Finance news

• Brazil's Rousseff vows to tackle graft, boost economy

  01-01-2015 22:33 via news.yahoo.com
  
  Brazilian President Dilma Rousseff kicked off a second term Thursday, vowing to tackle corruption and revamp the economy as her government reels from a series of setbacks. Brazil's economy, once booming, has barely grown during Rousseff's time in office, and her administration is embroiled in a multimillion-dollar graft scandal at state-owned oil giant Petrobras. "We must investigate and punish, but without weakening Petrobras or diminishing its importance," she added, drawin
  
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• General Motors issues three new recalls, cites ignition systems

  01-01-2015 22:32 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - General Motors Co on Thursday announced three new recalls affecting nearly 84,000 sport-utility vehicles and pickup trucks, saying their ignition systems may have problems that could affect engine power and air bag deployment. Ignition problems triggered dozens of recalls from GM throughout 2014. After accidents that caused more than 40 deaths, the automaker recalled more than 2.5 million vehicles. No crashes or injuries were reported in the latest round o
  
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• Australia shares seen to start the year weaker

  01-01-2015 22:19
  SYDNEY, Jan 2 (Reuters) - Australian shares are set to open lower on Friday, tracking weakness on Wall Street and falling oil prices. The heavyweight resources sector is likely to come under renewed...
  
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• NY Governor Cuomo vows to rebuild trust in police in second term

  01-01-2015 21:09 via news.yahoo.com
  
  By T.G. Branfalt (Reuters) - New York Governor Andrew Cuomo kicked off his second term on Thursday, saying he is governing in “troubled times” and that education, the economy and rebuilding public trust in law enforcement would top his agenda over the next four years. He lauded his first term as a success, saying the state now has a record 7.6 million jobs, a $5 billion budget surplus, effective and smart gun control laws, marriage equality and expanded healthcare that reaches 1.5 million pe
  
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• French investigators to arrive Friday at AirAsia crash scene - BEA

  01-01-2015 21:01
  PARIS, Jan 1 (Reuters) - France's crash investigation agency said its specialist black box search team and equipment would arrive early Friday at the search area for the AirAsia flight which crashed...
  
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• UPDATE 1-Brazil's Rousseff vows budget cuts, anti-corruption push in 2nd term

  01-01-2015 20:36
  BRASILIA, Jan 1 (Reuters) - Brazil's President Dilma Rousseff began her second term Thursday vowing to rein in government spending to curb inflation and pull Latin America's largest economy out of a...
  
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• General Motors issues three new recalls: reports

  01-01-2015 19:50 via news.yahoo.com
  
  NEW YORK (Reuters) - General Motors Co announced three new recalls affecting more than 83,000 sport-utility vehicles and pickup trucks that may have faulty ignition systems, the Wall Street Journal and the Detroit News reported on Thursday.
  
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• Brazil's Rousseff vows fiscal austerity in second term

  01-01-2015 19:33
  BRASILIA, Jan 1 (Reuters) - Brazil's government will rein in public spending to allow the economy to grow again but will do so at the minimum cost for the population, President Dilma Rousseff said in...
  
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• Russians optimistic for 2015 despite it all

  01-01-2015 17:28 via news.yahoo.com
  
  MOSCOW (AP) — At the vast skating rink in Moscow's Gorky Park, Russians say they're looking forward to a 2015 that will be as smooth as the ice, despite the country's economic and political difficulties. The ruble has sunk, tensions with the West are up, but the troubles seem to have produced a surge in national pride.
  
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• Economist Piketty declines France's Legion d'Honneur

  01-01-2015 17:09
  PARIS, Jan 1 (Reuters) - France's star economist Thomas Piketty, who shot to fame and topped best-seller lists in 2014 with his controversial book on wealth and inequality, has declined the country's...
  
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• UPDATE 1-Oman 2015 budget raises state spending at expense of big deficit

  01-01-2015 16:40
  MUSCAT, Jan 1 (Reuters) - Oman's finance ministry released a state budget for 2015 on Thursday that raises spending at the cost of a big projected deficit due to the plunge in oil prices.
  
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• India PM replaces Soviet-style planning body, aiming to boost growth

  01-01-2015 16:36 via news.yahoo.com
  
  NEW DELHI (Reuters) - India has scrapped its 65-year-old Planning Commission, which Prime Minister Narendra Modi has accused of stifling growth with Soviet-style bureaucracy, replacing it on Thursday with a body he said would do more to involve the regions. The new National Institution for Transforming India (NITI) will act more like a think tank or forum, say its supporters, in contrast with the Commission which imposed five-year-plans and allocated resources to hit set economic targets. ...
  
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• Economist Thomas Piketty refuses France's highest honour

  01-01-2015 16:10 via news.yahoo.com
  
  France's influential economist Thomas Piketty, author of "Capital in the 21st Century", on Thursday refused to accept the country's highest award, the Legion d'honneur, to criticise the Socialist government in power. I refuse this nomination because I do not think it is the government's role to decide who is honourable," Piketty told AFP. "They would do better to concentrate on reviving (economic) growth in France and Europe," added Piketty, who was o
  
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• Ethiopia dam project could start power generation by June - official

  01-01-2015 15:33 via news.yahoo.com
  
  By Aaron Maasho ADDIS ABABA (Reuters) - A much-delayed $1.8 billion dam project under construction along Ethiopia's Omo river could begin generating power by June and be fully operational by early 2016, an official said on Thursday. Gilgel Gibe 3 will nearly double the country's energy output, helping to resolve chronic power outages and sustain a booming economy. Work started in 2008 and was due to be completed around three years later, but the project has faced funding shortages over concerns
  
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• Oman 2015 budget raises state spending at expense of big deficit

  01-01-2015 15:17
  MUSCAT, Jan 1 (Reuters) - Oman's finance ministry released a state budget for 2015 on Thursday that raises spending at the cost of a big projected deficit due to the plunge in oil prices.
  
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• UPDATE 8-Weather stalls search for AirAsia black boxes; first victim buried

  01-01-2015 14:33
  * Data shows plane climbed steeply before disappearing (Updates number of bodies found, adds first funeral, details)
  
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• Lithuania smoothly transitions to euro

  01-01-2015 14:29 via news.yahoo.com
  
  Lithuania welcomed a New Year and a new currency on Thursday, becoming the last Baltic nation to adopt the euro in a bid to boost stability despite fears of inflation and eurozone debt woes. Prime Minister Algirdas Butkevicius withdrew his first 10-euro bill ($12) from a Vilnius cash machine after midnight, as fireworks signed off a year marked by alarm over Russia's role in the Ukraine conflict and its economic crisis. "Everything seems cheap," said 32-year-old Kastytis Backis, a
  
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• Troubled EU hoping the only way is up in 2015

  01-01-2015 13:45 via news.yahoo.com
  
  BRUSSELS (AP) — Beset by critics and buffeted by economic woes, European Union chiefs might have been forgiven for thinking that at least Pope Francis would apply some balm for the New Year in his address to the EU parliament.
  
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• Israel's CollPlant plans to list ADRs on U.S. market

  01-01-2015 12:53
  JERUSALEM, Jan 1 (Reuters) - Israeli medical device company CollPlant Holdings said on Thursday it was working to register its shares in the United States to attract American and foreign investors.
  
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• Istanbul December retail prices up 0.17 pct, 2015 rise 11.14 pct

  01-01-2015 12:20
  ANKARA, Jan 1 (Reuters) - Retail prices in Istanbul, Turkey's largest city, rose 0.17 percent month-on-month in December and wholesale prices fell 0.44 percent, the Chamber of Commerce said on...
  
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• Turkey's December exports up 1.1 pct, 2014 exports at record high

  01-01-2015 12:06
  ANKARA, Jan 1 (Reuters) - Turkish December exports rose 1.1 percent year-on-year to $13.14 billion, the Turkish Exporters' Assembly (TIM) said on Thursday.
  
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• Pharma and biotech on a roll as drug approvals hit 18-year high

  01-01-2015 10:46
  * U.S. FDA approves 41 novel medicines in 2014 vs 27 in 2013
  
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• Jeb Bush quits board posts ahead of possible White House run - Washington Post

  01-01-2015 08:24
  Dec 31 (Reuters) - Potential U.S. Republican presidential candidate Jeb Bush has resigned from all of his corporate and non-profit board member positions, the Washington Post reported on Wednesday,...
  
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• DIARY- Top Economic Events to Jan 14

  01-01-2015 07:10
  ** This Diary is filed daily ** ----------------------------------------------------------- TOP ECONOMIC EVENTS
  
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• REFILE-UPDATE 4-Search for missing AirAsia black box recorders could "take a week"

  01-01-2015 07:10
  * Divers to try and investigate suspected plane wreck on sea floor
  
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• China service sector growth picks up in December

  01-01-2015 06:40 via news.yahoo.com
  
  BEIJING (Reuters) - Growth in China's services sector picked up slightly in December, a government study showed on Thursday, helping to offset further weakness in manufacturing which is weighing on the world's second-largest economy.
  
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• China December factory PMIs suggest economy cooling further, more stimulus expected

  01-01-2015 06:40 via news.yahoo.com
  
  BEIJING (Reuters) - China's factory activity sputtered in December, underlining the challenges facing the country's manufacturers as they fight rising costs and softening demand in a cooling economy. After a rough 2014, the world's second-largest economy looks set to start the new year on a weak note, reinforcing expectations that Beijing will roll out more stimulus to avert a sharper slowdown which could trigger job losses and debt defaults. ...
  
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• UPDATE 3-China Dec factory PMIs suggest economy cooling further, more stimulus expected

  01-01-2015 06:35
  * Exports may be bottoming out but property slump to continue
  
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• Japan PM Abe pledges reforms to boost economy

  01-01-2015 05:43 via news.yahoo.com
  
  Japanese Prime Minister Shinzo Abe Thursday pledged to carry out crucial structural reforms this year as part his drive to kickstart the economy, while stressing the country remained pacifist as he pursues his nationalist agenda. "This year we will once again make the economy the foremost priority, delivering the warm winds of economic recovery to every corner of the nation," he said in his new year statement, weeks after winning a landslide election. "We will decisively execute o
  
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• South Korea exports hit record high in 2014

  01-01-2015 05:24 via news.yahoo.com
  
  Seoul (AFP) - South Korea enjoyed record exports last year, data showed Friday, despite slow economic growth in key market China and a sluggish recovery in Europe.
  
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• China manufacturing growth at lowest in 2014

  01-01-2015 04:46 via news.yahoo.com
  
  China's manufacturing growth dropped in December to its lowest level of 2014, an official survey showed Thursday, as the sector struggles with weak domestic demand. China's official Purchasing Managers' Index (PMI) released by the National Bureau of Statistics (NBS) came in at 50.1 last month, down from 50.3 recorded in November. The index, which tracks activity in factories and workshops, is considered a key indicator of the health of China's economy, a major driver of globa
  
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• UPDATE 2-China Dec factory PMIs suggest economy cooling further, more stimulus expected

  01-01-2015 04:36
  * Exports may be bottoming out but property slump to continue
  
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• China approves three new foreign courier firms -Xinhua

  01-01-2015 03:57
  BEIJING, Jan 1 (Reuters) - China has permitted three new overseas courier firms to offer domestic delivery services, state news agency Xinhua said on Thursday, as part of government pledges to...
  
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• China's official factory PMI slows to 50.1 in Dec, as expected

  01-01-2015 02:08
  BEIJING, Jan 1 (Reuters) - Growth in China's factory sector slowed as expected in December, a government study showed on Thursday, underlining the challenges facing the sector as manufacturers fight...
  
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• Improved weather raises hopes that divers can reach suspected AirAsia plane wreck

  01-01-2015 01:36
  * Divers to try and investigate suspected plane wreck on sea floor
  
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• Former Alaska Senator Gravel named chief executive of cannabis products company

  01-01-2015 01:19
  JUNEAU, Alaska, Dec 31 (Reuters) - Former U.S. Democratic Senator Mike Gravel, who represented Alaska in the 1970s, said on Wednesday he would head a Nevada company that develops and markets cannabis...
  
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• BC Partners to sell half of its stake in Migros to Turkey's Anadolu

  01-01-2015 01:05
  (Reuters) - Private equity firm BC Partners [BCPRT.UL] said on Wednesday it will sell a 40.25 percent stake in its supermarket chain Migros to Turkish conglomerate Anadolu Endustri Holding AS.
  
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• DIARY -Emerging Markets Economic Events to Jan 14

  01-01-2015 01:02
  ** This Diary is filed daily *** -------------------------------------------------------------
  
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• UPDATE 1-Argentina to start 2015 with lapdogs flying high

  01-01-2015 00:54
  BUENOS AIRES, Dec 31 (Reuters) - Argentine President Cristina Fernandez chose an unexpected theme for her year-end message to the country: a change in policy at the state-run airline to allow...
  
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• Barrick says Chile court won't hear its appeal on Pascua-Lama fine

  01-01-2015 00:50
  Dec 31 (Reuters) - Chile's Supreme Court has declined to hear Barrick Gold Corp's appeal of a lower court's decision involving fines imposed on its Pascua-Lama project by the country's environmental...
  
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• UPDATE 1-Lithuania joins euro as tensions with neighbouring Russia rise

  01-01-2015 00:25
  * Central bank chief stresses geopolitical considerations
  
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• Lithuania joins eurozone to seal ties with West

  01-01-2015 00:02 via news.yahoo.com
  
  Lithuania switched over to the euro on Thursday, becoming the last Baltic nation to adopt Europe's single currency, in a bid to boost stability despite fears of inflation and eurozone debt woes. Baltic leaders withdrew their first euros from a Vilnius bank machine just after midnight, as the eurozone gained its 19th member and fireworks signed off a year marked by alarm over Russia's role in the Ukraine conflict and its economic crisis. For a nation scarred by decades of Soviet occupat
  
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