Finance news

• BRIEF-Erickson commenced process to syndicate participation in DIP term loan facility

  08-12-2016 23:53
  
  * Erickson - commencement of process to syndicate
  participation in dip term loan facility by eligible holders of
  co's 8.25% senior promissory notes due 2020Source text for Eikon:Further company...
  
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• BRIEF-Swift energy announces sale of remaining 25% interest in central Louisiana

  08-12-2016 23:44
  
  * Swift Energy Co - has recently increased its gas hedge
  position for 2017 and initiated a hedging program for 2018
  
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• European stocks rise, new US records as ECB extends stimulus

  08-12-2016 23:36 via news.yahoo.com
  
  New York (AFP) - European stock markets rose Thursday and US stocks hit new records after the European Central Bank extended its massive stimulus program beyond March.
  
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• BRIEF-Morguard Reit announces $175 million offering of convertible debentures

  08-12-2016 23:08
  
  * Morguard Real Estate - intends to use proceeds from
  offering to fund redemption of 4.85 pct convertible unsecured
  debentures which mature on Oct. 31, 2017
  
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• BRIEF-Cullen/Frost bankers files for potential mixed shelf offering, size not disclosed

  08-12-2016 23:07
  
  * Cullen/Frost Bankers Inc files for potential mixed shelf
  offering, size not disclosed - sec filingSource text - http://bit.ly/2gg60ke
  Further company coverage:
  
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• VelocityShares to launch oil ETNs to replace delisted notes

  08-12-2016 23:05
  
  NEW YORK, Dec 8 (Reuters) - VelocityShares said on
  Thursday it was launching two new exchange-traded notes as an
  "alternative" to a pair of popular products used to bet on oil
  prices that will be...
  
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• BRIEF-Morguard REIT announces $175 mln offering of convertible debentures

  08-12-2016 23:05
  
  * Morguard REIT announces $175 million offering of
  convertible debenturesSource text for Eikon:Further company coverage:
  
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• U.S.-based taxable bond funds break five-week outflow streak -Lipper

  08-12-2016 23:00
  
  NEW YORK, Dec 8 (Reuters) - U.S.-based taxable bond funds
  took in $1.1 billion during the most recent weekly period,
  Thomson Reuters Lipper data showed on Thursday, breaking a
  five-week streak of...
  
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• TSX adds to 19-month high as financials rally

  08-12-2016 22:57 via news.yahoo.com
  
  The Toronto Stock Exchange's S&P/TSX composite index ended up 57.45 points, or 0.38 percent, at 15,295.20, its highest close since May 2015. "There's a lot of optimism on potentially reflationary forces back in the market," said Youssef Zohny, portfolio manager at StennerZohny Investment Partners of Richardson GMP. Investors are betting that the policies of U.S. President-elect Donald Trump, such as infrastructure spending, tax cuts and deregulation of banks, will stimulate the economy.
  
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• BRIEF-S&P says Republic Of Ecuador's US$750 million notes rated 'B'

  08-12-2016 22:56
  
  * S&P says Republic Of Ecuador's US$750 million notes rated
  'B'Source text : [ID:http://bit.ly/2hl0Bxn]
  
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• BRIEF-ACCO Brands Corp prices offering of $400 mln 5.25 pct senior unsecured notes

  08-12-2016 22:54
  
  * ACCO Brands Corp - Priced a private offering of $400
  million in aggregate principal amount of 5.25% senior unsecured
  notes due 2024
  
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• Pemex bond success buoys LatAm issuance hopes

  08-12-2016 22:48
  
  NEW YORK, Dec 8 (IFR) - A blowout bond deal from state-owned
  Mexican oil company Petroleos Mexicanos (Pemex) this week has
  stoked hopes of a strong start to 2017 for Latin American
  issuance.
  
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• BRIEF-Iridex Corporation announces proposed public offering of common stock

  08-12-2016 22:45
  
  * Iridex Corp - intends to offer newly issued shares of
  common stock, $0.01 par value pursuant to an underwritten public
  offering
  
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• BRIEF-Cohen & Steers announces preliminary assets under management November 30, 2016

  08-12-2016 22:43
  
  * Cohen & Steers Inc - preliminary assets under management
  of $56.5 billion as of november 30, 2016, a decrease of $2.1
  billion from October 31, 2016
  
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• Wall Street again marks new highs in post-election run

  08-12-2016 22:25 via news.yahoo.com
  
  By Lewis Krauskopf (Reuters) - Major U.S. stock indexes climbed again on Thursday and set fresh record highs as a month-long rally following the presidential election of Donald Trump rolled on. Investors have driven up equities since Trump's Nov. 8 election over optimism about domestic economic stimulus and reduced corporate taxes and regulations. Supporting the upbeat sentiment on Thursday was a report that showed the number of Americans filing for unemployment benefits fell from a five-month h
  
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• US STOCKS-Wall Street again marks new highs in post-election run

  08-12-2016 22:22 via news.yahoo.com
  
  Dec (Shanghai: 600875.SS - news) 8 (Reuters) - Major U.S. stock indexes climbed again on Thursday and set fresh record highs as a month-long rally following the presidential election of Donald Trump rolled on. Investors have driven up equities since Trump's Nov. 8 election over optimism about domestic economic stimulus and reduced corporate taxes and regulations.
  
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• Time Inc hires bankers to explore takeover, partnership - WSJ

  08-12-2016 22:21 via news.yahoo.com
  
  (Reuters) - Time Inc , the publisher of Time, People and Fortune magazines, has tapped Morgan Stanley and Bank of America Corp to help find potential buyers or partners, the Wall Street Journal reported. The media company rejected a takeover bid from billionaire investor Edgar Bronfman Jr, the New York Post reported last month. Bronfman, former CEO of Warner Music Group, made the bid along with Russian billionaire Leonard Blavatnik and Israeli businessman Ynon Kreiz, accordin
  
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• For U.S. veterans, pipeline protest promises to galvanize activism

  08-12-2016 22:13 via news.yahoo.com
  
  CANNON BALL/FORT YATES, N.D. (Reuters) - U.S. veterans, thousands of whom last week helped stop a contested oil pipeline running through North Dakota, could become important partners of activists on the environment, the economy, race and other issues that divide Americans. Several academics said the effort to support the Standing Rock Sioux tribe and others opposed to the pipeline project was likely the biggest gathering of its kind of former military personnel since the early 1970s when U.S. ve
  
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• U.S. SEC enforcement chief Ceresney to depart at year-end

  08-12-2016 21:28 via news.yahoo.com
  
  Andrew Ceresney, U.S. Securities and Exchange Commission's policeman of Wall Street, will be departing the agency at the end of December, joining other top officials who are leaving before Donald Trump is sworn in as president in January. Until a permanent replacement is appointed, the SEC said in announcing the departure on Thursday, Ceresney's deputy director, Stephanie Avakian, will preside over the Enforcement Division. Ceresney is now the seventh top official at the SEC to announce plans to
  
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• Casino stocks fall after report of ATM cash withdrawal limit in Macau

  08-12-2016 21:23
  
  Dec 8 (Reuters) - Macau was preparing to slash in half the
  amount of cash China UnionPay bank card holders can withdraw
  from ATM machines in the city, the South China Morning Post
  reported, citing a...
  
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• Bloomberg says issues on its terminals resolved

  08-12-2016 21:23
  
  (Reuters) - Issues causing slowness on Bloomberg LP's terminals that began late Thursday morning had been resolved for all users by mid- afternoon, the company said.
  
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• Daimler to become 2016's biggest luxury car maker - CEO

  08-12-2016 20:58 via news.yahoo.com
  
  German carmaker Daimler is to become this year's biggest and most profitable luxury car maker, its chief executive said on Thursday. "We will achieve it this year, four years ahead of time," Daimler CEO Dieter Zetsche said at an economic conference in Frankfurt, referring to the company's 2020 target of becoming the world's biggest premium carmaker. Daimler's passenger car unit Mercedes Benz was on track for full-year sales of more than two million cars, Zetsche said, putting it ahead of rivals
  
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• Yields rise as ECB trims bond purchases; Wall St. gains

  08-12-2016 20:53 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - Bond yields rose and the euro dipped on Thursday after the European Central Bank said it would slow its stimulus programme from April, while Wall Street extended the previous session's gains. European stocks rose after the ECB decision to reduce the long-running bond buying programme to 60 billion euros (£50.6 billion) a month, from 80 billion, from April to December 2017. "Currencies are reacting more to the extension and bonds are focused on the taper
  
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• Yields rise as ECB trims bond purchases; Wall Street gains

  08-12-2016 20:52 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - Bond yields rose and the euro dipped on Thursday after the European Central Bank said it would slow its stimulus program from April, while Wall Street extended the previous session's gains. European stocks rose after the ECB decision to reduce the long-running bond buying program to 60 billion euros a month, from 80 billion, from April to December 2017. "Currencies are reacting more to the extension and bonds are focused on the taper," said Frances Donald, se
  
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• Bond yields rise as ECB trims bond purchases; Wall Street gains

  08-12-2016 20:51 via news.yahoo.com
  
  Bond yields rose and the euro dipped on Thursday after the European Central Bank said it would slow its stimulus program from April, while Wall Street extended the previous session's gains. European stocks rose after the ECB decision to reduce the long-running bond buying program to 60 billion euros a month, from 80 billion, from April to December 2017. "Currencies are reacting more to the extension and bonds are focused on the taper," said Frances Donald, senior economist at Manulife Asset Mana
  
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• GLOBAL MARKETS-Yields rise as ECB trims bond purchases; Wall St gains

  08-12-2016 20:50 via news.yahoo.com
  
  NEW YORK, Dec (Shanghai: 600875.SS - news) 8 (Reuters) - Bond yields rose and the euro dipped on Thursday after the European Central Bank said it would slow its stimulus program from April, while Wall Street extended the previous session's gains. European stocks rose after the ECB decision to reduce the long-running bond buying program to 60 billion euros a month, from 80 billion, from April to December 2017. The dollar rose 0.8 percent against a basket of major currencies after the ECB news and
  
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• UPDATE 1-Italy president starts talks to seek way out of political crisis

  08-12-2016 20:32
  
  * Talks end Saturday, future shape of govt to be decided(Updates to show Thursday consultations ended)
  
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• US manufacturing, services see rising profit 2017: ISM

  08-12-2016 20:27 via news.yahoo.com
  
  US manufacturing and services firms expect to see rising revenues and profits next year, amid a stronger economy and only modest increases in costs, the Institute of Supply Management said Thursday. The ISM semi-annual economic forecast also showed that companies expect a small increase in employment across both sectors, after a contraction in 2016. "On the whole we're looking at a positive year," said Bradley Holcomb, chair of the ISM Manufacturing Business Survey Committee, which releases a mo
  
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• BRIEF-Southern Co enters into agreement to issue, sell $550 mln of its Series 2016b Junior Subordinated notes

  08-12-2016 20:17
  
  * Underwriting agreement with Goldman Sachs & Co., J.P.
  Morgan Securities LLC, Mizuho Securities USA Inc. and Wells
  Fargo Securities, LLC
  
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• UPDATE 1-U.S. House approves temporary government funding bill

  08-12-2016 20:16
  
  WASHINGTON, Dec 8 (Reuters) - The U.S. House of
  Representatives on Thursday overwhelmingly passed legislation to
  keep federal agencies funded until April 28 and avert government
  shutdowns at the end...
  
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• U.S. House approves temporary government funding bill

  08-12-2016 20:08
  
  WASHINGTON, Dec 8 (Reuters) - The U.S. House of
  Representatives on Thursday approved legislation to continue
  funding the federal government at current levels through April
  28, 2017, and avert agency...
  
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• Citron calls Express Scripts culprit in drug price gouging

  08-12-2016 20:02
  
  Dec 8 (Reuters) - Short seller Citron's Andrew Left has
  turned his sights on Express Scripts Holding Co,
  calling the pharmacy benefit manager (PBM) the "real culprit
  behind pharmaceutical price...
  
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• U.S. agency collecting bilateral repo data for benchmark rates

  08-12-2016 20:00
  
  Dec 8 (Reuters) - The U.S. Office of Financial Research has
  begun gathering data on bilateral repurchase agreements in an
  effort to increase transparency on the funding market, the head
  of the agency...
  
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• U.S. senators urge Trump to take tough line on Russia over Ukraine

  08-12-2016 19:51 via news.yahoo.com
  
  A group of 12 Republican and 15 Democratic U.S. senators signed a letter sent to President-elect Donald Trump on Thursday urging him to take a tough line against Russia over what they termed its "military land grab" in Ukraine. "In light of Russia's continued aggression and repeated refusal to respect Ukraine's territorial integrity and sovereign right to choose its own destiny, we also renew our call for the United States to increase political, economic and military support for Ukraine," said t
  
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• Stagnant economy, yawning deficit keep heat on Zimbabwe's Mugabe

  08-12-2016 19:47 via news.yahoo.com
  
  By MacDonald Dzirutwe HARARE (Reuters) - Zimbabwe's economy has stagnated this year while its budget deficit has exploded, the government said on Thursday, adding to President Robert Mugabe's problems as he faces unprecedented protests over cash shortages and falling living standards. In his annual budget address, Finance Minister Patrick Chinamasa halved his 2016 economic growth estimate to 0.6 percent and said the budget deficit would widen to $1.18 billion - eight times his November 2015 fore
  
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• Ecuador sets final guidance on US$750m 10-year bond: sources

  08-12-2016 19:46
  
  NEW YORK, Dec 8 (IFR) - Ecuador has set final guidance of
  9.75% area on a US$750m 10-year bond, according to market
  sources.
  
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• UPDATE 3-Ghana opposition leader says "quietly confident" of election victory

  08-12-2016 19:44
  
  ACCRA, Dec 8 (Reuters) - Ghana's main opposition leader Nana
  Akufo-Addo said on Thursday he was "quietly confident" he had
  defeated President John Mahama in a Dec. 7 election and said his
  New...
  
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• U.S. carriers see 3.5 percent bump in 2016 winter holiday flying

  08-12-2016 19:43 via news.yahoo.com
  
  During the 21-day stretch from Dec. 16 through Jan. 5, between 1.8 million and 2.4 million passengers daily will fly globally aboard U.S. carriers, according to the Washington-based trade group. "An improving economy and reduced airfares remain the driving force behind the growth seen in air travel," Airlines for America Chief Economist John Heimlich said in a statement. "As we saw over Thanksgiving, U.S. airlines are well positioned to handle the increase in passengers expected this holiday sea
  
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• South Africa's rand weakens on ECB stimulus cut; stocks up

  08-12-2016 19:43 via news.yahoo.com
  
  South Africa's rand weakened more than 2 percent on Thursday after weak domestic economic data and the European Central Bank's announcement that it was trimming its stimulus program knocked the currency lower. Stocks booked their biggest one-day gain in nearly three months, with Steinhoff International extending a winning run to a second day after the budget retailer reported higher quarterly operating profits the previous day. By 1530 GMT the rand had slipped 1.5 percent to 13.6750 per dollar,
  
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• Police left out of Brazil pension reform for political reasons

  08-12-2016 19:33
  
  SAO PAULO, Dec 8 (Reuters) - Brazil's military police and
  firefighters were excluded from a proposed pension reform in
  recent days for political reasons, a senior finance ministry
  official said on...
  
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• UPDATE 2-Ecuador tightens yield on 10-year bond

  08-12-2016 19:24
  
  NEW YORK, Dec 8 (IFR) - Ecuador pulled in the yield Thursday
  on a new 10-year bond, its third foray into the US dollar market
  this year following a rally in oil prices.
  
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• BRIEF-Enablence Technologies announces non-brokered private placement

  08-12-2016 19:23
  
  * Intends to use proceeds from financing as growth capital
  for current and future products
  
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• Indexes hit record highs as Trump rally continues

  08-12-2016 18:55 via news.yahoo.com
  
  A month-long rally on Wall Street, sparked by Donald Trump's election as U.S. president, extended on Thursday, driving major Wall Street indexes to record highs. Investors have been betting on stocks of industrial and financial companies as they expect these sectors to benefit the most from Trump's promise to spend more on infrastructure and simplify regulations. "The market is projecting a lot more confidence in future growth, and I don't expect any big pullback to derail the rally until the en
  
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• Actively managed funds thrive amid seismic shift into indexing

  08-12-2016 18:27
  
  BOSTON (Reuters) - Fidelity Investments' $105 billion Contrafund is having a bad three-year run, but you would never know it by looking at its fees.
  
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• Britain's FTSE lags Europe after ECB extends stimulus

  08-12-2016 18:02
  
  * Sports Direct down after weak results(ADVISORY- Follow European and UK stock markets in real time on
  the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)
  
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• Tech, bank stocks drive Wall Street to new high

  08-12-2016 17:43 via news.yahoo.com
  
  A month-long rally on Wall Street, sparked by Donald Trump's election as U.S. president, roared ahead on Thursday, driving major Wall Street indexes to record highs. Investors are betting on shares of industrial and financial companies as they expect these sectors to benefit the most from Trump's promise to spend more on infrastructure and simplify regulations. The small cap Russell 2000 index also hit a record high.
  
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• US 30-year average mortgage rate rises to 4.13 percent

  08-12-2016 17:24 via news.yahoo.com
  
  WASHINGTON (AP) — Long-term U.S. mortgage rates climbed for the sixth straight week in the aftermath of Donald Trump's election win, marking new highs for the year.
  
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• McDonald's moves non-US tax HQ to Britain from Luxembourg

  08-12-2016 17:12 via news.yahoo.com
  
  McDonald's said Thursday it will shift its fiscal headquarters for the majority of non-US operations to Britain following an EU crackdown on the fast-food giant's tax benefits from Luxembourg. McDonald's is establishing a new Britain-based holding company to cover royalties from most licensing agreements outside the United States. The profits will be subject to British corporate taxes, McDonald's said.
  
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• SEC chair says mistake to weaken post-crisis financial reforms

  08-12-2016 17:02 via news.yahoo.com
  
  The outgoing chair of the U.S. Securities and Exchange Commission said on Thursday that reforms made by the agency after the financial crisis are indispensable to investors and markets and should not be undone. "Less than a decade ago, this country experienced the worst financial crisis in recent memory," Mary Jo White told a meeting of the SEC's investor advisory committee. President-elect Donald Trump and the Republicans who control both houses of Congress would like to roll back parts of the
  
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• Yields rise as ECB trims bond purchases; Wall Street steady

  08-12-2016 16:58 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - Bond yields rose and the euro dipped on Thursday after the European Central Bank said it would slow its stimulus programme from April, while Wall Street struggled to extend the previous session's records. European stocks rose after the ECB decision to reduce the long-running bond buying scheme to 60 billion euros a month, from 80 billion, from April to December 2017. "This isn't going to last forever, but they are saying we are going to keep doing this until
  
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