Finance news

• Another record year predicted for SC's $18B tourism industry

  08-02-2015 21:56 via news.yahoo.com
  
  CHARLESTON, S.C. (AP) — The lowest gas prices in years and a robust economy should combine for another record year for South Carolina's $18 billion tourism industry.
  
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• Defiant Greek PM sets up EU clash with bailout rejection, austerity rollback

  08-02-2015 21:45 via news.yahoo.com
  
  By Lefteris Papadimas and Renee Maltezou ATHENS (Reuters) - Leftist Prime Minister Alexis Tsipras laid out plans on Sunday to dismantle Greece's "cruel" austerity program, ruling out any extension of its international bailout and setting himself on a collision course with his European partners. In his first major speech to parliament since storming to power last month, Tsipras rattled off a list of moves to reverse reforms imposed by European and International Monetary Fund lender
  
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• Greek PM Tsipras sets up another EU clash, refuses bailout extension

  08-02-2015 20:32 via news.yahoo.com
  
  By Deepa Babington and Renee Maltezou ATHENS (Reuters) - Greece's new leftist prime minister, Alexis Tsipras, said on Sunday he would not accept an extension to Greece's current bailout, setting up a clash with EU leaders - who want him to do just that - at a summit on Thursday. "The bailout failed," he said. "The new government is not justified in asking for an extension ... because it cannot ask for an extension of mistakes." Tsipras's speech will have been c
  
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• Warren Buffet faces pressure for more disclosure - FT

  08-02-2015 20:00 via news.yahoo.com
  
  (Reuters) - Investment analysts are criticizing Warren Buffett over the quality of the financial disclosures of his company, Berkshire Hathaway , the Financial Times reported on Sunday. The FT interviewed five of the six analysts who cover the $370 billion (243 billion pounds) company, which is the third largest on the U.S. stock market.
  
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• Greek standoff with Euro zone a risk to Britain's economy - Osborne

  08-02-2015 19:39 via news.yahoo.com
  
  The standoff between Greece and the euro zone over Greek debt is raising the risks to the British economy "every day", Chancellor George Osborne said on Sunday, warning a Greek exit from the euro would cause "real ructions" in his country. Osborne, who said Britain was stepping up contingency planning for any Greece-related instability, said it was vital that the crisis be contained. "This stand-off between Greece and the euro zone is increasing the risks every day to th
  
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• Oil company CEOs likely to avoid big hit to compensation – for now

  08-02-2015 19:32
  
  BOSTON (Reuters) - These are nervous times at the top of North America’s oil companies. Executives are trying to cope with the plunge in oil prices and are slashing costs as they watch earnings and...
  
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• U.S. urges euro zone leaders to compromise with Athens: FT

  08-02-2015 19:28 via news.yahoo.com
  
  The Obama administration is pushing euro zone leaders to compromise more with Greece's new government as fears grow that a protracted budget stand-off could damage the global economy, the Financial Times reported on Sunday. The U.S. lobbying effort comes amid mounting concerns in Brussels and Washington about the hardline stance taken by some members of the euro zone, particularly Germany, that Greece must press on with its budget-cutting commitments, according to the report, which cited Europea
  
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• Nigerian opposition presidential candidate urges calm after election postponement

  08-02-2015 19:11 via news.yahoo.com
  
  By Julia Payne ABUJA (Reuters) - Nigerian opposition presidential candidate general Muhammadu Buhari called for calm in the country and cautioned against any violence following postponement of elections. Foreign powers are closely observing the course of elections in Africa's biggest economy and have voiced concerns there could be a repetition of violence that followed 2011 elections when 800 people died. "Any act of violence can only complicate the security challenges in the country a
  
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• AP-GfK Poll: Majority approves of Obama job on unemployment

  08-02-2015 18:02 via news.yahoo.com
  
  WASHINGTON (AP) — Americans' views of President Barack Obama have improved slightly in the past two months, and opinions are more positive about the direction of the country and the health of the economy, an Associated Press-GfK poll finds.
  
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• Greek PM to unveil economic policy ahead of key EU talks

  08-02-2015 16:59 via news.yahoo.com
  
  Greek Prime Minister Alexis Tsipras will unveil a high-stakes economic programme Sunday ahead of a key meeting with eurozone finance ministers this week when Athens will push for a new debt deal with international creditors. The leader of Greece's new anti-austerity government will present his debt and economic reform plans against the backdrop of mounting fears that Greece could default on its loans and exit the eurozone. Government spokesman Gabriel Sakellaridis said the cabinet had discu
  
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• MIDEAST STOCKS-Gulf markets rise after oil's rally

  08-02-2015 16:00
  DUBAI, Feb 8 (Reuters) - Gulf stock markets rose on Sunday after oil made further gains and local companies reported mostly upbeat earnings and other positive news.
  
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• G20 finance chiefs to focus on fewer growth priorities

  08-02-2015 15:57
  ISTANBUL, Feb 8 (Reuters) - World financial leaders are likely to agree on Tuesday to cut the number of actions they will take this year to boost growth to only 5-10 priorities per country to make it...
  
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• WRAPUP 1-Leaders scramble to avert "dramatic spiral" in Ukraine

  08-02-2015 15:28
  MUNICH, Feb 8 (Reuters) - The leaders of Russia, Ukraine, Germany and France agreed to meet in Belarus on Wednesday to try to broker a peace deal for Ukraine amid escalating violence there and signs...
  
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• Greek leader to reject EU's austerity, lay out leftist program

  08-02-2015 15:00 via news.yahoo.com
  
  By Jeremy Gaunt ATHENS (Reuters) - New Greek Prime Minister Alexis Tsipras will lay out his radical left-wing government's policies in a speech later on Sunday, firmly rejecting any more austerity forced on his debt-strapped country by its euro zone partners. The speech will be closely watched by European Union leaders who to date have shown scant willingness to meet Tsipras's demands, fearing a wholesale backtracking on the fiscal and economic reforms international lenders have demand
  
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• UPDATE 1-Greek leader to reject EU's austerity, lay out leftist programme

  08-02-2015 14:59
  * Greece to negotiate with EU in coming week (Adds comments from advisers Lazard, UK finance minister)
  
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• AP-GfK Poll: Most now approve of Obama's job on unemployment

  08-02-2015 14:16 via news.yahoo.com
  
  WASHINGTON (AP) — Americans' views of President Barack Obama have improved slightly in the past two months, and opinions are more positive about the direction of the country and the health of the economy, an Associated Press-GfK poll finds.
  
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• INSIGHT-Growing U.S. hog herd, flat Chinese demand slams pork prices

  08-02-2015 14:00
  CHICAGO, Feb 8 (Reuters) - For decades, Chuck Souder relied on corn and soybeans to keep his 400-acre Iowa farm running, but with corn selling for half its price two years ago and soybeans slumping,...
  
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• UPDATE 2-Britain says Russia's Putin acting like "tyrant" over Ukraine

  08-02-2015 13:18
  * Rejects idea it's a 'diplomatic irrelevance' on Ukraine (Adds quotes, details)
  
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• Greek leader to reject austerity, lay out hard leftist program

  08-02-2015 13:17 via news.yahoo.com
  
  By Jeremy Gaunt ATHENS (Reuters) - New Greek Prime Minister Alexis Tsipras will lay out his radical left-wing government's policies in a speech later on Sunday, firmly rejecting any more austerity forced on his debt-strapped country by its euro zone partners. The speech will be closely watched by European Union leaders who to date have shown scant willingness to meet Tsipras's demands, fearing a wholesale backtracking on the fiscal and economic reforms international lenders have demand
  
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• Greek leader to reject austerity, lay out hard leftist programme

  08-02-2015 13:07
  ATHENS, Feb 8 (Reuters) - New Greek Prime Minister Alexis Tsipras will lay out his radical left-wing government's policies in a speech later on Sunday, firmly rejecting any more austerity forced on...
  
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• Spot Saudi riyal back near peg after equities rebound

  08-02-2015 13:06 via news.yahoo.com
  
  By Archana Narayanan DUBAI, Feb 8 (Reuters) - The Saudi Arabian riyal has moved back to very near its peg against the U.S. dollar in the spot market after a recovery in local equities prices reduced fund outflows, traders said. The dollar/riyal rate had climbed in recent weeks as high as 3.7605 - its highest level since January 2010, when markets were in the grip of the global financial crisis. Traders attributed the spot market volatility to the plunge of the Saudi stock market, which sank more
  
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• INSIGHT-Single-serve coffee coup saves beans, spares sink

  08-02-2015 13:00
  NEW YORK, Feb 8 (Reuters) - Stephen Shapiro says he "couldn't survive" without his Keurig single-serve coffee machine.
  
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• Bumpy stock market leads to surprise drop in hedging with VIX options

  08-02-2015 13:00
  NEW YORK, Feb 8 (Reuters) - The U.S. stock market has been a bumpier place for the last couple of months, but you would not know it to look at the activity in trading VIX options.
  
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• UPDATE 1-G20-Spurring growth centre stage as finance chiefs meet in Istanbul

  08-02-2015 12:30
  * Regulation, infrastructure financing also on agenda (Adds comment from Babacan, UBS chairman Weber)
  
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• INSIGHT-Ethiopia bets on grand projects in drive for industrial power

  08-02-2015 12:16
  ADDIS ABABA, Feb 8 (Reuters) - Chinese workers mingle with Ethiopians putting the finishing touches to a metro line that cuts through Addis Ababa, one of a series of grand state infrastructure...
  
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• UPDATE 1-Britain says Russia's Putin acting like "tyrant" over Ukraine

  08-02-2015 12:06
  LONDON, Feb 8 (Reuters) - Britain accused Russian President Vladimir Putin on Sunday of acting like a "tyrant" over Ukraine, but said Kiev's forces could not defeat Russia's army on the battlefield...
  
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• Britain says Russia's Putin acting like "tyrant" over Ukraine

  08-02-2015 11:40
  LONDON, Feb 8 (Reuters) - Britain on Sunday accused Russian President Vladimir Putin of acting like a "tyrant" over Ukraine, but said Kiev's forces could not defeat Russia's army on the battlefield...
  
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• Kerry denies split between U.S. and Europe on Russia policy

  08-02-2015 11:03
  MUNICH, Feb 8 (Reuters) - U.S. Secretary of State John Kerry denied on Sunday that a split has emerged between Washington and Europe over how to handle Russia, after leading U.S. senators sharply...
  
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• German minister criticises Russian counterpart for Munich remarks

  08-02-2015 10:52
  MUNICH, Feb 8 (Reuters) - German Foreign Minister Frank-Walter Steinmeier criticised his Russian counterpart on Sunday for weekend remarks at a security conference which he said had not contributed...
  
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• S.Africa's Eskom implements rolling blackouts for sixth day

  08-02-2015 10:45 via news.yahoo.com
  
  JOHANNESBURG (Reuters) - South African power utility Eskom will implement rolling blackouts from 8 am to 10 pm (0600-2000 GMT) on Sunday, the sixth consecutive day of power cuts to hit Africa's most developed economy. Eskom said in a statement it would restart controlled outages at "Stage 2", which means it has to reduce 2,000 megawatts from the grid as it tries to meet consumer demand of around 30,000 MW. "This is due to a shortage of generation capacity as several units are
  
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• UPDATE 2-Australian PM brings forward vote on leadership to Monday

  08-02-2015 10:38
  SYDNEY, Feb 8 (Reuters) - Australian Prime Minister Tony Abbott, fighting for his political life, said he would bring forward to Monday a meeting of his ruling party to consider a challenge to his...
  
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• Spurring growth center stage as finance chiefs meet in Istanbul

  08-02-2015 10:31 via news.yahoo.com
  
  By Nick Tattersall ISTANBUL (Reuters) - Finance ministers and central bankers face a tough task coordinating action to spur global growth at G20 meetings this week, with major economies running at different speeds and monetary policies diverging. Concern over the ability of the United States to sustain the global economy as most other parts of the world slow will be high on the agenda as the Group of 20 leading economies hold talks in Istanbul on Monday and Tuesday. With Greece's woes casti
  
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• Australian PM throws submarine tender open to domestic shipbuilder

  08-02-2015 10:30
  PERTH, Feb 8 (Reuters) - Australian Prime Minister Tony Abbott on Sunday promised the country's state-owned shipbuilder the option to tender for a lucrative submarine contract, seeking to shore up...
  
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• G20-Spurring growth centre stage as finance chiefs meet in Istanbul

  08-02-2015 10:25
  ISTANBUL, Feb 8 (Reuters) - Finance ministers and central bankers face a tough task coordinating action to spur global growth at G20 meetings this week, with major economies running at different...
  
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• Different delivery, one message to Greece's new leaders

  08-02-2015 10:00
  ROME/PARIS, Feb 7 (Reuters) - In Paris and Rome, it was sugar coated; in Berlin and Frankfurt unequivocal. But the message from European capitals to Greece's new leaders was the same at every stop on...
  
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• Oil crash to drag on booming Texas economy

  08-02-2015 08:58 via news.yahoo.com
  
  For the past five years, the economy of Texas has outperformed the rest of the United States, but the collapse in oil prices has left the Lone Star State facing its toughest test since the financial crisis. A 50 percent tumble in oil prices since June has prompted companies such as Royal Dutch Shell and Chevron to slash billions of dollars in worldwide investment. So far, only a handful of petroleum companies have filed layoff notices in Texas this year, and the Texas Workforce Commission actual
  
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• Alibaba's Ant Financial to buy 25 percent of India's One97

  08-02-2015 07:17
  (This story corrects paragraph 2 to make clear that the $500 million deal value includes an option to increase the stake next year)
  
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• China's imports slump, capping dismal January trade performance

  08-02-2015 07:09 via news.yahoo.com
  
  China's trade performance slumped in January, with exports falling 3.3 percent from year-ago levels while imports tumbled 19.9 percent, far worse than analysts had expected and highlighting deepening weakness in the Chinese economy. Largely as a result of the sharply lower imports - particularly of coal, oil and commodities - China posted a record monthly trade surplus of $60 billion. The data contrasted sharply with a Reuters poll which showed analysts expected exports to gain 6.3 percent
  
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• UPDATE 2-China's imports slump, capping dismal Jan trade performance

  08-02-2015 07:08
  * Slide in commodities imports contributes to record trade surplus (Writesthrough, adds analyst's quote, trade data details)
  
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• CORRECTED-UPDATE 1-Alibaba's Ant Financial to buy 25 pct of India's One97

  08-02-2015 07:07
  MUMBAI/SHANGHAI, Feb 5 (Reuters) - Ant Financial Services Group, an affiliate of China's Alibaba Group Holding Ltd , has agreed to buy 25 percent of Indian payment services provider One97...
  
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• Currency-hedged ETFs in vogue as investors clamor for more

  08-02-2015 07:03 via news.yahoo.com
  
  By Gertrude Chavez-Dreyfuss and Ashley Lau NEW YORK (Reuters) - U.S. investors spooked by wild swings in the foreign exchange market are piling into exchange-traded funds that strip out the local currency on their international equity portfolios, making them one of the most sought-after financial products in 2015. With the dollar having rallied more than 19 percent since the beginning of 2014, investors are seeing gains in overseas stock markets eaten up by losses against the greenback. "Pe
  
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• China January trade surplus a record high as exports slump

  08-02-2015 06:31 via news.yahoo.com
  
  China's monthly trade surplus rose 88 percent to reach a record 367 billion yuan ($59 billion) in January, as the country's imports plunged and exports fell sharply on sluggish demand, data said Sunday. Exports from the world's second-largest economy fell 3.2 percent year-on-year to 1.23 trillion yuan ($197 billion), China's custom's administration said on its website. China's imports fell 19.7 percent from a year earlier to 860 billion yuan ($138 billion), the larg
  
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• UPDATE 3-Three wounded in shooting at Pittsburgh area shopping mall

  08-02-2015 05:54
  PHILADELPHIA, Feb 7 (Reuters) - A gunman wounded three people at a Macy's department store in a shopping center outside Pittsburgh on Saturday in what police said was a shooting that targeted one of...
  
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• China January trade surplus up 88% to 367 billion yuan

  08-02-2015 04:43 via news.yahoo.com
  
  China's trade surplus rose 88 percent to reach 367 billion yuan in January, as the country's imports declined more rapidly than its exports, official data said on Sunday. Exports from the world's second-largest economy fell 3.2 percent year-on-year to 1.23 trillion yuan in January, while imports decreased 19.7 percent to 860 billion yuan, the General Administration of Customs said on its website. The latest figures come after China's trade surplus soared 47.2 percent in 2014
  
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• UPDATE 1-Australian PM brings forward vote on leadership to Monday

  08-02-2015 03:51
  SYDNEY, Feb 8 (Reuters) - Australian Prime Minister Tony Abbott, fighting for his political life, said he would bring forward to Monday a meeting of his ruling party to consider a challenge to his...
  
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• CORRECTED-What to Watch in the Week Ahead and on Monday, Feb. 9

  08-02-2015 03:49
  (Corrects entry on Inovalon Holdings to specify its major shareholders as Meritas Group Inc and Meritas Holdings LLC) Week Ahead The last week of earnings will dominate activity for the equity...
  
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• Australian windfarms face $13 billion wipeout from political impasse

  08-02-2015 02:14 via news.yahoo.com
  
  By Byron Kaye SYDNEY (Reuters) - Australia faces a A$17 billion ($13.3 billion) exodus of investment from its windfarm industry because of a political deadlock, threatening to deal the country a major economic blow and kill hopes of meeting a self-imposed clean energy target. Some 44 Australian windfarm projects, about half overseas-funded, have been shelved since a new conservative government said it wanted to cut state support for the industry a year ago, with investors and operators saying th
  
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• Ex-Goldman Sachs leader, 9/11 Museum founding chairman dies

  08-02-2015 02:03 via news.yahoo.com
  
  NEW YORK (AP) — John C. Whitehead, a Wall Street banker who led Goldman, Sachs & Co.'s international expansion in the 1970s and '80s and later was founding chairman of the National Sept. 11 Memorial & Museum, died Saturday. He was 92.
  
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• Australian windfarms face $13 bln wipeout from political impasse

  08-02-2015 02:00
  SYDNEY, Feb 8 (Reuters) - Australia faces a A$17 billion ($13.3 billion) exodus of investment from its windfarm industry because of a political deadlock, threatening to deal the country a major...
  
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• CORRECTED-Revel Casino sale in jeopardy after U.S. court order

  08-02-2015 01:56
  WASHINGTON, Feb 7 (Reuters) - The planned sale of the
  shuttered Revel Casino in Atlantic City, New Jersey, to a
  Florida developer has been thrown into jeopardy following a
  decision by a U.S. federal...
  
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