Finance news

• Wells Fargo fined $24 million over servicemember loans

  29-09-2016 23:33
  
  (Reuters) - Wells Fargo & Co was fined about $24 million on Thursday by federal regulators for alleged violations of the Servicemembers Civil Relief Act, piling more pressure on the bank already...
  
  Read more

• Child fitness gap linked to income inequality

  29-09-2016 23:30 via news.yahoo.com
  
  By Madeline Kennedy (Reuters Health) - In a comparison of fitness levels among children in 50 countries, the nations with the biggest internal income disparities tended to have the least fit youth. African and northern European nations, as well as Japan, had the highest scores on cardio-respiratory fitness among kids aged 9 to 17, while Mexico was last among the 50 and the United States fourth from the bottom. When looking for social, economic and health factors that went along with high or low
  
  Read more

• DoubleLine's Gundlach: avoid Deutsche Bank securities for now

  29-09-2016 23:19
  
  NEW YORK (Reuters) - Jeffrey Gundlach, chief executive of DoubleLine Capital, said on Thursday that investors should tread carefully when trading Deutsche Bank AGshares because a government bailout...
  
  Read more

• Candaian dollar weakens from near one-week high, buoyed by OPEC deal

  29-09-2016 23:18 via news.yahoo.com
  
  By Alastair Sharp TORONTO (Reuters) - The Canadian dollar fell back from a nearly one-week high against its U.S. counterpart on Thursday as the buzz from a deal between major oil producers to limit output wore off and investors fretted about the health of Deutsche Bank. The slip for the loonie followed a 0.7 percent advance on Wednesday, its biggest in nearly four weeks, after the Organization of the Petroleum Exporting Countries agreed to limit crude output at its policy meeting in November. "I
  
  Read more

• Advertisement

• Yellen says Fed purchases of stocks, corporate bonds could help in a downturn

  29-09-2016 23:06 via news.yahoo.com
  
  The Federal Reserve might be able to help the U.S. economy in a future downturn if it could buy stocks and corporate bonds, Fed Chair Janet Yellen said on Thursday. Speaking via video conference with bankers in Kansas City, Yellen said the issue was not a pressing one right now and pointed out the U.S. central bank is currently barred by law from buying corporate assets.
  
  Read more

• German Economy Minister to raise Iran's role in Syria war during visit: Spiegel

  29-09-2016 22:43 via news.yahoo.com
  
  BERLIN (Reuters) - German Economy Minister Sigmar Gabriel plans to raise concerns about Iran's role in the war in Syria and its human rights record during his upcoming visit to Tehran, weekly news magazine Der Spiegel reported in its Friday editions. The magazine quoted Gabriel as saying Iran could only have normal, friendly relations with Germany when it accepted the right of Israel to exist. Gabriel will travel to Iran for two days from Sunday. (Reporting by Andrea Shalal)
  
  Read more

• Video game makers extend months-long rally with new titles on tap

  29-09-2016 22:38 via news.yahoo.com
  
  By Noel Randewich SAN FRANCISCO (Reuters) - Shares of video game maker Activision Blizzard and rival Electronic Arts extended months-long Wall Street rallies in September as investors eyed new versions of high-profile franchises such as "FIFA" and "Call of Duty," analysts said. Since the end of February, Activision has surged 39 percent, while EA has risen 12 percent since the start of July and both companies have attracted new institutional investors. In the current quarter, 189 mutual funds an
  
  Read more

• Wall Street falls sharply on worries about banks

  29-09-2016 22:36 via news.yahoo.com
  
  By Noel Randewich (Reuters) - Wall Street dropped on Thursday, weighed down by Apple as well as selling in Wells Fargo, Citigroup and other major banks as investors worried about the health of Deutsche Bank. The S&P 500 financial index declined 1.49 percent after Bloomberg reported that some hedge funds have withdrawn excess cash and positions held at the German lender. Growing concerns over the stability of Germany's biggest bank have pushed its shares to record lows and its U.S.-listed sto
  
  Read more

• Advertisement

• US STOCKS-Wall St falls sharply on worries about banks

  29-09-2016 22:26 via news.yahoo.com
  
  Wall Street dropped on Thursday, weighed down by Apple as well as selling in Wells Fargo, Citigroup and other major banks as investors worried about the health of Deutsche Bank. The S&P 500 financial index ...
  
  Read more

• BlackRock to offer infrastructure funds via independent advisers

  29-09-2016 22:22
  
  NEW YORK (Reuters) - BlackRock Inc , the world's largest asset manager, will offer infrastructure funds for the first time through independent financial advisers, it said on Thursday.
  
  Read more

• If elected, Clinton under pressure to appoint tough Wall Street sheriffs

  29-09-2016 21:41 via news.yahoo.com
  
  By Amanda Becker WASHINGTON (Reuters) - Democratic Party progressives intent on reining in Wall Street are pushing Hillary Clinton to choose people to head the Treasury, SEC and other agencies who will crack down on big banks if she wins the White House on Nov. 8. “Do they have a proven track record of challenging corporate power?” asked Adam Green of the Progressive Change Campaign Committee, a grassroots group aligned with U.S. Senator Elizabeth Warren, the party's liberal firebran
  
  Read more

• Fed's Kashkari sees no urgency to raise interest rates

  29-09-2016 21:41 via news.yahoo.com
  
  "There does not appear to be any urgency to raise rates when inflation is coming up low," Kashkari said at a town hall meeting in Rapid City, South Dakota. Waiting too long to raise rates, he said, is less risky than raising rates too soon, because the Fed has the tools to tamp down inflation should it rise too high. Last week the Fed decided to leave rates unchanged and give the economy more time to create jobs and for inflation to rise.
  
  Read more

• Wall Street dragged lower by Apple and banks

  29-09-2016 21:07 via news.yahoo.com
  
  Wall Street dropped on Thursday, weighed down by Apple as well as selling in Wells Fargo, Citigroup and other major banks as investors worried about the health of Deutsche Bank. The S&P 500 financial index dropped 1.11 percent after Bloomberg reported that some hedge funds have withdrawn excess cash and positions held at the German lender. Wells Fargo & Co lost 1.67 percent after U.S. lawmakers rebuked CEO John Stumpf over his handling of sales abuses.
  
  Read more

• US STOCKS-Wall St dragged lower by Apple and banks

  29-09-2016 20:52 via news.yahoo.com
  
  Wall Street dropped on Thursday, weighed down by Apple as well as selling in Wells Fargo, Citigroup and other major banks as investors worried about the health of Deutsche Bank. The S&P 500 financial index ...
  
  Read more

• Hollywood endings start with humble first jobs

  29-09-2016 20:48
  
  NEW YORK (Reuters) - Despite their current world of glamor, not everyone with a Hollywood ending grew up in glitz.
  
  Read more

• African economic growth dips to two-decade low: World Bank

  29-09-2016 20:12 via news.yahoo.com
  
  By Joe Bavier ABIDJAN (Reuters) - Economic growth in sub-Saharan Africa is likely to slip to 1.6 percent this year, its lowest level in two decades, due to continuing woes in the continent's largest economies South Africa and Nigeria, a World Bank report said on Thursday. Africa has been one of the world's fastest growing region's over the past decade, but a commodities slump has hit its oil and mineral exporters hard, bringing growth down to 3 percent in 2015. "Our analysis shows that the more
  
  Read more

• Qualcomm in talks to buy NXP Semiconductors: WSJ

  29-09-2016 20:08 via news.yahoo.com
  
  (Reuters) - Chipmaker Qualcomm Inc is in talks to buy NXP Semiconductors NV in a deal that could be valued at more than $30 billion, the Wall Street Journal reported. Netherlands-based NXP and San Diego-based Qualcomm said separately that they did not comment on rumors or speculation. NXP shares rose as much as 19.3 percent to $98.09 in afternoon trading on Thursday, while Qualcomm's rose as much as 8.5 percent to $68.83.
  
  Read more

• South Africa's rand weakens on growth concerns, stocks rise

  29-09-2016 19:59 via news.yahoo.com
  
  South Africa's rand weakened on Thursday as data showed credit demand growth slowed more than expected in August, underscoring the slowdown in Africa's most industrialised economy ahead of credit rating reviews by year-end. Growth in credit demand by South Africa's private sector slowed to 6.15 percent year-on-year in August from 6.78 percent in July, the central bank said. "This reflects continued sluggish demand in the South Africa economy, despite a rebound in GDP growth in (second quarter) 2
  
  Read more

• Kenya secures deal to keep duty-free access to EU market

  29-09-2016 19:56 via news.yahoo.com
  
  By Duncan Miriri NAIROBI (Reuters) - Kenya will retain duty-free access to the European Union for its products, its trade minister said on Thursday, reassuring exporters who feared problems in clinching a deal between the EU and the East African Community could lead to tariffs. Kenyan businesses have been alarmed by delays in signing the trade pact, known as the Economic Partnership Agreement (EPA), between the EU and five-nation East African Community (EAC), after reservations raised by Tanzani
  
  Read more

• UPDATE 1-Ex-Insys sales manager arrested in U.S. fentanyl-kickback case

  29-09-2016 19:52
  
  Sept 29 (Reuters) - A former Insys Therapeutics Incdistrict sales manager was arrested on Thursday on charges he
  participated in a scheme to pay kickbacks to doctors to
  prescribe a drug containing...
  
  Read more

• Asia powers 4-percent rise in world tourism in first half: UN

  29-09-2016 19:40 via news.yahoo.com
  
  International tourism grew 4.0 percent in the first half of this year, with Asia posting the strongest growth, the World Tourism Organisation said Thursday. At around 561 million, the number of international tourists surged 21 million between January and June compared to the same period a year earlier, the Madrid-based United Nations body said in a statement. "Tourism has proven to be one of the most resilient economic sectors worldwide," UN World Tourism Organisation (UNWTO) Secretary-General T
  
  Read more

• Wall Street dragged down by Apple, health stocks

  29-09-2016 19:04 via news.yahoo.com
  
  The S&P healthcare index dropped 1.04 percent as shares of Merck and Johnson & Johnson booked losses. Apple fell 1.23 percent after Barclays cut its price target. The stock was the biggest drag on Wall Street.
  
  Read more

• Britain's FTSE buoyed by oil shares after OPEC agrees supply curbs

  29-09-2016 18:12
  
  LONDON, Sept 29 (Reuters) - Britain's top share index
  approached a 1-1/2 year high on Thursday, boosted by heavyweight
  oil companies after a decision by OPEC to curb output for the
  first time since...
  
  Read more

• Alcobra plunges after FDA places hold on ADHD drug

  29-09-2016 18:01
  
  Sept 29 (Reuters) - Alcobra Ltd's market value more
  than halved on Thursday, a day after the company said the U.S.
  Food and Drug Administration had placed a hold on its lead
  experimental drug.
  
  Read more

• Average US 30-year mortgage rate slips to 3.42 percent

  29-09-2016 17:55 via news.yahoo.com
  
  WASHINGTON (AP) — Long-term U.S. mortgage rates slipped this week to the lowest level since mid-July.
  
  Read more

• South Africa's Zuma orders ministers to tackle university 'mayhem'

  29-09-2016 17:51 via news.yahoo.com
  
  South Africa's President Jacob Zuma has ordered his ministers to tackle student protests that have shut down most universities, a cabinet spokesman said on Thursday, amid concerns over the impact of the disruption on state finances and the economy. The students' refusal to accept fee hikes is another blow for Africa's most advanced economy, which is at risk of being cut to "junk" by ratings agencies later this year. "President Jacob Zuma has instructed the justice, crime prevention and security
  
  Read more

• Largest hedge funds bleed assets: survey

  29-09-2016 17:50
  
  NEW YORK (Reuters) - Assets at the largest hedge funds have dropped sharply, according to a new survey by industry data and news provider Hedge Fund Intelligence.
  
  Read more

• U.S. economy less sluggish in second quarter; companies investing more

  29-09-2016 17:30 via news.yahoo.com
  
  WASHINGTON (Reuters) - U.S. economic growth was less sluggish than previously thought in the second quarter as exports grew more than imports and businesses raised their investments, hopeful signs for the economic outlook.
  
  Read more

• Wall Street slips as Apple, healthcare stocks drop

  29-09-2016 17:29 via news.yahoo.com
  
  The S&P healthcare index fell 0.7 percent, marking the second straight day of decline as shares of Merck and Johnson & Johnson booked losses. Apple fell 1.23 percent after Barclays cut its price target. The stock was the biggest drag on Wall Street.
  
  Read more

• Wells Fargo chief offers promises, fails to appease U.S. lawmakers

  29-09-2016 17:23 via news.yahoo.com
  
  WASHINGTON/NEW YORK (Reuters) - Wells Fargo & Co Chief Executive Officer John Stumpf returned to Capitol Hill on Thursday offering a package of actions to fix widespread sales abuses that have exploded into a scandal in Washington and on Wall Street. Stumpf, who again faced tough questioning, told House of Representatives lawmakers that Wells Fargo will eliminate sales quotas for branch staff beginning Oct. 1, accelerating the plan from Jan. 1. Earlier this week, the bank took back $41 milli
  
  Read more

• EXCLUSIVE-Buyout firm Onex in the lead to acquire Save-A-Lot -sources

  29-09-2016 17:23
  
  Sept 29 (Reuters) - Private equity firm Onex Corphas made the best acquisition offer in an auction for
  Save-A-Lot, the discount grocery U.S. retail chain that
  Supervalu Inc has been considering...
  
  Read more

• Stock markets diverge, weighing oil output deal

  29-09-2016 17:14 via news.yahoo.com
  
  London (AFP) - Asian and European stocks rallied Thursday but failed to provide momentum to Wall Street which edged lower as traders weighed OPEC's surprise deal to limit oil output.
  
  Read more

• Is your workplace life insurance enough?

  29-09-2016 17:04
  
  NEW YORK (Reuters) - As benefits season kicks off, you may be focused on the changes to your health plan. But be sure to pay careful attention to your life insurance options when you fill out your...
  
  Read more

• Fed can be patient in weak global environment: Powell

  29-09-2016 17:04 via news.yahoo.com
  
  Federal Reserve Governor Jerome Powell said on Thursday the U.S. economy is in "solid shape" but that the Fed can be patient in approving any interest rate increase because of the weak global environment. "We can continue to be patient," Powell said. Powell did not say if he expected rates to rise this year, either at the Fed's November or December meetings.
  
  Read more

• Bike lanes are a sound public health investment

  29-09-2016 17:00 via news.yahoo.com
  
  By Kathryn Doyle (Reuters Health) - Every $1,300 New York City invested in building bike lanes in 2015 provided benefits equivalent to one additional year of life at full health over the lifetime of all city residents, according to a new economic assessment. New York built 45.5 miles of bike lanes in 2015, with an investment of about $8 million.
  
  Read more

• Economic growth in sub-Saharan Africa to fall to 1.6 percent

  29-09-2016 16:39 via news.yahoo.com
  
  KAMPALA, Uganda (AP) — A new World Bank report says economic growth across sub-Saharan Africa is projected to fall to 1.6 percent in 2016, the lowest level in more than two decades. Growth was 3 percent last year.
  
  Read more

• MIDEAST STOCKS-Saudi rebounds on OPEC deal but ends week with big loss

  29-09-2016 16:30 via news.yahoo.com
  
  * Saudi petrochemicals lead gains * U.S. Congress vote on suing Saudi has little impact * But some analysts see long-term problem * UAE markets follow global bourses higher * Egypt's Orascom Construction rises on buy-back price By Celine Aswad and Andrew Torchia DUBAI, Sept 29 (Reuters) - Saudi Arabia's stock market rebounded on Thursday on the back of petrochemical shares, which rallied in response to OPEC's deal to restrain oil output, but the bourse posted a big weekly loss because of governm
  
  Read more

• Fed's Lockhart 'comfortable' on U.S. rate hike if data support

  29-09-2016 16:20 via news.yahoo.com
  
  ORLANDO, Fla. (Reuters) - Atlanta Federal Reserve Dennis Lockhart said on Thursday he is "comfortable" with the central bank raising interest rates in the near future if upcoming data support his view that the economy is growing at about 2 percent.
  
  Read more

• UPDATE 2-Sumner Redstone urges Viacom-CBS deal, rules out others

  29-09-2016 16:19
  
  Sept 29 (Reuters) - Sumner Redstone's National Amusements,
  the majority shareholder of CBS Corp and Viacom Inc
  , on Thursday proposed a merger of the two and said it
  would not support the acquisition...
  
  Read more

• Wall Street lower as oil pulls back

  29-09-2016 16:10 via news.yahoo.com
  
  Oil prices rallied nearly 6 percent on Wednesday following an agreement among major oil producing countries to curb output, but were down a day later as investors worried about the deal's impact on oversupply. Kansas City Fed President and voting member Esther George told CNBC that it was time to move ahead with a rate hike. The Nasdaq Composite was down 8.78 points, or 0.17 percent, at 5,309.77.
  
  Read more

• US sharply upgrades 2nd quarter growth to 1.4%

  29-09-2016 15:59 via news.yahoo.com
  
  The US economy grew faster than originally thought in the second quarter of this year, with Commerce Department figures released Thursday showing a 1.4 percent annual rate. The Commerce Department's previous second-quarter GDP estimate had been a gloomier 1.1 percent. Job markets also showed signs of continued strength as the US Labor Department reported Thursday that unemployment claims remained low in the week ending September 24, coming in at 254,000.
  
  Read more

• Congo cbank hikes interest rate in bid to contain inflation

  29-09-2016 15:58 via news.yahoo.com
  
  KINSHASA (Reuters) - Democratic Republic of Congo's central bank has raised the main interest rate from 2 to 7 percent in a bid to contain quickening inflation, the bank said on Thursday, as low commodity prices continue to batter the economy of Africa's top copper producer. The bank will also intervene in the foreign exchange market on Friday to ease pressure on the central African nation's franc currency, spokesman Plante Kibadhi told Reuters. (Reporting by Aaron Ross; Editing by Joe Bavier)
  
  Read more

• African economic growth to dip to 1.6 pct this year: World Bank

  29-09-2016 15:12 via news.yahoo.com
  
  Economic growth in sub-Saharan Africa is likely to slip to 1.6 percent this year, from 3 percent in 2015, due to continuing woes in the continent's largest economies South Africa and Nigeria, a World Bank report said on Thursday. Growth will pick up slightly to 2.9 percent next year, according to "Africa's Pulse", the Bank's twice-yearly analysis of economic trends, which was unveiled in Ivory Coast's commercial capital Abidjan.
  
  Read more

• US economy grew at 1.4 percent rate in spring

  29-09-2016 15:07 via news.yahoo.com
  
  WASHINGTON (AP) — The U.S. economy expanded at a slightly faster pace in the spring than previously reported, aided by new-found strength in business construction.
  
  Read more

• Indian worker's suicide in Qatar raises concern over stranded migrants

  29-09-2016 15:06 via news.yahoo.com
  
  By Tom Finn DOHA (Reuters) - The death of an Indian laborer in Qatar who had complained about not being paid and later committed suicide on a building site has focused attention on migrant workers struggling amid an economic downturn in the Gulf state ahead of the 2022 World Cup. Scaffolder Ajaya Behara, 44, hanged himself in the basement of the Doha Exhibition and Convention Center on September 7, weeks after asking his employer to pay outstanding wages and renew his expired visa, according to
  
  Read more

• PepsiCo's drinks, snacks boost sales in North America

  29-09-2016 15:05 via news.yahoo.com
  
  PepsiCo sold more of its beverages and Frito-Lay snacks in North America during the third quarter, helping it deliver a profit that beat Wall Street expectations. The maker of Gatorade sports drinks and ...
  
  Read more

• Column: In-patient or not? Medicare requires hospitals to tell you

  29-09-2016 15:00
  
  CHICAGO (Reuters) - You are in the hospital for tests after experiencing dizziness. You are nervous about what the tests will show, but at least you do not have to worry about hospital bills - you...
  
  Read more

• South Africa's political uncertainty, reform of state firms a concern: S&P

  29-09-2016 14:59 via news.yahoo.com
  
  The slow reform of South Africa's state-owned firms and the upheaval swirling around the finance minister pose risks to the country's investment grade credit rating, an executive from Standard & Poor's said on Thursday. "We have said before that we take comfort from the targets set by the National Treasury. S&P's analysts left South Africa's BBB- rating on a 'negative' outlook in June.
  
  Read more

• Fed's Lockhart wants to see more improvement before hiking U.S. rates

  29-09-2016 14:46 via news.yahoo.com
  
  A top U.S. Federal Reserve official said on Thursday he supported the U.S. central bank's decision to leave interest rates unchanged at its policy meeting earlier this month until there was more evidence the economy is approaching the Fed's goal of full employment and 2 percent inflation. Atlanta Federal Reserve President Dennis Lockhart said he expected the Fed would raise interest rates "before long". "However, I did support the consensus view that before taking the next move, it makes sense t
  
  Read more

Follow @FinanceUSA_News on Twitter!