Finance news

• BRIEF-Caesars Entertainment, CECO reach agreement with group of second lien noteholders

  01-08-2016 23:43
  
  * Caesars entertainment, ceoc reach agreement with group of
  second lien noteholders
  
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• UPDATE 1-Brazil activist investor seeks meeting on Oi SA and Pharol

  01-08-2016 23:41
  
  SAO PAULO, Aug 1 (Reuters) - A Brazilian activist investor
  with a stake in bankrupt telecom provider Oi SA has
  requested a meeting with shareholders to discuss allegations
  that the carrier's majority...
  
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• CORRECTED-Brazil activist investor seeks meeting on Oi SA and Pharol

  01-08-2016 23:38
  
  SAO PAULO, Aug 1 (Reuters) - A Brazilian activist investor
  with a stake in bankrupt telecom provider Oi SA has
  requested a shareholders meeting to discuss its allegations that
  the carrier's majority...
  
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• BRIEF-Tanger prices offering of senior notes due 2026

  01-08-2016 23:27
  
  * Estimated net proceeds from offering, after deducting
  underwriting discount and offering expenses, expected to be
  about $246.7 million
  
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• BRIEF-Elizabeth Arden says co, certain foreign subsidiaries enter into amendment of credit facility

  01-08-2016 23:22
  
  * On july 26, 2016, co, certain foreign subsidiaries entered
  into amendment of existing credit facility with syndicate of
  banks
  
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• BRIEF-Seventy Seven Energy Inc says "emerges from chapter 11 bankruptcy"

  01-08-2016 23:16
  
  * Seventy Seven Energy Inc. emerges from chapter 11
  bankruptcy
  
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• Rio opening ceremony to break with opulent traditions

  01-08-2016 23:07 via news.yahoo.com
  
  By Karolos Grohmann RIO DE JANEIRO (Reuters) - The Rio de Janeiro Olympics opening ceremony on Friday will break with the recent tradition of large-scale and expensive shows, featuring a low-emissions cauldron and an "analogue" experience, executive producer Marco Balich said on Monday. With four days to go until the first Games in South America get under way, Balich told Reuters the show at the Maracana stadium was tailored to the current economic conditions in the country. "This is not an opul
  
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• Wall Street edges lower as energy sector weighs

  01-08-2016 22:29 via news.yahoo.com
  
  The S&P 500 and the Dow closed slightly lower on Monday, as a drop in oil prices dragged down energy stocks, while tech names Apple and Alphabet helped lift the Nasdaq to its highest close in over a year. The S&P 500 had hit a record high earlier in the session, but was unable to hold gains as U.S. crude slumped to below $40 a barrel, its lowest level since April, before settling at $40.06. "Oil has once again re-emerged as a real driver of how investors are gauging the trend for equitie
  
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• Wall St. edges lower as energy sector weighs

  01-08-2016 22:29 via news.yahoo.com
  
  The S&P 500 had hit a record high earlier in the session, but was unable to hold gains as U.S. crude slumped to below $40 a barrel, its lowest level since April, before settling at $40.06. "Oil has once again re-emerged as a real driver of how investors are gauging the trend for equities," said Peter Kenny, senior market strategist at Global Markets Advisory Group in New York. The S&P 500 gained 3.6 percent in July, its best month since March, touching record intraday highs seven times,
  
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• Cuba says talks with U.S. over claims cannot be rushed

  01-08-2016 22:18 via news.yahoo.com
  
  By Sarah Marsh HAVANA (Reuters) - Cuba said on Monday it was not willing to rush talks with the United States over multibillion-dollar claims and counter-claims and would agree only to an accord that addressed the grievances of both sides. Washington is seeking upward of $10 billion, mainly for properties nationalized in Communist-run Cuba after its 1959 revolution. Havana, meanwhile, wants at least $300 billion for economic damage wrought by the U.S. trade embargo and for the harm caused by act
  
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• Energy shares drag on S&P 500 and Dow; Nasdaq gains

  01-08-2016 22:06 via news.yahoo.com
  
  NEW YORK (Reuters) - The S&P 500 and the Dow closed slightly lower on Monday as a drop in oil prices dragged down energy stocks, while tech names Apple and Alphabet helped lift the Nasdaq. The Dow Jones industrial average fell 27.46 points, or 0.15 percent, to 18,404.78, the S&P 500 lost 2.83 points, or 0.13 percent, to 2,170.77 and the Nasdaq Composite added 22.07 points, or 0.43 percent, to 5,184.20. (Reporting by Chuck Mikolajczak; Editing by Dan Grebler)
  
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• U.S. and China to win most gold in Rio : Goldman Sachs

  01-08-2016 21:52 via news.yahoo.com
  
  The world's two largest economies, the United States and China, will again win most gold medals at the Olympics and Britain will push Russia into third place in the overall standings, Goldman Sachs predicted in a survey released on Monday. American athletes will come away with 45 gold medals from the Rio de Janeiro Games which start on Friday, one less that they got in London four years ago, while China will win 36, two fewer than in 2012, according to the investment bank's economists. Beyond at
  
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• Olympics-U.S. and China to win most gold in Rio - Goldman Sachs

  01-08-2016 21:48 via news.yahoo.com
  The world's two largest economies, the United States and China, will again win most gold medals at the Olympics and Britain will push Russia into third place in the overall standings, Goldman Sachs predicted in a survey released on Monday. American athletes will come away with 45 gold medals from the Rio de Janeiro Games which start on Friday, one less that they got in London four years ago, while China will win 36, two fewer than in 2012, according to the investment bank's economists. Beyond at
  
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• Wall Street retreats from record high as energy shares fall with oil

  01-08-2016 21:06 via news.yahoo.com
  
  The S&P 500 and the Dow dipped in afternoon trading on Monday, as a drop in oil prices dragged down energy stocks, while tech names Apple and Alphabet helped drive the Nasdaq higher. The S&P had hit a record high earlier in the session, but was unable to hold gains as U.S. crude fell below $40 a barrel to its lowest level since April. The correlation between oil prices and equities, which had been very strong until oil rose above $40, is resurfacing now, said Randy Frederick, managing di
  
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• Wall St. retreats from record high as energy shares fall with oil

  01-08-2016 20:59 via news.yahoo.com
  
  The S&P had hit a record high earlier in the session, but was unable to hold gains as U.S. crude fell below $40 a barrel to its lowest level since April. The correlation between oil prices and equities, which had been very strong until oil rose above $40, is resurfacing now, said Randy Frederick, managing director of trading and derivatives for Charles Schwab in Austin, Texas. The S&P gained 3.6 percent in July - its best month since March - touching intraday highs seven times, on improv
  
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• UPDATE 3-Gawker Media founder files for personal bankruptcy

  01-08-2016 20:38
  
  NEW YORK, Aug 1 (Reuters) - Gawker Media Chief Executive
  Nick Denton filed for personal bankruptcy protection on Monday,
  according to court documents that name his largest creditor as
  Hulk Hogan, a...
  
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• Skidding oil prices pull down S&P from record high

  01-08-2016 19:38 via news.yahoo.com
  
  The S&P 500 and the Dow fell in early afternoon trading on Monday, dragged down by energy stocks as oil prices fell, while the Nasdaq was led higher by Apple and Alphabet. The S&P, which had earlier hit a fresh intraday all-time high, has been on a record-setting rally - helped by largely positive data and strong earnings. The S&P gained 3.6 percent in July - its best month since March - lifting its valuation well above historical levels.
  
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• Podcast: Inside the cord-cutting movement

  01-08-2016 19:26
  
  The “cord-cutting” phenomenon isn’t new. A 2015 Pew survey of television habits found one-in-seven Americans have cut their cable or satellite subscriptions.
  
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• U.S. factory activity slips; construction spending hits one-year low

  01-08-2016 19:22 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - U.S. manufacturing activity eased in July amid shrinking order backlogs and declining employment, while an unexpected drop in construction spending in June suggested second-quarter economic was probably even weaker than reported last week. The Institute for Supply Management's (ISM) report on Monday also showed manufacturers ramping up production to an 18-month high even as factories continued to draw down inventories, which some economists said pointed t
  
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• Sony wins unconditional EU approval for Michael Jackson deal

  01-08-2016 18:57
  
  BRUSSELS (Reuters) - EU antitrust regulators on Monday cleared Sony Corp's bid to buy out Michael Jackson's stake in its music publishing joint venture, the world's largest with copyrights to the...
  
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• World stocks softer, Italian banks suffer

  01-08-2016 18:32 via news.yahoo.com
  
  European stocks closed softer on weak economic data but off their lows, while Wall Street was steady and investors tried to see the bright side of recent stress tests for banks. London slid 0.5 percent after a survey showed Britain's manufacturing industry has slumped to its lowest level in more than three years on the back of Brexit. The Milan stock market index ended the day 1.7 percent lower, dragged down by financials.
  
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• Gawker Media founder to file for personal bankruptcy-source

  01-08-2016 18:13
  
  Aug 1 (Reuters) - Gawker Media founder and CEO Nick Denton
  will file for personal bankruptcy protection as early as Monday
  after losing a fight in a Florida court for a shield against a
  court ruling...
  
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• FINRA accuses broker of defrauding elderly client of $184,000

  01-08-2016 17:53
  
  NEW YORK (Reuters) - The Financial Industry Regulatory Authority filed a complaint on Monday accusing a New York broker of defrauding an elderly blind woman of $184,000.
  
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• Tech stocks power S&P to yet another record high

  01-08-2016 17:50 via news.yahoo.com
  
  The S&P 500 hit a record intraday high on Monday, led by tech stocks such as Apple and Google-parent Alphabet, but a drop in oil prices weighed on energy stocks. The S&P 500 gained 3.6 percent in July, lifting its valuation well above historical levels. Oil prices fell about 2.3 percent due to an increase in OPEC production and U.S. oil rig additions.
  
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• Verizon to buy vehicle management company Fleetmatics for $2.4 billion

  01-08-2016 17:41
  
  (Reuters) - Verizon Communications Inc said on Monday it would buy GPS vehicle tracking firm Fleetmatics Group Plc for about $2.4 billion in cash to bolster its expansion into the connected vehicle...
  
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• Tesla offers $2.6 billion to buy sister firm SolarCity; both shares drop

  01-08-2016 17:35
  
  (Reuters) - SolarCity Corpagreed to be acquired by sister company Tesla Motors Incin a deal worth $200 million less than the initial offer, sending shares of both companies down in early trading...
  
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• Trina Solar accepts $1.1 billion go-private offer from investor group

  01-08-2016 17:29
  
  (Reuters) - Chinese solar panel maker Trina Solar Ltdsaid on Monday it would be taken private in a deal valuing it at about $1.1 billion, accepting an offer from a consortium including its chief...
  
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• Iran's Khamenei renews criticism of nuclear deal

  01-08-2016 17:06 via news.yahoo.com
  
  Iranian Supreme Leader Ayatollah Ali Khamenei renewed his criticism of a nuclear deal signed with six world powers in a speech in Tehran on Monday, and accused the United States of failing to keep its side of the bargain. Under the deal, which came into force in October, world powers agreed to drop crippling multilateral economic sanctions against Iran in exchange for measures designed to ensure that it cannot develop nuclear weapons. Iran's moderate president, Hassan Rouhani, promised Iranians
  
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• BRIEF-Dex Media emerges from Chapter 11 bankruptcy

  01-08-2016 16:59
  
  * Dex Media completes financial restructuring, emerges from
  Chapter 11
  
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• U.S. factory activity dips; construction spending weak

  01-08-2016 16:43 via news.yahoo.com
  
  U.S. manufacturing activity slowed in July as orders fell broadly, while a drop in construction spending in June suggested a downward revision to the second-quarter economic growth estimate published last week.
  
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• World stocks dip, Italian banks suffer

  01-08-2016 16:22 via news.yahoo.com
  
  Global stock markets mostly fell Monday on poor post-Brexit manufacturing data, with Italy rocked also by stress tests which sparked fresh questions about the health of its troubled banks.
  
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• Construction spending falls to one-year low in June

  01-08-2016 16:16 via news.yahoo.com
  
  WASHINGTON (Reuters) - U.S. construction spending fell for a third straight month in June as outlays dropped across the board, suggesting a downward revision to the second-quarter economic growth estimate published last week. Construction spending declined 0.6 percent to its lowest level since June 2015 after an upwardly revised 0.1 percent dip in May, the Commerce Department said on Monday. Construction outlays were up 0.3 percent from a year ago. Economists polled by Reuters had forecast const
  
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• UK resists Chinese pressure over nuclear deal but still wants close ties

  01-08-2016 16:14 via news.yahoo.com
  By William James and Ben Blanchard LONDON/BEIJING (Reuters) - Britain said on Monday that it wanted closer ties with China but resisted pressure from Beijing to sign off on a $24 billion nuclear power project that was delayed at the last minute by Prime Minister Theresa May. May's decision to review the building of Britain's first nuclear plant in decades has raised concerns that her government could take a sterner view of Chinese investment, potentially souring ties with the world's second larg
  
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• Wall Street opens lower as energy stocks weigh

  01-08-2016 16:09 via news.yahoo.com
  
  Oil prices fell 1.9 percent due to increases in OPEC production and U.S. oil rig additions. The S&P 500 index hit a new intra-day high on Friday for the seventh time in a month, while the Nasdaq ended July with a rise of 6.6 percent. Growth in U.S. gross domestic product in the second quarter came in below expectations, fuelling speculation that the Federal Reserve may not pull the trigger on interest rates anytime soon.
  
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• How to afford raising a world-class athlete

  01-08-2016 16:07
  
  NEW YORK(Reuters) - When the Summer Olympics begin in Rio on Aug. 5, you will see 10,000 of the world's best athletes compete, and a much smaller number of them being draped with medals.
  
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• Pfizer acquires Bamboo Therapeutics to beef up gene therapy arsenal

  01-08-2016 16:02
  
  (Reuters) - Pfizer Inc said it had acquired privately held gene therapy developer Bamboo Therapeutics Inc in a deal worth up to $645 million to boost its presence in the treatment of rare diseases.
  
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• Olympics-Rowing training cancelled as strong winds hit Rio

  01-08-2016 15:09 via news.yahoo.com
  By Karolos Grohmann RIO DE JANEIRO, Aug 1 (Reuters) - Rowing training for Olympic competitors in Rio de Janeiro was cancelled on Monday as strong winds swept across the Brazilian city, organisers said. The Games, the first on South American soil, are due to kick off on Friday, with organisers rushing to complete venues and infrastructure amid troubled preparations, as well as political and economic turmoil in the country. Weather conditions in Rio have so far not helped them, with the main ramp
  
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• Egypt's Sisi warns tough measures to fix economy are looming

  01-08-2016 15:08 via news.yahoo.com
  
  By Omar Fahmy CAIRO (Reuters) - President Abdel Fattah al-Sisi warned Egyptians on Monday that tough measures would be needed to turn the country's ailing economy around, as the government negotiates a $12 billion loan programme with the International Monetary Fund. In a bid to prepare public opinion for a series of measures that will include subsidy cuts, tax reforms, and privatisations of state-owned companies, Sisi told Egyptians the government needed their support to weather the storm. "The
  
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• Wall Street set to open slightly higher

  01-08-2016 15:06 via news.yahoo.com
  
  U.S. stocks were set to open slightly higher on Monday, the first trading day of the month, as the chances of a near-term interest rate hike faded following weak economic growth data last week. The S&P 500 index hit a new intra-day high on Friday for the seventh time in a month, while the Nasdaq ended July with a rise of 6.6 percent. Growth in U.S. gross domestic product in the second quarter came in below expectations, fuelling speculation that the Federal Reserve may not pull the trigger o
  
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• European stocks mostly dip, Italian banks suffer

  01-08-2016 15:01 via news.yahoo.com
  
  London (AFP) - European stock markets mostly fell Monday on poor post-Brexit manufacturing data, with Italy rocked also by stress tests which sparked fresh questions over the health of its troubled banks.
  
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• Mixed manufacturing survey keep a lid on global markets

  01-08-2016 14:35 via news.yahoo.com
  
  LONDON (AP) — European stock markets drifted lower Monday after a mixed set of manufacturing surveys from around the world, notably from China.
  
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• Wanda Cinema Line scraps plan to buy parent of Legendary Entertainment

  01-08-2016 14:31
  
  (Reuters) - Wanda Cinema Line Corphas canceled a plan to acquire a sister company that owns U.S. film studio Legendary Entertainment.
  
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• After bruising China battle, Uber cedes to rival Didi

  01-08-2016 14:30
  
  (Reuters) - After a bruising two-year battle, ride-hailing firm Uber is selling its China operations to bigger local rival Didi Chuxing in a deal that will give Uber a one-fifth stake in Didi.
  
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• Recession ahead in Britain? Factories slow, business confidence tumbles

  01-08-2016 13:38 via news.yahoo.com
  
  The news will give more impetus for the Bank of England to cut interest rates this week. Falling output and new orders pushed a closely watched index of factory purchasing managers to its lowest since February 2013, adding to signs that Britain's decision to leave the European Union is hurting the economy. British accountants, meanwhile, said that confidence plunged just after the EU vote, while the Confederation of British Industry said on Sunday that firms expect economic growth to grind almos
  
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• Global stocks hit highest in a year but banks take shine off Europe

  01-08-2016 13:18 via news.yahoo.com
  
  By Nigel Stephenson LONDON (Reuters) - Global stocks hit their highest in almost a year on Monday as investors pared back expectations of when U.S. interest rates would rise, although a fall in bank shares after stress tests took the shine off European shares. Wall Street, however, looked set to open higher, according to index futures, potentially giving another nudge up to MSCI's world stocks index, which touched its highest level since mid-August 2015 before pulling back slightly. The dollar r
  
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• Maurel et Prom chief sells out to Indonesia's Pertamina

  01-08-2016 12:53
  
  PARIS/JAKARTA (Reuters) - Indonesian state energy firm Pertamina plans to buy a one quarter stake in France's Maurel et Prom from its boss and extend the offer to take over the rest of the...
  
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• Israel's taxman investigating 8,000 accounts at HSBC in Switzerland

  01-08-2016 12:49
  
  JERUSALEM (Reuters) - Israel's tax authority, looking to crack down on unreported capital, said on Monday it has received a list from French authorities of more than 8,000 Israeli customers that held...
  
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• GSK and Google parent forge $715 million bioelectronic medicines firm

  01-08-2016 11:34
  
  LONDON (Reuters) - GlaxoSmithKline and Google parent Alphabet's life sciences unit are creating a new company focused on fighting diseases by targeting electrical signals in the body, jump-starting a...
  
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• Currency impact to take froth off Heineken earnings

  01-08-2016 10:37 via news.yahoo.com
  
  By Philip Blenkinsop BRUSSELS (Reuters) - Heineken, the world's third-largest brewer, forecast a bigger blow from declining currencies this year after a first half when strength in Asia and Europe helped to offset declining sales in Africa. The brewer of Heineken, Europe's best-selling lager, Tiger and Sol said its African markets were unlikely to recover in the near term and the weaker Mexican peso, Nigeria naira and British pound would reduce earnings. The gap between Heineken and market leade
  
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• Heineken fizz falls flat as half-year profits drop

  01-08-2016 10:16 via news.yahoo.com
  
  Dutch brewing giant Heineken had little to cheer Monday as it unveiled a 48.8 drop in half year net profits, warning of "a challenging economic backdrop". Year-on-year net profits in the first half of 2016 fell to 586 million euros ($654 million) from 1.14 billion euros the previous year, Heineken said in a statement. Founded in the 19th century, Heineken produces and sells more than 250 brands including Desperados tequila-flavoured beer, Sol and Strongbow cider and employs about 73,000 people a
  
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