Finance news

• UPDATE 2-Caesars unit resolves lender dispute, eyes bankruptcy exit

  23-12-2016 23:56
  
  CHICAGO, Dec 23 (Reuters) - Caesars Entertainment Corp's
  bankrupt operating unit resolved a dispute with its
  lenders on Friday, paving the way for a consensual plan to push
  the casino group out of...
  
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• BRIEF-Laramide Resources increases financing and provides update

  23-12-2016 23:42
  
  * Increased size of non-brokered private placement from up
  to 12 million units to up to 14.5 million units of co at C$0.30
  per unit
  
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• BRIEF-Mylan unit enters into amendment and waiver agreement to loan agreement dated as of September 17, 2014

  23-12-2016 23:34
  
  * On dec 22, unit of Co entered into amendment and waiver
  agreement to loan agreement dated as of September 17, 2014 - SEC
  filing
  
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• BRIEF-Lion Biotech files for mixed shelf of up to $100 mln

  23-12-2016 23:34
  
  * Lion Biotechnologies Inc - files for mixed shelf of up to
  $100 million - SEC filingSource text: (http://bit.ly/2hRk48l)
  Further company coverage:
  
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• BRIEF-Stuart Olson announces amendment to its revolving credit facility

  23-12-2016 23:33
  
  * Negotiated a minor amendment to its revolving credit
  facility by changing required interest coverage ratio covenant
  
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• BRIEF-Choice Properties announces redemption of $200 mln of 3.00 pct series 6 debentures

  23-12-2016 23:28
  
  Dec 23 (Reuters) - Choice Properties Real Estate Investment
  Trust
  
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• BRIEF-Caesars entertainment bankrupt unit's lenders withdraw plans to reject restructuring - court document

  23-12-2016 23:04
  
  * Bankrupt unit's lenders withdraw plans to reject
  restructuring - court documentSource text for Eikon:Further company coverage:
  
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• Venezuela's PDVSA uses 49.9 pct Citgo stake as loan collateral

  23-12-2016 22:49
  
  CARACAS, Dec 23 (Reuters) - Venezuelan state oil company
  PDVSA said on Friday it has used 49.9 percent of its
  shares in U.S. subsidiary Citgo as collateral for
  loan financing, two months after having...
  
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• BRIEF-Hilton grand vacations indirect subsidiary drew down $300 mln under receivables loan agreement

  23-12-2016 22:49
  
  * Remaining $70 million of proceeds will be distributed to
  Hilton parent prior to consummation of spin-off of Co from
  Hilton parent
  
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• Wall Street rises, Dow racks up seventh straight weekly gain

  23-12-2016 22:39 via news.yahoo.com
  
  Wall Street ended the week on a positive note on Friday as investors doubled down on a rally fuelled by optimism that President-elect Donald Trump's policies will boost economic growth. The Dow Jones Industrial Average, which briefly came within striking distance of the historic 20,000 level earlier this week, recorded its seventh straight weekly gain. Following a rally since the Nov. 8 U.S. election, the Dow is up about 14 percent for the year and the S&P 500 is 11 percent higher on bets th
  
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• Wall St. rises, Dow racks up seventh straight weekly gain

  23-12-2016 22:38 via news.yahoo.com
  
  The Dow Jones Industrial Average, which briefly came within striking distance of the historic 20,000 level earlier this week, recorded its seventh straight weekly gain. Following a rally since the Nov. 8 U.S. election, the Dow is up about 14 percent for the year and the S&P 500 is 11 percent higher on bets that the economy will benefit from Trump's plans for deregulation and infrastructure spending. Additional gains will depend on how quickly and successfully Trump can deliver on his promise
  
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• US stocks inch higher in slow pre-holiday trading

  23-12-2016 22:37 via news.yahoo.com
  
  NEW YORK (AP) — Wall Street traders sometimes root for year-end "Santa Claus rallies," but on Friday, hardly a creature was stirring as stocks finished slightly higher on the quietest full day of trading in more than a year. Health care companies brought in most of the gains.
  
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• Speculative Eurodollar net shorts fall from record high: CFTC

  23-12-2016 22:36
  
  (Reuters) - Speculators dialed back their net bearish bets on Eurodollar futures from record highs after the Federal Reserve as expected raised interest rates last week, according to Commodity...
  
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• Stock Trades by Trump’s Top Health Care Reformer Raise Some Swampy Questions

  23-12-2016 22:02 via news.yahoo.com
  
  Rep. Tom Price (R-GA), President-elect Donald Trump’s choice for secretary of health and human services, traded more than $300,000 in shares of health-related companies over the past four years, even while sponsoring major legislation that could affect those companies. Price, one of the leading opponents of the Affordable Care Act, bought and sold stock in roughly 40 health care, pharmaceutical and biomedical companies since 2012, according to an analysis by The Wall Street Journal.
  
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• Peabody Energy reorganization plan lacks mine cleanup coverage details

  23-12-2016 21:40
  
  CHICAGO, Dec 23 (Reuters) - Peabody Energy Corpfailed to explain how it will cover future mine cleanup costs in
  a reorganization plan filed late Thursday, triggering concerns
  over the company's use...
  
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• U.S. Justice Dept. orders whistleblower to testify in Wells Fargo probe

  23-12-2016 21:31
  
  (Reuters) - The U.S. Department of Justice has subpoenaed a high-profile whistleblower in its criminal investigation into Wells Fargo & Co'sopening of accounts without customer permission.
  
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• BRIEF-Basic energy services successfully completes prepackaged restructuring, emerges from chapter 11

  23-12-2016 20:54
  
  * Basic Energy Services successfully completes prepackaged
  restructuring and emerges from Chapter 11 with $125 million of
  new capital and debt level reduced by $775 million
  
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• UPDATE 2-Orascom aims for two of nine seats on board of Brazil's Oi

  23-12-2016 20:32
  
  SAO PAULO, Dec 23 (Reuters) - Orascom TMT Investments SARL
  will have two of nine seats on Oi SA's board if its
  binding offer to buy the Brazilian telephone carrier succeeds,
  Karim Nasr, the executive...
  
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• Wall Street takes a breather after steep Trump rally

  23-12-2016 20:30 via news.yahoo.com
  
  The Dow Jones Industrial Average, which briefly came within striking distance of the historic 20,000 level earlier this week, was set to record its seventh straight weekly gain. Following a sharp rally since the Nov. 8 U.S. election, the Dow is up about 14 percent for the year and the S&P 500 is 11 percent higher on bets that the economy will benefit from President-elect Donald Trump's plans for deregulation and infrastructure spending. Additional gains will depend on how quickly and success
  
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• Caesars unit's creditors agree new recovery terms - court filing

  23-12-2016 20:17
  
  CHICAGO, Dec 23 (Reuters) - Creditors of Caesars
  Entertainment Corp's bankrupt operating unit have
  reached an agreement to revise the terms of their recoveries,
  according to a filing with the U.S....
  
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• Corruption probe clouds survival of Brazil's transition leader

  23-12-2016 19:28 via news.yahoo.com
  
  By Anthony Boadle BRASILIA (Reuters) - Corruption allegations implicating Brazilian President Michel Temer and his party are casting doubt on his ability to remain in office and causing the first cracks in his coalition amid growing calls for early elections. Allegations that Temer and members of his inner circle solicited illegal funds for his 2014 vice presidential campaign threaten to undermine a solid majority in Congress that put him in office by impeaching leftist Dilma Rousseff in August.
  
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• U.S. housing, consumer confidence data bolster economic outlook

  23-12-2016 19:07 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - New U.S. single-family home sales rose more than expected in November and consumer sentiment hovered near a 13-year high this month, strengthening the view that the economy will gain further momentum next year. President-elect Donald Trump's plan to cut taxes and increase infrastructure spending is expected to boost economic growth, though it already has sparked a surge in mortgage rates that could hurt the housing market in the long term.
  
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• Weaker Canadian economy in October sets stage for slowdown

  23-12-2016 19:02 via news.yahoo.com
  
  By Leah Schnurr OTTAWA (Reuters) - The Canadian economy contracted in October as the manufacturing sector saw its biggest decline in nearly three years, raising the risk fourth-quarter growth could slow more than the Bank of Canada anticipates. The gross domestic product fell 0.3 percent in October, data from Statistics Canada showed on Friday, below economists' expectations for no growth. Although the fourth-quarter is still tracking at around 1.5 percent, which is what the Bank of Canada expec
  
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• Banks in focus as world stocks drift into Xmas break

  23-12-2016 18:19 via news.yahoo.com
  
  London (AFP) - European stocks and Wall Street traded flat Friday on a quiet last trading day before Christmas, with banks topping the agenda after huge US fines and a bailout in Italy.
  
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• Deutsche, Credit Suisse to compensate consumers post-crisis

  23-12-2016 18:02 via news.yahoo.com
  
  Nine years after the collapse of the U.S. housing market sent shockwaves through the global economy, two European banks have agreed to offer American homeowners and borrowers billions of dollars' worth ...
  
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• China fines GM venture $29 million for monopolistic pricing: state TV

  23-12-2016 17:41
  
  BEIJING (Reuters) - China will fine U.S. automaker General Motors Co'sjoint venture 201 million yuan ($29 million) for monopolistic pricing, state television reported on Friday, ending speculation...
  
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• Wall Street flat; All three indexes set for weekly gains

  23-12-2016 17:28 via news.yahoo.com
  
  The Dow Jones Industrial Average, which came within spitting distance of the historic 20,000 mark earlier this week, looked set to record its seventh straight weekly gains. "There's really nothing to move the market one way or another," said Mohannad Aama, managing director at Beam Capital Management in New York. Following a sharp rally since the Nov. 8 U.S. election, the Dow is up about 14 percent for the year and the S&P 500 is 11 percent higher on bets that the economy will benefit from T
  
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• UPDATE 1-Bonanza Creek, other U.S. energy firms announce Chapter 11 plans

  23-12-2016 17:28
  
  Dec 23 (Reuters) - Bonanza Creek Energy Inc and two
  other energy firms announced on Friday plans to file for
  bankruptcy in coming weeks, joining a long list of U.S. energy
  companies that have...
  
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• U.S. new home sales jump to four-month high

  23-12-2016 16:39 via news.yahoo.com
  
  New U.S. single-family home sales rose more than forecast to a four-month high in November, likely as expectations of higher mortgage rates drew buyers into the market. Other data on Friday showed consumer sentiment holding at near a 13-year high this month as Americans anticipated that a stronger economy would create more jobs. The Commerce Department said new home sales increased 5.2 percent to a seasonally adjusted annual rate of 592,000 units last month.
  
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• Vivendi CEO says stake in Mediaset makes pay TV deal even more desirable

  23-12-2016 16:32
  
  ROME (Reuters) - Vivendi has "all the more reason" to find an accord with Italy's Mediasetover a collapsed pay-TV deal now that it has become the second biggest investor in the broadcaster, the...
  
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• Global stocks little changed, dollar near 14-year peak in thin trading

  23-12-2016 16:28 via news.yahoo.com
  
  Key stock indexes around the world were little changed, as were the dollar and U.S. Treasury yields, in thin trading ahead of a holiday weekend for Christmas. U.S. Treasury prices were slightly firmer in thin volumes as investors awaited economic data due to be released ahead of an extended holiday weekend. “We’re a little stronger, the curve is a little flatter, but volume has been anemic,” said Justin Lederer, an interest rate strategist at Cantor Fitzgerald in New York.
  
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• Banks in focus as world stocks drift into Christmas break

  23-12-2016 16:22 via news.yahoo.com
  
  Europe's stock markets and Wall Street were broadly stable Friday on a quiet last trading day before Christmas, with banks topping the agenda after huge US fines and a bailout in Italy. London closed marginally higher in a half-day session, as upwardly-revised data showed the British economy grew 0.6 percent in the third quarter despite Brexit jitters. In the eurozone, Frankfurt and Paris hovered around either side of unchanged, but Milan jumped nearly one percent on relief over a state rescue o
  
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• Wall Street Week Ahead - Stocks could suffer as Trump trade policy takes shape

  23-12-2016 16:10 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - The year-end stocks rally on the heels of the election of Donald Trump as U.S. president was built on expectations of reduced regulations, big tax cuts and a large fiscal stimulus. Now signs are emerging from the Trump camp that harsher trade policies that could jeopardize the honeymoon are likely in the offing, and investors would be well advised to give those prospects more weight when gauging how much further an already pricey market has to run. By namin
  
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• U.S. new home sales rise to four-month high

  23-12-2016 16:08 via news.yahoo.com
  
  New U.S. single-family home sales rose more than expected in November, reaching their highest level in four months, likely as expectations of higher mortgage rates drew buyers into the market. The Commerce Department said on Friday new home sales increased 5.2 percent to a seasonally adjusted annual rate of 592,000 units last month. October's sales pace was unrevised at 563,000 units.
  
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• How JPMorgan could not save Italy's problem bank

  23-12-2016 16:02
  
  MILAN/LONDON (Reuters) - On the morning of July 29, former Italian Industry Minister Corrado Passera was traveling in a high-speed train towards the medieval city of Siena, racing to meet the...
  
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• Weaker Canadian economy in October sets stage for slowdown in fourth quarter

  23-12-2016 15:52 via news.yahoo.com
  
  The gross domestic product was down 0.3 percent in October, data from Statistics Canada showed on Friday, falling below economists' expectations for no growth. The Bank of Canada was likely to maintain its dovish stance in view of the disappointing growth figures. "I think the Bank of Canada continues to highlight that there is quite a bit of slack still remaining in the economy," said Nick Exarhos, an economist at CIBC Capital Markets.
  
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• Wall Street opens little changed in light trading

  23-12-2016 15:52 via news.yahoo.com
  
  U.S. stocks fell on Thursday, weighed down by weakness in retailers as investors stepped back from a recent rally fueled by optimism that President-elect Donald Trump's policies will boost the economy. The decline pulled the Dow Jones Industrial Average further away from the 20,000 mark after it came very close to breaching the historic level this week. Following a sharp rally since the Nov. 8 U.S. election, the Dow is up about 14 percent for the year and the S&P 500 is 11 percent higher on
  
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• Savanna Energy rejects Total Energy Services' buyout offer

  23-12-2016 15:48
  
  (Reuters) - Savanna Energy Services Corpsaid on Friday its board unanimously rejected an unsolicited buyout offer from fellow oilfield services provider Total Energy Services Incas it...
  
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• Bonanza Creek Energy to file for bankruptcy

  23-12-2016 15:16
  
  Dec 23 (Reuters) - Oil and gas producer Bonanza Creek Energy
  said it would file for bankruptcy on or before Jan. 5,
  joining a long list of energy companies that have succumbed to a
  drop in oil...
  
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• Canada October GDP declines on lower manufacturing output

  23-12-2016 14:32 via news.yahoo.com
  
  (Reuters) - Canada's economy shrank 0.3 percent in October, down from an increase of 0.4 percent in September, Statistics Canada said on Friday. The decline comes after four consecutive months of growth, and was led by widespread decreases in manufacturing output and lower oil and gas extraction. (Changes in percent) Oct Sept(rev) Sept(prev) Oct yr/yr All industries -0.3 +0.4 +0.3 +1.5 Goods -1.3 +1.2 +1.1 +0.5 Services +0.1 +0.1 +0.1 +1.9 NOTE - All figures are seasonally adjusted. Analysts in
  
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• BRIEF-Bonanza Creek Energy announces agreement on comprehensive deleveraging, recapitalization

  23-12-2016 14:32
  
  * Bonanza Creek Energy announces agreement on comprehensive
  deleveraging and recapitalization
  
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• Putin says ready to visit U.S. if Trump invites him: RIA

  23-12-2016 14:23 via news.yahoo.com
  
  Russian President Vladimir Putin said on Friday he expected U.S. -Russia relations to return to normal and was ready to visit the United States if President-elect Donald Trump invited him. "If Trump invites me to travel to the United States, I will of course go," Putin was quoted by the RIA news agency as saying. "(I expect) a change in our relations and a return to normal inter-governmental interaction in order to resolve the problems that face our country and the world, in the first instance i
  
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• Icahn regulatory role gives activist investors strong Washington voice

  23-12-2016 14:17
  
  NEW YORK/WASHINGTON/BOSTON (Reuters) - U.S. chief executives, already wrestling with a steady flow of activist investors in their board rooms, face a newly challenging landscape now that the loudest...
  
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• Kenya Q3 2016 GDP growth at 5.7 pct

  23-12-2016 14:02 via news.yahoo.com
  
  NAIROBI (Reuters) - Kenya's economy expanded by 5.7 percent year-on-year in the third quarter compared with 6.0 percent in the same period in 2015, the statistics office said on Friday. (Reporting by Aaron Maasho)
  
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• Britain's FTSE steadies, RBS and Barclays diverge on U.S. settlement updates

  23-12-2016 13:54
  
  LONDON, Dec 23 (Reuters) - Britain's top shares held roughly
  steady in a shortened session on Friday, with RBS and
  Barclays heading in opposite directions following the
  latest developments in a U.S....
  
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• Analysis - How Deutsche's big bet on Wall Street turned toxic

  23-12-2016 13:54 via news.yahoo.com
  
  By Edward Taylor FRANKFURT (Reuters) - Deutsche Bank's pursuit of success on Wall Street has come at a high price, a $7 billion (5.71 billion pounds) plus penalty illustrating the extent of its decline since 2008 when its then chief executive claimed it was one of the "strongest banks in the world". Expanding from its roots in Germany dating back to 1870, Deutsche transformed itself into a major player on Wall Street over the past two decades, often taking extravagant bets to do so. "The strateg
  
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• UK economy sidesteps Brexit vote hit, 2017 outlook darker

  23-12-2016 13:37 via news.yahoo.com
  
  By Andy Bruce and David Milliken LONDON (Reuters) - British consumers brushed off June's Brexit vote and drove the economy to expand faster than expected in the third quarter, but a hefty current account gap and weaker trade and investment raised warning flags for 2017. The economy grew by 0.6 percent in the three months to September, above its long-run average and beating expectations in a Reuters poll of economists who expected the Office for National Statistics to stick with its earlier estim
  
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• U.S. hits Credit Suisse, Deutsche Bank with toxic debt penalties

  23-12-2016 12:48 via news.yahoo.com
  
  By Michael Shields and Arno Schuetze ZURICH/FRANKFURT (Reuters) - Credit Suisse and Deutsche Bank have been hit with a combined penalty of more than $12 billion over the sale of U.S. toxic debt, further hampering two of Europe's leading investment banks as they struggle with weak earnings. The penalties stem from an initiative launched by U.S. President Barack Obama to pursue banks for selling sub-prime debt without warning of the risks, a practice that led to the worst economic crisis since the
  
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• Italy to bail out Monte dei Paschi in Xmas cheer for savers

  23-12-2016 12:39 via news.yahoo.com
  
  Italy on Friday approved a state-funded rescue of the world's oldest bank, Monte dei Paschi di Siena (BMPS), in a bid to shore up the country's beleaguered financial system. The rescue plan will come as a relief for investors in Italy's third largest bank but it is also fraught with political and economic complications for a centre-left government preparing for an election in the next 15 months. A cabinet meeting that concluded in the early hours issued a green light for the cash-strapped state
  
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• BRIEF-China National Materials updates on second Civil Verdict

  23-12-2016 12:31
  
  * Impact of matter on profit and loss of sinoma
  international in year of 2016 is approximately rmb143 million
  
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