CEO exit seen perfect time for Singapore bourse to lose regulatory ...
Sun 1:00pm (Repeats item published late Friday, no changes to text) * Calls grow for new securities regulator * SGX's stock trading volumes fell 21 pct in 2014 * Stock market struggled after penny stock scandal By Anshuman Daga and Rachel Armstrong SINGAPORE, Feb 27 (Reuters) - Singapore Exchange Ltd (SGX) may have just begun its search for a new CEO but investors and brokers already know what change they want to see: the bourse stripped of its regulatory powers and a rebuilding of its stock market business. Unlike other major financial markets, Singapore does not have a dedicated securities watchdog. Instead SGX is the front-line regulator and is in turn regulated by the central bank, the Monetary Authority of Singapore.
Jobs report may test market's complacency
The U.S. stock market has been quiet this week - too quiet. Wall Street has traded in a tight raFri 5:13pm The U.S. stock market has been quiet this week - too quiet. Wall Street has traded in a tight range of late, with both volatility and trading volumes drying up as the earnings season winds down and Federal Reserve Chair Janet Yellen's recent Congressional testimony delivered no surprises. About 238,000 jobs are expected to have been added in February, according to the non-farm payroll report that will be released on Friday, down from the 257,000 added in January. "Economic data will be the biggest driver of market moves over the next month, and the key one is the jobs report," said Jim McDonald, chief investment strategist at Chicago-based Northern Trust Asset Management.
J.C. Penney and Gap are big market movers
Fri 1:55pm Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE J.C. Penney Co., down 62 cents to $8.50 The department store operator reported ...
Wall Street ends down after data; posts strong gains for month ...
NEW YORK (Reuters) - The S&P 500 posted its best monthly gain since October 2011 on Friday, Fri 1:36pm NEW YORK (Reuters) - The S&P 500 posted its best monthly gain since October 2011 on Friday, but U.S. stocks ended lower for the day as U.S. economic growth slowed more sharply than initially thought in the fourth quarter.
TSX steady as miners, banks edge higher
By John Tilak TORONTO (Reuters) - Canada's main stock index closed little changedFri 1:32pm By John Tilak TORONTO (Reuters) - Canada's main stock index closed little changed on Friday as higher bullion prices boosted shares of gold miners, while banks climbed after reporting quarterly results earlier this week. The bank results helped calm investor fears about the impact a sluggish economy and the oil-price slump are having on financial institutions. The Toronto stock market's benchmark index recorded at 3.8 percent gain this month, lifted by a rebound in its energy and financial sectors. ...
Stocks slip after weaker growth, end best month since 2011
The stock market is closing lower following news that U.S. economic growth slowed more sharply than prFri 1:11pm The stock market is closing lower following news that U.S. economic growth slowed more sharply than previously estimated in the final three months of the year.
Obama struggles with Wall Street to woo Democrats over broker ...
By Sarah N. Lynch and Suzanne Barlyn WASHINGTON (Reuters) - The Obama administration is battling Wall StFri 11:30am By Sarah N. Lynch and Suzanne Barlyn WASHINGTON (Reuters) - The Obama administration is battling Wall Street to win the support of dozens of Democrat lawmakers over rules that could rein in brokers who handle trillions of dollars in retirement accounts. President Barack Obama on Monday called on the Department of Labor to write new rules for brokers that seek to reduce conflicts of interest and "hidden fees" the White House says cost Americans $17 billion from their retirement plans every year. He portrayed the reform as a central tenet of middle-class economics that would help Americans "retire with dignity." What Obama didn't mention is that more than 100 current and former Democrats in the U.S. House of Representative and Senate have raised concerns in the past about attempts to draft such rules, either through comment letters or by voting for legislation that would delay such a reform.
FTSE touches record highs as IAG, Standard Chartered rise
By Sudip Kar-Gupta LONDON (Reuters) - Britain's top equity index touched a record high onFri 9:13am By Sudip Kar-Gupta LONDON (Reuters) - Britain's top equity index touched a record high on Friday, helped by gains in Asian-focused bank Standard Chartered and International Consolidated Airlines Group . The blue-chip FTSE 100 index at one stage rose as much as 0.3 percent to a record intraday high of 6,967.24 points, before easing back to close flat at 6,946.66 points. The FTSE has benefited along with other world stock markets from record low interest rates and central bank stimulus measures. Signs of a UK economic recovery have also pushed the British stock market higher.
Stocks slip at midday after weaker estimate of US growth
The stock market is mostly lower in midday trading following news that U.S. economic growth slowed mFri 8:50am The stock market is mostly lower in midday trading following news that U.S. economic growth slowed more sharply than previously estimated in the final three months of the year.
Stock market slips after weaker than expected growth in US
Fri 6:41am The stock market is opening slightly lower after the U.S. economy slowed more sharply than expected in the final three months of the year. The Dow Jones industrial average slipped 15 points, or 0.1 percent, ...
VW keeps profit outlook after record earnings
Volkswagen stuck to its guidance for operating profit even after making record earnings last year, saying Fri 6:36am Volkswagen stuck to its guidance for operating profit even after making record earnings last year, saying geopolitical risks and falling demand in key markets may weigh on business. "Given the subdued growth prospects in regions outside China, there is no guarantee that 2015 will be a successful year, either for the industry or for VW," finance chief Hans Dieter Poetsch said on Friday. Volkswagen said its 2015 group operating margin could be in a range of 5.5 to 6.5 percent, leaving its forecast unchanged. The return on sales at the group, whose brands include Audi, Bentley and Porsche, rose to 6.3 percent last year from 5.9 percent in 2013, VW said.
Wall Street set for flat open after GDP data
Gross domestic product expanded 2.2 percent in the fourth quarter, revised down from 2.6 Fri 6:19am Gross domestic product expanded 2.2 percent in the fourth quarter, revised down from 2.6 percent estimated last month, the Commerce Department said on Friday. "It was basically as expected, but it certainly shows weak growth in the quarter." said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York. Each of the three major indexes were on track for a fourth straight week of gains, although the weekly climb has been slight, with the Dow and S&P 500 near record highs and the Nasdaq within striking distance of the 5,000 level. Later in the session at 10:00 a.m. (1500 GMT), the University of Michigan's final February reading on consumer sentiment is expected, along with pending home sales for January.