Finance news

• Canada holds 2017 immigration target at 300,000 people

  31-10-2016 22:04 via news.yahoo.com
  
  By Leah Schnurr OTTAWA (Reuters) - Canada said on Monday it would let 300,000 immigrants into the country in 2017, maintaining this year's target despite recommendations to increase it to help spur economic growth and help business leaders bring in more talent. Immigration Minister John McCallum told reporters that making the 300,000 target permanent laid the foundation for future immigration growth, and fought off the suggestion that he had lost a battle against anti-immigration forces. "I do b
  
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• US indexes waver as traders use caution ahead of election

  31-10-2016 21:34 via news.yahoo.com
  
  Stocks were mostly unchanged on Monday, despite some positive economic data and a raft of big new merger announcements over the weekend. Hesitant traders continue to watch the day-to-day developments of ...
  
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• Wall St. ends flat amid election doubts, M&A flurry

  31-10-2016 21:27 via news.yahoo.com
  
  Wall Street ended barely changed on Monday as investors digested the latest large-scale corporate mergers as well as the most recent twist in a tumultuous U.S. presidential election. Stocks were jolted Friday by disclosure that the FBI was investigating more emails as part of a probe into Hillary Clinton's use of a private email system, injecting fresh uncertainty over the Democratic candidate's presumed lead in the presidential election over Republican rival Donald Trump. Opinion polls have sho
  
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• Wall St. treads water amid election doubts, M&A flurry

  31-10-2016 20:24 via news.yahoo.com
  
  Wall Street was little changed on Monday as investors digested the latest in a spate of large-scale corporate mergers as well as revelations ahead of the impending U.S. presidential election. Stocks were jolted on Friday by disclosure that the FBI was investigating more emails as part of a probe into Hillary Clinton's use of a private email system, causing fresh uncertainty over the Democratic candidate's presumed lead in the presidential election over Republican rival Donald Trump. "I don&rsquo
  
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• Under fire, Carney to stay extra year at Bank of England

  31-10-2016 20:23 via news.yahoo.com
  
  By William James and William Schomberg LONDON (Reuters) - Bank of England Governor Mark Carney said on Monday he will stay in his job for an extra year until the end of June 2019 to help smooth Britain's departure from the European Union, but he will depart two years short of a full term. Carney, who has come under heavy criticism from pro-Brexit politicians for warning before June's referendum of the economic risks of voting to leave the EU, had the option to stay at the Bank until 2021. "I wou
  
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• Oil dips on OPEC output-cut concerns, stocks shaky

  31-10-2016 20:21 via news.yahoo.com
  
  By Saqib Iqbal Ahmed NEW YORK (Reuters) - Oil prices fell sharply on Monday to touch a one-month low on doubts about OPEC's ability to implement its planned production cut, while global equity prices were shaky as Wall Street struggled to build on a sentiment boost from a string of M&A deals. Oil prices dropped more than $1 a barrel after officials from the Organization of the Petroleum Exporting Countries (OPEC) and non-member producers met in Vienna on Saturday but failed to make any speci
  
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• Tesco faces £100m claim from investors over accounting scandal

  31-10-2016 19:53 via news.yahoo.com
  
  Tesco is facing a claim of more than £100m in damages by a group of investors who say the supermarket made misleading statements to the stock market. The group of 124 British institutional funds, who say they lost millions of pounds after Tesco mis-stated profits two years ago, are involved in the claim filed by law firm Stewarts Law at the high court in London on Monday. The action is being funded by Bentham Europe, a group that specialises in funding litigation and is ultimately controll
  
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• SEC settles with auditor in NYC suburb's bond fraud case

  31-10-2016 19:46
  
  NEW YORK (Reuters) - A New York auditor on Monday settled U.S. Securities and Exchange Commission charges that it issued fraudulent audit reports in connection with municipal bond offerings by the...
  
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• Canada says must work hard to ensure firms benefit from EU deal

  31-10-2016 19:45 via news.yahoo.com
  
  By David Ljunggren OTTAWA (Reuters) - The Canadian government will have to work hard to ensure firms can benefit from a landmark free trade deal that Canada has agreed with the European Union, Trade Minister Chrystia Freeland said on Monday. After the EU settled a series of internal disputes, Prime Minister Justin Trudeau signed the Comprehensive Economic and Trade Agreement (CETA) in Brussels on Sunday. Although Freeland introduced legislation into Parliament on Monday to ratify the pact, Canad
  
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• US indexes waver as traders are cautious ahead of election

  31-10-2016 19:26 via news.yahoo.com
  
  NEW YORK (AP) — Stocks moved between slight gains and losses in mid-afternoon trading on Monday, helped by positive economic data and a series of big mergers announced over the weekend. Traders continue to watch the day-to-day developments of the U.S. presidential election, which is slightly more than a week away.
  
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• Got bank? Election could create flood of marijuana cash with no place to go

  31-10-2016 19:22
  
  October 31 (Reuters) - Although the sale of marijuana is a federal crime, the number of U.S. banks working with pot businesses, now sanctioned in many states, is growing, up 45 percent in the last...
  
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• BRIEF-NYSE says staff of regulation to commence proceedings to delist Performance Sports Group

  31-10-2016 18:27
  
  * New York Stock Exchange - Staff of NYSE regulation has
  determined to commence proceedings to delist common stock of
  Performance Sports Group LtdFurther company coverage:
  
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• M&A flurry lifts S&P, Nasdaq; Nike drags Dow

  31-10-2016 18:22 via news.yahoo.com
  
  The S&P 500 and the Nasdaq were slightly higher on Monday as a raft of deals lifted sentiment, even as investors remained cautious ahead of the outcome of the U.S. election next week. The Dow Jones Industrial average was little changed, weighed down by a 3 percent fall in Nike following a BofA Merrill Lynch downgrade. While Clinton had opened a recent lead over her unpredictable Republican rival Donald Trump in national polls, it had been narrowing even before the email controversy resurface
  
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• Network gear maker Brocade in advanced talks to sell itself: Bloomberg

  31-10-2016 18:15
  
  (Reuters) - Network gear maker Brocade Communications Systems Inc is in advanced talks to sell itself, Bloomberg reported on Monday, citing people familiar with the matter.
  
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• German supermarkets settle dispute to save 15,000 jobs

  31-10-2016 18:08 via news.yahoo.com
  
  The German economy minister on Monday said two leading retailers had settled a dispute over the takeover of loss-making supermarket chain Kaiser's Tengelmann, saving some 15,000 jobs. The agreement will pave the way for the country's largest supermarket group Edeka to take over Kaiser's stores while a financial settlement for rival group Rewe would be worked out in coming days. "The efforts have paid off to secure the jobs of 15,000 people," Economy Minister Sigmar Gabriel told reporters.
  
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• Xerox settles with large investor over spin-off

  31-10-2016 18:05
  
  (Reuters) - Xerox Corpsaid on Friday it had settled with one of its biggest shareholders who had sued earlier to block a plan for spinning off its document outsourcing business into a new publicly...
  
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• UPDATE 2-Ex-chairman eyes bid for bankruptcy-hit Performance Sports

  31-10-2016 17:50
  
  * Company still pursuing higher bids (Recasts, adds comments from former chairman, time frame for sale)
  
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• Blackstone to buy TeamHealth for $6.1 billion

  31-10-2016 17:37
  
  (Reuters) - TeamHealth Holdings Incon Monday said private equity firm Blackstone Group LPwould buy it for $6.1 billion, in a deal meant to help the U.S. hospital staffing company better cope with...
  
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• GE to merge oil unit with Baker Hughes to create service giant

  31-10-2016 17:36
  
  (Reuters) - General Electric Cosaid on Monday it would merge its oil and gas business with Baker Hughes Inc , creating the world's second-largest oilfield services provider as industry competition...
  
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• U.S. consumer spending ends third-quarter with strong momentum

  31-10-2016 17:30 via news.yahoo.com
  
  U.S. consumer spending rose more than expected in September as households boosted purchases of motor vehicles and inflation increased steadily, which could bolster expectations of an interest rate hike from the Federal Reserve in December. The Commerce Department said on Monday that consumer spending, which accounts for about 70 percent of U.S. economic activity, increased 0.5 percent after dipping 0.1 percent in August. Last month's rise in consumer spending offered a fairly strong handoff from
  
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• UPDATE 2-NextEra Energy to buy rest of Oncor for about $2.4 bln

  31-10-2016 17:18
  
  Oct 31 (Reuters) - Power producer NextEra Energy Incsaid on Monday it would buy the remaining stake in Oncor
  Electric Delivery Co for about $2.4 billion in cash.
  
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• Stocks edge higher as traders are cautious ahead of election

  31-10-2016 17:11 via news.yahoo.com
  
  Stocks are slightly higher in midday trading on Monday, helped by positive economic data and investors reacting positively to a series of big mergers announced over the weekend. Traders also continue to ...
  
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• UK PM May's spokeswoman declines to comment on talks with Carney

  31-10-2016 17:06
  
  LONDON, Oct 31 (Reuters) - Prime Minister Theresa May's
  spokeswoman on Monday declined to comment on the contents of a
  meeting with Bank of England Central Bank Governor Mark Carney.
  
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• Italy's response to Commission on 2017 budget "un-constructive" -EU official

  31-10-2016 17:00
  
  BRUSSELS, Oct 31 (Reuters) - Italy's response to the
  European Commission's concerns regarding its 2017 draft budget
  assumptions has not been constructive, an EU official said on
  Monday, as Rome tries...
  
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• Pharma and aerospace seek Brexit assurances after Nissan deal

  31-10-2016 16:59
  
  LONDON (Reuters) - Britain's pharmaceutical and aerospace industries, both big exporters, are stepping up pressure on the government for assurances about their future after last week's post-Brexit...
  
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• Dollar rebounds after Clinton probe shock, stocks steady

  31-10-2016 16:57 via news.yahoo.com
  
  By Saqib Iqbal Ahmed NEW YORK (Reuters) - The dollar rebounded on Monday, shaking off concerns linked to an investigation that could influence the U.S. presidential election, while global equity prices steadied, helped by a buoyant Wall Street following a string of merger deals. Oil prices slid after non-OPEC producers failed to make any specific commitment to join the Organization of the Petroleum Exporting Countries in limiting output to support prices. The U.S. dollar rose against a basket of
  
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• Dollar rebounds after Clinton probe shock, global stocks steady

  31-10-2016 16:55 via news.yahoo.com
  
  The dollar rebounded on Monday, shaking off concerns linked to an investigation that could influence the U.S. presidential election, while global equity prices steadied, helped by a buoyant Wall Street following a string of merger deals. Oil prices slid after non-OPEC producers failed to make any specific commitment to join the Organization of the Petroleum Exporting Countries in limiting output to support prices. The U.S. dollar rose against a basket of major currencies on reduced worries over
  
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• GLOBAL MARKETS-Dollar rebounds after Clinton probe shock, stocks steady

  31-10-2016 16:50
  
  * U.S. Treasury prices up on election uncertainty(Updates to U.S. trading, changes byline, dateline; previous
  LONDON)
  
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• Rapid currency slide chokes business in Egypt

  31-10-2016 16:49
  
  CAIRO, Oct 31 (Reuters) - Business is grinding to a
  near-halt in Egypt as companies struggle to keep pace with a
  rapid slide in the black market value of the pound. Factories
  are halting production,...
  
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• US vote twist spooks stock markets

  31-10-2016 16:43 via news.yahoo.com
  
  Hong Kong (AFP) - Wall Street joined European and Asian stocks heading gently south Monday as the US presidential election race took a dramatic late twist.
  
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• UPDATE 2-Spain breakthrough not enough to allay market concerns over public spending

  31-10-2016 16:42
  
  * Focus on minority government's ability to implement
  reforms
  
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• BRIEF-Howard Bancorp files for mixed shelf of upto $50 mln

  31-10-2016 16:36
  
  * Files for mixed shelf of upto $50.0 million - sec filingSource text : http://bit.ly/2dVhcXm
  Further company coverage:
  
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• Wall Street flat as investors hold off ahead of election

  31-10-2016 16:35 via news.yahoo.com
  
  While Clinton had opened a recent lead over her unpredictable Republican rival Donald Trump in national polls, it had been narrowing even before the email controversy resurfaced. An ABC News/Washington Post poll released on Sunday showed Clinton with a statistically insignificant 1-point national lead. "The narrowing of the polls is making the market a little bit nervous because it had priced in a Clinton victory," said Thomas Wilson, senior investment manager at Brinker Capital, Berwyn, Pennsyl
  
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• BRIEF-Wells Fargo & Co says issued $2 bln floating rate notes due Oct. 31, 2023 - SEC filing

  31-10-2016 16:35
  
  * On October 31, 2016, Wells Fargo & Company issued $2
  billion floating rate notes due October 31, 2023 - SEC filingSource text (http://bit.ly/2f9GY6j)
  Further company coverage:
  
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• Western powers voice support Libyan PM in standoff with rivals

  31-10-2016 16:33 via news.yahoo.com
  
  Western and some Middle Eastern powers expressed support on Monday for Libya's U.N.-brokered unity government and Prime Minister Fayez Seraj's push to restore order across the chaotic country and revive its oil-based economy. After the meeting, a spokeswoman for U.S. Secretary of State John Kerry said the ministers, who included British Foreign Secretary Boris Johnson and Italy's Paolo Gentiloni, said they had reaffirmed the "strong international support" for the GNA. The meeting included a sess
  
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• BRIEF-S&P says Atlantic City Municipal Utilities Authority, NJ 'B-' water system revenue bond rating placed on watch developing

  31-10-2016 16:24
  
  * S&P - Atlantic City Municipal Utilities Authority, NJ 'B-'
  water system revenue bond rating placed on watch developing
  
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• Exclusive: Canadian drugmaker Cipher mulls sale - sources

  31-10-2016 16:21
  
  October 31, 2016 - Cipher Pharmaceuticals Inc , a Canadian specialty pharmaceuticals manufacturer, has hired an investment bank to review strategic alternatives, including a potential sale, people...
  
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• UPDATE 1-Sri Lanka central bank keeps rates steady as credit slows

  31-10-2016 16:11
  
  * VAT hike to cause one-off inflation rise - central bank(Adds details, quotes)
  
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• Institutional funds file 100 million pounds damages claim against Tesco

  31-10-2016 16:07 via news.yahoo.com
  
  Some 125 institutional funds have filed a damages claim for more than 100 million pounds against British supermarket Tesco relating to its 2014 profit overstatement, the group coordinating the legal action said on Monday. Bentham Europe, which provides financial backing for group claims, said the legal action would seek to prove that Britain's biggest retailer breached the law by making misleading statements to the stock market that omitted material information and which were relied on by invest
  
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• BRIEF-Servicemaster announces launch of senior unsecured notes offering

  31-10-2016 16:07
  
  * Servicemaster announces launch of senior unsecured notes
  offering
  
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• Institutional funds file 100 mln stg damages claim against Tesco

  31-10-2016 16:06 via news.yahoo.com
  
  LONDON, Oct (HKSE: 3366-OL.HK - news) 31 (Reuters) - Some 125 institutional funds have filed a damages claim for more than 100 million pounds ($122 million) against British supermarket Tesco (Frankfurt: 852647 - news) relating to its 2014 profit overstatement, the group coordinating the legal action said on Monday. Bentham Europe, which provides financial backing for group claims, said the legal action would seek to prove that Britain's biggest retailer breached the law by making misleading stat
  
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• Atlanta Fed sees U.S. economy seen expanding at 2.7 percent

  31-10-2016 16:05 via news.yahoo.com
  
  NEW YORK (Reuters) - The U.S. economy is on track to grow at a 2.7 percent annualized pace in the fourth quarter, the Atlanta Federal Reserve's GDP Now forecast model showed on Monday.
  
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• Time running out for Monte dei Paschi alternative rescue plan: source

  31-10-2016 16:04
  
  ROME (Reuters) - An alternative rescue plan for Italy's Monte dei Paschi di Sienasponsored by former industry Minister Corrado Passera will fall through if the Tuscan bank does not give access to...
  
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• Traders see remote chance of Fed rate hike this week

  31-10-2016 15:38 via news.yahoo.com
  
  Traders on Monday placed a low probability the Federal Reserve would raise interest rates at its policy meeting later this week amid mixed economic data and ahead of the U.S. presidential election, according to interest rates futures. "Investment is still somewhat sluggish, consumption continues to grow solidly, and this adds up to GDP growth trending near 2 percent," Credit Suisse chief economist James Sweeney wrote in a research note on Monday. Federal funds futures implied traders saw a 6 per
  
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• Institutional funds group together to file 100 million pounds damages claim against Tesco

  31-10-2016 15:30 via news.yahoo.com
  
  Some 125 institutional funds have filed a damages claim for more than 100 million pounds against British supermarket Tesco in relation to its 2014 profit overstatement, the group coordinating the legal action said on Monday. Bentham Europe, which provides financial backing for group claims, said the legal action will seek to prove that Tesco breached the Financial Services & Markets Act by making misleading statements to the stock market that omitted material information and which were relie
  
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• Big Fidelity investor in Wells Fargo trimmed position in September

  31-10-2016 15:26
  
  BOSTON (Reuters) - Fidelity Contrafund, one of the largest investors in Wells Fargo & Co , reduced its stake in the scandal-hit bank by 5 percent in September, according to the fund's latest holdings...
  
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• Mauritian Q3 business confidence index down, hurt by global slowdown

  31-10-2016 15:21 via news.yahoo.com
  
  Business confidence in Mauritius fell in the third quarter of 2016, a survey of leading private companies showed on Monday, as the global economic environment worsened. The quarterly index, run by the Mauritius Chamber of Commerce and Industry (MCCI), dropped 5.1 percent to 93 points in the July-September quarter. The country's economy is expected to grow 3.7 percent this year, according to Statistics Mauritius, down from an earlier forecast of 3.9 percent.
  
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• Stocks are flat in early trade as US election looms

  31-10-2016 15:14 via news.yahoo.com
  
  Stocks were flat to slightly higher on Monday, helped by positive economic data and investors reacting positively to a series of big mergers announced over the weekend. Investors also continue to watch ...
  
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• S&P, Nasdaq higher, Dow dragged down by Nike

  31-10-2016 15:06 via news.yahoo.com
  
  The S&P 500 and the Nasdaq rose on Monday as a string of M&A deals lifted investor sentiment while the Dow Jones Industrial average was little changed, weighed down by a downgrade of Nike. The raft of deals helped offset some jitters caused by the FBI's review of newly discovered emails related to Hillary Clinton's private server. Dow component General Electric was up 0.56 percent at $29.38 after it said it would merge its oil and gas business with oilfield services provider Baker Hughes
  
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• CenturyLink to buy Level 3 Communications for about $24 billion

  31-10-2016 15:06
  
  (Reuters) - Telecommunications company CenturyLink Incsaid it would buy Level 3 Communications Incin a cash-and-stock deal with an equity value of about $24 billion to expand its fiber optic...
  
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