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Global financial news, market analysis, economics and forex news

Bill Gross Sues PIMCO For $200 Mln.
Thu, 08 Oct 2015 17:38:10 GMT - Bond management titan Bill Gross has filed suit against his former employer, PIMCO, for breach of contract related to his ouster from the company. Gross is looking for damages of at least $200 million for forcing him out of the company, according to court filings. Gross claims that other managers conspired to push him out of the firm he co-founded in order to improve their own finances.
Nasdaq Firmly In The Red But Dow Posting Modest Gain - U.S. Commentary
Thu, 08 Oct 2015 16:21:11 GMT - While the tech-heavy Nasdaq has slid firmly into negative territory, the Dow and the S&P 500 have shown a lack of direction over the course of the trading day on Thursday.
Astronomers Rank Planets That May Harbor Life
Thu, 08 Oct 2015 15:40:21 GMT - Astronomers at the University of Washington's Virtual Planet Laboratory have determined a new way to judge and rank how suitable alien planets might be capable of supporting life. The ranking will help fellow astronomers to prioritize and point their yet-to-be launched powerful telescopes to those exoplanets - planets outside our solar system - that are most Earth-like.
Obama Apologizes To Aid Group For Hospital Bombing
Thu, 08 Oct 2015 15:23:42 GMT - President Barack Obama spoke with the head of Doctors Without Borders on Wednesday to apologize for a U.S. military airstrike on a hospital in Afghanistan, the White House said.
Stocks Give Back Ground Following Recent Strength - U.S. Commentary
Thu, 08 Oct 2015 14:55:16 GMT - Stocks have moved mostly lower in early trading on Thursday, giving back some ground after ending the previous session notably higher. The major averages have all moved to the downside, although selling pressure has remained somewhat subdued.
IPO Watch: Pure Storage Flops Despite Big Hype
Thu, 08 Oct 2015 14:41:27 GMT - Shares of Pure Storage Inc. did not live up to expectations and tumbled on the opening day of trading following the data storage company's initial public offering. Pure Storage had priced its IPO of 25 million shares of its Class A common stock at $17 per share, in the middle of its targeted range. But its shares closed Wednesday's debut trading at $16.01, almost $1 lower.
House Republicans Create Special Committee To Investigate Planned Parenthood
Thu, 08 Oct 2015 14:20:16 GMT - In a largely party-line vote, the Republican-controlled House approved the creation of a special committee to investigate Planned Parenthood on Wednesday. The House voted 242 to 184 in favor of a resolution to create the panel.
Amazon Looks To Crush Etsy
Thu, 08 Oct 2015 14:16:36 GMT - Aiming for customers that prefer goods made with a little love, Amazon has launched Handmade, an online market selling artisan goods from around the world.
ECB Minutes: Governing Council Saw Rising Downside Risks In September
Thu, 08 Oct 2015 14:00:41 GMT - Downside risks to the euro area growth and inflation outlook, mainly those stemming from the slowdown in emerging economies and the volatility in forex markets, had "clearly increased", while it was too early to conclude that they will have a lasting impact, the minutes of the European Central Bank Governing Council rate-setting session, held on September 2-3 showed Thursday.
U.S. Jobless Claims Pull Back More Than Expected To 263,000
Thu, 08 Oct 2015 13:18:38 GMT - After reporting modest increases in first-time claims for U.S. unemployment benefits in the two previous weeks, the Labor Department released a report on Thursday showing that initial jobless claims pulled back by more than expected in the week ended October 3rd.
U.S. Apparel Retailers Report Mixed September Sales
Thu, 08 Oct 2015 13:12:32 GMT - A sampling of U.S. apparel retailers on Thursday reported mixed sales at established stores for the month of September. Sales during the month were impacted by unseasonably warm weather that delayed purchases of fall apparel and also reflected uneven back-to-school spending. However, low gasoline prices and a late Labor Day holiday helped some retailers to boost sales.
Bank Of England Split Again On Key Rates
Thu, 08 Oct 2015 13:04:25 GMT - The Bank of England decided to maintain its key interest rate unchanged at a record low in a split vote as Ian McCafferty went against majority for the third straight meeting. In the meeting ended October 6, the Monetary Policy Committee voted 8-1 to hold interest rate at 0.50 percent, the bank said in a statement on Thursday, as seen in August and September.
Belarusian Author Svetlana Alexievich Wins Nobel Prize For Literature
Thu, 08 Oct 2015 13:00:19 GMT - Belarusian author and investigative journalist Svetlana Alexievich has won the Nobel Prize for Literature.
Stocks May Move Back To The Downside In Early Trading - U.S. Commentary
Thu, 08 Oct 2015 12:56:09 GMT - After ending the previous session notably higher, stocks may move back to the downside in early trading on Thursday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 60 points.
Volkswagen's U.S. CEO Michael Horn To Testify Before Congressional Committee
Thu, 08 Oct 2015 12:31:07 GMT - Michael Horn, president and chief executive officer of Volkswagen Group of America Inc. will voluntarily testify before the Congressional committee on Energy and Commerce and the subcommittee on Oversight and Investigation on Thursday.
Wall Street Falters Ahead Of FOMC Minutes, Speeches
Thu, 08 Oct 2015 10:30:21 GMT - Early indications suggest that Wall Street stocks may open notably lower on Thursday, as risk aversion returns in full force. The risk-off mood is triggered by apprehensions ahead of the release of the minutes of the Fed's September meeting and a few Fed speeches, as traders seek additional clarity on the interest rate outlook. The unfolding reporting season and chain store sales of the nation's retailers may also offer some cues. Asian stocks ended mixed, while the European markets are languishing in the red amid the release of lackluster German export data. Commodities are retreating, although oil is seeing a small upward bounce, even as the dollar is mostly lower.
E-commerce Startup Abandons $50 Membership Fee
Thu, 08 Oct 2015 09:26:05 GMT - In a surprise move, Inc., which is being projected as the most promising challenge to Inc, abandoned its $50 annual membership fee. The discount-shopping site was launched three months back.
German Exports Decline At Fastest Pace Since 2009
Thu, 08 Oct 2015 09:20:21 GMT - Germany's exports declined most in more than six years in August, suggesting that a slowdown in emerging economies, especially China hurts global demand. Exports plunged a seasonally adjusted 5.2 percent month-on-month in August, reversing a 2.2 percent rise in July, data from Destatis revealed Thursday. This was the biggest decline since January 2009, when it slid 6.9 percent.
Asian Stocks Ease On Profit Taking; Shanghai Surges In Catch-up
Thu, 08 Oct 2015 08:26:13 GMT - Asian stocks ended mostly lower on Thursday despite positive overnight cues from the U.S. and European markets. Investors went into a profit-booking mode after the International Monetary Fund warned of fresh shocks to global financial stability and called for an urgent policy upgrade to ensure better growth prospects.
Alcoa- Seeking Growth From Split
Thu, 08 Oct 2015 08:15:23 GMT - Gone are the days when Alcoa lead the parade of companies set out to divulge their quarterly score card to the Street. Incidentally, PepsiCo. (PEP) pipped past Alcoa and reported forecast-beating results on Tuesday. Alcoa had even exited the Dow Industrial Average two years back, reflecting its waning importance to the economy and markets.
Earnings Reported After The Bell Oct. 7
Thu, 08 Oct 2015 06:42:40 GMT - Here is a quick summary of the earnings reported after the bell on October 7.
European Stocks Seen Flat After Recent Gains
Thu, 08 Oct 2015 05:57:28 GMT - The European markets are poised to open little changed on Thursday after four days of gains. Global cues remain lackluster, with U.S. stock futures drifting lower while Asian stocks are mostly lower after recent sharp gains.
Asian Markets Exhibit Mixed Trend, China Shares Rally
Thu, 08 Oct 2015 03:12:19 GMT - Asian stock markets are mixed on Thursday despite the positive lead overnight from Wall Street and European markets, while Chinese shares surged as the mainland markets resumed trade after a week-long holiday.
Stocks Fluctuate But Manage To Close Firmly Positive - U.S. Commentary
Wed, 07 Oct 2015 20:22:54 GMT - Stocks fluctuated over the course of the trading session on Wednesday but largely managed to maintain a positive bias on the day. With the upward move, the Dow ended the session at its best closing level in well over a month.
Half Of Voters Have No Opinion Of Kevin McCarthy
Wed, 07 Oct 2015 17:44:45 GMT - While reports suggest House Majority Leader Kevin McCarthy, R-Calif., is close to securing the votes needed to become the next House Speaker, the results of a Public Policy Polling survey found that many voters do not have an opinion of the Congressman.
Stocks Showing A Lack Of Direction In Mid-Day Trading - U.S. Commentary
Wed, 07 Oct 2015 16:14:51 GMT - After failing to sustain an early move to the upside, stocks have shown a lack of direction over the course of the trading day on Wednesday. The major averages have recently been bouncing back and forth across the unchanged line.
Staples To Close For Thanksgiving
Wed, 07 Oct 2015 15:46:07 GMT - In a sign that other retailers may be re-thinking their Thanksgiving hours, Staples will be closed for the day. Like Wal-Mart and others, Staples was open on Thanksgiving Day for the past two years.
Poll Shows Biden, Carson Perform Well In Key Swing States
Wed, 07 Oct 2015 15:40:53 GMT - Donald Trump and Hillary Clinton lead the races for their respective party's presidential nominations in Florida, Ohio and Pennsylvania, but the results of a Quinnipiac University poll show Vice President Joe Biden and Dr. Ben Carson are the best general election candidates in the key swing states.
Stocks Give Back Ground After Early Move To The Upside - U.S. Commentary
Wed, 07 Oct 2015 14:57:05 GMT - After moving notably higher in early trading on Wednesday, stocks have recently given back some ground but remain mostly positive. The major averages have all moved to the upside after ending the previous session mixed.
European Court Rules Digital Info Transfer Agreement Invalid
Wed, 07 Oct 2015 14:48:16 GMT - European Court of Justice in Luxembourg has canceled the international agreement between European Union and United States to handover digital information, such as web search histories and social media updates. The ruling will be a blow to tech giants Google, Microsoft, Facebook, Amazon, etc.

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