Finance news

• BRIEF-Radient Technologies Inc announces Financial Results and Private Placement Offering

  29-07-2016 23:39
  
  * In order to minimize expenses and cash requirements
  corporation has idled its plant operations
  
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• BRIEF-Suncoke Energy files for mixed shelf of up to $500 million - SEC Filing

  29-07-2016 23:28
  
  * Files for mixed shelf of up to $500 million - SEC FilingSource text for Eikon:Further company coverage:
  (Bengaluru Newsroom: +1-646-223-8780)
  
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• Cash-strapped Chicago schools pay big premium in $150 mln bond deal

  29-07-2016 23:27
  
  CHICAGO, July 29 (Reuters) - Chicago's cash-starved public
  schools borrowed $150 million to pay for capital projects in a
  privately placed deal with a yield of 7.25 percent, the nation's
  third...
  
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• Moody's places 462 state, local government ratings on review

  29-07-2016 23:23
  
  SAN FRANCISCO, July 29 (Reuters) - Moody's Investors Service
  placed the municipal debt ratings of 462 state and local
  governments on review on Friday, after the agency recently
  updated its rating...
  
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• UPDATE 4-Monte dei Paschi approves privately-backed rescue plan

  29-07-2016 23:18
  
  * Atlante bailout fund to underwrite portion of bad-loan
  sales(Recasts after Monte dei Paschi statement)
  
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• TSX gains on resource rebound; posts small weekly loss

  29-07-2016 23:13 via news.yahoo.com
  
  By Alastair Sharp TORONTO (Reuters) - Canada's main stock index rose on Friday, as its large energy sector recouped some losses from earlier in the week with oil prices steadying, and miners gained with gold trading at a three-week high. The Toronto Stock Exchange's S&P/TSX composite index closed up 30.02 points, or 0.21 percent, at 14,582.74. The energy group rose 0.7 percent, while the materials group, which includes precious and base metals miners and fertilizer companies, gained 1 percen
  
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• Multi-manager hedge funds suffer losses in first-half 2016

  29-07-2016 23:12
  
  BOSTON/NEW YORK (Reuters) - It only took six months for some of the world's most prominent team-based hedge funds to go from winners to losers.
  
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• Italy's BMPS worst performer in EU bank stress tests

  29-07-2016 23:07 via news.yahoo.com
  
  Italy's Banca Monte dei Paschi di Siena came a distant last in EU bank stress test results released on Friday that showed the sector as a whole was broadly resilient. BMPS would suffer a 14.23 percent plunge in its core capital ratio -- a measure of stability -- by 2018 under the European Banking Authority's economic shock scenario. "The EBA's 2016 stress test shows the benefits of the capital strengthening done so far are reflected in the resilience of the EU banking sector to a severe shock,"
  
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• Private equity firms prepare acquisition offers for Save-A-Lot-sources

  29-07-2016 22:56
  
  (Reuters) - Some of the world's largest buyout firms are preparing offers for Supervalu Inc'sSave-A-Lot business, making an outright sale of the U.S. discount grocery chain more likely than a...
  
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• C$ strengthens to 10-day high as oil recovers

  29-07-2016 22:55 via news.yahoo.com
  
  By Fergal Smith TORONTO (Reuters) - The Canadian dollar strengthened to a 10-day high against its U.S. counterpart on Friday as oil rose and a new property transfer tax in Vancouver loomed, while data showing the U.S. economy grew far less than expected offset weak domestic data. U.S. crude oil futures settled up 46 cents at $41.60 a barrel. "Flows due to the impending Vancouver real estate tax" added to support for the Canadian dollar, said Adam Button, currency analyst at ForexLive.
  
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• Italian, Irish, Spanish banks do worst in EU stress test

  29-07-2016 22:51 via news.yahoo.com
  
  By Huw Jones and Andrew MacAskill LONDON (Reuters) - Banks from Italy, Ireland, Spain and Austria fared worst in the latest European Union stress test, which the region's banking watchdog said on Friday showed there was still work to do in order to boost credit to the bloc's economy. Italy's Monte dei Paschi , Austria's Raiffeisen , Spain's Banco Popular and two of Ireland's main banks came out with the worst results in the European Banking Authority's test of 51 EU lenders.
  
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• Commerzbank touts 'robust' capital in EU stress test

  29-07-2016 22:51 via news.yahoo.com
  Germany's Commerzbank AG on Friday said an EU test of banks' financial health showed its capital is robust, after it posted a weaker reading than most of its European peers under an "adverse" financial stress scenario. Germany's second biggest bank showed a capital strength measure that was eighth from the bottom among 51 European lenders tested against a theoretical economic shock spanning three years to see how much their core capital would be depleted, according to data from the European Bank
  
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• Italy's Monte dei Paschi says rescue plan backed by underwriters

  29-07-2016 22:48
  
  MILAN (Reuters) - Italian bank Monte dei Paschi di Siena has secured underwriters to back a turnaround plan involving the sale of 9.2 billion euros ($10.3 billion) in bad loans and a 5 billion euros...
  
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• Italy's BMPS worst performer in EU banking stress tests

  29-07-2016 22:35 via news.yahoo.com
  
  Italy's Banca Monte dei Paschi di Siena came a distant last in EU bank stress test results released on Friday that showed the sector as a whole was broadly resilient. BMPS would suffer a 14.23 percent plunge in its core capital ratio -- a key measure of a bank's financial stability -- by 2018 under an economic shock scenario being modelled by the European Banking Authority. "The EBA's 2016 stress test shows the benefits of the capital strengthening done so far are reflected in the resilience of
  
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• Tech shares and muted GDP growth push S&P 500 to record

  29-07-2016 22:29 via news.yahoo.com
  
  Wall Street rose on Friday, with the S&P 500 index hitting a record intraday high for the seventh time this month as gains in technology heavyweights Alphabet and Amazon more than made up for losses in energy shares. Alphabet contributed the most to gains on the Nasdaq and the S&P 500. Aggregate second-quarter earnings of S&P 500 companies are now expected to fall 3.7 percent, worse than a 2.8 percent decline predicted on Thursday, according to Thomson Reuters I/B/E/S. U.S. gross dom
  
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• US STOCKS-Tech shares and muted GDP growth push S&P 500 to record

  29-07-2016 22:26 via news.yahoo.com
  Wall Street rose on Friday, with the S&P 500 index hitting a record intraday high for the seventh time this month as gains in technology heavyweights Alphabet and Amazon more than made up for losses in ...
  
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• Dollar slides on U.S. GDP, Japan bonds fall on BOJ move

  29-07-2016 22:25 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - Weak U.S. economic growth data knocked down the dollar and yields on U.S. government debt Friday, while Japanese government bond yields rose the most in eight years after investors reacted coolly to the Bank of Japan's latest effort to boost the economy. The U.S. economy grew far less than expected in the second quarter as inventory investment fell for the first time in nearly five years. The BOJ doubled its purchases of exchange-traded funds, yielding to pre
  
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• Oil ends July with worst monthly loss for WTI in a year

  29-07-2016 22:21 via news.yahoo.com
  
  Oil prices steadied on Friday after touching three-month lows amid a week-long selloff but still finished the month nearly 15 percent lower, with U.S. crude declining the most in a year because of a persistent glut. Slower economic growth and high inventories of crude and refined oil products have driven Brent and U.S. West Texas Intermediate (WTI) crude futures 20 percent below from their 2016 highs, technically placing them in bear market territory. Hedge funds, some of the biggest bulls in oi
  
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• Tech giants boost S&P 500, Nasdaq

  29-07-2016 22:09 via news.yahoo.com
  
  NEW YORK (Reuters) - Wall Street rose on Friday, with the S&P 500 index hitting a record intraday high for the seventh time this month, as gains in technology heavyweights Alphabet and Amazon more than made up for losses in energy shares.
  
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• Berkeley study finds scarce evidence of market 'front-running'

  29-07-2016 21:52 via news.yahoo.com
  
  Two University of California, Berkeley professors have taken a deep dive into new data and found that claims in Michael Lewis' bestseller "Flash Boys" that retail investors are being gouged, or "front-run," by high-speed traders not to be true - at least not now. Professors Robert Bartlett and Justin McCrary said their findings contradict the common belief that fast traders systematically exploit others who rely on public data feeds, which in the past were notoriously slow. "Flash Boys: A Wall S
  
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• Private equity firms focused on Hewlett Packard asset sales: sources

  29-07-2016 21:36
  
  (Reuters) - Buyout firms are focused on acquiring some software assets that Hewlett Packard Enterprise Co (HPE)has been considering divesting, worth between $6 billion and $8 billion, rather than...
  
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• UPDATE 3-Air Canada's shares slide on capacity, fare concerns

  29-07-2016 21:23
  
  July 29 (Reuters) - Air Canada shares fell 5 percent
  on Friday after the country's largest airline posted
  second-quarter results that raised concerns about downward
  pressure on fares.
  
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• Oil steadies, but month for WTI is worst in a year

  29-07-2016 21:08 via news.yahoo.com
  
  Oil prices recovered on Friday after a week-long selloff but still finished the month nearly 15 percent lower, with U.S. crude declining the most in a year because of a persisting glut. Slower economic growth and high inventories of crude and refined oil products have driven Brent and U.S. West Texas Intermediate (WTI) crude futures 20 percent below from their 2016 highs, technically placing them in bear market territory. The Brent September contract , which expired as the front-month, settled a
  
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• Oil rout erodes second-quarter profits for U.S. majors Exxon, Chevron

  29-07-2016 21:05 via news.yahoo.com
  
  Chevron Corp posted its worst quarterly loss since 2001 on Friday and Exxon Mobil Corp reported a 59 percent slide in profit, as the long crude price rout and tumbling refining income inflicted pain across the energy sector. Exxon, the world's largest publicly traded oil producer, shocked Wall Street as its quarterly profit missed expectations, sending its shares down as much as 4.5 percent on Friday. In the United States, where Exxon is the largest natural gas producer and a major oil producer,
  
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• US STOCKS-Tech shares and flaccid GDP growth push S&P 500 to record

  29-07-2016 21:03 via news.yahoo.com
  Wall Street rose on Friday, with the S&P 500 index hitting a record intraday high for the seventh time this month as gains in technology heavyweights Alphabet and Amazon more than made up for losses in ...
  
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• Inventory reduction curbs U.S. economic growth; rebound expected

  29-07-2016 21:03 via news.yahoo.com
  
  U.S. economic growth unexpectedly remained tepid in the second quarter as inventories fell for the first time in nearly five years and business investment weakened further, offsetting robust consumer spending. In addition, the GDP growth estimate for the fourth quarter was cut by five-tenths of a percentage point to a 0.9 percent rate. The three straight quarters of growth rates around 1 percent suggest a significant loss of momentum that puts the economy at the risk of stalling, but economists
  
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• Tech shares and flacid GDP growth push S&P 500 to record

  29-07-2016 20:53 via news.yahoo.com
  
  Wall Street rose on Friday, with the S&P 500 index hitting a record intraday high for the seventh time this month as gains in technology heavyweights Alphabet and Amazon more than made up for losses in energy shares. The stock weighed the most on the Nasdaq.
  
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• Petrobras sells oilfield asset to Statoil for $2.5 billion

  29-07-2016 20:48
  
  RIO DE JANEIRO/OSLO (Reuters) - Brazil's Petrobras on Friday agreed to sell one of its largest oil and gas prospects to Norway's Statoil for $2.5 billion, the boldest step yet by the state-led energy...
  
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• Oil rout erodes 2nd-quarter profits for U.S. majors Exxon, Chevron

  29-07-2016 20:38 via news.yahoo.com
  
  By Ernest Scheyder HOUSTON (Reuters) - Chevron Corp posted its worst quarterly loss since 2001 on Friday and Exxon Mobil Corp reported a 59 percent slide in profit, as the long crude price rout and tumbling refining income inflicted pain across the energy sector. "The key is to manage the cash flow as best they can and continue to execute on projects, which they do appear to be doing." Exxon, the world's largest publicly traded oil producer, shocked Wall Street as its quarterly profit missed exp
  
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• NextEra to buy bankrupt Energy Future Holdings' Oncor stake

  29-07-2016 20:28
  
  (Reuters) - Power producer NextEra Energy Incsaid it agreed to buy bankrupt Texas power company Energy Future Holdings Corp's stake in Oncor Electric Delivery Co in a deal valued at about $18.4...
  
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• UPDATE 4-NextEra to buy bankrupt Energy Future Holdings' Oncor stake

  29-07-2016 20:27
  
  July 29 (Reuters) - Power producer NextEra Energy Inc
  said it agreed to buy bankrupt Texas power company
  Energy Future Holdings Corp's stake in Oncor Electric Delivery
  Co in a deal valued at about...
  
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• Canadian wildfires push economy into contraction in May

  29-07-2016 19:56 via news.yahoo.com
  
  The Canadian economy suffered its worst contraction in more than seven years in May, mainly due to massive wildfires in the oil-sands region of Fort McMurray, the government said Friday. Canada's gross domestic product, the broad measure of goods and services, fell 0.6 percent in May from April, the largest monthly decline since March 2009, Statistics Canada said. The May contraction was mainly due to lower non-conventional oil extraction, mostly from the oil-sands region, as companies were forc
  
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• SABMiller backs AB InBev offer for biggest-ever consumer takeover

  29-07-2016 19:33
  
  LONDON/BRUSSELS (Reuters) - The board of brewer SABMillerwill recommend its shareholders approve a sweetened takeover offer by Anheuser-Busch InBev , the company said on Friday, capping a week of...
  
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• Exclusive: Liberty Global, Vodafone to win EU approval for Dutch tie-up - sources

  29-07-2016 19:15
  
  BRUSSELS (Reuters) - U.S. cable group Liberty Global and UK telecoms firm Vodafone are set to win EU antitrust approval for their plan to merge their Dutch operations after offering minor...
  
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• Inmarsat Homes In On Smaller Rival Avanti

  29-07-2016 18:42 via news.yahoo.com
  
  Two of the London‎ stock market's satellite operators are on course to collide in a potential £4bn takeover deal. Sky News has learnt that Inmarsat (Other OTC: IMASY - news) has approached Avanti Communications (LSE: AVN.L - news) about a transaction that would help to consolidate an industry struggling amid a capacity glut. The approach from Inmarsat was a preliminary one and talks between the two companies remain at an early stage, according to people close to the situation.
  
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• Swiber applies for judicial management instead of liquidation

  29-07-2016 18:28
  
  SINGAPORE, July 29 (Reuters) - Singapore oilfield services
  company Swiber Holdings Ltd said on Friday it has
  applied to place itself under judicial management instead of
  liquidation.
  
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• Brexit boost eludes Europe's investment banks, shows growing gap with Wall Street

  29-07-2016 18:12 via news.yahoo.com
  Total (LSE: 524773.L - news) bond trading revenues at five of Europe's top banks fell in the second quarter, lagging U.S. counterparts who capitalised on a spike in volatility from the Brexit vote and highlighting a growing gap between the biggest Wall Street and European banks. Despite increased revenue at Barclays (LSE: BARC.L - news) and BNP (Paris: FR0000131104 - news) Paribas from fixed income, commodities and currencies (FICC), a category which includes bond trading, the outcome for the Eu
  
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• FTSE ends flat, breaks five-week winning streak as Pearson plunges

  29-07-2016 18:07
  
  * But Barclays jumps after results(Adds details, closing prices)
  
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• Investments in online lenders fall 44 percent as investors shy from risks

  29-07-2016 18:03
  
  SAN FRANCISCO (Reuters) - Investments into online lending platforms have fallen sharply this year, according to a new report, largely a reaction to the woes at Lending Club and increased regulatory...
  
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• Dollar slides on GDP, Japan bonds fall on BOJ move

  29-07-2016 17:58 via news.yahoo.com
  
  Weak U.S. GDP data knocked down the dollar and yields on U.S. government debt on Friday, while Japanese government bond yields rose the most in eight years after investors coolly received the Bank of Japan's latest effort to boost the economy. The BOJ doubled its purchases of exchange-traded funds, yielding to pressure from the government and financial markets for bolder action, but the move still disappointed investors who sought more audacious measures. Japan's 10-year bond yield soared 10 bas
  
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• Obama to showcase TPP after trade deal demonized by other Democrats

  29-07-2016 17:56 via news.yahoo.com
  
  By Roberta Rampton WASHINGTON (Reuters) - During a state visit from Singapore's prime minister on Tuesday, President Barack Obama on Tuesday will extol the benefits of the Trans-Pacific Partnership (TPP) trade deal that his fellow Democrats demonized at their convention this week. Obama wants the U.S. Congress to approve the 12-nation trade deal, which he sees as a central part of his economic and foreign policy legacy, before he leaves the White House on Jan. 20.
  
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• Wall St. little changed; tech gains offset energy losses

  29-07-2016 17:42 via news.yahoo.com
  
  "I think there is some negative reaction to the announcement by the Bank of Japan. The economic data and earnings reports were also not fabulous this morning," said Paul Nolte, portfolio manager at Kingsview Asset Management. The Bank of Japan expanded stimulus on Friday by doubling purchases of exchange-traded funds, but the move disappointed investors who were looking for bolder measures.
  
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• Mediaset says Vivendi aware of pay-TV unit data before signing deal

  29-07-2016 17:33
  
  MILAN (Reuters) - Vivendi already had access to a business plan for Mediaset's pay-TV unit before agreeing to buy it, the Italian broadcaster said on Friday as the two companies kept trading punches...
  
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• Health insurer Cigna to look for M&A targets if Anthem deal fails

  29-07-2016 17:25
  
  (Reuters) - Health insurer Cigna Corpreported a lower-than-expected quarterly profit due to losses in its group disability and life business, and said it would look at acquisition targets if its...
  
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• Currency-predicting ETFs lag behind international stock funds

  29-07-2016 17:18
  
  NEW YORK (Reuters) - Algorithms are proving to be poor at timing currency markets, if a group of new exchange-traded funds is any indication.
  
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• Big data firm Talend soars 54 pct in debut

  29-07-2016 17:17
  
  July 29 (Reuters) - Shares of Talend SA, whose
  software helps businesses crunch large amounts of data, jumped
  54 percent in their U.S. debut, valuing the company at $773.7
  million.
  
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• UPDATE 3-Health insurer Cigna to look for M&A targets if Anthem deal fails

  29-07-2016 17:16
  
  * Shares fall as much as 6.4 pct(Adds conference call comments; updates shares)
  
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• Canada posts narrower budget surplus at start of fiscal year

  29-07-2016 17:09 via news.yahoo.com
  
  Canada posted a narrower budgetary surplus in the first two months of the fiscal year compared to the same time period a year ago as revenue decreased, the federal finance department said on Friday. Canada's Liberal government, which came to power last November, expects to run a budget deficit of C$29.4 billion for the 2016-17 fiscal year as it spends on infrastructure and other measures in a bid to stimulate an economy that has been hurt by the lower price of oil.
  
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• Alphabet and Amazon wind up stellar quarter for big tech

  29-07-2016 17:06 via news.yahoo.com
  
  Google parent Alphabet Inc and e-commerce giant Amazon.com Inc capped a blockbuster June quarter for the five biggest U.S. tech companies as their dominance in key markets helped them defy the "law of large numbers". Apple Inc, Microsoft Corp and Facebook Inc, as well as Alphabet and Amazon, all blew past Wall Street expectations for both profit and revenue. Alphabet's Class A shares rose 4.9 percent in early trading on Friday, boosting the company's market value by about $23 billion to $542 bil
  
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• Rising revenue boosts UPS profit; 2016 forecast confirmed

  29-07-2016 17:05 via news.yahoo.com
  
  By Nick Carey CHICAGO (Reuters) - United Parcel Service Inc reported a higher quarterly net profit on Friday that met analyst expectations as revenue grew across its business units, and the company reaffirmed its full-year earnings outlook despite global economic uncertainty. Chief Executive David Abney told Reuters UPS is adding capacity to its network and will work more closely with retailers ahead of this year's crucial holiday peak season.
  
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