Finance news

• United to restrict low-fare flyers to one carry-on bag

  15-11-2016 23:56 via news.yahoo.com
  
  Chicago-based United is the first major U.S. carrier to make such a move for carry-ons, which it hopes will attract some new customers and push some of its regular flyers toward higher fares. Combined with better flight connections and revamped pricing algorithms, the airline said at its investor day that it aims to add $4.8 billion to yearly operating income by 2020, excluding the effect of rising wages. The new fare class, known as 'Basic Economy,' risks frustrating flyers who already feel bur
  
  Read more

• Exclusive: EU regulators seen clearing $25 billion Abbott, St Jude deal: source

  15-11-2016 23:52
  
  (Reuters) - EU antitrust regulators are expected to give conditional clearance to U.S. medical device maker Abbott Laboratories'$25 billion bid for rival St. Jude Medical Inc , a person familiar...
  
  Read more

• US, Europe markets rise on rosy economic data

  15-11-2016 23:43 via news.yahoo.com
  
  Major equities markets moved higher on both sides of the Atlantic Tuesday as investors were cheered by economic data, and energy stocks followed oil prices upward.
  
  Read more

• Canada expects joint trade talks with U.S., Mexico: finance minister

  15-11-2016 23:07 via news.yahoo.com
  
  By Helen Reid and Marc Jones LONDON (Reuters) - Canada aims to hold joint talks with the United States and Mexico over their trade agreements, which U.S. President-elect Donald Trump has threatened to scrap, the Canadian finance minister said on Tuesday. "We have an enormous stake in the success of our relationship with the U.S. and with Mexico: our supply chains are intertwined, we've developed a very successful economic unit over the course of the last twenty years," Bill Morneau said at the L
  
  Read more

• Advertisement

• Wall Street rises, lifted by technology and energy stocks

  15-11-2016 22:59 via news.yahoo.com
  
  The Dow Jones industrial average extended its rally to seven days after it turned positive in late trading, while oil futures continued their rise and investors kept piling into technology stocks. "Buyers who were waiting to buy technology stocks didn't have an option but to get involved and continue buying the strength. The technology sector was the S&P's biggest gainer, closing up 1.3 percent in a partial rebound from its 3 percent decline since Donald Trump's shock victory on Nov. 8.
  
  Read more

• Trump eyeing Mnuchin and Ross for economy jobs - Icahn

  15-11-2016 22:41 via news.yahoo.com
  
  By Jennifer Ablan and David Lawder NEW YORK/WASHINGTON (Reuters) - Longtime Donald Trump supporter and activist investor Carl Icahn confirmed on Tuesday that the president-elect is looking at Wall Street veteran Steven Mnuchin as his choice for treasury secretary and billionaire Wilbur Ross for commerce secretary. Steve Mnuchin and Wilbur Ross are being considered for Treasury and Commerce. Both would be great choices," Icahn wrote on Twitter.
  
  Read more

• Oil rallies on output cut bets; tech, energy lead stocks up

  15-11-2016 21:37 via news.yahoo.com
  
  Oil prices jumped nearly 6 percent on Tuesday on bets OPEC members will agree to cut output, while stocks edged higher, led by technology shares that had fallen recently. The U.S. dollar index held above the 100 level and touched an 11-month high, while Treasuries prices were little changed with yields near multi-month highs. Tech stocks had been sold off in favor of sectors with lower valuations on the expectation of a spike in economic growth.
  
  Read more

• Wall Street rises, helped by tech and energy

  15-11-2016 21:19 via news.yahoo.com
  
  The major three U.S. stock indexes were higher on Tuesday as tech stocks rebounded from a post-election drubbing and energy stocks were boosted by a rise in oil prices. The S&P technology sector, was up 1.5 percent after falling about 3 percent since Donald Trump's shock victory on Nov. 8 while the S&P financial sector was down 0.4 percent after rising 13.9 percent in the previous six sessions. "Right now we're seeing a little bit of a reprieve," said Marcelle Daher, co-head of North Ame
  
  Read more

• Advertisement

• Despite Trump’s Populist Victory, Wall Street Is Ready to Cash In

  15-11-2016 20:57 via news.yahoo.com
  
  Probably more than any other successful candidate in recent memory, president-elect Donald Trump will enter the White House owing little if anything to Wall Street and the big banks. Yes, Trump had some support from big names on the Street. Trump also got major financial backing from Robert Mercer, the billionaire co-CEO of Renaissance Technologies and the moneybags behind conservative think tanks, political action committees, lobbying groups and the far-right news organization Breitbart.
  
  Read more

• Russian economy minister sacked, held over '$2mn-bribe' charges

  15-11-2016 20:36 via news.yahoo.com
  
  Russian Economy Minister Alexei Ulyukayev was sacked Tuesday and put under house arrest on suspicion of pocketing a two-million-dollar bribe in a deal involving state-controlled oil giant Rosneft. Ulyukayev is the highest ranking official detained over suspected corruption since Putin took power in 2000, and his arrest unleashed speculation as to whether the probe was linked to an internal power struggle. News agencies quoted Kremlin spokesman Dmitry Peskov as saying that President Vladimir Puti
  
  Read more

• Ford still plans to move some production to Mexico

  15-11-2016 20:34 via news.yahoo.com
  
  Ford Motor Company still plans to relocate some production to Mexico despite the election of Donald Trump, who denounced the move and has threatened to impose hefty tariffs on car imports. Speaking at the opening of the Los Angeles auto show, Fields said a 35 percent import duty on cars produced in Mexico, which Trump threatened during the campaign, would hurt the US economy.
  
  Read more

• Exclusive: Ahead of CBS/Viacom deal talks, sticking points emerge - sources

  15-11-2016 20:26
  
  (Reuters) - Possible sticking points have emerged ahead of negotiations between media companies CBS Corpand Viacom Incabout a potential merger, including who will be on the board of the combined...
  
  Read more

• Russia's Putin fires economy minister over bribery charges

  15-11-2016 20:24 via news.yahoo.com
  
  By Svetlana Reiter and Andrey Kuzmin MOSCOW (Reuters) - Russian President Vladimir Putin dismissed Economy Minister Alexei Ulyukayev on Tuesday over allegations he extorted a $2 million bribe from top oil producer Rosneft, a case that could expose fault lines in the Russian leader's inner circle. Ulyukayev, a 60-year-old technocrat whose ministry oversees a politically-charged sale of state assets, is the highest-ranking Russian official to be detained while in office since the collapse of the S
  
  Read more

• Incoming Nasdaq CEO says Trump policies may benefit Wall Street

  15-11-2016 20:22 via news.yahoo.com
  
  Nasdaq Inc's incoming chief executive officer, Adena Friedman, said on Tuesday that President-elect Donald Trump's economic policies may boost trading and allow banks to take more risks, including lending more to businesses. Nasdaq on Monday announced Friedman, currently president and chief operating officer, would replace long-time CEO Robert Greifeld in January, making her one of the most powerful women on Wall Street.
  
  Read more

• Canada plans trade talks with U.S., Mexico: finance minister

  15-11-2016 19:49 via news.yahoo.com
  
  Canada aims to hold bilateral and trilateral talks with the United States and Mexico over their trade agreements, which U.S. President-elect Donald Trump has threatened to scrap, the Canadian finance minister said on Tuesday. "We have an enormous stake in the success of our relationship with the U.S. and with Mexico: our supply chains are intertwined, we've developed a very successful economic unit over the course of the last twenty years," Bill Morneau said at the London School of Economics.
  
  Read more

• Obama offers Greece solidarity on debt as police, protesters clash

  15-11-2016 19:33 via news.yahoo.com
  
  By Jeff Mason ATHENS (Reuters) - Barack Obama offered solidarity with Greece over its debt and migrant crises on Tuesday during his final trip to Europe as U.S. president before handing over power to Donald Trump. Obama delighted his Greek hosts by supporting debt relief for the recession-battered country, which has seen its economy shrink by a quarter in just seven years, but riot police had to use teargas to quell anti-U.S. protesters in central Athens. Greece hopes Obama will be able to persu
  
  Read more

• Google plans to expand London HQ, creating up to 3,000 jobs

  15-11-2016 19:17 via news.yahoo.com
  
  LONDON (AP) — Google says it plans to expand its base in Britain, creating up to 3,000 jobs — good news for the government as the prospect of leaving the European Union breeds economic uncertainty.
  
  Read more

• Hopeful Israel invites bids for gas exploration

  15-11-2016 19:09 via news.yahoo.com
  
  Israel on Tuesday invited bids for 24 new offshore oil-and-gas exploration licences it hopes will bring more major finds in the Mediterranean as it strives to become an energy exporter. "We are offering for exploration half of our economic waters in 24 blocks," Energy Minister Yuval Steinitz said, announcing the offer which closes on April 21. "Estimates are that most of the natural gas in Israel's economic waters is yet to be found," he said at a news conference, adding the US energy department
  
  Read more

• Ready for Your Holiday Party? Why More Companies Are in a Festive Mood

  15-11-2016 19:06 via news.yahoo.com
  
  A booming stock market, strong jobs market and stable economy has more companies planning to throw a holiday party this year, according to a new survey from Challenger, Gray & Christmas. “Company parties are a great way for employers to thank workers for a successful year,” Challenger, Gray & Christmas CEO John Challenger said in a statement.
  
  Read more

• Icahn: Mnuchin and Ross 'would be great choices' for Trump

  15-11-2016 19:03 via news.yahoo.com
  
  Billionaire activist investor Carl Icahn tweeted on Tuesday that Steve Mnuchin and Wilbur Ross, who are being considered as President-elect Donald Trump's treasury secretary and commerce secretary, "would be great choices" and "two of the smartest people I know." Icahn, a supporter of Trump who was often praised by the Republican during the presidential campaign for his business acumen, said in the tweet that he had spoken with Trump. Reuters had previously reported that Mnuchin, a formerGoldman
  
  Read more

• Q&A: Squandered pennies set the stage for the Simons Foundation

  15-11-2016 18:55
  
  NEW YORK (Reuters) - Long before the Giving Pledge, Jim and Marilyn Simons were donating their family's hedge fund fortune as they made it, not saving it up to distribute after they died.
  
  Read more

• Russia's Putin dismisses economy minister: Kremlin

  15-11-2016 18:52 via news.yahoo.com
  
  SOCHI, Russia (Reuters) - Russian President Vladimir Putin has dismissed Economy Minister Alexei Ulyukayev after losing trust in him, Kremlin spokesman Dmitry Peskov said on Tuesday. Ulyukayev was detained overnight and charged with extorting a $2 million bribe from Rosneft, Russia's biggest oil company. Peskov told reporters that Ulyukayev's arrest did not concern a $5 billion deal for Rosneft to purchase a stake in mid-sized oil producer Bashneft. (Reporting by Denis Pinchuk; Writing by Jack S
  
  Read more

• Russian economy minister under house arrest over '$2mn-bribe' charges

  15-11-2016 18:29 via news.yahoo.com
  
  Russia on Tuesday put Economy Minister Alexei Ulyukayev under house arrest for two months over suspicions he pocketed a two-million-dollar payoff during a deal involving state-controlled oil giant Rosneft. Ulyukayev was the highest ranking official detained over suspected corruption since President Vladimir Putin took power in 2000 and his arrest sparked speculation over whether the probe is linked to an internal power struggle. Judge Artur Karpov told Moscow's Basmanny district court that the 6
  
  Read more

• UK house-building hits post-financial crisis high

  15-11-2016 18:28 via news.yahoo.com
  
  Britain built the largest number of new homes since the global financial crisis during the year to the end of March, annual figures showed on Tuesday, as the economy picked up and the government took steps to tackle Britain's housing shortage. The Federation of Master Builders, an industry body that represents smaller housebuilders, said construction levels still fell short of a government target for the industry to build a million new homes between 2015 and 2020. British builder Crest Nicholson
  
  Read more

• Obama praises Greece, raps EU austerity on final foreign trip

  15-11-2016 18:28 via news.yahoo.com
  
  By Jeff Mason ATHENS (Reuters) - U.S. President Barack Obama, on a visit to Greece, cautioned European leaders on Tuesday against relying only on austerity to tackle the debt woes of struggling economies and also urged greater solidarity with Athens on the migrant issue. On his last trip to Europe before handing over power to Donald Trump in January, Obama praised Greece's efforts to reform its economy and said the United States stood "shoulder to shoulder" with its NATO ally through the challen
  
  Read more

• Federal Reserve says will be more open about 'stress tests': GAO report

  15-11-2016 18:19 via news.yahoo.com
  
  The Federal Reserve will be more open with Wall Street about how it conducts its annual "stress tests" of the largest U.S. banks, the central bank said on Tuesday. The Fed made the promise at the conclusion of an independent, two-year study of how the central bank examines a few dozen of the largest firms on Wall Street. Specifically, the Fed promised to be more open about "the qualitative assessment process (and) detailing its reasons for decisions to object to specific firms' capital plans," t
  
  Read more

• Japan, Russia say on track to bolster ties despite minister's detention

  15-11-2016 18:17 via news.yahoo.com
  
  Japan and Russia said on Tuesday they would accelerate talks on economic cooperation ahead of Russian President Vladimir Putin's visit to Japan in December, despite the detention of Russia's economy minister. The minister, Alexei Ulyukayev, who denies extorting a $2 million bribe from oil giant Rosneft, had led the Kremlin's efforts to deepen cooperation with Tokyo. "We will speed up arrangements, so that more than 10 documents in such areas as customs, human exchange and medicine can be agreed
  
  Read more

• Ex-minister Macron to run for French presidency - source

  15-11-2016 18:07 via news.yahoo.com
  
  By Emmanuel Jarry PARIS (Reuters) - Former economy minister Emmanuel Macron will announce on Wednesday a run for the French presidency, a source close to him said, a long-awaited move that could disrupt other campaigns on both the left and the right. The 38-year-old former investment banker quit his job as economy minister earlier this year and has set up his own political movement called "En Marche" (Forward). "He has made up his mind and the decision was taken a long time ago," the source said
  
  Read more

• BRIEF-Cleop 9-month EBITDA up at 7.1 mln euros

  15-11-2016 18:05
  
  Nov 15 (Reuters) - Compania Levantina de Edificacion y Obras
  Publicas SA :
  
  Read more

• Russian Economy Minister Ulyukayev denies extorting $2 million bribe

  15-11-2016 18:04 via news.yahoo.com
  
  By Svetlana Reiter and Andrey Kuzmin MOSCOW (Reuters) - Russian Economy Minister Alexei Ulyukayev on Tuesday denied extorting a $2 million bribe after Rosneft, Russia's biggest oil company, helped authorities organize a sting on him in a case that could expose fault lines in Vladimir Putin's inner circle. Ulyukayev, a 60-year-old technocrat whose ministry oversees a politically-charged sale of state assets, is the highest-ranking Russian official to be detained while in office since the collapse
  
  Read more

• Russian PM says does not understand Ulyukayev case

  15-11-2016 17:41 via news.yahoo.com
  
  MOSCOW (Reuters) - Russian Prime Minister Dmitry Medvedev said on Tuesday he did not understand what had happened to Economy Minister Alexei Ulyukayev, who was detained overnight on bribery charges. Medvedev said he had discussed the case with President Vladimir Putin who he said had the same opinion. (Reporting by Jack Stubbs; writing by Maria Tsvetkova; editing by Jack Stubbs)
  
  Read more

• Russian Economy Minister put under house arrest for two months

  15-11-2016 17:40 via news.yahoo.com
  
  MOSCOW (Reuters) - A Russian court on Tuesday placed Economy Minister Alexei Ulyukayev under house arrest for two months until Jan. 15 after he was charged with extorting a $2 million bribe from Rosneft , Russia's biggest oil company. Ulyukayev denies soliciting a bribe. (Reporting by Svetlana Reiter; Writing by Jack Stubbs; Editing by Andrew Osborn)
  
  Read more

• S&P, Nasdaq rise as tech stocks back in favor

  15-11-2016 17:36 via news.yahoo.com
  
  The S&P 500 and the Nasdaq rose on Tuesday as tech stocks were back in demand after a post-election drubbing, while the Dow took a breather following a six-day rally. The S&P technology sector, which had fallen about 3 percent since Donald Trump's shock victory, rose 1.29 percent. Microsoft's 1.62 percent rise gave the biggest boost to the S&P and the Dow, followed by Amazon and Alphabet.
  
  Read more

• France's Macron to run for presidency: source

  15-11-2016 17:19 via news.yahoo.com
  
  PARIS (Reuters) - Emmanuel Macron will announce on Wednesday that he will run for the French presidency, a source close to the former economy minister said on Tuesday. "He has made up his mind and the decision was taken a long time ago," the source said, adding that Macron did not believe Socialist President Francois Hollande was well placed to vie for a second mandate. (Reporting by Emmanuel Jarry; writing by John Irish; Editing by Andrew Callus)
  
  Read more

• South Africa's rand, government bonds recover after sell-off

  15-11-2016 17:13 via news.yahoo.com
  
  The rand hit a session low of 14.5125/dollar on Monday, its weakest level since Sept. 13, according to Thomson Reuters data, tumbling alongside currencies in emerging market peers on growing bets that Trump will ramp up spending to boost growth in the world's largest economy. The dollar has strengthened as investors brace for stronger inflation in the United States amid expectations of expansionary fiscal polices under Trump's presidency.
  
  Read more

• TalkTalk sacrifices some earnings growth for customer loyalty

  15-11-2016 17:11 via news.yahoo.com
  
  By Paul Sandle LONDON (Reuters) - British broadband company TalkTalk said 300,000 of its customers had signed up to its new fixed-price contracts since they launched in October, improving levels of loyalty albeit with a cost in earnings growth this year. The company rebranded with the slogan "TalkTalk For Everyone" last month, seeking to re-establish itself as a trusted provider after its reputation was damaged by a high profile cyber attack a year ago. "We have relaunched the brand completely,"
  
  Read more

• Home Depot raises outlook as Americans spend on homes

  15-11-2016 16:56 via news.yahoo.com
  
  ATLANTA (AP) — Home Depot, benefiting from falling unemployment, still-low mortgage rates and rising home prices, raised its outlook for the year on Tuesday as sales surged in the third quarter and customers spent more with each visit.
  
  Read more

• Wildfire rebuilding to boost Alberta growth, jobs in 2017: report

  15-11-2016 16:45 via news.yahoo.com
  
  Rebuilding following wildfires in northern Alberta earlier this year will add 0.4 percent to economic growth in the Canadian province in 2017, creating jobs in a region already hurt by the oil price slump, according to a report released on Tuesday. A total of C$5.3 billion ($3.92 billion) will be put back into Alberta's economy over the next three years for clean-up and rebuilding around the Fort McMurray area, the Conference Board said. The Conference Board estimated that relief and rebuilding
  
  Read more

• Strong U.S. retail sales reinforce December interest rate hike

  15-11-2016 16:43 via news.yahoo.com
  
  U.S. retail sales rose more than expected in October as households bought motor vehicles and a range of other goods, pointing to sustained economic strength that could allow the Federal Reserve to raise interest rates next month. The Commerce Department said on Tuesday retail sales increased 0.8 percent last month, also boosted by demand for building materials likely as households cleaned up and made repairs in the wake of Hurricane Matthew. Adding to the report's strong tone, September retail s
  
  Read more

• Exclusive: Wells Fargo to unveil robo-adviser partnership with SigFig

  15-11-2016 16:36
  
  (Reuters) - Wells Fargo & Co is set to announce a partnership with SigFig for clients to use the robo-adviser's technology and wealth management investment tools.
  
  Read more

• Russian minister was detained at Rosneft offices: lawyer

  15-11-2016 16:24 via news.yahoo.com
  
  MOSCOW (Reuters) - Alexei Ulyukayev, the Russian economy minister charged with extorting a bribe from Russian oil company Rosneft , was detained at the firm's offices, Ulyukayev's lawyer Timofei Gridnev told Reuters. (Reporting by Svetlana Reiter and Andrei Kuzmin; Writing by Christian Lowe; Editing by Alexander Winning)
  
  Read more

• Germany at heart of more modest growth in the eurozone

  15-11-2016 16:19 via news.yahoo.com
  
  LONDON (AP) — The 19-country eurozone stumbled to another period of muted growth in the third quarter, as solid growth in countries at the heart of Europe's debt crisis over the past few years, such as Greece and Spain, wasn't enough to make up for a slowdown in economic heavyweight Germany.
  
  Read more

• US stocks rise as surging oil prices boosts energy companies

  15-11-2016 16:18 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks are opening mostly higher Tuesday as the price of oil jumps more than 3 percent and energy companies rise. The Commerce Department says retail sales climbed in October, a sign consumers continue to spend and a possible positive for economic growth. Bond yields slip after a weeklong surge following the presidential election.
  
  Read more

• Chinese e-commerce firm JD.com maintains revenue growth in third quarter

  15-11-2016 16:16 via news.yahoo.com
  
  JD.com Inc , China's second-largest e-commerce firm, said on Tuesday its third-quarter revenue grew 38 percent from a year ago, slightly ahead of analysts' expectations. The online shopping firm, whose shares have fallen 26.5 percent this year against a 10.5 percent rise for larger rival Alibaba Group Holding Ltd , also said it aims to restructure its finance unit and hold no equity stake. JD.com in August forecast third-quarter revenue of 59-61 billion yuan, amid concerns that China's online re
  
  Read more

• Obama says Greek economy needs space, debt relief for growth

  15-11-2016 16:08 via news.yahoo.com
  
  Greece's economy needs "space" to return to growth again, U.S. President Barack Obama said on Tuesday, adding he would urge the country's foreign creditors to take steps towards putting the country on path for a durable economic recovery. "We cannot simply look to austerity as a strategy," Obama said after meeting Prime Minister Alexis Tsipras. Obama, who is in Athens on Nov. 15-16 on his last foreign tour as president, said it was difficult to imagine a growth strategy without some debt relief.
  
  Read more

• S&P, Nasdaq higher as tech stocks recover; Dow pauses

  15-11-2016 16:07 via news.yahoo.com
  
  The S&P technology sector, which had fallen about 3 percent since the election, rose 1.07 percent. Microsoft's 1.31 percent rise gave the biggest boost to the S&P and the Dow, followed by Amazon and Apple. Both indexes had rallied in the past week since the shock victory of Donald Trump in the U.S. election on expectations of higher fiscal spending and lower regulations.
  
  Read more

• European equities drift higher

  15-11-2016 16:02 via news.yahoo.com
  
  Hong Kong (AFP) - Europe's main stock markets drifted higher on Tuesday as investors reacted to a surprise dip in British inflation and shrugged off slower-than-expected German economic growth.
  
  Read more

• S&P, Nasdaq higher at the open; Dow lower

  15-11-2016 15:55 via news.yahoo.com
  
  (Reuters) - The S&P 500 and the Nasdaq opened higher on Tuesday, helped by a rise in oil prices and a recovery in tech stocks, while the Dow Jones Industrial average was slightly lower after rising for six straight days. The Dow Jones industrial average fell 7.06 points, or 0.04 percent, to 18,861.63, the S&P 500 gained 5.03 points, or 0.23 percent, to 2,169.23 and the Nasdaq composite added 19.14 points, or 0.37 percent, to 5,237.54. (Reporting by Tanya Agrawal; Editing by Saumyadeb Cha
  
  Read more

• France's Hollande urges Trump to respect climate deal

  15-11-2016 15:35 via news.yahoo.com
  
  French President Francois Hollande said the United States should respect a global agreement to limit climate change after the election of Donald Trump as U.S. president, saying the deal was irreversible. Hollande told a U.N. conference on climate change in Marrakesh that the 2015 agreement to limit emissions "is irreversible in law and in fact. In addition it is irreversible in our minds." "The United States, the largest economic power in the world, the second largest greenhouse gas emitter, mus
  
  Read more

• Russian economy minister charged over '$2-mn bribe'

  15-11-2016 15:31 via news.yahoo.com
  
  Russia charged Economy Minister Alexei Ulyukayev on Tuesday over suspicions he pocketed a two-million-dollar payoff during a deal involving state-controlled oil giant Rosneft. Ulyukayev was the highest ranking official detained over suspected corruption since President Vladimir Putin took power in 2000 and vowed to clamp down on endemic graft. Russia's Investigative Committee said Ulyukayev had "illegally demanded" payment to give his go-ahead for Rosneft to acquire a majority stake from the sta
  
  Read more

Follow @FinanceUSA_News on Twitter!