Finance news

• BRIEF-Golden Band Resources obtains order to implement Bankruptcy and Insolvency Act proposal

  12-08-2016 23:54
  
  * Court of Queen's Bench for Saskatchewan granted approval
  to implement Bankruptcy and Insolvency Act proposal by co to its
  creditors
  
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• Global stocks pressured by soft economic data

  12-08-2016 23:53 via news.yahoo.com
  
  New York (AFP) - European and Wall Street stocks were under pressure Friday as soft data from the US, China and the eurozone prompted mild profit-taking.
  
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• BRIEF-Maxim Integrated files for potential mixed shelf, size not disclosed

  12-08-2016 23:43
  
  * Files for potential mixed shelf, size not disclosed - SEC
  filingSource text: (http://bit.ly/2b3Thzn)
  Further company coverage:
  (Bengaluru Newsroom: +1-646-223-8780)
  
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• BRIEF-Anadarko Petroleum files for potential mixed shelf, size not disclosed

  12-08-2016 23:34
  
  * Files for potential mixed shelf, size not disclosed - SEC
  filingSource text for Eikon: (http://bit.ly/2aStYkO)
  Further company coverage:
  
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• Tepper's Appaloosa cuts back on some big energy bets in second quarter

  12-08-2016 23:31
  
  BOSTON (Reuters) - Billionaire hedge fund manager David Tepper cut back on some of his biggest bets in the energy sector and sold off other names during the second quarter, according to a regulatory...
  
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• Loeb's Third Point makes more new bets on energy, cuts stake in Dow

  12-08-2016 23:22
  
  BOSTON (Reuters) - Billionaire investor Daniel Loeb's hedge fund Third Point added new bets in the energy and information technology sectors with investments in Whiting Petroleum Corp., Facebook and...
  
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• Lyft rebuffs acquisition interest from GM: report

  12-08-2016 23:15
  
  SAN FRANCISCO (Reuters) - Ride hailing company Lyft rebuffed acquisition interest from General Motors Co and will raise a new funding round instead, technology website The Information reported on...
  
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• US stock indexes edge mostly lower; oil rises

  12-08-2016 23:13 via news.yahoo.com
  
  Wall Street capped a record-setting week with a day of mostly listless trading Friday that left the three major U.S. stock indexes essentially flat.
  
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• U.S. judge in Anthem merger trial sets trial for November 21, plans ruling by late January 2017

  12-08-2016 23:06
  
  WASHINGTON (Reuters) - The judge overseeing the U.S. Justice Department's bid to stop health insurer Anthemfrom merging with competitor Cignasaid on Friday her goal was to have a ruling by the...
  
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• Wall St. ends little changed though Nasdaq hits record high close

  12-08-2016 22:51 via news.yahoo.com
  
  Among the S&P 500’s biggest drags was Dow Chemical , which fell 2.4 percent to $52.33, while DuPont declined 1.9 percent to $67.66, a day after European Union regulators opened a full investigation of their $130 billion merger agreement. The S&P materials index , down 1.2 percent, led sector declines in the benchmark index. All three major U.S. stock indexes ended at record highs on Thursday for the first time since 1999, extending a recent rally that has increased investor concern
  
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• Wall Street ends little changed though Nasdaq hits record high close

  12-08-2016 22:49 via news.yahoo.com
  
  The Dow and S&P 500 eased from record highs on Friday as tepid data dampened investor confidence in the economy's expansion, while the Nasdaq inched up to a second straight record high close. Among the S&P 500's biggest drags was Dow Chemical, which fell 2.4 percent to $52.33, while DuPont declined 1.9 percent to $67.66, a day after European Union regulators opened a full investigation of their $130 billion merger agreement. The S&P materials index, down 1.2 percent, led sector decli
  
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• SunEdison delays filing second-quarter results

  12-08-2016 22:46
  
  Aug 12 (Reuters) - Bankrupt solar company SunEdison Inc
  on Friday joined its "yieldcos" in delaying earnings
  report for the second-quarter ended June 30.
  
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• Dollar, yields fall after tepid U.S. economic data

  12-08-2016 22:38 via news.yahoo.com
  
  NEW YORK (Reuters) - Soft U.S. economic data weighed on the dollar and Treasury yields on Friday and pressured stock prices, but Wall Street's losses were mitigated by continued gains in oil prices and the Nasdaq inched up for a second straight record high.
  
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• Sete Brasil to seek up to $5 bln funding in reorganization plan

  12-08-2016 22:08
  
  SAO PAULO, Aug 12 (Reuters) - Sete Brasil Participações SA
  will present on Friday a draft reorganization plan that includes
  seeking up to $5 billion in funding and a dramatic downsizing of
  business,...
  
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• Wall Street little changed, Nasdaq ends at record high

  12-08-2016 22:06 via news.yahoo.com
  
  NEW YORK (Reuters) - The Dow and S&P 500 dipped from record highs on Friday as tepid data dampened investor confidence in the economy's expansion, while the Nasdaq inched up to a second straight record high close. The Dow Jones industrial average fell 37.12 points, or 0.2 percent, to 18,576.4, the S&P 500 lost 1.74 points, or 0.08 percent, to 2,184.05 and the Nasdaq Composite added 4.50 points, or 0.09 percent, to 5,232.90. (Reporting by Caroline Valetkevitch; Editing by James Dalgleish)
  
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• Wall St. little changed, Nasdaq ends at record high

  12-08-2016 22:05 via news.yahoo.com
  
  NEW YORK (Reuters) - The Dow and S&P 500 dipped from record highs on Friday as tepid data dampened investor confidence in the economy's expansion, while the Nasdaq inched up to a second straight record high close.
  
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• Ackman cheers as Fidelity funds unload more Herbalife shares

  12-08-2016 22:01
  
  BOSTON (Reuters) - One of Herbalife Ltd's largest investors sold more of the company's stock, just weeks after the U.S. government told the protein shake maker to reorganize its business, according...
  
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• Nike's stock falls behind rivals at Rio Olympics

  12-08-2016 21:22
  
  SAN FRANCISCO, Aug 12 (Reuters) - Nike has top billing among sports brands at the Rio Olympics, but a week into the games, its stock is losing to Adidas and Under Armour.
  
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• Global stocks recede from highs, dollar and yields weaken

  12-08-2016 20:39 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - U.S. stock indexes pulled back on Friday from record peaks amid soft U.S. economic data that also weighed on the dollar and Treasury yields and tempered expectations of a near-term rise in U.S. interest rates. A short-covering rally extended gains for oil prices, which were on track for their biggest weekly advance in at least three months. MSCI's all-world stock index shed 0.1 percent, but lingered around year highs.
  
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• Tepid economic data pulls Wall Street back from highs

  12-08-2016 20:24 via news.yahoo.com
  
  (Reuters) - U.S. stocks fell from record highs on Friday as tepid retail sales and producer price data dampened investor confidence in the economy's expansion.
  
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• Quebec's Caisse sees weak global growth, eyes UK opportunities

  12-08-2016 20:18
  
  TORONTO (Reuters) - Caisse de depot et Placement du Quebec, Canada's second-biggest public pension fund, warned of weak global growth in the years ahead after market volatility led to a sharp fall in...
  
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• United flight attendants approve first joint contract

  12-08-2016 19:59 via news.yahoo.com
  
  Some 53 percent of those who voted approved the deal, which will mark the first labor contract to cover all 25,000 flight attendants from both United and Continental, the Association of Flight Attendants-CWA said in a news release. The ratification represents a victory for new Chief Executive Officer Oscar Munoz, who has sought new contracts and harmony with workers for the No. 3 U.S. airline by passenger traffic. "The contract provides immediate economic gains, sets a new industry standard and
  
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• Weak U.S. retail sales, inflation data dim prospect of Fed rate hike

  12-08-2016 19:24 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - U.S. retail sales were unexpectedly flat in July as Americans cut back on discretionary spending, pointing to a moderation in consumption that could temper expectations of a sharp pickup in economic growth in the third quarter. Cooling consumer spending and tame inflation suggest the Federal Reserve will probably not raise interest rates anytime soon despite a robust labor market. "Fed members are afraid to come out from under their rocks until growth is
  
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• Quebec's Caisse sees weak global growth in years ahead

  12-08-2016 19:08
  
  TORONTO (Reuters) - Caisse de depot et Placement du Quebec, Canada's second-biggest public pension fund, warned of weak global growth in the years ahead after market volatility led to a sharp fall in...
  
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• Lackluster data pulls Wall Street from record levels

  12-08-2016 19:07 via news.yahoo.com
  
  U.S. stocks were lower on Friday afternoon, a day after closing at record highs, as a set of tepid economic data dampened investor sentiment about the growth of the economy. U.S. retail sales growth was unexpectedly flat in July as people cut back on buying clothes and other goods, while producer price index fell 0.4 percent in July, the biggest drop in nearly a year. Cooling consumer spending and tame inflation suggest the Federal Reserve will probably not raise interest rates anytime soon desp
  
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• Olympics-Beach volleyball- Brazilians catch the action, sort of, from beach

  12-08-2016 18:41 via news.yahoo.com
  
  The catch is, the crowd was not clapping from inside the imposing 12,000-person beach volleyball arena. "Here I don't pay anything!" laughed retired metallurgist Aluisio Marcelino da Silva, who lives in the Copacabana beach district, where sun-lovers from across the economic spectrum famously converge. While delighted that his city - which he referred to by its nickname "Marvellous City" - was hosting the Games, he lamented that Olympic tickets to see Brazilian pair Agatha Bednarczuk and Barbara
  
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• Tepid retail sales lower expectations for US economic growth

  12-08-2016 18:23 via news.yahoo.com
  
  WASHINGTON (AP) — A sluggish month of retail spending has tempered expectations for the U.S. economy's growth in the coming months.
  
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• SunEdison shareholders denied official role in bankruptcy

  12-08-2016 18:23
  
  NEW YORK, Aug 12 (Reuters) - A U.S. judge denied a request
  by shareholders of SunEdison Inc for an official
  committee to represent them in the bankruptcy of the U.S.
  renewable power plant developer,...
  
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• Atlanta Fed pares U.S. third-quarter GDP view to 3.5 percent

  12-08-2016 18:22
  
  NEW YORK (Reuters) - The U.S. economy is on track to grow at a 3.5 percent annualized rate in the third quarter following weaker-than-expected data on retail sales in July, the Atlanta Federal...
  
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• FTSE touches 14-month high, though miners fall

  12-08-2016 17:55 via news.yahoo.com
  
  By Kit Rees and Sudip Kar-Gupta LONDON (Reuters) - Britain's top share index steadied on Friday after reaching a 14-month high, though mining stocks fell following a weak set of data from China The blue-chip FTSE 100 index closed flat in percentage terms at 6,916.02 points, touching its highest level since June 2015 earlier in the session. The FTSE 100 is up around 11 percent so far in 2016. Record low interest rates set by the Bank of England have helped the UK stock market recover from a slump
  
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• UK's FTSE touches 14-month high, though miners fall

  12-08-2016 17:54
  
  * Though Restaurant Group soars after CEO departure(Recasts, adds details and updates prices at close)
  
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• Stocks wobble, dollar, yields dip after tepid data

  12-08-2016 17:54 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - Key U.S. and European stock indexes slipped modestly on Friday, a day after U.S. equities hit record peaks, amid soft U.S. economic data that also tempered expectations of a near-term interest rate hike and weighed on the dollar and Treasury yields. U.S. retail sales were unexpectedly flat in July as Americans cut back on purchases of clothing and other goods, while other data showed producer prices recorded their biggest drop in nearly a year in July. &ld
  
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• Wall Street flat as rise in oil offsets impact of weak data

  12-08-2016 17:35 via news.yahoo.com
  
  (Reuters) - Wall Street was little changed on Friday as a rise in oil prices offset the impact of weak economic data.
  
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• IMF warns on China's mid-term economic stability

  12-08-2016 16:38 via news.yahoo.com
  
  China must take "urgent" action to reform its economy or risk "permanently lower growth", the International Monetary Fund said in a report Friday, citing mounting corporate debt as a major concern. While near-term growth prospects remain good, Beijing's failure to move on long-promised reforms is raising the chances of a medium-term hard landing in the world's second-largest economy, it said. China is seeking to restructure its economy to make the spending power of its nearly 1.4 billion people
  
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• Global monetary taps still open wide, Fed minutes in focus

  12-08-2016 16:25 via news.yahoo.com
  
  The glue binding a still-aggressive global monetary policy response to a struggling world economy and almost daily record highs for world stock markets along with record low bond yields is set to remain intact in the coming week. The one thing that could unstick it, apart from divine intervention, would be a change in tune from the U.S. Federal Reserve, which is still toying with when to deliver a follow-up interest rate hike to last December's baby step-up from zero. Minutes to the Fed's July p
  
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• Global stocks retrench after gains

  12-08-2016 16:17 via news.yahoo.com
  
  European and Wall Street stocks struggled trying to hold on to recent gains Friday as soft data from the US, China and the eurozone made current levels hard to defend. London, Frankfurt and Paris were all in mildly negative territory in the European afternoon, but surprisingly upbeat news on German economic growth put a floor under profit-taking. Stocks in New York came off to a weaker start after US consumer spending data for July were flat, suggesting a key driver of the world's largest econom
  
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• UPDATE 1-Brazil's BNDES posts hefty quarterly loss on provision jump

  12-08-2016 16:10
  
  SAO PAULO, Aug 12 (Reuters) - State development bank BNDES,
  Brazil's main source of long-term credit for companies, posted a
  net loss in the second quarter, reflecting the burden of soaring
  loan-loss...
  
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• Wall Street opens lower on weak economic data

  12-08-2016 16:04 via news.yahoo.com
  
  (Reuters) - Wall Street opened slightly lower on Friday as tepid economic data weighed, a day after all three major indexes closed at record highs for the first time since 1999.
  
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• Wall St opens lower on weak economic data

  12-08-2016 16:04 via news.yahoo.com
  
  Wall Street opened slightly lower on Friday as tepid economic data weighed, a day after all three major indexes closed at record highs for the first time since 1999. An unexpectedly flat U.S. retail sales growth and a drop in the producer price index for July hurt investor sentiment. The weak data could also discourage the Federal Reserve from raising interest rates this year.
  
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• Swiss far-right submits petition for referendum on courts' sovereignty

  12-08-2016 15:50 via news.yahoo.com
  
  By Michael Shields ZURICH (Reuters) - The far-right Swiss People's Party (SVP) submitted a petition on Friday to cement Swiss sovereignty on legal matters over most international law, insisting citizens needed this to wrest back control from the political elite. The SVP said its "Swiss Law, Not Foreign Judges" drive, which would force a referendum if the nearly 117,000 signatures on its petition are certified, would counter what it described as efforts to thwart Switzerland's system of direct de
  
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• Wall Street opens lower on weak data

  12-08-2016 15:33 via news.yahoo.com
  
  (Reuters) - Wall Street opened lower on Friday as weaker-than-expected economic data weighed.
  
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• Wall St opens lower on weak data

  12-08-2016 15:32 via news.yahoo.com
  
  (Reuters) - Wall Street opened lower on Friday as weaker-than-expected economic data weighed. The Dow Jones industrial average was down 20.82 points, or 0.11 percent, at 18,592.7, the S&P 500 was down 2.69 points, or 0.12 percent, at 2,183.1 and the Nasdaq composite was down 8.94 points, or 0.17 percent, at 5,219.46. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D'Silva)
  
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• Weak retail sales, inflation data dim prospect of Fed rate hike

  12-08-2016 15:23 via news.yahoo.com
  
  U.S. retail sales were unexpectedly flat in July as Americans cut back on purchases of clothing and other goods, pointing to a moderation in consumer spending that could temper expectations of an acceleration in economic growth in the third quarter. Cooling consumer spending and tame inflation suggest the Federal Reserve will probably not raise interest rates anytime soon despite a robust labor market. July's unchanged retail sales reading followed an upwardly revised 0.8 percent increase in Jun
  
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• BRIEF-Aermont Capital says financing pre-condition satisfied for Pinewood deal

  12-08-2016 15:22
  
  * Bidco and Pinewood have reached agreement on terms of a
  recommended cash acquisition of Pinewood
  
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• Zimbabwe's social media revolt yet to take root in rural areas

  12-08-2016 15:12 via news.yahoo.com
  
  By Cris Chinaka CHIREDZI, Zimbabwe (Reuters) - Deep in Zimbabwe's drought-stricken rural district of Chiredzi, news of the biggest protests against President Robert Mugabe in a decade reached Peter Mufaro only after a week. The demonstrations in Zimbabwe's towns and cities are being organized through social media that few people have access to in remoter villages such as Malipati, where Mufaro works as a carpenter and part-time farmer. "When you catch up with the news, it feels like you are not
  
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• Mondelez to mix Cadbury chocolate and biscuits with Burton's deal

  12-08-2016 15:08
  
  LONDON (Reuters) - Mondelez Internationalis to buy the rights to sell Cadbury-branded biscuits from Britain's Burton's Biscuit Co in a bid to sell more and combine chocolate and biscuits in new...
  
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• Wall Street set to open flat after hitting record highs

  12-08-2016 15:04 via news.yahoo.com
  
  Strong department store earnings, coupled with a sharp rise in oil prices and robust labor market data, were major catalysts for Thursday's rally. People are realizing that inflation is low, interest rates are low and central banks are propping the markets and that's what is pushing stocks higher," said John Canally, chief economic strategist at LPL Financial. J.C. Penney shares rose 1.7 percent premarket after the department store reported a smaller-than-expected loss, continuing the trend of e
  
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• U.S. retail sales unexpectedly flat in July

  12-08-2016 14:48 via news.yahoo.com
  
  WASHINGTON (Reuters) - U.S. retail sales were unexpectedly flat in July as Americans cut back on purchases of clothing and other goods, pointing to a moderation in consumer spending that could temper expectations of an acceleration in economic growth in the third quarter.
  
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• UPDATE 2-Cost cuts ease pain of Maersk's gloomy shipping forecast

  12-08-2016 14:30
  
  * Company says profit to fall this year(Adds CEO comment, analyst)
  
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• Pakistan shares post all-time closing high; rupee weaker, o/n rates fall

  12-08-2016 14:30
  
  KARACHI, Aug 12 (Reuters) - Pakistan stocks posted an
  all-time closing high on Friday, led by gains in oil stocks due
  to a rise in crude prices overnight, dealers said.
  
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