Finance news

• BRIEF-Old Second Bancorp says offering $45 mln of its 5.75% fixed-to-floating rate senior notes

  13-12-2016 23:59
  
  * Says offering $45 million of its 5.750% fixed-to-floating
  rate senior notes due 2026 - sec filingSource text http://bit.ly/2hsqAzE
  Further company coverage:
  
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• West Coast states to fight climate change even if Trump does not

  13-12-2016 23:55
  
  CORONADO, Calif., Dec 13 (Reuters) - The governors of the
  three U.S. West Coast states on Tuesday vowed to step up their
  efforts to fight climate change in the face of the incoming
  administration of...
  
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• BRIEF-Fairfax launches C$450 million senior notes offering

  13-12-2016 23:52
  
  * Fairfax Financial Holdings Ltd- Intends to offer C$450
  million in aggregate principal amount of senior notes due 2026
  
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• UPDATE 2-Gundlach: U.S. 10-yr Treasury yield above 3 pct will harm stocks, housing

  13-12-2016 23:36
  
  NEW YORK, Dec 13 (Reuters) - A U.S. 10-year Treasury note
  yield above 3 percent will harm the stock-market rally and
  housing market, said Jeffrey Gundlach, chief executive of
  DoubleLine Capital, on...
  
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• Happiness still elusive in Russia, many ex-Soviet states 25 years after USSR -survey

  13-12-2016 23:36
  
  LONDON, Dec 13 (Reuters) - A quarter of a century after the
  collapse of the Soviet Union, life satisfaction in Russia and
  other ex-Soviet states remains stubbornly low, and enthusiasm
  for democracy...
  
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• Wall St. adds to record rally, Dow approaches 20,000

  13-12-2016 23:24 via news.yahoo.com
  
  The Dow has climbed about 9 percent since the Nov. 8 election, with gains fueled by expectations that President-elect Donald Trump will reduce taxes and regulation and stimulate the economy. Apple added 1.67 percent and provided the biggest support to the S&P and Nasdaq, while IBM rose 1.69 percent, helping lift the Dow. Some investors see the 20,000-level on the Dow as a psychologically important signal of broad positive sentiment.
  
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• UPDATE 4-Bollore turns up the heat on Berlusconi over Mediaset stake

  13-12-2016 23:24
  
  * Vivendi says has 12.3 pct of Mediaset, aims for up to 20
  pct
  
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• BRIEF-Steel partners holdings says Board of co approved repurchase of up to 2 mln

  13-12-2016 23:22
  
  * Says on Dec 7, board of directors of co approved
  repurchase of up to 2 million of company's common unitsSource text http://bit.ly/2hjiiwr
  Further company coverage:
  
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• BRIEF-Concho Resources Inc says notes will bear interest at a rate of 4.37% per annum

  13-12-2016 23:13
  
  * Concho Resources Inc- has priced an offering of $600
  million aggregate principal amount of senior unsecured notes due
  2025
  
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• Wall Street adds to record rally, Dow approaches 20,000

  13-12-2016 22:48 via news.yahoo.com
  
  U.S. stocks racked up new all-time highs on Tuesday and the Dow Jones industrial average ended fewer than 100 points away from the 20,000 mark as a post-election rally showed no signs of fatigue. The Dow has climbed about 9 percent since the Nov. 8 election, with gains fuelled by expectations that President-elect Donald Trump will reduce taxes and regulation and stimulate the economy. "If you're bullish, tech does look attractive here." Apple added 1.67 percent and provided the biggest support t
  
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• REFILE-U.S. municipal debt volume to retreat in 2017: Loop Capital

  13-12-2016 22:34
  
  SAN FRANCISCO, Dec 13 (Reuters) - Municipal debt volume will
  come in at $395 billion next year, down an estimated 13 percent
  from 2016 levels as the incoming Trump administration's impact
  on economic...
  
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• BRIEF-Macro Enterprises to renew normal course issuer bid

  13-12-2016 22:21
  
  * Macro Enterprises - normal course issuer bid for up to 1.5
  million common shares of co
  
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• BRIEF-Matrix Service acquires Houston Interests LLC

  13-12-2016 22:20
  
  * Matrix Service Co- Matrix anticipates transaction will be
  modestly accretive to earnings in balance of this fiscal year
  
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• BRIEF-ConnectOne Bancorp announces commencement of common stock offering

  13-12-2016 22:16
  
  * ConnectOne Bancorp Inc- Commencement of an underwritten
  offering of $35.0 million of shares of its common stock
  
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• BRIEF-Renasant announces commencement of common stock offering

  13-12-2016 22:10
  
  * Commencement of an underwritten public offering of
  approximately $65 million of company's common stock
  
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• Gundlach: A 10-year Treasury yield above 3 percent will harm stocks, housing

  13-12-2016 21:51
  
  NEW YORK, Dec 13 (Reuters) - A 10-year Treasury note yield
  above 3 percent will harm the stock-market rally and housing
  market, said Jeffrey Gundlach, chief executive of DoubleLine
  Capital, on...
  
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• Wall Street extends record rally, Dow approaches 20,000

  13-12-2016 21:50 via news.yahoo.com
  
  U.S. stocks racked up new all-time highs on Tuesday and the Dow Jones industrial average was fewer than 100 points away from the 20,000 mark as a post-election rally showed no signs of fatigue. The Dow has climbed almost 9 percent since the Nov. 8 election, with President-elect Donald Trump's expected agenda of economic stimulus and reduced taxes and regulations fuelling the rally. If you're bullish, tech does look attractive here," said Michael O'Rourke, chief market strategist at JonesTrading
  
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• TREASURIES-2-year yields hit highest since 2010; yield curve flattens after auction

  13-12-2016 21:33
  
  * U.S. 2-year yield rises to six-year high* U.S. 30-year yields fall after strong auction* Yield curve flattens, reversing trend since U.S. election(Updates to afternoon trading, new...
  
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• BRIEF-Acasta Enterprises announces investor commitments to private placement

  13-12-2016 21:33
  
  * Acasta enterprises Inc announces key shareholder support
  and investor commitments to private placement
  
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• BRIEF-Moody's downgrades Caterpillar ratings to A3/Prime-2

  13-12-2016 21:27
  
  * Moody's downgrades Caterpillar ratings to A3/Prime-2;
  outlook is stable.
  
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• FOREX-Dollar steady as traders await clarity on Fed rate hike path

  13-12-2016 21:04
  
  * Euro briefly hits 5-day high vs dollar of $1.0666(Updates prices, adds analyst comment)
  
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• Bitcoin soars to nearly three-year high in wake of China volatility

  13-12-2016 21:00 via news.yahoo.com
  
  By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin on Tuesday surged to its highest in nearly three years as investors bought the asset in a supposedly safe-haven bid in the midst of volatility in the Chinese stock market. Darin Stanchfield, founder and chief executive officer of bitcoin wallet KeepKey said bitcoin has benefited from uncertainty in the Chinese stock market. Mainland Chinese markets have been on the defensive the last two days due to a widely-anticipated in
  
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• UPDATE 1-Stock, bond markets could see sharp declines- U.S. financial watchdog

  13-12-2016 20:55
  
  WASHINGTON, Dec 13 (Reuters) - Stock and bond markets may be
  riding for a fall as equity prices soar and interest rates stay
  low, a federal monitor of U.S. financial stability said on
  Tuesday,...
  
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• Global stocks rise with Dow near 20,000; dollar steady before Fed

  13-12-2016 20:51 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - World stock indexes rose while the dollar held steady on Tuesday as investors turned their focus to the U.S. Federal Reserve's expected interest rate hike this week and potential changes in its inflation and growth outlook. Gains in technology and energy companies helped lift the S&P 500 and Dow Jones industrial average to fresh record highs, with the Dow less than 1 percent away from hitting the 20,000 mark for the first time. The move extended
  
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• UPDATE 1-Investors scoop up U.S. 30-year bond supply

  13-12-2016 20:48
  
  NEW YORK, Dec 13 (Reuters) - The U.S. 30-year government
  bond regained some luster on Tuesday as yield-hungry investors
  who had been skittish about owning longer-dated debt, loaded up
  on $12 billion...
  
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• Stocks rise with Dow near 20,000; dollar steady before Fed

  13-12-2016 20:47 via news.yahoo.com
  
  World stock indexes rose while the dollar held steady on Tuesday as investors turned their focus to the U.S. Federal Reserve's expected interest rate hike this week and potential changes in its inflation and growth outlook. Gains in technology and energy companies helped lift the S&P 500 and Dow Jones industrial average to fresh record highs, with the Dow less than 1 percent away from hitting the 20,000 mark for the first time. The move extended the U.S. stock market's post U.S.-election ral
  
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• GLOBAL MARKETS-Stocks rise with Dow near 20,000; dollar steady before Fed

  13-12-2016 20:44
  
  * Fed expected to raise rates but markets focus on forecasts(Adds quote, European stocks' close, updates prices)
  
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• UPDATE 2-JetBlue to double share buyback as checked bag fees boost revenue

  13-12-2016 20:41
  
  NEW YORK, Dec 13 (Reuters) - JetBlue Airways Corpon Tuesday said it was earning more than expected from checked
  bag fees and higher-priced fares and it plans to double the
  money it will return to...
  
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• Brazil court drops tax case against billionaire financier Safra

  13-12-2016 20:39 via news.yahoo.com
  
  A Brazilian federal court dropped prosecution against Joseph Safra, the world's richest banker, in connection with an alleged scheme to pay bribes to government officials in return for waiving tax debts. The media office of the Brasilia-based Regional Federal Tribunal for the 1st Region confirmed the ruling, in a 2-to-1 decision. In a statement, the Safra Group said the court's ruling prevents "the continuation of the action for lack of just cause and the proceeding ... is now closed." In March,
  
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• BRIEF-Inter Pipeline announces $450 million medium-term note offering

  13-12-2016 20:18
  
  * Inter Pipeline announces $450 million medium-term note
  offering
  
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• IMF halves Mozambique growth, policy adjustments required for aid

  13-12-2016 20:13 via news.yahoo.com
  
  The International Monetary Fund cut its 2016 growth forecast for Mozambique by nearly half on Tuesday, saying it would require fiscal policy adjustments to pave the way for financial assistance and a recovery program. In a statement after aid talks with government officials on Tuesday, the lender said it now expected economic growth of 3.4 percent compared with the 6.6 percent forecast in June.
  
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• UPDATE 2-New Italian PM wins first confidence vote, pledges to support banks

  13-12-2016 20:10
  
  * Opposition to walk out in protest(Updates after winning lower house vote)
  
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• IMF says perceptions of weakening governance to weigh on South African growth

  13-12-2016 20:03 via news.yahoo.com
  
  JOHANNESBURG (Reuters) - Global and domestic factors, including perceptions of weakening governance and rising uncertainty regarding policy direction are likely to weigh on South Africa's economic growth next year, the International Monetary Fund said on Tuesday. However, in a statement after a visit from members of its staff, the IMF said that improved electricity supply would help the economy and noted that wage agreements had been reached with limited strike action. (Reporting by Stella Mapen
  
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• Brazil Senate passes spending cap in win for Temer

  13-12-2016 19:54 via news.yahoo.com
  
  By Anthony Boadle and Marcela Ayres BRASILIA (Reuters) - Brazilian senators on Tuesday passed a 20-year public spending ceiling proposed by President Michel Temer to control a ballooning budget deficit, a crucial step in an austerity drive to rescue Brazil's stalled economy. Approval of the centerpiece of his fiscal plan handed a welcome victory to Temer's scandal-plagued government, which is threatened by corruption accusations and citizens' deep frustration with economic malaise. The Senate ap
  
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• BRIEF-Melior Resources provides update on financial position

  13-12-2016 19:53
  
  * In connection with amendment to Pala facility, Pala agreed
  to advance additional $300,000, total amount under facility $3
  mlnSource text for Eikon:Further company coverage:
  (Bengaluru...
  
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• UPDATE 2-Brazil Senate passes spending cap in win for Temer

  13-12-2016 19:43
  
  BRASILIA, Dec 13 (Reuters) - Brazilian senators on Tuesday
  passed a 20-year public spending ceiling proposed by President
  Michel Temer to control a ballooning budget deficit, a crucial
  step in an...
  
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• Your Money: How to protect your prized pet with a trust

  13-12-2016 19:39
  
  NEW YORK (Reuters) - It is a sad story when seniors' pets show up at an animal shelter: they are often abandoned when their owners become infirm or die without insuring that the pets will be taken in...
  
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• Stock, bond markets could see sharp declines: U.S. financial watchdog

  13-12-2016 19:27 via news.yahoo.com
  
  Stock and bond markets may be riding for a fall as equity prices soar and interest rates stay low, a federal monitor of U.S. financial stability said on Tuesday, warning that such a tumble could inflict serious damage on banks, life insurers and other important parts of the economy. At the same time, commercial real estate prices have climbed while capitalization rates, which measure properties' returns, are close to record lows, it found. A price shock in one of these markets could threaten fin
  
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• U.S. Fed awards most reverse repos since October

  13-12-2016 19:22
  
  NEW YORK, Dec 13 (Reuters) - The Federal Reserve on Tuesday
  awarded $238.46 billion of one-day, fixed-rate reverse
  repurchase agreements to 58 bidders at an interest rate of 0.25
  percent, the New...
  
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• Wall Street extends record rally, Dow closes in on 20,000

  13-12-2016 19:15 via news.yahoo.com
  
  U.S. stocks reached all-time highs on Tuesday, with the Dow Jones industrial average less than 100 points away from the 20,000 mark, as a record-setting post-election rally showed no signs of fatigue. The Dow has risen about 8.6 percent since Nov.8, with President-elect Donald Trump's expected agenda of economic stimulus and reduced taxes and regulations fueling the rally. "Investors are encouraged by expectations that Trump and a GOP-controlled Congress will enact pro-growth policies and we're
  
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• BRIEF-Energy XXI plan of reorganization confirmed by Court

  13-12-2016 19:11
  
  * Plan will strengthen company's financial position by
  eliminating more than $3.6 billion of debt from its balance
  sheet
  
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• Brazil's Temer says corruption cases must not paralyze country

  13-12-2016 19:07 via news.yahoo.com
  
  BRASILIA (Reuters) - President Michel Temer said on Tuesday that corruption accusations against politicians emerging from the Petrobras graft scandal must not paralyze the country, as his government plans measures to revive Brazil's stalled economy. Temer has asked prosecutors to speed up the release of plea bargain statements by defendants in the Petrobras investigation so that accusations, which have implicated members of his Cabinet, do not disrupt efforts to pull Brazil from recession. He sa
  
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• Stocks climb on Italy bank action

  13-12-2016 18:15 via news.yahoo.com
  
  European stock markets rose solidly Tuesday, led by Milan's main index and Italian banking shares, after ailing UniCredit said it would axe thousands of jobs and raise billions of euros.
  
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• Global stock indexes rise, dollar holds flat before Fed

  13-12-2016 18:08 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - Global stock indexes rose while the dollar held steady on Tuesday as investors turned their focus to the U.S. Federal Reserve's expected interest rate hike this week and potential changes in its inflation and growth outlook. The S&P 500 and Dow Jones industrial average hit fresh record highs in early U.S. trading, and the Dow was less than 1 percent away from hitting the 20,000 mark for the first time. The gains extended the market's post U.S.-el
  
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• Brazil's Senate passes main text of 20-year spending cap

  13-12-2016 18:05 via news.yahoo.com
  
  By Anthony Boadle and Marcela Ayres BRASILIA (Reuters) - Brazilian senators on Tuesday passed the main text of a 20-year public spending cap proposed by President Michel Temer to control a ballooning budget deficit, a crucial step in his plan to rescue Brazil's stalled economy. The Senate approved the spending ceiling by a 53-16 margin, though leftist opponents of the austerity measure sought to delay the vote as long as possible. Senators must still vote on some details of the bill, such as req
  
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• Iceland's president calls on deadlocked parties to form government

  13-12-2016 17:59 via news.yahoo.com
  
  Iceland's president has urged party leaders to come up with a plan to form a majority government after talks on building a coalition failed for the third time following the October election and concerns grew that a new vote could be called. Failure to form a government could delay the gradual lifting of capital controls imposed after the 2008 financial crisis - seen as key by investors to reinserting the economy into global financial markets. "I reminded the party leaders of their responsibility
  
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• Brazil Senate approves 20-year spending freeze

  13-12-2016 17:42 via news.yahoo.com
  
  Brasília (AFP) - Brazil's Senate on Tuesday approved a 20-year government spending freeze billed as the centerpiece of austerity reforms aimed at restoring economic health to the troubled Latin American giant. An expected protest had not materialized before the Senate rapidly wrapped up its debate. The vote means that the spending cap is now mandated by the constitution, serving as the central plank in Temer's bid to "transform" the broken economy, which is in deep recession.
  
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• Wall Street touches record high as post-election rally continues

  13-12-2016 17:21 via news.yahoo.com
  
  The Dow has risen about 8.6 percent since Nov.8, with President-elect Donald Trump's expected agenda of economic stimulus and reduced taxes and regulations fueling a rally. "The macro and fundamental background are favorable for stocks and we expect equities to trend higher as we head into 2017," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. A hike of 25 basis points in the Fed's target range of 0.25-0.50 percent is priced in, but investors will be examining the Fed
  
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• UPDATE 2-Proteon Therapeutics kidney drug fails key study, shares slump

  13-12-2016 17:03
  
  * Shares plummet about 75 pct to hit a record low(Adds analyst comment; updates shares)
  
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• Dutch upgrade growth outlook, but may be too late for election boost

  13-12-2016 16:49 via news.yahoo.com
  
  By Toby Sterling AMSTERDAM (Reuters) - The Dutch economy will grow by 2.1 percent next year, the government's forecasting office said on Tuesday, upgrading the outlook for a country set to buck a slowing trend and be one of Europe's stand-out performers in 2017. The Netherlands Bureau for Economic Policy Analysis (CPB) raised its GDP growth forecast for 2017 to 2.1 percent from a 1.7 percent estimate in September, citing strong household demand amid rising employment and rising real wages. "Grow
  
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