Industry News

Credit Suisse: There's a Growing Threat of a Major Top in the S&P 500

Yahoo! Finance - 3 hours 29 min ago
In a new note, Ric Deverell and his team at Credit Suisse point to some technical levels worth watching, one of which could be a big signal that the top is in for the S&P 500-stock index. The big question now is whether this is just a correction in a bull market," he told us.
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Senate propels stopgap spending bill to keep government open

Yahoo! Finance - 3 hours 29 min ago
The Senate is on track to pass a spending bill to prevent the government from shutting down this week, over the opposition of the most hardline conservative Republicans. Tuesday's expected vote comes after ...
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House chair: Planned Parenthood doesn't need federal money

Yahoo! Finance - 3 hours 29 min ago
In Planned Parenthood's first congressional appearance since being embarrassed by surreptitiously recorded videos, a House committee chairman insisted Tuesday that the organization does not need federal ...
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Stocks may be setting up for negative year

Yahoo! Finance - 3 hours 29 min ago
Stocks are testing the lows of the year and could be setting up for the first really negative year since 2008.
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US home prices rise steadily in July, lifted by higher sales

Yahoo! Finance - 3 hours 29 min ago
U.S. home prices rose at a solid pace in July, as would-be buyers competed for a diminished supply of available housing. The Standard & Poor's/Case-Shiller 20-city home price index climbed 5 percent in ...
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Dutch prosecutors raid Uber's offices in Amsterdam

Yahoo! Finance - 3 hours 29 min ago
Dutch prosecutors said on Tuesday they have raided Uber's European headquarters in Amsterdam as part of a criminal investigation into whether the company is offering illegal taxi services. A spokeswoman for the Netherlands' national financial crimes prosecutor said Uber had previously been fined 450,000 euros by the country's Transport Inspectorate for allowing unlicensed drivers to offer taxi services through its UberPOP ride-sharing service. "The suspicion is that they have continued doing that, despite the fine," Marieke van der Molen said.
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Glencore shares halt slide, broker recommends going private

Yahoo! Finance - 3 hours 29 min ago
Shares of Glencore (GLEN.L) halted their slide on Tuesday after losing around a third of their value on Monday, with several brokers saying worries over the commodities and mining company's debt pile were overdone. Analysts at Citi said Glencore should even consider going private via a management buyout if the market rout continued. "In the event the equity market continues to express its unwillingness to value the business fairly, the company management should take the company private, whereby restructuring measures can be taken easily and quickly," Citi analysts wrote in a note to clients.
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Goldman Sachs cuts forecasts for S&P 500

Yahoo! Finance - 3 hours 29 min ago
Goldman Sachs has cut its year-end forecast for the S&P 500 due to a slower pace of economic activity in China and the U.S. as well as low oil prices.
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NYC mayor to urge city pension funds to divest from coal

Yahoo! Finance - 3 hours 29 min ago
New York City Mayor Bill de Blasio is set to propose that New York City's pension funds divest from coal. De Blasio administration officials told The Associated Press that the mayor will begin making his ...
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Icahn to Yahoo Finance: It's going to be a real 'bloodbath'

Yahoo! Finance - Mon, 2015-09-28 23:25
Carl Icahn tells Andy Serwer why he believes we're headed for a "bloodbath," and why he chose now to release a new video expressing his concerns about the markets and the country's current path.
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Asia shares skid to 3-1/2-year lows on China anxiety

Yahoo! Finance - Mon, 2015-09-28 23:25
Asian shares skidded to 3-1/2-year lows and the dollar sagged on Tuesday, pulled down by a sharp losses on Wall Street after weak Chinese data rekindled worries about its fragile economy. Commodities struggled ...
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Icahn urges Fed to get off zero, says 'treacherous path' undertaken

Yahoo! Finance - Mon, 2015-09-28 23:25
Billionaire investor activist Carl Icahn ramped up criticism of the U.S. Federal Reserve, warning about the unintended consequences of ultra low interest rates on the economy and financial markets. "They don't understand the treacherous path they are going down," Icahn said in an interview with Reuters, in which he also declared his support for Donald trump as a candidate to be the next U.S. president. It's very dangerous and could be disastrous," said Icahn, who has been a consistent critic of the Fed for keeping its benchmark interest rate close to zero since late 2008.
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Glencore slumps 30 percent as debt fears grow

Yahoo! Finance - Mon, 2015-09-28 23:25
Shares in mining and trading company Glencore fell almost 30 percent and closed at a record low on Monday over concerns it is not doing enough to cut its debt to withstand a prolonged fall in global metals prices. About 3.5 billion pounds ($5.33 billion) in market value was wiped off the Swiss-based firm, whose $10 billion share offering in 2011 turned its managers into billionaire shareholders but left it saddled with debt - a growing problem as commodity prices fell. Glencore has said it will suspend dividends, sell assets and raise cash, among other measures, to cut its $30 billion debt pile and protect its rating after the prices of its main products, copper and coal fell.
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Energy Transfer to buy Williams for $33 billion after long quest

Yahoo! Finance - Mon, 2015-09-28 23:25
The takeover ends a pursuit stretching back to January and marks the first major buyout of a midstream company since oil prices crashed. It will create one of the world's largest energy infrastructure companies, alongside Kinder Morgan Inc. and Enterprise Products Partners (EPD.N). Williams turned that down, but its worth has sunk by a third since then as an energy slump that started in mid-2014 drags on.
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U.S. court hears challenge to $5.7 billion Visa, MasterCard settlement

Yahoo! Finance - Mon, 2015-09-28 23:25
A U.S. appeals court on Monday weighed whether to uphold the approval of an estimated $5.7 billion antitrust settlement by MasterCard Inc (MA.N) and Visa Inc (V.N) with merchants over credit card fees despite the objection of several major retailers. A lawyer for retailers including Target Corp (TGT.N) and Amazon.com Inc (AMZN.O) urged the 2nd U.S. Circuit Court of Appeals in New York to reject the deal, saying it forces merchants to give up their rights to sue over various policies and practices.
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Germany investigates VW's ex-boss over fraud allegations

Yahoo! Finance - Mon, 2015-09-28 23:25
German prosecutors launched an investigation on Monday into fraud allegations against former Volkswagen (VOWG_p.DE) boss Martin Winterkorn, showing their determination to get quickly to the bottom of a scandal over rigged emissions tests that has rocked the global car industry. The German company also suspended three top engineers, sources familiar with the matter told Reuters, as it tries to get to grips with a crisis that has knocked more than a third off its market value and could harm Germany's economy. Volkswagen has admitted cheating diesel emissions tests in the United States but Germany's transport minister says it also manipulated tests in Europe, where it has much bigger sales, and it faces the worst business crisis in its 78-year history.
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Oil prices remain weak on Asia economy woes; shares in commodity firms tumble

Yahoo! Finance - Mon, 2015-09-28 23:25
Oil prices remained low in early Asian trading on Tuesday following a slide of almost 3 percent the previous session, dragged down as concerns over Asia's economic health mounted and as production remained high. U.S. West Texas Intermediate (WTI) futures (CLc1) were at $44.44 a barrel, virtually unchanged from their last settlement. Oil prices, along with most other commodities, have fallen sharply recently, with crude futures losing almost 60 percent of their value since June 2014.
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Mixed messages as Fed officials go public in force

Yahoo! Finance - Mon, 2015-09-28 23:25
William Dudley, head of the New York Fed, and John Williams, head of the San Francisco Fed, both signaled support for an interest rate hike this year, saying they expect inflation to rise towards the Fed's 2-percent target. Williams sounded more hawkish, saying that just "a little bit" more data could convince him that a rate hike is needed. The Fed's 17 policymakers have scheduled 16 separate speeches or public appearances this week across the country, less than two weeks after the central bank decided to delay what would be its first rate hike in nearly a decade.
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Microsoft reorganizes its financial results reporting

Yahoo! Finance - Mon, 2015-09-28 23:25
Microsoft Corp said it was changing the way it reported financial results to reflect its emphasis on cloud and mobile businesses. Starting this quarter, the company will report revenue and operating income ...
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Index Crediting Strategy for Voya’s Annuities Suite

Plansponsor.com - Mon, 2015-09-28 13:34
Voya Financial announces a new index crediting strategy for its suite of fixed index annuity products.
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