Finance news

• UPDATE 2-Anti-euro German AfD party aims to end leadership dispute

  31-01-2015 21:43
  * AfD not small-time bowling club or 'rabbit-breeding society'
  
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• UPDATE 2-Greece seeks to reassure Europe as tensions rise

  31-01-2015 20:29
  * ECB governor warns banks risk funding if no accord reached (Releads with call to ECB, adds details)
  
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• Kremlin says Putin, Merkel, Hollande discussed Ukraine by phone

  31-01-2015 17:41
  MOSCOW, Jan 31 (Reuters) - Russian President Vladimir Putin, German Chancellor Angela Merkel and French President Francois Hollande discussed increased violence in southeastern Ukraine in a phone...
  
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• JPMorgan to pay $99.5 million to resolve currency rigging lawsuit

  31-01-2015 17:35
  
  NEW YORK (Reuters) - JPMorgan Chase & Co, the largest U.S. bank, agreed to pay $99.5 million to settle its portion of an antitrust lawsuit in which investors accuse 12 major banks of rigging prices...
  
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• JPMorgan to pay $99.5 mln to resolve currency rigging lawsuit

  31-01-2015 17:33
  NEW YORK, Jan 31 (Reuters) - JPMorgan Chase & Co, the largest U.S. bank, agreed to pay $99.5 million to settle its portion of an antitrust lawsuit in which investors accuse 12 major banks of rigging...
  
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• Rouhani accuses Iranian hardliners of 'cheering on' other side in atom talks

  31-01-2015 17:13 via news.yahoo.com
  
  Iranian President Hassan Rouhani, growing frustrated with hardline resistance to a nuclear deal with the West, accused opponents on Saturday of effectively "cheering on" the other side in Tehran's grueling negotiations with world powers. Soon after his 2013 election victory over conservative hardliners, the pragmatist Rouhani set out to end a 12-year nuclear stand-off with the West and thereby secure the lifting of tough sanctions that have crippled Iran's oil-based economy.
  
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• Greek minister wants to link debt payments to growth: Der Spiegel

  31-01-2015 16:44 via news.yahoo.com
  
  Greece's economy minister said it would be better to link the country's debt repayments to its economic growth rate as it needs a feasible solution to bring its sovereign debt under control. "At the moment, we spend around five percent of gross domestic product on servicing our debt. ...It would be better if we linked the repayment to growth: if growth is higher, we pay more, if it is lower, we pay less," Georgios Stathakis said in an interview with German weekly magazine Der Spiegel. New Prime
  
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• UPDATE 1-Greek minister wants to link debt payments to growth -Der Spiegel

  31-01-2015 16:42
  BERLIN, Jan 31 (Reuters) - Greece's economy minister said it would be better to link the country's debt repayments to its economic growth rate as it needs a feasible solution to bring its sovereign...
  
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• Greek economy minister: better to link repayments to growth - Der Spiegel

  31-01-2015 16:35 via news.yahoo.com
  
  Greece's economy minister said it would be better to link the country's debt repayments to its economic growth rate as it needs a feasible solution to bring its sovereign debt under control. "At the moment, we spend around five percent of gross domestic product on servicing our debt. ...It would be better if we linked the repayment to growth: if growth is higher, we pay more, if it is lower, we pay less," Georgios Stathakis said in an interview with German weekly magazine Der Spiegel.
  
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• UPDATE 1-Spain's anti-austerity Podemos stages show of force before elections

  31-01-2015 15:55
  * Strategy worked for Greece's Syriza, could fail in Spain (Adds more colour, quotes, details)
  
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• Lavish freebies from Saudi king to buoy economy, markets

  31-01-2015 15:05 via news.yahoo.com
  
  By Andrew Torchia DUBAI (Reuters) - A lavish payout to public employees ordered by Saudi Arabia's new King Salman will help to sustain the kingdom's consumer boom and reassure financial markets that the government is not slashing expenditure in the face of low oil prices. On Thursday, Salman ordered the immediate payment of two months of bonus salary to all state employees and pension to retired government workers, in a string of decrees which also reorganized the economic policy-makin
  
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• Germany, ECB play hard ball with Greece

  31-01-2015 15:01
  BERLIN/HELSINKI, Jan 31 (Reuters) - German Chancellor Angela Merkel ruled out a debt writedown for Greece on Saturday, and a European Central Bank policymaker threatened to cut off funding to Greek...
  
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• Italy elects senior judge Sergio Mattarella as president

  31-01-2015 14:49 via news.yahoo.com
  
  By Steve Scherer and Paolo Biondi ROME (Reuters) - Italian lawmakers elected Sergio Mattarella, a constitutional court judge and veteran center-left politician, as president on Saturday, handing a welcome political victory to Prime Minister Matteo Renzi. Mattarella, speaking at his office in the Constitutional Court after the vote, said: "My first thoughts are of the difficulties and hopes of our citizens." The election shows the 40-year-old Renzi in firm control of both his famously f
  
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• Anti-euro German AfD party aims to end leadership dispute

  31-01-2015 14:39
  * AfD not small-time bowling club or 'rabbit-breeding society'
  
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• Russia's economy to shrink by 3% in 2015: minister

  31-01-2015 14:34 via news.yahoo.com
  
  Moscow (AFP) - Russia's economy minister on Saturday said GDP is expected to shrink by three percent in 2015 with oil prices at $50 a barrel, while capital flight is estimated to be $115 billion.
  
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• Tens of thousand rally for Spain's Podemos before elections

  31-01-2015 12:58 via news.yahoo.com
  
  Tens of thousands marched in Madrid on Saturday in the biggest show of support yet for anti-austerity party Podemos, whose surging popularity and policies have drawn comparisons with Greece's new Syriza rulers. Podemos ("We Can") was formed just a year ago, but produced a major shock by winning five seats in elections for the European Parliament in May. It is currently topping opinion polls in the run up to local, regional and national elections this year. "People are fed up
  
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• Greek finance minister visits Paris in search for allies

  31-01-2015 12:58 via news.yahoo.com
  
  Greek Finance Minister Yanis Varoufakis has moved forward to Saturday a planned trip to Paris that launches the new anti-austerity government's search for EU allies, his office said. "The minister will travel to Paris on Saturday instead of Monday," a spokesman told AFP, adding that Varoufakis was expected to hold meetings on Sunday. Varoufakis, a maverick economist opposed to fiscal cuts, was originally due to meet with French counterpart Michel Sapin and Economy Minister Emmanue
  
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• UPDATE 1-Greek finance minister to meet French counterpart on Sunday

  31-01-2015 12:20
  PARIS/ATHENS, Jan 31 (Reuters) - Greek finance minister Yanis Varoufakis will meet with his French counterpart Michel Sapin in Paris on Sunday, the French finance ministry said on Saturday.
  
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• RPT-Greek finance minister to meet French counterpart on Sunday

  31-01-2015 12:17
  PARIS/ATHENS, Jan 31 (Reuters) - Greek finance minister Yanis Varoufakis will meet with his French counterpart Michel Sapin in Paris on Sunday, the French finance ministry said on Saturday.
  
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  31-01-2015 12:13
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• Greek finance minister to meet French counterpart on Sunday

  31-01-2015 11:48
  PARIS/ATHENS, Jan 31 (Reuters) - Greek finance minister Yanis Varoufakis will meet with his French counterpart Michel Sapin in Paris on Sunday, the French finance ministry said on Saturday.
  
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• ECB's Liikanen: No lending to Greek banks if no deal by end of February

  31-01-2015 11:29
  HELSINKI, Jan 31 (Reuters) - A deal on extending Greece's bailout deal must be found by the end of February or the European Central Bank will not be able to continue lending to its banks, ECB council...
  
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• Energy earnings: How bad will they get?

  31-01-2015 11:00 via news.yahoo.com
  
  Canadian Oil Sands surprised no one on Thursday when it reported sharply lower earnings and a massive cut to its dividend. Canadian Oil Sands reported net income of $25 million, down 87 per cent from the same quarter a year ago. It cut its capital spending plans for 2015 and slashed its dividend by 86 per cent, to five cents a share, to conserve cash. "Canadian Oil Sands is what you call a pure play," says Judith Dwarkin, director of energy research with ITG Investment Research in Calgary.
  
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• Merkel rejects debt writedown for Greece - Die Welt

  31-01-2015 10:37
  BERLIN, Jan 31 (Reuters) - German Chancellor Angela Merkel and her finance minister have both ruled out a debt haircut for Greece, rejecting the new Greek government's demand to write off part of its...
  
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• Austrians rue starting fashion for Swiss franc mortgages

  31-01-2015 09:00
  VIENNA, Feb 1 (Reuters) - The surging Swiss franc has dealt a double blow to homeowners in Austria, home of the trend for borrowing in the Swiss currency that has devastated mortgage holders across...
  
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• Rupee closes flat against dollar at 61.87

  31-01-2015 08:55 via news.yahoo.com
  
  Nationalized banks were heavy buyers of dollars in the market, said currency dealers. Poor results by Bank of Baroda and ICICI Bank Ltd also dragged down the banking index and the stock market saw some selling pressure, the currency dealers said. The local currency had opened at 61.84 a dollar and but dropped to its 16 January level of 62.03.
  
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• Panasonic withdraws from TV production in China: source

  31-01-2015 08:03
  
  TOKYO (Reuters) - Panasonic Corp has stopped making TVs in China and plans to liquidate its joint venture in Shandong, a company source said on Saturday, the latest in a string of Japanese...
  
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• What slowing economy? US consumers are in a mood to spend

  31-01-2015 06:06 via news.yahoo.com
  
  WASHINGTON (AP) — There's a good reason the U.S. economy is impressing the world right now despite a slowdown in the final three months of 2014: In a word, steadiness.
  
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• AirAsia captain left seat before jet lost control -sources

  31-01-2015 05:28
  SINGAPORE/JAKARTA/PARIS, Jan 31 (Reuters) - The captain of the AirAsia jet that crashed into the sea in December was out of his seat conducting an unorthodox procedure when his co-pilot apparently...
  
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• California truckers win $2 million in wage theft suit

  31-01-2015 04:50
  LOS ANGELES, Jan 30 (Reuters) - Seven Los Angeles-area truckers have won a $2 million claim against an international shipping company accused of stealing their wages by improperly classifying them as...
  
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• SINGAPORE PRESS-Marina Bay Sands fined, RWS censured-Straits Times

  31-01-2015 04:33
  Singapore's two casinos have been disciplined for failing to adhere to measures intended to protect the vulnerable from gambling, the Straits Times reported, citing the Casino Regulatory Authority of...
  
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• Samsung Electronics to buy Brazil printing solutions firm

  31-01-2015 04:02
  
  SEOUL (Reuters) - South Korea's Samsung Electronics Co Ltd said on Saturday that it would acquire Brazilian printing solutions company Simpress, the latest deal by the tech giant to bolster its...
  
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• Samsung Elec to buy Brazil printing solutions firm

  31-01-2015 04:00
  SEOUL, Jan 31 (Reuters) - South Korea's Samsung Electronics Co Ltd said on Saturday that it would acquire Brazilian printing solutions company Simpress, the latest deal by the tech giant to bolster...
  
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• Union says rejects U.S. refinery workers contract offer on Friday

  31-01-2015 03:24
  HOUSTON, Jan 30 (Reuters) - Union negotiators said the latest proposal from oil companies for a new three-year contract for U.S. refinery workers was rejected on Friday because it failed meet to...
  
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• Dish's $3 bln wireless auction discount up for U.S. regulator review

  31-01-2015 02:59
  WASHINGTON, Jan 30 (Reuters) - U.S. regulators will review a $3 billion discount claimed by Dish Network Corp and partners including investment management company BlackRock Inc during a U.S....
  
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• REFILE-UPDATE 1-Alibaba meets with China regulator, controversial report retracted

  31-01-2015 02:32
  Jan 30 (Reuters) - The head of China's commerce regulator met with Alibaba Group Holding Ltd chairman Jack Ma on Friday to discuss combating fake products, the official Xinhua news agency reported,...
  
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• Moody's may cut rating of California's Kern County after fiscal emergency

  31-01-2015 02:27
  LOS ANGELES, Jan 30 (Reuters) - California's Kern County was put on notice for a possible downgrade on Friday by ratings agency Moody's Investor Service, three days after the county declared a fiscal...
  
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• Close encounter? No, it is Pepsi lighting up the Super Bowl sky

  31-01-2015 02:21
  LOS ANGELES, Jan 30 (Reuters) - Fans flocking to the Super Bowl in Arizona will see peculiar lights in the Friday night sky. No, it is not a UFO but part of Pepsi's invasion of host city Phoenix...
  
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• UPDATE 2-U.S. must target currency manipulation in trade deals -senator

  31-01-2015 02:00
  WASHINGTON, Jan 30 (Reuters) - The Obama administration must insist that U.S. trading partners pledge not to manipulate currencies when negotiating trade deals, the Senate Committee on Finance...
  
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• UPDATE 5-Mexico cuts spending on oil shock, shelves tainted rail project

  31-01-2015 01:53
  MEXICO CITY, Jan 30 (Reuters) - Mexico's government cut its 2015 budget by nearly 3 percent on Friday after a drop in global oil prices hurt public finances, and it is shelving a tainted $3.75...
  
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• UPDATE 1-Honda says fatal crash involved Takata air bag inflator rupture

  31-01-2015 01:49
  DETROIT, Jan 30 (Reuters) - Honda Motor Co Ltd on Friday said it has confirmed that a Takata Corp air bag inflator ruptured in a Jan. 18 crash in Texas that killed the driver.
  
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• CORRECTED-UPDATE 1-IBM brings back bonuses for top execs even as profits slide

  31-01-2015 01:39
  SEATTLE, Jan 30 (Reuters) - International Business Machines Corp brought back annual performance bonuses for its chief executive and her top lieutenants for 2014 despite falling profits and a...
  
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• CORRECTED-IBM brings back bonuses for top execs even as profits slide

  31-01-2015 01:39
  SEATTLE, Jan 30 (Reuters) - International Business Machines Corp brought back annual performance bonuses for its chief executive and her top lieutenants for 2014 despite falling profits and a...
  
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• Uber probed by U.S. judge on driver benefits

  31-01-2015 01:21 via news.yahoo.com
  
  By Dan Levine SAN FRANCISCO (Reuters) - A U.S. judge appeared skeptical on Friday about Uber's bid for a quick pretrial ruling that its drivers are contractors and not employees, a critical question facing Silicon Valley's sharing economy. App-based ride service Uber, and smaller rival Lyft, face separate lawsuits seeking class action status in San Francisco federal court, brought on behalf of drivers who contend they are employees and entitled to reimbursement for expenses, including
  
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• MOVES-Elliott Management names Steven Kasoff fourth equity partner -WSJ

  31-01-2015 01:18
  Jan 30 (Reuters) - Elliott Management Corp said it appointed senior portfolio manager Steven Kasoff as its fourth equity partner, the Wall Street Journal reported, citing an investor letter from the...
  
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• China home prices break falling streak in January

  31-01-2015 01:05 via news.yahoo.com
  
  China's housing prices rose in January for the first time in nine months, a survey showed Saturday, breaking a decline that has weighed on growth in the world's second-largest economy. The average price of a new home in China's 100 major cities rose 0.21 percent from December to 10,564 yuan ($1,690) per square metre, according to the independent China Index Academy, the first rise since April 2014. "Overall, with the real estate market expected to continue its turn for the be
  
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• DIARY-Emerging Markets Economic Events to Feb 12

  31-01-2015 01:02
  ** This Diary is filed daily *** -------------------------------------------------------------
  
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• Chimerix to stop participation in clinical studies of Ebola drug

  31-01-2015 01:01
  Jan 30 (Reuters) - Drug developer Chimerix Inc said it would stop participation in clinical studies of its Ebola drug, brincidofovir, citing a significant decrease in the number new cases for the...
  
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• DIARY- Top Economic Events to Feb 12

  31-01-2015 01:01
  ** This Diary is filed daily ** ----------------------------------------------------------- TOP ECONOMIC EVENTS
  
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• Exclusive: Sysco, US Foods offer to divest 11 facilities to win FTC deal approval

  31-01-2015 01:00
  
  WASHINGTON (Reuters) - Food distributor Sysco Corp and its biggest rival, US Foods Inc , have offered to sell a smaller competitor 11 facilities in order to convince skeptical antitrust regulators...
  
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