Finance news

• Puerto Rico governor cites 'sharp contrast' with island's overseers

  20-01-2017 23:49 via news.yahoo.com
  
  Puerto Rico Governor Ricardo Rossello on Friday criticized a set of recommendations by the federal board in charge of managing the U.S. territory's finances, signaling a potential power struggle between the government and the board on how to pull the island out of economic crisis. In a letter to the board on Friday, Rossello said that while he supports reducing government spending, he would not focus on layoffs as a primary means of saving money. The board's letter had called for Puerto Rico to
  
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• UPDATE 2-Puerto Rico governor cites 'sharp contrast' with island's overseers

  20-01-2017 23:48
  
  Jan 20 (Reuters) - Puerto Rico Governor Ricardo Rossello on
  Friday criticized a set of recommendations by the federal board
  in charge of managing the U.S. territory's finances, signaling a
  potential...
  
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• Mexico seeks stronger U.S. ties despite Trump campaign barbs

  20-01-2017 23:45 via news.yahoo.com
  
  By Adriana Barrera MEXICO CITY (Reuters) - Mexico's president said on Friday he wanted to strengthen relations with his new U.S. counterpart Donald Trump, whose threats and barbs against the country raised fears of a major economic crisis, and battered its currency. President Enrique Pena Nieto, pilloried at home for meeting Trump in August after the New York businessman called Mexican migrants rapists and murderers, said on Twitter he would defend the interests of Mexico and its people in a "re
  
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• U.S. bankruptcy court judge OKs $425 million for Avaya loan

  20-01-2017 23:26
  
  NEW YORK, Jan 20 (Reuters) - A U.S. bankruptcy court judge
  granted Avaya Inc approval on Friday to tap $425 million of the
  $725 million loan proposed to carry the telecommunications
  company through...
  
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• CANADA FX DEBT-C$ steady following earlier losses on domestic data

  20-01-2017 23:10
  
  * Canadian dollar at C$1.3315 or 75.10 U.S. cents* Bond prices mostly higher across the maturity curve By Solarina HoTORONTO, Jan 20 (Reuters) - The Canadian dollar pared
  earlier...
  
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• Morgan Stanley CEO James Gorman's 2016 pay up 7 percent to $22.5 million

  20-01-2017 23:09 via news.yahoo.com
  
  Morgan Stanley Chief Executive James Gorman's overall pay rose 7 percent in 2016 as the Wall Street bank's stock soared and it edged closer to hitting a key profitability target. Gorman will receive $22.5 million (18 million pounds) in total compensation, up from $21 million in 2015, spokesman Mark Lake said in an email. Gorman received a $5 million stock bonus for his performance in 2016, an 8 percent increase from 2015, according to a filing with the U.S. Securities and Exchange Commission.
  
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• BRIEF-Schweitzer-Mauduit enters into interest rate swap deal with JPMorgan Chase

  20-01-2017 23:05
  
  * Schweitzer-Mauduit International Inc - Entered into
  interest rate swap transaction with JPMorgan Chase for 3-year
  term on notional amount of $315 millionSource: (http://bit.ly/2jyd5Qp)
  Further...
  
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• UPDATE 1-Speculators pare back long U.S. dollar bets for 2nd straight week-CFTC, Reuters

  20-01-2017 22:59
  
  (Adds details on dollar and Mexican peso contracts, analyst
  comments, table, byline)By Gertrude Chavez-DreyfussNEW YORK, Jan 20 (Reuters) - Speculators reduced long bets
  on the U.S. dollar...
  
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• GLOBAL MARKETS-Dollar falls, U.S. stocks end higher after Trump inauguration

  20-01-2017 22:58
  
  * Stocks recover some ground after paring gains on Trump
  speech
  
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• BRIEF-Teleflex amends, restates existing credit agreement

  20-01-2017 22:52
  
  * On Jan 20 amended and restated its existing credit
  agreement, dated as of July 16, 2013- SEC filing
  
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• BRIEF-Xtant unit, Bacterin International enter into eighth amendment to credit agreement

  20-01-2017 22:51
  
  * Xtant Medical Holdings -its unit and Bacterin
  International entered into eighth amendment to amended and
  restated credit agreement - SEC filing
  
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• TrailStone buys Cargill's power and gas group: sources

  20-01-2017 22:39
  
  HOUSTON (Reuters) - Commodities trader and investor TrailStone Group has purchased Cargill Inc's gas and power trading group, three sources familiar with the deal said this week.
  
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• Wall Street ends higher as Trump becomes president

  20-01-2017 22:07 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks closed higher on Friday in a modest but broad-based advance as Donald Trump was sworn in as U.S. President, marking the first time in more than 50 years that a new commander in chief has been welcomed by a rising stock market on his first day in office.
  
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• Maverick Capital eyes rebound on bets Trump may roil Wall Street

  20-01-2017 21:26 via news.yahoo.com
  
  U.S. President Donald Trump's policies could lead to more violent stock market movements, something prominent hedge fund manager Lee Ainslie said could help his portfolio rebound after a lousy 2016. Ainslie's $11 billion Maverick Capital missed out on a rally sparked by Trump's unexpected election in November and ended the year with double digit losses in its biggest funds, underperforming the broader stock market and most hedge funds.
  
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• Silverstone says no decision on British GP until July

  20-01-2017 21:24 via news.yahoo.com
  
  By Alan Baldwin LONDON (Reuters) - Silverstone's owners have dismissed as "speculative and wrong" recent media reports suggesting the British Formula One Grand Prix would be dropped after 2019. The British Racing Drivers' Club (BRDC) said in a statement on Friday that no decision on exercising a break clause would be made before mid-July, when the race is held. "Our objective is to preserve the British Grand Prix at Silverstone for many years to come but, of course, we can only do this if i
  
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• Mexico leader vows to protect Mexicans as he seeks close ties with Trump

  20-01-2017 20:59 via news.yahoo.com
  
  By Adriana Barrera MEXICO CITY (Reuters) - President Enrique Pena Nieto on Friday congratulated Donald Trump on his inauguration as U.S. president saying he would like to strengthen ties, but that sovereignty, national interest and protection of Mexicans would be paramount. Pena Nieto, criticized for meeting Trump last year even after the New York businessman had insulted Mexicans in the election campaign, said on Twitter he would seek "respectful" dialogue with the new U.S. government. Trump is
  
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• AIG to pay Buffett's Berkshire about $10 billion in insurance deal

  20-01-2017 20:53
  
  NEW YORK (Reuters) - American International Group Inchas agreed to pay roughly $10.2 billion to Warren Buffett's Berkshire Hathaway Incto take on many long-term risks on U.S. commercial insurance...
  
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• Germany must prepare for 'rough ride' under Trump: Vice Chancellor

  20-01-2017 20:24 via news.yahoo.com
  
  Germany will need a new economic strategy geared toward Asia should the new U.S. administration start a trade war with China, Vice Chancellor Sigmar Gabriel said on Friday, warning of a "rough ride" hours after President Donald Trump was sworn in. "What we heard today were high nationalistic tones," Gabriel said in an interview with the public broadcaster ZDF, in the first official German reaction to Trump's inauguration. "I think we have to prepare for a rough ride." He added that Trump "was ex
  
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• FTC not sold on Walgreens' plan to win nod for Rite Aid deal: Bloomberg

  20-01-2017 20:23
  
  (Reuters) - The U.S. Federal Trade Commission is not satisfied with Walgreens Boots Alliance Inc'splan to divest stores to win antitrust clearance for its acquisition of Rite Aid Corp , Bloomberg...
  
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• Fed's Williams says need to raise rates before economy overshoots

  20-01-2017 20:14 via news.yahoo.com
  
  An aging workforce and low productivity growth will keep the United States from growing faster than about 2 percent annually on a sustainable basis, Williams said at the Bay Area Economic Institute's annual forecast conference. Donald Trump, sworn in as the 45th U.S. president just hours earlier, has promised his economic policies will boost growth to 4 percent. It was unclear how that ambition will square with the Fed's determination, as articulated by Fed Chair Janet Yellen earlier this week,
  
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• No 'joke': SocGen admits fault, pays $50 million in U.S. fraud case

  20-01-2017 20:08 via news.yahoo.com
  
  Societe Generale agreed to pay a $50 million civil fine and admit to misconduct to settle U.S. claims that it fraudulently concealed from investors the poor quality of residential mortgage-backed securities it marketed and sold. In a statement on Friday, the U.S. Department of Justice said the French bank concealed problems in a $780 million debt issue it arranged in 2006, and which has since left investors with "significant losses" that may grow further. The debt issue, SG Mortgage Securities T
  
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• GE looks for sharp cut in corporate tax rate under Trump

  20-01-2017 20:05 via news.yahoo.com
  
  "From a GE perspective, at a minimum, we need to have a corporate tax system where the rate of taxation is commensurate with the OECD average of 21 or 22 percent," down from 35 percent, GE Chief Financial Officer Jeff Bornstein told Reuters, referring to the Organization for Economic Cooperation and Development. The comments came as GE, a maker of power plants, aircraft engines, locomotives and medical equipment, posted a 36 percent profit jump but said industrial division sales fell in the fina
  
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• Trump to get first sign of U.S. economic health

  20-01-2017 19:51 via news.yahoo.com
  
  By Philip Blenkinsop BRUSSELS (Reuters) - Donald Trump's policy plans in his first days in office are likely to dominate headlines in the coming week, but the new president himself will also get a first read-out on the health of the U.S. economy. While Trump has talked of a feverish first full day - with orders and notifications to withdraw from the TPP trans-Pacific trade pact, cancellation of restrictions of energy production and curbs on illegal immigrants - the economic diary is light. Other
  
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• City chief plays down Brexit risk as banks move jobs

  20-01-2017 19:36 via news.yahoo.com
  
  The City of London's policy chief played down Brexit risks for the world's top financial hub in an interview with AFP on Friday, even after a string of banks said they may have to shift jobs from London. "Brexit won't be... so damaging as to risk London's status," Mark Boleat said, while acknowledging there would be "a loss of tax revenue and... a loss of jobs" as Britain prepares to leave the European Union. "I am sure London will be the leading global financial centre whether Britain is in the
  
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• Nasdaq backs trading illiquid stocks only on listing exchange

  20-01-2017 19:31 via news.yahoo.com
  
  By John McCrank NEW YORK (Reuters) - Nasdaq Inc will ask U.S. regulators under the Trump administration to limit the trading of shares of small companies and illiquid exchange-traded funds to the exchanges on which they are listed, the market operator said in a note to clients. Such a move would make it cheaper for investors to buy and sell small-cap stocks and niche ETFs, spur more trading, and improve market transparency, Tal Cohen, Nasdaq's head of North American equities, said in the Jan. 19
  
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• U.S. stocks pare gains after Trump's inaugural speech

  20-01-2017 19:11 via news.yahoo.com
  
  Wall Street pared gains sharply on Friday after Donald Trump made his inaugural speech as the 45th president of the United States. "From this day forward it is going to be only America first," Trump said after being sworn in, adding that the U.S. policy will be to buy American and hire American. Trump's campaign promises of tax and regulatory reforms and higher infrastructure spending had driven Wall Street to new highs in a post-election rally.
  
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• US stocks pare gains after Trump inaugural speech

  20-01-2017 18:49
  
  Markets largely unmoved by 'America First' address
  
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• ATR says aircraft deal with Iran imminent

  20-01-2017 18:33
  
  TOULOUSE (Reuters) - Turboprop maker ATR has completed commercial negotiations with IranAir for the sale of at least 20 aircraft and expects to be able to sign a contract very soon, the head of the...
  
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• Davos offers unsettling glimpse of new world order

  20-01-2017 18:16 via news.yahoo.com
  
  By Noah Barkin DAVOS, Switzerland (Reuters) - Imagine a world where the relationships and roles that have defined the global order for the past three quarters of a century have been turned on their head. Communist China is the world's champion of free trade and globalization. The United States has turned its back on liberal values and is cozying up to Russia. And Europe, spurned by Washington and London, is turning to Beijing to fill the void. Welcome to the World Economic Forum (WEF) in Davos c
  
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• BlackRock hires former UK finance minister Osborne as adviser

  20-01-2017 18:12
  
  NEW YORK/LONDON (Reuters) - Former British finance minister George Osborne, who lost his job after Britain's vote to leave the European Union, will join BlackRock Inc as an adviser next month, the...
  
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• Wall Street trims gains as President Trump speaks

  20-01-2017 18:10 via news.yahoo.com
  
  (Reuters) - U.S. stocks trimmed gains at midday on Friday, shortly after Donald Trump started his inaugural speech during his swearing-in as the 45th U.S. president. The Dow Jones Industrial Average was up 50.88 points, or 0.26 percent, at 19,783.28, the S&P 500 was up 5.41 points, or 0.24 percent, at 2,269.1 and the Nasdaq Composite was up 10.56 points, or 0.19 percent, at 5,550.65.
  
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• More to life than driving around in circles, says Rosberg

  20-01-2017 18:09 via news.yahoo.com
  
  (Reuters) - Formula One world champion Nico Rosberg said on Friday he was enjoying the freedom of retirement and could turn his focus to renewable energy now that he has left the racetrack. Interviewed at the World Economic Forum in Davos, Switzerland, the former Mercedes grand prix driver told his audience that "life has more to offer than driving around in circles. "Renewable energy is something that could be quite interesting.
  
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• Stocks rise as Donald Trump takes over

  20-01-2017 17:55 via news.yahoo.com
  
  London (AFP) - Wall Street climbed Friday before Donald Trump's inauguration, while European indices drifted with markets hoping that the US president's speech will expand on his planned economic policy.
  
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• As populism mounts, Davos elite told: pay your taxes

  20-01-2017 17:36 via news.yahoo.com
  
  The world's biggest multinationals have been put on notice to start paying their fair share of tax -- or risk accelerating the rise in populism that has carried Donald Trump to the White House. From Panama Papers to LuxLeaks, recent years' headlines have been filled with revelations on the secret ways the rich and multinationals, with the help of accountancy firms, shift profits across the globe to drastically cut tax. Perfectly legal, these methods helped divert billions in profit from the tax
  
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• Wall Street rises as Trump inauguration kicks off

  20-01-2017 17:34 via news.yahoo.com
  
  U.S. stocks rose amid gains across sectors on Friday as Donald Trump gets set to become the 45th president of the United States. Trump will be sworn in by U.S. Supreme Court Chief Justice John Roberts in Washington. Investors will focus on Trump's inaugural speech to get more insight into his economic policies.
  
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• Exclusive: Vivendi open to restart talks with Mediaset if it drops legal action - sources

  20-01-2017 17:33
  
  PARIS/LONDON/MILAN (Reuters) - French media group Vivendicould resume talks with Mediasetbut only if the Italian broadcaster dropslegal action against it, several sources said on Friday.
  
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• TSX Jumps one percent as oil rally boosts energy stocks; Trump eyed

  20-01-2017 17:11 via news.yahoo.com
  
  Canada's main stock index jumped 1 percent on Friday in a broad rally led by resources stocks as oil prices pushed higher and other commodity prices also gained and as investors eyed the inauguration of Donald Trump as the next U.S. president. Oil prices rose 2 percent ahead of a weekend meeting of the world's top oil producers that is expected to demonstrate compliance with a global output cut deal. Investors hope to get a clearer picture of Trump's likely economic policies when he delivers an
  
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• Osborne joins fund giant BlackRock

  20-01-2017 17:11
  
  Former UK Chancellor of the Exchequer joins the world's largest asset manager as a senior adviser
  
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• ECB probed by watchdog over ties with bankers in G30 group

  20-01-2017 17:06 via news.yahoo.com
  
  By Francesco Canepa FRANKFURT (Reuters) - The European Union's ethics watchdog has opened an inquiry into the participation of European Central Bank President Mario Draghi and senior ECB officials in the work of an exclusive group that includes bankers and fund managers. The European Ombudsman's probe relates to ties between ECB officials and the Group of Thirty, a private organization where policymakers, economists, bankers and fund managers meet behind closed doors to discuss economic and mone
  
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• Samsung probe 'finds faulty batteries triggered fires'

  20-01-2017 16:56 via news.yahoo.com
  
  A Samsung probe into the exploding batteries that forced the electronics giant to scrap its Galaxy Note 7 smartphones has found irregularly sized batteries caused overheating, the Wall Street Journal reported Friday. The South Korean conglomerate was forced to discontinue its flagship Note 7 after a chaotic recall that saw replacement phones also catching fire, with the debacle costing the company billions in lost profit and reputational damage. Samsung is set to unveil the results of its invest
  
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• Stocks, bond yields rise ahead of Trump inauguration

  20-01-2017 16:52 via news.yahoo.com
  
  U.S. stocks rose along with Treasury yields on Friday, the last day of a choppy trading week, as investors awaited Donald Trump's Presidential inauguration later in the day. There has been a pause in the post-election market rally in risky assets such as equities amid questions over how Trump's administration will carry out ambitious campaign promises of lower taxes, more government spending and looser regulations. Caution ahead of the former reality TV star's impending inauguration speech offse
  
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• BRIEF-PERMIAN BASIN ROYALTY TRUST ANNOUNCES JANUARY CASH DISTRIBUTION

  20-01-2017 16:15
  
  * DECLARED A JANUARY CASH DISTRIBUTION TO HOLDERS OF ITS
  UNITS OF BENEFICIAL INTEREST OF $0.048012 PER UNIT
  
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• T. Rowe Price to recover $100 mln from insurance after voting error

  20-01-2017 16:12
  
  BOSTON, Jan 20 (Reuters) - Fund manager T. Rowe Price Group
  said in a securities filing this month it has entered
  an insurance agreement to recover $100 million after it made a
  voting error in the...
  
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• BRIEF-Boeing responds to IAM filing second petition to unionize Boeing South Carolina

  20-01-2017 16:11
  
  * notified that IAM union petitioned national labor
  relations board second time for union election at North
  Charleston, S.C. facilities
  
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• BRIEF-CAROLINA FINANCIAL ANNOUNCES PRICING OF PUBLIC OFFERING OF COMMON STOCK

  20-01-2017 16:08
  
  * CAROLINA FINANCIAL CORPORATION ANNOUNCES PRICING OF PUBLIC
  OFFERING OF COMMON STOCK
  
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• BRIEF-Baillie Gifford & Co reports 6.06 pct passive stake in TAL Education Group as of Dec 31, 2016

  20-01-2017 16:07
  
  * Baillie Gifford & Co reports 6.06 percent passive stake in
  TAL Education Group as of Dec 31, 2016 - SEC filingSource text: (http://bit.ly/2jwLa3o)
  Further company coverage:
  
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• Credit Suisse compliance boss: rules have stifled innovation

  20-01-2017 16:06
  
  Lara Warner says in Davos interview that decision making is becoming more drawn-out
  
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• As investors seek hefty rate hike, credibility test looms for Turkey central bank

  20-01-2017 16:06
  
  ANKARA, Jan 20 (Reuters) - Turkey's central bank faces a
  major credibility test when it meets on Tuesday, with investors
  hoping for a significant interest rate hike after attempts to
  defend the lira...
  
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• BRIEF-Trakcja PRKiI signs under consortium 373.7 mln zloty net deal with PKP PLK

  20-01-2017 16:05
  
  * Signs under consortium 373.7 million zloty ($91.15 million) net deal with PKP PLK SA for
  railway contruction works
  
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• UPDATE 3-Mexican peso's slump hits Kansas City Southern profit

  20-01-2017 16:02
  
  CHICAGO, Jan 20 (Reuters) - Kansas City Southern on
  Friday reported a lower quarterly net profit that missed Wall
  Street estimates by a wide margin as a historic drop in the
  Mexican peso after the...
  
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