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PNC Financial Services Group Inc

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  • US home sales rise in December Friday, 23 Jan 2015 | 10:01 AM ET

    WASHINGTON— More Americans purchased homes in December, yet total sales slipped in 2014 as first-time buyers struggled to find houses. The National Association of Realtors said Friday that sales of existing homes rose 2.4 percent last month to a seasonally adjusted annual rate of 5.04 million. "Sales will increase throughout 2015 as potential buyers feel...

  • Banks including Wells Fargo& Co and PNC Financial Services Group are contemplating steps like investing their extra cash at current low yields or using derivatives that pay off if rates stay low. Positioning for higher rates has cost the 20 largest U.S. banks somewhere between $2.5 billion and $3 billion of income each quarter, roughly 6 percent of their...

  • PNC Financial Services tops Street 4Q forecasts Friday, 16 Jan 2015 | 7:12 AM ET

    PITTSBURGH— PNC Financial Services Group Inc. shares gained Friday after the bank reported a better-than-expected fourth quarter. Analysts surveyed by Zacks Investment Research were anticipating earnings of $1.74 per share. Analysts expected $3.81 billion, according to Zacks.

  • WASHINGTON, Jan 15- U.S. producer prices in December recorded their biggest fall in more than three years on tumbling energy costs while underlying inflation pressures were tame, a cautionary note for the Federal Reserve as it ponders its next step on monetary policy. The Labor Department said on Thursday its producer price index for final demand declined 0.3...

  • Jan 15- BlackRock Inc, the world's largest money manager, reported a higher-than-expected quarterly profit as assets under management increased. The 2014 net inflows represent a 55 percent jump from the prior year and a record for BlackRock. "While the magnitude of the flows was quite large, it is the composition of the flows that was really interesting,"...

  • BlackRock's earnings beat Wall Street estimates Thursday, 15 Jan 2015 | 7:44 AM ET
    Larry Fink, Chairman and CEO of BlackRock.

    BlackRock, the world's largest money manager, reported a higher-than-expected fourth-quarter profit as assets under management increased.

  • Jan 15- BlackRock Inc, the world's largest money manager, reported a higher-than-expected fourth-quarter profit as assets under management increased. Of the $87.8 billion that investors poured into BlackRock's long-term funds during the quarter, half went into the iShares exchange-traded fund business, which ended the quarter with $1 trillion.

  • "There are concerns about global growth, but the fundamentals for the U.S. economy are very solid and what's going on overseas should only be a minor drag," said Gus Faucher, a senior economist at PNC Financial Services in Pittsburgh. The National Federation of Independent Business said its Small Business Optimism Index increased 2.3 points to 100.4 last month,...

  • NEW YORK, Jan 9- Investors with sizeable gains from the dollar's strong move upward in recent weeks sold the greenback to capture profits on Friday despite a solid U.S. jobs report that bolstered the case for the Federal Reserve to raise U.S. interest rates later this year. "It looks like some trimming of positions heading into the weekend, but the strong dollar is...

  • Regional banks, commodity stocks show signs of life Wednesday, 31 Dec 2014 | 10:03 AM ET
    Traders work on the floor of the New York Stock Exchange, Oct. 29, 2014.

    An ETF that tracks regional banks is outperforming the S&P 500 in December, and commodity stocks have rebounded in the last week.

  • WASHINGTON, Dec 23- The U.S. economy grew at its quickest pace in 11 years in the third quarter, the strongest sign yet that growth has decisively shifted into higher gear. "After four years of rocky recovery the U.S. economy is now hitting its stride... and growth should remain good next year, with lower gasoline prices a big plus for consumers," said Gus Faucher, a senior...

  • RIO DE JANEIRO, Dec 19- Brazil's jobless rate edged higher in November and surpassed forecasts, a sign the labor market is weakening as Latin America's largest economy stagnates. Brazil's non-seasonally adjusted jobless rate rose to 4.8 percent in November from 4.7 percent in October, statistics agency IBGE said on Friday. Although the unemployment rate...

  • *Private payrolls rise by 208,000 in November. WASHINGTON, Dec 3- U.S. private companies added workers at a fairly brisk clip in November and the services. "With all of the talk about a recession in Japan, possible recession in the euro zone and in Russia, the U.S. economy is looking much more attractive," said Jennifer Lee, a senior economist at BMO Capital Markets in New...

  • Sorry, Iran—lower oil prices are a win for America Wednesday, 3 Dec 2014 | 10:48 AM ET
    The U.S. flag is displayed at Tesoro's oil refinery in Los Angeles, Calif.

    Americans really need to stop feeling bad for countries like Iran over lower prices, says hedge-fund manager Todd Schoenberger. It's a win for America!

  • BEIJING, Nov 18- China's home prices fell in October by the most since 2011, Reuters calculations show, in spite of government support measures to try to end a national downturn that threatens to stifle economic growth. "China's housing market is still on the way down in its correction," said Bill Adams, senior international economist for PNC Financial Services...

  • BEIJING, Nov 18- China's home prices slumped an annual 2.6 percent in October, shrugging off a range of government support measures in a nationwide downturn that threatens to stifle economic growth. News of slowing foreign direct investment rubbed salt in the house price wound, with overseas investment down 1.2 percent in the January-October period from a...

  • How to fix securities class actions? Ask shareholders Thursday, 6 Nov 2014 | 3:46 PM ET
    U.S. Supreme Court Building in Washington, D.C.

    Perhaps it's time for shareholders to take matters into their own hands when it comes to securities class actions, says M. Todd henderson and Adam Pritchard.

  • Did this just change the game for muni investors? Thursday, 6 Nov 2014 | 9:51 AM ET
    Cars drive down Grand River Avenue in Detroit with the city's skyline in the background.

    Recent bankruptcy proceedings in Detroit and elsewhere should raise a giant warning flag for investors, says UBS's head of muni investing.

  • Beware: A poisoned stock market in 2015 Tuesday, 4 Nov 2014 | 3:30 PM ET

    The short-term result of the election may be bullish for the market but we are headed for dangerous times, says hedge-fund manager Todd Schoenberger.

  • Ask a hedge-fund guy: Will the economy collapse? Monday, 3 Nov 2014 | 1:01 PM ET

    Hedge-fund manager Todd Schoenberger takes your questions. The first one is from a "Janet Y" in Washington, DC ...