Finance news

• World stocks rise as Dow passes 20,000 points

  25-01-2017 23:48 via news.yahoo.com
  
  The Dow Jones Industrial Average, the most famous equity index benchmark on Wall Street, shot above 20,000 for the first time Wednesday. The blue-chip stock index quickly blew through the much-anticipated milestone in the opening seconds of trading and rose further as the day progressed. The new record, which helped spur other leading global stock indices higher, culminates a US rally begun in the wake of US President Donald Trump's election, in anticipation he will produce pro-growth policies,
  
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• Canadian dollar climbs to one-week high as trade fears abate

  25-01-2017 22:41 via news.yahoo.com
  
  By Fergal Smith TORONTO (Reuters) - The Canadian dollar strengthened to a one-week high against its U.S. counterpart on Wednesday as investor fears of a more unfavorable trade outlook for Canada abated and the greenback suffered broader losses. The U.S. dollar hit a nearly seven-week low against a basket of currencies, pressured by lingering concerns about U.S. President Donald Trump's protectionist stance. A more protectionist United States would threaten Canada's economy.
  
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• Dow tops 20,000 on revitalized Trump trade, earnings

  25-01-2017 22:32 via news.yahoo.com
  
  U.S. stocks climbed on Wednesday and the Dow Jones Industrial Average closed atop the 20,000 mark for the first time as solid earnings and optimism over President Donald Trump's pro-growth initiatives revitalized a post-election rally. Trump has made several business-friendly decisions since taking office on Friday, including signing executive orders to reduce regulatory burden on domestic manufacturers and clearing the way for the construction of two oil pipelines. The S&P 500 and the Nasda
  
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• Wall Street rises, Dow closes above 20,000 milestone

  25-01-2017 22:06 via news.yahoo.com
  
  (Reuters) - U.S. stocks climbed on Wednesday and the Dow Jones Industrial Average closed above the 20,000 mark for the first time ever as solid earnings and optimism over President Donald Trump's pro-growth initiatives revitalized a post-election rally. The Dow Jones Industrial Average rose 155.38 points, or 0.78 percent, to 20,068.09, the S&P 500 gained 18.33 points, or 0.80 percent, to 2,298.4 and the Nasdaq Composite added 55.38 points, or 0.99 percent, to 5,656.34. (Reporting By Chuck Mi
  
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• Dow Jones industrial average breaks through 20,000 milestone

  25-01-2017 21:39 via news.yahoo.com
  
  The Dow Jones industrial average crossed the 20,000 mark for the first time Wednesday, the latest milestone in a record-setting drive for the stock market. Strong earnings from Boeing and other big companies ...
  
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• Test your knowledge of the Dow Jones industrial average

  25-01-2017 20:59 via news.yahoo.com
  
  As the Dow Jones industrial average reaches its latest milestone, see how well you know the oldest and best-known barometer of the U.S. stock market. 1. When was the Dow Jones industrial average first ...
  
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• Snapchat cash is no joke for the media

  25-01-2017 20:27 via news.yahoo.com
  
  Snapchat may be fun for users, but the app is starting to mean serious money for the media.  Numerous publishers are making hundreds of thousands of dollars per year on Snapchat, with a select few bringing in tens of millions, according to multiple people familiar with the matter. These profits come at a crucial time, as the media industry's patience in platforms such as Snapchat, Facebook and YouTube has been waning due to tepid monetization.  SEE ALSO: Snapchat is quietly making upda
  
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• Central America believes Trump unlikely to trash trade pact

  25-01-2017 20:09 via news.yahoo.com
  
  San José (AFP) - While President Donald Trump is scrapping or revising major trade accords, Central America believes a pact it has with the United States will go on unscathed. Government officials and businesses said that the Central America Free Trade Agreement, known as CAFTA, or CAFTA-DR with the later inclusion of the Dominican Republic, is so favorable to the US that it makes no sense to get rid of it. "All of us have to be ready to face the consequences in economic or other terms,"
  
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• Dow's climb from 10,000 to 20,000 was unusually slow

  25-01-2017 19:56 via news.yahoo.com
  
  The Dow Jones Industrial Average hit 20,000 for the first time ever on Wednesday in an ascent from 10,000 that has taken almost two decades. It took just 42 sessions for the Dow to climb between 19,000 and 20,000, the second-fastest rise between 1,000-point milestones in the average's 120-year history. The Dow's surge in recent months has been fueled by expectations that U.S. President Donald Trump will deregulate banks and stimulate the economy.
  
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• German carmakers warn U.S. against launching trade curbs

  25-01-2017 19:47 via news.yahoo.com
  
  German automakers warned on Wednesday the United States would suffer significant economic damage from imposing trade curbs, after President Donald Trump put renewed pressure on U.S. carmakers to build more vehicles at home. Trump, who took office last Friday, has already signed an order withdrawing the United States from the Trans-Pacific Partnership trade pact and has vowed to re-open the North American Free Trade Agreement (NAFTA) that includes the United States, Canada and Mexico. The new Rep
  
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• Meet the Man Who Will Explain Trump to the World’s Great Economic Powers

  25-01-2017 19:39 via news.yahoo.com
  
  President Trump, who has promised to utterly reshape the United States’ economic relationship with the rest of the world, has named the man who will be the public face of that change for many of the country’s top partners and allies. The Wall Street Journal reported early Tuesday that Kenneth I. Juster, a managing partner with the private equity firm Warburg Pincus, has been named deputy assistant to the president for international economic affairs. Juster will also be in charge of m
  
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• Germany's DAX buoyant but Italian shares lag European stock market rally

  25-01-2017 18:44 via news.yahoo.com
  
  LONDON/MILAN, Jan 25 (Reuters) - European shares rose sharply on Wednesday, boosted by strong earning updates from Logitech and Banco Santander, with the STOXX 600 scoring its biggest one-day gain for 11 weeks. The benchmark index rose 1.3 percent and Germany's DAX rose 1.8 percent to its highest since May 2015, underpinned by gains in Deutsche Bank (IOB: 0H7D.IL - news) as investors welcomed the possible listing of its asset management arm.
  
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• World stocks higher as Dow passes 20,000 points

  25-01-2017 18:36 via news.yahoo.com
  
  London (AFP) - Stock prices on Wall Street powered past the key level of 20,000 points for the first time Wednesday, pulling global markets up with them, as investor concerns eased over Donald Trump's domestic policies.
  
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• Dow hits 20,000 as Trump and earnings reignite rally

  25-01-2017 18:36 via news.yahoo.com
  
  The S&P 500 and the Nasdaq Composite indexes also hit record intraday highs, amid gains across sectors. The Dow came within a point of the historic mark on Jan. 6, as investors banked on pro-growth policies and tax cuts many expect from the new administration. "Trump has a majority of both houses, so the likelihood of things getting done quicker than they usually do is higher," said Mark Spellman, portfolio manager at Alpine Funds.
  
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• Factbox: Lacking leadership, U.S. financial regulators could be in slo-mo for a while

  25-01-2017 18:14 via news.yahoo.com
  
  Wall Street firms waiting for President Donald Trump to usher in a new era of deregulation may have to wait a significant while longer. The agencies expected to unwind financial rules are so strapped for leadership they may not be able to get much done until they staff up. Nearly every major financial regulator currently has significant leadership gaps, in part because the Republican-dominated U.S. Senate has been reluctant to approve nominations that were made by former President Barack Obama,
  
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• Saxo Bank to cut jobs in the digital age

  25-01-2017 17:53
  
  Announcement comes just days after Davos business leaders warned of the threat to white-collar jobs
  
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• Siemens to pick banks for blockbuster Healthineers listing: sources

  25-01-2017 17:32 via news.yahoo.com
  
  By Arno Schuetze and Georgina Prodhan FRANKFURT (Reuters) - German industrial group Siemens will shortly start picking banks to organize a stock market listing of its healthcare business, which could be valued at up to 37 billion euros ($40 billion) including debt, three people close to the matter said. Siemens will invite investment banks in early April to pitch for roles in the initial public offering (IPO), which could be the biggest since the flotation of German energy group Innogy in Octobe
  
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• NYSE plans NYSE American to counter 'Flash Boys' exchange IEX

  25-01-2017 17:29 via news.yahoo.com
  
  The operator of the New York Stock Exchange said on Wednesday it will change the model of its NYSE MKT exchange to implement a so-called speed bump, in a direct challenge to the Investors' Exchange, the newest U.S. stock exchange. NYSE Group, which is owned by Intercontinental Exchange Inc (ICE), said it plans to change the name of NYSE MKT to the NYSE American, and to add a delay for incoming and outgoing orders and proprietary market data. NYSE said NYSE American will have largely the same mod
  
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• Chase, Mint reach deal for faster, more secure data-sharing

  25-01-2017 17:22 via news.yahoo.com
  
  NEW YORK (AP) — Bank customers who use Chase but also want to take advantage of financial tools like Mint or TurboTax will soon be able to send their data faster and more securely between the two companies.
  
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• Dow cracks 20,000 for the first time ever

  25-01-2017 17:13
  
  It has been 42 days since the Dow hit 19,000
  
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• FACTBOX: Dow eclipses 20,000 - historical facts & figures

  25-01-2017 17:00 via news.yahoo.com
  
  After a brief lull, Wall Street resumed its rally this week, moving into stocks expected to benefit from U.S. President Donald's Trump expected policy measures, and on Wednesday put the Dow Jones Industrial Average on track to close above the historic 20,000 level for the first time. Below is a list of facts about the index on its climb to the historic level: ** The average was created by Charles Dow and launched in 1896. ** At its inception, the Dow consisted of only 12 "smokestack" companies -
  
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• Eris Exchange recruits former Bloomberg markets chief

  25-01-2017 16:53
  
  The futures exchange says George Harrington's electronic trading experience can help to build momentum
  
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• Blackstone raises $7.5bn for new secondaries fund

  25-01-2017 16:49
  
  Private equity giant hit its hard cap and 'could have gone higher'
  
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• BlackRock jilts State Street, moves $1 trillion in custody assets to JPMorgan

  25-01-2017 16:40
  
  BOSTON (Reuters) - State Street Corpon Wednesday reported a 3.4 percent drop in fourth-quarter revenue and said it lost more than $1 trillion in custody assets to JPMorgan Chase & Co Inc , sending...
  
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• Exclusive: Germany calls bankers to Frankfurt for Brexit move talks - sources

  25-01-2017 16:13
  
  FRANKFURT/LONDON (Reuters) - German regulators will meet more than 20 foreign banks on Monday to spell out requirements for moving some operations to Frankfurt, people familiar with the matter said,...
  
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• Dow hits 20,000 following solid open for US stocks

  25-01-2017 16:06 via news.yahoo.com
  
  The Dow Jones industrial average crossed the 20,000 mark for the first time in early trading Wednesday, the latest milestone in a record-setting drive for the stock market. The other major U.S. stock indexes ...
  
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• Home-grown African wealth funds seeking foreign partners to fix infrastructure gap

  25-01-2017 16:00
  
  LONDON (Reuters) - Africa, famously short of new roads, ports and power stations, is increasingly leaning on its own sovereign investment funds to help fix its infrastructure gap.
  
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• Your Money: Early financial aid letters shake up college decisions

  25-01-2017 15:48
  
  NEW YORK (Reuters) - The road to college has turned into an autobahn for some high school seniors this year.
  
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• C$ strengthens to 1-week high as greenback dips

  25-01-2017 15:43 via news.yahoo.com
  
  The Canadian dollar strengthened to a one-week high against its U.S. counterpart on Wednesday, one day after U.S. President Donald Trump revived prospects for the Keystone XL pipeline and as the greenback suffered broader losses. The U.S. dollar tumbled to a seven-week low against a basket of currencies on worries that Trump was focusing too much on protectionism and isolationism, and not enough on pro-growth policies. A more protectionist United States would threaten Canada's economy.
  
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• Dow Jones industrial average finishes above 20,000 for first time

  25-01-2017 15:38 via news.yahoo.com
  
  The most famous stock market average in the U.S. crossed the symbolically significant level when markets opened on Wednesday, the third working day of the new administration. "In and of itself, it is just a number," said Quincy Krosby, market strategist at Prudential Financial told AP. New U.S. President Donald Trump has rolled out orders overturning Obama policies every day this week, including moves to pull out of the Trans Pacific Partnership (TPP), and a move to ease regulatory bur
  
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• Dow Jones industrial average cracks 20,000, TSX beats all-time closing high

  25-01-2017 15:38 via news.yahoo.com
  
  The most famous stock market average in the U.S. crossed the symbolically significant level when markets opened on Wednesday, the third working day of the new administration. 
  
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• Hargreaves Lansdown picks former Jupiter exec as CFO

  25-01-2017 15:18
  
  Appointment comes amid senior management changes at the UK retail funds supermaket
  
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• Boeing sees more airliner deliveries, lower defense revenue

  25-01-2017 15:18 via news.yahoo.com
  
  Boeing Co. beat Wall Street expectations for fourth-quarter profit despite a slump in revenue from its defense business. The company forecast Wednesday that deliveries of commercial airplanes will rise ...
  
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• German G20 policy to stay constant after cabinet changes: spokesman

  25-01-2017 15:12 via news.yahoo.com
  
  Germany's Presidency of the G20 will not be affected by alterations in German Chancellor Angela Merkel's cabinet related to changes within the ranks of her Social Democrat (SPD) junior coalition partner. "The continuity of the lines of our foreign and economic policy will remain," government spokesman Steffen Seibert said at a regular government news conference when asked about the G20 presidency.
  
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• WisdomTree hires new capital markets director in Europe

  25-01-2017 14:51
  
  The $40 billion exchange-traded fund provider makes its second senior hire of the month in Europe
  
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• Credit Suisse inks lending deal with £56bn university fund

  25-01-2017 14:47
  
  Innovative partnership lets Credit Suisse reduce its loan book and begin effectively lending out pensioners' money instead of its own
  
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• JP Morgan wins $1trn custody mandate from BlackRock

  25-01-2017 14:37
  
  Bank wins chunk of BlackRock Custodial Asset business from State Street
  
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• Dollar hits seven-week low on Trump worries, sterling jumps

  25-01-2017 14:26 via news.yahoo.com
  
  By Jemima Kelly and Patrick Graham LONDON (Reuters) - The dollar tumbled to a seven-week low against a basket of currencies on Wednesday on worries that U.S. President Donald Trump was focusing too much on protectionism and isolationism, and not enough on pro-growth policies. The biggest gainer among major currencies was sterling, which jumped above $1.26 for the first time in six weeks on hopes for a trade deal between Britain and the United States, which UK Prime Minister Theresa May said on W
  
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• Independent research house sweetens offer for bank analysts

  25-01-2017 14:05
  
  TS Lombard says its new venture will allow analysts to produce research without compromise
  
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• S&P says South Africa needs to deliver growth, fiscal improvements

  25-01-2017 13:49 via news.yahoo.com
  
  South Africa's sovereign credit rating could come under pressure if the country's economic growth and fiscal performance do not improve, the head of the sub-Saharan region of S&P Global Ratings said on Wednesday. "We have certain expectations with regard to GDP growth and certain expectations with regard to fiscal improvements. If there is no delivery in this regard, that could certainly put pressure on the rating," Konrad Reuss told a conference in Johannesburg.
  
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• Reignited Trump trades boost stocks, Dow 20,000 in sight

  25-01-2017 13:48 via news.yahoo.com
  
  World stocks hit a 19-month high on Wednesday, lifted by strong Japanese trade data, stellar European company earnings and expectations that U.S. President Donald Trump will press ahead with a large fiscal spending package. The refocus on Trump's policies aimed at reflating the U.S. economy didn't extend as much to bond and currency markets, where U.S. yields only inched up and the dollar fell across the board, particularly against a resurgent British pound. On Tuesday the S&P 500 and Nasdaq
  
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• S&P 500 futures hit record high as Trump rally returns

  25-01-2017 13:46 via news.yahoo.com
  
  (Reuters) - S&P 500 index futures hit a record intraday high on Wednesday, pointing to a revival of the post-election rally, encouraged by President Donald Trump's push for pro-growth policies.
  
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• Ex-Goldman prop trader departs Brevan Howard

  25-01-2017 13:36
  
  Trader was one of a handful of Goldman staff who joined Brevan's flagship Master Fund in 2011
  
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• UK factory order books strongest since 2015, but costs growing - CBI

  25-01-2017 13:27 via news.yahoo.com
  
  By William Schomberg LONDON (Reuters) - British manufacturers are enjoying their strongest orders in nearly two years but their costs are rising sharply following last year's Brexit vote which pushed down the value of sterling, a survey showed on Wednesday. In the latest sign of how Britain's economy has so far withstood the shock of June's vote to leave the European Union, the Confederation of British Industry's monthly industrial orders balance rose to +5 in January from zero in December. In a
  
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• Aberdeen’s new pay policy splits governance advisers

  25-01-2017 13:13
  
  Martin Gilbert's fund manager faces another testing AGM next week, following 34% oppose vote last year
  
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• S&P says South Africa needs to deliver on growth, fiscal improvements

  25-01-2017 13:07 via news.yahoo.com
  
  South Africa's sovereign credit rating could come under pressure if there is no improvement in its economic growth and fiscal performance, S&P Global Ratings' sub-Saharan region head said on Wednesday. "We have certain expectations with regard to GDP growth and certain expectations with regard to fiscal improvements.
  
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• As Dow tries again to breach 20,000, global stocks buoyant

  25-01-2017 12:59 via news.yahoo.com
  
  LONDON (AP) — Global shares rose strongly Wednesday, building on Wall Street's overnight rally and hopes that the Dow Jones index will finally break through the 20,000 mark for the first time ever.
  
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• Germany clings to growth hopes as Trump clouds gather

  25-01-2017 12:43 via news.yahoo.com
  
  The German government on Wednesday maintained its growth forecast for 2017, even as a monthly survey showed firms increasingly nervous about the future in the face of global uncertainty. Europe's largest economy should expand by 1.4 percent in 2017 after hitting 1.9 percent last year, the economy ministry in Berlin said in a statement. "The German economy is in very good condition," said Economy Minister Sigmar Gabriel, adding that "the effect of a lower number of working days" compared with 201
  
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• ECB could 'soon' exit monetary stimulus: board member

  25-01-2017 12:39 via news.yahoo.com
  
  The European Central Bank should soon be in a position to reduce its extraordinary monetary support to the eurozone economy, board member Sabine Lautenschlaeger has said. "I am optimistic that we can soon turn to the question of an exit," the German economist said in a speech in Hamburg late Tuesday. "A broad-based recovery is under way," Lautenschlaeger went on.
  
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• Fear of US trade sanctions grows among German managers

  25-01-2017 12:04 via news.yahoo.com
  
  BERLIN (AP) — A closely-watched survey of business confidence in Germany, Europe's largest economy, dropped in January as managers worried about the uncertainty associated with the advent of Donald Trump's presidency.
  
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