Finance news

• Ford to buy San Francisco shuttle service in mobility push

  09-09-2016 23:40
  
  SAN FRANCISCO (Reuters) - Ford Motor Cosaid on Friday it would acquire San Francisco-based shuttle service Chariot with plans to expand the service globally, as the carmaker expands beyond auto...
  
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• UPDATE 1-SandRidge overcomes shareholder fight to exit bankruptcy

  09-09-2016 23:35
  
  CHICAGO, Sept 9 (Reuters) - SandRidge Energy Incwon court approval for a plan to exit bankruptcy on Friday,
  overcoming opposition from shareholders who had accused the oil
  and gas producer of...
  
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• US stocks slump as traders fear higher interest rates

  09-09-2016 23:19 via news.yahoo.com
  
  Investor jitters over the possibility the Federal Reserve is ready to raise interest rates this year roiled Wall Street Friday, handing the stock market its worst day in more than two months.
  
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• Exclusive: Centerbridge, FFL offer nearly $2 billion for Highmark's vision unit - sources

  09-09-2016 23:04
  
  (Reuters) - Buyout firms Centerbridge Partners LP and Friedman Fleischer & Lowe LLC (FFL) have teamed up to buy U.S. health insurer Highmark Health's vision unit for close to $2 billion, according to...
  
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• BRIEF-Halcón Resources completes restructuring and exits prepackaged bankruptcy

  09-09-2016 23:04
  
  * About $1.8 billion of company's debt has been eliminated
  under restructuring plan
  
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• UPDATE 2-Caesars mediator resigns in casino unit's bankruptcy

  09-09-2016 22:58
  
  CHICAGO, Sept 9 (Reuters) - The mediator trying to resolve
  the $18 billion bankruptcy of Caesars Entertainment Operating Co
  Inc (CEOC) abruptly stepped down on Friday, according to a court
  filing,...
  
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• Lynn Tilton sues SEC again, calls cases unconstitutional

  09-09-2016 22:53
  
  NEW YORK (Reuters) - Lynn Tilton, the New York financier accused by the U.S. Securities and Exchange Commission of defrauding her investors, on Friday sued the regulator to stop it from pursuing...
  
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• Bill Gross wants Pimco, lawyers punished for 'bad-faith' tactics

  09-09-2016 22:52
  
  (Reuters) - Bond fund manager Bill Gross on Friday said Pacific Investment Management Co and its lawyers should be punished for unfairly impeding him from pursuing his $200 million lawsuit against...
  
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• US stocks sink over 2% as Fed officials eye rate hike

  09-09-2016 22:25 via news.yahoo.com
  
  New York (AFP) - Wall Street stocks suffered their sharpest losses Friday since the Brexit vote after Federal Reserve officials signaled the US central bank could hike interest rates as soon as this month.
  
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• SandRidge wins court approval to exit bankruptcy - U.S. judge

  09-09-2016 21:44
  
  CHICAGO, Sept 9 (Reuters) - SandRidge Energy Incwon court approval for a plan to exit bankruptcy, overcoming
  opposition from shareholders who had accused the oil and gas
  producer of misrepresenting...
  
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• Private investors tout EU real estate as ‘biggest spread anywhere’

  09-09-2016 21:39
  
  SAN FRANCISCO (Reuters) - There is significant money to be made in Europe by investing and lending where local banks cannot, two prominent private fund managers told attendees of a U.S. hedge fund...
  
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• Activist funds posted gains in August; Marcato pushed ahead

  09-09-2016 21:10
  
  BOSTON (Reuters) - Activist investors that push for better returns by urging corporate actions such as sales and acquisitions and cost cutting posted their best returns in months in August, when bets...
  
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• Ailing Italian bank Monte dei Paschi to name new boss in coming days

  09-09-2016 20:28
  
  MILAN (Reuters) - Italian bank Monte dei Paschi plans to appoint a new chief executive in the next few days to lead a 5 billion-euro ($5.6 billion) capital raising which is needed to stave off the...
  
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• U.S. Senate committee chair: Mylan's response on EpiPen price hike 'incomplete'

  09-09-2016 20:18
  
  WASHINGTON, Sept 9 (Reuters) - The chairman of the U.S.
  Senate Judiciary Committee probing Mylan NV's EpiPen
  price hike on Friday said its response to his query was
  "incomplete," and called on the...
  
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• Divided Peronism helps Macri's reform efforts in Argentina

  09-09-2016 20:14 via news.yahoo.com
  
  By Nicolás Misculin BUENOS AIRES (Reuters) - Divisions inside Argentina's dominant political movement, Peronism, have weakened its clout in Congress and are helping center-right President Mauricio Macri push through pro-market reforms aimed at restoring economic growth. Followers of former leftist President Cristina Fernandez, allies of moderate leader Sergio Massa, and other senior members of the movement inspired by populist General Juan Peron in the 1940s are fighting for control of th
  
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• Stocks slide on rate hike talk, German data; euro off

  09-09-2016 19:46 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - Stocks across the globe fell the most since June on Friday, weighed by comments from Federal Reserve officials that lifted bets on an interest rate hike and after German trade data cast doubt on the strength of the euro zone's largest economy. The euro peaked for the day shortly after the German data and later dipped below $1.12, while the benchmark U.S. Treasury yield touched its highest in 11 weeks. Stocks on Wall Street were hit after Boston Federal Rese
  
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• Global stocks slide on rate hike talk, German data; euro off

  09-09-2016 19:46 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - Stocks across the globe fell the most since June on Friday, weighed by comments from Federal Reserve officials that lifted bets on an interest rate hike and after German trade data cast doubt on the strength of the euro zone's largest economy. The euro peaked for the day shortly after the German data and later dipped below $1.12 , while the benchmark U.S. Treasury yield touched its highest in 11 weeks. Stocks on Wall Street were hit after Boston Federal Res
  
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• The ugly unloved attractions of natural resource shares: James Saft

  09-09-2016 19:34
  
  (Reuters) - If investing in commodities involves taking a bet against human ingenuity, than buying natural resource equities is hedging that bet by going long productivity gains at the same time.
  
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• Justice Dept. group studying national security threats of internet-linked devices

  09-09-2016 19:25 via news.yahoo.com
  
  By Dustin Volz WASHINGTON (Reuters) - The U.S. Justice Department has formed a threat analysis team to study potential national security challenges posed by self-driving cars, medical devices and other Internet-connected tools, a senior official said. The new group's goal is to secure the so-called "internet of things" from exploitation by “terrorist threats” and by others who might try to hack devices to cause loss of life or achieve political or economic gain, according to Assistan
  
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• Wall Street falls on North Korea nuclear test, U.S. rate hike worry

  09-09-2016 19:15 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks dropped on Friday as investors were rattled by a nuclear test by North Korea and comments by Federal Reserve officials that hinted at a U.S. interest rate hike, putting the S&P 500 on pace for its worst day in over two months. North Korea conducted its fifth and biggest nuclear test on Friday and said it had mastered the ability to mount a warhead on a ballistic missile, drawing condemnation from the United States as well as China, Pyongy
  
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• UPDATE 2-Low food prices force Kroger to cut profit forecast

  09-09-2016 19:09
  
  * Shares reverse course, up nearly 1 pct(Adds comments from CEO, analysts; updates shares)
  
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• Hanjin says has cash to begin unloading four U.S.-bound ships

  09-09-2016 18:58
  
  Sept 9 (Reuters) - Hanjin Shipping Co Ltd has
  received authority to spend the money needed to dock at U.S.
  ports and begin unloading four vessels that have been stranded
  at sea by the company's...
  
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• How Higher Wages Could Sink the Economy

  09-09-2016 18:40 via news.yahoo.com
  
  Wage inflation has been tepid. Policymakers have focused, for better or worse, on driving down interest rates and boosting the price of financial assets, lifting corporate profits and the stock market to record highs in the process — but also widening the income and wealth inequality gaps. Corporate profits are on track for their sixth quarterly decline, in part, as the labor market continues to tighten.
  
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• Britain's FTSE sees biggest weekly decline since May

  09-09-2016 18:24
  
  * Mid-cap pub operators in focus after results(ADVISORY- Follow European and UK stock markets in real time on
  the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)
  
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• Mediator in Caesars' unit bankruptcy resigns - court filing

  09-09-2016 18:07
  
  CHICAGO, Sept 9 (Reuters) - The mediator trying to resolve
  the $18 billion bankruptcy of Caesars Entertainment Operating Co
  Inc, a unit of Caesars Entertainment Corp, has resigned,
  according to a...
  
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• UK fraud agency charges three in Tesco accounting probe

  09-09-2016 17:59 via news.yahoo.com
  
  When Tesco revealed the overstatement, which was later raised to 263 million pounds, it plunged the firm into the worst crisis in its near 100-year history and led to a 4 billion pound drop in the company's stock market value. Carl Rogberg, Christopher Bush and John Scouler have been charged with one count of fraud by abuse of position and one count of false accounting, the SFO said in a statement on Friday, giving no further details of the charges. Bush, 50, who was managing director of Tesco U
  
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• Deutsche Bank sees world economy, investment reversing for the next 35 years

  09-09-2016 17:56
  
  LONDON, Sept 9 (Reuters) - Global economic growth will be so
  slow over the next 35 years that policymakers will struggle to
  meet the significant economic, social and political challenges
  that...
  
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• Fed's Kaplan says U.S. rate hike case has strengthened

  09-09-2016 17:55 via news.yahoo.com
  
  AUSTIN, Texas (Reuters) - The case for raising U.S. interest rates has strengthened in recent months, a top Federal Reserve official said on Friday, but long-term headwinds to economic growth mean the central bank can afford to raise rates very slowly.
  
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• UPDATE 1-Azeri cenbank sharply hikes refinancing rate to 15 pct

  09-09-2016 17:47
  
  BAKU, Sept 9 (Reuters) - Azerbaijan's central bank said on
  Friday it raised its refinancing rate to 15 percent from 9.5
  percent, in an unexpected move at a time when the country's
  manat currency is...
  
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• BRIEF-S&P says Kazakhstan ratings affirmed at 'BBB-/A-3'

  09-09-2016 17:42
  
  * Republic Of Kazakhstan Ratings Affirmed At 'BBB-/A-3';
  Outlook Remains Negative
  
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• BRIEF-South Jersey Industries enters unsecured $50 mln 364-day revolving credit agreement - SEC Filing

  09-09-2016 17:41
  
  * On September 7,entered unsecured $50 million 364-day
  revolving credit agreement with Morgan Stanley Senior Funding
  IncSource text (http://bit.ly/2bZhk7i)
  Further company coverage:
  
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• BRIEF-S&P says Rwanda ratings lowered to 'B' on balance of payments risks; outlook stable

  09-09-2016 17:41
  
  * Revises Rwanda (Republic Of) sovereign credit outlook up to stable from
  negative; current rating is B
  
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• BRIEF-S&P affirms ratings Bosnia And Herzegovina at 'B/B'

  09-09-2016 17:38
  
  * Bosnia and Herzegovina 'B/B' ratings affirmed; outlook
  stable
  
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• Stocks slide on German data, North Korea jitters; euro off

  09-09-2016 17:37 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - Stocks across the globe fell the most since June on Friday, weighed by German trade figures that cast doubt on the strength of the euro zone's largest economy and by investor concern after North Korea conducted its fifth and most powerful nuclear test. The euro peaked for the day shortly after the German data and later dipped below $1.12, while the benchmark U.S. Treasury yield touched its highest in 11 weeks. Wall Street stocks were also hit after Boston F
  
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• UPDATE 2-Obama to meet with congressional leaders on Monday -W.House

  09-09-2016 17:35
  
  WASHINGTON, Sept 9 (Reuters) - U.S. President Barack Obama
  has invited congressional leaders to the White House on Monday
  to discuss legislative priorities for this month, a White House
  official said.
  
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• Wall Street tumbles after North Korea test, rate hike worry

  09-09-2016 17:34 via news.yahoo.com
  
  U.S. stocks dropped on Friday as investors were unnerved by a nuclear test by North Korea and comments by a U.S. Federal Reserve official that pointed towards an interest rate hike. North Korea conducted its fifth and biggest nuclear test on Friday and said it had mastered the ability to mount a warhead on a ballistic missile, drawing condemnation from the United States as well as China, Pyongyang's main ally. There was further pressure on the equity market after Boston Fed President Eric Roseng
  
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• Global stocks slide on German data, N.Korea jitters; euro off

  09-09-2016 17:34 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - Stocks across the globe fell the most since June on Friday, weighed by German trade figures that cast doubt on the strength of the euro zone's largest economy and by investor concern after North Korea conducted its fifth and most powerful nuclear test. The euro peaked for the day shortly after the German data and later dipped below $1.12 , while the benchmark U.S. Treasury yield touched its highest in 11 weeks. Wall Street stocks were also hit after Boston
  
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• UPDATE 1-German Bund yield turns positive for first time since Brexit result

  09-09-2016 17:28
  
  * Bond markets express disappointment in ECB action on
  Thursday
  
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• GLOBAL MARKETS-Stocks slide on German data, N.Korea jitters; euro off

  09-09-2016 17:28
  
  * Increasingly risky to delay U.S. rate hike -Fed's
  Rosengren(Updates with U.S. markets)
  
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• Will U.S. rate increase expose emerging markets' 'sucker's rally'?

  09-09-2016 17:21
  
  LONDON, Sept 9 (Reuters) - Investors rekindled their love
  affair with emerging markets this year, pouring billions of
  dollars into their stocks and bonds, but the prospect of the
  Federal Reserve...
  
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• Nokia-Alacatel's Nigerian offices closed by watchdog for lack of licence

  09-09-2016 17:11 via news.yahoo.com
  
  Nigeria's telecoms regulator has shut the offices of Nokia-Alcatel for operating in Africa's largest economy without the necessary permit, the watchdog said on Friday. The Nigerian Communications Commission's (NCC) spokesman Tony Ojobo said that the mobile telecoms equipment manufacturer had failed to obtain the 2 million naira ($6,349) licence required for the sale and installation of network equipment. The head of Nokia's Nigerian operations said the company was in talks with the NCC to secure
  
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• Wall Street tumbles after N.Korea test, rate hike worry

  09-09-2016 17:06 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks dropped on Friday as investors were unnerved by a nuclear test by North Korea and comments by a U.S. Federal Reserve official that pointed towards an interest rate hike. North Korea conducted its fifth and biggest nuclear test on Friday and said it had mastered the ability to mount a warhead on a ballistic missile, drawing condemnation from the United States as well as China, Pyongyang's main ally. There was further pressure on the equity mar
  
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• Central bankers weigh on world stocks

  09-09-2016 17:05 via news.yahoo.com
  
  Stocks slipped Friday as a senior US central banker flagged an early rate rise, a day after the European Central Bank failed to deliver new stimulus, disappointing markets. In Asia, markets were also marred by concerns over North Korea's nuclear test. Wall Street fell after Eric Rosengren, president of the Boston Fed and a voting member of the Fed's policy committee this year, suggested tighter credit may well be needed to avoid an overheating of the economy.
  
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• Venezuelans revel in pots-and-pans protests after Maduro humiliation

  09-09-2016 17:02 via news.yahoo.com
  
  By Alexandra Ulmer MARACAIBO, Venezuela (Reuters) - For over a decade, Venezuelan opposition supporters would clang pots and pans on balconies of middle-class apartments to protest late leader Hugo Chavez's self-styled "21st century socialism." While sometimes deafening, the protests never seemed to get under the skin of the charismatic leftist, whose supporters often countered with fireworks from shanty towns, and many in the opposition ended up deeming them futile. Amazed and amused by the sig
  
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• Total sees bargain buy in Chesapeake's Barnett Shale assets

  09-09-2016 17:02
  
  PARIS (Reuters) - French oil and gas company Totalwill increase its exposure to U.S. shale gas by buying 75 percent of Barnett Shale assets from Chesapeake , taking advantage of a far lower price...
  
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• Factbox- No easy options as UK seeks new migration rules for Brexit

  09-09-2016 16:42 via news.yahoo.com
  
  By Laura Gardner Cuesta LONDON (Reuters) - One of the toughest choices facing Britain as it prepares to leave the European Union is what system it will use to govern immigration from the bloc. Prime Minister Theresa May has said she will heed the message from voters about the need to control the number of workers coming from the EU, but she also wants to secure the best deal possible for Britain's economy. Below is a summary of options for Britain's immigration system once it leaves the EU.
  
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• Seagate Tech invites ValueAct in as major shareholder

  09-09-2016 16:37
  
  (Reuters) - Seagate Technology Plc has invited ValueAct Capital in as an investor, selling a roughly 4 percent stake to the activist hedge fund, which will also get a front-row view of its board...
  
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• No easy options as UK seeks new migration rules for Brexit

  09-09-2016 16:36 via news.yahoo.com
  
  By Laura Gardner Cuesta LONDON (Reuters) - One of the toughest choices facing Britain as it prepares to leave the European Union is what system it will use to govern immigration from the bloc. Prime Minister Theresa May has said she will heed the message from voters about the need to control the number of workers coming from the EU, but she also wants to secure the best deal possible for Britain's economy. Below is a summary of options for Britain's immigration system once it leaves the EU.
  
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• Wall Street falls after North Korea test, Fed comments

  09-09-2016 15:50 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks opened lower on Friday amid investor caution following a nuclear test by North Korea and comments by a U.S. Federal Reserve official that supported an interest rate hike. North Korea conducted its fifth and biggest nuclear test on Friday and said it had mastered the ability to mount a warhead on a ballistic missile, drawing condemnation from the United States as well as China, Pyongyang's main ally. "The timing of North Korea flexing their nu
  
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• Mark Cuban’s Winning Strategy for Defeating Donald Trump

  09-09-2016 15:33 via news.yahoo.com
  
  Mark Cuban, the billionaire entrepreneur and owner of the Dallas Mavericks, recently predicted a major stock market crash if Donald Trump wins the election. Today, in an interview on MSNBC’s Morning Joe, he had more to say about how Hillary Clinton could defeat Trump at the debates. It’s more about how they feel about Secretary Clinton.
  
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