Finance news

• Illinois budget woes reignite with spending deal's imminent lapse

  30-12-2016 23:45
  
  CHICAGO, Dec 30 (Reuters) - Illinois is poised to re-enter a
  budgetary limbo on Sunday with the expiration of temporary
  spending authority for the state's cash-strapped universities
  and fraying human...
  
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• BRIEF-22nd Century Group files for mixed shelf of up to $100 mln - SEC filing

  30-12-2016 23:30
  
  * 22nd Century Group Inc - files for mixed shelf of up to
  $100 million - SEC filingSource text: (http://bit.ly/2hDhBzA)
  Further company coverage:
  
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• BRIEF-Novavax Inc files for mixed shelf of upto $125 mln - SEC filing

  30-12-2016 23:29
  
  * Novavax Inc - files for mixed shelf of upto $125 million -
  SEC filingSource text: (http://bit.ly/2iyJ7uW)
  Further company coverage:
  
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• BRIEF-Park Hotels & Resorts its unit entered into credit agreement on Dec. 28, 2016

  30-12-2016 23:21
  
  * On December 28, 2016, co and its unit entered into credit
  agreement - sec filing
  
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• BRIEF-T-Mobile US- unit entered into new 3-year $2.5 bln revolving credit facility, $660 mln secured term loan facility

  30-12-2016 23:13
  
  * T-Mobile US Inc - unit entered into a new three-year $2.5
  billion revolving credit facility and a $660 million secured
  term loan facility
  
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• BRIEF-Lakeview Hotel Investment Corp amends credit agreement

  30-12-2016 23:06
  
  * Lakeview Hotel Investment Corp amends credit agreement and
  announces related party loan
  
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• US stocks end modestly lower on final trading day of 2016

  30-12-2016 23:05 via news.yahoo.com
  
  Investors capped a year of solid gains on Wall Street Friday in a selling mood, sending the major U.S. stock indexes modestly lower on the final trading day of 2016. Technology and consumer-focused stocks ...
  
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• Factbox: U.S. stock market performance in 2016

  30-12-2016 22:41 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks saw solid gains in 2016, buoyed by a post-election rally that fueled the Dow Jones Industrial Averageto its best performance since 2013 and while the S&P 500fell just short of a double-digit return. Below is a list of major indexes, sectors, and the S&P's best and worst performers for the year.
  
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• BRIEF-UCI International concludes financial restructuring process, emerges from Chapter 11

  30-12-2016 22:34
  
  * UCI International - co is now owned by management of
  blackrock financial management, Credit Suisse asset management,
  J.P. Morgan investment management
  
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• BRIEF-Energy XXI completes financial restructuring, emerges from Chapter 11

  30-12-2016 22:33
  
  * Energy XXI Ltd - has successfully completed its financial
  restructuring and emerged from Chapter 11
  
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• Wall Street ends solid 2016 on dour note

  30-12-2016 22:29 via news.yahoo.com
  
  U.S. stocks slumped on the last trading day of the year on Friday, led down by Apple and other big tech stocks, but major indexes still posted solid gains in 2016. In subdued holiday trading, the S&P 500 declined for a third consecutive session. The Dow Jones Industrial Average climbed 13.4 percent for 2016, even as it recorded its first weekly decline since the U.S. election on Nov. 8.
  
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• Greece's National Bank agrees sale of Bulgarian units to KBC Group

  30-12-2016 19:45
  
  ATHENS/SOFIA (Reuters) - National Bank of Greeceagreed to sell a 99.1 pct stake in its Bulgarian unit United Bulgarian Bank (UBB) and its fully-owned leasing subsidiary Interlease EAD to Belgian...
  
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• Dollar, oil and stocks look to end year with gains

  30-12-2016 19:11 via news.yahoo.com
  
  The dollar was on pace for a fourth straight year of gains against a basket of major currencies, while oil prices were headed for their best year since 2009. Global markets have fared surprisingly well in a year marked by major political shocks, including June's Brexit vote and the unexpected election of Donald Trump as U.S. president in November. U.S. stocks slipped following weak economic data and a decline in technology stocks.
  
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• Renaissance Capital buys into carmaker Avtovaz, helping Renault

  30-12-2016 19:00
  
  MOSCOW/PARIS (Reuters) - Russia's Renaissance Capital has acquired a 24.1 percent stake in Russian carmaker Avtovazin a capital increase that also sees Renaulttighten its control over the...
  
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• Wall Street Week Ahead: Investors brace for 2017 shocks after surprise 2016 run

  30-12-2016 18:06 via news.yahoo.com
  
  By Lewis Krauskopf and Chuck Mikolajczak NEW YORK (Reuters) - After a late-year rally fueled by the U.S. election pushed stocks to surprising new peaks, investors are wary that the market could be primed for a spill to start 2017. From here, though, investors expect the S&P 500 to rise by mid-single-digits in 2017, according to a Reuters poll earlier this month. Meanwhile, a market lifted in part by hopes for Trump's policy agenda could be deflated should any of those hopes be dented once he
  
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• Factbox: Wall Street thinks stocks will rise in 2017 - What could go wrong?

  30-12-2016 18:06 via news.yahoo.com
  
  By Caroline Valetkevitch and Noel Randewich NEW YORK/SAN FRANCISCO (Reuters) - Wall Street's rally could be derailed by renewed worries about President-elect Donald Trump's policies, a resurgent dollar or potential wild-card events like cyber attacks or a trade war, investors say as they look to 2017. Stocks are at record highs on optimism Trump will boost the economy, and strategists in a recent Reuters poll expect more gains next year. Here are some potential roadblocks to more gains: TRUMP FA
  
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• Wall Street set to end 2016 with a whimper

  30-12-2016 18:04 via news.yahoo.com
  
  By Yashaswini Swamynathan (Reuters) - U.S. stocks fell on the last trading day of 2016, eating into gains for the year, following a decline in technology stocks. The S&P 500 technology sector's 0.7 percent fall put the broader index on track for its third straight day of losses - the longest losing streak since Nov. 4. The Dow Jones Industrial Average, which came within 13 points of breaching the 20,000 level last week, is now more than 200 points away from the milestone. "The market is endi
  
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• Wall St. set to end 2016 with a whimper

  30-12-2016 18:02 via news.yahoo.com
  
  Until Thursday, the three main Wall Street indexes were set to end the year with double-digit percentage gains, but Friday's losses made that unlikely for the S&P and the Nasdaq. The S&P was on track to rise 9.7 percent, the Nasdaq 7.8 percent and the Dow 13.7 percent for the year. The S&P 500 was down 5.71 points, or 0.25 percent, at 2,243.55, while the Nasdaq Composite Index was down 35.85 points, or 0.66 percent, at 5,396.24.
  
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• World markets end volatile year in the black

  30-12-2016 17:56 via news.yahoo.com
  
  Most world stock markets were finishing 2016 in positive territory despite shock votes in Britain and the United States, but the outlook for 2017 is clouded by looming European elections and Brexit. This year witnessed a wave of anti-establishment populism, which saw Britain vote to leave the EU and maverick billionaire businessman Donald Trump elected as US president. Both unexpected outcomes sparked a brief tumble on global equity markets -- but many have since staged a stunning recovery to fi
  
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• Wall Street flat on last trading day of 2016

  30-12-2016 16:00 via news.yahoo.com
  
  Wall Street was flat after the open on the last trading day of 2016 due to losses across most sectors, but was still on track to record hefty gains for the year. The S&P is on track to rise nearly 10 percent this year, the Nasdaq 8.3 percent and the Dow 13.7 percent. The markets have shown surprising resilience to major political events, such as Britain's vote in June to leave the European Union and the election of Donald Trump as U.S. president in November.
  
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• Wall St. flat on last trading day of 2016

  30-12-2016 15:58 via news.yahoo.com
  
  The S&P is on track to rise nearly 10 percent this year, the Nasdaq 8.3 percent and the Dow 13.7 percent. The markets have shown surprising resilience to major political events, such as Britain's vote in June to leave the European Union and the election of Donald Trump as U.S. president in November. "The prospects of growth took center stage this year, with investors hoping that the new political phenomenon will spur the economy," said Adam Sarhan, chief executive officer at 50 Park Investme
  
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• Wall Street opens higher on 2016's last trading day

  30-12-2016 15:35 via news.yahoo.com
  
  (Reuters) - U.S. stocks opened higher on the final trading day of the year, supported by gains in financial and technology stocks. The Dow Jones Industrial Average was up 31.13 points, or 0.16 percent, at 19,850.91, the S&P 500 was up 4.06 points, or 0.180504 percent, at 2,253.32 and the Nasdaq Composite was up 9.34 points, or 0.17 percent, at 5,441.43.
  
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• FTC seeks more info on Bass Pro-Cabela's deal

  30-12-2016 15:26
  
  (Reuters) - U.S. fishing and hunting equipment retailer Cabela's Inc , which is being bought by privately held rival Bass Pro Shops, said the Federal Trade Commission had sought more information from...
  
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• Britain's FTSE finishes 2016 in style, sets record high

  30-12-2016 15:09
  
  LONDON, Dec 30 (Reuters) - Britain's blue-chip FTSE 100
  index closed 2016 at a record high level on Friday, with
  a blistering rally in mining stocks and a sharp fall in sterling
  after June's shock...
  
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• Wall Street set to open higher on last trading day of 2016

  30-12-2016 15:02 via news.yahoo.com
  
  Wall Street aimed to end 2016 on a positive note, setting up the Dow for its best annual performance since 2013 amid increasing optimism about the outlook for the economy. The markets have shown surprising resilience to major political events, such as Britain's vote in June to leave the European Union and the election of Donald Trump as U.S. president in November. "The prospects of growth took center stage this year, with investors hoping that the new political phenomenon will spur the economy,"
  
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• Wall St. set to open higher on last trading day of 2016

  30-12-2016 15:01 via news.yahoo.com
  
  The markets have shown surprising resilience to major political events, such as Britain's vote in June to leave the European Union and the election of Donald Trump as U.S. president in November. "The prospects of growth took center stage this year, with investors hoping that the new political phenomenon will spur the economy," said Adam Sarhan, chief executive officer at 50 Park Investments in Orlando, Florida. Dow e-minis were up 43 points, or 0.22 percent at 8:22 a.m. ET, with 16,163 contracts
  
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• China stock markets among world's worst-performing in 2016

  30-12-2016 14:57 via news.yahoo.com
  
  China is the world's second-largest economy and has one of the fastest growth rates of any G20 nation, but its stock markets have been among the worst performing in the world this year. The benchmark Shanghai Composite Index (SCI) closed Friday down 12.3 percent for the year, compared to a rise of 0.4 for Japan's Nikkei 225, while Hong Kong's Hang Seng index also rose 0.4 percent. China was vying with debt-ridden Portugal for last place among the 40-plus countries tracked by Wall Street Journal'
  
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• Canadian stock futures edge higher as metal prices rise

  30-12-2016 13:35 via news.yahoo.com
  
  (Reuters) - Canadian stock futures edged higher on Friday, the last trading day of the year, helped by gains in metals prices. March futures on the S&P TSX index were up 0.03 percent at 7:15 a.m. ET. No economic data is scheduled for release. Canada's main stock index rose to its highest level since April 2015 on Thursday, helped by gold mining stocks. Dow Jones Industrial Average e-mini futures were up 0.13 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.17 percent and N
  
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• China policymakers pledge stability for 'complex' year ahead

  30-12-2016 13:31 via news.yahoo.com
  
  China's economy is on a steady growth path as 2016 ends, supported by a housing boom and billions in government investment, but the mood of policymakers is more cautious than celebratory as they face "complexity" in the new year. The central bank - while reaffirming a long-standing commitment to prudent policy - said on Friday it would pay more attention to maintaining a "neutral" stance and ensure that it is "neither too tight nor too loose". "At present, China's economic and financial operatio
  
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• Foxconn joint venture to build $8.8 billion LCD plant in China

  30-12-2016 13:03
  
  BEIJING (Reuters) - A joint venture between Hon Hai Precision Industry Co , known as Foxconn, and Sharp Corpplans to build a 61 billion yuan ($8.8 billion) factory in China to produce...
  
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• USAID ends funding for troubled Ukraine customs reform

  30-12-2016 12:46 via news.yahoo.com
  
  By Matthias Williams and Pavel Polityuk ODESSA, Ukraine (Reuters) - The U.S. Agency for International Development (USAID) has ended funding for a flagship customs reform project in Ukraine's Odessa region, as the government's ambitious plans to tackle bribe-taking at its Black Sea ports stalled. USAID and other institutions have supported Kiev's Western-backed government, which took power after the 2014 Maidan street protests, to fight endemic corruption and put an economy battered by an ongoing
  
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• China's Midea receives U.S. green light for Kuka takeover

  30-12-2016 12:13
  
  FRANKFURT (Reuters) - China's Mideasaid it will complete its takeover of German robotics maker Kukain the first half of January after the United States authorities gave the deal a green light.
  
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• Asia Pac loans hit three-year low despite Chinese M&A boom

  30-12-2016 11:26 via news.yahoo.com
  
  By Prakash Chakravarti HONG KONG (LPC) - Syndicated loan volumes in Asia Pacific, excluding Japan, fell for the second consecutive year slipping to a three-year low of US$463.8bn in 2016 as slower economic growth and geopolitical turbulence curtailed bank lending despite a surge in M&A activity from China that boosted North Asian loans. China, Asia’s largest syndicated loan market, (ex-Japan), led the market with a wave of event-driven financings backing China Inc’s overseas acqu
  
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• Global stock markets mixed on final trading day of 2016

  30-12-2016 09:30 via news.yahoo.com
  
  Global stock markets were mixed Friday with little economic news to move the final trading day of 2016. KEEPING SCORE: Britain's FTSE 100 fell 0.2 percent to 7,104.81. France's CAC 40 declined 0.2 percent ...
  
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• Asia stocks to end 2016 on buoyant note, oil set for biggest gains since 2009

  30-12-2016 08:22 via news.yahoo.com
  
  By Nichola Saminather SINGAPORE (Reuters) - Asian stocks looked set to end 2016 on an upbeat note, with the benchmark headed for its first annual gain in three years, while the dollar reversed earlier losses and oil was poised to record its biggest gains in seven years. European stocks are set for a more subdued start, with financial spreadbetter IG Markets expecting Britain's FTSE 100 to open marginally lower, France's CAC 40 to start the day fractionally higher, and Germany's DAX to climb abou
  
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• Asian stock markets mixed on final trading day of 2016

  30-12-2016 07:54 via news.yahoo.com
  
  Asian stock markets were mixed Friday with little economic news to move the markets on the final trading day of 2016. KEEPING SCORE: Japan's Nikkei 225 fell 0.2 percent to 19,114.37 and Hong Kong's Hang ...
  
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• Egypt's current account deficit at $4.98 billion in Q1 2016/17

  30-12-2016 07:48 via news.yahoo.com
  
  Egypt's current account deficit widened to $4.98 billion in the first quarter of the 2016/17 financial year from a deficit of $4.0 billion in the same period a year earlier, the central bank said in a statement on Thursday. Egypt's economy is struggling to recover after a mass uprising in 2011 that drove away tourists and foreign investors and created a shortage of foreign currency that has sapped its ability to purchase from abroad and revive key industries. The growth in the current account de
  
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• China vows to open up economy as investment declines

  30-12-2016 07:31 via news.yahoo.com
  
  Beijing has pledged to open up more economic sectors to foreign investment, an official statement said, as foreign chambers of commerce complain of a worsening business environment in the country. China will “unwaveringly insist on the opening-up policy” and “create fair competition environment by treating foreign and domestic funds as the same”, the State Council, China's cabinet, said in a statement late Thursday after a meeting hosted by Premier Li Keqiang. Foreign dir
  
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• Duterte delegates Philippines into economic sweet spot but misgivings rising

  30-12-2016 07:30 via news.yahoo.com
  
  By Neil Jerome Morales and Martin Petty MANILA (Reuters) - After six months at the helm in the Philippines, Rodrigo Duterte has been touting just two achievements of his presidency - a vicious war on drugs and a surprise alliance with his country's bitter rival, China. Advisers say Duterte's economic successes come from using a strategy he honed as the long-time mayor of Davao City at a national level. By his own admission, Duterte says he is no expert on the economy and leaves it to "the bright
  
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• China's Huawei sees slower revenue growth for 2016

  30-12-2016 06:41 via news.yahoo.com
  
  China's Huawei Technologies Co Ltd [HWT.UL], one of the world's largest telecom equipment makers, said on Friday it expects 2016 revenue growth to slow slightly to 32 percent and forecast greater uncertainties next year. The Shenzhen-based company, which competes with Sweden's Ericsson for the top spot in the global market for telecoms equipment, sees 2016 revenue hitting 520 billion yuan ($74.8 billion), said Eric Xu, Huawei's rotating chief executive. The expected growth rate for this year rep
  
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• Takata stock jumps for 2nd day on possible U.S. criminal probe settlement

  30-12-2016 05:10
  
  TOKYO, Dec 30 (Reuters) - Shares in Takata Corp,
  the airbag maker at the centre of the world's largest automotive
  recall, jumped by a fifth on Friday, surging for a second
  straight day, on news that...
  
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• Asia stocks to end 2016 on buoyant note, euro calms after early spike

  30-12-2016 04:59 via news.yahoo.com
  
  MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 percent on Friday, diverging from Wall Street, which posted slight declines overnight. In a year marked by major political surprises, including Brexit in June and the unexpected election of political novice Donald Trump as U.S. President in November, Asia Pacific ex-Japan stocks are poised to record a 3.8 percent gain. Despite the modest figure -- the Dow Jones Industrial Average, in contrast, is up a whopping 14 percent -- that
  
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• China stockmarkets among world's worst in 2016

  30-12-2016 04:51 via news.yahoo.com
  
  China is the world's second-largest economy and has one of the fastest growth rates of any G20 nation, but its stock markets have been among the worst performing in the world this year. The benchmark Shanghai Composite Index (SCI) struggled towards the finish line Thursday down 12.5 percent for the year, compared to falls of 0.6 percent by the Hang Seng Index in Hong Kong and 2.2 percent for Japan’s Nikkei 300.
  
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• Benefits of Indian cash overhaul elusive as deadline passes

  30-12-2016 02:40 via news.yahoo.com
  
  NEW DELHI (AP) — Fifty days ago, India yanked most of its currency from circulation without warning, jolting the economy and leaving most citizens scrambling for cash. As the deadline for exchanging the devalued 500- and 1,000-rupee notes for new ones hits Friday, many Indians are still stuck waiting in long bank lines.
  
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• Bankers cautious on outlook for global equity deals after 2016 slide

  30-12-2016 01:08
  
  LONDON (Reuters) - Global equity raising fell by more than a quarter in 2016, data showed on Friday, hit by geopolitical shocks and a string of failed initial public offerings (IPOs), with the...
  
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• Britain avoids M&A collapse as foreign buyers go Brexit bargain hunting

  30-12-2016 01:04
  
  LONDON (Reuters) - Britain avoided a collapse in mergers and acquisitions activity after the shock Brexit vote as foreign companies used sterling's spectacular devaluation against the U.S. dollar to...
  
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• The hedge fund managers to watch next year

  30-12-2016 01:00
  
  For many hedge fund managers, 2016 was a year to forget; here are some that are worth keeping an eye on in 2017
  
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• The hedge fund managers to watch in 2017

  30-12-2016 01:00
  
  For many hedge fund managers, 2016 was a year to forget; here are some that are worth keeping an eye on in 2017
  
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• Liquidity drought may be easing in Europe's corporate bond market

  30-12-2016 01:00
  
  Recovery in dealer quote depth suggests central banks' bond-purchases have helped to boost liquidity
  
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• Icap completes sale of voice-broking arm to Tullett Prebon

  30-12-2016 01:00
  
  Deal marks a new beginning for both companies little over a year after they agreed the £1.1bn deal
  
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