Finance news

• VW, U.S. Justice Dept discuss settling criminal probe - sources

  15-08-2016 23:09 via news.yahoo.com
  
  By David Shepardson and Joel Schectman WASHINGTON (Reuters) - Volkswagen AG and the U.S. Justice Department have held preliminary settlement talks about resolving a criminal probe into the automaker's diesel emissions scandal, two sources briefed on the matter said. Reuters reported in June that a criminal settlement could include a consent decree, an independent monitor overseeing the German automaker's conduct and significant yet-to-be determined fines for emissions violations. The Wall Street
  
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• Tesla gained investor backing during second quarter

  15-08-2016 22:59
  
  BOSTON (Reuters) - Tesla Motors Incgained backing from Fidelity Investments and from hedge funds during the second quarter, recent securities filings show, a period when the electric car company...
  
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• AIG to sell unit to Arch Capital for $3.4 billion

  15-08-2016 22:56 via news.yahoo.com
  
  American International Group Inc said on Monday it would sell its mortgage-guaranty unit to Arch Capital Group Ltd for about $3.4 billion (2.64 billion pounds). AIG, the largest commercial insurer in the United States and Canada, said it would get $2.2 billion in cash, $250 million in Arch Capital's perpetual preferred stock and $975 million in non-voting common-equivalent preferred stock from the sale of United Guaranty Corp. The Wall Street Journal first reported AIG's deal with Bermuda-based
  
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• Dow, S&P 500, Nasdaq set fresh records as oil prices rise

  15-08-2016 22:55 via news.yahoo.com
  
  The Dow Jones Industrial Average rose 0.3 percent to 18,636,05, about 23 points above the record set Thursday. The broad-based S&P 500 gained 0.3 percent to 2,190.15, while the tech-rich Nasdaq Composite advanced 0.6 percent to 5,262.02.
  
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• Berkshire takes bigger bite of Apple, pares Wal-Mart

  15-08-2016 22:47
  
  (Reuters) - Warren Buffett's Berkshire Hathaway Incon Monday said it has increased its stake in Apple Incby 55 percent, boosting its bet on the iPhone and iPod maker even as prominent investors...
  
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• Wall Street ends at record highs; commodity shares climb

  15-08-2016 22:46 via news.yahoo.com
  
  Oil rose to five-week highs, driving the S&P 500 energy index up 0.6 percent, while other commodity-related shares also rose as the U.S. dollar eased. The S&P 500 materials index gained 1 percent.
  
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• Icahn makes new bet on Allergan, cuts Hertz in second quarter: filing

  15-08-2016 22:46
  
  BOSTON (Reuters) - Carl Icahn, the octogenarian investor whose stock investments still create a buzz on Wall Street nearly 50 years after he first got into the business, made a new bet on Allergan...
  
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• Soros Fund Management slashes gold shares in second quarter: 13F

  15-08-2016 22:41
  
  NEW YORK (Reuters) - Soros Fund Management LLC sharply cut its shares in SPDR Gold Trust and Barrick Gold Corp in the second quarter of 2016, 13F-HR filings with the U.S. Securities and Exchange...
  
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• Hedge funds made big changes at drug companies in second quarter: filings

  15-08-2016 22:31
  
  BOSTON (Reuters) - For many prominent hedge fund managers who bet Pfizer Inc and Allergan Plc would merge to become the world's biggest pharmaceuticals company, the second quarter started with a thud...
  
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• U.S. stocks hit record highs on easing central bank outlook, oil rise

  15-08-2016 22:25 via news.yahoo.com
  
  By Dion Rabouin NEW YORK (Reuters) - Wall Street stocks closed at record highs on Monday, boosted by expectations for continued monetary policy easing around the globe and a jump in oil prices to nearly five-week highs on speculation top producers may be open to cutting output. The U.S. S&P 500, Dow and Nasdaq stock indexes all closed at all-time highs. A strong monthly jobs report on Aug. 5 boosted optimism about the U.S. economy, driving all three major indexes to close at record levels la
  
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• Billionaire investors turn bearish as U.S. stocks hit record highs

  15-08-2016 21:32
  
  NEW YORK (Reuters) - A number of big-name hedge fund investors soured on U.S. stocks in the second quarter and moved to gold and other bearish bets, failing to anticipate the stock market rally in...
  
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• UPDATE 2-Fire at Phillips 66 Louisiana refinery out, no injuries -official

  15-08-2016 21:22
  
  HOUSTON, Aug 15 (Reuters) - A fire that started in a
  processing unit on Monday at Phillips 66's 260,000
  barrel per day Lake Charles refinery in Louisiana, has been put
  out with no injuries reported,...
  
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• BRIEF-AIG close to selling mortgage-insurance unit to Arch Capital for about $3.4 bln - source

  15-08-2016 21:19
  
  * American International Group Inc close to selling
  mortgage-insurance unit to Arch Capital for about $3.4 billion -
  source
  Further company coverage:
  
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• UPDATE 1-AIG nearing deal to sell unit to Arch Capital for $3.4 bln - source

  15-08-2016 21:16
  
  Aug 15 (Reuters) - American International Group Incis nearing a deal to sell its mortgage-guaranty unit to Arch
  Capital Group Ltd for about $3.4 billion, according to
  a person familiar with the...
  
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• BRIEF-Tiger Global Management dissolves stake in Cal Maine Foods, Gamestop

  15-08-2016 21:15
  
  * Tiger Global Managementdissolves Share Stake In Cal
  Maine Foods Inc -Sec filing
  
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• BRIEF-Tiger Global Management LLC dissolves share stake in Netflix - SEC filing

  15-08-2016 21:14
  
  * Change in holdings are as of June 30, 2016 and compared
  with the previous quarter ended as of March 31, 2016Source text for quarter ended June 30, 2016: (http://bit.ly/2bimrhL)
  Source text for...
  
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• BRIEF-Tiger Global Management ups stake in Amazon, cuts in Square

  15-08-2016 21:13
  
  * Change in holdings are as of june 30, 2016 and compared
  with the previous quarter ended as of march 31, 2016
  
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• BRIEF-Tiger Global Management ups share stake in Priceline Group

  15-08-2016 21:13
  
  * Ups share stake in Priceline Group Inc by 36.1 percent to
  750,000 shares - SEC Filing
  
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• BRIEF-Tiger Global Management cuts share stake in Apple

  15-08-2016 21:13
  
  * Tiger Global Management - Change in holdings are as of
  June 30, 2016 and compared with the previous quarter ended as of
  March 31, 2016
  
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• FOREX-Dollar slips on declining Fed hike expectations

  15-08-2016 21:12
  
  * Japanese GDP data is weaker than expected, yen rises(Updates prices, adds quote)
  
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• US STOCKS-U.S. stocks hit record highs as energy, materials climb

  15-08-2016 21:10
  
  * Indexes up: Dow 0.5 pct, S&P 0.4 pct, Nasdaq 0.7 pct(Updates to late afternoon)
  
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• U.S. stocks hit record highs on easing central bank outlook, oil upturn

  15-08-2016 20:41 via news.yahoo.com
  
  By Dion Rabouin NEW YORK (Reuters) - Wall Street stocks rose to record highs on Monday, boosted by expectations for continued monetary policy easing around the globe and a jump in oil prices on speculation the world's top producers may be open to cutting output. The U.S. S&P 500, Dow and Nasdaq stock indexes all hit all-time intraday highs. A strong monthly jobs report on Aug. 5 boosted optimism about the U.S. economy, driving all three major indexes to close at record levels last Thursday f
  
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• Large SolarCity owner cuts stake in second quarter

  15-08-2016 20:17
  
  BOSTON (Reuters) - A large SolarCity Corphedge fund investor cut most of its stake in the solar panel installer during the second quarter, quarterly filings show, the period when the company...
  
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• Jana exits gold in second quarter as price rises to two-year high

  15-08-2016 19:46
  
  NEW YORK (Reuters) - Jana Partners dissolved its share stake in the world's biggest gold exchange-traded fund (ETF) in the second quarter of 2016 as bullion prices rose to two-year highs, U.S....
  
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• Fed's Williams urges new policies to combat low interest rates

  15-08-2016 19:28 via news.yahoo.com
  
  Central bankers and governments must come up with new policies to buffer their economies against persistently low interest rates that threaten to make future recessions deeper and more difficult to avoid, a top Federal Reserve official said on Monday. Setting higher inflation targets, tying monetary policy directly to economic output, instituting government spending programs that automatically kick in during economic downturns, and boosting investment in education and research are all policies t
  
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• AIG nearing deal to sell unit to Arch Capital for $3.4 billion: WSJ

  15-08-2016 19:25 via news.yahoo.com
  
  (Reuters) - American International Group Inc is nearing a deal to sell its mortgage-guaranty unit to Arch Capital Group Ltd for about $3.4 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter. The companies could strike a deal as soon as early this week, the Journal reported, although it added that the talks could still fall apart. AIG said in January it would spin off its mortgage insurance unit, cut jobs and sell its broker-dealer network as part of a swe
  
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• BRIEF-Hydro One to buy Orillia Power distribution from City of Orillia

  15-08-2016 18:51
  
  * Hydro One to acquire Orillia Power distribution from City
  of Orillia
  
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• MONEY MARKETS-U.S. dollar funding pressure eases a tad

  15-08-2016 18:49
  
  NEW YORK, Aug 15 (Reuters) - The scramble among banks for
  U.S. dollars cooled a bit on Monday as a closely watched gauge
  on what they charge each other to borrow greenbacks for three
  months posted...
  
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• UPDATE 1-Hedge fund Kerrisdale's Adrangi arrested for DUI -police

  15-08-2016 18:42
  
  BOSTON, Aug 15 (Reuters) - Hedge fund manager Sahm Adrangi,
  known for his big, winning bets against Chinese companies, was
  arrested on suspicion of impaired driving after crashing his car
  in the...
  
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• Wall Street hits new record highs

  15-08-2016 18:30 via news.yahoo.com
  
  London (AFP) - US stocks climbed back into record territory Monday as rising oil prices boosted petroleum-linked equities while European markets were little changed.
  
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• BRIEF-Blackrock's Richard Turnill says unemployment rate in U.S. could fall without triggering further inflation

  15-08-2016 18:27
  
  * "We expect the Fed to raise rates just once this year 
  likely in December"
  
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• BUZZ-Nasdaq 100 finally enters record high club

  15-08-2016 18:21
  
  ** Nasdaq 100 clears its Mar 2000 tech-bubble peak,
  but now faces hurdles
  
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• European stocks touch 7-week highs, supported by pharma shares

  15-08-2016 18:09
  
  LONDON, Aug 15 (Reuters) - European stocks climbed to their
  highest level in seven weeks on Monday, supported by firmer
  healthcare stocks after Belgian pharmaceuticals group UCB
  won a favourable...
  
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• BRIEF-BofA credit card delinquency and net-charge off rates for July

  15-08-2016 18:04
  
  * Bank of America Corp - Credit card delinquency
  rate 1.48 percent at July end versus 1.49 percent at June end -
  SEC filing
  
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• BRIEF-G. Willi-Food Q2 earnings per share ILS 0.59

  15-08-2016 18:03
  
  * G. Willi-Food reports Q2 2016 operating income up 144.1%
  from Q2 2015
  
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• BRIEF-Time Inc - "Won its labor dispute with Newspaper Guild of New York CWA, Local 31003"

  15-08-2016 17:58
  
  * "Won its labor dispute with Newspaper Guild Of New York
  CWA, Local 31003"
  
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• Stocks hit record highs on oil rise, easing central bank outlook

  15-08-2016 17:57 via news.yahoo.com
  
  By Dion Rabouin NEW YORK (Reuters) - Wall Street stocks rose to record highs on Monday, boosted by expectations for continued monetary policy easing around the globe and a jolt in oil prices, which jumped on speculation the world's top producers may be open to a production cut. The dollar index , which tracks the greenback against six major world rivals, fell 0.2 percent to 95.521.
  
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• GLOBAL MARKETS-U.S. stocks hit record highs on oil rise, easing central bank outlook

  15-08-2016 17:55
  
  * Weak Chinese, Japanese data suggests global monetary
  easing to continue(New throughout, updates with U.S. trading; changes dateline,
  previous LONDON)
  
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• Zimbabwe plans to use drones to fight elephant poaching

  15-08-2016 17:37 via news.yahoo.com
  
  Zimbabwe plans to deploy aerial drones in its biggest wildlife sanctuary in the west to combat poaching of elephants, a parks official said on Monday, as the country aims to protect one of its top tourist attractions. Tourism contributes 11 percent to Zimbabwe's $14 billion economy, according to Ministry of Tourism data, with the country's wildlife parks popular with overseas visitors. Poachers have in the last two years killed dozens of elephants in Hwange National Park by lacing watering holes
  
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• Stocks at record highs as oil jumps

  15-08-2016 17:31 via news.yahoo.com
  
  Strong economic data, upbeat corporate earnings and low interest rates have stoked appetite for U.S. equities, driving all three major indexes to record highs. "Our sense is that we're still in this Goldilocks period where it's a sweet spot for equities and that will not change probably until the next rate hike," said Mike Bailey, director of research at FBB Capital Partners. Investors are awaiting the minutes of the Federal Reserve's July policy meeting for more clues on when it would raise int
  
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• Zambian president Lungu re-elected in disputed vote

  15-08-2016 17:30 via news.yahoo.com
  
  By Chris Mfula and Stella Mapenzauswa LUSAKA (Reuters) - Zambian President Edgar Lungu narrowly won re-election on Monday, in a vote his main rival Hakainde Hichilema rejected on claims of alleged rigging by the electoral commission. Lungu faced a tough challenge from Hichilema to rule over Africa's second-largest copper producer, which has suffered from an economic slump due to depressed commodity prices. Lungu, who narrowly beat Hichilema in a vote last year to replace late president Michael S
  
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• Hedge fund Kerrisdale's Adrangi arrested for DUI: police

  15-08-2016 16:17 via news.yahoo.com
  
  Hedge fund manager Sahm Adrangi, who has a large following on Wall Street after making a number of public bets against telecom companies, was arrested for impaired driving after crashing his car in the Hamptons during the weekend, police said on Monday. Adrangi, 35, was charged with driving under the influence, East Hampton police said. Police found cocaine in Adrangi's car.
  
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• Chad president appoints new ministers to tackle security, economic woes

  15-08-2016 16:08 via news.yahoo.com
  
  By Madjiasra Nako N'DJAMENA (Reuters) - Chad's president has appointed new ministers of defense, finance and oil, in a bid to address persistent insecurity and improve its faltering economy. Bichara Issa Djadallah was named defense minister, according to statement on the presidency's website. Mbogo Ngabo Seli, a former official with the Bank of Central African States, was named finance minister, and Bechir Madet, a lawyer with close ties to the president, became head of the oil ministry.
  
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• Stocks hit record highs as oil rises

  15-08-2016 15:59 via news.yahoo.com
  
  (Reuters) - The three major U.S. stock indexes hit all-time highs on Monday, building on the record-setting rally of the past few weeks, as oil prices rose.
  
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• S&P, Nasdaq hit record high as oil prices rise

  15-08-2016 15:36 via news.yahoo.com
  
  (Reuters) - The S&P 500 index and the Nasdaq hit record highs on Monday, adding to their recent record-setting rally, as oil prices rose to their highest in a month. The Dow Jones industrial average was up 57.42 points, or 0.31 percent, at 18,633.89, the S&P 500 was up 4.52 points, or 0.21 percent, at 2,188.57 and the Nasdaq composite was up 9.56 points, or 0.18 percent, at 5,242.46.
  
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• Are you saving too much for your kids' college?

  15-08-2016 15:34
  
  NEW YORK (Reuters) - Parents these days are expected to pull off a financial Mission: Impossible. Cover the monthly bills, pay down debts, help elderly parents, save for retirement and for kids'...
  
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• China shares hit 7-mth high; world yields keep falling

  15-08-2016 15:04 via news.yahoo.com
  
  By Marc Jones LONDON (Reuters) - World shares set up camp at one-year peaks on Monday as a rally in Chinese stocks helped offset news that Japan's economic growth had ground to a halt in the last quarter, while oil prices extended their latest rally. Wall Street looked set to add fractionally to last week's string of all-time highs [.N] while London, Frankfurt and Paris were up 0.2-0.4 percent as healthcare and energy stocks kept them buoyant in Europe. "Luckily we went quite long of risk after
  
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• Wall Street set to open slightly higher as oil rises

  15-08-2016 15:01 via news.yahoo.com
  
  U.S. stocks were set to open slightly higher on Monday as oil prices rose and investors assessed the recent record-setting rally in the past weeks. Oil prices fluctuated in choppy trading, but remained around the $47 mark as speculation intensified that oil producers may try to work out ways to support prices in an oversupplied market. Wall Street closed little changed on Friday as weak retail-sales numbers dampened the prospects of economic expansion, even as the Nasdaq inched up to a fresh rec
  
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• Global stocks edge higher as markets await US economic data

  15-08-2016 13:19 via news.yahoo.com
  
  TOKYO (AP) — Global stocks mostly rose Monday, despite subdued growth figures for Japan, as investors looked ahead to U.S. economic data this week as well as the minutes to the Federal Reserve's last meeting.
  
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• European stocks rise on Japanese stimulus hope

  15-08-2016 13:06 via news.yahoo.com
  
  Europe's stock markets rose Monday on growing hopes that Japan would deliver more stimulus measures in response to flat economic growth, dealers said.
  
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