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REFILE UPDATE 1 MUFG and Morgan Stanley Japan JV to post 1 7 bln loss sources
Corrects spelling of Morgan Stanley in headline Losses are mainly due to bond trading sources Japan s regulator to order report on risk management sources JV to raise 363 million in capital from MUFG unit source Add more information and company comments By Taiga Uranaka TOKYO April 20 Reuters ...
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UPDATE 2 Morgan Stanley MUFG JV to book 1 7 bln loss hit by bad market bet
JV did not have sufficient detailed supervision of losses exec Trades were made by Mitsubishi UFJ traders To raise 30 bln yen through capital injection Recasts adds details and quotes By Taiga Uranaka and Emi Emoto TOKYO April 21 Reuters A Morgan Stanley securities joint venture in Japan with Mit...
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FTSE pushes higher as banks commodity stocks rise
FTSE 100 index gains 0 2 percent in moderate volumes Banks up led by Barclays ahead of results Vodafone weak on read across from Dutch peer KPN s results LONDON April 21 Reuters Strength in banks and commodity stocks lifted Britain s top share index on Thursday consolidating a recent rally ahead of th...
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JPMorgan beats Madoff customers appeal
By Jonathan Stempel NEW YORK Reuters JPMorgan Chase Co N JPM is not liable to a group of former customers of Bernard Madoff who blamed the bank for being actively involved in his Ponzi scheme and ignoring red flags of fraud a federal appeals court ruled on Wednesday The 2nd U S Circuit Court of Appeals in Ma...
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China money market fund becomes world s largest
A Chinese money market fund set up as a repository for leftover cash from online spending has emerged as the world s biggest with 165 6B under management Alibaba s NYSE BABA four year old Yu e Bao fund which means leftover treasure has overtaken JPMorgan NYSE JPM s U S Government Money Market Fund MUTF MJ...
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Trump tax cut caution ECB meeting cools risk rally
By Marc Jones LONDON Reuters A record setting rally in world stocks ran out of steam on Thursday with unconvincing U S tax cut plans cooling investors spirits and caution setting in as the European Central Bank met Europe s main bourses were as much as 0 7 percent lower as traders pulled back after six days of...
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Citigroup CFO expects 5 percent decline in third quarter markets revenue
NEW YORK Reuters Citigroup Inc N C expects its third quarter markets revenue to fall by about 5 percent from a year earlier Chief Financial Officer John Gerspach said on Wednesday The decline largely stems from a strong comparable performance in September 2014 in its interest rates and currency business Gers...
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Hedge fund manager says he didn t trade on hacked press releases
By Karen Freifeld NEW YORK Reuters A hedge fund manager in Moscow claims he never possessed or traded on inside information from an alleged scheme to hack into networks that distribute corporate news releases according to a court filing late Wednesday David Amaryan 35 was among more than 30 defendants charged b...
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GLOBAL MARKETS U S bonds dollar gain on deficit cutting plan
Wall Street struggles drags on global stock markets Yen slips as Japan downgrades economic outlook Oil rebounds from recent losses gold rises Recasts lead updates market action By Richard Leong NEW YORK April 13 Reuters U S bonds and the dollar rose on Wednesday on hopes that President Barack Obam...
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GLOBAL MARKETS Deficit cutting plan boosts U S bonds dollar
White House budget scheme stokes bond dollar bets Wall Street stages late bounce JP Morgan weighs Oil rebounds on big gasoline stock decline gold rises Yen slips as Japan downgrades economic outlook Updates markets with closing Wall Street levels By Richard Leong NEW YORK April 13 Reuters U S b...
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UPDATE 10 Glencore seeks up to 12 1 bln in IPO names chair
Glencore aims to raise 9 11 bln plus 10 percent greenshoe Base to raise up to 8 8 bln in London 2 2 bln in HK Price range set May 4 conditional share trading May 19 Appoints legionnaire Murray as chairman Adds Murray interview Standard Life By Elzio Barreto and Clara Ferreira Marques HONG KONG...
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WRAPUP 1 Singapore tightens policy as GDP shows Asia remains robust
S pore Q1 GDP grew 8 5 pct y y vs consensus of 6 pct Better than forecast Q1 GDP follows strong China trade Singapore tightens monetary policy ups inflation view Singapore dollar jumps to fresh record high Recasts to lead with GDP By Kevin Lim SINGAPORE April 14 Reuters Singapore tightened mon...
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Australia s OM Holdings faces opposition to Hong Kong listing
MELBOURNE April 14 Reuters Manganese producer and trader OM Holdings has run into opposition to a planned dual listing on the Hong Kong stock exchange from its top shareholder Ukrainian billionaire Gennady Bogolyubov s Consolidated Minerals Consolidated Minerals which owns 11 4 percent of OM Holdings said it...
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Macron must win big now to have a chance of fulfilling pledges
By Michel Rose PARIS Reuters Emmanuel Macron s camp should perhaps keep the champagne on ice a little longer The young independent centrist s qualification on Sunday for the runoff of France s presidential election in two weeks time will certainly bring a sigh of relief in European capitals and financial markets...
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Citi sells Hungary consumer banking business to Erste Group
Reuters Citigroup Inc N C agreed to sell its consumer banking business in Hungary to Austria s Erste Group Bank AG VI ERST as the third biggest U S bank by assets continues to divest non core operating businesses The sale includes Citi s retail banking consumer loans and cards businesses and the transfer ...
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Tesco sells South Korean arm to private equity group for 6 1 billion
By James Davey and Joyce Lee LONDON SEOUL Reuters Tesco LONDON TSCO is selling its South Korean arm to a group led by private equity firm MBK Partners for 6 1 billion it said on Monday as the British supermarket retreats from foreign markets to focus on reviving its troubled domestic business The sale of Ho...
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Citi shared central bank info with clients ex trader
By Jamie McGeever LONDON Reuters Citigroup NYSE C sent details of its central bank customers trading activity to another client and handed out details of its foreign exchange order book to customers in electronic chatrooms a former foreign exchange trader said in a witness statement to a London court on Thurs...
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Ex Citi trader points finger at bosses for culture that allowed breaches
By Steve Slater LONDON Reuters A former foreign exchange trader claiming he was unfairly dismissed by Citigroup N C said the sharing of client information looks wrong now it has come under scrutiny from regulators but was condoned by senior management at the time Perry Stimpson a forex trader at the banking ...
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When It Rains It Pours Mnuchin Mania
The US Dollar bids were far and few between thanks to Treasury Secretary Mnuchin s outward endorsement for weak USD policy While we already knew the administration previously favored a weaker dollar his comments caught the dollar prone and defenseless opening floodgates to a massive wave of dollar selling His comme...
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European stocks rise ahead of ECB rate decision DAX up 0 1
Investing com European stock markets advanced on Thursday led higher by financials after Portugal announced it would seek a bailout and ahead of an expected euro zone interest rate hike while U S futures indexes pointed to a higher open on Wall Street During European morning trade the EURO STOXX 50 climbed 0 25 ...
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German gambling proposals delay Perform s UK debut
Sports media firm delays London market debut to Friday Short medium term contract revenues unaffected source Aims to raise around 200 million pounds By Kylie MacLellan LONDON April 7 Reuters Digital sports media firm Perform Group delayed its London market debut on Thursday after Germany proposed chan...
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SNAP ANALYSIS ECB signals determined to act on inflation
Inflation risks on upside averting spiral is priority Tone on inflation a little calmer than remarks in March Deposit rate rise shows ECB wants to control market rates Trichet appears relaxed about euro strength exports No word on how when unlimited loans to be phased out By Sakari Suoninen FRANKFU...
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ANALYSIS Indian pharma in tough battle for generic riches
100 bln worth of drugs coming off patent in next 2 yrs Indian companies face competition lawsuits stricter regulator Mylan lawsuit over Lipitor a sign of more to come Indian firms violations of manufacturing rules could crimp FDA approvals Indian pharma index down 9 pct this year By Bharghavi Nagara...
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PREVIEW Price rises and cost cuts help European food firms
European food groups look to pricing for growth Pricing cost cuts to offset high input costs Three big European food groups to report Q1 results Danone April 14 Nestle April 15 Unilever April 28 By Dominique Vidalon and Silke Koltrowitz PARIS ZURICH April 12 Reuters Price rises pushed through ...
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European stocks rise as Alcatel Lucent jumps DAX up 0 6
Investing com European stock markets advanced on Wednesday rebounding from the previous session s broad sell off as shares in Alcatel Lucent surged after a broker upgrade while U S futures indexes pointed to a higher open on Wall Street During European morning trade the EURO STOXX 50 climbed 0 35 France s CAC ...
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Investors see bias as Russian statistics agency revises figures
By Andrey Ostroukh and Alexander Winning MOSCOW Reuters Surprisingly optimistic figures from Russia s statistics agency have alarmed some investors who say data on the Russian economy appears to have become less accurate and more biased toward good news during the country s long recession Some say the problem cou...
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Citigroup to return 4 5 million more in fee overcharges
By Karen Freifeld NEW YORK Reuters Citigroup Global Markets Inc CGMI a unit of Citigroup Inc NYSE C has agreed with the New York attorney general to return 4 5 million in account management fees charged on some 15 000 frozen accounts As a result of the agreement a total of more than 20 million will be r...
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Citi Sells Hedge Fund and Private Equity Business for 425 Million
By Avi Mizrahi Citigroup NYSE C today announced that it has reached a definitive agreement to sell its Alternative Investor Services business which comprises Hedge Fund Services and Private Equity Fund Services to SS C Technologies Holdings Inc for 425 million Citi says that this transaction is a positive ou...
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Citigroup to pay 15 million to settle U S compliance charges
By Sarah N Lynch WASHINGTON Reuters A unit of Citigroup Inc N C will pay 15 million to settle civil charges alleging it failed to enforce policies designed to prevent and detect insider trading U S regulators said Wednesday s settlement with the Securities and Exchange Commission marks the second time this...
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Weekly Energy
OPEC members were unable to reach an agreement on output quotas at their meeting on October 28 29 Oil prices declined by 2 USD barrel over the past week Among the news items that caught our attention Last Wednesday crude oil inventory data from the U S Energy Information Administration surprised markets showing...
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4 Strong Buy Invesco Mutual Funds For Your Portfolio
With more than 770 billion of assets under management Invesco Ltd offers financial solutions through a diverse set of investment vehicles across major equity fixed income and alternative asset classes This leading global investment management company caters to a wide range of mutual funds including both equity and ...
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7 Inverse Leveraged ETFs To Buy As Markets Make Way For Trump
After a close contest Republican Donald Trump shockingly won the race to the White House And as he readies himself as the 45th President of the United States the markets will try to adjust to his ways read The majority of Wall Street analysts believe that the S P 500 will see a big sell off on Trump s victory M...
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Why Is Citigroup C Up 8 99 Since The Last Earnings Report
It has been about a month since the last earnings report for Citigroup Inc NYSE C Shares have added about 8 99 in the past month Will the recent positive trend continue leading up to their next earnings release or is the stock due for a pullback Before we dive into how investors and analysts have reacted as of...
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Why Marathon Petroleum MPC Stock Might Be A Great Pick
One stock that might be an intriguing choice for investors right now is Marathon Petroleum Corporation NYSE MPC This is because this security in the Oil and Gas Refining and Marketing space is seeing solid earnings estimate revision activity and is in great company from a Zacks Industry Rank perspective This is ...
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New Strong Buy Stocks For January 16th
Here are 5 stocks added to the Zacks Rank 1 Strong Buy List for Tuesday Hudbay Minerals Inc HBM This integrated mining company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4 2 over the last 30 days HudBay Minerals Inc Price and Consensus Lions Gate Entertainment Corpor...
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US STOCKS Wall St ends a strong quarter optimistic on payrolls
S P gains 5 4 percent in first quarter Volume tops weekly average but remains light Berkshire class B shares fall after Sokol s resignation Dow off 0 25 pct S P down 0 18 pct Nasdaq up 0 15 pct For up to the minute market news see STXNEWS US Updates to close changes byline By Rodrigo Campos NEW ...
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Nikkei eases after hitting 2 wk high but helped by yen oil
Nikkei meets resistance near 200 day MA after 2 week high Weaker yen higher commodities prices help Nikkei Market awaits U S payrolls data By Chikafumi Hodo and Antoni Slodkowski TOKYO April 1 Reuters Japan s Nikkei average fell slightly on Friday running out of steam after advancing to a two week h...
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Nikkei marks new year with 2 wk high U S jobs eyed
Nikkei flirts with 200 day MA after 2 week high backs off Weaker yen higher commodities prices bolster Nikkei Property shares jump on Goldman Sachs upgrades Market awaits U S payrolls data By Chikafumi Hodo and Antoni Slodkowski TOKYO April 1 Reuters Japan s Nikkei average began a new financial y...
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UPDATE 1 Mitsubishi UFJ unit likely to post 600 mln net loss Nikkei
Unit hit by losses in bond business Recasts adds detail TOKYO April 1 Reuters A brokerage unit of Mitsubishi UFJ Financial Group is likely to post a net loss of 50 billion yen 600 million for the year ended in March dragged down by losses in its bond business the Nikkei daily reported on its website ...
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European shares edge up boosted by MA
FTSEurofirst 300 up 0 2 percent Rhodia jumps 48 percent after Solvay bid Time to buy volatility derivatives Nomura says By Brian Gorman LONDON April 4 Reuters European shares edged up to a three week high on Monday with telecoms heavyweight Vodafone rising after a major disposal though strategists s...
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UPDATE 3 Pfizer selling Capsugel to KKR for 2 38 bln
Pfizer sees more share buybacks as result of deal Drugmaker said in October it was exploring sale Pfizer shares rise 1 1 pct in premarket trading Adds analyst comment details on KKR financing byline By Lewis Krauskopf NEW YORK April 4 Reuters Pfizer Inc said it struck a deal to sell its Capsugel uni...
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European stocks tick higher chemical shares support
FTSEurofirst 300 up 0 04 percent to 3 week closing high Merger news global economic outlook support market Rhodia shares up 48 percent after Solvay launches bid By Atul Prakash LONDON April 4 Reuters European equities edged up to a three week closing high on Monday supported by merger news with Rhodia ...
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Nikkei eases as rebound loses steam TEPCO hits record low
Tokyo Electric falls to all time low Post quake rebound has run its course analyst Chipmakers lower in line with U S peers By Chikafumi Hodo and Antoni Slodkowski TOKYO April 5 Reuters Japan s Nikkei average slipped on Tuesday with the mood soured by Tokyo Electric Power s fall to an all time low b...
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Wells Fargo s profit flat as costs mortgages weigh
By Nikhil Subba and Dan Freed Reuters Wells Fargo NYSE WFC Co posted flat quarterly earnings on Thursday and warned its costs would remain elevated as the fallout from a sales practices scandal continues to impact the third largest U S bank Higher personnel costs and legal fees as well as lower mortgage ban...
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Top BlackRock portfolio manager turning to safe haven assets
By Trevor Hunnicutt NEW YORK Reuters One of the portfolio managers behind BlackRock Inc s largest mutual fund says his team has been buying safe haven assets such as gold and Treasuries to protect from known unknowns in global politics There is a little political risk creeping back into investors awareness and...
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U S business inventories increase but retail stocks revised lower
WASHINGTON Reuters U S business inventories increased in February but retail stocks excluding motor vehicles were unchanged for a second straight month suggesting that inventory investment could weigh on first quarter economic growth The Commerce Department said on Friday business inventories rose 0 3 percent ...
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Crude futures continue extended slide in spite of U S supply draw
Investing com Crude futures pared earlier gains on Wednesday reversing territory in U S afternoon trading amid an expected draw in U S stockpiles last week along with continuing gains in Saudi Arabian supply On the New York Mercantile Exchange WTI crude for September delivery wavered between 44 85 and 46 69 o...
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NYMEX crude stages early rebound in Asia with focus on oversupply
Investing com Crude oil staged a mild rebound in early Asia on Thursday with investors focused on continued market oversupply On the New York Mercantile Exchange WTI crude for September delivery rose 0 20 to 45 19 a barrel Earlier this week Texas Long Sweet futures plunged 4 in Monday s session to around 45 a...
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Exclusive Noble Group mulls raising funds from strategic investor source
By Anshuman Daga SINGAPORE Reuters Noble Group SI NOBG is considering issuing a convertible note to a strategic investor one of several steps the commodities trader is assessing to revive investor confidence after a damaging accounting dispute a person with direct knowledge of the situation told Reuters The so...
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USD Spiked To The Descending Wedge Trendline USB Retests The Trendline
CBOE Volatility Index closed above its Long term support resistance at 16 15 confirming its buy signal The next important milestones are the trendline at 22 50 and Cycle Top resistance at 24 15 where a long term breakout of the Bullish Flag may occur and the Cyclical uptrend may resume in earnest ZeroHedge While VI...
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Is Marathon Petroleum MPC A Strong Value Stock
While growth investing is always a popular strategy you should not discount the benefits that come with focusing on value metrics Value investing allows investors to discover stocks with low price to earnings ratios solid outlooks and decent dividends Today we have identified a good candidate that offers impressi...
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Oil Gas Stock Roundup Keystone XL s Approval BP s Buyback More
It was a week where both oil and gas prices lost ground On the news front sponsor TransCanada TO TRP won approval to build its controversial Keystone XL Pipeline through the state of Nebraska while BP LON BP Plc NYSE BP became the first European oil major to resume share repurchase since the 2014 oil slump...
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DOJ To Penalize Activists For Damaging Energy Infrastructure
The U S Department of Justice DOJ recently vowed to take legal action against protesters and activists who damage oil pipelines and other energy infrastructure The verdict came in response to the letter sent by more than 80 U S representatives inquiring whether the activists who damaged energy infrastructure in ...
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Should Value Investors Pick Marathon Petroleum MPC Stock
Value investing is easily one of the most popular ways to find great stocks in any market environment After all who wouldn t want to find stocks that are either flying under the radar and are compelling buys or offer up tantalizing discounts when compared to fair value One way to find these companies is by looking a...
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Banks miners push FTSE up for 6th session
FTSE 100 up 0 6 percent longest winning streak since August Miners banks positive Retailers hit by Dixons results By Simon Falush LONDON March 30 Reuters Banks and miners pushed Britain s FTSE 100 higher on Wednesday with investors focussing on an improving outlook for company earnings and with tech...
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European stocks broadly higher on automakers DAX rallies 1 5
Investing com European stock markets were broadly higher on Wednesday as automakers led gains amid hopes the global economic recovery was gathering pace while U S futures indexes pointed to a higher open on Wall Street During European morning trade the EURO STOXX 50 gained 0 65 France s CAC 40 climbed 0 8 wh...
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Corporate optimism lifts FTSE up for sixth session
FTSE 100 up 0 5 percent Set for longest winning streak since August Miners banks positive Retailers hit by Dixons results By Simon Falush LONDON March 30 Reuters Banks and miners pushed Britain s FTSE 100 higher on Wednesday with investors focusing on an improving outlook for company earnings and ...
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Miners lead Europe shares higher ahead of US data
FTSEurofirst 300 index gains 0 9 percent Miners gain Vedanta up on bullish broker note Dixons slumps after profit warning For up to the minute market news click on By Brian Gorman LONDON March 30 Reuters European shares extended recent gains on Wednesday led by miners with equity strategists lo...
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Industrials power FTSE to best streak in 7 months
FTSE up 0 3 pct sixth day of gains best run since August Miners industrials higher as investors buy into growth Retailers fall on gloomy outlook Dixons sounds alarm By David Brett LONDON March 30 Reuters The FTSE 100 closed higher for a sixth consecutive session on Wednesday its best run since Augu...
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Economy optimism lift European shares to 3 wk high
FTSEurofirst 300 index up 0 8 pct at 3 wk closing high ADP report reinforces confidence ahead of nonfarm payrolls Miners gain Vedanta up on bullish broker note By Harpreet Bhal LONDON March 30 Reuters European shares hit a three week closing high on Wednesday after a U S labour report revived confide...
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US STOCKS Wall St flat toward quarter end payrolls eyed
Jobless claims fall views upbeat for Friday s payrolls Volume likely to be low on quarter s last day Berkshire Class B shares fall after Sokol s resignation Dow up 0 04 pct S P up 0 01 pct Nasdaq off 0 04 pct Updates to midday changes byline By Chuck Mikolajczak NEW YORK March 31 Reuters U S s...
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US STOCKS Wall St flat as Friday payrolls data eyed
Jobless claims fall views upbeat for Friday s payrolls Volume likely to be low on quarter s last day Berkshire Class B shares fall after Sokol s resignation Dow up 0 03 pct S P up 0 1 pct Nasdaq up 0 1 pct Updates to afternoon By Chuck Mikolajczak NEW YORK March 31 Reuters U S stocks edged high...
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JPMorgan Q1 earnings beat forecasts
Investing com NYSE JPMorgan s first quarter earnings beat estimates The U S bank reported a rise in Q1 EPS of 1 65 vs estimate of 1 51 and 1 35 a year earlier Revenues came in at 25 59 bn vs estimate of 24 75 bn JPMorgan shares were 0 91 at 86 18 in pre market trade
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France s Faurecia explores sale of bumpers business Bloomberg
Reuters France s Faurecia SA PA EPED is set to explore a sale of its bumpers business which may be worth about 450 million Bloomberg reported on Monday citing sources The car parts maker is in talks with private equity firms and automotive suppliers to measure interest Bloomberg said The company majori...
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U S consumer electronics firm Vizio files for IPO
Reuters Consumer electronics company Vizio Inc filed with U S regulators on Friday to raise up to 172 5 million in an initial public offering of Class A common stock BofA Merrill Lynch Deutsche Bank XETRA DBKGn Securities and Citigroup NYSE C are among the underwriters of the IPO Vizio told the U S Sec...
MPC
Is Marathon Petroleum MPC Stock A Solid Choice Right Now
One stock that might be an intriguing choice for investors right now is Marathon Petroleum Corporation NYSE MPC This is because this security in the Oil and Gas Refining and Marketing space is seeing solid earnings estimate revision activity and is in great company from a Zacks Industry Rank perspective This is...
MPC
Marathon MPC To Test Shipper Interest On Reversed Capline
Leading independent refiner Marathon Petroleum Corporation NYSE MPC announced the commencement of the non binding open season for the Capline Pipeline It is to be noted that Marathon Pipe Line LLC is the operator of the pipeline having capacity to carry crude at a rate of 1 2 million barrel a day Notably Maratho...
MPC
Marathon Petroleum MPC Q3 Earnings Revenue Beat Estimate
Have you been eager to see how Marathon Petroleum NYSE MPC a leading downstream operator performed in Q3 in comparison with the market expectations Let s quickly scan through the key facts from this Findlay OH based company s earnings release this morning About Marathon Petroleum Marathon Petroleum is a lead...
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European stocks mixed on Chinese data DAX down 0 11
Investing com European stock markets were mixed on Thursday following the release of Chinese data that prompted speculation the country would further tighten monetary policy while U S futures indexes pointed to a lower open on Wall Street During European morning trade the EURO STOXX 50 climbed 0 38 France s CA...
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Europe stocks mixed ahead of ECB rate decision DAX up 0 12
Investing com European stock markets were mixed on Thursday ahead of a European Central Bank policy board meeting while U S futures indexes pointed to a mixed open on Wall Street During European morning trade the EURO STOXX 50 shed 0 34 France s CAC 40 dropped 0 91 while Germany s DAX added 0 12 Shares in t...
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Range bound FTSE climbs Europe gloom hits banks
FTSE up 0 5 percent remains below 50 day moving average Wolseley boosted by results growth prospects Banks wane as S P cuts ratings on Greece Portugal By David Brett LONDON March 29 Reuters The FTSE 100 rose moderately in light trade on Tuesday with support from miners and upbeat results from Wolsel...
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UPDATE 7 Tokyo Electric says 24 bln loans not enough chief in hospital
2 trln yen loan not enough to meet costs TEPCO chairman CEO Shimizu suffering from high blood pressure dizziness Tokyo Electric shares sink further 18 pct on nationalisation prospects Bank insurer shares also hit by concerns about TEPCO future Three year CDS spreads jump to record bonds steady IFR ...
JPM
European regulators offer Brexit sweeteners to investment banks
By Huw Jones Rachel Armstrong and Jes s Aguado LONDON MADRID Reuters A gap in EU financial rules is allowing member countries to compete to host the trading operations of London based investment banks after Brexit by offering looser regulatory standards The European Central Bank is the euro zone s banking superv...
JPM
Barclays reprimands chief executive for trying to identify whistleblower
By Lawrence White and Carolyn Cohn LONDON Reuters British bank Barclays L BARC has reprimanded Chief Executive Jes Staley and will cut his bonus heavily after he tried to uncover the identity of an internal company whistleblower in a case being investigated on both sides of the Atlantic In a statement on Monda...
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Citi ordered to pay Mercuria 14 million in China metals financing suit report
NEW YORK Reuters Citigroup Inc N C has been ordered to pay Swiss based commodities merchant Mercuria almost 14 million as part of prolonged legal wrangling over Chinese metals financing deals hit by suspected fraud a report on Wednesday said Justice Stephen Phillips of London s High Court ordered Citi to pay...
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Citigroup shares rise 2 4 on upbeat Q2 earnings
Investing com Banking conglomerate Citigroup NYSE C reported better than expected second quarter earnings on Thursday sending its shares higher in pre market trade Citigroup said adjusted earnings per share came in at 1 45 in the three months ended June 30 above expectations for earnings of 1 34 per share an...
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Citi posts highest profit since financial crisis shares rise
By Neha Dimri and David Henry Reuters Citigroup Inc NYSE C the third biggest U S bank by assets reported its highest quarterly profit since the financial crisis as Chief Executive Michael Corbat s restructuring and cost cutting efforts paid off and the bank s legal expenses plunged Under Corbat who replace...
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U S jobless claims housing data point to firming economy
By Lucia Mutikani WASHINGTON Reuters The number of Americans filing new applications for unemployment benefits fell more than expected last week and confidence among homebuilders held at a more than 9 1 2 year high in July indicating underlying momentum in the economy The solid labor market and firming housing se...
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MLPX s Binding Open Season For Pipeline Expansion Successful
Energy pipeline partnership MPLX LP NYSE MPLX a subsidiary of Marathon Petroleum Corporation NYSE MPC recently finished a binding open season for the Wood River to Patoka pipeline expansion Per MPLX the open season was successfully conducted by its unit Marathon Pipe Line LLC The open season lasted for th...
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Surging Earnings Estimates Signal Good News For Marathon Petroleum MPC
Marathon Petroleum Corporation NYSE MPC is engaged in refining transporting and marketing of petroleum products that could be an interesting play for investors That is because not only does the stock have decent short term momentum but it is seeing solid activity on the earnings estimate revision front as well...
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Surging Earnings Estimates Signal Good News For Jones Energy JONE
Jones Energy Inc NYSE JONE that is a renowned oil and gas company could be an interesting play for investors That is because not only does the stock have decent short term momentum but it is seeing solid activity on the earnings estimate revision front as well These positive earnings estimate revisions suggest...
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Asia stocks mixed as euro zone worries weigh Nikkei up 0 01
Investing com Asian stocks were mostly lower on Thursday as ongoing concerns over the euro zone s debt crisis weighed on market sentiment while shares in Japanese banks advanced after the nation s banking industry received a broker upgrade During late Asian trade Hong Kong s Hang Seng Index tumbled 1 26 South ...
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European stocks rise ahead of EcoFin meeting DAX up 0 75
Investing com European stock markets were broadly higher on Tuesday ahead of a meeting of euro zone finance ministers in Brussels while U S futures indexes pointed to a higher open on Wall Street During European morning trade the EURO STOXX 50 jumped 0 94 France s CAC 40 advanced 0 68 while Germany s DAX was ...
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U S stocks mixed as Apple Citigroup tumble Dow Jones up 0 12
Investing com U S stocks were mixed after the open on Tuesday as market sentiment was weighed by disappointing corporate earnings results and as Apple dragged down shares in the technology sector During early U S trade the Dow Jones Industrial Average climbed 0 12 the S P 500 index was down 0 20 while the Na...
JPM
U S wholesale inventories rebound in February
WASHINGTON Reuters U S wholesale inventories increased as previously estimated in February but the pace of inventory accumulation appears to have slowed relative to the fourth quarter The Commerce Department said on Friday wholesale inventories rose 0 4 percent after falling 0 2 percent in January The departme...
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Citigroup s FX deals might have made only 1 million but cost 2 5 billion
NEW YORK Reuters Employee misconduct in foreign exchange trading that cost Citigroup Inc NYSE C 2 5 billion in fines and penalties might have made only 1 million for the bank an executive said on Wednesday Speaking at an investor conference James Forese president of Citigroup and head of its investment ba...
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Exclusive Citigroup to shift European retail banking base to Dublin
By Tom Bergin and Simon Robinson LONDON Reuters Citigroup N C is planning to shift the head office of its European retail banking operation to Dublin from London to benefit from lower costs and capital requirements This week the bank wrote to clients to say the UK based business Citibank International Limited...
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JPMorgan builds up apartment loan leader from WaMu rubble
By David Henry NEW YORK Reuters In September 2008 JPMorgan Chase Co NYSE JPM executives sifted through the rubble of Washington Mutual the failed home loan bank that they had just won in a U S government auction They found something unexpectedly good about 30 billion of mortgages on apartment buildings w...
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Citibank seeks go ahead to boost Vietnam presence
HANOI Reuters Citibank NA a unit of Citigroup Inc N C said it will get the go ahead soon from Vietnam s central bank to set up a subsidiary in the country which would make it the seventh wholly foreign owned lender to operate in Vietnam The U S lender said the State Bank of Vietnam SBV governor would gra...
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Citi C Beats On Q3 Earnings Estimates Revenues Down
Have you been eager to see how Citigroup Inc NYSE C performed in Q3 in comparison with the market expectations Let s quickly scan through the key facts from this New York based money center bank s earnings release this morning An Earnings BeatCitigroup came out with earnings from continuing operations per share o...
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Marathon Petroleum MPC Q2 Earnings Revenue Miss Estimate
Have you been eager to see how Marathon Petroleum NYSE MPC a leading downstream operator performed in Q2 in comparison with the market expectations Let s quickly scan through the key facts from this Findlay OH based company s earnings release this morning About Marathon Petroleum Marathon Petroleum is a lead...
MPC
The Energy Report Dunkirk In Houston
Dunkirk In Houston Watching the widespread devastations in Houston due to what was Hurricane Harvey has been gut wrenching and now that this storm has regenerated and made a second landfall in Louisiana just west of the town of Cameron its impact on lives and property is just starting to be measured Ordinary citize...
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Marathon Petroleum MPC Vends 1 05 Billion Assets To MPLX
Oil refining and marketing giant Marathon Petroleum Corporation NYSE MPC recently divested some of its pipelines and storage assets to MPLX LP NYSE MPLX The move helped Marathon Petroleum to garner proceeds of 1 05 billion from its master limited partnership which it had spun off in 2012 Marathon Petroleum h...
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Europe stocks advance on banks miners DAX rises 0 89
Investing com European stocks recorded sharp gains on Wednesday as financials and commodity linked shares led markets higher meanwhile U S futures indexes pointed to a higher open on Wall Street ahead of the release of key data on ADP non farm payrolls During European morning trade the EURO STOXX 50 was up 0 90 ...
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Europe stocks surge to record sharp gains DAX soars 2 08
Investing com European stocks ended higher on Wednesday with markets surging to record sharp gains as financial sector stocks and commodity linked shares led gains At the close of European trade the EURO STOXX 50 jumped 2 39 France s CAC 40 climbed 2 03 while Germany s DAX soared 2 08 Financial sector shares ...
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European stocks mixed after the open DAX up 0 08
Investing com European stocks were mixed after the open on Wednesday as earnings reports continued to feature heavily meanwhile U S futures indexes pointed to a higher open on Wall Street During European morning trade the EURO STOXX 50 was down 0 06 France s CAC 40 shed 0 10 while Germany s DAX gained 0 08 ...
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European stocks rally ahead of Irish budget vote DAX up 1 14
Investing com European stocks were sharply higher on Tuesday amid hopes that Ireland s parliament would pass an austerity budget later in the day while U S futures indexes pointed to a higher open on Wall Street During European morning trade the EURO STOXX 50 jumped 1 66 France s CAC 40 soared 1 95 while Ger...
JPM
JPMorgan CEO calls for regulatory changes in shareholder letter
By David Henry and Dan Burns NEW YORK Reuters JPMorgan Chase Co N JPM Chief Executive Jamie Dimon devoted one third of his annual shareholder letter to arguments for changing regulations particularly those on bank capital and liquidity as well as home mortgage loan financing Current regulations are inconsist...
JPM
SEC s foreign corruption unit chief to leave by month s end
By Sarah N Lynch WASHINGTON Reuters Kara Novaco Brockmeyer the attorney at the U S Securities and Exchange Commission who oversees the unit that polices foreign bribery laws plans to depart the SEC later this month the regulator announced Tuesday Brockmeyer a 17 year veteran of the SEC has led the Foreign C...
JPM
JPMorgan softens tone on Brexit jobs warning
LONDON Reuters The head of U S bank JPMorgan Chase N JPM said on Tuesday the bank is not planning to move many jobs out of Britain in the next two years in a softening of tone on the likely impact from Brexit Jamie Dimon had said in a previous speech to employees in Bournemouth last year that as many as 4 000 o...