Financial news

• UPDATE 1-US candidate Sanders takes aim at Wall Street, Clinton in speech

  05-01-2016 23:02
  
  WASHINGTON, Jan 5 (Reuters) - U.S. Democratic presidential candidate Bernie Sanders warned on Tuesday that financial-sector greed was "destroying the fabric of our nation" and said the starting point of any Wall Street reform effort is breaking up "too big to fail" banks.
  
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• Win or lose, Sainsbury's boss Mike Coupe has marked himself out as a man of action

  05-01-2016 22:43 via telegraph.feedsportal.com
  
  Mike Coupe has shown he is not going to be a bystander in the retail war
  
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• JPMorgan names Virtu Financial as its NYSE market maker

  05-01-2016 22:31
  
  Jan 5 (Reuters) - JPMorgan Chase & Co said on Tuesday it appointed Virtu Financial Inc as its market maker on the floor of the New York Stock Exchange.
  
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• UPDATE 1-FINRA orders Wall St. brokerages to return $96.2 mln for 2015

  05-01-2016 22:27
  
  Jan 5 (Reuters) - Wall Street's industry funded watchdog ordered brokerages to return an estimated $96.2 million in funds they obtained through misconduct during 2015, nearly three times the 2014 total, according to preliminary statistics released on Tuesday.
  
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• Former Nigerian defence minister charged with money laundering

  05-01-2016 22:25
  
  ABUJA, Jan 5 (Reuters) - Nigeria's former defence minister has been charged with money laundering and criminal breach of trust over 300 million naira ($1.5 million) intended for defence spending, the financial crimes agency said on Tuesday.
  
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• If China stumbles again, so will stock markets, warns IMF chief economist

  05-01-2016 22:12 via telegraph.feedsportal.com
  
  'The global spillovers from China's reduced rate of growth ... have been much larger than we would have anticipated,' says Maurice Obstfeld
  
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• Message apps pose growing risk for China securities regulator

  05-01-2016 22:00
  
  * Regulations require reliable monitoring, recording of trades
  
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• UPDATE 3-Wall St. watchdog homes in on high-frequency trades to combat spoofing

  05-01-2016 21:48
  
  Jan 5 (Reuters) - Wall Street's industry-funded watchdog is ramping up its scrutiny of high-frequency trading firms as efforts to manipulate U.S. markets through the technology grow more sophisticated, the regulator's chief said on Tuesday.
  
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• TREASURIES-Long-dated yields rise on less global growth jitters

  05-01-2016 21:45
  
  * Long-dated yields rise on growing calm * Traders look ahead to Friday's U.S. jobs data * Medium-dated yields dip on Fed rate hike views * Corporate bond supply resumes after record 2015 (Updates market action to late afternoon) By Sam Forgione NEW YORK, Jan 5 (Reuters) - Long-dated U.S. Treasury yields rose on Tuesday as worries eased over global growth, leading traders to sell some safe-haven U.S. government debt, while caution ahead of Friday's U.S. jobs data kept yield
  
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• Argos and its online delivery the main prize for Sainsbury's

  05-01-2016 21:31 via telegraph.feedsportal.com
  
  The Home Retail Group approach shows Mike Coupe has been bolder than many thought possible in his attempt to reinvent the supermarket
  
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• UPDATE 1-Automakers, not Silicon Valley, lead in driverless car patents - study

  05-01-2016 21:29
  
  LAS VEGAS, Jan 5 (Reuters) - Automakers, not technology companies, are in the driver's seat in developing self-driving, "autonomous" cars, and Japan's Toyota Motor Corp is best positioned to lead the way, according to a new report on patents for the fast-evolving technology.
  
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• Bradesco says Brazil central bank approves purchase of HSBC unit

  05-01-2016 21:19
  
  SAO PAULO, Jan 5 (Reuters) - Banco Bradesco SA, Brazil's No. 2 private-sector bank, said the country's central bank approved on Tuesday the acquisition of the local unit of HSBC Holdings Plc.
  
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• Britain will thrive after it throws off the shackles of the EU

  05-01-2016 21:18 via telegraph.feedsportal.com
  
  Europe is in economic decline, dragged down by the folly of the euro. We need to take back control
  
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• U.S. presidential candidate Sanders says he would reform the Fed

  05-01-2016 21:17
  
  WASHINGTON, Jan 5 (Reuters) - U.S. Democratic presidential candidate Bernie Sanders on Tuesday said he would restructure the Federal Reserve if he is elected in November 2016.
  
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• Sainsbury's bid could spell break up of Home Retail

  05-01-2016 21:15 via telegraph.feedsportal.com
  
  Bid approach was rejected in November and Britain's second biggest supermarket is now considering its options
  
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• UPDATE 3-HSBC says access to online banking service resuming steadily after outage

  05-01-2016 20:59
  
  * Second day of technical problems for online banking services
  
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• UPDATE 1-Ambac pays out $10.3 million on Puerto Rico default

  05-01-2016 20:58
  
  SAN JUAN, Jan 5 (Reuters) - Puerto Rico's latest default meant a $10.3 million hit for Ambac Financial, which insures some of the debt the island's infrastructure authority PRIFA failed to pay on Monday.
  
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• Swift Energy gets loan approval from U.S. bankruptcy court

  05-01-2016 20:20
  
  WILMINGTON, Del., Jan 5 (Reuters) - Swift Energy Co received U.S. bankruptcy court approval on Tuesday to borrow up to $15 million, giving the oil-and-gas exploration company time to negotiate a refinancing deal that is key to its turnaround.
  
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• UPDATE 1-JPMorgan fined $48 mln for failures in U.S. robo-signing settlement

  05-01-2016 19:51
  
  WASHINGTON, Jan 5 (Reuters) - JPMorgan Chase has been fined $48 million for failing to meet terms of a settlement to resolve mortgage servicing violations, U.S. bank regulators said on Tuesday.
  
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• Questor share tip: Three questions that Mike Ashley needs to answer at Sports Direct

  05-01-2016 19:51 via telegraph.feedsportal.com
  
  Sports Direct owner Mike Ashley needs to improve the disclosure or shareholders will suffer, says Questor
  
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• Volkswagen 'asks for more time' to provide emissions data

  05-01-2016 19:45 via telegraph.feedsportal.com
  
  German car maker was meant to submit CO2 information by the end of 2015
  
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• AT&T steps up 'smart cities' push, to offer more services

  05-01-2016 19:42
  
  NEW YORK, Jan 5 (Reuters) - AT&T Inc will expand its smart city services to help municipal authorities remotely monitor conditions of roads and bridges in real time and give citizens mobile apps to stay informed about things like traffic and safety problems, the company said on Tuesday.
  
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• British production firms spend big on 'vintage lenses' to profit from period drama boom

  05-01-2016 19:25 via telegraph.feedsportal.com
  
  Investment in analog technology is up more than 1,500pc because digital picture 'too crisp'
  
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• Tesco shares rally after Deutsche Bank's change of heart

  05-01-2016 19:06 via telegraph.feedsportal.com
  
  Shares in Tesco advanced after a rating upgrade, while the FTSE 100 bounced back from sharp losses
  
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• Whatever happened to the American dream? Unfortunately, it got Trumped

  05-01-2016 19:05 via telegraph.feedsportal.com
  
  The perception that American progress has ground to a halt has proved fertile political territory for Trump. But it couldn't be further from the truth
  
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• JPMorgan fined $48 mln for failures in U.S. robo-signing settlement

  05-01-2016 19:03
  
  WASHINGTON, Jan 5 (Reuters) - JPMorgan Chase has been fined $48 million for failing to meet terms of a settlement to resolve mortgage servicing violations, U.S. bank regulators said on Tuesday.
  
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• China ramps up emergency stock market intervention

  05-01-2016 19:00 via telegraph.feedsportal.com
  
  Authorities buy shares, inject liquidity and extend selling ban in the wake of renewed stock turmoil
  
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• China escalates emergency stock market intervention

  05-01-2016 19:00 via telegraph.feedsportal.com
  
  Authorities buy shares, inject liquidity and extend selling ban in the wake of renewed stock turmoil
  
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• Automakers, not Silicon Valley, lead in driverless car patents - study

  05-01-2016 19:00
  
  LAS VEGAS, Jan 5 (Reuters) - Automakers, not technology companies, are in the driver's seat in developing self-driving, "autonomous" cars, and Japan's Toyota Motor Corp is best positioned to lead the way, according to a new report on patents for the fast-evolving technology.
  
  Read more

• Harvey Nichols plans 'aggressive' refurb after profits halve

  05-01-2016 18:49 via telegraph.feedsportal.com
  
  The luxury department store invested heavily in stores and new technology last year, its first under new boss Stacey Cartwright
  
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• City regulator expected to examine Home Retail share trading

  05-01-2016 18:45 via telegraph.feedsportal.com
  
  Shares in the Argos-owner leapt by almost 16pc during morning trade, before Sainsbury's revealed it had made a takeover approach
  
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• European shares end higher as mining, telecoms stocks gain

  05-01-2016 18:40
  
  * Next shares fall after trading update (Adds details, closing prices)
  
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• UK's biggest boatbuilder axes hundreds of jobs as recovery fails to materialise

  05-01-2016 18:17 via telegraph.feedsportal.com
  
  Exclusive: Princess Yachts cuts 350 of its 2,000 staff as demand for luxury vessels fails to materialise in wake of financial crisis
  
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• HSBC apologises for leaving customers unable to access online accounts

  05-01-2016 18:05
  
  Bank says ‘complex technical issues’ affecting millions is taking longer to fix than it should, amid growing calls for a full explanationHSBC has apologised after it left millions of customers unable to log into their online accounts for a second day, amid growing calls for a full explanation. Millions of the bank’s personal and business customers first found themselves locked out of their online accounts on Monday. The problems have continued into a second day, leaving a trail
  
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• Star manager Hugh Hendry under fire for 'heads I win, tails you lose' performance fee

  05-01-2016 17:34 via telegraph.feedsportal.com
  
  A complicated performance fee means any gains above 1.25pc a year will see Hugh Hendry take more from investors
  
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• London mayor race: fares must be starting point of big transport debate

  05-01-2016 17:23
  
  The next boss of City Hall should offer a broad, coherent vision of public transport’s role in London’s future and Londoners’ livesTwo mayoral candidates have made bold New Year pledges to lessen the cost of traveling round the capital aboard its lifeblood public transport modes. Labour’s Sadiq Khan, who looks to have edged ahead in the race for City Hall, has restated his promise to freeze fares across the board throughout a four-year term and to lower the price burden o
  
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• Moshi Monsters maker Mind Candy fears for future as debt repayments loom

  05-01-2016 17:11 via telegraph.feedsportal.com
  
  Developer once touted as IPO candidate seeks to delay bills as kids turn away from hit game
  
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• Brevan Howard hikes pay for its British traders

  05-01-2016 16:51 via telegraph.feedsportal.com
  
  Hedge fund manager's London office delivered a strong performance before the summer's market rout
  
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• Luxury pudding maker Pots & Co flies high with British Airways deal

  05-01-2016 15:54 via telegraph.feedsportal.com
  
  Revenues at the brand, which makes the most expensive desserts on supermarket shelves, to top £8m this year
  
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• Will these finance stories return to haunt us in 2016?

  05-01-2016 15:29 via telegraph.feedsportal.com
  
  From Black Monday to Black Friday (via Greece's debt crisis, China's stock market crash and the oil price rout), we rank the 15 most popular finance stories of 2015 by page views
  
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• Is this bold move for Home Retail Group Mike Coupe's way of future-proofing Sainsbury's?

  05-01-2016 15:05 via telegraph.feedsportal.com
  
  The Sainsbury's chief executive is showing there could be merit in first mover advantage
  
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• Cambridge and Milton Keynes to lead UK growth in 2016

  05-01-2016 15:01 via telegraph.feedsportal.com
  
  Good transport links and strong growth in advanced engineering expected to keep cities growing faster than London in 2016
  
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• Rollercoaster day for European stock markets after worst new year start in 16 years

  05-01-2016 14:56 via telegraph.feedsportal.com
  
  European bourses swung between gains and losses, after Chinese shares stabilised following a mass sell-off on Monday
  
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• Faraday Future looks to take on Tesla with Batmobile-inspired cars

  05-01-2016 14:36 via telegraph.feedsportal.com
  
  Chinese-backed electric car group Faraday Future reveals concept electric car as it sets its sights on Tesla
  
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• Tory peer condemns his party's 'attack on buy-to-let'

  05-01-2016 14:15 via telegraph.feedsportal.com
  
  Lord Flight, former Conservative Shadow Chief Secretary to the Treasury, slates the 'sudden attack' on landlords
  
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• A wholesale power grab: how the UK government is handing housing over to private developers

  05-01-2016 14:12
  
  The new housing and planning bill is a raft of dangerous measures that will increase inequality and solely benefit the private sector
  In any sane universe, something called the Housing and Planning Bill might safely be assumed to stimulate house building and improve planning. But the bill, which receives its third and final reading in the House of Commons today, does exactly the opposite of what it says on the tin. It will exacerbate the housing crisis and further enfeeble the planning system in
  
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• Britain's builders prepare for strong year as construction bounces back

  05-01-2016 14:08 via telegraph.feedsportal.com
  
  The sector will be called upon to repair and rebuild after widespread flooding in the north of England
  
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• Electra chief Hugh Mumford quits after 25 years as rebel shareholder vows to 'turn up the temperature'

  05-01-2016 14:02 via telegraph.feedsportal.com
  
  The private equity firm, which owns TGI Fridays, has been battling a campaign by activist investor Edward Bramson
  
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• Electra chief Hugh Mumford quits after 25 years

  05-01-2016 14:02 via telegraph.feedsportal.com
  
  The private equity firm, which owns TGI Fridays, has been battling a campaign by activist investor Edward Bramson
  
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• Greece on a collision course with creditors after vowing not to slash pensions

  05-01-2016 14:00 via telegraph.feedsportal.com
  
  Athens maintains it will not cut pension spending as part of reforms demanded by the Troika
  
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