Finance news

• C$ notches a six-week high on jobs gain, oil rally

  02-12-2016 23:31 via news.yahoo.com
  
  By Fergal Smith TORONTO (Reuters) - The Canadian dollar notched a six-week high against its U.S. counterpart on Friday as domestic jobs rose for the fourth straight month and oil climbed, sustaining strength since OPEC's decision midweek to cut crude output. "Everything went well for the Canadian dollar this week," said Adam Button, currency analyst at ForexLive, including an agreement by the Organization of the Petroleum Exporting Countries to cut output, as well as stronger-than-expected gross
  
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• DoubleLine Total Return posts 3rd largest outflow since 2013 in Nov

  02-12-2016 23:28
  
  NEW YORK (Reuters) - The DoubleLine Total Return Bond Fund had net outflows of $1.4 billion in November, the third-largest cash withdrawals since the "taper-tantrum" months of 2013, while flows...
  
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• Exclusive: U.S. networking company Ixia explores sale - sources

  02-12-2016 23:16
  
  (Reuters) - Ixia, a U.S. provider of equipment and applications that help maintain computer networks, is exploring a potential sale, people familiar with the matter said on Friday.
  
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• BRIEF-Rubicon Minerals announces creditor approval of restructuring plan

  02-12-2016 23:02
  
  * Rubicon Minerals announces creditor approval of
  restructuring plan
  
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• Wall Street Week Ahead - Small banks rally pauses but may not be over yet

  02-12-2016 22:41 via news.yahoo.com
  
  By Sinead Carew and Chuck Mikolajczak NEW YORK (Reuters) - The rally in regional U.S. bank stocks that followed last month's election of Donald Trump may not be over, but investors may have to wait for policy to take shape for the massive move to extend further. The S&P 600 index of small-cap banks has surged more than 20 percent since Trump's surprise Nov. 8 victory, while their large-cap peers on the S&P 500 index have jumped over 17 percent. Smaller lenders could potentially add as mu
  
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• UPDATE 1-Ferrovial in talks to acquire Isolux projects in Brazil -document

  02-12-2016 22:16
  
  SAO PAULO, Dec 2 (Reuters) - Spain's infrastructure company
  Ferrovial SA is in talks to acquire from its Spanish
  rival Grupo Isolux Corsan SAthree power
  transmission projects in Brazil, according...
  
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• Wall Street little changed as bank rally pauses

  02-12-2016 22:13 via news.yahoo.com
  
  A U.S. Labor Department report showed employers in private and public sectors hired more people last month than economists had expected, further strengthening expectations of a hike when the U.S. central bank meets Dec. 13 and 14. "If it is in the high one hundred (thousands) on payrolls then everybody is pretty much just yawning at it," said Jeff Weniger, senior strategist at BMO Private Bank in Chicago.
  
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• Jobs report shows Trump to inherit solid but uneven economy

  02-12-2016 21:25 via news.yahoo.com
  
  The U.S. jobs report on Friday made one thing clear: President-elect Donald Trump will inherit the same two-track U.S. economy that bedeviled his predecessor. Hiring is solid and the unemployment rate ...
  
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• Ferrovial in talks to acquire Isolux projects in Brazil -document

  02-12-2016 20:51
  
  SAO PAULO, Dec 2 (Reuters) - Spain's infrastructure company
  Ferrovial SA is in talks to acquire from its Spanish
  rival Grupo Isolux Corsan SAthree power
  transmission projects in Brazil, according...
  
  Read more

• Here Are the CEOS and Wall Street Titans Trump Will Turn to for Advice

  02-12-2016 20:48 via news.yahoo.com
  
  As President-elect Donald Trump looks to “Make America Great Again,” he’ll be relying on advice from a who’s who of Wall Street titans and corporate executives, including his picks for Treasury and Commerce secretaries, Steve Mnuchin and Wilbur Ross. “My administration is committed to drawing on private sector expertise and cutting the government red tape that is holding back our businesses from hiring, innovating, and expanding right here in America,” Trump s
  
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• UPDATE 1-Brazil's Oi hints at outright debt-stock swap, sources say

  02-12-2016 20:44
  
  SAO PAULO, Dec 2 (Reuters) - Oi SA could scrap a proposed
  three-year restriction on creditors swapping part of their debt
  for equity, in a sign that Brazil's No. 4 wireless carrier wants
  to lure...
  
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• Wall Street edges lower as banks lose steam

  02-12-2016 20:41 via news.yahoo.com
  
  (Reuters) - U.S. stocks edged lower on Friday after a payrolls report did little to alter expectations for an interest rate hike from the Federal Reserve this month and bank stocks cooled for a second straight session.
  
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• 'No drama Adama' Barrow seeks to end Gambia's erratic Jammeh era

  02-12-2016 20:39 via news.yahoo.com
  
  By Edward McAllister and Joe Bavier DAKAR (Reuters) - A decade and a half ago, Adama Barrow was working 15-hour shifts as a security guard at retailer Argos in north London, harboring dreams of making his mark as a real estate developer. On Friday, he was declared president-elect of his homeland, the tiny riverside West African nation of Gambia, ending over two decades of rule by Yahya Jammeh, a feared authoritarian who once said he would rule for "a billion years". Gambians are now looking to t
  
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• Brazil's Oi signals outright debt-to-equity swap to creditors -sources

  02-12-2016 20:18
  
  SAO PAULO, Dec 2 (Reuters) - Oi SA could scrap a proposed
  three-year restriction on creditors swapping part of their debt
  for equity, in a sign that Brazil's No. 4 wireless carrier wants
  to lure...
  
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• UPDATE 1-Becton Dickinson wins reversal of $340 mln syringe award

  02-12-2016 20:16
  
  Dec 2 (Reuters) - A federal appeals court on Friday threw
  out an antitrust verdict that ordered medical device maker
  Becton Dickinson and Co to pay rival Retractable
  Technologies Inc $340 million in...
  
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• Fed's Tarullo warns against 'backsliding' on bank regulations

  02-12-2016 19:46 via news.yahoo.com
  
  U.S. banking regulators must defend tough rules governing Wall Street and resist efforts to dilute regulations that might prevent a future financial crisis, Federal Reserve Governor Daniel Tarullo said on Friday. "It is critical that we not forget our still quite recent history," Tarullo told a meeting of financial market researchers in Washington, referring to the 2008 housing bust that pushed global financial markets to near-collapse.
  
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• DP World, Quebec's Caisse to create C$5 billion investment vehicle

  02-12-2016 19:18
  
  (Reuters) - Dubai-based ports operator DP World Ltdsaid it had partnered with Caisse de depot et placement du Quebec, Canada's second-biggest public pension fund, to create a C$5 billion ($3.76...
  
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• Trump's dilemma: slower job growth or rising rates and inflation?

  02-12-2016 19:14 via news.yahoo.com
  
  A drop in the U.S. unemployment rate last month to a 9-year low signals the risk of a collision between President-elect Donald Trump's plans to goose the economy and the Federal Reserve's efforts to tap the brakes with higher interest rates. Since Trump's election, officials at the U.S. central bank have cautiously introduced the possibility that his spending and tax cut plans could prompt a faster pace of rate increases than the two hikes currently foreseen in 2017. With November's decline, the
  
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• S.Africa dodges junk credit rating despite low growth

  02-12-2016 19:11 via news.yahoo.com
  
  South Africa's economy evaded a potentially damaging blow Friday when the Standard & Poor's rating agency maintained the country's foreign currency debt status one notch above junk status. S&P however kept its negative outlook for South Africa, which has struggled with political friction under President Jacob Zuma, high unemployment and slow growth. "Political events have distracted from growth-enhancing reforms, while low GDP growth continues to affect South Africa's economic and fiscal
  
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• S&P, Nasdaq set to snap two-day losing streak

  02-12-2016 19:05 via news.yahoo.com
  
  Major Wall Street indexes have hit a series of record highs over the past three weeks, sparked by Donald Trump's victory in the U.S. presidential election as investors bet that his policies would be market friendly. The S&P 500 financial index has risen 13 percent since the Nov. 8 vote, while industrials rose 7.5 percent. Health stocks, which surged in the days following the vote, have since shed most of their gains.
  
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• Trump forms an advisory group of CEOs for input on jobs

  02-12-2016 19:02 via news.yahoo.com
  
  President-elect Donald Trump has formed an advisory group of more than a dozen CEOs and business leaders to offer input on how to create jobs and speed economic growth. The President's Strategic and Policy ...
  
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• EXCLUSIVE - Trump financier Ladder Capital explores sale - sources

  02-12-2016 19:00 via news.yahoo.com
  
  By Carl O'Donnell (Reuters) - Ladder Capital Corp, a real estate investment trust which has bankrolled much of U.S. President-elect Donald Trump's property development, is exploring the possibility of a sale, according to people familiar with the matter. The move comes as Ladder grapples with new regulations making selling on mortgages more difficult. Founded in 2008, it has been one of the key lenders that Trump has turned to after his relations with major Wall Street banks soured following som
  
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• Fibre upgrade cost traps Britain in cyber slow lane

  02-12-2016 18:57 via news.yahoo.com
  
  In a bid to boost Britain's economy through Brexit, Prime Minister Theresa May's government has said it wants to address business concerns and replace an ageing copper network with the "gold standard" common across Asia and parts of Europe. Pressure has been building on BT and its Openreach division for years, led by rivals TalkTalk, Sky and Vodafone, who rely on the network, and by a group of politicians who believe it is failing consumers and businesses. Rivals blame BT, saying Openreach's cas
  
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• Fiber upgrade cost traps Britain in cyber slow lane

  02-12-2016 18:54 via news.yahoo.com
  
  In a bid to boost Britain's economy through Brexit, Prime Minister Theresa May's government has said it wants to address business concerns and replace an aging copper network with the "gold standard" common across Asia and parts of Europe. Pressure has been building on BT and its Openreach division for years, led by rivals TalkTalk, Sky and Vodafone, who rely on the network, and by a group of politicians who believe it is failing consumers and businesses. Rivals blame BT, saying Openreach's cash
  
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• U.S. regulator clears way for online lenders to have national charter

  02-12-2016 18:43 via news.yahoo.com
  
  By Patrick Rucker and Anna Irrera WASHINGTON (Reuters) - Online credit companies and paperless lenders would be able to get federal charters to do their business nationwide under a plan outlined on Friday by a U.S. banking regulator. The Office of the Comptroller of the Currency (OCC), the main regulator for federal banks, said it hoped offering a charter for "fintech" companies would spur innovation in the banking sector. "Technology-based products and services are the future of banking and the
  
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• Britain's FTSE slips lower ahead of Italian referendum

  02-12-2016 18:36
  
  * Berkeley helps property stocks(Updates throughout with close)
  
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• Canada adds jobs in November, but weakness persists

  02-12-2016 18:16 via news.yahoo.com
  
  By David Ljunggren OTTAWA (Reuters) - The Canadian economy added 10,700 jobs in November and the jobless rate fell to 6.8 percent, but the strength was undermined by signs of deterioration in job quality and in Canada's long-suffering resource sector. The rise in employment bucked analysts' forecasts for a loss of 20,000 jobs after two months of growth and reinforced expectations that the Bank of Canada will keep interest rates unchanged next week and for all of 2017. Canada's economic recovery
  
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• U.S. payrolls rise solidly; jobless rate falls to nine-year low

  02-12-2016 18:13 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - U.S. employers boosted hiring in November and the unemployment rate dropped to a more than nine-year low of 4.6 percent, making it almost certain that the Federal Reserve will raise interest rates later this month. The solid employment gains likely reflect growing confidence in the economy, which has been marked by rising consumer spending and inflation. The unemployment rate fell three-tenths of a percentage point last month, hitting its lowest level sin
  
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• Venezuela fury at Mercosur suspension

  02-12-2016 17:52 via news.yahoo.com
  
  Venezuela on Friday angrily rejected its suspension from the South American economic bloc Mercosur, the harshest international punishment yet for President Nicolas Maduro's crisis-racked government. Argentina, Brazil, Paraguay and Uruguay have informed the leftist government in Caracas that it is being suspended for failing to meet democratic and trade standards, a Brazilian government source said Thursday. "Venezuela does not recognize this null and void action sustained by the law of the jungl
  
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• BRIEF-Monte dei Paschi shares close down 5.4 pct

  02-12-2016 17:41
  
  * Shares in the troubled bank close down 5.4 percentFurther company coverage:
  (Reporting by Milan newsroom)
  
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• Actelion's silence has hedge funds betting big on J&J deal

  02-12-2016 17:36
  
  ZURICH (Reuters) - Actelion's silence speaks volumes to the dozens of event-driven hedge funds piling into the Swiss biotech firm, betting that Johnson & Johnson's (J&J)approach will result in an...
  
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• Lufthansa hits out after new Frankfurt airport fees approved

  02-12-2016 17:02 via news.yahoo.com
  
  The German state of Hesse has approved an amended fee proposal for Frankfurt airport for 2017, allowing operator Fraport to increase fees but angering the airport's main customer Lufthansa . Irish budget carrier Ryanair announced last month plans to start flying from Frankfurt airport next year, prompting calls from Lufthansa for airport operator Fraport to lower fees for all carriers. The Hesse economy and transport ministry said in a statement on Friday that one aspect of the new structure awa
  
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• BUZZ-Ambarella Inc: Biggest pct loss in more than 8 months

  02-12-2016 16:50
  
  ** Video processing chip maker's shares down as
  much as 9.53 pct at $55.5; biggest intraday pct loss in more
  than 8 months
  
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• S&P, Nasdaq rise after two days of losses; Dow slips

  02-12-2016 16:09 via news.yahoo.com
  
  The S&P 500 and the Nasdaq rose in morning trade on Friday, lifted by gains in consumer staples and utility stocks, while the Dow was weighed down by declines in bank shares. Industrial and banks stocks have been the biggest gainers of a post-election rally as investors expect these sectors to benefit the most from President-elect Donald Trump's policies. Since Nov. 8, the S&P 500 utilities index and the consumer staples index have been the worst performers, falling over 4.5 percent.
  
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• EU may fill 'void' in global trade left by U.S. under Trump: Malmstrom

  02-12-2016 16:00 via news.yahoo.com
  
  By Marcin Goettig WARSAW (Reuters) - The European Union might fill a void in global trade left by the United States if the world's biggest economy becomes more inward-looking with Donald Trump as president, EU Trade Commissioner Cecilia Malmstrom said on Friday. Trump won the election campaigning on a protectionist policy stance that has raised concerns among some economists that global trade could suffer during his four-year term that begins in January. "Now it is possible that the United State
  
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• Canada adds jobs in November, central bank not seen changing rates

  02-12-2016 15:46 via news.yahoo.com
  
  By David Ljunggren OTTAWA (Reuters) - The Canadian economy added 10,700 jobs in November and the jobless rate fell to 6.8 percent, a performance analysts said was strong enough to ensure the Bank of Canada would keep interest rates unchanged next week. Statistics Canada said on Friday that for the second month in a row, all the gains were in part-time positions, and noted the jobless rate fell because fewer people were seeking work. Analysts in a Reuters poll had predicted a loss of 20,000 jobs
  
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• Traders keep bets on Fed rate hike later this month

  02-12-2016 15:30 via news.yahoo.com
  
  Chances of a rate hike at the Fed's Dec. 13-14 meeting were pegged at 95 percent after the report, based on CME's FedWatch page. Before the release, which also showed a solid 178,000 jobs gained last month, traders saw about a 93 percent chance of a December rate hike, and were betting on at least one more rate hike in 2017. Fed officials largely believe that a 4.6 percent unemployment rate is lower than the U.S. economy can sustain for any length of time without creating upward and potentially
  
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• Nigeria plans over 7 trln naira budget for 2017: vice president

  02-12-2016 15:02 via news.yahoo.com
  
  By Camillus Eboh ABUJA (Reuters) - Nigeria is planning a budget of more than 7 trillion naira ($22.2 billion) next year, Vice President Yemi Osinbajo said, to boost spending and help pull the economy out of its worst crisis in more than two decades. "Our entire budget for 2016 is ... just over 6 trillion naira. Nigeria is in its deepest recession in 25 years and needs to find money to make up for a shortfall in its budget this year.
  
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• Italian vote weighs on markets despite upbeat US jobs data

  02-12-2016 14:57 via news.yahoo.com
  
  More solid U.S. jobs data on Friday did little to alter the cautious mood in global stock markets as investors braced for Italy's referendum on constitutional reform over the weekend and as the oil price's ...
  
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• Global stocks, dollar ease as Fed rate hike, Italy vote loom

  02-12-2016 14:54 via news.yahoo.com
  
  By Vikram Subhedar LONDON (Reuters) - Global stocks, oil and the dollar eased on Friday as investors took a cautious stance before Italy's referendum on constitutional reform on Sunday, while a strong jobs report from the U.S. cemented the case for a Federal Reserve rate increase. The upbeat employment report follows a strong set of economic data from the United States, including manufacturing activity and construction spending, and strengthens the view that the Fed will tighten monetary policy
  
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• Pence: Trump will focus fast on tax, healthcare, immigration: WSJ

  02-12-2016 14:50 via news.yahoo.com
  
  (Reuters) - The Trump administration plans to move quickly on its goals to overhaul taxation, healthcare and immigration laws, Vice President-elect Mike Pence said in an interview published by the Wall Street Journal on Friday. President-elect Donald Trump, who takes office on Jan. 20, is preparing 100-day and 200-day plans aimed at fulfilling his campaign promises and stimulating economic growth, Pence said. The administration’s first priorities would include curbing illegal immigration,
  
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• Wall Street set to open lower after strong jobs data

  02-12-2016 14:46 via news.yahoo.com
  
  Wall Street was set to open lower on Friday after a strong jobs report strengthened the case for an interest rate hike in the coming weeks. A report from the U.S. Labor Department showed 178,000 jobs were added in the public and private sectors in November, compared with economists' expectation of 175,000. Strength in the labor market and improving inflation are two factors that influence the Federal Reserve's decision on raising interest rates.
  
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• US employers add 178K jobs as unemployment sinks to 4.6 pct.

  02-12-2016 14:39 via news.yahoo.com
  
  WASHINGTON (AP) — U.S. employers added a solid 178,000 jobs in November, reflecting the steady economy President-elect Donald Trump will inherit. And the unemployment rate hit a nine-year low of 4.6 percent, though mainly because many people stopped looking for jobs and were no longer counted as unemployed.
  
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• Canada adds 10,700 jobs, unemployment rate dips to 6.8 per cent

  02-12-2016 14:38 via news.yahoo.com
  
  The Canadian economy added 10,700 jobs in November, and the jobless rate fell to a five-month low of 6.8 percent, with part-time work accounting for the gains for the second month in a row, Statistics Canada said on Friday. Analysts polled by Reuters had predicted a loss of 20,000 jobs and said the jobless rate would stay at 7.0 percent. The figures were less cheery than they first looked, since Canada lost 8,700 full-time jobs while gaining 19,400 part-time positions.
  
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• Payrolls rise solidly; jobless rate at nine-year low

  02-12-2016 14:32 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON, Dec 2 (Reuters) - - U.S. employers boosted hiring in November and the unemployment rate dropped to a more than nine-year low of 4.6 percent, making it almost certain that the Federal Reserve will raise interest rates later this month. The solid gains in employment likely reflect rising confidence in the economy. Data for September and October were, however, revised to show 2,000 fewer jobs created than previously reported.
  
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• Iran says U.S. extension of sanctions act violates nuclear deal

  02-12-2016 14:12 via news.yahoo.com
  
  By Parisa Hafezi ANKARA (Reuters) - Iran threatened on Friday to retaliate against the U.S. Senate's vote to extend the Iran Sanctions Act (ISA) for 10 years, saying it violated last year's deal with six major powers that curbed its nuclear program. The ISA was first adopted in 1996 to punish investments in Iran's energy industry and deter its pursuit of nuclear weapons. U.S. officials said the ISA's renewal would not infringe on the nuclear agreement, under which Iran agreed to limit its sensit
  
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• Chinese suitors eye stake in Wacker Chemie's Siltronic: sources

  02-12-2016 14:07
  
  FRANKFURT (Reuters) - Wacher Chemieis in early talks with Chinese suitors interested in taking a stake in the German chemical group's silicon wafers unit Siltronic , three people familiar with the...
  
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• Coal minister denies plan to split Coal India, sees no value

  02-12-2016 13:56 via news.yahoo.com
  
  By Devidutta Tripathy and Jatindra Dash BHUBANESWAR, India (Reuters) - Power and coal minister Piyush Goyal said on Friday there was no value in splitting up India's biggest coal producer Coal India Ltd and denied any plans to break it up. In a presentation seen by Reuters on Thursday, government officials recommend that Coal India - with a stock market valuation of $28 billion - should be broken up into seven companies, which they say would make it more competitive and efficient. The proposal,
  
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• African bourses urged to increase products to stem outflows

  02-12-2016 13:52 via news.yahoo.com
  
  By Duncan Miriri KIGALI (Reuters) - African exchanges should seek the elimination of capital gains tax on their securities and roll out new products like derivatives in the face of decreased interest from foreign investors, market participants said. Adding to the challenge, economic growth in Africa is projected to be the slowest in two decades this year, reflected in bourses like Nigeria, where daily volumes have shrunk by two thirds to $10 million, as foreign investors quit, put off by the slo
  
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• Medical device maker Teleflex to buy Vascular Solutions for $1 billion

  02-12-2016 13:51
  
  (Reuters) - Teleflex Inc said on Friday it agreed to buy fellow medical device maker Vascular Solutions Inc for about $1 billion.
  
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