07272016Wed
Last update: Wed, 27 Jul 2016 10pm

Americas

Markets - Equity - Americas

NY insider trading ruling tests prosecutors beyond Wall Street NEW YORK: A court ruling that sharply curtailed the ability of prosecutors including Manhattan US Attorney Preet Bharara to pursue insider trading cases is increasingly testing regulators' abilities across the country.Defendants in California and Massachusetts have sought to take advantage of a December ruling from the 2nd US Circuit Court of Appeals in New York that narrowed the definition of insider trading, making it harder for prosecutors to pursue their cases.The challenges raise the possibility that the 2nd Circuit decision, legally binding only in New York, Connecticut and Vermont, could be adopted by other jurisdictions nationally or could create a split among the federal courts.The ruling reversed the convictions of Todd Newman, a former portfolio manager at Diamondback Capital Management, and Anthony Chiasson, co-founder of Level Global Investors.A three-judge panel held that prosecutors need to prove a trader knew the original source of a tip received a benefit in exchange ...

Markets - Equity - Americas

Wall St Weak Ahead-Eyes on Fed after ECB, other bank stimulus moves NEW YORK: The Federal Reserve could be key for Wall Street next week as investors get to hear from the US central bank for the first time since a series of moves by its global peers, including the European Central Bank's massive stimulus plan. Thursday's larger-than-expected stimulus package from the ECB lifted US stocks, helping indexes post gains for the week after three straight weeks of losses. But the increased stimulus measures from the ECB ...

Markets - Equity - Americas

Wall Street rides higher in week helped by ECB NEW YORK: A tumble of blue-chip stock shares on Friday failed to erase another week of gains for Wall Street.US stocks managed to claw back most of the losses from the beginning of 2015 buoyed by a larger-than-expected stimulus from the European Central Bank, generally higher corporate earnings and a burst of buying in big tech firms.The Dow Jones Industrial Average put on 0.9 percent to end the week at 17,672.60, and the broader S&P ...

Markets - Equity - Americas

TSX little changed as energy shares offset mining drop TORONTO: Canada's main stock index was little changed on Friday, with strength in energy shares offset by the mining sector, as investors processed moves by the Bank of Canada and the European Central Bank earlier this week. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 15.37 points, or 0.1 percent, at 14,779.35. Six of the 10 main sectors on the index were higher.Copyright Reuters, 2015 ...

Markets - Equity - Americas

ECB easing pushes European equities to 7-year high, euro sinks NEW YORK: European stocks hit seven-year highs on Friday, continuing a rally ignited by the European Central Bank's plan for massive regional economic stimuli that also knocked the euro to 11-year lows.Wall Street mostly fell on soft corporate earnings news after the S&P 500 rallied 1.5 percent on Thursday on the ECB's $1 trillion bond-buying announcement.The euro went into another nose-dive, hitting a low of $1.1115 in its biggest daily fall in over three years, ...

Markets - Equity - Americas

Box hits Wall Street with a bang after IPO NEW YORK: Cloud storage startup Box soared in its Wall Street debut Friday after a public share offering, pushing its market value to $2.7 billion.Trading under the symbol "BOX," the shares jumped 66 percent to close at $23.23 on the New York Stock Exchange from the offering price of $14 announced Thursday.Box, one of the growing cloud storage firms along with rival Dropbox, was founded in 2005 by University of Southern California student Aaron Levie ...

Markets - Equity - Americas

Wall St opens flat on soft earnings NEW YORK: US stock opened little changed on Friday, as some weak corporate earnings took the steam out of a four-session winning streak.The Dow Jones industrial average fell 12.2 points, or 0.07 percent, to 17,801.78, the S&P 500 lost 1.33 points, or 0.06 percent, to 2,061.82 and the Nasdaq Composite dropped 2.87 points, or 0.06 percent, to 4,747.53. Copyright Reuters, 2015 ...