Thu, 31 Jul 2014 05:57:00 -0400

Reflections are seen on a logo of Spain's telecommunications giant Telefonica in MadridBy Julien Toyer and Andrés González MADRID (Reuters) - Spain's Telefonica SA showed early signs of a turnaround in its biggest market Spain after reporting a 15 percent fall in second-quarter income. Although Telefonica's revenues in Spain were down sharply there was also evidence that the investment is starting to show some results with new clients signing on to mobile, fibre and TV deals. The company, which has agreed to buy Prisa's pay-TV business Canal+, said 348,000 new clients had signed to its TV packages in Spain in the second quarter and it had gained mobile subscribers in the country for the first time in three years. It also said it had now connected 5 million homes to its fibre network in Spain and that the service has 861,000 clients.


Thu, 31 Jul 2014 03:57:10 -0400

To match Feature FOOD-WHISKY/CHINADiageo , the world's largest distilled drinks maker by sales, posted weaker-than-expected earnings on Thursday, hurt by a slowdown in China and volatility in other emerging markets. Over the last year, the maker of Johnnie Walker Scotch whisky, Smirnoff vodka and Guinness stout has grappled with a host of issues in emerging markets - including currency devaluations, a tax increase on one of its beers in Kenya and a steep decline in sales of Chinese baiju spirit, due to government-enforced austerity measures. Diageo reported earnings of 95.5 pence per share before exceptional items for the full year ended June 30, down from 103.1p a year before and below analysts' forecasts around 97.7p. Diageo did not provide a forecast for the current year, but Chief Financial Officer Dierdre Mahlan told reporters trading in North America and western Europe should continue in a similar trend as recently, though emerging markets should improve, probably in the back-half of the year.


Thu, 31 Jul 2014 03:37:24 -0400
BERLIN (AP) — Siemens says its net profit rose 27 percent in the April-June period after earnings a year earlier were weighed down by restructuring costs, though the strong euro hurt its revenue and new orders figures.
Thu, 31 Jul 2014 03:16:03 -0400
AMSTERDAM (AP) — Budweiser brewer AB InBev SA, the world's largest beer maker, says sales and underlying earnings grew in the second quarter, with 7.2 percent growth in Brazil, thanks in part to the World Cup, and it sees an improving economic outlook in the U.S.
Thu, 31 Jul 2014 02:20:01 -0400
Dubai luxury property developer DAMAC is offering investors the option of converting its Global Depositary Receipts (GDRs), listed on the London bourse, into ordinary shares that would be listed on Dubai's main stock market. Investors would get around 23.08 shares per GDR. They have until Sept. 2 to decide on the offer, the developer said in a statement to the London bourse on Wednesday. No new shares would be listed and executive chairman Hussain Sajwani would continue to hold 85 percent of the company.
Thu, 31 Jul 2014 02:19:15 -0400
British holiday operator Thomas Cook reported a recovery in quarterly earnings and said it was confident its transformation plan was on track. Thomas Cook (Xetra: A0MR3W - news) posted earnings before interest and taxes (EBIT) of 33 million pounds ($56 million) in the three months to the end of June, its fiscal third quarter, a big improvement on the 1 million pounds it made in the same period last year, helped by the timing of Easter.
Thu, 31 Jul 2014 02:18:05 -0400
Oil major Royal Dutch Shell Plc , which has been shedding assets to cut costs and streamline operations, reported a 33 percent increase in adjusted quarterly earnings after producing more liquids and selling ...
Thu, 31 Jul 2014 01:37:58 -0400

A view shows the logo of Sanofi Pasteur on a building at the French drugmaker's vaccine unit Sanofi Pasteur plant in Neuville-sur-Saone, near LyonFrench drugmaker Sanofi raised its full-year guidance on Thursday after it posted stronger than expected quarterly earnings, driven by its rare disease business and higher sales in emerging markets. Sanofi's business net income, which excludes items such as amortisation and legal costs, rose 3.9 percent to 1.54 billion euros (902 million pounds) on sales of 8.08 billion, putting business EPS at 1.17 euros per share. Adverse foreign exchange rates, mainly the result of a strong euro and weak US dollar, shaved 5.5 percentage points off quarterly sales growth. At constant exchange rates, sales in emerging markets - which account for over a third of Sanofi's revenue - rose 16.5 percent, driven by Latin America and China, and 9.4 percent in the United States.


Wed, 30 Jul 2014 22:09:05 -0400

Actress Maslany takes part in a panel discussion of BBC America's new series "Orphan Black" during the 2013 Winter Press Tour for the Television Critics Association in Pasadena, California(Reuters) - AMC Networks Inc is in talks to take a minority stake in BBC America, the Wall Street Journal on Wednesday cited people familiar with the matter as saying, in a deal that will team two smaller production houses known for high-quality programming. AMC, known for "Breaking Bad" and "The Walking Dead," and BBC America have been in talks for several months, the paper cited the unidentified sources as saying. Under a deal being discussed, AMC would represent BBC America in distribution negotiations with pay-TV operators, the Journal cited one of the people as saying, giving BBC America the chance to increase its presence in U.S. households and raise the fee it receives from operators. BBC America's shows include "Doctor Who" and "Orphan Black." AMC and BBC America were not immediately available for comment.


Wed, 30 Jul 2014 21:57:20 -0400
* ASX 200 rises 0.3 percent, set to add 4.4 percent for July SYDNEY/WELLINGTON, July 31 (Reuters) - Australian shares added 0.3 percent on Thursday to hit another six-year high with the banking sector and an uptick on Wall Street supporting gains. The banking sector climbed higher, led by Commonwealth Bank of Australia which added 0.7 percent to trade at a record high of A$83.74. National Australia Bank rose 0.6 percent, while Westpac Banking Corp climbed 0.8 percent, and said it has appointed Dave Curran as the new chief information officer.
Wed, 30 Jul 2014 20:12:58 -0400

Traders work on the floor of the New York Stock Exchange shortly after the market's opening in New YorkBy John McCrank NEW YORK (Reuters) - U.S regulators may relax rules that require the fastest possible execution of securities trades, potentially helping upstart trading venue IEX Group's plans to become a full-fledged stock exchange. IEX was described in author Michael Lewis' book "Flash Boys: A Wall Street Revolt" earlier this year as a place for investors to place buy and sell orders without worrying that they are being "front-run" by other traders whose order transmission speeds are faster than theirs. IEX has put in place a "speed bump" – delaying incoming orders by 350 millionths of a second, or a thousandth of the time it takes to blink -- on its trading venue, letting it update prices faster than the fastest market participants can calculate them, so that high-frequency trading firms cannot use their speed advantage to front-run others. The strategy has proved popular with investors, who have made IEX the 7th most used alternative trading system in the U.S. for the week of July 7, according to data from the Financial Industry Regulatory Authority.


Wed, 30 Jul 2014 20:10:00 -0400
London stocks were trading in the red for a second straight day on Thursday as investors gave a mixed reaction to a wave of blue-chip corporate earnings and showed their nerves amid policy tightening speculation ...
Wed, 30 Jul 2014 20:06:00 -0400
European stocks were in the red as Banco Espirito Santo dragged Portuguese equities lower after posting a first-half €3.6bn loss.
Wed, 30 Jul 2014 18:20:44 -0400

Scaffolding is seen outside the NASDAQ MarketSite in Times Square in New YorkBy Caroline Valetkevitch NEW YORK (Reuters) - The S&P 500 and Nasdaq ended higher on Wednesday after the Federal Reserve gave a rosier assessment of the U.S. economy while reaffirming that it is in no hurry to raise interest rates. Among the biggest positives were bank shares, with the S&P financial index up 0.4 percent, helping to support the S&P 500. "We got the taper as expected, and the real viewpoint of the committee is they can keep monetary policy accommodative even after we reach our inflation and employment goals," said Art Hogan, chief market strategist at Wunderlich Securities in New York. Biotechnology stocks boosted the Nasdaq for a second straight day.


Wed, 30 Jul 2014 17:26:19 -0400
By Ritsuko Ando TOKYO (Reuters) - At the New York Stock Exchange last September, buoyed by high hopes for Japan's economic revival, Prime Minister Shinzo Abe urged Wall Street to "Buy m...
Wed, 30 Jul 2014 17:03:45 -0400

A view shows the Standard & Poor's building in New York's financial district(Reuters) - Standard & Poor's on Wednesday cut its credit rating on Argentina's foreign-currency sovereign debt to "selective default" even as talks between officials from Latin America's No. 3 economy and a group of holdout creditors continued in New York. S&P said that in its opinion, Argentina has now failed to make a $539 million payment due on its discount bonds due in 2033. Argentina has exhausted all legal options to avoid payment. The default rating will remain until Argentina makes a payment on the discount bonds, S&P said.


Wed, 30 Jul 2014 17:01:35 -0400

Whole Foods plans major marketing pushWhole Foods reported quarterly sales that fell shy of Wall Street expectations and lowered its outlook for the year, raising worries about the intensifying competition the organic and natural products ...


Wed, 30 Jul 2014 16:55:27 -0400

Trader James Dresch, right, works on the floor of the New York Stock Exchange, Monday, June 30, 2014. European stocks were lower Wednesday July 30, 2014 ahead of U.S. economic data while cheery earnings from major Japanese companies such as Honda Motor Co. boosted Asian markets.(AP Photo/Richard Drew)NEW YORK (AP) — A cheerful report on the U.S. economy, rising profits and no surprises from the Federal Reserve left the stock market nearly where it started on Wednesday.


Wed, 30 Jul 2014 15:51:25 -0400

Traders work on the floor of the New York Stock Exchange shortly after the market's opening in New YorkBy John McCrank NEW YORK (Reuters) - U.S regulators may relax rules that require the fastest possible execution of securities trades, potentially helping upstart trading venue IEX Group's plans to become a full-fledged stock exchange. IEX was described in author Michael Lewis' book "Flash Boys: A Wall Street Revolt" earlier this year as a place for investors to place buy and sell orders without worrying that they are being "front-run" by other traders whose order transmission speeds are faster than theirs. IEX has put in place a "speed bump" – delaying incoming orders by 350 millionths of a second, or a thousandth of the time it takes to blink -- on its trading venue, letting it update prices faster than the fastest market participants can calculate them, so that high-frequency trading firms cannot use their speed advantage to front-run others. The strategy has proved popular with investors, who have made IEX the 7th most used alternative trading system in the U.S. for the week of July 7, according to data from the Financial Industry Regulatory Authority.


Wed, 30 Jul 2014 13:10:39 -0400

A general view of the lobby outside of the Carlyle Group offices in WashingtonBy Greg Roumeliotis NEW YORK/LONDON (Reuters) - Carlyle Group LP said on Wednesday its second-quarter earnings doubled from a year earlier as one of its European buyout funds started paying performance fees, highlighting the growth potential of its private equity business in Europe. While two U.S. buyout funds accounted for more than half of all of Carlyle's performance fees in the quarter, the Washington, D.C.-based private equity firm said its third European buyout fund was now also a contributor. "Europe and Japan are both priced at about 20 percent lower than the United States. "I like the opportunities in Europe," he added in a phone interview with Reuters.


Wed, 30 Jul 2014 12:34:10 -0400
European shares closed lower on Wednesday, as strong U.S. growth failed to offset some weak earnings reports and concern the conflict between Russia and Ukraine will escalate. Holcim's and HeidelbergCement's ...
Wed, 30 Jul 2014 12:18:11 -0400

Trader James Dresch, right, works on the floor of the New York Stock Exchange, Monday, June 30, 2014. European stocks were lower Wednesday July 30, 2014 ahead of U.S. economic data while cheery earnings from major Japanese companies such as Honda Motor Co. boosted Asian markets.(AP Photo/Richard Drew)NEW YORK (AP) — U.S. stocks turned lower in midday trading, erasing an early gain. Trading was quiet as investors waited for a statement from the Federal Reserve later Wednesday.


Wed, 30 Jul 2014 11:50:40 -0400

A portrait of the Snapchat logo in Ventura(Reuters) - Snapchat, an app that lets users send messages that disappear after a few seconds, is in talks with investors, including Alibaba Group Holding Ltd [IPO-BABA.N], for financing that could value the company at $10 billion, Bloomberg reported. The terms of the funding may change, Bloomberg said, citing people with knowledge of the matter. Snapchat, popular with teenage users, turned down a $3 billion acquisition offer from Facebook Inc last year, the Wall Street Journal reported in November. Facebook launched Slingshot, a similar smartphone app, on June 17.


Wed, 30 Jul 2014 10:29:33 -0400

FILE - This Tuesday, July 17, 2012, file photo shows the corporate headquarters of Wellpoint in Indianapolis. Wellpoint reports quarterly financial results on Wednesday, July 30, 2014. (AP Photo/Michael Conroy, File)NEW YORK (AP) — WellPoint's second-quarter profit fell 8.6 percent as expenses tied to changes in the nation's health care laws climbed.


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