Finance news

• Wall Street falls with financials, other post-election gainers

  17-01-2017 23:34 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks fell on Tuesday, with financials, transports and other big post-election gainers losing ground as earnings season kicked into gear. Also weighing on stocks were concerns about protectionist trade policies planned by U.S. President-elect Donald Trump. The S&P 500 financial index , which has rallied since the election on expectations of higher interest rates and reduced regulation under Trump, had its worst day since June 27 and led sec
  
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• Canadian dollar hits nearly three-month high as greenback slides

  17-01-2017 23:18 via news.yahoo.com
  
  By Alastair Sharp TORONTO (Reuters) - The Canadian dollar strengthened to a nearly three-month high against its U.S. counterpart on Tuesday, one day before a Bank of Canada interest rate decision and updated outlook, as a New Year selloff of the greenback deepened. The U.S. dollar fell along with stocks and bond yields after U.S. President-elect Donald Trump said the strong greenback was hurting the nation's competitiveness. "We still think the U.S. dollar will bounce back" over the next three m
  
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• Wall Street declines as some post-election gainers reverse

  17-01-2017 22:45 via news.yahoo.com
  
  U.S. stocks fell on Tuesday, with financials, transports and other big post-election gainers losing ground as earnings season kicked into gear. Also weighing on stocks were concerns about protectionist trade policies by U.S. President-elect Donald Trump, which pushed the dollar the dollar to its lowest level in more than a month and bond yields down as investors cut risk. The S&P 500 financial index , which has rallied since the election on expectations of higher interest rates and reduced r
  
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• CSX profit dips but meets Wall Street expectations

  17-01-2017 22:43 via news.yahoo.com
  
  No. 3 U.S. railroad CSX Corp on Tuesday reported a slight dip in quarterly net profit, in results that met Wall Street analyst expectations, and said conditions for its business were improving after taking a hit from low commodity prices and a strong U.S. dollar. CSX reported a slight increase in coal freight volumes in the fourth quarter from a year earlier after nearly two years of decline which have pummeled the U.S. railroads. Analysts had expected earnings per share of 49 cents.
  
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• Scaramucci's fund struggles to bring top returns to the masses

  17-01-2017 22:31 via news.yahoo.com
  
  One of President-elect Donald Trump's top liaisons to Wall Street's business elite launched a mutual fund three years ago for mom-and-pop investors that lags most of its peers. Hedge fund impresario Anthony Scaramucci, 53, has secured a top White House job as an adviser and public liaison to government agencies and businesses.
  
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• UPDATE 2-Caesars wraps up $18 billion bankruptcy case, eyes future

  17-01-2017 21:30
  
  CHICAGO, Jan 17 (Reuters) - Caesars Entertainment Corp
  has wrapped up the $18 billion bankruptcy of its main
  operating unit, allowing the casino company to focus on
  restoring the tarnished Harrah's,...
  
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• Wall Street falls as some post-election gainers reverse

  17-01-2017 21:07 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks fell on Tuesday as financials and other big post-election gainers lost ground. Biotech and pharma stocks declined after President-elect Donald Trump said in a Washington Post interview over the weekend that he would target companies over drug pricing and that he was ready to unveil a plan to replace Obamacare. The Nasdaq biotech index was down 2 percent.
  
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• BRIEF-CME Group says cleared 1 trillion in Mexican Peso interest rate swaps on Jan 12

  17-01-2017 20:54
  
  * cleared 1 trillion in Mexican Peso interest rate swaps in
  a single day on January 12, 2017
  
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• BRIEF-Alpha and Omega Semiconductor Ltd says unit entered into engineering, procurement and construction contract

  17-01-2017 20:54
  
  * effective as of January 10, 2017 unit entered into an
  engineering, procurement and construction contract
  
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• BRIEF-Hudbay Minerals announces 2017 production, cost guidance

  17-01-2017 20:52
  
  * Hudbay announces 2017 production and cost guidance and
  management appointment
  
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• BRIEF-River Road Asset Management LLC reports 7.6 pct passive stake in Fidelity National Financial

  17-01-2017 20:50
  
  * River road asset management llc reports 7.6 percent
  passive stake in fidelity national financial inc as of december
  31, 2016 - sec filingSource text - http://bit.ly/2jw57cK
  Further company...
  
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• BRIEF-Caesars Entertainment, Caesars Entertainment Operating Co. announce confirmation of CEOC's plan of reorganization

  17-01-2017 20:50
  
  * Caesars Entertainment, Caesars Entertainment Operating Co.
  announce confirmation of CEOC's plan of reorganization
  
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• BRIEF-Grupo Aeroportuario del Pacifico SAB de CV announces FY 2017 outlook

  17-01-2017 20:49
  
  Jan 17 (Reuters) - Grupo Aeroportuario del Pacifico SAB de
  CV :
  
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• BRIEF-TCS Capital Management urges Central European Media Enterprises to hire investment bank to sell company

  17-01-2017 20:47
  
  * TCS Capital Management LLC - urged Central European Media
  Enterprises Ltd to hire investment bank to run process to sell
  the company - sec filing
  
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• BRIEF-Pershing Square reaches settlement with U.S. Securities and exchange commission

  17-01-2017 20:47
  
  * Pershing square reaches settlement with the U.S.
  Securities and exchange commission
  
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• Qualcomm said to face U.S. antitrust case on licensing practices - BBG

  17-01-2017 20:46
  
  Jan 17 (Reuters) - Qualcomm Inc is set to face a
  U.S. antitrust case for allegedly using unfair practices in the
  way the chipmaker licenses its technology, Bloomberg reported,
  citing people familiar...
  
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• BRIEF-Eaton Vance reports consolidated AUM of $354.3 bln on Dec. 31, 2016

  17-01-2017 20:43
  
  * Eaton Vance Corp reports December 31, 2016 assets under
  management
  
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• France's Hollande told May expects quick start of Brexit negotiations: source

  17-01-2017 20:40 via news.yahoo.com
  
  French President Francois Hollande told British Prime Minister Theresa May on Tuesday that negotiations over Britain's exit from the European Union should begin as soon as Britain invokes Article 50, a presidential sources said. May said Britain would quit the bloc's single market. May informed Hollande of her desire to establish an economic relationship with the EU in the framework of a trade agreement and insisted on the importance of Franco-British cooperation in the areas of security and def
  
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• Trump vs. the Dollar: Why Investors Are Right to Be Nervous

  17-01-2017 20:27 via news.yahoo.com
  
  The post-election lull on Wall Street looks set to end. After all the excitement of October and November — FBI headlines, President-elect Trump's surprise win and the historic "Make America Great Again" market surge to new highs — stocks have gone exactly nowhere over the last five weeks. It's best seen in the reversal underway in the U.S. dollar, which soared triumphantly in the wake of Trump's victory.
  
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• Finance industry's 'worst case' on Brexit spurs contingency plans

  17-01-2017 20:11 via news.yahoo.com
  
  By Anjuli Davies and Andrew MacAskill LONDON (Reuters) - Britain's financial services will accelerate plans to move some business overseas after Prime Minister Theresa May said on Tuesday the country will quit the European Union's single market. Businesses have been calling for clarity on what Britain's relationship with Europe will be before deciding how to reshape their operations, but most major firms are now set to relocate some business to ensure they can still trade with Europe. London's f
  
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• Bats Listings Closes Strong 2016 with 15 Listings Switches from NYSE Arca

  17-01-2017 20:00 via news.yahoo.com
  
  KANSAS CITY, Mo., NEW YORK & LONDON--(BUSINESSWIRE)-- Welcomed 34 ETFs from 13 Issuers in Fourth Quarter Bats Global Markets, Inc. (Bats: BATS), the #1 stock market operator for exchange-traded fund trading, ...
  
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• Davos 2017 is “the most serious I have attended”

  17-01-2017 19:44
  Conversations have ranged from trade wars to Brexit to fintech
  
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• At Davos, retreat of globalisation stokes fears for poor nations

  17-01-2017 19:40 via news.yahoo.com
  
  In 2014, Arnold Kamler, CEO of New Jersey-based Kent International, took a big step: he resumed making bicycles in the United States, 23 years after uprooting production to China. For business and political leaders gathered in the Swiss Alps town of Davos for this year's World Economic Forum, Kamler's experience - part of a process Morgan Stanley once dubbed the "re-industrialization" of America - is a cause for some anxiety. If a mix of accelerating automation and trade protectionism is the def
  
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• Unravelling EU/UK trade like unscrambling omelette: ITC

  17-01-2017 19:27 via news.yahoo.com
  
  , DAVOS, Switzerland - British Prime Minister Theresa May gave her most decisive Brexit speech to date on the day the World Economic Forum in Davos kicked off, confirming that she favoured a clean break from the European Union.
  
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• BAT agrees to buy Reynolds for $49 billion

  17-01-2017 19:14
  
  LONDON (Reuters) - British American Tobaccohas agreed a $49.4 billion takeover of U.S. rival Reynolds American Inc , creating the world's biggest listed tobacco company after it increased an...
  
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• Wall Street falls as bank, healthcare shares weigh

  17-01-2017 19:08 via news.yahoo.com
  
  Biotech and pharma stocks declined after Trump told the Washington Post that he would target companies over drug pricing and that he was ready to unveil a plan to replace Obamacare. The S&P 500 healthcare sector fell 0.7 percent, while Nasdaq biotech index slipped 1.8 percent. Investors maybe concerned that Trump is "going after the Affordable Care Act and is burning a little political capital that might otherwise have been used for business friendly matters," said Art Hogan, chief market st
  
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• May's Brexit: going it alone, hoping for an EU trade deal

  17-01-2017 19:06 via news.yahoo.com
  
  Prime Minister Theresa May has finally outlined what Brexit really means for her: Britain going it alone, fully disentangled from the European Union while hoping the bloc will agree to a comprehensive trade deal. Britain will exit the EU's vast internal market for goods and services and will instead try for a "bold and ambitious" free trade agreement (FTA), rejecting the kind of arrangements some other European countries, such as Norway and Switzerland, have for trade with the world's biggest ec
  
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• UPDATE 2-Women's apparel retailer Limited Stores files for bankruptcy

  17-01-2017 18:58
  
  Jan 17 (Reuters) - U.S. women's apparel chain The Limited
  filed for Chapter 11 bankruptcy protection on Tuesday after
  closing all 250 stores, the latest brick-and-mortar retailer to
  fall victim to...
  
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• Court approves Caesars Entertainment unit's bankruptcy plan

  17-01-2017 18:41
  
  CHICAGO, Jan 17 (Reuters) - Caesars Entertainment Corp's
  main operating unit won court approval on Tuesday for a
  plan to shed $10 billion of debt and end a contentious $18
  billion bankruptcy filed...
  
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• BlackRock settles with SEC on whistleblower charges

  17-01-2017 18:21
  
  Fund manager pays $340,000 to settle charges it sought to gag whistleblowers, but says no employee was actually prevented from contacting SEC
  
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• In parting words, SEC's White calls for regulator to avoid political meddling

  17-01-2017 18:17 via news.yahoo.com
  
  By Sarah N. Lynch WASHINGTON (Reuters) - Outgoing U.S. Securities and Exchange Commission Chair Mary Jo White had some harsh parting words for Congress on Tuesday and a plea to the incoming administration to ensure the regulator remains independent and insulated from political pressures. In what is likely her final speech before stepping down after President-elect Donald Trump is sworn into office on Friday, White lamented the "prescriptive" rule-writing requirements that Congress has imposed on
  
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• BlueBay’s finance chief retires

  17-01-2017 18:06
  
  Fixed income specialist's veteran chief financial officer calls it a day
  
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• Appeals court rules for Education Management on debt-cutting plan

  17-01-2017 18:03
  
  WILMINGTON, Del, Jan 17 (Reuters) - Education Management
  Corp scored a victory in its fight against an investor
  opposed to its $1.5 billion debt-cutting plan on Tuesday, when a
  U.S. appeals court...
  
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• JP Morgan brings in outside eyes on forex

  17-01-2017 17:44
  
  US bank, which is one of the world's biggest currency houses, submits its electronic trading to external quality-checks
  
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• Israel's Netanyahu mired in series of corruption allegations

  17-01-2017 17:41 via news.yahoo.com
  
  JERUSALEM (AP) — Israel's Benjamin Netanyahu might be upbeat these days: The economy is growing, his opposition is weak and the incoming Trump administration seems friendly, even to the much-maligned Jewish settlements in the West Bank. Instead, the long-serving leader is mired in a series of eye-popping corruption investigations in a country that has already jailed a prime minister and president.
  
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• U.S.-Cuba detente supporters make last-ditch effort to sway Trump

  17-01-2017 17:35 via news.yahoo.com
  
  By Marc Frank HAVANA (Reuters) - U.S. organizations that have worked closely with the outgoing Obama administration to improve relations with Cuba on Tuesday released a four-page letter to President-elect Donald Trump urging him not to act rashly toward the Communist-run nation. The Cuban Study Group, an organization of Cuban-American business leaders who favor engagement, and the Washington-based Engage Cuba coalition, arranged what they termed the "memo" which says, "to reflexively reverse cou
  
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• States can offer a lesson as GOP proposes deep cut taxes

  17-01-2017 17:12 via news.yahoo.com
  
  President-elect Donald Trump and congressional Republicans who have pledged to cut federal taxes to boost the economy might consider looking first at lessons learned in GOP-controlled states that adopted ...
  
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• IHS Markit “hit the ground running” in new fiscal year

  17-01-2017 17:10
  
  The data and analytics company has entered its first full fiscal year since the merger of IHS and Markit
  
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• Sluggish world growth derailing UN plan to end poverty

  17-01-2017 17:09 via news.yahoo.com
  
  The world economy has not yet emerged from a period of slow growth, a trend that threatens to derail an ambitious UN plan to end extreme poverty by 2030, a UN report said Tuesday. The world economy expanded by just 2.2 percent in 2016 - the slowest rate of growth since the 2009 recession -- and is projected to grow by 2.7 percent in 2017 and 2.9 percent in 2018, according to the World Economic Situation and Prospects report. The UN's 48 designated least developed countries, most of which are in
  
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• Xi rebukes globalisation's foes as Trump presidency nears

  17-01-2017 17:05 via news.yahoo.com
  
  China's President Xi Jinping warned Tuesday against scapegoating globalisation for the world's ills or retreating behind protectionist walls, staking out an alternative vision for the international economy days before Donald Trump takes office. The global economic order has been led for decades by the United States but the president-elect is threatening to tear up the rule book and Xi used his debut appearance at the World Economic Forum in Davos to insist that globalisation was irreversible. Wi
  
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• City cautiously optimistic about PM’s Brexit plan

  17-01-2017 16:56
  
  City chiefs welcome May's talk of a transitional deal, but would like more detail on the specifics
  
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• May to meet Wall Street‎ chiefs for talks on 'hard Brexit'

  17-01-2017 16:49 via news.yahoo.com
  
  Theresa May will meet the heads of ‎some of Wall Street's biggest firms for talks about her plan for a 'hard Brexit' that they believe will trigger the loss of thousands of jobs from the UK's financial services sector. Sky News has learnt that the chief executives of Goldman Sachs (NYSE: GS-PB - news) , JP Morgan, Morgan Stanley (Xetra: 885836 - news) - three of the biggest banks in the US - and the boss of Blackrock (Sao Paolo: BLAK34.SA - news) , the world's largest asset manager, have bee
  
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• The Latest: Kerry says US diplomatic deals hard to reverse

  17-01-2017 16:46 via news.yahoo.com
  
  DAVOS, Switzerland (AP) — The Latest on the World Economic Forum in Davos, Switzerland (all times local):
  
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• In Davos, Xi makes case for Chinese leadership role

  17-01-2017 16:33 via news.yahoo.com
  
  By Noah Barkin and Elizabeth Piper DAVOS, Switzerland (Reuters) - Chinese President Xi Jinping offered a vigorous defence of free trade at the World Economic Forum in Davos on Tuesday in a speech that underscored Beijing's desire to play a greater global role as the United States turns inward. In the first appearance by a Chinese leader at the annual meeting of political leaders, CEOs and bankers in the Swiss Alps, Xi also cautioned other countries against blindly pursuing their national interes
  
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• Morgan Stanley inked deals with 10 digital partners in 2016 - CEO

  17-01-2017 16:30 via news.yahoo.com
  
  Morgan Stanley's wealth management business signed deals with 10 new digital partners last year, Chief Executive James Gorman said during a call on Tuesday with analysts to discuss the bank's fourth-quarter earnings. The new "digital alliances," as Gorman described them, signal a shift away from the do-it-yourself approach the bank took to technology in the past and its appetite for new ways to interact with technology-savvy clients, such as through apps and text messages. Unlike some of its Wal
  
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• Nigeria needs to close gap between official and black market rates "very soon": VP

  17-01-2017 16:26 via news.yahoo.com
  
  DAVOS, Switzerland (Reuters) - Nigeria needs to close the gap between the official and black market rates for the naira against the dollar "very soon", Vice President Yemi Osinbajo said on Tuesday. "The gap between the official and parallel market... it isn't helpful," he told reporters at the World Economic Forum in Davos. "If you look at economic recovery and growth plan it is the expectation that this is a conversation we are having with central bank." (Reporting by Dmitry Zhdannikov and Suja
  
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• Distraught Davos finds globalisation saviour in China's Xi

  17-01-2017 16:18 via news.yahoo.com
  
  With Donald Trump about to get the keys to the White House and the political winds blowing a populist gale through Europe, the world's elite have been in need of a new saviour. Enter stage left Chinese President Xi Jinping, who in an hour-long speech on Tuesday won over a crowd of ardent capitalists gathered at the World Economic Forum in Davos, Switzerland. "I've been coming to Davos for years and that's the kind of speech that was usually given by a US president," said John Neill, the head of
  
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• South Africa's Eskom signs deal with municipalities over unpaid bills

  17-01-2017 16:11 via news.yahoo.com
  
  South African power utility Eskom has signed agreements with 21 of the 34 defaulting municipalities to recoup unpaid bills worth 10.2 billion rand ($757 million) and ease the pressure on businesses, the firm said on Tuesday. The scheduled power interruptions in Africa's most industrialised economy could negatively impact business and industries that rely on power in municipalities located in some of the key provinces in the country. "Municipalities need to make arrangements or they will have to
  
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• Wall Street drops as banks, health stocks weigh

  17-01-2017 16:10 via news.yahoo.com
  
  U.S. stocks fell on Tuesday, with healthcare and financial stocks coming under pressure, as investors assessed President-elect Donald's Trump's comments on the dollar and drug pricing. The dollar index fell nearly 0.8 percent on Tuesday, after Trump warned that the dollar was too strong, hurting the competitiveness of U.S. companies. Healthcare stocks took a beating after Trump told Washington Post that he would target pharmaceutical companies over drug pricing.
  
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• Morgan Stanley’s bond traders answer Gorman’s call

  17-01-2017 15:50
  
  Institutional securities unit has strong fourth quarter after a tough start to 2016
  
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