Financial news

• Sete Brasil shareholders may file for bankruptcy -sources

  19-02-2016 23:59
  
  SAO PAULO, Feb 19 (Reuters) - Shareholders of Sete Brasil Participações SA may file for bankruptcy protection if Brazilian state-controlled oil producer Petróleo Brasileiro SA, the rig builder's sole client, fails to present a final long-term lease contract in a week's time, two sources with direct knowledge of the matter said on Friday.
  
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• UPDATE 1-UK-EU deal preserves Britain's leeway on market regulations

  19-02-2016 23:57
  
  BRUSSELS, Feb 19 (Reuters) - European Union leaders reached a deal late on Friday that offers leeway to Britain in applying banking and markets' regulations, but maintains that there will be a single set of rules for the financial sector within the EU.
  
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• MOVES-UBS hires ECM, private equity bankers

  19-02-2016 23:54
  
  Feb 19 (Reuters) - UBS Group AG has hired Michael O'Donovan as a managing director in its Americas equity capital markets group and Adam Schwarzschild as an executive director in its financial sponsors group, according to an internal memo seen by Reuters.
  
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• January sales surge fastest for two years

  19-02-2016 23:54 via feedproxy.google.com
  
  BRITAIN’S growth prospects received a boost from savvy shoppers in search of a bargain as January sales rose at the fastest rate in two years.
  
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• London kicks off fashion shows amid catwalk shake-up

  19-02-2016 23:52
  
  LONDON (Reuters) - London picked up the fashion baton from New York on Friday with five days of catwalk shows and presentations amid an industry shake-up as designers strive to sell their creations faster.
  
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• Bidding war for Argos owner

  19-02-2016 23:48 via feedproxy.google.com
  SAINSBURY’S faces a bidding war for Home Retail Group after South African furniture retailer Steinhoff made a £1.42billion approach for the Argos owner.
  
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• Bats Global Markets gets okay to speed manipulation crackdowns

  19-02-2016 23:29
  
  NEW YORK, Feb 19 (Reuters) - Bats Global Markets, the No. 2 U.S. exchange operator, has received regulatory approval to crack down more promptly on manipulative trading behavior on its stock exchanges, according to a Securities and Exchange Commission filing.
  
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• UPDATE 1-Brazil's BM&FBovespa raises bid for rival clearinghouse Cetip

  19-02-2016 23:18
  
  SAO PAULO, Feb 19 (Reuters) - Brazil's BM&FBovespa SA is offering more cash and stock to buy rival clearinghouse Cetip SA Mercados Organizados, as Latin America's largest bourse seeks to expand into fixed-income and derivatives registration amid the bleakest outlook for domestic markets in more than a decade.
  
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• Details of new EU deal for Britain

  19-02-2016 22:51
  
  BRUSSELS, Feb 19 (Reuters) - Following are key details from a new EU deal with Britain on Friday, seen by Reuters:
  
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• UPDATE 1-S&P warns it may cut Icahn Enterprises to junk status, stock falls

  19-02-2016 22:31
  
  BOSTON, Feb 19 (Reuters) - U.S. ratings agency Standard & Poor's warned on Friday it may cut the credit rating of billionaire investor Carl Icahn's Icahn Enterprises to junk status after the portfolio absorbed heavy commodity sector losses in the last few months.
  
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• UPDATE 1-Colombia central bank hikes key rate to ease inflation, current acct worries

  19-02-2016 22:30
  
  BOGOTA, Feb 19 (Reuters) - Colombia's central bank raised its benchmark lending rate on Friday to 6.25 percent, the sixth consecutive monthly increase, amid calls for the board to take measures to control the current account deficit and counteract inflationary pressures.
  
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• UPDATE 2-Verizon redesigns its FiOS Custom TV offering

  19-02-2016 22:29
  
  NEW YORK, Feb 19 (Reuters) - Verizon Communications Inc , which launched its pay TV plan "FiOS Custom TV" last year to let viewers choose bundles of channels they want to watch, has redesigned the offering.
  
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• FBI escalates war with Apple: 'marketing' bigger concern than terror

  19-02-2016 22:09
  
  Court filing from Department of Justice says Apple is more concerned with ‘its marketing strategy’ than helping FBI unlock San Bernardino shooter’s iPhoneThe FBI accused Apple of prioritizing its public relations strategy over a terrorism investigation on Friday in a significant escalation of this week’s war between the tech company and the law enforcement agency.Related: Inside the FBI's encryption battle with AppleContinue reading...
  
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• Locals fear 'Amazon' project could bring a giant warehouse to Kent village

  19-02-2016 21:21
  
  But Ashford council denies the online retailer is planning a fulfilment centre on the boggy greenfields next to Sevington and Mersham villagesAmazon is at the centre of a row about a warehouse development in Kent that is set to benefit from almost £50m of government funding and threatens the future of a listed medieval church.Councillors and local residents have expressed concerns about Amazon opening a new 1m sq ft warehouse at the site in Sevington, claiming it would bring low-paid jobs
  
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• Construction firm Sweett fined over Abu Dhabi hotel contract

  19-02-2016 20:52
  
  SFO investigation finds company failed to prevent bribes made to secure a contract in the Middle EastSweett Group, a stock market listed construction firm, has been ordered to pay £2.25m in fines and other charges after pleading guilty to a criminal offence of failing to prevent bribes made to secure a contract to build a £63m luxury hotel in Abu Dhabi.The company, which is listed on the Aim junior stock market, notified the Serious Fraud Office about suspected corruption after the W
  
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• Market Report: Traders hold their fire as talks on Britain's EU future drag on

  19-02-2016 20:40 via telegraph.feedsportal.com
  
  Anxiety over possibility of Brexit weighs on FTSE 100
  
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• Reasons to hope the good news about jobs will keep on coming

  19-02-2016 20:36 via telegraph.feedsportal.com
  
  Since 2009, the UK has created more than 2m new jobs, whereas France has added only around 300,000 and Italy has lost 250,000
  
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• Sweett Group to pay £2.25m over Middle East bribery

  19-02-2016 20:18 via telegraph.feedsportal.com
  
  AIM-listed surveyor becomes first company to be sentenced for bribery over corrupt payments
  
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• Hoverboards that don’t meet safety standards now subject to seizure

  19-02-2016 20:04
  
  US Consumer Product Safety Commission announces that the self-balancing scooters must comply with standards issued by a safety consulting companyHoverboards that do not meet new safety standards are now subject to seizure or recall, the US Consumer Product Safety Commission announced on Friday.The federal agency sent a letter to manufacturers, importers and retailers on Thursday stating that the self-balancing scooters must comply with standards and requirements issued by a safety consulting com
  
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• Standard Life is walking a Brexit tightrope

  19-02-2016 20:00 via telegraph.feedsportal.com
  
  Companies have a duty to inform staff and shareholders of their views on specific risks to their businesses, but not to campaign in referendums
  
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• Rival challenges Sainsbury's in Home Retail Group takeover

  19-02-2016 19:55
  
  South African furniture retailer Steinhoff makes £1.42bn approach for Argos owner – about £70m more than supermarket’s bidSainsbury’s faces a potential bidding war for Home Retail Group after the Argos owner said it had received a £1.42bn approach from Steinhoff International.The South African retail group, which owns of Bensons for Beds and Harveys in the UK and Conforama in France and is part-owned by New Look owner Christo Wiese, has made an approach about
  
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• Christine Lagarde appointed for second term as IMF chief

  19-02-2016 19:39
  
  The former French finance minister won praise from developing countries but criticism from Greece during first termThe International Monetary Fund has appointed Christine Lagarde for a second term as managing director after she rebuilt the Washington-based organisation’s reputation following the sex scandal that engulfed her predecessor.Lagarde, 60, who was the only candidate, was backed by the UK, Germany, China, and her home country, France, to stay on for another five years. Continue re
  
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• The chart that tells you how much income you can safely draw from your investments

  19-02-2016 19:06 via telegraph.feedsportal.com
  
  Pension freedoms mean more of us are managing finite funds supposed to meet a range of unpredictable outcomes
  
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• Powa Technologies, once a darling of the UK tech scene, collapses into administration

  19-02-2016 19:02 via telegraph.feedsportal.com
  
  Mobile commerce group, which employs 311 people, was once valued at £1.9bn
  
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• South Africa's Steinhoff challenges Sainsbury's with rival £1.4bn bid for Argos owner

  19-02-2016 18:32 via telegraph.feedsportal.com
  
  Home Retail Group confirms rival approach, four days before Sainsbury's bid deadline
  
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• How to see if your data is being sold on the 'dark web'

  19-02-2016 18:09 via telegraph.feedsportal.com
  
  Most consumers are blissfully unaware of illicit online marketplaces where their data changes hands for cash. But there is a way to check
  
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• Lord Heseltine outlines plans to regenerate Redcar steelworks site

  19-02-2016 17:52
  
  Teesside initiative to create employment for skilled workforce affected by closure of SSI plant, says former deputy PMThe former deputy prime minister Michael Heseltine has announced plans to regenerate the site of the closed SSI steelworks at Redcar, North Yorkshire, where 1,700 people lost their jobs last year.The former heartland of Teesside steel has been hit hard by the crisis engulfing the industry, which has been blamed on Chinese firms dumping cheap steel on the European market. Continue
  
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• Let’s move to Glasgow Southside

  19-02-2016 17:30
  
  Squint and the broad avenues and tenements really could be Manhattan’s Lower East SideWhat’s going for it? I’ve heard a genuine Glaswegian refer to Southside, and they weren’t an estate agent. It does sound like those artificial areas concocted by marketing agencies to Manhattanise a place – like NoLetUp, DoReMe, or Nuneaton North Central. In fact, it refers to the area east of the M77, south of the M74, and if you make it to Giffnock, turn around, for there be
  
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• Wood Group cuts contractor wages for a third time

  19-02-2016 16:44 via telegraph.feedsportal.com
  
  The services firm will slash its North Sea contract rates by 9pc as tumbling oil prices continue to squeeze firms
  
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• Lord McFall quits Banking Standards Board after mobile phone row

  19-02-2016 16:24 via telegraph.feedsportal.com
  
  The Labour peer has left the group which aims to improve behaviour in banking after reports that he argued with the group's chairman over mobile phone etiquette
  
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• Coca-Cola bottling firm returns to growth

  19-02-2016 16:01
  
  Coca-Cola HBC sales volumes rise 2.6% but profits are hit by weakening currencies such as the roubleBottling company Coca-Cola HBC has returned to growth in established markets for the first time in five years after its soft drinks sold well in Italy and Greece.However, revenues for 2015 fell as the company took a big currency hit. It warned that trading remained tough in countries such as Russia, which has been hit hard by the collapse in the price of oil, its main export.Continue reading...
  
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• Barclays' investment banking boss leaves

  19-02-2016 15:56
  
  Tom King, whose future had been the subject of City speculation since July, will retire in MarchBarclays’ investment banking arm is facing further upheaval following the departure of its current boss, Tom King.King’s future had been the subject of City speculation since July when he had threatened to leave in a row over the future of the investment bank. Instead, Antony Jenkins, chief executive of the Barclays group, was forced out.Continue reading...
  
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• FTSE 100 slips lower as US opens down

  19-02-2016 15:55 via telegraph.feedsportal.com
  
  Signs that Saudi Arabia won't cut its output of crude oil knocked stock market confidence
  
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• UK adviser checks on product quality not consistent

  19-02-2016 15:33
  
  LONDON (Reuters) - British financial advisory firms are not consistent enough when assessing the quality of products and services they recommend to clients, the Financial Conduct Authority said on Friday.
  
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• Hedge fund withdrawal requests stay low in February

  19-02-2016 15:33
  
  LONDON (Reuters) - Investor demand to take money out of hedge funds rose slightly month on month in February but remained seasonally low, data on Friday showed, with market volatility continuing to underpin demand.
  
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• National Lottery: What time is Saturday's Lotto draw and how much is the jackpot?

  19-02-2016 15:19 via telegraph.feedsportal.com
  
  No one scooped the top prize for Wednesday night's Lotto draw, so this Saturday's rollover jackpot stands at £6.8million
  
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• 'Whatever we do, shops tell us to be cheaper': the growing crisis in Britain's farms

  19-02-2016 15:15 via telegraph.feedsportal.com
  
  As farmers prepare another march in London, the global pressure builds on the price of produce
  
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• Drones to inspect wind turbines as Strat Aero lands key contract

  19-02-2016 15:03 via telegraph.feedsportal.com
  
  UK business hopes the deal could help it tap the $6bn turbine inspection market
  
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• Arsenal midfielder Mathieu Flamini snaps up US bioplastic firm

  19-02-2016 14:51 via telegraph.feedsportal.com
  
  Mr Flamini's GFBiochemicals is set to produce sustainable bio-products after buying a leading US biofuel firm
  
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• UK retail sales soar as Brits splash their cash on 'fun stuff'

  19-02-2016 14:17 via telegraph.feedsportal.com
  
  Retail sales smash expectations as economists say consumer spending 'still firing on all cylinders'
  
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• UBS: This is not another financial crisis

  19-02-2016 14:14 via telegraph.feedsportal.com
  
  The Swiss investment bank's analysts believe that fears that the global economy is headed for another meltdown are overblown
  
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• 'Fraudsters stole our £18,923 from my Isa - and NatWest took four weeks to investigate'

  19-02-2016 13:59 via telegraph.feedsportal.com
  
  Retired couple lose money as fraudster's gain access to their NatWest phone banking, raising questions about the bank's security procedures
  
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• Chancellor's borrowing target in doubt despite big January surplus

  19-02-2016 13:30 via telegraph.feedsportal.com
  
  George Osborne banks biggest January surplus since 2008 but analysts say it may not be enough to meet borrowing target this year
  
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• Employer-sponsored wellness programs put your health privacy on life support | Pam Dixon

  19-02-2016 13:15
  
  Many companies offer wellness programs, but few employees are aware of just how much private data they are giving away when they use themIt sounds outlandish that your employer-sponsored wellness program could learn if you stop birth control. Or know how susceptible you are to diabetes based on your credit card history, which reveals what you spend on everything from gym membership to where you eat. But a recent report in the Wall Street Journal says that they can do just that.Most people think
  
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• Royal Mail raises stamp prices by 1p

  19-02-2016 13:06
  
  Privatised service says it kept price rise to smallest possible increase, adding that UK stamps are still among best value in EuropeRoyal Mail is to raise the price of stamps, months after the government completed the privatisation of the service.First class stamps will go up by 1p to 64p, while a second class stamp will rise by the same amount to 55p from 29 March. Continue reading...
  
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• Chancellor's borrowing target in doubt despite January surplus

  19-02-2016 13:01 via telegraph.feedsportal.com
  
  George Osborne banks biggest January surplus since 2008 but analysts say it may not be enough to meet borrowing target this year
  
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• ANOTHER reason to LEAVE: EU economy to DECAY this year as Britain booms, predicts OECD

  19-02-2016 12:55 via feedproxy.google.com
  
  EUROPE'S crisis hit economy will keep crumbling this year, while Britain takes centre stage as world's fastest growing developed country, a global think-tank has predicted.
  
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• The latest victim of low oil prices is Coca-Cola's bottling company

  19-02-2016 12:50 via telegraph.feedsportal.com
  
  Coca-Cola HBC grew volumes but tough trading conditions in Russia and adverse currency rates weighed on profits
  
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• Standard Life sees benefits in Europe, prepares for possible Brexit

  19-02-2016 12:46
  
  LONDON (Reuters) - Clients of British insurer and asset manager Standard Life would gain from continued access to Europe's single market, its CEO said on Friday, adding that the company is making contingency plans for Britain's possible EU exit.
  
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• London local government looks to Northwest England to create pension asset pool

  19-02-2016 12:43
  
  LONDON (Reuters) - London's local government pension fund plans to work with peers in the northwest of England to create a pool of assets totalling more than 45 billion pounds, it said on Friday.
  
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