Financial news

• Market turmoil: Dow Jones falls 99 points after Yellen testimony - as it happened

  10-02-2016 23:39
  
  Fed chair has warned that turmoil in global financial markets could knock the US recovery, and hinted that interest rates will only rise gradually
  Latest: Dow falls, but S&P flatSummary: Yellen cautious, but not alarmingEarlier:European shares rallied, FTSE gained 40 pointsDeutsche Bank shares up, but problems remainAustralia dragged into bear market10.39pm GMTThat’s all for tonight, after another lively day. A quick reminder of the key points.Federal Reserve chair Janet Yellen has war
  
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• Thousands of older workers told to delay retirement until 'exit fee' cap in March

  10-02-2016 23:12 via telegraph.feedsportal.com
  
  Savers in their fifties and early sixties with extortionate early exit fees attached to their pensions could save thousands of pounds thanks to the cap
  
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• Twitter share price nosedives on news it is losing users

  10-02-2016 22:58
  
  Price of stock falls 13% in after-hours trading after hitting an all-time low earlier this week on news its number of monthly users has stopped growing entirelyTwitter lost users in the last three months, the company said on Wednesday, and the news sent share prices into a nosedive.Co-founder Jack Dorsey returned to lead the company last year and has shaken management to its core, laid off staff and instituted numerous changes to the service. So far his plans do not appear to be taking flight. C
  
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• Lebedevs locked in talks with Johnston Press to sell i newspaper for £24m

  10-02-2016 22:45 via telegraph.feedsportal.com
  
  Future of the Independent, Independent on Sunday and digital assets remains unclear
  
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• John Cryan: the Yorkshireman at the heart of Deutsche

  10-02-2016 21:58
  
  The British banking veteran must navigate the German financial giant through one of its worst crisesWhen John Cryan was named chief executive of Deutsche Bank last June, its shares leapt 8% on hopes that the Briton could revive the fortunes of the German institution.But the Yorkshireman’s honeymoon period has been very short - the bank’s shares have plunged 50% since he took charge. Continue reading...
  
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• National Lottery results: have your numbers won you £28.8m in tonight's draw?

  10-02-2016 21:44 via telegraph.feedsportal.com
  
  There was no outright winner on Saturday, so Wednesday's jackpot was a very tasty £28.8 million. Did you scoop the top prize?
  
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• Deutsche Bank: Germany's financial colossus stumbles

  10-02-2016 21:41
  
  After 146 years of solidity, the bank that came unscathed through the 2008 crisis is now the focus of investors’ fears for the banking systemDeutsche Bank fuelled Germany’s rise to the status of economic powerhouse, financing its industry in the 19th century and helping the country’s economy to rise again from the rubble of the second world war. It took on the giants of Wall Street in the postwar globalised economy and survived the 2008 banking crisis without a bailout.Such is
  
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• Black cabs bring central London to a halt in Uber protest

  10-02-2016 21:35
  
  (Reuters) - The drivers of London's famous black cabs brought the centre of the capital to a standstill on Wednesday in protest against Uber and government regulations they say compromise passenger safety.
  
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• David Cameron accused of failing UK steel after EU proposal rejected

  10-02-2016 21:07
  
  Sajid Javid said it would not be right to scrap EU lesser duty rule, which some countries want to do in order to allow higher tariffs on cheap Chinese steelDavid Cameron has been accused of failing the British steel industry after the government confirmed it was blocking proposals from other EU members to tackle dumping of cheap product by China.Sajid Javid, the business secretary, said it would not be right for the EU to scrap regulations known as the “lesser duty rule”, which some
  
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• We'll have to get more inventive with this game of retail Top Trumps

  10-02-2016 20:26 via telegraph.feedsportal.com
  
  The City is already asking who will be involved in the next round of retail M&A
  
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• National Lottery: What time is Wednesday's Lotto draw and will your numbers come up?

  10-02-2016 20:09 via telegraph.feedsportal.com
  
  There was no outright winner on Saturday, so tonight's jackpot will be a very tasty £28.8 million. Here's everything you need to play and watch the draw
  
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• BP: it's up to politicians to tackle climate change

  10-02-2016 20:02 via telegraph.feedsportal.com
  
  BP's Bob Dudley backs plans for a global carbon price and cutting coal, but warns against relying on renewables
  
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• Swansea Bay tidal lagoon plan hit by fresh delay

  10-02-2016 19:51 via telegraph.feedsportal.com
  
  Government commissions new review into "untested" tidal energy technology, deferring decision on subsidies for Swansea project
  
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• Harry Potter returns in '8th story' script of London play

  10-02-2016 19:48
  
  Nine years after publication of the last novel in the best-selling series about the boy wizard, what has been billed as the "epic 8th Harry Potter story" will be published worldwide in July.
  
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• Former Barclays exec Rich Ricci lands chairman job at FreemarketFX

  10-02-2016 19:48 via telegraph.feedsportal.com
  
  The horseracing fan and ex-investment bank chief has also taken the reins at online bookies BrightBet
  
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• EU-UK deal 'very fragile' but Tusk hopeful for summit

  10-02-2016 19:42
  
  BRUSSELS (Reuters) - Negotiations between London and other EU states to help keep Britain in the European Union are "very fragile", European Council President Donald Tusk said on Wednesday, though he said he still hoped for a deal at a EU summit next week.
  
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• Questor share tip: Discount UK banking shares come with plenty of risk

  10-02-2016 19:41 via telegraph.feedsportal.com
  
  Shares in FTSE 100 listed banks RBS, Lloyds, HSBC, Barclays and Standard Chartered are trading at extreme discounts, but investors should proceed with caution, says Questor
  
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• FTSE 100 overcomes jitters after Fed fails to come to the rescue

  10-02-2016 19:26 via telegraph.feedsportal.com
  
  Market Report: Wild Wednesday for Hikma shares as pharma group slashes offer price for Roxane
  
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• There's a bitter cocktail of concerns swirling around Europe's banks

  10-02-2016 19:04 via telegraph.feedsportal.com
  
  The exact blend of concerns varies from bank to bank depending on the clients and markets to which they are exposed, their funding structure and their business model
  
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• France rules out special treatment for UK financial institutions - Reuters

  10-02-2016 19:03
  France rules out special treatment for UK financial institutions
  Reuters
  PARIS Feb 10 An EU reform package aimed at persuading Britons to stay in the European Union must not give special treatment to London as a financial centre, French Finance Minister Michel Sapin said on Wednesday. European Council President Donald ...en meer »
  

• 'I would not want to be a cancer patient in England' says Pfizer boss

  10-02-2016 19:01 via telegraph.feedsportal.com
  
  The managing director of Pfizer's UK operations said government proposals to change the way the cancer drugs fund operates will end up failing patients
  
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• No relief for embattled steel industry on trade tariffs

  10-02-2016 18:14 via telegraph.feedsportal.com
  
  Trade tariffs on Chinese steel are unlikely to be raised says business secretary as Britain's industry battles a flood of subsidised imports
  
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• Sunderland's Johnson admits one count of sexual activity with child

  10-02-2016 17:56
  
  LONDON (Reuters) - England international Adam Johnson pleaded guilty to one count of sexual activity with a child, but denied two other charges, when he appeared at Bradford Crown Court on Wednesday.
  
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• Zika alarm sparks run on supply of scientific virus samples

  10-02-2016 17:50
  
  LONDON (Reuters) - Porton Down, the British government centre famous for its Cold War germ warfare research, said on Wednesday it was working hard to keep up with demand for Zika virus samples as scientists around the world scramble for them.
  
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• Lloyd's of London says Brexit would hamper its global business

  10-02-2016 17:44 via telegraph.feedsportal.com
  
  Insurance market says a vote to leave the EU would create barriers to customers but no 'regulatory nirvana'
  
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• Russian oil giant hits out at Opec price war

  10-02-2016 17:30 via telegraph.feedsportal.com
  
  The Rosneft boss has slammed the cartel for playing an 'irresponsible game' with oil prices
  
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• Murder victims' families sue HSBC over drug gang money laundering

  10-02-2016 17:25 via telegraph.feedsportal.com
  
  The bank says it will fight claims that its failures to stop drug dealers laundering the proceeds of crime make it liable to pay compensation to victims
  
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• Japan's Asahi swoops on Peroni and Grolsch beers

  10-02-2016 17:23 via telegraph.feedsportal.com
  
  The Tokyo-based brewer is buying Peroni, Grolsch and British craft brewer Meantime in a £2bn deal
  
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• 'Where can my grandson put his £2,378 for the best return?'

  10-02-2016 17:13 via telegraph.feedsportal.com
  
  Ask an expert: This reader's grandson has a five-year bond that is about to mature and is looking for the best place to reinvest
  
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• Airline pilot facing £300,000 penalty over pension scam

  10-02-2016 17:08 via telegraph.feedsportal.com
  
  After being conned into a scheme that proved to be too good to be true, Jeremy Donaghy-Sutton has seen his dreams of early retirement scuppered
  
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• How the cost of a funeral has soared 90pc

  10-02-2016 17:07 via telegraph.feedsportal.com
  
  The price of a send-off has been pushed above £8,000
  
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• UPDATE 1-FBI arrests race car driver in massive payday lending scheme

  10-02-2016 16:56
  
  NEW YORK, Feb 10 (Reuters) - A professional race car driver was arrested by the FBI on Wednesday after U.S. regulators previously accused him of engaging in a massive scheme to deceive payday lending customers, a spokeswoman for the bureau said.
  
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• Markets rule out UK interest rate rise until end of decade

  10-02-2016 16:50 via telegraph.feedsportal.com
  
  Stock markets now believe there is a 50pc chance the Bank of England will cut rates this year
  
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• CANADA STOCKS-TSX rises as financials recover, but energy and mining stocks drag

  10-02-2016 16:47
  
  TORONTO, Feb 10 (Reuters) - Canada's main stock index rose on Wednesday as financial stocks clawed back some losses from the start of the week, offsetting energy and mining stocks that slid as crude oil prices fell.
  
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• Sovereign funds' selling could hit $700 bln of European stocks

  10-02-2016 16:46
  
  LONDON, Feb 10 (Reuters) - Up to $700 billion of European stocks, including major banks, could be in the firing line as the slump in oil prompts some producer countries' sovereign wealth funds to offload investments.
  
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• UPDATE 1-Fed's Fischer worried by emergency credit reporting rules

  10-02-2016 16:40
  
  WASHINGTON, Feb 10 (Reuters) - A top Federal Reserve policymaker on Wednesday expressed concern that U.S. reforms enacted after the global financial crisis may have made it harder to stem a credit market panic, a warning that came amid growing stress in corners of the banking sector.
  
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• Tesco takes full ownership of artisan coffee chain Harris + Hoole

  10-02-2016 16:35 via telegraph.feedsportal.com
  
  The UK's largest grocer continues to bet on non-supermarket ventures
  
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• FTSE 100 overcomes jitters after Fed fails to come to the rescue - live

  10-02-2016 16:33 via telegraph.feedsportal.com
  
  European stock markets rebound from two-year lows, buoyed by a recovery in banking stocks, while Australia enters bear market territory
  
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• Russia considers drastic steps to plug finances hit by tumbling oil

  10-02-2016 16:23
  
  * With easy options gone, officials considering risky measures
  
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• UPDATE 1-Fed's Yellen says global risks could pose U.S. growth threat

  10-02-2016 16:14
  
  WASHINGTON, Feb 10 (Reuters) - Tightening financial conditions driven by falling stock prices, uncertainty over China and a global reassessment of credit risk could throw the U.S. economy off track from an otherwise solid course, Federal Reserve Chair Janet Yellen said on Wednesday in prepared testimony to Congress.
  
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• U.S. to indict racecar driver over payday lending scheme- source

  10-02-2016 16:03
  
  NEW YORK, Feb 10 (Reuters) - A professional racecar driver is expected to be criminally charged on Wednesday after U.S. regulators previously accused him of engaging in a massive scheme to deceive payday lending customers, a person familiar with the matter said.
  
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• RPT-GRAPHIC-Global bond yields slump to new lows -Citi

  10-02-2016 15:51
  
  LONDON, Feb 10 (Reuters) - Global government borrowing costs slumped to record lows this week as a combination of financial volatility, banking stress and slowing growth and inflation saw a flight to top-rated, liquid assets amid talk of ever lower interest rates.
  
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• Outgoing Waitrose boss Mark Price named new trade minister

  10-02-2016 15:51 via telegraph.feedsportal.com
  
  Supermarket chief missed out on chairman's role at Channel 4
  
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• UPDATE 1-Hungary central bank vehicle to start buying distressed bank assets

  10-02-2016 15:48
  
  BUDAPEST, Feb 10 (Reuters) - The vehicle set up by the National Bank of Hungary to buy up bad loans from banks will start purchasing assets after publishing the terms and conditions of the scheme later this month, the central bank said, after the plan was approved by European regulators.
  
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• FTSE 100 surrenders gains after Fed fails to come to the rescue - live

  10-02-2016 15:38 via telegraph.feedsportal.com
  
  European stock markets rebound from two-year lows, buoyed by a recovery in banking stocks, while Australia enters bear market territory
  
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• German train crash investigations focus on signal controller - source

  10-02-2016 15:22
  
  BERLIN/BAD AIBLING, Germany, Feb 10 (Reuters) - German investigations into a head-on train collision in Bavaria that killed ten people on Tuesday is focusing on the actions of a signals controller, a source involved in the investigations told Reuters on Wednesday.
  
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• Lord Turner: peer-to-peer crash will make 'bankers look like lending geniuses'

  10-02-2016 15:20 via telegraph.feedsportal.com
  
  Ex-regulator Lord Adair Turner predicted big losses in peer-to-peer lending, as the fledgling industry reacts with anger
  
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• UPDATE 2-Japan's Asahi confirms bid for SABMiller's Peroni, Grolsch brands

  10-02-2016 15:18
  
  * AB InBev seeking antitrust approval for SABMiller takeover (Updates after offer announcement)
  
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• Bank of Italy report highlights bank bond risk to households

  10-02-2016 15:10
  
  ROME, Feb 10 (Reuters) - Italian households hold nearly half of the 67 billion euros ($75.4 billion) of junior bonds sold by domestic banks, a Bank of Italy report showed, highlighting the risk to retail investors' savings in a banking crisis.
  
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• UPDATE 2-Health insurer Humana takes 4Q charge for 2016 individual losses

  10-02-2016 15:03
  
  Feb 10 (Reuters) - Health insurer Humana Inc, which is being bought by rival Aetna Inc, on Wednesday said that it had set aside 74 cents per share in the fourth quarter to cover anticipated shortfalls in its 2016 individual health plan business.
  
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