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Stock index futures signal further gains
PARIS (Reuters) - Stock index futures pointed to a higher open on Wall Street on Friday, after surging to multi-year highs on Thursday after the Federal Reserve announced an aggressive plan to stimulate the economy, encouraging investors to dive back into the market. Futures for the S&P 500 were up 0.21 percent, Dow Jones futures were up 0.22 percent and Nasdaq 100 futures 0.38 percent higher at 0830 GMT. ...
From http://news.yahoo.com/stock-index-futures-signal-further-gains-084947590--finance.html - 9/14/2012 4:49:47 PM
Fed bets big in new push to rescue U.S. economy
WASHINGTON (Reuters) - The Federal Reserve launched another aggressive stimulus program on Thursday, saying it would pump $40 billion into the U.S. economy each month until it saw a sustained upturn in the weak jobs market. The central bank's decision to tie its controversial bond buying directly to economic conditions was an unprecedented step that marked a big escalation in its efforts to drive U.S. unemployment lower. Stock prices jumped, while gold hit a six-month high as investors braced for faster inflation. ...
From http://news.yahoo.com/fed-bets-big-push-rescue-economy-013518894--business.html - 9/14/2012 10:44:05 AM
Spain urged to clarify aid needs at euro zone meeting
NICOSIA (Reuters) - Euro zone finance ministers pressed Spain on Friday to clarify whether it will seek financial support after the announcement of the European Central Bank's new bond-buying program brought Madrid's borrowing costs sharply lower. Spanish Finance Minister Luis de Guindos deflected questions about a possible aid application on arriving for talks in Cyprus, saying they would discuss in general terms the conditions for ECB intervention in the markets. ...
From http://news.yahoo.com/spain-urged-clarify-aid-needs-euro-zone-meeting-081335940--business.html - 9/14/2012 5:59:29 PM
SEC probes some Wall Street trades after 2008 meet with Henry Paulson: WSJ
(Reuters) - The U.S. Securities and Exchange Commission (SEC) is probing possible insider trading activities by Wall Street professionals who were present in a private meeting with the then Treasury Secretary Henry Paulson in 2008, the Wall Street Journal reported, citing people familiar with the investigation. The SEC is trying to find out if Paulson suggested in the meeting that the government was willing to bail out struggling mortgage-finance companies Fannie Mae and Freddie Mac, the WSJ said. (http://r.reuters. ...
From http://news.yahoo.com/sec-probes-wall-st-trades-2008-meet-henry-050749320--sector.html - 9/14/2012 1:48:19 PM
BAE's British roots sprout trusted American faces in U.S. defense landscape
WASHINGTON (Reuters) - Around the United States, Britain's BAE Systems is widely seen as just another powerful U.S. defense contractor, unlike European aerospace group EADS , which is always firmly identified by its French, German and Spanish roots. With nearly 40,000 employees in states like Virginia, Texas, Pennsylvania and New Hampshire; outreach programs at myriad U.S. universities, and its own savvy lobbyists, BAE's British origins seldom merits a mention. ...
From http://news.yahoo.com/baes-british-roots-sprout-trusted-american-faces-u-014644733--finance.html - 9/14/2012 9:46:44 AM
RBS launches forced stock market sale of Direct Line
LONDON (Reuters) - State-backed Royal Bank of Scotland (RBS) is to press ahead with the forced sale of its Direct Line insurance division in what could be the biggest listing on the London Stock Exchange for more than a year. RBS, which is majority-owned by the government after a bailout during the 2008 financial crisis, was told to sell Britain's biggest motor insurer by European Union regulators as a condition for taking state aid. Analysts say that the initial public offering (IPO), announced by RBS on Friday, could value Direct Line at between 2.5 billion pounds ($4 billion) and 3. ...
From http://news.yahoo.com/britains-rbs-press-ahead-direct-line-flotation-063909640--sector.html - 9/14/2012 5:55:33 PM
Striking South African miners reject Lonmin pay offer
MARIKANA, South Africa (Reuters) - Wildcat strikers at Lonmin's Marikana mine rejected a pay offer on Friday, dashing any hope of ending five weeks of industrial action that has swept through South Africa's platinum sector and laid bare the power struggle in the ruling ANC. Workers camped on a rocky outcrop at the mine, where police shot dead 34 protesters last month, dismissed the offer as way below the 12,500 rand ($1,500) they have been demanding. ...
From http://news.yahoo.com/lonmin-pay-offer-well-short-12-500-rand-064910770--finance.html - 9/14/2012 6:17:13 PM
UBS trader gambled away $2.3 billion, court told
LONDON (Reuters) - A British prosecutor accused former UBS trader Kweku Adoboli on Friday of fraudulently gambling away $2.3 billion, believing he had the magic touch but instead causing "chaos and disaster to himself and to all those around him". Adoboli, 32, is on trial at Southwark Crown Court accused of two counts of fraud and two counts of false accounting. He has pleaded not guilty. ...
From http://news.yahoo.com/ubs-trader-gambled-away-2-3-billion-court-100124824--sector.html - 9/14/2012 6:29:23 PM
Home Depot's do-it-yourself model fails in China's do-it-for-me market
(Reuters) - Home Depot Inc , the world's largest home improvement chain, will close all seven of its big box stores and cut 850 jobs in China as the retailer changes its focus in the Chinese market to online and specialty stores and becomes the latest retailer to feel the chill from China's slowing economy. Earlier this week, British fashion house Burberry Group Plc warned a slowdown in China could hit earnings. The profit warning came as recent Chinese data signaled a further slowing of the world's second-largest economy. ...
From http://news.yahoo.com/home-depots-yourself-model-fails-chinas-market-022542002--finance.html - 9/14/2012 1:31:33 PM
Duerr sails past European car market maelstrom
STUTTGART (Reuters) - The crisis among Europe's carmakers has not made a dent in the business outlook for German systems supplier Duerr, whose chief executive is confident revenue will continue to grow next year despite sagging vehicle sales. "Mathematically we have more than a year's worth of revenue in our order books, so we have 2013 locked away," Chief Executive Ralf Dieter told Reuters in an interview. The supplier of equipment for paintshops found in car manufacturing plants, plans to increase its annual turnover by 5-10 percent on average. ...
From http://news.yahoo.com/duerr-sails-past-european-car-market-maelstrom-090246962--sector.html - 9/14/2012 5:02:46 PM
Japan Cabinet panel urges ending use of nuke power
A Japanese Cabinet panel called Friday for phasing out of nuclear power over the next three decades in a major shift for Japan as it overhauls energy policy following the Fukushima meltdowns.
From http://news.yahoo.com/japan-cabinet-panel-urges-ending-nuke-power-081858467--finance.html - 9/14/2012 6:09:40 PM
World stocks jump on Fed pledge for US economy
World stock markets shot higher Friday after the Federal Reserve met investor expectations by giving the green light to big asset purchases to boost the U.S. economy.
From http://news.yahoo.com/world-stocks-jump-fed-pledge-us-economy-091101686--finance.html - 9/14/2012 6:30:09 PM
Euro ministers to discuss giving Greece more time
Greece may be given some more breathing room to meet its bailout commitments but no more money, European finance ministers indicated Friday as they gathered in Cyprus for a top-level meeting.
From http://news.yahoo.com/euro-ministers-discuss-giving-greece-more-time-100202802--finance.html - 9/14/2012 6:04:21 PM
HK worries Fed move will overheat property
The Fed's latest plan to spend billions on securities is being hailed by investors desperate for economic salvation. But in Hong Kong it's causing headaches for policymakers worried about a frothy property market.
From http://news.yahoo.com/hk-worries-fed-move-overheat-property-101644899--finance.html - 9/14/2012 6:17:49 PM
Ex-UBS trader goes on trial accused of $2B fraud
A senior trader at Swiss bank UBS was a "master fraudster" who lost his bank $2.3 billion through risky deals and deceit in a bid to improve his status, bonus and job prospects, prosecutors said Friday.
From http://news.yahoo.com/ex-ubs-trader-goes-trial-accused-2b-fraud-071603955--finance.html - 9/14/2012 6:17:28 PM
Huawei: Australia law could exclude China firms
An official of Chinese telecoms equipment giant Huawei Technologies said Friday he is concerned that new Australian laws to protect communication networks from cyber-attacks could exclude companies from tendering for work simply because they're Chinese.
From http://news.yahoo.com/huawei-australia-law-could-exclude-china-firms-083736813--finance.html - 9/14/2012 4:37:36 PM
Oil above $99 after Fed vows action on economy
Oil prices rose above $99 a barrel Friday in Asia after the U.S. Federal Reserve announced a plan to jolt the U.S. economy and unrest in the Middle East heightened concerns about supply.
From http://news.yahoo.com/oil-above-99-fed-vows-action-economy-053250453.html - 9/14/2012 5:21:42 PM
Lawyers: 'Pink slime' lawsuit an uphill climb
Beef Products Inc. will face a steep climb in its "pink slime" defamation lawsuit against ABC News as the South Dakota-based meat processor works to rebuild its public image, legal experts say.
From http://news.yahoo.com/lawyers-pink-slime-lawsuit-uphill-climb-070409178--finance.html - 9/14/2012 3:18:42 PM
Home Depot closing last 7 China big box outlets
Home Depot Inc., the U.S.-based home improvement retailer, said Friday it will close its remaining seven big box outlets in China and focus on Internet-based sales and specialty stores.
From http://news.yahoo.com/home-depot-closing-last-7-china-big-box-043415743--finance.html - 9/14/2012 1:25:31 PM
Microsoft finds malware on new computers in China
A customer in Shenzhen, China, took a new laptop out of its box and booted it up for the first time. But as the screen lit up, the computer began taking on a life of its own. The machine, triggered by a virus hidden in its hard drive, began searching across the Internet for another computer.
From http://news.yahoo.com/microsoft-finds-malware-computers-china-171038121--finance.html - 9/14/2012 1:11:30 AM
Spanish banks' ECB borrowing hits new high
MADRID (Reuters) - Spanish banks borrowed a record 412 billion euros ($531.77 billion) from the European Central Bank in August, increasingly obliged to lean on the bank for funds as concerns over the country's debt problems blocked their access to capital markets. August's borrowing levels compared with 402 billion euros in July and just 82 billion euros a year earlier, according to data published by the Bank of Spain on Friday. Spanish banks account for 34 percent of the emergency borrowing euro zone banks as a whole took from the ECB, the data showed. ...
From http://news.yahoo.com/spanish-banks-ecb-borrowing-hits-high-103805339--business.html - 9/14/2012 6:38:05 PM
Fed euphoria spurs risk rally, dollar slips
LONDON (Reuters) - The Federal Reserve's new plan to stimulate the U.S. economy and progress on tackling the euro zone crisis spurred a strong rally in risk assets on Friday, pushing global stocks to a 13-month high and sending Spanish and Italian bond yields lower. European equities surged to a 14-month high with London's FTSE , Paris's CAC-40 and Frankfurt's DAX all well up, helping to lift the MSCI index of global stocks to 338.63, its highest level since August last year. ...
From http://news.yahoo.com/risk-assets-rally-broadly-dollar-slips-041859596--finance.html - 9/14/2012 6:33:52 PM
Ahead of the Bell: US Retail Sales
U.S. retail sales likely rose in August for the second straight month, an encouraging sign that consumers are willing to spend even as unemployment remains high.
From http://news.yahoo.com/ahead-bell-us-retail-sales-105023720.html - 9/14/2012 6:33:32 PM
World stocks jump on Fed pledge for US economy
World stock markets shot higher Friday after the Federal Reserve met investor expectations by giving the green light to big asset purchases to boost the U.S. economy.
From http://news.yahoo.com/world-stocks-jump-fed-pledge-us-economy-091101686--finance.html - 9/14/2012 6:30:09 PM
Ex-trader was at risk of losing UBS $12 billion, court told
LONDON (Reuters) - Former UBS trader Kweku Adoboli was at one stage at risk of losing the Swiss bank nearly $12 billion in unhedged investments, a British prosecutor said on Friday. Adoboli, 32, has pleaded not guilty to two counts of fraud and two counts of false accounting related to $2.3 billion in losses uncovered a year ago. "He had been sucked into the gambler's mindset and he started throwing good money after bad," prosecuting counsel Sasha Wass told the jury at Southwark Crown Court during the opening of the case against Adoboli. "He was putting the very existence of the bank at risk. ...
From http://news.yahoo.com/ex-trader-risk-losing-ubs-12-billion-court-102923846--sector.html - 9/14/2012 6:29:23 PM
UBS trader gambled away $2.3 billion, court told
LONDON (Reuters) - A British prosecutor accused former UBS trader Kweku Adoboli on Friday of fraudulently gambling away $2.3 billion, believing he had the magic touch but instead causing "chaos and disaster to himself and to all those around him". Adoboli, 32, is on trial at Southwark Crown Court accused of two counts of fraud and two counts of false accounting. He has pleaded not guilty. ...
From http://news.yahoo.com/ubs-trader-gambled-away-2-3-billion-court-100124824--sector.html - 9/14/2012 6:29:23 PM
ECB denies in talks on Spanish bailout
NICOSIA/AMSTERDAM (Reuters) - The European Central Bank is not negotiating a rescue package for Spain alongside the International Monetary Fund, an ECB spokeswoman said on Friday, denying a newspaper report. "The reporting is unfounded. No negotiations are ongoing. It would be up to Spanish authorities to make a request," the spokeswoman said. Het Financieele Dagblad reported on Friday without naming sources that the ECB and IMF were in talks over a package worth up to 300 billion euros ($387 billion). ...
From http://news.yahoo.com/ecb-not-talks-spanish-bailout-spokeswoman-100250054--finance.html - 9/14/2012 6:25:52 PM
Mauritian sugar firm DRBC's profit up 19 pct before merger
PORT LOUIS (Reuters) - Mauritian sugar producer Deep River Beau Champ Ltd, now part of new firm Alteo Ltd, posted a 19 percent rise in pretax profit for the year ended June 30, helped by increased profitability from its Tanzania operation. Alteo Limited was created in July with the merger of Deep River Beau Champ Ltd and Flacq United Estates Limited (FUEL), becoming the largest sugar milling company on the Indian Ocean island. Alteo said DRBC's pretax profit for the year ending June 30 was 1.188 billion rupees compared to 998,751 million rupees a year earlier. ...
From http://news.yahoo.com/mauritian-sugar-firm-drbcs-profit-19-pct-merger-102524477--finance.html - 9/14/2012 6:25:24 PM
HK worries Fed move will overheat property
The Fed's latest plan to spend billions on securities is being hailed by investors desperate for economic salvation. But in Hong Kong it's causing headaches for policymakers worried about a frothy property market.
From http://news.yahoo.com/hk-worries-fed-move-overheat-property-101644899--finance.html - 9/14/2012 6:17:49 PM
Ex-UBS trader goes on trial accused of $2B fraud
A senior trader at Swiss bank UBS was a "master fraudster" who lost his bank $2.3 billion through risky deals and deceit in a bid to improve his status, bonus and job prospects, prosecutors said Friday.
From http://news.yahoo.com/ex-ubs-trader-goes-trial-accused-2b-fraud-071603955--finance.html - 9/14/2012 6:17:28 PM
Striking South African miners reject Lonmin pay offer
MARIKANA, South Africa (Reuters) - Wildcat strikers at Lonmin's Marikana mine rejected a pay offer on Friday, dashing any hope of ending five weeks of industrial action that has swept through South Africa's platinum sector and laid bare the power struggle in the ruling ANC. Workers camped on a rocky outcrop at the mine, where police shot dead 34 protesters last month, dismissed the offer as way below the 12,500 rand ($1,500) they have been demanding. ...
From http://news.yahoo.com/lonmin-pay-offer-well-short-12-500-rand-064910770--finance.html - 9/14/2012 6:17:13 PM
Brent crude rises towards $118 on Fed stimulus
LONDON (Reuters) - Brent crude rose for the seventh straight session on Friday, climbing towards $118 a barrel on hopes for stronger global demand for oil after the U.S. Federal Reserve launched an aggressive program to stimulate the economy. Brent rose $1.67 to $117.55 a barrel by 1006 GMT, after reaching a four-month peak of $117.95 in earlier trade. The global North Sea benchmark is on track to end the week up more than 2 percent. U.S. crude rose $1.82 to $100.13 a barrel after hitting a four-month high of $100.42. It is set to close the week up 3 percent. ...
From http://news.yahoo.com/brent-crude-rises-above-116-fed-stimulus-action-025206299--finance.html - 9/14/2012 6:15:20 PM
Japan Cabinet panel urges ending use of nuke power
A Japanese Cabinet panel called Friday for phasing out of nuclear power over the next three decades in a major shift for Japan as it overhauls energy policy following the Fukushima meltdowns.
From http://news.yahoo.com/japan-cabinet-panel-urges-ending-nuke-power-081858467--finance.html - 9/14/2012 6:09:40 PM
Euro ministers to discuss giving Greece more time
Greece may be given some more breathing room to meet its bailout commitments but no more money, European finance ministers indicated Friday as they gathered in Cyprus for a top-level meeting.
From http://news.yahoo.com/euro-ministers-discuss-giving-greece-more-time-100202802--finance.html - 9/14/2012 6:04:21 PM
Financial Situation for Unbanked Worsened, Report Says
A new study shows that the number of unbanked households in America — those with no bank accounts — has increased since 2009. Ten million households, or one in 12, are unbanked, said the Federal Deposit Insurance Corporation (FDIC) in its National Survey of Unbanked...
From http://news.yahoo.com/financial-situation-unbanked-worsened-report-says-100203462--abc-news-savings-and-investment.html - 9/14/2012 6:02:03 PM
Draghi to be invited to address German lawmakers
BERLIN (Reuters) - The budget committee of Germany's lower house of parliament will invite the president of the European Central Bank, Mario Draghi, to explain his plans for rescuing the euro, the committee's chairwoman said on Friday. "The invitation to Mario Draghi is being prepared and we are looking forward very much to an exchange of ideas with the ECB president in the budget committee of the German Bundestag," Petra Merkel told Reuters. No date has yet been agreed for Draghi's visit. ...
From http://news.yahoo.com/draghi-invited-address-german-lawmakers-095929684--sector.html - 9/14/2012 5:59:29 PM
Spain urged to clarify aid needs at euro zone meeting
NICOSIA (Reuters) - Euro zone finance ministers pressed Spain on Friday to clarify whether it will seek financial support after the announcement of the European Central Bank's new bond-buying program brought Madrid's borrowing costs sharply lower. Spanish Finance Minister Luis de Guindos deflected questions about a possible aid application on arriving for talks in Cyprus, saying they would discuss in general terms the conditions for ECB intervention in the markets. ...
From http://news.yahoo.com/spain-urged-clarify-aid-needs-euro-zone-meeting-081335940--business.html - 9/14/2012 5:59:29 PM
RBS launches forced stock market sale of Direct Line
LONDON (Reuters) - State-backed Royal Bank of Scotland (RBS) is to press ahead with the forced sale of its Direct Line insurance division in what could be the biggest listing on the London Stock Exchange for more than a year. RBS, which is majority-owned by the government after a bailout during the 2008 financial crisis, was told to sell Britain's biggest motor insurer by European Union regulators as a condition for taking state aid. Analysts say that the initial public offering (IPO), announced by RBS on Friday, could value Direct Line at between 2.5 billion pounds ($4 billion) and 3. ...
From http://news.yahoo.com/britains-rbs-press-ahead-direct-line-flotation-063909640--sector.html - 9/14/2012 5:55:33 PM
Berlin says EADS has asked government to support merger with BAE
BERLIN (Reuters) - Airbus owner EADS has asked the German government to support its planned merger with Britain's BAE Systems , a German government spokesman said on Friday. BAE Systems and EADS said on Wednesday they were in advanced talks to create an industry giant that would overtake rival Boeing in sales and contend with defense cutbacks in Europe and the United States. A newspaper report saying that the government had already given its blessing to the plan has been denied by industry and political sources. ...
From http://news.yahoo.com/berlin-says-eads-asked-government-support-merger-bae-095412106--finance.html - 9/14/2012 5:54:12 PM
ECB not in talks on Spanish bailout: spokeswoman
NICOSIA (Reuters) - The European Central Bank is not negotiating alongside the International Monetary Fund a rescue package for Spain worth potentially 300 billion euros, a spokeswoman said on Friday, denying an earlier newspaper report. "The reporting is unfounded. No negotiations are ongoing. It would be up to Spanish authorities to make a request," the spokeswoman said. "The conditionality required as a prerequisite of the ECB's (Outright Market Transactions) is known. ...
From http://news.yahoo.com/ecb-not-talks-spanish-bailout-spokeswoman-093413506--finance.html - 9/14/2012 5:34:13 PM
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