- JOHANNESBURG (Reuters) - South Africa's rand fell for a second day on Thursday after Finance Minister Pravin Gordhan cut economic growth forecasts and predicted wider budget deficits in his mid-term budget. * Rand at 13.9575 versus the greenback by 0640 GMT, 0.47 percent weaker than Wednesday's close of 13.89. * "The immediate outlook is not clear given remaining uncertainty, now that the medium term budget policy statement is out the way, focus will shift to next week's court appearance by Gord
- HELSINKI (Reuters) - Finnish MP Mika Lintila from the co-ruling Centre party has been named as the country's new Minister of Economic Affairs, Prime Minister Juha Sipila told reporters on Thursday. Lintila will take the minister post in January 2017 after Olli Rehn, the former top economic official of the European Union, leaves the three-party coalition government to join the board of the Bank of Finland. Lintila, 50, is a five-term member of the parliament and member of its finance committee. (
- By Dasha Afanasieva and Rachel Armstrong LONDON (Reuters) - Software company Misys has abandoned plans to list on the London stock market, blaming shaky market conditions and adding to a run of aborted flotations in recent weeks. Misys is the largest of a series of initial public offerings (IPOs) to be pulled or postponed in Europe amid investor caution about pricing and the outlook for markets. The company said earlier this month it had hoped to raise around 500 million pounds from its IPO and
- LONDON (AP) — Barclays says earnings from its core operations fell 73 percent in the third quarter as it took a 320 million-pound ($392 million) charge for bad debts in its U.S. and U.K. credit card businesses.
- ** Shares in Qatar's Gulf International Services drop 3.6 percent to 32.50 riyals ** Company reported 87 percent fall in third-quarter net profit to 28.3 million riyals ($7.8 million); QNB Financial Services had forecast 78.2 million riyals ** Major technical support on April and May lows of 32.45-32.60 riyals ** Qatar stock index rises 0.3 percent (Reporting by Andrew Torchia)
- HONG KONG (AP) — Stocks retreated in most Asian markets on Thursday as investors assessed a fresh round of corporate earnings from major companies across the region.
- ** Shares in Abu Dhabi's First Gulf Bank rise 2.3 percent to 11.10 dirhams in opening minutes ** Bank reported rise in third-quarter net profit to 1.86 billion dirhams ($507 million) from 1.42 billion dirhams, partly because of gains from real estate sales; average forecast of analysts was for 1.37 billion dirhams ** But it booked 32 percent rise in provisions for bad loans ** Stock had dropped to nine-month low in weeks before earnings announcement ** Minor technical resistance at 11.25 dirhams
- DUBAI, Oct 27 (Reuters) - Gulf stock markets may have a soft tone on Thursday as global markets sag, and after lacklustre earnings reports by some major United Arab Emirates and Qatari companies. MSCI's broadest index of Asia-Pacific shares outside Japan is down 0.9 percent, while Brent crude oil slumped about 1 percent to around $50 a barrel overnight. National Bank of Abu Dhabi posted a flat third-quarter net profit while First Gulf Bank reported a rise to 1.86 billion dirhams ($507 million) f
- Deutsche Bank posted an unexpected net profit of 278 million euros (248 million pounds) in the third quarter as it benefited from a surge in bond trading that boosted all Wall Street banks' earnings. Deutsche Bank hiked the amount of money it has set aside to cover the legal bill for its numerous missteps of the past. "Discussions with the DOJ (Department of Justice) to resolve its investigation of Deutsche Bank’s pre-financial crisis RMBS business are ongoing," Deutsche Bank said in a pre
- Profit growth in China's industrial firms slowed sharply as some key manufacturing sectors stumbled on weak activity and rising debt, suggesting the world's second-biggest economy remains underpowered despite emerging signs of stability. The September data from National Bureau of Statistics (NBS) underlined the daunting task facing policy makers as the nation's vast manufacturing industry grapples with slack demand, overcapacity and ballooning debt. The official also cautioned about rising debt
- * Sterling slips, awaits U.K. GDP data later on Thursday(Updates prices, adds comments)
- (Refiles with working link to ministry website)TOKYO, Oct 27 (Reuters) - Foreign investors remained net buyers of Japanese
stocks for the week ending on October 22, capital flows data showed on...
- * Owens-Illinois Inc.: OI European Group B.V. launches
private offering of 600 million euros of senior notes
- NEW YORK: Chinese package delivery company ZTO Express said it raised US$1.4 billion in the biggest US initial public offering of the year on Wednesday as its backers cashed in on China’s booming online-shopping industry. The stock market debut, the biggest by a Chinese company since the US$25 billion IPO of e-commerce giant Alibaba Group Holding Ltd in 2014, gave the Shanghai-based company a market value of more than US$12 billion. The company wants to use US$720 million of its IPO procee
- TOKYO, Oct 27 (Reuters) - Japanese government bond prices
slipped on Thursday with the market tracking an overnight
retreat by U.S. Treasuries.
- TOKYO (Reuters) - Asian shares extended losses on Thursday after disappointing earnings from technology giant Apple dragged on Wall Street, while the dollar remained shy of this week's nearly nine-month highs.
- TOKYO, Oct 27 (Reuters) - Asian shares extended losses on
Thursday after disappointing earnings from technology giant
Apple dragged on Wall Street, while the dollar remained shy of
this week's nearly...
- Profit growth in China's industrial firms slowed in September from the previous month's rapid pace as several sectors showed weak activity, suggesting the world's second-biggest economy remains underpowered despite emerging signs of stability. Profits in September rose 7.7 percent to 577.1 billion yuan, slowing sharply from August's 19.5 percent jump, according to data released by the National Bureau of Statistics (NBS) on its website on Thursday. The August profit growth marked the fastest pace
- MEXICO CITY, Oct 26 (Reuters) - Mexico's Senate on Wednesday
approved the 2017 budget revenue plan, paving the way for
President Enrique Pena Nieto to sign it into law and fund the
- MEXICO CITY, Oct 26 (Reuters) - Mexico's InvestaBank said on
Wednesday it had agreed to buy two Mexican units of Deutsche
Bank as the German lender exits non-core businesses
amid a drive to cut costs...
- NEW YORK, Oct 26 (Reuters) - Troubled hedge fund manager
Platinum Partners was ordered by a U.S. bankruptcy judge to
temporarily freeze approximately $118 million after a lawsuit
Wednesday accused it...
- MEXICO CITY, Oct 26 (Reuters) - Deutsche bank has
agreed to sell two Mexican subsidiaries to local rival
InvestaBank, a person familiar with the matter said on
Wednesday, as the German bank exits...
- By Lauren Hirsch NEW YORK (Reuters) - Chinese package delivery company ZTO Express raised $1.4 billion (1.14 billion pounds) in the biggest U.S. initial public offering of the year on Wednesday as its backers cashed in on China's booming online-shopping industry, a source familiar with the deal said. The stock market debut, the biggest by a Chinese company since the $25 billion IPO of e-commerce giant Alibaba Group Holding Ltd in 2014, gave the Shanghai-based company a market value of more than
- Asian shares edged down on Thursday after disappointing earnings from technology giant Apple dragged on Wall Street, while the dollar remained shy of this week's nearly nine-month highs. The S&P 500 and the Nasdaq Composite both skidded, though a standout performance by Boeing lifted the Dow Jones industrial average. Expectations for a year-end rate hike by the Federal Reserve remained intact, and bolstered the greenback.
- * Wall Street provides mixed incentive on earnings
- * USD/JPY inches back towards 3-mth high as Treasury yields
- * Unit entered into bankruptcy pursuant to chapter 7 of
United States bankruptcy codeSource text for Eikon:Further company coverage:
- * Priced an offering of $125 million of 4.25 percent
convertible senior notes due 2022Source text for Eikon:Further company coverage:
- WILMINGTON, Del., Oct 26 (Reuters) - A Delaware judge on
Wednesday ordered Lynn Tilton's Patriarch Partners to turn over
documents detailing the complex holdings of $2.5 billion
distressed debt funds...
- Chancellor Philip Hammond should encourage businesses to invest and spend more on infrastructure when he delivers his first budget statement since Britain's vote to leave the European Union, an employers group said. The Confederation of British Industry urged Hammond to boost public investment to 2 percent of economic output, or an increase of around 6 billion pounds a year, when he delivers his Autumn Statement on Nov. 23. "Amid economic uncertainty, it's important that the government does what
- SAO PAULO, Oct 26 (Reuters) - BNDESPar, the
equity arm of Brazil's state lender BNDES, vetoed a proposed
reorganization of meatpacking company JBS claiming
"it is not in the best interest of the...
- Demand from British businesses for commercial property has partly recovered from its slump after June's vote to leave the European Union and foreign investors are looking to take advantage of the weak pound, industry data showed on Thursday. Several major property funds halted investors from withdrawing their investments in July, making the sector the most visible casualty of the Brexit vote. RICS Chief Economist Simon Rubinsohn said a rebound in demand for property by firms seeking space for th
- The $244 billion fund manager relocates senior Emea executive to US for top trading role
- Deal was being managed by investment bankers at Goldman Sachs, Bank of America Merrill Lynch, JP Morgan and Morgan Stanley
- ANALYSIS: Standard Life has received independent backing for its contention that its megafund's poor performance this year isn't down to its size
- German bank follows Wall Street rivals with rates revenues driving a sales and trading upturn, while origination buoys banking
- Corporate and investment banking profits more than double versus a year ago as third-quarter revenues from credit surge
- Faced with richly valued stocks and bonds, investors are turning to private equity firms for higher returns
- One of the UK's best-performing equities managers thinks markets might be heading back to the future – but questions if people know
- A New York lawyer has been criminally charged with failing to report to the Internal Revenue Service more than $3 million of fee income from tax shelter and other transactions he handled at the law firm Herrick Feinstein, where he led the tax practice. According to an indictment made public on Wednesday, Harold Levine diverted the money from Herrick Feinstein with the help of Ronald Katz, a certified public accountant who hid from the IRS more than $1.2 million he received for his involvement.
- By Susan Taylor TORONTO (Reuters) - Barrick Gold Corp , the world's largest producer of bullion, reported a bigger quarterly profit on Wednesday, reflecting higher gold prices and lower costs, while cutting its 2016 production costs and lifting its output. Toronto-based Barrick, which has been selling off non-core assets and using cash flow to pay down debt, said profits were lifted by lower fuel and energy costs, smaller exploration and project spending, foreign exchange gains and the sale of h
- Barrick Gold Corp , the world's largest producer of bullion, reported a bigger quarterly profit on Wednesday, reflecting higher gold prices and lower costs, while cutting its 2016 production costs and lifting its output. Toronto-based Barrick reported adjusted earnings of $278 million, or 24 cents per share, in the three months to end-September. Analysts on average had expected the company to earn 20 cents a share, according to Thomson Reuters I/B/E/S. Barrick, which has mines in the Americas, A
- Belgian politicians failed to break their deadlock over a planned EU-Canada free trade agreement on Wednesday, but agreed to resume talks on Thursday in a sign they may be nearing a consensus that would keep the deal alive. The Comprehensive Economic and Trade Agreement (CETA), seven years in the making, is backed by all 27 other EU governments but rejected by the French-speaking south of Belgium, meaning Belgium as a whole cannot sign it. Prime Minister Charles Michel worked with the heads of B
- Salesforce.com Inc Chief Executive Marc Benioff spoke on Wednesday about a pair of key acquisitions that got away, suggesting his vision for LinkedIn was different from Microsoft's and that he would have pursued Twitter if shareholders had not learned of his plans Speaking at a technology conference hosted by the Wall Street Journal in Laguna Beach, Calif., Benioff declined to elaborate on what he had hoped to do with micro-blogging site Twitter Inc. Twitter hired bankers earlier in October to e
- Sinking oil and falling Apple caused most world stock markets to retreat Wednesday, although strong Boeing results supported the Dow.
- Salesforce.com Inc Chief Executive Marc Benioff spoke on Wednesday about a pair of key acquisitions that got away, suggesting his vision for LinkedIn was different from Microsoft's and that he would have pursued Twitter if shareholders had not learnt of his plans Speaking at a technology conference hosted by the Wall Street Journal in Laguna Beach, Calif., Benioff declined to elaborate on what he had hoped to do with micro-blogging site Twitter Inc. Twitter hired bankers earlier in October to ex
- By Alastair Sharp TORONTO (Reuters) - Canada's main stock index fell on Wednesday as energy shares followed oil prices lower, a small financial technology company plunged after missing earnings expectations, and Canadian National Railway Co weighed after its revenue dipped. The country's largest railway shed 3.8 percent to C$84.30 after its quarterly revenue fell as it moved lower volumes of crude oil, coal and fracking sand. The industrials group lost 1.4 percent overall, while the technology g
- By Hilary Russ NEW YORK (Reuters) - Apple's results weighed on U.S. stock prices on Wednesday after the technology giant posted its first annual revenue decline since 2001, while oil and gold prices slipped. Apple , the world's largest company by market capitalisation, fell 2.2 percent after it acknowledged strong demand for its iPhone 7 Plus caught the company off-guard and it was struggling to keep up with demand. The technology giant pulled down the S&P 500 stock index and Nasdaq, but gai
- The Chicago Board of Education gave final approval on Wednesday to the sale of up to $1 billion of new and refunding bonds for the junk-rated district. The third-largest public school system in the United States will sell up to $840 million of general obligation bonds through Barclays and JP Morgan Securities to fund capital improvements using a $45 million property tax hike approved by the Chicago City Council last year. Emily Bittner, a Chicago Public Schools (CPS) spokeswoman, said earlier th
- Quarterly results were the main driver for Wall Street on Wednesday as a decline in Apple shares weighed on the S&P 500 and Nasdaq, while the price-weighted Dow Industrials was buoyed by gains in Boeing. Apple , the world's largest exchange-traded company, fell 2.2 percent after it acknowledged that strong demand for its iPhone 7 Plus caught the company off-guard and it was struggling to keep up. On the other hand, Boeing shares hit their highest level since Dec. 31 after the planemaker repo
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