Financial News from Reuters

  • Vivendi keeps negotiating with Mediaset despite public spat: sources Reuters - 1 minute 24 seconds ago
    Vivendi keeps negotiating with Mediaset despite public spat: sources

    PARIS/MILAN (Reuters) - French media giant Vivendi (VIV.PA) and Italian broadcaster Mediaset (MS.MI) are negotiating behind closed doors to forge an alternative partnership despite an ongoing war of words over a disputed pay-tv deal, three sources close to the matter told Reuters. Vivendi, led by billionaire Vincent Bollore, said on Thursday that the binding share-swap agreement it signed in April with Mediaset for its Premium pay-TV unit could be void after Sept. 30, citing the initial regulatory calendar to obtain the go-ahead from the European Commission. Mediaset and its controlling shareholder Fininvest swiftly rejected Vivendi's assertions in two separate statements.

  • US STOCKS-Wall St slips on healthcare, consumer names; Fed eyed Reuters - 4 minutes 49 seconds ago

    U.S. stocks were modestly lower on Thursday, weighed down by a drop in healthcare and consumer names, while financials advanced slightly after two more Federal Reserve officials pushed the case for a rate hike. Healthcare stocks, down 0.8 percent, came under pressure for a second straight day.

  • Judge lets ex-NY assembly speaker Silver stay free during appeal Reuters - 9 minutes ago

    Sheldon Silver, the former speaker of the New York State Assembly, can stay free on bail while he appeals his corruption conviction, a Manhattan federal judge ruled on Thursday. U.S. District Judge Valerie ...

  • CANADA STOCKS-TSX edges higher as mining stocks rebound Reuters - 11 minutes ago

    Canada's main share index edged higher on Thursday as mining stocks pared some recent losses before the start of a global central bankers' gathering in Jackson Hole, Wyoming. The Toronto Stock Exchange's ...

  • Oil up on U.S.-Iran scare, dollar; Saudi output stance cuts gains Reuters - 11 minutes ago
    Oil up on U.S.-Iran scare, dollar; Saudi output stance cuts gains

    Oil prices rose 1 percent on Friday on U.S.-Iran military tensions in the Gulf and speculation the dollar will fall on a monetary policy speech due from the U.S. Federal Reserve chair. The market, however, gave back some gains after an interview by Saudi Arabia's energy minister with Reuters raised fresh doubts about a potential OPEC output freeze. Crude futures rallied toward the close after a U.S. defense official said a U.S. Navy ship fired three warning shots after an Iranian fast-attack craft approached two U.S. ships in the northern Gulf on Wednesday.

  • MOVES-Citadel hires ex BlueCrest portfolio manager for London office Reuters - 11 minutes ago

    Former BlueCrest Capital Management portfolio manager Ashish Goyal is set to join hedge fund manager Citadel, a Citadel spokesman said on Thursday. Goyal will start at Citadel's London office in November ...

  • GameStop quarterly revenue falls 7.4 percent Reuters - 14 minutes ago
    GameStop quarterly revenue falls 7.4 percent

    GameStop Corp , the world's largest retailer of video games, reported a 7.4 percent fall in quarterly revenue, hurt by lower sales of new gaming software and hardware. Net income rose to $27.9 million, ...

  • U.S. agency rolls out refinance program for homeowners Reuters - 16 minutes ago
    U.S. agency rolls out refinance program for homeowners

    The regulator of Fannie Mae and Freddie Mac unveiled on Thursday a program aimed at homeowners who are paying their mortgages on time but whose loan-to-value (LTV) ratios are too high to qualify for traditional refinance programs. "This new offering will give borrowers the opportunity to refinance when rates are low, making their mortgages more affordable and thus reducing credit risk exposure for Fannie Mae and Freddie Mac," said FHFA Director Melvin Watt in a statement. Because this program for high LTV borrowers will not be available until October 2017, the agency said it will extend the Home Affordable Refinance Program (HARP) until Sept. 30, 2017 as a bridge to the new high LTV program.

  • Brazil's economy sheds 94,724 payroll jobs in July - ministry Reuters - 17 minutes ago

    Brazil's economy shed a net 94,724 payroll jobs in July, the Labor Ministry said on Thursday, taking total job losses over the past 12 months to 1.7 million as the country continues to reel from a deep recession. Job cuts increased from June, when Brazilian companies shed 91,032 payroll jobs, but were not as steep as in July 2015, when the economy lost 157,905 jobs. Brazil's economy is expected to shrink more than 3 percent for a second straight year in 2016, with over 11 million workers officially considered unemployed.

  • Wall St. slips with healthcare, consumer names Reuters - 18 minutes ago
    Wall St. slips with healthcare, consumer names

    U.S. stocks were modestly lower on Thursday, weighed down by a drop in healthcare and consumer names, while financials advanced slightly after two more Federal Reserve officials pushed towards the case ...

  • US STOCKS SNAPSHOT-Wall St slips with healthcare, consumer names Reuters - 20 minutes ago

    U.S. stocks were modestly lower on Thursday, weighed down by a drop in healthcare and consumer names, while financials advanced slightly after two more Federal Reserve officials pushed towards the case ...

  • August U.S. auto sales seen down 5.2 percent; 2015 was peak: forecasters Reuters - 21 minutes ago
    August U.S. auto sales seen down 5.2 percent; 2015 was peak: forecasters

    August U.S. auto sales will be 5.2 percent below a year ago, adding to evidence that the peak of industry sales was in 2015, consultancies J.D. Power and LMC Automotive said on Thursday. "With mixed economic signals, it certainly looks like U.S. auto sales may have peaked in 2015," said Jeff Schuster, head of forecasting at LMC. The consultancies said they expect August U.S. total auto sales of 1,492,700 vehicles, from 1,574,938 a year earlier.

  • August U.S. auto sales seen down 5.2 pct; 2015 was peak -forecasters Reuters - 23 minutes ago

    August U.S. auto sales will be 5.2 percent below a year ago, adding to evidence that the peak of industry sales was in 2015, consultancies J.D. Power and LMC Automotive said on Thursday. "With mixed economic signals, it certainly looks like U.S. auto sales may have peaked in 2015," said Jeff Schuster, head of forecasting at LMC. The consultancies said they expect August U.S. total auto sales of 1,492,700 vehicles, from 1,574,938 a year earlier.

  • LATAM CLOSE-No deals price in LatAm primary market Reuters - 28 minutes ago

    * Brazil's BNDES expands credit to big companies * Chile's Codelco places debt in local market * Brazil defaults show signs of stability despite July rise By Paul Kilby and Anthony Rodriguez NEW YORK, ...

  • FOREX-Dollar inches lower as investors await Yellen's Jackson Hole speech Reuters - 37 minutes ago

    The dollar slipped on Thursday as some investors squared positions before the annual global central bankers' gathering in Jackson Hole, Wyoming, where Federal Reserve Chair Janet Yellen may offer new guidance on U.S. monetary policy. Recent upbeat statements on the U.S. economy by Fed officials including Vice Chairman Stanley Fischer and New York Fed President William Dudley have prompted investors to raise bets interest rates will increase sooner rather than later. Some believe Yellen could echo their signals.

  • Pre-crisis mortgage bonds still haunting investors Reuters - 39 minutes ago

    A New York City property that investors were told would be the home of another iconic Apple store has instead wound up stuck in a mortgage bond facing hundreds of millions in unpaid debt. Apple never built a store on the 34th Street site and, like much of the bond's remaining US$1.7bn collateral, not one penny of the principal on its US$100m mortgage has been repaid. Wachovia Securities, which sold the commercial mortgage-backed bond (CMBS), long ago went out of business.

  • Bank of Canada seen keeping inflation target as Poloz hits Jackson Hole Reuters - 51 minutes ago

    Canada will likely maintain its 2 percent inflation target and bypass alternative policy goals when the central bank renews its inflation-control agreement this year, strategists say, but the main measure of core inflation may change. The Bank of Canada and government set an inflation targeting agreement, which guides the bank's interest rate decisions, every five years and the next update is this fall. Stubbornly low inflation and low or sub-zero interest rates in many countries have sparked discussion among global central bankers about alternative policy goals, including price-level and nominal gross domestic product targeting.

  • France's Faurecia recasts interiors for self-driving cars Reuters - 1 hour 1 minute ago
    France's Faurecia recasts interiors for self-driving cars

    With self-driving cars expected on the road within three to five years, French supplier Faurecia SA is focusing on the cabin of future autonomous cars. Faurecia, partly owned by French automaker Peugeot Citroen, is one of the world's largest suppliers of automotive seats and interiors. It envisions next-generation cockpits for "new behaviors, when vehicles are no longer designed solely for driving," said Matt Benson, head of ventures and advanced innovation at the company's xWorks operation in a former furniture factory in this small city in western Michigan.

  • Mediaset says Vivendi comments on pay-TV deal devoid of legal, commercial basis Reuters - 1 hour 4 minutes ago

    Italian broadcaster Mediaset (MS.MI) said that statements released by Vivendi (VIV.PA) on Thursday regarding a disputed pay-TV deal were devoid of any legal or commercial basis. Vivendi last month rejected the terms for its purchase of Mediaset's pay-TV unit Premium, saying its analysis of Premium's financial forecasts differed from those provided by Mediaset. The French media group implied on Thursday that time was on its side, saying the binding share-swap agreement it signed in April with Mediaset could be void after Sept. 30, citing the initial regulatory calendar to obtain the go-ahead from the European Commission.

  • Global markets subdued ahead of Fed speech, healthcare stocks dip Reuters - 1 hour 6 minutes ago
    Global markets subdued ahead of Fed speech, healthcare stocks dip

    The start of a central bankers' meeting in the mountains of Wyoming, which could clarify the path of U.S. interest rate policy, kept most investors from making big bets on Thursday. Federal Reserve Chair Janet Yellen will deliver the keynote speech on Friday, when she may struggle to convince financial markets she can steer a divided U.S. central bank to raise interest rates at least once in 2016 after it started the year with four hikes on its radar. "We still have got this disconnect between markets and the Fed," St. Louis Federal Reserve President James Bullard told reporters last week.

  • TREASURIES-Yields rise after weak auction, before Yellen speech Reuters - 1 hour 7 minutes ago

    Demand for the seven-year debt was likely dented by some nervousness before Yellen's speech. Numerous regional Fed presidents in the past few weeks have painted a more upbeat picture of the economy. That said, Yellen may struggle to convince markets she can steer a divided Fed to hike rates this year after it started the year with four hikes on its radar.

  • GLOBAL MARKETS-Markets subdued ahead of Fed speech, healthcare stocks dip Reuters - 1 hour 8 minutes ago

    Federal Reserve Chair Janet Yellen will deliver the keynote speech on Friday, when she may struggle to convince financial markets she can steer a divided U.S. central bank to raise interest rates at least once in 2016 after it started the year with four hikes on its radar. "We still have got this disconnect between markets and the Fed," St. Louis Federal Reserve President James Bullard told reporters last week.

  • California Assembly passes bill for private worker retirement plan Reuters - 1 hour 37 minutes ago

    A bill to create a state-run retirement savings plan for roughly 7 million private workers in California advanced through the state Assembly on Thursday. The bill would launch a retirement savings program ...

  • US STOCKS-Wall St dips on consumer, healthcare; Fed in focus Reuters - 1 hour 39 minutes ago

    U.S. stocks edged lower on Thursday, weighed down by a drop in consumer and healthcare names, while financials rose modestly after two more Federal Reserve officials pushed towards the case for a rate hike. Consumer discretionary stocks fell 0.5 percent after disappointing results from a trio of retailers in Dollar Tree, down 9.6 percent, Dollar General, off 17 percent, and Signet Jewelers, which slumped 13 percent. Comments from Kansas City Fed President and voting member Esther George, as well as Dallas Fed President Robert Kaplan, followed the hawkish tone set by key Fed policymakers in recent days.

  • Exclusive: Venezuela's oil imports slump on payment woes, economic meltdown Reuters - 1 hour 43 minutes ago
    Exclusive: Venezuela's oil imports slump on payment woes, economic meltdown

    Venezuela has not been able to import all the crude and fuel it needs this year to cover shortfalls at oilfields and refineries as state-run PDVSA struggles to pay suppliers on time, according to trade sources and internal company data seen exclusively by Reuters. The decline is the largest in five years as the worst economic crisis in decades undermines PDVSA's ability to buy oil imports, which fell 21 percent in the first seven months of this year to 154,465 barrels per day (bpd), the data showed. Venezuela is also on track to suffer its steepest annual oil output drop in 14 years after years of state mismanagement and under investment.

  • Apple fixes serious security flaw after UAE dissident's iPhone targeted Reuters - 1 hour 46 minutes ago
    Apple fixes serious security flaw after UAE dissident's iPhone targeted

    Apple Inc (AAPL.O) issued a patch on Thursday to fix a dangerous security hole in iPhones and iPads after researchers discovered that a prominent United Arab Emirates dissident's phone had been targeted with a previously unknown method of hacking. The attack on the dissident, Ahmed Mansoor, used a text message that invited him to click on a web link. Instead of clicking, he forwarded the message to researchers at the University of Toronto's Citizen Lab.

  • Hungry Nomad Foods ready to start M&A shopping again Reuters - 1 hour 51 minutes ago

    Nomad Foods is ready to start looking at more acquisitions now that it has integrated last year's purchase of Findus Group's European businesses, Chief Executive Stefan Descheemaeker said on Thursday. Founded last year by serial dealmakers Martin Franklin and Noam Gottesman as a vehicle to consolidate the frozen foods industry, Nomad has spent this year combining Findus with its existing business from Iglo Group.

  • Volkswagen to spend at least $1.2 billion to compensate U.S. dealers: sources Reuters - 1 hour 55 minutes ago
    Volkswagen to spend at least $1.2 billion to compensate U.S. dealers: sources

    Volkswagen AG (VOWG_p.DE) has agreed to spend more than $1.2 billion to compensate its 650 U.S. dealers for their losses from the German automaker's diesel emissions scandal, two sources briefed on the matter said on Thursday. The company and a lawyer for the VW brand dealers announced a tentative settlement at a court hearing in San Francisco on Thursday, but declined to disclose the amount. The settlement, which followed talks that began in May, came as a judge ordered VW to move quickly to decide whether to fix or buy back 85,000 luxury vehicles with polluting engines.

  • Argentine soy growers fret seed royalties bill might favor Monsanto Reuters - 1 hour 56 minutes ago

    Argentine soy farmers fear they will get shortchanged under a proposal they say would favor U.S. agricultural company Monsanto Co by forcing them to pay royalties on seeds grown on their own farms using the company's genetically modified technology. Farmers in Argentina's Pampas grains belt say they should have to pay only once, or maybe twice, for seeds containing Monsanto's Intacta RR2 PRO technology. Monsanto says to plant seeds grown with that technology without paying royalties - something that the current law allows - amounts to copyright infringement.

  • Volkswagen to spend at least $1.2 bln to compensate U.S. dealers -sources Reuters - 1 hour 57 minutes ago

    Volkswagen AG has agreed to spend more than $1.2 billion to compensate its 650 U.S. dealers for their losses from the German automaker's diesel emissions scandal, two sources briefed on the matter said on Thursday. The company and a lawyer for the VW brand dealers announced a tentative settlement at a court hearing in San Francisco on Thursday, but declined to disclose the amount. The settlement, which followed talks that began in May, came as a judge ordered VW to move quickly to decide whether to fix or buy back 85,000 luxury vehicles with polluting engines.

  • Zuma says backs finance minister but can't stop investigation Reuters - 1 hour 59 minutes ago

    South African President Jacob Zuma said on Thursday he backed Finance Minister Pravin Gordhan but was powerless to stop a police investigation into him, signalling a prolonged tussle that could rock markets further. Gordhan is facing an investigation over a suspected surveillance unit set up years ago when he was in charge of the tax service. The rand has tumbled 5 percent since Tuesday when news of the investigation broke, with analysts saying Zuma had offered only qualified support to Gordhan.

  • No specific action on OPEC freeze discussed yet: Saudi energy minister Reuters - 2 hours 2 minutes ago
    No specific action on OPEC freeze discussed yet: Saudi energy minister

    Saudi Arabian Energy Minister Khalid Al-Falih does not believe it is necessary for any "significant intervention" in oil markets at this time, he told Reuters following a speech on Thursday. ...

  • Regulators to dig deeper into worries over money-laundering checks Reuters - 2 hours 6 minutes ago
    Regulators to dig deeper into worries over money-laundering checks

    Global regulators will try to get more insight into why major banks are withdrawing from handling cross-border payments, making it harder for people to send money to relatives and loved-ones abroad. Banks say it has become more costly to comply with tougher customer checks against money-laundering and terrorist financing, putting pressure on regulators to ease up. The Financial Stability Board (FSB), which coordinates regulation across the Group of 20 economies (G20), says it is worried that fewer major banks are offering smaller banks correspondent relationships, the links which enable such remittances.

  • U.S. SEC fines 13 advisers for false claims involving F-Squared Reuters - 2 hours 12 minutes ago
    U.S. SEC fines 13 advisers for false claims involving F-Squared

    AssetMark Inc of Concord, California, agreed to pay $500,000, the largest penalty among the 13 firms, the SEC said. The firms also included a unit of North Carolina-based BB&T Corp and Hilliard Lyons of Louisville, Kentucky. The penalties are based on the fees each firm earned from F-Squared's flagship "AlphaSector" strategy, a customized model for allocating investors' assets in exchange-traded funds, stocks and bonds, the SEC said.

  • Bids at U.S. 7-year note sale weakest in six months Reuters - 2 hours 24 minutes ago

    Overall demand at Thursday's $28 billion U.S. seven-year Treasury note auction was the lowest in six months, resulting in a higher-than-expected yield of 1.423 percent, Treasury data showed. At the prior seven-year auction in July, this gauge on seven-year auction demand was 2.51. This was their smallest share at a seven-year note auction since February and was lower than July's 65.46 percent.