Finance news

• CBS signs deal to be on Hulu's live-streaming platform

  04-01-2017 23:24
  
  (Reuters) - CBS Corp has signed a deal to have its broadcast network and some cable programming on Hulu's live streaming service, which is expected to go live this year, the companies said Wednesday.
  
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• Deutsche Bank to pay $95 million to end U.S. tax fraud case

  04-01-2017 23:16 via news.yahoo.com
  
  Deutsche Bank AG agreed to pay $95 million to resolve a U.S. government lawsuit accusing the German bank of tax fraud for using "insolvent" shell companies to hide significant tax liabilities from the Internal Revenue Service in 2000. Under the accord described in papers filed on Wednesday with the federal court in Manhattan, Deutsche Bank also admitted to trying to stick the shell companies with the tax bill for its then-new stake in drugmaker Bristol-Myers Squibb Co . "The government, through
  
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• Wall Street climbs; Fed minutes confirm inflation jitters

  04-01-2017 22:48 via news.yahoo.com
  
  U.S. stocks have surged over the past two months on expectations that Trump will stimulate the economy with tax cuts and infrastructure spending and eliminate regulations in the financial industry. "Clearly, some of the members on the committee are taking a look at proposed fiscal changes, whether that's tax cuts or infrastructure spending,” said Chris Zaccarelli, Chief Investment Officer for Cornerstone Financial Partners. With just over two weeks left before Trump takes office, and the D
  
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• Boeing wins $8.8 billion in 737 MAX orders, still short of goal

  04-01-2017 22:47
  
  SEATTLE (Reuters) - Boeing Cosaid on Wednesday it had booked firm orders for 80 of its 737 MAX 8 aircraft, valued at $8.8 billion at list prices, upping its 2016 tally but leaving it short of its...
  
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• Apple confirms $1 billion investment in SoftBank tech fund

  04-01-2017 22:28
  
  (Reuters) - Apple Incconfirmed on Wednesday its plans to invest $1 billion in a tech fund being set up by Japan's SoftBank Group Corp .
  
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• Trump's SEC pick Clayton points to capital formation, not enforcement

  04-01-2017 22:20 via news.yahoo.com
  
  With his selection of deal-making attorney Walter "Jay" Clayton to head the U.S. Securities and Exchange Commission, President-elect Donald Trump is signaling that the agency will try to reduce regulations that critics see as burdensome or hindering corporate growth. Trump announced on Wednesday that he intends to nominate Clayton, a partner in the New York office of law firm Sullivan & Cromwell, to lead the agency that polices and regulates Wall Street. Clayton specializes in public and pri
  
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• Dollar retreats from 14-year highs, investors unpack Fed minutes

  04-01-2017 22:00 via news.yahoo.com
  
  The dollar fell against the euro and yen on Wednesday, backing off a 14-year high against a basket of currencies with investors cautious about increasing bets on the greenback without fresh clues on the U.S. economy and the timing of interest rate increases. Minutes from the Federal Open Market Committee's December meeting that warned of growing inflationary risks from President-elect Donald Trump's proposed fiscal stimulus measures undercut the dollar and pushed the euro to $1.0499, its highest
  
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• Transmar's U.S. cocoa unit files for bankruptcy

  04-01-2017 21:56
  
  NEW YORK, Jan 4 (Reuters) - The U.S. unit of Transmar Group
  Ltd has filed for bankruptcy protection just weeks after the
  parent company's European operation declared insolvency
  following...
  
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• Stocks hold gains after Fed minutes; dollar down

  04-01-2017 21:25 via news.yahoo.com
  
  By Saqib Iqbal Ahmed NEW YORK (Reuters) - Stock indexes around the world gained on Wednesday, bolstered by upbeat global economic data and by minutes from the Federal Reserve's December meeting, which showed policymakers thought the U.S. economy could grow more quickly because of fiscal stimulus under the Trump administration. The minutes showed how broadly views within the Fed are shifting in response to U.S. President-elect Donald Trump's promises of tax cuts, infrastructure spending and dereg
  
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• Fed minutes: If economy heats up, rate hikes may accelerate

  04-01-2017 20:44 via news.yahoo.com
  
  WASHINGTON (AP) — Federal Reserve officials, who boosted a key interest rate last month, said they might need to accelerate future rate hikes if a faster-growing economy pushes down the unemployment rate farther than currently expected.
  
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• Wall Street keep gains after release of Fed minutes

  04-01-2017 20:36 via news.yahoo.com
  
  U.S. stocks have surged over the past two months on expectations that Trump will stimulate the economy with tax cuts and infrastructure spending, and eliminate regulations in the financial industry. "Clearly, some of the members on the committee are taking a look at proposed fiscal changes, whether that's tax cuts or infrastructure spending,” said Chris Zaccarelli, Chief Investment Officer for Cornerstone Financial Partners. With just over two weeks left before Trump takes office, and the
  
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• Fed policymakers agree Trump fiscal boost poses inflation risk

  04-01-2017 20:31 via news.yahoo.com
  
  Almost all Federal Reserve policymakers thought the economy could grow more quickly because of fiscal stimulus under the Trump administration and many were eyeing faster interest rate increases, minutes from the central bank's December meeting showed. The minutes, released on Wednesday, showed how broadly views within the Fed are shifting in response to President-elect Donald Trump's promises of tax cuts, infrastructure spending and deregulation. Such changes could boost inflation and might set
  
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• BRIEF-Ultrapetrol extends consent solicitation

  04-01-2017 20:13
  
  * Ultrapetrol (bahamas) -deadline by which co must receive
  consents on a resolution of its shareholders to approve a
  substantial sale of its assets extended
  
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• Investors hold fewest net shorts on U.S. Treasuries since November: JPM

  04-01-2017 19:42
  
  NEW YORK (Reuters) - The margin on bearish bets on longer-dated U.S. Treasuries over bullish positions shrank to its smallest since late November as bargain-minded investors emerged after the recent...
  
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• Trump names Wall Street lawyer Clayton as SEC chairman

  04-01-2017 19:32 via news.yahoo.com
  
  WASHINGTON (AP) — President-elect Donald Trump on Wednesday chose a Wall Street attorney with experience in corporate mergers and public stock launches as his nominee to head the Securities and Exchange Commission.
  
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• Puerto Rico seeks proposals for legal, financial advisers

  04-01-2017 19:28
  
  NEW YORK, Jan 4 (Reuters) - Puerto Rico's new governor
  wasted no time seeking advisers to help the island restructure
  $70 billion in debt, requesting late on Tuesday that firms
  submit their...
  
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• N.Y. pension fund manager pleads not guilty to pay-to-play scheme

  04-01-2017 19:23
  
  NEW YORK (Reuters) - A former portfolio manager at New York state's retirement fund pleaded not guilty on Wednesday to charges that he steered $2 billion in trades to two brokerages in exchange for...
  
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• Discretionary stocks lift Wall Street, Fed minutes awaited

  04-01-2017 18:55 via news.yahoo.com
  
  Wall Street extended its gains into the second trading day of the new year, supported by consumer discretionary stocks, as investors awaited minutes of the Federal Reserve's December meeting where it raised interest rates. With just over two weeks left before President-elect Donald Trump takes office, investors are on the watch for more details on his proposed policies such as tax cuts and higher fiscal spending. At 12:22 p.m. ET (1722 GMT), the Dow Jones Industrial Average was up 44 points, or
  
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• GM December U.S. sales up 10 percent, sees record for industry in 2016

  04-01-2017 18:35 via news.yahoo.com
  
  General Motors Co on Wednesday reported an unexpected 10 percent rise in December U.S. auto sales while Ford Motor Co also beat forecasts, indicating that 2016 results will beat a record high set in 2015. “Key economic indicators, especially consumer confidence, continue to reflect optimism about the U.S. economy, and strong customer demand continues to drive a very healthy U.S. auto industry,” said Mustafa Mohatarem, GM’s chief economist.
  
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• Charities alarmed as aid spending from poor countries to refugees

  04-01-2017 18:33 via news.yahoo.com
  
  By Lin Taylor LONDON (Thomson Reuters Foundation) - Charities have criticized donor governments for shifting aid money from poor countries and spending more on dealing with refugees at home after overall development aid hit a new high in 2015. Official development assistance (ODA) reached a record $131.4 billion in 2015, a rise of 6.6 percent in real terms from 2014, according to Organisation for Economic Co-operation and Development (OECD) figures released on Wednesday. Of that total, $12.1 bil
  
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• UniCredit investor Cariverona still undecided on cash call: source

  04-01-2017 18:06
  
  MILAN (Reuters) - The Cariverona foundation has still not made up its mind whether it will underwrite the 13 billion euro ($13.6 billion) rights issue of Italy's UniCredit , a foundation source said...
  
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• European equities mark time before Fed minutes

  04-01-2017 18:06 via news.yahoo.com
  
  European stock markets drifted Wednesday as traders awaited clues from the Federal Reserve on the outlook for US interest rates. In the eurozone, Frankfurt's DAX 30 index and the Paris CAC 40 both ended the day unchanged. "The Federal Reserve raised interest rates for only the second time in a decade in December and the only time in 2016 but warned that three more (rate hikes) could follow this year," noted Craig Erlam, senior market analyst at Oanda trading group.
  
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• Trump to nominate Wall Street lawyer Clayton to lead SEC

  04-01-2017 17:53 via news.yahoo.com
  
  President-elect Donald Trump said on Wednesday he intends to nominate Walter "Jay" Clayton, an attorney who advises clients on major Wall Street deals, to lead the U.S. Securities and Exchange Commission. "Jay Clayton is a highly talented expert on many aspects of financial and regulatory law, and he will ensure our financial institutions can thrive and create jobs while playing by the rules at the same time," Trump in a statement. "We need to undo many regulations which have stifled i
  
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• Robey Warshaw profits soar in another year of blockbuster deals

  04-01-2017 17:47
  
  Rainmakers Simon Robey and Simon Warshaw saw revenues and profits almost double in their firm's most recent financial year
  
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• Trump to nominate Wall Street lawyer Clayton to lead U.S. SEC

  04-01-2017 17:45 via news.yahoo.com
  
  President-elect Donald Trump said on Wednesday he intends to nominate Walter "Jay" Clayton, an attorney who advises clients on major Wall Street deals, to lead the U.S. Securities and Exchange Commission. "Jay Clayton is a highly talented expert on many aspects of financial and regulatory law, and he will ensure our financial institutions can thrive and create jobs while playing by the rules at the same time," Trump in a statement. Clayton is a partner in the New York office of law firm Sullivan
  
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• Global stocks climb, dollar dips ahead of Fed minutes

  04-01-2017 17:27 via news.yahoo.com
  
  By Saqib Iqbal Ahmed NEW YORK (Reuters) - Stocks around the world gained for a second straight day on Wednesday, boosted by upbeat global economic data, as investors await minutes of the Federal Reserve's December meeting in which the U.S. central bank raised interest rates. The dollar retreated from a 14-year high against a basket of currencies and oil prices ticked higher on expectations that U.S. crude inventories are falling. The index was helped by a batch of rosy economic reports from Euro
  
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• U.S. stock ETFs collect record cash in December: TrimTabs

  04-01-2017 17:15
  
  (Reuters) - Investors stormed into equities in December, pouring a record $59.9 billion into U.S.-based domestic stock exchange-traded funds, TrimTabs Investment Research said on Wednesday. 
  
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• BRIEF-Bonanza Creek Energy initiates prepackaged Chapter 11 proceedings

  04-01-2017 16:59
  
  * Bonanza Creek Energy initiates prepackaged Chapter 11
  proceedings pursuant to restructuring support agreement
  
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• Alibaba just launched its first major effort to crack down on counterfeit goods

  04-01-2017 16:58 via news.yahoo.com
  
  Amazon's chief rival, Alibaba, is on the tech giant's playing field in one new category.  The Chinese e-commerce is lashing out against counterfeit sellers on its platform — a problem Amazon has faced for a long time.  Alibaba on Wednesday sued two fake Swarovski watch sellers on its Taobao e-commerce platform for "contract" and "goodwill" violations. The company claimed 1.4 million yuan, or about $201,000, in damages. Shenzhen police raided the seller and confiscated about 125 c
  
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• Wall Street opens higher, Fed minutes awaited

  04-01-2017 15:41 via news.yahoo.com
  
  U.S. stocks opened slightly higher on Wednesday, the second trading day of the new year, with investors awaiting the minutes of the Federal Reserve's December meeting, where the central bank raised interest rates.
  
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• Prices rise and businesses grow, but ECB probably not for turning

  04-01-2017 15:29 via news.yahoo.com
  
  By Francesco Canepa FRANKFURT (Reuters) - A sharp rebound in euro zone inflation and a better-than-expected business outlook are certain to fire up demands from some hardliners for the European Central Bank to choke off it ultra-generous monetary policy. The ECB is still looking at a highly uncertain economic and political landscape in the coming year and is far from declaring victory in its throw-money-at-it campaign to boost inflation to what it sees as normal and to create sustained economic
  
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• Convergex merges US options business with Dash Financial

  04-01-2017 15:23
  
  New firm Dash Financial Technologies will have an estimated 13% share of the US options agency execution market
  
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• Council pension funds: ‘We’re not retail investors’

  04-01-2017 15:15
  
  The funds fear being rubber-stamped as 'retail investors' under new FCA rules will prevent them from being able to invest in certain assets
  
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• Wall Street set to open higher, Fed minutes eyed

  04-01-2017 14:53 via news.yahoo.com
  
  The Fed cited strength in the labor market and a slight uptick in inflation among reasons for its move. With just over two weeks left before President-elect Donald Trump takes office, investors are waiting for the finer details of his proposed policies such as tax cuts and higher fiscal spending. "I think the market has gotten ahead of itself and is probably primed to give something back," said Robert Pavlik, chief market strategist at Boston Private Wealth.
  
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• Norway nets record salmon sales in 2016

  04-01-2017 14:50 via news.yahoo.com
  
  Norway made a record amount on its salmon sales last year, helping to partially offset a drop in oil revenues, the main engine of the country's economy, data showed Wednesday. Analysts expect prices to rise even further this year due to continued strong demand and the reopening of the Chinese market, which has become accessible again after a recent reconciliation between China and Norway.
  
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• Dollar edges down from 14-year high as euro gets data boost

  04-01-2017 14:31 via news.yahoo.com
  
  The dollar edged down from a 14-year high against a basket of currencies on Wednesday, with investors cautious about increasing bets on the greenback before getting fresh clues on the U.S. economy and the timing of interest rate rises.
  
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• Hemsley pay tops £1m at Numis

  04-01-2017 13:55
  
  Bonus payouts for top staff came after a year in which Numis generated record revenues
  
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• Accelerating economic activity, inflation sustain investors' festive fizz

  04-01-2017 13:45 via news.yahoo.com
  
  Upbeat global economic data and growing signs that inflation on both sides of the Atlantic is accelerating fueled a second day of 2017 gains across world stock markets on Wednesday, and lifted the euro and oil prices. A batch of reports from Europe showed that French consumer confidence hit a nine-year high, business activity across the euro zone rose at the fastest pace in more than five years and inflation in the euro zone is its highest in over three years.
  
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• Chinese bike-share start-up Mobike raises $215 million in fresh funding

  04-01-2017 13:44 via news.yahoo.com
  
  Chinese bike-sharing start-up Mobike has closed a $215 million series D funding round led by Tencent Holdings and Warburg Pincus LLC. Mobike, founded in 2015, is one of several bike-sharing services in China and allows users to find, unlock and pay to rent the company's bicycles through a smartphone app. New investors include Chinese travel company Ctrip.com International, private equity firm TPG Capital and Huazhou Hotels Group, Mobike said in a statement on Wednesday. Bike-sharing apps have fl
  
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• BGC Partners moves into insurance brokerage

  04-01-2017 13:36
  
  BGC has agreed to acquire Besso Insurance Group, a Lloyd's of London broker with a presence in property, casualty, marine, aviation, professional and financial risks and reinsurance markets.
  
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• U.S. stock futures rise ahead of Fed minutes

  04-01-2017 13:35 via news.yahoo.com
  
  The Fed raised rates for the first time last year, citing strength in the labor market and a slight uptick in inflation. Investors will be keen to assess policymakers' view on inflation, especially after a spate of strong economic data. With just over two weeks left before President-elect Donald Trump takes office, investors are waiting for the finer details of his proposed policies such as tax cuts and higher fiscal spending.
  
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• Deutsche Bank’s anti-financial crime chief to quit post

  04-01-2017 13:19
  
  Peter Hazlewood joined the bank in July last year
  
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• Egypt approves bankruptcy law to spur investment

  04-01-2017 13:18 via news.yahoo.com
  
  The Egyptian cabinet approved on Wednesday the country's first bankruptcy law, Justice Minister Hossam Abdelrahim said, part of an economic reform drive aimed at encouraging investment. Until now, Egypt has had no specific law on bankruptcy, meaning failed companies have had to go to court on a case-by-case basis. Egypt is in the process of passing a long-awaited investment law aimed at reviving the economy and attracting foreign investors.
  
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• Tanzania's current account gap narrows 61.6 pct in year to Oct

  04-01-2017 13:15 via news.yahoo.com
  
  Tanzania's current account deficit shrank by 61.6 percent in the year to October, helped by a decline in imports and improved performances by the tourism and mining sectors, the central bank said on Wednesday. In its monthly economic report, the Bank of Tanzania attributed the change to a fall in imports of goods and services to $10.69 billion from $13.23 billion and a 7.5 percent rise in goods and services exports to $9.47 billion. The east African country generates most of its foreign earnings
  
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• Computer-trading hedge funds make December recovery

  04-01-2017 12:46
  
  Bets on currencies – including a rise in the value of the dollar against other currencies - pay off
  
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• 2016 saw best German car sales this decade

  04-01-2017 12:46 via news.yahoo.com
  
  Carmakers sold more vehicles in Germany in 2016 than in any year since 2009, figures released by the German Association of the Automotive Industry (VDA) showed on Wednesday. A total of 3.4 million new cars were registered in Europe's largest car market between January and December, the VDA said, around 5.0 percent higher than in 2015. With cars a key industry for Germany, new registrations are closely watched as an indicator of the health of the economy.
  
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• Fidelity scores a China first

  04-01-2017 12:35
  
  Fidelity International becomes first foreign-owned manager to win license for domestic institutional funds
  
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• EMERGING MARKETS-Mexican peso at lowest in nearly two months; EM stocks at three-week highs

  04-01-2017 12:05
  
  LONDON, Jan 4 (Reuters) - Emerging market currencies broadly
  strengthened on Wednesday but the Mexican peso touched its
  lowest in nearly two months on fears U.S. President-elect Donald
  Trump's...
  
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• HSBC raises world economic growth, inflation forecasts, dubs moves "rare treat"

  04-01-2017 11:58
  
  LONDON, Jan 4 (Reuters) - Economists at HSBC on Wednesday
  raised their forecast for global growth and inflation over the
  next two years based on robust manufacturing activity, a
  resilient China and...
  
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• CORRECTED-Fidelity International gets licence to launch onshore China funds

  04-01-2017 11:55
  
  LONDON, Jan 4 (Reuters) - Bermuda-based fund firm Fidelity
  International Limited said on Wednesday it had become the first
  large foreign asset manager to be awarded a licence that allows
  it to invest...
  
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