.
  
  Read more

• Citi's U.S. economic surprise index falls after weak data

  28-07-2016 19:01 via news.yahoo.com
  The Citi gauge , which traders track for U.S. economic growth, fell to 36.5 points from 37.2 calculated on Wednesday. Earlier Thursday, the U.S. Labor Department said initial jobless claims rose by 14,000 to 266,000 for the week ended July 23.
  
  Read more

• UPDATE 5-Thomson Reuters misses on revenue, reaffirms outlook

  28-07-2016 18:34
  
  July 28 (Reuters) - Thomson Reuters Corp's
  revenue missed Wall Street expectations on Thursday, pushing
  down the stock more than 2 percent, but the news and information
  company reaffirmed its...
  
  Read more

• Global stocks fall on poor company results, dollar slides

  28-07-2016 18:16 via news.yahoo.com
  
  NEW YORK (Reuters) - Global stock markets fell on Thursday in the wake of disappointing U.S. and European corporate results while the dollar took its biggest tumble in almost two months after the U.S. Federal Reserve left unclear when it will raise interest rates.
  
  Read more

• Atlanta Fed slashes U.S. second quarter GDP growth view to 1.8 percent

  28-07-2016 17:46 via news.yahoo.com
  The U.S. economy likely expanded at a 1.8 percent annualized rate in the second quarter following a report on June's advance goods trade balance, the Atlanta Federal Reserve's GDP Now forecast model showed on Thursday. The latest gross domestic product estimate was slower than the 2.3 percent figure calculated on Wednesday, the regional Fed said on its website. The advance goods trade balance is an early reading of the trade balance of goods plus inventories.
  
  Read more

• Wall Street falls on disappointing earnings, weak data

  28-07-2016 17:39 via news.yahoo.com
  
  The stock was the biggest drag on the S&P 500 index. Shares of General Motors fell more than 3 percent and Fiat Chrysler more than 4 percent. Strong economic data had put Wall Street on a record-setting run in the past weeks, with the S&P 500 breaking its all-time high six times in 13 days.
  
  Read more

• Stocks hesitate as investors work through earnings

  28-07-2016 17:26 via news.yahoo.com
  
  NEW YORK (AP) — Stocks were edging slightly higher Thursday, as investors worked through another batch of mixed earnings' results, including results from Facebook, Ford and Whole Foods.
  
  Read more

• SABIC to grow its way out of earnings slump - acting CEO

  28-07-2016 17:24 via news.yahoo.com
  * New projects to return profit growth - acting CEO * Studying increased specialties business * Cost-cutting, asset sales to also play part * Posted lower profits in 8 straight quarters (Changes dateline, recasts with growth plans, adds detail, context) By Marwa Rashad and Reem Shamseddine RIYADH, July 28 (Reuters) - Saudi Basic Industries Corp (SABIC) aims to grow its way out of an extended earnings slump brought on by the impact of lower oil prices on the petrochemicals sector, its acting chie
  
  Read more

• Lackluster U.S., China sales drag on Ford Motor profit; shares tumble

  28-07-2016 17:10 via news.yahoo.com
  Ford Motor Co reported weaker-than-expected profit in the second quarter and declared that the U.S. auto industry's long recovery was at an end, sending its stock and those of other auto companies into a tailspin. Ford shares slumped nearly 10 percent in morning trading on Thursday, after Chief Financial Officer Bob Shanks told reporters the U.S. economic recovery is "maturing," and forecast sales would be weaker in 2017 than in 2016. Shares of General Motors Co skidded more than 3 percent, and
  
  Read more

• MIDEAST STOCKS-CIB's Q2 earnings aid Egypt, blue chips weigh on Gulf

  28-07-2016 17:06 via news.yahoo.com
  * CIB carries Egypt's index over 8,000 points * Saudi's SABIC drops 3.8 pct on lower Q2 profit * Index closes at 3-1/2 month low * Abu Dhabi slips after bank earnings * Dubai's Aramex up on strong Q2 By Celine Aswad DUBAI, July 28 (Reuters) - Egypt's largest bank helped carry the stock market higher on Thursday after it posted strong quarterly earnings, while weak results from blue chips weighed on some Gulf bourses. The Cairo index rose 1.5 percent to 8,031 points, climbing above major technica
  
  Read more

• TSX barely lower on busy earnings day

  28-07-2016 17:03 via news.yahoo.com
  
  TORONTO (Reuters) - Canada's main stock index was barely lower in morning trade on Thursday as energy stocks mostly gained and investors reacted to a string of earnings reports. The most influential gainers included Cenovus Energy Inc , which rose 4.2 percent to C$18.23 after posting a smaller-than-expected quarterly loss, and First Quantum Minerals Ltd , which jumped 9.6 percent to C$11.40. The energy group climbed 0.5 percent despite a fall in crude oil , while the materials group, which inclu
  
  Read more

• U.S. trade, inventory data pose downside risk to second-quarter GDP

  28-07-2016 17:02 via news.yahoo.com
  U.S. economic growth in the second quarter could surprise on the downside after data on Thursday showed a widening in the goods deficit in June and a moderate pace of inventory accumulation. The Census Bureau's new advanced economic indicators report showed the advance goods deficit rising 3.7 percent to $63.3 billion last month as imports outpaced export growth. Following the advance goods trade and inventories data, the Atlanta Federal Reserve lowered its second-quarter gross domestic product
  
  Read more

• Global shares slip after earnings deluge, Fed meeting

  28-07-2016 16:37 via news.yahoo.com
  
  Gloal stocks and the dollar slid Thursday after the US Federal Reserve held interest rates and indicated it would take a slow, measured approach to any hikes.
  
  Read more

• EU needs new vision as it is falling in love with itself, says Slovak PM

  28-07-2016 16:31 via news.yahoo.com
  
  The European Union seems to be falling in love with itself and needs to use the time before Britain formally starts divorce proceedings to create a new vision of Europe, Slovak Prime Minister Robert Fico said on Thursday. Britain's shock vote to leave the EU in June has led to calls for reforms in the bloc to connect it better to its people after disillusionment has risen after years of economic weakness and an influx of refugees. "I have always said ... the EU seems to be falling in love with i
  
  Read more

• Average US 30-year mortgage rate edges up to 3.48 percent

  28-07-2016 16:28 via news.yahoo.com
  
  WASHINGTON (AP) — Long-term U.S. mortgage rates edged higher this week for a second straight week. They still are near historically low levels to encourage potential homebuyers.
  
  Read more

• Wall Street lower after Fed leaves rates unchanged

  28-07-2016 16:17 via news.yahoo.com
  
  Wall Street fell on Thursday morning on mixed earnings and weak economic data, a day after the Federal Reserve decided to keep interest rates unchanged. The Fed said on Wednesday that the U.S. economy had expanded at a moderate rate and the near-term risks to its outlook had diminished, leaving the door open for a possible increase in the coming months. The S&P 500 was dragged down by Ford, whose shares dropped 8.2 percent after disappointing second-quarter profit.
  
  Read more

• Q&A: Big ideas about life lessons with Donny Deutsch

  28-07-2016 16:02
  
  NEW YORK (Reuters) - Donny Deutsch pops up pretty much everywhere in the American mediascape.
  
  Read more

• China, Africa ink $17 bln preliminary cooperation pacts: Xinhua

  28-07-2016 15:46 via news.yahoo.com
  
  BEIJING (Reuters) - Chinese companies and banks agreed preliminary deals with African counterparts on $17 billion worth of cooperation in sectors including infrastructure, energy, pharmaceuticals and information technology, the official Xinhua News Agency reported on Thursday. Companies and financial institutions signed letter of intent for 39 cooperations pacts at a China-Africa economic and trade event in Beijing attended by more than 400 delegates. Xinhua did not give further details. ...
  
  Read more

• Shell misses expectations as earnings plunge on oil, BG costs

  28-07-2016 15:44 via news.yahoo.com
  
  By Karolin Schaps and Dmitry Zhdannikov LONDON (Reuters) - Royal Dutch Shell missed quarterly profit expectations by more than $1 billion on Thursday after reporting a 72 percent plunge in earnings due to weak oil prices and high costs following its $54 billion takeover of BG Group. Shell's second-quarter current cost of supplies - its definition of net income - was $1 billion, much lower than the $2.1 billion expected by analysts. "Lower oil prices continue to be a significant challenge across
  
  Read more

• Lufthansa is now an Airbnb host

  28-07-2016 15:26 via news.yahoo.com
  
  German carrier Lufthansa has posted a seat on a plane as an Airbnb listing, in a new, interesting sales tactic aimed at filling seats. Posted under the heading, “Luxury Awaits Above the Clouds,” the listing is for a return flight from Frankfurt to New York in a premium economy seat for €699 ($775 USD). Multimedia entertainment is included in our Lufthansa Premium Economy Seat from Frankfurt to NYC and WiFi is available.
  
  Read more

• Wall Street to open flat after Fed leaves rates unchanged

  28-07-2016 15:01 via news.yahoo.com
  
  The Fed said on Wednesday that the U.S. economy had expanded at a moderate rate and the near-term risks to its outlook had diminished. Strong economic data has put Wall Street on a record-setting rally in the past weeks, with the S&P 500 breaking its all-time high six times in 13 days.
  
  Read more

• Fed caution hits dollar as Japan anticipation builds

  28-07-2016 14:58 via news.yahoo.com
  
  By Marc Jones LONDON (Reuters) - The dollar took its biggest tumble in almost two months on Thursday and stocks fell from nine-month highs as cautious sounds from the Fed left focus firmly on Japan's next round of money-printing measures. The greenback was down 0.5 percent against six other major currencies and Wall Street was heading for weaker start after the U.S. Federal Reserve ended its meeting on Wednesday with little suggestion it was in a rush to raise U.S. interest rates.
  
  Read more

• GLOBAL MARKETS-Fed caution hits dollar as Japan anticipation builds

  28-07-2016 14:55 via news.yahoo.com
  The dollar took its biggest tumble in almost two months on Thursday and stocks fell from nine-month highs as cautious sounds from the Fed left focus firmly on Japan's next round of money-printing measures. The greenback was down 0.5 percent against six other major currencies and Wall Street was heading for weaker start after the U.S (Other OTC: UBGXF - news) . Federal Reserve ended its meeting on Wednesday with little suggestion it was in a rush to raise U.S. interest rates.
  
  Read more

• Oil steadies just above three-month lows on oversupply

  28-07-2016 14:28 via news.yahoo.com
  
  Oil prices steadied just above three-month lows on Thursday as producers continued to pump more than needed, filling inventories, and economic growth prospects darkened. Brent crude oil was unchanged at $43.47 a barrel by 1215 GMT, after touching $42.88, its lowest since April 20. The build added to an already huge global refined product glut just as slowing economic growth dents the demand outlook.
  
  Read more

• Brexit shockwaves hit British jobs, consumer confidence

  28-07-2016 14:07 via news.yahoo.com
  
  By Giles Elgood and Costas Pitas LONDON (Reuters) - Shockwaves from Britain's vote to leave the European Union rocked the economy on Thursday, with thousands of jobs lost at one of the country's biggest banks, consumer confidence plunging, and construction and car sales slowing. Preparing for a Brexit-related slowdown, Lloyds Banking Group said it would cut a further 3,000 jobs and one of Britain's biggest car dealerships, Inchcape, predicted growth in new car registrations would fall. "The publ
  
  Read more

• Global stocks slip in run-up to Bank of Japan decision

  28-07-2016 13:56 via news.yahoo.com
  
  HONG KONG (AP) — Stock markets around the world edged lower Thursday as investors digested an upbeat Fed assessment of the U.S. economy that raised the prospect of further rate hikes, while anticipating more stimulus from Japan.
  
  Read more

Follow @FinanceUSA_News on Twitter!