Finance news

• Trump deepens Goldman ties as he builds out economic team

  09-12-2016 23:46 via news.yahoo.com
  
  In the heat of the presidential campaign, Donald Trump accused primary rival Ted Cruz of being controlled by Goldman Sachs because his wife, Heidi, previously worked for the Wall Street giant. He slammed ...
  
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• Fresh records for US stocks; European shares mostly up

  09-12-2016 23:45 via news.yahoo.com
  
  New York (AFP) - Wall Street stocks surged to fresh records yet again Friday, with all three major indices jumping to new highs for the second straight session.
  
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• Chicago schools' new debt deal tops U.S. muni sales next week

  09-12-2016 22:52 via news.yahoo.com
  
  CHICAGO/NEW YORK (Reuters) - The financially struggling Chicago Board of Education next week will sell a new type of debt, armed with an investment grade rating from Fitch Ratings based on the bonds' ability to withstand a bankruptcy filing. The $500 million of capital improvement tax bonds slated to price through Barclays Capital are secured by a new property tax levy earmarked exclusively for capital spending and not by the school district's junk-rated general obligation pledge. The Chicago Pu
  
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• BRIEF-Dynegy's unit received requisite accepting votes in favor of a prepackaged plan of reorganization for Genco

  09-12-2016 22:46
  
  * Co, unit received requisite accepting votes in favor of a
  prepackaged plan of reorganization for Genco
  
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• Gabonese man pleads guilty in U.S. hedge fund bribery case

  09-12-2016 22:40
  
  NEW YORK (Reuters) - A Gabonese man who prosecutors say acted as a "fixer" for a joint-venture involving the hedge fund Och-Ziff Capital Management Group LLC pleaded guilty on Friday to U.S. charges...
  
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• Wall Street rises with Treasury yields, euro slides

  09-12-2016 22:37 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - U.S. stocks closed higher on Friday as more investors piled in on the presidential election rally while the euro continued to weaken after the European Central Bank’s decision a day earlier to extend economic stimulus. The S&P 500 stock index had its best week in four and its biggest gainers on Friday were the consumer staples and healthcare sectors, which have been two of the weakest in the rally following Donald Trump's election as U.S. President.
  
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• Hawkish Fed a potential speed bump for stock bulls

  09-12-2016 22:33 via news.yahoo.com
  
  Next week's Federal Reserve meeting and possible signals on the pace of rate hikes for next year could pose the biggest risk yet to the rally the U.S. stock market has seen since last month's presidential election. While investors have long anticipated the Fed will raise rates at the Dec. 13-14 meeting - in what would be its first such move in a year and second in nearly a decade - the worry for some stock investors is that the Fed takes a more aggressive stance on inflation and future hikes. St
  
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• Record-setting rally pushes on as S&P ends week up 3 percent

  09-12-2016 22:29 via news.yahoo.com
  
  Major U.S. stock indexes powered to another day of fresh record highs on Friday, with the S&P 500 ending the week up 3 percent, as investors bid up shares in sectors that have lagged in the month-long rally since Donald Trump's presidential election. The benchmark S&P 500 registered a record high for the third straight session, while the Dow and Nasdaq also hit new highs. The Dow recorded a fifth straight week of gains.
  
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• Wall Street rally continues as laggards advance

  09-12-2016 22:10 via news.yahoo.com
  
  NEW YORK (Reuters) - Major U.S. stock indexes powered to another day of fresh record highs on Friday, with the S&P 500 ending the week up about 3 percent, as investors bid up shares in sectors that have lagged in the month-long rally since Donald Trump's election to the presidency.
  
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• Factbox: Trump fills top jobs for his administration

  09-12-2016 21:47 via news.yahoo.com
  
  (Reuters) - U.S. President-elect Donald Trump is expected to pick Goldman Sachs executive Gary Cohn to head his White House National Economic Council, a group tasked with coordinating economic policy across federal agencies, a Trump transition official told Reuters on Friday. The following is a list of Republican Trump's selections for top jobs in his administration. All the posts but that of national security adviser, the White House chief of staff, White House director of the National Economic
  
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• Trump's threats chill corporate investment plans in Mexico

  09-12-2016 21:43 via news.yahoo.com
  
  By Dave Graham MEXICO CITY (Reuters) - Donald Trump's threats to battle Mexico over trade, investment and jobs have pushed a growing number of companies operating in the country to put expansion plans on hold until the president-elect fleshes out his policies, business leaders have told Reuters since the Nov. 8 election. Pledging to recast a joint trade deal and protect U.S. industry from outsourcing to Mexico, Trump landed his first blow last week, announcing a deal with United Technologies Cor
  
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• Trump to name Goldman executive Cohn to key economic post

  09-12-2016 21:35 via news.yahoo.com
  
  By Steve Holland BATON ROUGE, La. (Reuters) - U.S. President-elect Donald Trump will likely ask a senior Goldman Sachs banker to coordinate economic policy across his administration, turning again to Wall Street for expertise in managing the world's largest economy, a transition official said on Friday. Trump's pick of Goldman President Gary Cohn, 56, to head the White House National Economic Council comes despite Trump's past criticism of the financial sector's power. Trump hammered Goldman and
  
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• Trump expected to name a top Goldman exec to economic post

  09-12-2016 21:24 via news.yahoo.com
  
  WASHINGTON (AP) — President-elect Donald Trump is expected to name Gary Cohn, the No. 2 executive at the powerhouse Wall Street firm Goldman Sachs, to a prominent White House economic post.
  
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• U.S. stocks rise with Treasury yields, euro slides

  09-12-2016 21:14 via news.yahoo.com
  
  U.S stocks followed Europe higher on Friday as investors piled in on the post-Trump-election rally while the euro weakened against the dollar as investors continued to digest the European Central Bank’s Thursday decision to extend economic stimulus. U.S. Treasury yields climbed, with benchmark yields on track for a fifth straight week of increases on stronger-than-forecast data on China inflation and U.S. consumer sentiment ahead of $56 billion in government debt supply next week. European
  
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• U.S. court backs Abengoa debt deal; bankruptcy ruling due soon

  09-12-2016 21:11
  
  CHICAGO, Dec 9 (Reuters) - A U.S. judge has agreed to halt
  U.S. creditor lawsuits against Abengoa SA, an
  international renewable energy company that has been waging a
  multi-layer battle for more than...
  
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• BRIEF-Basic Energy Services obtains court approval of restructuring and recapitalization plan

  09-12-2016 21:11
  
  * Prepackaged plan equitizes over $800 million of unsecured
  debt, eliminates over $60 million in annual cash interest
  
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• Trump expected to tap Goldman banker for economic post

  09-12-2016 21:01 via news.yahoo.com
  
  WASHINGTON (AP) — President-elect Donald Trump is expected to name Goldman Sachs president Gary Cohn to an influential White House economic post, two people informed of the decision said Friday.
  
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• Retirement plan offered by Trump pick Puzder sheds light on Labor rule

  09-12-2016 20:49 via news.yahoo.com
  
  By Sarah N. Lynch WASHINGTON (Reuters) - Fast food executive Andy Puzder, President-elect Donald Trump's choice to head the Labor Department, could be in a position to undermine the agency's new rule on retirement advice which has long been opposed by the financial industry. Puzder has not publicly commented on the fiduciary rule, which is due to go into effect in April, but a glimpse into the 401(k) plans he offers his own employees at CKE Restaurants may provide a few clues about his philosoph
  
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• Trump to name Goldman executive to key economic post - reports

  09-12-2016 20:00 via news.yahoo.com
  
  By Jason Lange and Olivia Oran WASHINGTON/NEW YORK (Reuters) - U.S. President-elect Donald Trump on Friday was expected to name a senior Goldman Sachs banker to coordinate economic policy across his administration, turning again to Wall Street for expertise in managing the world's largest economy. Trump's pick of Gary Cohn, 56, the firm's president and chief operating officer, to head his White House National Economic Council, reported by NBC and other media outlets, comes despite Trump's past c
  
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• Coke CEO Muhtar Kent hands reins to Quincey in widely expected move

  09-12-2016 19:58
  
  (Reuters) - Coca-Cola Co said on Friday that Muhtar Kent would step aside as chief executive next year and be replaced by James Quincey, a company veteran credited with several recent changes to help...
  
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• UPDATE 1-Questions around Capita's strategy after asset management shock

  09-12-2016 19:10
  
  EDINBURGH, Dec 9 (Reuters) - Shares in Capita fell
  for a second day on Friday after a profit warning and decision
  to sell its asset management business left analysts questioning
  the British...
  
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• Health, tech stocks extend Wall Street record-setting rally

  09-12-2016 19:04 via news.yahoo.com
  
  The three main U.S. stock indexes have hit a series of record highs as investors piled into sectors such as banks and industrials, betting that President-elect Donald Trump would usher in a business-friendly environment. "I think if you are a short-term trader, you may be looking to take profits and you are starting to see a little bit of that in financials," said Robert Pavlik, chief market strategist at Boston Private Wealth.
  
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• Angola does not need FX devaluation at present: cenbank governor

  09-12-2016 18:56 via news.yahoo.com
  
  By Karin Strohecker LONDON (Reuters) - Angola does not need to devalue its currency at the moment but will work on measures to lessen the gap between the formal and informal exchange rates, central bank governor Valter Filipe da Silva told Reuters. Angola's economy has been suffering from the drop in crude prices and an acute hard currency crunch, fuelling a thriving black market for the currency of Africa's second largest oil exporter after Nigeria. Speaking to the sidelines of a meeting at thi
  
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• Exclusive: Japan's TDK in talks to buy iPhone supplier InvenSense - sources

  09-12-2016 18:50
  (Reuters) - Japanese electronic parts maker TDK Corp is in talks to acquire InvenSense Inc, a U.S. chip maker that produces motion sensors for Apple Inc and Samsung Electronics Co, people familiar...
  
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• FTSE records best week since July, Sky surges 27 pct on Fox bid

  09-12-2016 18:42
  
  * Sky jumps 27 pct on takeover approach(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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• Trump offers Goldman executive Gary Cohn key economic post - NBC

  09-12-2016 18:15 via news.yahoo.com
  
  By Jason Lange and Olivia Oran WASHINGTON/NEW YORK (Reuters) - U.S. President-elect Donald Trump has asked senior Goldman Sachs banker Gary Cohn to coordinate economic policy across his administration, turning to Wall Street for expertise in managing the world's largest economy, NBC News reported on Friday. Trump's pick of Cohn, 56, the firm's president and chief operating officer, to head his White House National Economic Council marks the third time he has tapped an alum of the major investmen
  
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• Wall Street hits record high for third day in a row

  09-12-2016 17:45 via news.yahoo.com
  
  (Reuters) - Wall Street's major indexes hit record highs for the third day in a row on Friday as the post-election rally got a lift from healthcare and technology stocks.
  
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• BRIEF-Monte dei Paschi shares close down 10.6 percent

  09-12-2016 17:40
  
  * shares close down 10.6 percent after a source told Reuters
  the European Central Bank rejected a request by the bank for
  more time to raise capitalFurther company coverage:
  (Reporting by...
  
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• Credit Agricole to win race for new senior debt

  09-12-2016 17:36
  
  LONDON, Dec 9 (IFR) - Credit Agricole is poised to become the first bank to issue a new form
  of senior debt, thwarting expectations that BNP Paribas would open the new market and providing
  a...
  
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• Among the shocks, steady global growth is the biggest surprise

  09-12-2016 17:28 via news.yahoo.com
  
  In a year of political shocks, the unexpected strength of the global economy going into 2017 may be the most enduring surprise for financial markets. Despite all the electoral upsets - Donald Trump's U.S. presidential victory plus referendums in Britain and Italy that have pushed both countries into deep uncertainty - economic data are consistently beating forecasts. Activity seems resistant to the surprises that once might have provoked major market drops, helped by huge sums that many central
  
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• Peace deal will help Colombia battle cocaine, president says

  09-12-2016 17:24 via news.yahoo.com
  
  By Alister Doyle OSLO (Reuters) - Colombia's peace deal with Marxist rebels will help the country battle the cocaine trade, President Juan Manuel Santos said on the eve of collecting a Nobel Peace Prize that he called a "gift from heaven". In Oslo for Saturday's award ceremony, Santos said the end of a five-decade-long guerrilla conflict in which 220,000 people died could have widespread economic and environmental benefits. "It came like a gift from heaven because it gave us a tremendous push,"
  
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• Trump offers Goldman executive Cohn key economic post: NBC

  09-12-2016 17:15 via news.yahoo.com
  
  U.S President-elect Donald Trump has asked Goldman Sachs executive Gary Cohn to head his White House National Economic Council, a group that coordinates economic policy across agencies, NBC News reported on Friday. Cohn, president and chief operating officer at the Wall Street firm, had been widely considered the heir apparent to Goldman CEO Lloyd Blankfein. A Goldman Sachs spokesman was not immediately available for comment.
  
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• EU upsets China with new steel price investigation

  09-12-2016 17:06 via news.yahoo.com
  
  By Philip Blenkinsop BRUSSELS (Reuters) - The European Union has launched a new investigation into whether Chinese manufacturers are selling steel into Europe at unfairly low prices, angering China which says Europe's steel problems are due to the region's own economic weakness. The European Commission has determined that a complaint brought by EU steel makers' association Eurofer regarding certain corrosion resistant steel merits an investigation, the EU's official journal said on Friday.
  
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• Growth paths diverge in eurozone's top economies

  09-12-2016 16:50 via news.yahoo.com
  
  Growth paths in top eurozone economies Germany and France are headed in different directions, central bank data showed Friday, raising the prospect of tension between the two powerhouses. France's central bank Friday trimmed its growth forecasts for 2016 to 2018 citing a worsening of the global economy and Brexit, while Germany's Bundesbank lifted its outlook. The diverging projections in the eurozone's two top economies came a day after the European Central Bank extended measures to underpin th
  
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• UPDATE 4-Sumitomo to buy Irish banana company Fyffes for $800 mln

  09-12-2016 16:46
  
  * Says hopes deal completed early in 2017(Adds analyst comment, recasts)
  
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• BRIEF-Monte dei Paschi chairman is not at all worried about bank's situation

  09-12-2016 16:25
  
  * Chairman Alessandro Falciai says he is not at all worried
  about the bank's situation
  
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• One-time Trump adviser Page sees opportunities in Russia

  09-12-2016 16:21 via news.yahoo.com
  
  Carter Page, a businessman previously described as a foreign-policy adviser to U.S. President-elect Donald Trump, said on Friday he saw significant business opportunities in Russia. Page arrived in Moscow on Thursday and told Russia's RIA news agency he was visiting Russia to work on economic projects. The current nature of his relationship with Trump's team is unclear.
  
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• World stocks squeeze out gains, Italian bank trembles

  09-12-2016 16:15 via news.yahoo.com
  
  Global stock markets eked out further gains Friday after a strong week, but Milan equities were held back by more bad news for the world's oldest bank, Monte dei Paschi. Key European indices rose by up to around half a percent as positive sentiment inspired by the European Central Bank's continued support for the eurozone spilled over from Thursday. "Yesterday's ECB meeting marked the penultimate risk event of the year," he said, ahead of next week's Fed meeting which is now the main focus for m
  
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• U.S. wholesale inventories fall in October

  09-12-2016 16:03 via news.yahoo.com
  
  U.S. wholesale inventories fell as previously reported in October amid a surge in sales, supporting views that inventory investment would provide a modest boost to economic growth in the fourth quarter. The Commerce Department said on Friday that wholesale inventories decreased 0.4 percent after rising 0.1 percent in September. The department reported last month that wholesale inventories declined 0.4 percent in October.
  
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• Rosneft says has enough oil as Glencore raises stakes in Russia

  09-12-2016 16:00
  MOSCOW (Reuters) - Rosneft said on Friday it has enough oil to fulfil new contracts with Swiss trader Glencore as markets gear up for a fierce battle between some of the world's largest merchants for...
  
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• S&P, Nasdaq hit highs on gains in health, tech stocks

  09-12-2016 15:56 via news.yahoo.com
  
  The "Trump rally" has been running since the Nov. 8 vote as investors bet President-elect Donald Trump's policies will boost economic growth and inflation. The S&P 500 is currently trading at about 17.5 times forward twelve-month earnings, above the 10-year median of nearly 15 times, according to Thomson Reuters StarMine.
  
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• Wall Street opens higher on gains in health stocks

  09-12-2016 15:49 via news.yahoo.com
  
  (Reuters) - U.S. stocks opened higher on Friday, with gains in healthcare and technology lifting the Nasdaq to a record high.
  
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• Shares in Britain's Capita fall further as investors shun strategy

  09-12-2016 15:39
  
  EDINBURGH, Dec 9 (Reuters) - Shares in Capita fell
  further on Friday after a profit warning and the decision to
  sell its asset management business left investors questioning
  the British outsourcing...
  
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• BRIEF-Monte dei Paschi down 15.5 pct after Reuters report of ECB rejection

  09-12-2016 15:30
  
  * the European Central Bank has rejected a request by the
  lender for more time to raise capital, a source told Reuters, a
  decision that piles pressure on the Rome government to bail out
  the lender...
  
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• EU to extend economic sanctions on Russia after leaders meet on December 15

  09-12-2016 15:22 via news.yahoo.com
  
  The European Union will extend by six months its main economic sanctions on Russia over the conflict in Ukraine after the bloc's leaders meet in Brussels on Dec. 15, diplomatic sources and officials said on Friday. The sanctions include restrictions access to international financing, and curbs on defence and energy cooperation with Russia, which annexed the Black Sea peninsula of Crimea from Kiev in March, 2014, and went on to back a rebellion in east Ukraine. The conflict in Ukraine's industria
  
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• Monte dei Paschi managers met banks, Italy economy minister: Treasury source

  09-12-2016 15:12 via news.yahoo.com
  
  ROME (Reuters) - Banca Monte dei Paschi di Siena's top management met Italy's economy minister and representatives from investment banks JPMorgan and Mediobanca in Rome on Friday, a Treasury source said.
  
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• Aixtron considers partial sell-off after Chinese deal blocked

  09-12-2016 14:49
  FRANKFURT (Reuters) - German semiconductor chipmaking machinery company Aixtronmay sell off part of its business, its chief executive said in an interview published on Friday, opening the door for...
  
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• No time, investors for private rescue of Monte dei Paschi by year-end - source

  09-12-2016 14:24
  
  MILAN, Dec 9 (Reuters) - A consortium of investment banks
  that must decide whether to underwrite a privately-backed
  5-billion euro rescue plan for Monte dei Paschi di Siena
  believes there is not...
  
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• BRIEF-Monte dei Paschi shares resume trade, down 6.5 pct

  09-12-2016 14:19
  
  * shares were previously halted after falling 4.5 percentFurther company coverage:
  (Reporting by Milan newsroom)
  
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• Tunisia's parliament rejects tax reforms in blow to deficit-cutting drive

  09-12-2016 14:17 via news.yahoo.com
  
  By Tarek Amara TUNIS (Reuters) - Tunisia's parliament has voted against two articles in next year's budget imposing taxes on lawyers and pharmacists, in a blow to government efforts to cut the deficit and implement economic reforms. The vote late on Thursday came a day after the government backtracked on plans to freeze public sector wages in 2017 following a deal with the powerful UGTT union. Finance Minister Lamia Zribi said Tunisia would need $3.7 billion in foreign loans in 2017, $1 billion
  
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