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Financial News from Reuters

  • A man passes by an illuminated IBM logo at the CeBIT computer fair in Hanover

    International Business Machines Corp brought back annual performance bonuses for its chief executive and her top lieutenants for 2014 despite falling profits and a tumbling stock price, a regulatory filing showed on Friday. The technology company, which has posted lower revenue for 11 quarters in a row as it struggles …

  • International Business Machines Corp brought back annual performance bonuses for its chief executive and her top lieutenants for 2014 despite falling profits and a tumbling stock price, a regulatory filing showed on Friday. The technology company, which has posted lower revenue for 11 quarters in a row as it struggles …

  • Photo illustration of logo of car-sharing service app Uber on a smartphone over a reserved lane for taxis in a street in Madrid

    A U.S. judge appeared skeptical on Friday about Uber's bid for a quick pretrial ruling that its drivers are contractors and not employees, a critical question facing Silicon Valley's sharing economy. App-based ride service Uber, and smaller rival Lyft, face separate lawsuits seeking class action status in San Francisco …

  • Elliott Management Corp said it appointed senior portfolio manager Steven Kasoff as its fourth equity partner, the Wall Street Journal reported, citing an investor letter from the hedge fund. Kasoff, 43, ...

  • Drug developer Chimerix Inc said it would stop participation in clinical studies of its Ebola drug, brincidofovir, citing a significant decrease in the number new cases for the virus in Liberia. The decision was announced after the company's discussions with the U.S. Food and Drug Administration. Brincidofovir was …

  • A US. Foods truck is shown on delivery in in San Diego

    Food distributor Sysco Corp (SYY.N) and its biggest rival, US Foods Inc (USFOO.UL), have offered to sell a smaller competitor 11 facilities in order to convince skeptical antitrust regulators to approve their $3.5 billion merger, a source briefed on the matter told Reuters. The deal, proposed in December 2013, is seen …

  • Hedge funds lost a court bid to get extra cash for their shares of online family research site Ancestry.com Inc, in a ruling involving an increasingly popular hedge fund strategy. A Delaware judge ruled on Friday that a private equity firm paid a fair value of $32 per share in 2012 to acquire Ancestry.com and rejected …

  • An airbag logo is seen on a steering wheel of Honda Motor Co's all-new hybrid sedan "Grace", which installed the airbag made by Takata Corp, during its unveiling event in Tokyo

    Honda Motor Co <7267.T> on Friday said it has confirmed that a Takata Corp (7312.T) air bag inflator ruptured in a Jan. 18 crash in Texas that killed the driver. Prior to this incident, Takata air bags had been linked to at least five deaths. On Thursday, Honda issued a statement about the fatal crash involving a 2002 …

  • An AT&T Logo is pictured on the side of a building in Pasadena

    WASHINGTON/SAN FRANCISCO (Reuters) - AT&T Inc (T.N) spent close to half the total in the record-setting U.S. sale of airwaves for mobile data, with Dish Network Corp (DISH.O) spending heavily to manage a surprise win at No.2 ahead of Verizon, results showed on Friday. AT&T bid a total of $18.2 billion to win licenses of …

  • "The consequences of not signing it would be worse," Mayor Eric Papenfuse said, noting that leasing the Verizon Tower in Strawberry Square to the state will lead to an influx of as many as 900 employees and the parking revenue they can generate. Rent from the 12-story building downtown will also help service debt payments …

  • GFI Group Inc shareholders on Friday voted down a proposed takeover by CME Group Inc, the companies said, opening the door for a hostile bid from rival BGC Partners. CME Group, the world's largest futures ...

  • A court in Brazil's São Paulo state seized on Friday 8.9 percent of the shares that construction group OAS SA has in infrastructure company Investimentos e Participações em Infraestrutura SA, alleging that the debt-ridden group is in imminent risk of insolvency. Judge Roberto Corcioli Filho of the state of São Paulo …

  • A Brazilian state court on Friday seized an 8.9 percent stake in Investimentos e Participações em Infraestrutura SA owned by construction group OAS SA, alleging the debt-ridden builder is in imminent risk of insolvency. Judge Roberto Corcioli Filho of the Justice Court of São Paulo state said in a telephone interview …

  • VANCOUVER/TORONTO, Jan 30 (Reuters) - A massive spill from a dam containing mine waste in British Columbia last year was caused by a flawed design for the embankment, which did not account for the presence of a glacial lake deposit at the foundation, an independent panel said on Friday. The probe found that the breach …

  • The U.S. regulator of Fannie Mae and Freddie Mac on Friday proposed new eligibility rules for nonbanks selling and servicing mortgages backed by the government-controlled mortgage agencies. These nonbank mortgage firms will be required to have a minimum net worth of $2.5 million plus a quarter percentage point of …

  • The U.S. Food and Drug Administration on Friday approved Shire Plc's stimulant Vyvanse to treat binge-eating disorder, the first product to be approved for the condition. Vyvanse, which is currently approved to treat attention deficit hyperactivity disorder, generated sales of more than $1 billion in the first nine …

  • Affordable feed and record-high spikes in cattle prices in 2014 encouraged ranchers to increase their herds at a faster pace than previously expected during the past year, analysts said in response to a government yearly cattle report on Friday. The U.S. Department of Agriculture's annual cattle inventory report showed …

  • Traders work on the floor of the New York Stock Exchange

    Oil prices rallied on Friday following the sharpest weekly drop in U.S. oil rig count in nearly 30 years, while the dollar index ended January with its longest run of gains since the greenback was floated in 1971. U.S. stocks finished the day down more than 1 percent as data showed U.S. economic growth slowed sharply in …

  • The former chief executive of Sentinel Management Group Inc in suburban Chicago was sentenced on Friday to 14 years in prison, after being convicted of running what federal prosecutors called a $666 million fraud. Eric Bloom, 49, was sentenced by U.S. District Judge Ronald Guzmán in Chicago, according to U.S. Attorney …

  • Shake Shack founder Danny Meyer and CEO Randy Garutti ring the opening bell at the New York Stock Exchange to celebrate their company's IPO

    Shake Shack's debut is the latest in a string of blockbuster IPOs from trendy restaurant chains that cater to younger and more affluent diners willing to pay a bit more for fresher and higher quality food. Growth-hungry investors are hoping to replicate the red-hot run of industry darling Chipotle Mexican Grill (CMG.N). …

  • A Wall Street sign is pictured in front of the New York Stock Exchange, open during Winter Storm Juno, in the Manhattan borough of New York

    This came after Greece's finance minister said the government would not cooperate with the European Union and International Monetary Fund mission. The Dow Jones industrial average .DJI fell 251.9 points, or 1.45 percent, to 17,164.95, the S&P 500 .SPX lost 26.26 points, or 1.3 percent, to 1,994.99 and the Nasdaq Composite …

  • The United Auto Workers union and Navistar International Corp have reached a tentative four-year contract agreement, the union said on Friday. Workers at Navistar, a vehicle and engine manufacturer, will ...

  • U.S. economic growth slowed sharply in the fourth quarter as weak business spending and a wider trade deficit offset the fastest pace of consumer spending since 2006. This came after Greece's finance minister said the government would not cooperate with the European Union and International Monetary Fund mission. The …

  • Roberto Barbuti, who was the co-head of investment banking at Bank of America Merrill Lynch's Brazilian unit until October last year, left the firm last week to pursue other interests. Barbuti's departure occurred three months after Bank of America Merrill Lynch decided to appoint Hans Lin as the sole head of investment …

  • U.S. Treasury debt prices jumped on Friday, with long-term yields hitting record lows after slower-than-anticipated economic growth fueled speculation that the Federal Reserve will delay interest rate hikes. Friday's gains added to a 2015 rally that put the 30-year Treasury on track for total returns in January of …

  • Brazilian miner Vale SA proposed on Friday to pay dividends of $2 billion this year, less than half the $4.2 billion it distributed in 2014, amid falling prices of iron ore and other base metals. The company ...

  • The United Auto Workers union and Navistar Internaitonal Corp have reached a tentative four-year contract agreement, the union said on Friday. Navistar workers will now vote on whether to accept the terms ...

  • A pumpjack brings oil to the surface in the Monterey Shale

    Oil prices roared back from six-year lows on Friday, rocketing more than 8 percent as a record weekly decline in U.S. oil drilling fueled a frenzy of short-covering. In a rally that may spur speculation that a seven-month price collapse has ended, global benchmark Brent crude shot up to more than $53 per barrel, its highest …

  • U.S. Mint American Eagle gold coin sales in January rose from December but were the lowest for that month since 2008, as a rally in prices discouraged collector buying in what is typically a period of peak demand, data showed on Friday. The U.S. Mint sold 81,000 ounces of gold bullion coins this month, down from 91,500 …

  • An illustration picture shows the logo of car-sharing service app Uber on a smartphone next to the picture of an official German taxi sign

    Ride service Uber, which is trying to enhance its image after several controversies, on Friday released the findings of a report on its handling of passenger data and said it would act on all the report's recommendations for improvements. Lawyers at Hogan Lovells, who wrote the report commissioned and paid for by Uber, …

  • Speculators reduced bets in favor of the U.S. dollar in the latest week and propelled net shorts on the euro to their highest level since June 2012, according to data from the Commodity Futures Trading ...

  • A view of the Exxon Mobil refinery in Baytown, Texas

    Exxon Mobil Corp (XOM.N), the world's largest publicly traded oil company, has changed its U.S. employment policies to prohibit discrimination based on sexual orientation and gender identity as now required by federal law. Investors had pressed for the change for years, filing shareholder proposals for Exxon to guarantee …

  • Greece's new leftist government opened talks on its bailout with European partners on Friday by flatly refusing to extend the programme or to cooperate with the international inspectors overseeing it. Prime Minister Alexis Tsipras' government also sacked the heads of the state privatisation agency after halting a series …

  • While the U.S. Federal Reserve is still expected to begin raising interest rates later this year, the contrast with loosening monetary policies elsewhere in the world is becoming even more stark. The U.S. dollar index advanced for a seventh straight month in January, marking the longest streak of monthly gains since …

  • U.S. stocks ended a volatile session sharply lower on Friday, with major indexes ending down for both the week and the month of January as investors worried about weak U.S. growth and whether instability ...

  • Canada's main stock index edged higher on Friday as soaring commodity prices and natural resource stocks helped offset a decline in financial stocks following sluggish U.S. economic data. The Toronto Stock ...

  • LONDON, January 30 Fitch Ratings has affirmed Belgium's Long-term foreign and local currency Issuer Default Ratings at 'AA'. The Outlooks are Negative. The issue ratings on Belgium's unsecured foreign ...

  • LONDON, January 30 Fitch Ratings has downgraded Armenia's Long-term foreign and local currency Issuer Default Ratings to 'B+' from 'BB-'. The Outlook is Stable. The issue ratings on Armenia's senior unsecured ...

  • LONDON, January 30 Fitch Ratings has revised the Outlook on Iceland's Long-term foreign currency and local currency Issuer Default Ratings to Positive from Stable and affirmed the IDRs at 'BBB' and 'BBB+', ...

  • Wall Street expects the media company to report earnings per share of $1.08 on Tuesday, up from $1.03 a year earlier, according to Thomson Reuters I/B/E/S. Hurt by generic competition for its Singulair asthma drug and its Nasonex allergy treatment, Merck & Co is expected to report lower fourth-quarter earnings on Wednesday. …

  • Speculators' net bearish bets on U.S. 10-year Treasury note futures fell for a fourth straight week to their lowest level since late November, according to Commodity Futures Trading Commission data released ...

  • The following financial services industry appointments were announced on Friday. To inform us of other job changes, email moves@thomsonreuters.com. U.S. BANK WEALTH MANAGEMENT The wealth manager, a unit ...

  • Speculators reduced bets in favor of the U.S. dollar in the latest week, and propelled net shorts on the euro to their largest level since June 2012, according to data from the Commodity Futures Trading Commission released on Friday.

  • New anti-terror legislation in Canada would make it a crime to call for attacks on the country and give a much larger role to the government's main spy agency. The bill introduced by the Conservative government on Friday would give the spy agency, the Canadian Security Intelligence Service, the ability to disrupt …

  • The death of the bond market rally has, once again, been exaggerated. The U.S. Treasury market enjoyed a stellar January, with the best one-month performance for long-dated bonds in nearly three years, despite predictions that rates would inevitably move higher.

  • Brazilian construction group OAS SA, struggling with rampant debt and the impact of a corruption probe on a key client, said on Friday that it plans to appeal a court decision seizing some of the shares it owns in infrastructure firm Invepar SA. In a statement to Reuters, OAS said it has yet to be notified of the …

  • U.S. mutual funds that invest in companies they view as socially responsible are posting better returns, spurring advisers to pitch them to their clients. Investors have been pouring money into socially responsible funds, including Vanguard FTSE Social Index Fund Investor Shares and iShares MSCI KLD 400 Social ETF. …

  • Shares of Spark Therapeutics Inc more than doubled in their debut, valuing the gene-therapy company at nearly $1.5 billion and underscoring investor's interest in the field that recently produced a million-dollar drug. The company's shares opened at $45.10 in their debut on Friday, nearly double their IPO price of …

  • U.S. regulators have published a description about forthcoming rules on drones that omits mention of toys, sowing confusion among lawyers and hobbyists who are closely following the development of the ...

  • The 30-year Treasuries yield was poised to decline 50 basis points for the month of January, which would be the steepest one-month fall since a drop of 70 basis points in September 2011, according to Reuters data. It last traded at 2.245 percent, down 8 basis points from late on Thursday. The five-year yield was on …

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