Finance news

• Wall Street scion Caspersen gets 4 years in prison for $38.5 million fraud

  04-11-2016 22:58 via news.yahoo.com
  
  By Nate Raymond NEW YORK (Reuters) - Former Wall Street executive Andrew Caspersen was sentenced on Friday to four years in prison for engaging in what prosecutors say was a Ponzi-like scheme to defraud investors including family members and friends out of $38.5 million. Caspersen, who worked at a unit of investment banker Paul Taubman's PJT Partners Inc before his arrest in March, was sentenced by U.S. District Judge Jed Rakoff in Manhattan after pleading guilty to charges including securities
  
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• TSX suffers lowest close in six weeks as energy, banks fall

  04-11-2016 22:13 via news.yahoo.com
  
  By Fergal Smith TORONTO (Reuters) - Canada's benchmark stock index on Friday closed at its lowest in six weeks on declines in energy and banking shares, pressured by lower oil prices and an uncertain U.S. interest rate and political environment. The Toronto Stock Exchange's S&P/TSX composite index closed down 74.17 points, or 0.51 percent, at 14,509.25, while on Wall Street, the S&P 500 ended lower for the ninth straight session, unnerved by a recent tightening in the U.S. presidential e
  
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• BRIEF-Freddie Mac prices $1 billion multifamily K-Deal, K-723

  04-11-2016 22:04
  * Federal Home Loan Mortgage Corp - Expects to issue more
  than $1 billion in K-723 certificates, which are expected to
  settle on or about November 16, 2016Source text for Eikon:Further company...
  
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• Exclusive: Chipotle, Ackman talks intensify with confidentiality agreement

  04-11-2016 22:02
  
  BOSTON/LOS ANGELES(Reuters) - Billionaire investor William Ackman and Chipotle Mexican Grillhave signed an agreement to engage in confidential discussions, a source familiar with the matter said,...
  
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• Wall Street scion Caspersen gets four years in prison for $38 million fraud

  04-11-2016 21:59 via news.yahoo.com
  
  NEW YORK (Reuters) - Former Wall Street executive Andrew Caspersen was sentenced on Friday to four years in prison for engaging in what prosecutors say was a Ponzi-like scheme to defraud investors including family members and friends out of $38.5 million.
  
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• UPDATE 1-U.S. dollar net longs hit more than 9-month high-CFTC, Reuters data

  04-11-2016 21:59
  (Adds details on dollar, euro, sterling contracts, comment,
  byline)By Gertrude Chavez-DreyfussNov 4 (Reuters) - Speculators increased positive bets on the
  U.S. dollar for a sixth straight...
  
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• Cuba, Unilever start work on joint soap and toothpaste factory

  04-11-2016 21:59
  
  HAVANA (Reuters) - Communist-ruled Cuba and global consumer products company Unilever Plcon Friday started work on their new $35 million soap and toothpaste factory, a joint venture in the Mariel...
  
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• GLOBAL MARKETS-Stocks slip on U.S. election worries; oil prices dip

  04-11-2016 21:53
  * Bond prices up as oil price drop risks lower inflation(Adds U.S. markets close; updates throughout)
  
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• S&P 500 index marks its longest losing streak in 36 years

  04-11-2016 21:51 via news.yahoo.com
  
  The slow, steady retreat of the stock market ahead of the 2016 election continued Friday, with the market falling for a ninth straight day. Wall Street is now in its longest period of decline in more than ...
  
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• How the Dow Jones industrial average fared on Friday

  04-11-2016 21:46 via news.yahoo.com
  
  NEW YORK (AP) — The slow, steady retreat of the stock market ahead of the 2016 election continued Friday, with the market falling for a ninth straight day. Wall Street is now in its longest period of decline in more than three decades.
  
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• BRIEF-Bonanza Creek Energy says borrowing base under credit agreement dated March 29, 2011 was reduced from $200 mln to $150 mln

  04-11-2016 21:43
  * Bonanza Creek Energy Inc - Borrowing base under credit
  agreement dated March 29, 2011 was reduced from $200 million to
  $150 million - SEC filingSource text: [http://bit.ly/2fkAXoF]
  Further...
  
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• CANADA FX DEBT-C$ down in volatile trade as oil, election weigh

  04-11-2016 21:39
  
  (Adds comment)* Canadian dollar settles at C$1.3403, or 74.61 U.S. cents* Loonie touched weakest since March at C$1.3466 during
  session* Bond prices higher across the yield curve...
  
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• BRIEF-Tech Data enters enters second amended, restated revolving credit agreement - SEC Filing

  04-11-2016 21:38
  * Tech Data - entered second amended, restated revolving
  credit agreement which replaces amended,restated credit
  agreement entered into on Nov 5, 2015
  
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• S&P 500 losing streak extends to ninth straight day

  04-11-2016 21:35 via news.yahoo.com
  
  The S&P 500 ended lower on Friday for a ninth straight day, the longest losing streak for the benchmark index in more than 35 years, as investors stayed on edge ahead of an uncertain U.S. election. The tech-heavy Nasdaq also ended lower for a ninth-consecutive session, while the Dow industrials closed down for a seventh straight day. Investors have been unnerved by signs of a tightening presidential race between Democrat Hillary Clinton and Republican Donald Trump.
  
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• Greek PM reshuffles cabinet to speed up reforms, boost popularity

  04-11-2016 21:26 via news.yahoo.com
  
  ATHENS (Reuters) - Greek Prime Minister Alexis Tsipras reshuffled his cabinet late on Friday to try to speed up reforms agreed under an international bailout and shore up his government's popularity. Tsipras signaled that he would stay the fiscal course agreed with the European Union and the International Monetary Fund by leaving his finance minister, Euclid Tsakalotos, in his post. He appointed Dimitris Liakos, the chief of his economic office and a former fund manager, as minister responsible
  
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• Exxon's bid for InterOil in doubt after Canadian court ruling

  04-11-2016 21:26
  
  (Reuters) - InterOil Corpsaid on Friday an appeals court in Canada had overturned approval of the natural gas producer's $2.5 billion sale to Exxon Mobil Corp , throwing the deal's viability in...
  
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• UPDATE 1-Speculators turn net short in U.S. 10-year T-notes -CFTC

  04-11-2016 21:19
  
  (Adds details on latest CFTC data)Nov 4 (Reuters) - Speculators were more bearish on U.S.
  10-year Treasury note futures earlier this week before the
  Federal Reserve's decision to leave interest...
  
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• BRIEF-NN amends and restates credit agreement

  04-11-2016 21:17
  
  * Says on Oct 31, Co entered into amendment to amended and
  restated credit agreement
  
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• BRIEF-Brinks certain subsidiaries entered into a $100 mln uncommitted facility agreement

  04-11-2016 21:16
  * Brinks Co - On October 31, company, certain subsidiaries
  entered into a $100 million uncommitted facility agreement - SEC
  filing
  
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• BRIEF-Accuray entered into an amendment to financing agreement

  04-11-2016 21:15
  * Accuray - On November 4, entered into an amendment to
  financing agreement dated as of January 11, 2016 - SEC filing
  
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• Bankrupt coal producer Peabody wants to hire Lazard Freres for foreign M&As

  04-11-2016 20:57
  
  SAN FRANCISCO, Nov 4 (Reuters) - Bankrupt U.S. coal producer
  Peabody Energy Corp, which is looking to sell assets
  in Australia, is seeking permission for Lazard Freres & Co LLC
  to provide merger and...
  
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• U.S. senators raise questions over fired Wells Fargo workers

  04-11-2016 20:43
  
  (Reuters) - Wells Fargo & Cohas fired hundreds of employees with Wall Street licenses for improper sales practices, three U.S. senators said on Thursday.
  
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• U.S. fracking sand firms boost prices in sign of shale recovery

  04-11-2016 20:30
  
  NEW YORK, Nov 4 (Reuters) - U.S. producers of sand used to
  extract oil from shale are raising prices due to stronger
  demand, a sign higher oil prices are improving the outlook for
  the domestic...
  
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• Global stocks jittery after election-linked selling; oil prices weak

  04-11-2016 20:27 via news.yahoo.com
  
  By Saqib Iqbal Ahmed NEW YORK (Reuters) - Global equity markets were jittery on Friday, even as Wall Street clung to modest gains as investors looked past worries about the outcome of the U.S. presidential election to snap an eight-day losing streak. Oil prices remained weak on scepticism about whether OPEC members will adhere to planned production limits, boosting concerns about low inflation and sending U.S. Treasury prices higher. A dismal outing for Asian and European share indexes weighed o
  
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• Stocks jittery after election-linked selling; oil prices weak

  04-11-2016 20:24 via news.yahoo.com
  
  By Saqib Iqbal Ahmed NEW YORK (Reuters) - Global equity markets were jittery on Friday, even as Wall Street clung to modest gains as investors looked past worries about the outcome of the U.S. presidential election to snap an eight-day losing streak. Oil prices remained weak on scepticism about whether OPEC members will adhere to planned production limits, boosting concerns about low inflation and sending U.S. Treasury prices higher. A dismal outing for Asian and European share indexes weighed o
  
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• U.S. tentatively approves Delta-Aeromexico venture

  04-11-2016 20:13
  
  WASHINGTON/NEW YORK (Reuters) - Delta Air Lines Incand Aeromexico can set prices and coordinate schedules for their U.S.-Mexico flights, but they must free up certain airport slots to bolster...
  
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• S&P set to snap losing streak after strong jobs report

  04-11-2016 20:13 via news.yahoo.com
  
  The S&P 500 was on track to snap a streak of eight straight days of declines, which had been the benchmark's longest run of down days since the 2008 financial crisis. The tech-heavy Nasdaq was also on pace to snap an eight-session losing streak. Over its losing streak, the S&P 500 had fallen nearly 3 percent.
  
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• Will the US Government Step in to Regulate Drug Prices?

  04-11-2016 20:06 via news.yahoo.com
  
  With federal prosecutors investigating the generic drug industry for alleged price fixing, speculation that Congress will step in next year to find ways to contain soaring prescription drug prices is more than a rumor.  Bloomberg first reported on Thursday that federal prosecutors could bring charges against a dozen or more prominent generic drug companies for price collusion. Teva Pharmaceutical Industries, the largest generic drug company in the world, and Endo International, have acknowl
  
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• Fed policymakers signal rate hikes ahead, gradually

  04-11-2016 20:02 via news.yahoo.com
  
  ORLANDO, Fla./MEXICO CITY (Reuters) - U.S. job gains in October showed continued progress towards the Federal Reserve's goals, two Fed policymakers said on Friday, with both signaling they would support a rate increase at the U.S. central bank's next meeting, in December. It is a good indicator for the overall momentum of the economy," said Atlanta Fed President Dennis Lockhart, who does not vote on the Fed's policy setting committee this year. In Mexico City, Dallas Fed President Robert Kaplan
  
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• Madoff victims to recoup $32.1 million in Cohmad settlement

  04-11-2016 19:38
  
  NEW YORK (Reuters) - Victims of Bernard Madoff's Ponzi scheme will receive another $32.1 million under a new settlement over the swindler's ties to Cohmad Securities Corp, whose clients invested more...
  
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• UPDATE 2-Ratan Tata installs new management team at Tata Sons

  04-11-2016 19:36
  
  MUMBAI, Nov 4 (Reuters) - Tata Sons has put in place a new
  management team for the $100 billion steel-to-software group,
  days after its board ousted Chairman Cyrus Mistry and disbanded
  his advisory...
  
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• Madoff victims to recoup $32.1 mln in Cohmad settlement

  04-11-2016 19:30
  
  NEW YORK, Nov 4 (Reuters) - Victims of Bernard Madoff's
  Ponzi scheme will receive another $32.1 million under a new
  settlement over the swindler's ties to Cohmad Securities Corp,
  whose clients...
  
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• UPDATE 2-CMS revokes Alere unit's Medicare enrollment

  04-11-2016 19:22
  
  Nov 4 (Reuters) - Diagnostic company Alere Inc said
  on Friday the Medicare enrollment of one of its units had been
  revoked effective Nov. 4 by the Centers for Medicare and
  Medicaid Services (CMS),...
  
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• Construction group Saint Gobain to buy Asian group E-Mix

  04-11-2016 18:58
  
  PARIS (Reuters) - French construction company Saint Gobainannounced on Friday a deal to buy E-Mix, an Asian mortars and dry mixes company, for around 104 million euros ($116 million) as part of...
  
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• Whole Foods shareholder pushing for changes, sale of company: Bloomberg

  04-11-2016 18:52
  
  (Reuters) - One of Whole Foods Market Inc'stop ten shareholders has met potential activist investors to discuss management changes at and explore a sale of the upscale grocery chain, Bloomberg...
  
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• Stocks edge higher after encouraging report on US job growth

  04-11-2016 18:35 via news.yahoo.com
  
  NEW YORK (AP) — The stock market edged higher in afternoon trading Friday, helped by a strong jobs report for October, keeping the market out of danger of declining for a ninth straight day. Investors continue to focus on the U.S. presidential election.
  
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• Britain's FTSE 100 suffers biggest weekly fall in 10 months

  04-11-2016 18:10
  
  * Pharma firms fall again as politicians rail against
  pricing
  
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• S&P on track to snap eight-day losing streak

  04-11-2016 18:07 via news.yahoo.com
  
  The S&P 500 index was on track to snap its eight-day losing streak, its longest since 2008, even as worries over the outcome of the U.S. presidential election continued to weigh on investor sentiment. Investors have been unnerved by signs the U.S. presidential race between Democrat Hillary Clinton and Republican Donald Trump is tightening, after Clinton had until recently been thought to have a clear lead. The latest Reuters/Ipsos polling showed Clinton, seen as the status quo candidate by m
  
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• Fed's Kaplan calls for fiscal, structural reform to boost U.S. growth

  04-11-2016 18:04 via news.yahoo.com
  
  U.S. policymakers should boost public spending on infrastructure, improve education and undertake tax, regulatory and trade reforms to speed up economic growth, Dallas Federal Reserve Bank President Robert Kaplan said on Friday. Speaking in Mexico just four days ahead of the U.S. presidential election, Kaplan said he expected the U.S. economy to grow about 2 percent this year and for inflation to rise back to the Fed's 2-percent target in the medium term.
  
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• REFILE-CMS to revoke Alere unit's Medicare enrollment

  04-11-2016 18:00
  
  Nov 4 (Reuters) - The Centers for Medicare and Medicaid
  Services (CMS) sent Alere Inc a notice on Oct. 5 saying
  it would revoke the Medicare enrollment of one of the molecular
  diagnostic company's...
  
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• Bank of America accused of gouging ex-inmates with card fees

  04-11-2016 17:29
  
  NEW YORK (Reuters) - Bank of America Corp has been hit with a proposed class action accusing it of charging exorbitant fees to thousands of former Arizona prison inmates who were issued debit cards...
  
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• Legacy Tier 1 in cross-hairs as StanChart breaks with convention

  04-11-2016 17:18
  
  LONDON, Nov 4 (IFR) - Holders of old style hybrid Tier 1
  bank debt were left nursing hefty losses this week after
  Standard Chartered said it would not redeem a US$750m legacy
  Tier 1 bond next...
  
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• Stocks edge higher at midday after encouraging jobs report

  04-11-2016 17:17 via news.yahoo.com
  
  The stock market edged higher in midday trading Friday, helped by a strong jobs report for October, keeping the market out of danger of declining for a ninth straight day. Investors continue to focus on ...
  
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• Lockhart says bar now high for Fed to not move in December

  04-11-2016 17:10 via news.yahoo.com
  
  It would take a lot for the Fed to not raise interest rates in December, with a solid employment report on Friday and only one more jobs report before the next policy meeting, Atlanta Federal Reserve bank president Dennis Lockhart said. It is a good indicator for the overall momentum of the economy," said Lockhart, who is not a voting member of the Fed's policy setting committee this year.
  
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• Twitter Latam executive sees customer service strategy as key to revenue boost

  04-11-2016 17:05 via news.yahoo.com
  
  Twitter Inc is seeking revenue outside traditional advertising sales by helping companies develop customer service channels on its platform, according to its most senior executive in Latin America, a testing ground for the new strategy. Guilherme Ribenboim said in an interview on Friday that features launched this week give businesses more ways to automate customer service through direct Twitter messages to clients, moving beyond simply responding to complaints or paying to promote posts. Twitte
  
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• 2 low-beta stocks for investors who hate stock market volatility

  04-11-2016 17:00 via news.yahoo.com
  
  Should you switch into these dividend-paying low volatility shares ahead of the US election?
  
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• UPDATE 3-BMW warns profits under pressure as car margins slip

  04-11-2016 16:58
  
  FRANKFURT, Nov 4 (Reuters) - BMW's profit margins
  on cars fell in the third-quarter, hit by spending on more
  engineering staff and new electric car technologies against a
  backdrop of stiffer price...
  
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• CORRECTED-UPDATE 1-Leonardo expects 2016 revenue to undershoot guidance

  04-11-2016 16:42
  
  MILAN, Nov 4 (Reuters) - Italy's Leonardo said it
  expected its 2016 revenue would slightly miss the lowest end of
  its guidance range as the aerospace and defence company grapples
  with slower...
  
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• Mexico says modeling impact of U.S. election, will act if needed

  04-11-2016 16:36 via news.yahoo.com
  
  Market volatility ahead of the U.S. election has given Mexico the chance to model how the Nov. 8 vote could affect banks and corporations, Finance Minister Jose Antonio Meade said on Friday, adding that the government was ready to act if needed. The peso currency has been whiplashed by fears of victory for Republican candidate Donald Trump, who has vowed to build a massive southern border wall and threatened to ditch a trade deal with Mexico and Canada if he cannot recast it in the United States
  
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• S&P on track to snap longest losing streak since 2008

  04-11-2016 16:33 via news.yahoo.com
  
  U.S. stocks were higher on Friday, with the S&P 500 looking to snap its longest losing streak since 2008, even as worries over the outcome of the U.S. presidential election continued to weigh on sentiment. Investors have been unnerved by signs the U.S. presidential race between Democrat Hillary Clinton and Republican Donald Trump is tightening, after Clinton had until recently been thought to have a clear lead. The latest Reuters/Ipsos polling showed Clinton, seen as the status quo candidate
  
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