Finance news

• GM and Ford U.S. sales miss mark but industry strong overall

  02-08-2016 23:38 via news.yahoo.com
  
  The biggest U.S. automakers, General Motors Co and Ford Motor Co , reported July U.S. sales that disappointed Wall Street on Tuesday but results were strong overall for the industry despite fears its long growth spurt may soon be over. GM reported that sales fell 2 percent to 267,258 vehicles, at the low end of expectations, while Ford posted sales of 216,479 vehicles, down 3 percent. Overall, July U.S. auto sales on Tuesday rose 0.7 percent to 1.52 million vehicles, according to Autodata Corp,
  
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• UPDATE 3-Biogen draws takeover interest from Merck, Allergan -WSJ

  02-08-2016 23:10
  
  Aug 2 (Reuters) - Biotechnology company Biogen Inchas drawn takeover interest from drug companies
  including Merck & Co Inc and Allergan Plc, The
  Wall Street Journal reported on Tuesday, citing...
  
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• Too soon to rule out rate hike at next Fed meeting: Lockhart

  02-08-2016 23:03 via news.yahoo.com
  
  Atlanta Federal Reserve Bank President Dennis Lockhart said on Tuesday it was too soon to rule out an interest rate increase at the U.S. central bank's next meeting in September, with a lot of data set to come in on the health of the economy. "At this point, I don't rule out a rate increase at the next meeting or later in the year," Lockhart said on CNBC. Lockhart, who does not have a vote on monetary policy this year, said the U.S. economy was faring better than its 1.2 percent annualized rate
  
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• Stocks stumble after weak U.S. data, dollar slides

  02-08-2016 23:00 via news.yahoo.com
  
  By Saqib Iqbal Ahmed NEW YORK (Reuters) - Weak U.S. economic data and disappointing auto sales numbers drove Wall Street down on Tuesday, further dragging on global equity prices after the approval of a fiscal stimulus package by Japan's cabinet failed to cheer markets. Data showing muted U.S. inflation hit the U.S. dollar, which dropped to a six-week low against a basket of currencies, while persistent worries of a supply glut sent U.S. crude prices back below $40 a barrel. Wall Street suffered
  
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• Global stocks stumble after weak U.S. data, dollar slides

  02-08-2016 22:54 via news.yahoo.com
  
  Weak U.S. economic data and disappointing auto sales numbers drove Wall Street down on Tuesday, further dragging on global equity prices after the approval of a fiscal stimulus package by Japan's cabinet failed to cheer markets. Data showing muted U.S. inflation hit the U.S. dollar, which dropped to a six-week low against a basket of currencies, while persistent worries of a supply glut sent U.S. crude prices back below $40 a barrel. Wall Street suffered its worst day in nearly a month after dat
  
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• U.S. consumer spending exits second quarter with strong momentum

  02-08-2016 22:53 via news.yahoo.com
  
  U.S. consumer spending rose more than expected in June as households bought goods and services, suggesting strength that appeared to be sustained early in the third quarter with auto sales surging to an eight-month high in July. Despite healthy consumer spending, Tuesday's report from the Commerce Department showed inflation still muted. Economists say this, together with weak business investment and the second quarter's anemic economic growth pace, could encourage a cautious Federal Reserve to
  
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• GLOBAL MARKETS-Stocks stumble after weak U.S. data, dollar slides

  02-08-2016 22:53 via news.yahoo.com
  Weak U.S. economic data and disappointing auto sales numbers drove Wall Street down on Tuesday, further dragging on global equity prices after the approval of a fiscal stimulus package by Japan's cabinet ...
  
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• Viacom and Redstone's National Amusements held settlement talks - WSJ

  02-08-2016 22:52 via news.yahoo.com
  
  (Reuters) - Top Viacom Inc executives recently held discussions with National Amusements Inc to settle litigation surrounding the media empire of Sumner Redstone, the Wall Street Journal reported on Tuesday. The Delaware judge ruled that Redstone's lawyers must defend in a trial his move to oust five directors from Viacom's board and suggested that he wants to get a better picture of the 93-year-old media mogul's mental capacity. Under the terms that were discussed by Viacom executives, Chief Ex
  
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• Exclusive: Husky oil spill in Canadian river followed two others nearby - records

  02-08-2016 22:43 via news.yahoo.com
  
  A Husky Energy Inc oil spill into a major Canadian river on July 20 was the third in the same area in eight months, government records showed, and could put new pressure on the province of Saskatchewan's energy regulator to improve its monitoring of pipelines. The economy ministry is the energy regulator in the western Canadian province and officials there told Reuters it has never physically inspected the 19-year-old Husky pipeline since it was constructed.‎ "In some ways, the oil industry
  
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• US stocks take biggest losses in nearly a month

  02-08-2016 22:41 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks took their biggest loss in almost a month on Tuesday as investors worried about the health of the U.S. economy and sold shares in retailers and car companies. Machinery companies also fell and the price of oil continued to decline.
  
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• Wall Street falls as weak auto sales spur growth jitters

  02-08-2016 22:32 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - Wall Street stocks fell on Tuesday, with each of the major indexes notching their worst day in about a month as economic data and weaker-than-expected auto sales spurred concerns about growth. Shares of Ford and General Motors dropped more than 4 percent each after the two major U.S. automakers reported July vehicle sales slightly below expectations.
  
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• Wall St. falls as weak auto sales spur growth jitters

  02-08-2016 22:32 via news.yahoo.com
  
  NEW YORK (Reuters) - Wall Street stocks fell on Tuesday, with each of the major indexes notching their worst day in about a month as economic data and weaker-than-expected auto sales spurred concerns about growth.
  
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• US STOCKS-Wall St falls as weak auto sales spur growth jitters

  02-08-2016 22:29 via news.yahoo.com
  Wall Street stocks fell on Tuesday, with each of the major indexes notching their worst day in about a month as economic data and weaker-than-expected auto sales spurred concerns about growth. Shares of ...
  
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• Olympics-Games unlikely to boost Brazil's economy, UBS says

  02-08-2016 22:15 via news.yahoo.com
  The Summer Olympics are unlikely to boost Brazil's economy, analysts with UBS wrote in a client note on Tuesday, but signs of recovery from the country's worst recession in decades should nevertheless emerge in the second half of this year. "With a price tag of well over $10 billion, for a country already facing considerable strains on its fiscal accounts and grave accusations of corruption in both the public and private sectors, the Rio Summer Olympics is unlikely to be an exception to the rule
  
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• Wall Street slips as car sales dent economic hopes

  02-08-2016 22:12 via news.yahoo.com
  
  NEW YORK (Reuters) - Stocks fell Tuesday on Wall Street, with each of the major indexes notching their largest daily percentage loss in about a month as economic data and weaker-than-expected auto sales spurred growth concerns. The Dow Jones industrial average fell 90.74 points, or 0.49 percent, to 18,313.77, the S&P 500 lost 13.81 points, or 0.64 percent, to 2,157.03 and the Nasdaq Composite dropped 46.46 points, or 0.9 percent, to 5,137.73. (Reporting by Chuck Mikolajczak; Editing by Dan G
  
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• Wall St. slips as car sales dent economic hopes

  02-08-2016 22:11 via news.yahoo.com
  
  NEW YORK (Reuters) - Stocks fell Tuesday on Wall Street, with each of the major indexes notching their largest daily percentage loss in about a month as economic data and weaker-than-expected auto sales spurred growth concerns.
  
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• Britain to look beyond London to help boost economy

  02-08-2016 21:58 via news.yahoo.com
  
  Britain aims to tackle the economic divide between London and the rest of the UK, the government said on Tuesday as part of efforts to boost the economy. Business Minister Greg Clark urged the government to look beyond London during the first meeting of the Economy and Industrial Strategy Committee. "(Clark) pointed out that the government should do more to support cities outside of London contribute more to the economy," a government spokesperson said.
  
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• Ghana's parliament rejects key IMF financing requirement

  02-08-2016 21:40 via news.yahoo.com
  
  Ghana's parliament on Tuesday overwhelmingly rejected a key tenet of a $918 million aid deal with the International Monetary Fund (IMF), breaching the terms of a 3-year programme meant to fix an economy dogged by high public debt. The MPs passed the Bank of Ghana (BoG) Amendment Bill to allow central bank financing of the government's budget deficit up to a ceiling of 5 percent of the previous year's total revenue instead of the zero financing demanded by the IMF.
  
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• Global stocks fall after weak U.S. data, dollar slides

  02-08-2016 21:36 via news.yahoo.com
  
  By Saqib Iqbal Ahmed NEW YORK (Reuters) - Weak U.S. economic data and losses in consumer discretionary shares drove Wall Street stocks down on Tuesday, further dragging on global equity prices after the approval of a fiscal stimulus package by Japan's cabinet failed to cheer markets. Data showing muted U.S. inflation hit the dollar, which dropped to a six-week low against a basket of currencies, while persistent worries of a supply glut sent U.S. crude prices back below $40 a barrel. Wall Street
  
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• GLOBAL MARKETS-Stocks fall after weak U.S. data, dollar slides

  02-08-2016 21:34 via news.yahoo.com
  Weak U.S. economic data and losses in consumer discretionary shares drove Wall Street stocks down on Tuesday, further dragging on global equity prices after the approval of a fiscal stimulus package by Japan's cabinet failed to cheer markets. Data showing muted U.S. inflation hit the dollar, which dropped to a six-week low against a basket of currencies, while persistent worries of a supply glut sent U.S. crude prices back below $40 a barrel.
  
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• U.S. July auto sales miss estimates, shares drop

  02-08-2016 21:22 via news.yahoo.com
  
  The biggest U.S. automakers on Tuesday reported July U.S. sales that disappointed Wall Street as skittish investors feared the industry's long pleasure trip of strong sales may soon be over, sending their shares skidding about 4 percent. General Motors Co reported that sales fell 2 percent to 267,258 vehicles, at the low end of expectations, while Ford Motor Co posted sales of 216,479 vehicles, down 3 percent. Each of Ford's four top-selling models lost ground, including the Explorer SUV, which
  
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• Wall Street stumbles as discretionary stocks weigh

  02-08-2016 21:20 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - Wall Street fell on Tuesday, with each of the major indexes on track for their worst day in over a month, as economic data and weaker than expected auto sales spurred growth concerns. Shares of Ford and General Motors dropped more than 4 percent each after the two major U.S. automakers reported July vehicle sales slightly below expectations. The declines in the automakers pulled the S&P consumer discretionary sector down 1.5 percent as the worst perf
  
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• Ferrari's supercar sales fuel second quarter earnings beat

  02-08-2016 21:12 via news.yahoo.com
  
  By Agnieszka Flak MILAN (Reuters) - Italian luxury carmaker Ferrari posted better-than-expected quarterly earnings on Tuesday, helped by strong demand for its supercars from Europe and China and margins strengthened by special edition and personalised models. Chief Executive Sergio Marchionne said the full-year forecasts were "the minimum points" expected and predicted a "phenomenal 2016". Supercar deliveries in the quarter rose 8 percent to 2,214 vehicles, helped by strong sales of Ferrari's 8-
  
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• US stocks hit the skids as consumer companies fall

  02-08-2016 20:59 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks are skidding Tuesday and are on track for their biggest drop in more than a month. Consumer companies are taking big losses as investors worry about the health of the U.S economy. Machinery companies are also down, while concerns about Europe's banks are hurting financial stocks. The price of oil continues to fall.
  
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• REFILE-Biogen draws takeover interest from Merck, Allergan - WSJ

  02-08-2016 20:58
  
  Aug 2 (Reuters) - Biotechnology giant Biogen Inchas drawn takeover interest from drug companies
  including Merck & Co Inc and Allergan Plc, the
  Wall Street Journal reported, citing people familiar...
  
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• Wall St. stumbles as discretionary stocks weigh

  02-08-2016 20:51 via news.yahoo.com
  
  Wall Street fell on Tuesday, with each of the major indexes on track for their worst day in over a month, as economic data and weaker than expected auto sales spurred growth concerns. Shares of Ford and General Motors dropped more than 4 percent each after the two major U.S. automakers reported July vehicle sales slightly below expectations.
  
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• US STOCKS-Wall St stumbles as discretionary stocks weigh

  02-08-2016 20:50 via news.yahoo.com
  Wall Street fell on Tuesday, with each of the major indexes on track for their worst day in over a month, as economic data and weaker than expected auto sales spurred growth concerns. Shares of Ford and ...
  
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• South Africa's rand, stocks slip ahead of elections

  02-08-2016 20:34 via news.yahoo.com
  
  South Africa's rand lost some ground against the U.S. dollar on Tuesday with traders taking a cautious stance ahead of local government elections on Wednesday and global economic data later in the week. Stocks slipped to an almost two-week low on Tuesday with financials among the biggest decliners on the index but gold mining companies kept the downside momentum in check. South Africa holds local elections on Wednesday when financial markets will remain closed and opinion polls suggest the rulin
  
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• Obama makes last push for Asia-Pacific trade deal

  02-08-2016 20:15 via news.yahoo.com
  
  Facing fierce opposition to a landmark Asia-Pacific trade deal, US President Barack Obama on Tuesday made a last-ditch economic and strategic case for Washington setting the terms of global trade. Painting the 12-country pact -- which does not include China -- as part of a battle with Beijing for regional influence, Obama also warned strengthening anti-trade forces that they could not roll back the tide. The pact is strongly backed by the White House -- where it is seen as a key part of Obama's
  
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• Judge refuses bonuses for execs at bankrupt Sports Authority

  02-08-2016 20:07
  
  WILMINGTON, Del., Aug 2 (Reuters) - A U.S. bankruptcy judge
  refused on Tuesday to allow Sports Authority to pay up to $2.85
  million in bonuses to four executives for overseeing the winding
  down of...
  
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• Wall Street pulled down by tech, auto stocks

  02-08-2016 19:08 via news.yahoo.com
  
  (Reuters) - Wall Street fell on Tuesday, with the S&P 500 and the Nasdaq having their worst day in more than a month, following weak economic data and losses in technology and consumer discretionary stocks.
  
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• US stocks skid as consumer and machinery companies fall

  02-08-2016 19:05 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks are skidding Tuesday and are on track for their biggest loss in more than a month. Consumer companies are taking big losses as investors worry about the health of the U.S economy. Machinery companies are also down, while concerns about Europe's banks are hurting financial stocks. The price of oil continues to fall.
  
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• Activist hedge fund Marcato gains 10.4 pct in July

  02-08-2016 19:00 via news.yahoo.com
  (Adds details on investments) By Svea Herbst-Bayliss BOSTON, Aug 2 (Reuters) - Marcato International, an activist hedge fund that mainly bets on U.S. equities, returned 10.4 percent in July, handily beating the broader stock market index's gain, when the fund made two new investments. Marcato last week said that it now owns 5.1 percent stakes in crane and heavy equipment manufacturer Terex Corp. and restaurant chain Buffalo Wild Wings Inc, sending the share price of both companies higher. Neithe
  
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• UPDATE 4-P&G beats 4th-qtr estimates, forecasts full-year sales growth

  02-08-2016 18:42
  
  Aug 2 (Reuters) - Procter & Gamble Co, the maker of
  Tide detergent and Gillette shaving products, reported
  higher-than-expected quarterly sales and profit as demand
  strengthened for its products for...
  
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• FTSE hits two-week low as stress tests keep pressure on bank stocks

  02-08-2016 18:16
  
  LONDON, Aug 2 (Reuters) - Britain's benchmark share index
  fell to a two-week low on Tuesday as the heavily weighted
  banking and energy sectors dropped, although motor insurer
  Direct Line jumped after...
  
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• Wall St pulled down by automaker, healthcare stocks

  02-08-2016 17:57 via news.yahoo.com
  
  Wall Street was lower on Tuesday following tepid economic data and losses in healthcare and consumer discretionary stocks. The stock was the top percentage loser on the Dow and the biggest drag on the S&P 500 index. Shares of Ford and General Motors dropped 4 percent each, after the two major U.S. automakers reported July vehicle sales slightly below expectations.
  
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• Stocks slip on Japan fiscal stimulus approval, yen rallies

  02-08-2016 17:56 via news.yahoo.com
  
  By Saqib Iqbal Ahmed NEW YORK (Reuters) - Wall Street stocks opened lower on Tuesday after weak U.S. economic data disappointed investors, further dragging on global equity prices after the approval of a fiscal stimulus package by Japan's cabinet failed to cheer markets. Japanese Prime Minister Shinzo Abe's cabinet approved 13.5 trillion yen (£100.49 billion) in fiscal measures on Tuesday. Last week, the Bank of Japan announced easing steps that disappointed investors who had hoped for mor
  
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• Global stocks slip on Japan fiscal stimulus approval, yen rallies

  02-08-2016 17:55 via news.yahoo.com
  By Saqib Iqbal Ahmed NEW YORK (Reuters) - Wall Street stocks opened lower on Tuesday after weak U.S. economic data disappointed investors, further dragging on global equity prices after the approval of a fiscal stimulus package by Japan's cabinet failed to cheer markets. Japanese Prime Minister Shinzo Abe's cabinet approved 13.5 trillion yen ($132 billion) in fiscal measures on Tuesday. Last week, the Bank of Japan announced easing steps that disappointed investors who had hoped for more.
  
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• BRIEF-German Pellets GmbH: downgrading of bond 2014/2019

  02-08-2016 17:55
  
  * Downgrading of bond 2014/2019, change in the quotation
  board of the Frankfurt Stock Exchange resolvedSource text for Eikon:Further company coverage:
  (Gdynia Newsroom)
  
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• Wall Street pulled down by automaker, healthcare stocks

  02-08-2016 17:50 via news.yahoo.com
  
  (Reuters) - Wall Street was lower on Tuesday following tepid economic data and losses in healthcare and consumer discretionary stocks.
  
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• GLOBAL MARKETS-Stocks slip on Japan fiscal stimulus approval, yen rallies

  02-08-2016 17:50 via news.yahoo.com
  Wall Street stocks opened lower on Tuesday after weak U.S. economic data disappointed investors, further dragging on global equity prices after the approval of a fiscal stimulus package by Japan's cabinet failed to cheer markets. "There's quite a lot of skepticism in the market as to whether this fiscal package can change anything," said Alvin Tan, a strategist at Societe Generale (Swiss: 519928.SW - news) . Last week, the Bank of Japan announced easing steps that disappointed investors who had
  
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• WIDER IMAGE-Mixed feelings for Rio residents just days ahead of Olympics

  02-08-2016 17:12 via news.yahoo.com
  * Reuters photo essay: http://reut.rs/2afkjax (Adds photo slideshow link) By Pilar Olivares RIO DE JANEIRO Aug 2 (Reuters) - Just days before Rio de Janeiro hosts South America's first Olympics, city residents expressed mixed feelings about the cost and security of the Games, while holding out hope they will bring joy to a nation facing economic and political crises. Taxi driver Abner Lelis welcomed what Mayor Eduardo Paes touts as one of the Games' biggest legacies: improved transportation. Stu
  
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• UK construction hit by Brexit but some weathering storm

  02-08-2016 16:56
  
  LONDON, Aug 2 (Reuters) - As Britain's construction industry
  reels from its sharpest downturn for seven years, it is
  companies that operate under longer-term contracts and have less
  exposure to...
  
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• UPDATE 3-Poland softens Swiss franc loans conversion plans

  02-08-2016 16:55
  
  * Consumer lobby group criticizes presidential proposal(Adds comment from consumer lobby group and analyst)
  
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• Wall St opens lower; Pfizer weighs on Dow

  02-08-2016 16:27 via news.yahoo.com
  
  Wall Street opened lower on Tuesday after Pfizer's tepid forecast and weak U.S. economic data disappointed investors. Dow component Pfizer reported revenue and profit above analysts' estimates, but maintained its previous forecast for the year, sending its shares down 2 percent to $36.66. The stock was the top percentage loser on the Dow and the biggest drag on the S&P 500.
  
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• Wall Street opens lower; Pfizer weighs on Dow

  02-08-2016 16:10 via news.yahoo.com
  
  (Reuters) - Wall Street opened lower on Tuesday after Pfizer's tepid forecast and weak U.S. economic data disappointed investors.
  
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• Wall Street opens slightly lower

  02-08-2016 15:36 via news.yahoo.com
  
  (Reuters) - U.S. stocks opened slightly lower on Tuesday as investors assessed a host of earnings reports and economic data.
  
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• Nigeria to raise nearly a billion dollars in naira Treasury bills

  02-08-2016 15:32 via news.yahoo.com
  
  Nigeria plans to raise 245.18 billion naira ($773.44 million)worth of Treasury bills with maturities ranging between three months and a year on Aug. 3, traders said on Tuesday citing a central bank Treasury bill calendar. The central bank plans to issue 45.18 billion naira in 3-month debt, 80 billion naira of 6-month paper and 120 billion naira of 1-year bills in a Dutch auction, they said. Yields on fixed income securities have been rising in recent months with the central bank mopping up naira
  
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• US consumer spending steady in June

  02-08-2016 15:29 via news.yahoo.com
  
  US consumers in June continued to spend faster than they earned while inflation slowed, according to official data released Tuesday. American consumers shelled out an additional 0.4 percent, or $53 billion more than they had in May, while their disposable personal incomes had risen by only $24.6 billion, or 0.2 percent, according to the Commerce Department. June's rise in personal income largely reflected rising wages and non-farm proprietors' income, the Commerce Department's Bureau of Economic
  
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• Shire lifts earnings and Baxalta cost saving targets

  02-08-2016 14:50 via news.yahoo.com
  
  By Paul Sandle LONDON (Reuters) - Drugmaker Shire upgraded its profit guidance for 2016 on Tuesday, after it hiked the predicted cost saving target for its $32 billion (£24.17 billion) acquisition of rare disease drugs specialist Baxalta and beat forecasts for the second quarter. Shire, which makes drugs to treat hyperactivity as well as rare diseases, reported second-quarter revenue of $2.43 billion while non-GAAP earnings per American Depositary Receipt, its preferred earnings measure, r
  
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