Finance news

• Hanjin Shipping sells part of container ship business for $31 mln

  21-11-2016 23:44
  
  SEOUL, Nov 22 (Reuters) - South Korea's Hanjin Shipping Co
  Ltd said on Tuesday it decided to sell part of its
  container ship business to Korea Line Corp for 37
  billion Korean won ($31.38 million).
  
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• Wall Street rallies, 'political intrigue' boosts euro stocks

  21-11-2016 23:29 via news.yahoo.com
  
  Wall Street hit a trifecta of record finishes Monday on all the major stocks indices while the weekend's fast-paced "political intrigue" in Europe sent equities there higher as well. Rising oil prices saw energy stocks spike, helping push the major indices higher in New York. The tech-heavy Nasdaq gained 0.9 percent, the broad-based S&P 500 rose 0.8 percent and the Dow Jones Industrial Average of blue-chip stocks was up 0.5 percent.
  
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• Frances' Juppe sets battle lines with 'brutal' Fillon before primary runoff

  21-11-2016 23:20 via news.yahoo.com
  
  By John Irish PARIS (Reuters) - Former French prime minister Alain Juppe sought to regain momentum on Monday in the battle for the center-right's presidential nomination, accusing his rival Francois Fillon of pushing a "brutal" economic program that would break France. Fillon, prime minister between 2007 to 2012 under Nicolas Sarkozy, won 44 percent of votes in the first-round of the center-right's nomination race, some 15 percent more than Juppe, whom he now faces in the second-round runoff. A
  
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• Amazon explores live sports streaming: WSJ

  21-11-2016 22:31 via news.yahoo.com
  
  (Reuters) - Amazon.com Inc is exploring live sports streaming and has held talks with leagues including the National Basketball Association, Major League Baseball and the National Football League for live game rights, the Wall Street Journal reported, citing sources.
  
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• Oil rally propels Wall Street to record

  21-11-2016 22:21 via news.yahoo.com
  
  Comments by Russian President Vladimir Putin that raised expectations major oil producing countries could reach a deal to limit output at a meeting next week also spurred the jump in oil prices. "The post-election rally is continuing," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.
  
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• Tyson Foods shares dive on CEO departure, dim 2017 forecast

  21-11-2016 21:41 via news.yahoo.com
  
  Smith's departure surprised some on Wall Street, who regard him as the company's most successful CEO. Shares of Tyson have more than quadrupled since Smith became CEO seven years ago. "It has been the best period of Tyson's history, without doubt," said Ramey, adding that it is unusual for a company to part with its best CEO.
  
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• Citi and JPMorgan top list of globally systemic banks

  21-11-2016 21:09
  
  LONDON (Reuters) - Citi has joined JPMorgan at the top of global regulators' list of systemically important banks, replacing HSBC and meaning the U.S. bank will have to hold extra capital from 2019...
  
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• Wall Street at record highs as tech, energy stocks rally

  21-11-2016 21:00 via news.yahoo.com
  
  NEW YORK (Reuters) - All three major U.S. stock indexes were on track to hit closing records on Monday, helped by gains in energy and other commodity-related shares and as Facebook led a jump in technology.
  
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• Japan boosts ties with Argentina

  21-11-2016 20:34 via news.yahoo.com
  
  Japan's Prime Minister Shinzo Abe vowed to boost trade and investment with Argentina during a state visit Monday to the country with Latin America's third-biggest economy. Argentina currently lags behind its neighbors Brazil and Chile in doing business with the Asian giant, but Japan says it wants to boost economic ties a year after a new conservative government took power in Buenos Aires. "We have agreed to strengthen bilateral ties," Abe told reporters after meeting with Argentine President Ma
  
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• New York's Big Apple Circus files for bankruptcy

  21-11-2016 20:12
  
  NEW YORK, Nov 21 (Reuters) - Big Apple Circus, a New York
  City mainstay that entertained children of all ages for nearly
  four decades, filed for bankruptcy after several years of
  declining interest,...
  
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• Who’s Being Left Behind by the Stock Market’s Trump Trade?

  21-11-2016 19:58 via news.yahoo.com
  
  On the surface, stocks can hardly contain their excitement in the wake of Donald Trump's surprise electoral victory. The Dow Jones Industrial Average and the Russell 2000 small-cap index have both gone vertical, enthused by the promise of Trump's aggressive fiscal stimulus plans, including deep tax cuts, boosted defense spending and pro-business initiatives such as a possible repatriation holiday to encourage the re-shoring of foreign earnings.
  
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• Oil rally helps lifts world equities; Wall Street at record

  21-11-2016 19:58 via news.yahoo.com
  
  The gains were also helped by comments by Russian President Vladimir Putin that raised expectations major oil producing countries could reach a deal to limit output at a meeting next week. Among U.S. equities, the S&P energy index gained 2.1 percent as the top-performing sector, helping to push the benchmark S&P 500 index above its intraday record of 2,193,81 set on Aug. 15.
  
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• Oil rally helps lifts equities; Wall Street at record

  21-11-2016 19:55 via news.yahoo.com
  
  The gains were also helped by comments by Russian President Vladimir Putin that raised expectations major oil producing countries could reach a deal to limit output at a meeting next week. Among U.S. equities, the S&P energy index gained 2.1 percent as the top-performing sector, helping to push the benchmark S&P 500 index above its intraday record of 2,193,81 set on Aug. 15.
  
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• Ex-consultant to Iran's U.N. mission pleads guilty to U.S. charges

  21-11-2016 19:54 via news.yahoo.com
  
  A former consultant to Iran's mission to the United Nations pleaded guilty on Monday to charges that he filed a false tax return substantially understating how much he was paid and conspired to violating a U.S. sanctions law. Ahmad Sheikhzadeh, 60, entered his plea in federal court in Brooklyn to charges that he conspired to violate the International Emergency Economic Powers Act and aided in the preparation of false individual income tax returns. As part of a plea deal, Sheikhzadeh agreed to no
  
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• Greece sticks with high growth target in 2017 budget

  21-11-2016 19:20 via news.yahoo.com
  
  ATHENS, Greece (AP) — The Greek government says the country's economy is set to grow a decade-high rate of 2.7 percent next year despite maintaining high taxes linked to international bailout agreements.
  
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• Parents of children with cancer see income dips and loss of employment

  21-11-2016 19:14 via news.yahoo.com
  
  By Kathryn Doyle (Reuters Health) – - Even accounting for social and economic status, having a child with cancer is tied to income reductions for parents and job discontinuation for mothers, according to a new study. “A child’s cancer diagnosis is a source of parental distress and results in an altered life situation for the family,” said senior author Emma Hoven of the Karolinska Institute in Stockholm, Sweden. “Parents may take time off work, reduce working hours,
  
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• Nigerian recession deepens in Q3, oil output falls

  21-11-2016 19:05 via news.yahoo.com
  
  By Alexis Akwagyiram and Chijioke Ohuocha LAGOS (Reuters) - Nigeria's recession deepened in the third quarter and oil production fell, the National Bureau of Statistics (NBS) said on Monday, as a dollar shortage kept Africa's biggest economy in a stranglehold. FARM GROWTH NBS said the non-oil part of the economy grew by 0.03 percent in the third quarter, compared with negative growth in the first two, which was "largely driven" by 4.54 percent growth in the farming sector.
  
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• Why Trump May Leave the Federal Reserve Alone – for Now

  21-11-2016 19:03 via news.yahoo.com
  
  During his run for the presidency, Donald Trump made the Federal Reserve a frequent target of his criticism, suggesting that the independent central bank was keeping interest rates low only as a political gesture to President Barack Obama. Trump declared that the stock market was in an over-inflated “bubble” driven by Fed policies, and said Fed Chair Janet Yellen’s decisions have been “political” and not based on good policy. The overt politicization of the country&
  
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• South Africa's rand rallies as risk demand recovers, stocks flat

  21-11-2016 19:03 via news.yahoo.com
  
  South Africa's rand rallied nearly 2 percent on Monday as the emerging market selloff triggered by U.S. President-elect Donald Trump's unexpected victory continued to fade. By 1540 GMT the rand had gained 1.66 percent to 14.2300 per dollar following a close at 14.4700 in New York on Friday. The rand, along with other emerging market currencies, rallied as the dollar stepped back from the previous week's run to 14-year highs on bets that Trump would unleash a large fiscal stimulus package to revi
  
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• Banco do Brasil downsizes to bolster returns, pivots to digital

  21-11-2016 19:03
  
  SAO PAULO (Reuters) - Banco do Brasil SAplans to save up to 3.1 billion reais ($900 million) in coming years by shedding up to 18,000 jobs and shutting hundreds of branches, the latest step by...
  
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• Wall Street at record highs as techs, energy stocks rally

  21-11-2016 19:01 via news.yahoo.com
  
  (Reuters) - The Dow, S&P 500 and the Nasdaq hit record intraday highs on Monday as Apple and Facebook propelled technology shares and oil prices boosted energy stocks.
  
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• Goldman Sachs drops out of R3 research consortium but will not abandon blockchain

  21-11-2016 18:47 via news.yahoo.com
  
  Global finance and investment firm Goldman Sachs has reportedly dropped out of the R3 blockchain consortium after choosing not to renew its membership on 31 October. The firm was one of the founding members of R3 – a distributed ledger technology (DLT) venture that leads a group of over 70 major financial institutions in conducting research and development into how blockchain can be used to advance traditional banking. Goldman Sachs will continue to work with and develop its own DLT techno
  
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• Ex-S&P executive goes on trial before SEC over mortgage bond ratings

  21-11-2016 18:23 via news.yahoo.com
  
  The U.S. Securities and Exchange Commission on Monday took a former Standard & Poor's executive to trial over claims that she engaged in a fraud that inflated ratings of commercial mortgage-backed securities. At the start of an administrative trial in Manhattan, SEC lawyer Stephen McKenna said Barbara Duka, the former head of S&P's commercial mortgage-backed securities group, failed to disclose to investors a change she made in 2011 in how her team calculated ratings.
  
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• Q&A: Life lessons from the luxury-brand world

  21-11-2016 18:07
  
  NEW YORK (REUTERS) - When one of your first jobs involves filing insurance paperwork for pocket change at your dad's office, it's easy to see how you would yearn later on for something more glamorous.
  
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• Anthem argues that Fortune 500 won't suffer from Cigna deal

  21-11-2016 17:56
  
  WASHINGTON (Reuters) - Anthem Incand the U.S. Justice Department dug in their heels on Monday in court over whether the lower prices the health insurer expects to negotiate after buying smaller...
  
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• 'Political intrigue' animates European markets

  21-11-2016 17:54 via news.yahoo.com
  
  A fast-moving weekend of "political intrigue" in France and Germany boosted the euro and helped push European stocks higher, dealers said. German Chancellor Angela Merkel declared Sunday that she would seek a fourth term in elections next year in the face of looming threats at home and abroad, ending months of feverish speculation. "An empty economic calendar allowed some eurozone political intrigue to grip the markets this Monday, the region finally (if briefly) taking its turn in the spotlight
  
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• Canada to phase out coal power by 2030: official

  21-11-2016 17:54 via news.yahoo.com
  
  Canada will shutter its coal-fired power plants by 2030 as part of its strategy to cut greenhouse gas emission under the Paris climate accord, Environment Minister Catherine McKenna announced Monday. The plants, located in four provinces, produce about 10 percent of Canada's total CO2 emissions, and closing them will remove the equivalent in emissions of 1.3 million cars from roads, or five megatons of greenhouse gas emissions, she told a press conference. "As part of our government's vision for
  
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• What’s Your Stock Market IQ? Take This Test

  21-11-2016 17:45 via news.yahoo.com
  
  Watch the video of ‘What’s Your Stock Market IQ? Stock market investing can play a crucial role in life, especially if you’ll be depending on savings to keep you afloat during your retirement years. The longer we live, the more money we’re going to need, and stocks, while risky, can provide better returns than other types of investments.
  
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• S&P, Dow eye record; techs boost Nasdaq to all-time high

  21-11-2016 17:42 via news.yahoo.com
  
  The three major indexes have rallied since the U.S. election as investors bet Donald Trump's policies would be market friendly. The Dow hit a record intraday high last week. The energy sector dominated the gainers among the 11 major S&P sectors, rising 2.2 percent.
  
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• Liz Weston: President-elect Trump, save the CFPB

  21-11-2016 17:42 via news.yahoo.com
  
  Editor's Note: This is a weekly personal-finance column provided by the website NerdWallet and distributed by The Associated Press. The opinions contained are those of the columnist alone. ______ Ten years ...
  
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• BRIEF-Worthington says High Court ordered company to wind up

  21-11-2016 17:38
  
  * Says pension protection fund decided to reject principal
  terms of Worthington's proposed company voluntary arrangement
  
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• Russian tycoon could take control of Turkcell: source

  21-11-2016 16:45
  
  ISTANBUL (Reuters) - Russian billionaire Mikhail Fridman could take control of Turkcellafter fellow shareholder Cukurova failed to declare an intent to buy a disputed 13.2 percent stake by a court...
  
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• Fed's Fischer says govt spending can boost productivity

  21-11-2016 16:13 via news.yahoo.com
  
  Properly directed government spending -- including infrastructure spending as President-elect Donald Trump has promised -- can boost the economy's productive capacity, Federal Reserve Vice Chair Stanley Fischer said Monday. Although details remain unclear, Trump's economic plan includes the pledge for a massive infrastructure spending program, which he has said will create jobs. Like Fed Chair Janet Yellen in her testimony in Congress last week, Fischer said fiscal policies that improve producti
  
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• Puerto Rico governor defies new federal control board

  21-11-2016 16:12 via news.yahoo.com
  
  SAN JUAN, Puerto Rico (AP) — Puerto Rico's governor is already challenging a federal control board just created to oversee the finances of the U.S. territory and help pull it out of an economic crisis.
  
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• LSE Group to buy data firm Mergent

  21-11-2016 16:09
  
  (Reuters) - London Stock Exchange Group Plc , which is set to merge with rival Deutsche Boerseto create a giant European trading house, agreed on Monday to buy financial information provider...
  
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• Iran's Guards using Trump victory to claw back power

  21-11-2016 16:07 via news.yahoo.com
  
  By Parisa Hafezi ANKARA (Reuters) - Donald Trump's victory and the war on Islamic State have given Iran's hard-line Islamic Revolutionary Guard Corps what it sees as a unique opportunity to claw back economic and political power it had lost. Sidelined after a nuclear deal was reached with Iranian reformist leaders and the administration of President Barack Obama and major nations, the IRGC is determined to regain its position in Shi'ite Iran's complex governing structure. Republican Trump said i
  
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• Nasdaq hits record high as Wall Street rises with oil prices

  21-11-2016 16:01 via news.yahoo.com
  
  Wall Street rose on Monday morning, with the Nasdaq hitting a record intraday high, helped by a jump in technology shares and as higher oil prices boosted energy stocks. The three indexes have rallied since the U.S. election as investors bet Donald Trump's policies would be market friendly. Oil prices jumped 3.2 percent to a near three-week high of $48.30 per barrel amid hopes of the OPEC reaching an agreement to cut output.
  
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• BSE launches AI mechanism to track news related to listed companies

  21-11-2016 15:48 via news.yahoo.com
  
  Mumbai, Nov 21 (IANS) Stock market major BSE on Monday said it has launched an artificial intelligence mechanism to track "news related to listed companies" on digital media. According to BSE, the artificial intelligence mechanism based on a systemic solution has been envisaged to deepen its regulatory oversight on newer channels of communication. "The primary objective of verification is that the mechanism will detect and mitigate potential risks of market manipulation, rumour, and reduce infor
  
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• 'Political intrigue' buoys European markets

  21-11-2016 15:46 via news.yahoo.com
  
  European stock markets and the euro climbed Monday after a fast-moving weekend of "political intrigue" in France and Germany, dealers said. German Chancellor Angela Merkel declared Sunday that she would seek a fourth term in elections next year in the face of looming threats at home and abroad, ending months of feverish speculation. "An empty economic calendar allowed some eurozone political intrigue to grip the markets this Monday, the region finally (if briefly) taking its turn in the spotligh
  
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• Hedge funds slow to adjust champagne tastes to beer budgets

  21-11-2016 15:28
  
  NEW YORK (Reuters) - Hedge funds have struggled of late to keep up their reputation as the sports cars of the investment world, often overtaken in the race for returns by the public buses of...
  
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• U.S. fears over sensitive compound hits Chinese bid for Aixtron

  21-11-2016 15:26
  
  FRANKFURT/BERLIN (Reuters) - Concerns over China gaining access to the secrets of producing a little known material used in military equipment appear to be behind the U.S. block on a 670 million-euro...
  
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• Opera CEO says no longer aiming for acquisitions or divestment

  21-11-2016 15:16
  
  OSLO (Reuters) - Norway's Opera Softwareno longer plans to buy or sell companies and will instead stay focused on developing its mobile advertising units after the recent divestment of a key...
  
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• Oracle to buy internet infrastructure provider Dyn

  21-11-2016 15:13
  
  (Reuters) - Business software maker Oracle Corp said on Monday it would buy Dyn, a monitor of global internet performance and traffic, to allow cloud customers to optimize their infrastructure costs...
  
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• Mozambique's economic growth ticks up to 3.7 percent in Q3: stats agency

  21-11-2016 15:11 via news.yahoo.com
  
  MAPUTO (Reuters) - Mozambique's economic growth quickened to 3.7 percent in the third quarter of 2016 compared to a revised 3.4 percent in the second quarter, the National Statistics Institute said on Monday. The southern African nation's economy is in the midst of a crisis after the International Monetary Fund (IMF) and other global lenders cancelled funding after the emergence of more than $2 billion in loans that were not approved by parliament. (Writing by Mfuneko Toyana; Editing by Ed Stodd
  
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• Nigeria considers foreign exchange reforms as dollar shortages bite

  21-11-2016 15:05 via news.yahoo.com
  
  By Chijioke Ohuocha and Oludare Mayowa LAGOS (Reuters) - Nigeria is considering amendments to its foreign exchange laws to curb illegal fund transfers and insider dealing and stop individuals holding hard currency outside the banking system, a draft bill seen by Reuters on Monday showed. Africa's largest economy is facing chronic dollar shortages caused by a slump in sales of and prices for crude oil, its mainstay, which has slashed government revenues, weakened the naira currency, stoked inflat
  
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• Factbox: Hammond readies budget booster for UK economy, shock therapy unlikely

  21-11-2016 15:02 via news.yahoo.com
  
  By Andy Bruce LONDON (Reuters) - British finance minister Philip Hammond looks unlikely to spend big when he announces the country's first budget plan since the Brexit vote on Wednesday, but he will probably take steps to help business and consumers through a slowdown next year. The independent Office for Budget Responsibility looks set to paint a much worse picture for the economy between now and the end of the decade as it leaves the European Union.
  
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• Nigerian power problems old and new frustrate Buhari's economy push

  21-11-2016 15:01 via news.yahoo.com
  
  By Alexis Akwagyiram and Libby George LAGOS/LONDON (Reuters) - Nigeria's biggest power station shows the huge problems that President Muhammadu Buhari must overcome if he is to fulfil his promise to tackle chronic electricity shortages and reform an economy in recession. Buhari won last year's presidential election with pledges to increase power capacity exponentially during his four-year term and meet the demands of Nigeria's 180 million people entirely within a decade. Buhari wants to diversif
  
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• Wall Street set to open higher, boosted by oil prices

  21-11-2016 14:58 via news.yahoo.com
  
  Wall Street looked set to open higher on Monday, with the three major indexes hovering near record levels, supported by higher oil prices and the lingering effects of the post-election rally. Oil prices rose about 2.8 percent to a near three-week high of $47.87 per barrel amid hopes of the OPEC reaching an agreement to cut output. The three major U.S. indexes are near record highs, rallying since the U.S. election as investors bet President-elect Donald Trump's policies would be market friendly.
  
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• French frontrunner could prove difficult partner for Merkel

  21-11-2016 14:58 via news.yahoo.com
  
  By Noah Barkin BERLIN (Reuters) - In 2007, on his first visit to Berlin as French prime minister, Francois Fillon gave Angela Merkel an antique edition of "Radioactivity", a work by one of her heroes, fellow physicist Marie Curie. The book, now prominently displayed in the Chancellery in Berlin, is a symbol of Franco-German friendship and a reminder that Fillon, favorite to win the French presidency after his resounding victory in the first round of the Republican primary on Sunday, is a known q
  
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• Oil climbs to three-week high as dollar, yields dip

  21-11-2016 14:39 via news.yahoo.com
  
  By Nigel Stephenson LONDON (Reuters) - Oil prices rose to three-week highs on Monday, supported by a weak dollar and helping to nudge a gauge of inflation expectations in the euro zone to its highest since January. Oil and gas and other commodity-related shares rose, lifting European stock markets after slight falls in Asia. Brent crude oil, the international benchmark, rose as high as $47.94 a barrel , its highest since Nov. 1 and up some 2 percent on the day, on signs that OPEC was moving clos
  
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