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Financial News from Reuters

  • Brazilians vote on Sunday in a bitterly-contested election that pits a leftist president with strong support among the poor against a centrist senator who is promising pro-business policies to jumpstart a stagnant economy. Polls give a slight edge to incumbent Dilma Rousseff, 66, who is seeking a second four-year term. …

  • Uruguayans vote on Sunday in a presidential election with the ruling leftist party trying to fend off a young center-right challenger who promises to undo a pioneering marijuana law. Outgoing President Jose Mujica, a 79-year-old former guerrilla, is seeking to hand power back to his predecessor Tabare Vazquez. Between …

  • A man stands next to a logo of Panasonic Corp inside an electronics retail store in Tokyo

    Panasonic Corp said it is transferring its Sanyo television unit in the U.S., which supplies sets to Wal-Mart Stores, to Funai Electric Co. of Japan in return for annual royalty payments. The move allows Panasonic <6752.T> to exit an unprofitable business. The transfer of the unit will likely be completed before the end …

  • The skyline of the banking district is pictured in Frankfurt

    After putting the euro zone's top 130 banks through their paces, the European Central Bank will face a test of its own on Sunday - will its landmark health check succeed in convincing investors the region's lenders are safe? The ECB will announce the names of 25 banks that held too little capital at the end of last year, …

  • Panasonic Corp plans to sell its Sanyo television unit in the U.S., which supplies sets to Wal-Mart Stores, to Funai Electric as it steps back from unprofitable businesses, the Nihon Keizai newspaper reported. Shedding the Sanyo business fits with Panasonic's strategy of pulling back for consumer electronics in a bid to …

  • Tunisians elect a new parliament on Sunday as the prospect of a full democracy finally comes within their reach, four years after they cast out autocrat Zine El-Abidine Ben Ali. Tunisia has fared better than neighbours who also ousted their own long-ruling leaders during the Arab Spring uprisings, largely avoiding their …

  • Federal health regulators granted emergency authorization on Saturday for two new tests made by BioFire Defense that detect Ebola in humans, highlighting new steps by the government to prevent a severe outbreak in the United States. Food and Drug Administration has been working closely with Salt Lake City-based BioFire, …

  • A skydiving Google executive is safely back on Earth after jumping out of a giant balloon floating in the stratosphere more than 25 miles (40 km) above New Mexico, a feat that broke the sound barrier and shattered a world altitude record. Alan Eustace, a senior vice president at the Mountain View, California-based company, …

  • Five people have been injured, one critically, after an explosion at a tank car maintenance facility in Sarnia, Ontario, police and the city's mayor said on Saturday. Police in the city, home to a number of oil refineries and petrochemical plants, said on Twitter the fire at the Veolia Environmental Services site had been …

  • A Space Exploration Technologies Dragon cargo ship ended a monthlong stay at the International Space Station on Saturday and splashed down on schedule in the Pacific Ocean near Mexico. "Dragon is free," mission commentator Rob Navias said during a live broadcast on NASA TV.

  • The Transportation Department will conduct an internal review of U.S. The official, who spoke on condition of anonymity, said the review of the National Highway Traffic Safety Administration would look at what has occurred and what can be done better to ensure safety. The news of the review emerged days after Toyota Motor …

  • Italian lawmakers have put forward a proposal for free Wi-Fi in thousands of public places to bridge a gap with other European countries in broadband penetration, e-government and other digital services that is dragging on the economy. Under the plan, large shops, taxis, airports, law courts and other public places would …

  • A man walks past Deutsche Bank offices in London

    A senior Deutsche Bank regulatory lawyer has been found dead in New York after committing suicide, New York City officials said on Saturday. Calogero Gambino, 41, was found on the morning of Oct. 20 at his home in the New York borough of Brooklyn and pronounced dead on the scene, according to New York City police. Gambino …

  • A Space Exploration Technologies Dragon cargo ship ended a month-long stay at the International Space Station on Saturday and headed for a splash-down in the Pacific Ocean. NASA astronauts Reid Wiseman and Barry Wilmore used the station's robotic crane to release the capsule, built and operated by California-based SpaceX, …

  • In the western Tunisian city of Kasserine, campaign posters plastered on walls make plain what many voters want from Sunday's parliamentary election -- jobs, whose scarcity has fuelled unrest and militancy. Alongside portraits of would-be lawmakers and party logos, scores of young people have posted resumes, hoping to …

  • * Resignation adds to Labour problems in key region * Scottish nationalists says Labour in "meltdown" * Blair denies report he thinks Labour will lose May vote (Adds SNP reaction, Blair) LONDON, Oct 25 (Reuters) - The head of Britain's opposition Labour party in Scotland has unexpectedly quit, further unsettling the …

  • Greybull Capital buys UK's Monarch Reuters - 20 hours ago

    British holidays and airline company Monarch has been acquired by investment firm Greybull Capital which will pump 125 million pounds ($201 million) into the company as it turns itself into a budget airline. Greybull took a 90 percent stake in Monarch, with the rest passing to its pension scheme, the two firms said in …

  • The Olkiluoto 3 (OL3) nuclear power plant, which is under construction, is pictured in Eurajoki

    The French-German consortium Areva-Siemens (AREVA.PA)(SIEGn.DE), the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO), TVO said late on Friday. TVO and Areva have traded accusations about who is to blame for delays and extra costs, …

  • The head of Britain's opposition Labour party in Scotland has quit, unsettling the party in one of its heartlands ahead of national elections in May next year. Johann Lamont said in a newspaper interview that she was standing down with immediate effect, little more than a month after a referendum in Scotland when Labour …

  • * Separatists use Akhmetov factory to repair combat vehicles DONETSK, Ukraine, Oct 24 (Reuters) - The clanging of repairs to tanks and heavy armoured vehicles rings out from a factory in eastern Ukraine that is owned by the country's richest man but was taken over by pro-Russian rebels. Rinat Akhmetov's Corum company …

  • India's Finance and DM Jaitley arrives to attend a meeting with the finance ministers of Indian states on GST issues in New Delhi

    India's Finance Minister Arun Jaitley favors a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the central bank has signal it will not ease policy until it is confident of lower inflation. "Currently, interest rates are a disincentive. Now that inflation seems …

  • Dong, Secretary General of the China Association of Automobile Manufacturers, claps while speaking at the cross strait automobile conference in Taipei

    Growth in China's auto market, the world's biggest, will halve to 7 percent this year weighed down by a slowing economy, the head of an industry body said on Saturday. "Personally, I think growth this year can reach 7 percent," Dong Yang, secretary general of the China Association of Automobile Manufacturers (CAAM), told …

  • India's finmin favours interest rate cut-paper Reuters - Sat, Oct 25, 2014 2:18 AM EDT

    India's Finance Minister Arun Jaitley favours a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the central bank has signal it will not ease policy until it is confident of lower inflation. "Currently, interest rates are a disincentive. Now that inflation seems …

  • JGBs bolstered by Ebola fears, BOJ operations Reuters - Sat, Oct 25, 2014 12:47 AM EDT

    Japanese government bonds rose on Friday, with the benchmark 10-year yield dropping to a fresh 1-1/2-year low, as the Bank of Japan's operation adjustment underpinned the market and news that a New York doctor has tested positive for the Ebola virus undermined risk appetite. The BOJ moved to increase the size of its JGB …

  • Brazil presidential campaign ends in slugfest over corruption Reuters - Sat, Oct 25, 2014 12:42 AM EDT

    Presidential candidates traded accusations over political corruption on Friday night in a last ditch attempt to sway undecided voters before Sunday's election runoff in Brazil's closest race in decades. In the final television debate of a bitter campaign, leftist President Dilma Rousseff and pro-business opposition candidate …

  • Port squeeze threatens US retailers' holiday stocking plans Reuters - Fri, Oct 24, 2014 11:53 PM EDT
    Container ships sit in berths at the Port of Los Angeles

    The delays are affecting retailers including JC Penney Co (JCP.N), Macy's Inc (M.N), Kohl's Corp (KSS.N) Nordstrom Inc (JWN.N), American Eagle (AEO.N), Ralph Lauren (RL.N) and Carter's (CRI.N), according to three people with direct knowledge of the situation. Retail giant Wal-mart Stores Inc (WMT.N), recently diverted …

  • Railcar maker Trinity Industries Inc said on Friday that it would stop shipping a highway guardrail system, after the U.S. The guardrail system consists of a flat piece of metal at the front of the guardrail which is intended to protect vehicle occupants in crashes. On Monday, a federal jury in Marshall, Texas, found …

  • Look to energy names for global demand clues Reuters - Fri, Oct 24, 2014 9:02 PM EDT
    A Wall Street sign is pictured in the rain outside the New York Stock Exchange

    Profit growth expectations for S&P 500 energy companies have fallen more than any other sector - from a forecast of 13.8 percent on July 1 to the current 1.8 percent, Thomson Reuters data showed. With various names due to report next week, including Exxon Mobil (XOM.N), Chevron (CVX.N), ConocoPhillips (COP.N) and National …

  • A magnifying glass is held in front of a computer screen in this picture illustration taken in Berlin

    A Massachusetts man was sentenced to 21 months in prison on Friday for his role in a cybercrime scheme that hacked accounts at banks, brokerage firms and government agencies in an attempt to steal more than $15 million, U.S. Robert Dubuc, 41, pleaded guilty to wire fraud conspiracy, conspiracy to commit access device fraud …

  • Independent candidate Ralph Nader speaks on the state of his campaign.

    The five-time presidential candidate wrote in a letter published by the paper that poverty wages and harmful conditions are "a consequence of tolerating outrageous stock buybacks." "'Designed by Apple in California' has a nicer ring to it than 'assembled by workers paid about a dollar per hour, working 11-hour shifts, …

  • Ocwen Financial Corp said it was hiring an independent firm to investigate how the mortgage servicer had sent backdated letters to borrowers about loan modifications and foreclosures and the reason for the delay in fixing the issue. Hundreds of thousands of borrowers facing foreclosure may have been harmed after they received …

  • Wall St. finally turning on Amazon as Bezos magic fades Reuters - Fri, Oct 24, 2014 7:09 PM EDT
    Amazon CEO Bezos is silhouetted during a presentation of his company's new Fire smartphone in Seattle

    SAN FRANCISCO/BOSTON (Reuters) - Amazon.com Inc's (AMZN.O) once fairy-tale ride on Wall Street has hit its most jarring bump yet. Amazon missed expectations across the board - on margins, on its net loss and on revenue. "They're becoming much too distracted in all these other efforts" outside core businesses like online …

  • Google's Pichai to oversee major products and services Reuters - Fri, Oct 24, 2014 6:54 PM EDT
    Pichai, Google's senior vice president of Android, Chrome and Apps, speaks about wearables during his keynote address at the Google I/O developers conference in San Francisco

    Google Inc Chief Executive Officer Larry Page has put Sundar Pichai, one of his key lieutenants, in charge of the Internet company's products. The India-born executive will have oversight over products such as search, maps, Google+, commerce, advertising and infrastructure, according to a Google spokesman. Six executives …

  • Fannie Mae settles shareholder lawsuit for $170 million Reuters - Fri, Oct 24, 2014 6:32 PM EDT
    Woman walks past Fannie Mae in Washington

    Fannie Mae has reached a $170 million settlement of a lawsuit accusing it of misleading shareholders about its finances, risk management and mortgage exposure before it was seized by the U.S. government ...

  • District Judge Thomas Griesa in Manhattan in a brief order Friday said the hearing, originally set for Dec. 2, will now take place Dec. 9. An interest payment is due Dec. 31 by Argentina on U.S. Citigroup has said it faces regulatory and criminal sanctions by Argentina if it cannot process the country's payments. Argentina …

  • U.S. judge blocks New Jersey sports betting law Reuters - Fri, Oct 24, 2014 6:19 PM EDT

    A federal judge issued a temporary restraining order on Friday blocking a New Jersey law that would have allowed legal betting on sporting events. District Judge Michael Shipp gave the order orally in court and planned to issue a written order later in the day, according to his chambers. The National Football League and …

  • Lantern gets early funding for mental health therapy app Reuters - Fri, Oct 24, 2014 6:12 PM EDT

    Lantern, a technology startup that offers online and mobile coaching programs to support mental health, has won early backing for its service. Facebook Inc Chief Product Officer Chris Cox is serving as an advisor. While most patients visit therapists at a physical office, Lantern said its founding team has found that …

  • Google's Pichai to oversee major products and services -blog Reuters - Fri, Oct 24, 2014 6:05 PM EDT

    Google Inc Chief Executive Officer Larry Page has put Sundar Pichai, one of his key lieutenants, in charge of the Internet company's products, according to technology blog Re/code. The India-born executive ...

  • Securities and Exchange Commission's announcement earlier this week that it intends to deny proposals from Precidian Investments and BlackRock Inc to be allowed to create such ETFs. Because the NYSE filing is linked to the Precidian funds, the rejection of the exchange's proposed rule change was largely expected. Regulators …

  • Nasdaq short interest up 1.1 pct in mid-October Reuters - Fri, Oct 24, 2014 5:49 PM EDT

    Short interest on the Nasdaq rose 1.1 percent in mid-October, exchange data showed on Friday. As of Oct. 15, short interest rose to about 9.019 billion shares, compared with 8.921 billion shares as of ...

  • A Hewlett-Packard logo is seen at the company's Executive Briefing Center in Palo Alto

    The buyer likely needs to be based in China if the deal is to win Chinese government approval, the newspaper reported. Another Chinese technology company could also buy H3C, a major supplier of corporate data-networking gear in the country, although it is more likely to be sold to a private equity group, the Journal said, …

  • Earlier this week, I told you about new filings by the Canadian pharmaceutical company Valeant and the hedge fund Pershing Capital that suggested their target Allergan had disregarded advice from its financial adviser Goldman Sachs. The Pershing and Valeant briefs were heavily redacted and the underlying exhibits were …

  • A Massachusetts man was sentenced to 21 months in prison on Friday for his role in a cybercrime scheme that hacked accounts at banks, brokerage firms and government agencies in an attempt to steal more than $15 million, U.S. Robert Dubuc, 41, pleaded guilty to wire fraud conspiracy, conspiracy to commit access device fraud …

  • Ebola fears likely to become less scary for US investors Reuters - Fri, Oct 24, 2014 5:33 PM EDT

    Market fluctuations eased on Friday and the Standard & Poor's 500 index ended its best week in almost two years as fears dwindled that the first Ebola diagnosis in New York could lead to widespread contagion in the nation's financial capital. Travelers from Ebola-affected countries in West Africa will undergo interviews …

  • As Ebola hits, New Yorkers maintain wary calm Reuters - Fri, Oct 24, 2014 5:17 PM EDT

    News of New York's first case of Ebola was met with worry and even anger on Friday, but for this city of eight million residents, seasoned by everything from terror attacks to superstorms, there was little sign of panic. Dr. Craig Spencer, 33, who treated Ebola patients in West Africa, was moved with elaborate precautions …

  • The company logo is seen on the bonnet of a Ford car during the media day ahead of the 84th Geneva Motor Show in Geneva

    Ford Motor Co's (F.N) new chief executive, Mark Fields, is giving the automaker's long-moribund Lincoln brand what his predecessor Alan Mulally never could: a little love and a lot of cash. Lincoln, a storied Detroit brand which Ford has owned since 1922, has been in a swoon for the past two decades, leaving dealers and …

  • Ford rejects push for investment in Ontario plants: union Reuters - Fri, Oct 24, 2014 5:15 PM EDT

    Ford Motor Co has rejected a pitch to make a new investment in its Windsor, Ontario, plants and decided to put the money in Mexico as the company originally planned, the head of Canada's main auto workers' union said on Friday. Unifor President Jerry Dias called the decision a significant blow, saying the program would …

  • The Pentagon and Congress have better-than-ever odds of reaching agreement on how to streamline myriad overlapping laws that slow the process for buying military equipment and services, a top Defense Department official said. "I am optimistic," Andrew Hunter, a former congressional aide who helped draft many of those laws …

  • A key shareholder in Brazilian steelmaker Usinas Sider├║rgicas de Minas Gerais SA said on Friday that industry veteran Tulio Chipoletti was named as senior industrial vice president on a temporary basis. ...

  • Mexican construction company ICA reports 3rd-qtr loss Reuters - Fri, Oct 24, 2014 5:07 PM EDT

    Mexican construction company ICA on Friday reported a third-quarter loss, hurt by a sharp increase in financial costs that offset higher revenue. The company reported a loss of 769 million pesos , compared ...

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