News Archive - 8 February 2016

>Viacom already has a deal with Snapchat that carries content for Viacom-owned networks Comedy Central and MTV. Snapchat is a mobile app where photos, videos and messages disappear in seconds. The multi-year deal is expected to be discussed by Viacom chief executive Philippe Dauman during the earnings calls on Tuesday,...

>U.S. crude CLc1 was up 44 cents at $30.13 a barrel at 0103 GMT, after rising as far as $30.30. The contract fell nearly 4 percent on Monday, finishing at $29.69.Global crude benchmark Brent LCOc1 was up 17 cents at $33.05 a barrel. It...

>The dollar was last at 115.18 yen JPY= after earlier falling as low as 114.75 yen. (Reporting by Tokyo markets team; Editing by Jacqueline Wong)...

>"It's clear that recent moves have been rough. I'll keep a close watch on movements in the foreign exchange market," Aso told reporters after a cabinet meeting when asked about the yen's gain overnight. The dollar fell to a 15-month low against the yen JPY= on Monday as a renewed...

>SYDNEY Asian share markets were scorched on Tuesday as stability concerns put a torch to European bank stocks and sent investors stampeding to only the safest of safe haven assets.As fear overwhelmed greed, yields on longer-term U.S. Treasury debt hit one-year lows as bond prices rose, the yen...

>The 73-year-old founder of the eponymous financial information group was critical of the quality of debate in the presidential contest and said he was "looking at all the options" when asked whether he was considering a run, the newspaper said."I find the level of discourse and discussion distressingly banal...

>Obama will propose that the SEC be given $1.8 billion and the CFTC $330 million in the budget, economic adviser Jeffrey Zients said in a blog post on the White House website."Last year the Administration fought hard to keep Congressional Republicans from using must-pass budget legislation to roll...

>SAN FRANCISCO Investors spooked by a steep sell-off in enterprise tech stocks will get a fresh glimpse of the health of technology spending on Wednesday when bellwether Cisco Systems Inc posts its quarterly results.The networking equipment maker is the largest of several companies reporting this week that have benefited...

>WASHINGTON The U.S. Department of Homeland Security and the Justice Department are investigating a claim that personal data related to thousands of DHS and FBI employees was hacked and has been posted online, an agency spokesman said on Monday. The tech website Motherboard reported on Sunday that a hacker,...

>OTTAWA Canadian Prime Minister Justin Trudeau said on Monday Canada would pull out six jets that have been bombing targets in Iraq and Syria, ending a controversial combat role in the fight against Islamic State.Trudeau's Liberals won an election last October promising to withdraw the jets but came under...

>NEW YORK (Reuters/IFR) - U.S. bank stocks and bonds took a pounding on Monday as recession fears compounded concern about their exposure to the energy sector and expectations that global interest rates are unlikely to rise quickly.The S&P 500 financial index, already the worst performing sector this year,...

>NEW YORK Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, repeated a December warning on Monday that the dramatic slowdown in global growth will trigger a collapse in some credit funds, saying that the high-yield "junk" bond market still has not hit bottom."Credit fund bankruptcies are coming,"...

>NEW YORK Facing a hostile Congress in an election year, President Barack Obama will be hard-pressed to push through many of the proposals in his final budget as U.S. leader. But that could be a silver lining for investors: If the long-shot plans gain traction, companies that stand to...

>Verizon, the largest U.S. wireless carrier, hasn't hired bankers to conduct an offer and there have been no formal talks, according to the report. Yahoo said last week that it would consider "strategic alternatives" for its core Internet business, even as it continues with its plan to revamp the...

>BRUSSELS The French data protection authority on Monday gave Facebook three months to stop tracking non-users' web activity without their consent and ordered the social network to stop some transfers of personal data to the United States.The French order is the first significant action to be taken against a...

>Daniel Glaser, assistant secretary for terrorist financing at the U.S. Treasury Department, said the strikes had hit the group's ability to extract, refine and transport oil from territory it controlled in Iraq and Syria."When you look at difficulties that we know that they are having with respect to...

>Unlike humans, economic expansions "do not become progressively more fragile with age," San Francisco Fed chief researcher Glenn Rudebusch wrote in the latest edition of the regional bank's Economic Letter. "(B)ased only on age, an 80-month-old expansion has effectively the same chance of ending as a 40-month-old expansion."The study,...

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>The New York Fed's survey of consumers found expectations for inflation one and three years in the future fell as Americans were more cognizant of lower gasoline prices and costs of medical care and college. One-year median expectations have fallen three months running and hit 2.42 percent in January,...

>Shares of cloud services companies such as Splunk Inc and Salesforce.com Inc had also declined sharply on Friday. They fell again on Monday, dragging down the Nasdaq Composite index 2.8 percent to its lowest in nearly 1-1/2 years."I think we're in an environment right now of shoot...

>Pfizer agreed in November to buy Botox-maker Allergan in a deal meant to slash Pfizer's tax rate as the tax-inversion deal would shift its headquarters to Dublin.Pfizer said on Monday it will create a new operating unit to house its consumer healthcare and Allergan's opthalmology and Botox units after...

>WASHINGTON Five Iranian-American groups wrote to U.S. Secretary of State John Kerry last week, urging him to work for the release of an Iranian-American businessman who has been detained in Iran since October.The letter, delivered on Friday, said there was no evidence to justify the detention of Siamak...

>Natural gas producer Chesapeake Energy (CHK.N) has tapped existing adviser Kirkland & Ellis to explore restructuring options, people familiar with the matter told Reuters.The company's shares (CHK.N) plunged 51 percent to $1.50 in early trading.Chesapeake, which has more than $10 billion in debt, has been...

>NEW DELHI/MUMBAI India introduced rules on Monday to prevent Internet service providers from having different pricing policies for accessing different parts of the Web, in a setback to Facebook Inc's plan to roll out a pared-back free Internet service to the masses.The new rules came after a two-month long...

>Wall Street was deep in the red on Monday, as technology stocks extended a selloff from Friday and U.S. crude oil slipped below $30 per barrel, sending investors scurrying for cover to safe-haven assets.The technology-heavy Nasdaq Composite fell 2 percent to its lowest since October 2014, weighed down...

>The company said on Monday its quarterly statements had been tampered with to show consistent growth in same-property net operating income."The board is disappointed to have learned of the conduct and lack of appropriate management supervision uncovered as a result of the audit committee review," Chairman John Schreiber said...

>The offer price of $9.50 per share is a 36.7 percent premium to stock's Friday's close. The consortium includes private equity firm Apollo Global Management LLC (APO.N). (Reporting by Ankit Ajmera in Bengaluru; Editing by Savio D'Souza)...

>"We're keeping all options open in regards to expanding overseas, about a possible takeover as well as about a stock market listing," a spokeswoman for Volkswagen trucks said on Monday, declining to comment on whether a full or partial separation from Volkswagen Group was a possibility. Volkswagen hired former Daimler...

>Clinton and her husband, former president Bill Clinton, had planned to reassess staffing after the first four primaries but are becoming increasingly critical of their aides and demanded the evaluation sooner, according to the report.The former secretary of state would be more inclined to add new staff rather than...

>MANCHESTER, N.H. White House hopefuls Donald Trump and Jeb Bush opened political hostilities on Monday as Republican and Democratic candidates stormed across New Hampshire in a final flurry of events before the state's crucial first-in-the-nation primary.The stage was set for the vote on Tuesday, with New York billionaire...

>Shares of the company, which also reported its first revenue miss in six quarters, fell 4 percent in premarket trading on Monday.Cognizant forecast adjusted profit between 78-80 cents per share and revenue of $3.18 billion-$3.24 billion for the three months ending March.Analysts on average were expecting...

>BEIRUT The Syrian army advanced toward the Turkish border on Monday in a major offensive backed by Russia and Iran that rebels say now threatens the future of their nearly five-year-old insurrection against President Bashar al-Assad.Iranian backed-militias played a key role on the ground as Russian jets intensified what...

>The Paris-based organization said its December monthly composite leading indicators (CLIs), which are supposed to capture economic turning points, confirmed the "tentative signs of stabilization" in China and Brazil seen in November.While momentum was stable in the broader OECD, the indicators for the United States and Britain were suggesting...

>BANGKOK Investors in Big C (BIGC.BK), one of Thailand's largest supermarket chains, cheered on Monday an up to $3.5 billion deal by France's Casino Group (CASP.PA) to sell its majority holding to TCC Group, owned by whiskey tycoon Charoen Sirivadhanabhakdi.Shares in Big C Supercenter hit a...

>WASHINGTON North Korea's latest rocket launch might kick off a buildup of U.S. missile defense systems in Asia, U.S. officials and missile defense experts said, something that could further strain U.S.-China ties and also hurt relations between Beijing and Seoul.North Korea says it put a...

>NAYPYITAW/YANGON Myanmar's parliament will begin its election of the new president on March 17, cutting very close to an April 1 deadline, suggesting talks between Aung San Suu Kyi's victorious party and the military are likely to take longer than planned.But a top military lawmaker on Monday denied that...