Finance news

• FOREX-Sterling firmer in sleepy start to holiday week

  15-02-2015 23:53
  SYDNEY, Feb 16 (Reuters) - Sterling scaled a six-week peak early on Monday following recent hawkish-sounding comments from the Bank of England, while the other major currencies were subdued in a...
  
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• Honda to slow U.S. output due to West Coast ports dispute

  15-02-2015 23:45 via news.yahoo.com
  
  The company expects shortages at its operations in Ohio, Indiana and Ontario, Canada, starting Monday and for each plant to adjust its production between Feb. 16 and Feb. 23, spokesman Mark Morrison told Reuters by email. With cargo delays rippling through the U.S. economy, President Barack Obama on Saturday dispatched U.S. Labor Secretary Tom Perez to California to help broker an agreement between shipping companies and dock workers. It and other car makers have already been transporting some c
  
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• UPDATE 1-Honda to slow U.S. output due to West Coast ports dispute

  15-02-2015 23:41
  SAN FRANCISCO, Feb 15 (Reuters) - Japanese carmaker Honda Motor Co Ltd plans to slow production at some of its plants in North America due to a parts shortage caused by a partial shutdown of ports...
  
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• RPT-UPDATE 2-China Jan money growth slumps to record low, fuels policy loosening bets

  15-02-2015 23:30
  BEIJING, Feb 13 (Reuters) - China's growth in broad money supply slumped to its lowest on record in January even as new yuan loans hit a 5-1/2-year high, boosting bets that Beijing may further loosen...
  
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• UPDATE 5-Draft U.S. rules on commercial drones keep some limits on use

  15-02-2015 22:58
  NEW YORK, Feb 15 (Reuters) - The U.S. aviation regulator proposed rules on Sunday for commercial drone flights that would lift some restrictions but would still bar activities such as the delivery of...
  
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• GDP data to show Japan's economy out of recession

  15-02-2015 22:03 via news.yahoo.com
  
  By Leika Kihara TOKYO (Reuters) - Japan's economy likely rebounded from recession in the final quarter of last year, data on Monday is set to show, giving a much needed boost to premier Shinzo Abe's efforts to steer the country out of decades of stagnation. A return to steady growth will also allow the Bank of Japan to hold off on expanding monetary stimulus in coming months, even as slumping oil prices push inflation further away from its 2 percent target, analysts say. Preliminary gr
  
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• German anti-euro party wins first seats in western state

  15-02-2015 21:45 via news.yahoo.com
  
  Germany's anti-euro AfD party was Sunday set to win its first seats in a western state, boosting the populist group which has emerged amid the eurozone crisis to the right of Angela Merkel's conservatives. The Alternative for Germany scored about six percent in the city-state of Hamburg, just above the five-per cent threshold to enter parliament, public broadcasters projected. Since it was formed two years ago with a call for Europe's top economy to ditch the euro, the AfD has ent
  
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• Freighter backlog worsens outside major West Coast ports

  15-02-2015 19:35 via news.yahoo.com
  
  By Noel Randewich SAN FRANCISCO (Reuters) - Growing numbers of freighters were backed up around the United States' two busiest cargo hubs on Sunday due to a dispute between shipping companies and dock workers that has led to a partial shutdown of ports along the West Coast. With cargo delays rippling through the U.S. economy, President Barack Obama on Saturday dispatched U.S. Labor Secretary Tom Perez to California to help broker an agreement. By Sunday morning, 34 container ships, tankers an
  
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• Croatia's first female president sworn in

  15-02-2015 19:34 via news.yahoo.com
  
  Croatia's first female president Kolinda Grabar-Kitarovic pledged to help kickstart the country's ailing economy as she was sworn into office on Sunday. The 46-year-old conservative former foreign minister and NATO official narrowly defeated her left-wing predecessor Ivo Josipovic in an election run-off in January. "I will be a top economic diplomat of our country," she said in her inaugural speech, vowing to do her utmost "to make Croatia a wealthy nation". "A
  
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• Bahrain confirms six-month sentence for opposition official: lawyer

  15-02-2015 18:37 via news.yahoo.com
  
  A Bahrain appeals court on Sunday upheld a six-month prison sentence against a senior leader of the main Shi'ite opposition al-Wefaq group handed down last month over tweets about election financing, his lawyer said. Jameel Kadhim, a former parliament member and president of al-Wefaq's consultative council, was sentenced to six months in jail and fined 500 dinars ($1350) by a court in Manama on charges of making false allegations that undermined national elections. The public prosecutor at the t
  
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• Greece, EU negotiations tough, deal not certain- Greek official

  15-02-2015 17:04
  ATHENS, Feb 15 (Reuters) - Negotiations between Greece and its European partners at Monday's Eurogroup meeting will be tough and it is not certain that a deal can be reached, a Greek government...
  
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• WRAPUP 1-Greece confident ahead of EU meeting, but sticking to its no-austerity guns

  15-02-2015 16:44
  * Tsipras says in six months Greece will be "different country"
  
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• As Scott Walker mulls White House bid, a spotlight on his jobs agency

  15-02-2015 16:09 via news.yahoo.com
  
  By Andy Sullivan WASHINGTON (Reuters) - When Wisconsin Governor Scott Walker, a potential Republican presidential candidate, traveled on a trade mission to Britain last week, he brought along top officials from his economic development agency to help drum up jobs. The Wisconsin Economic Development Corporation, a public-private body set up by Walker shortly after he took office in January 2011, was supposed to help the state climb out of recession by shedding bureaucratic rules and drawing on pr
  
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• Greek prime minister "full of confidence" ahead of Eurogroup meeting

  15-02-2015 15:23
  BERLIN, Feb 15 (Reuters) - Greek Prime Minister Alexis Tsipras expects tough talks at a meeting of euro zone finance ministers on Monday over how to proceed with its international bailout but remains...
  
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• Slovak finmin sceptical all details on Greece can be agreed on Monday

  15-02-2015 13:32
  PRAGUE, Feb 15 (Reuters) - Slovak Finance Minister Peter Kazimir said on Sunday he was sceptical that a comprehensive deal on how to proceed with Greece and its debt pile can be reached at Monday's...
  
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• ECB has track record with funding stick it holds over Greece

  15-02-2015 13:06
  FRANKFURT, Feb 15 (Reuters) - With its power over emergency funding for banks, the European Central Bank wields a big stick that it has past form in waving to badger countries into the kind of...
  
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• ECB's Draghi says no sense in speculating on Greece exit from euro

  15-02-2015 12:59
  MADRID, Feb 15 (Reuters) - European Central Bank President Mario Draghi said in an interview published on Sunday that it made no sense to speculate on Greece abandoning the euro zone.
  
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• Malawi pleads with World Bank for donor support

  15-02-2015 12:55 via news.yahoo.com
  
  Malawian President Peter Mutharika pleaded Sunday with the World Bank to consider resuming aid to the poor southern African nation, saying it was in "desperate need of donor support". Donors who provide about 40 percent of Malawi's budget, pulled the plug on aid of around $150 million (110 million euros) after a report by British auditors showed that at least $30 million had been swindled from the government over a six-month period in 2013. "The country is facing numerous eco
  
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• Egyptian pound steady for eighth straight dollar sale

  15-02-2015 12:15 via news.yahoo.com
  
  Egypt sold dollars at 7.53 pounds per dollar on Sunday, the eighth central bank auction this month, as the pound weakened slightly on the black market. The bank began letting the official exchange rate weaken on Jan. 18 in an effort to wipe out black-market trading, but it has kept the rate steady for two weeks now.The bank's moves to pressure the black market come alongside government efforts to bolster the economy and burnish Egypt's image before a major investment conference next mo
  
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• UPDATE 1-Dubai World's debt restructuring gets 100 pct creditor backing

  15-02-2015 12:05
  * 2015 payment to be early, 2018 extended to 2022 with
  benefits
  
  (Adds detail, quote, context)
  
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• India's Modi says energy pledge not based on foreign pressure

  15-02-2015 11:54 via news.yahoo.com
  
  Prime Minister Narendra Modi said Sunday his commitment to ramping up India's renewable energy supplies is not aimed at "impressing the world" following international pressure to cut greenhouse gas emissions. Modi, who stormed to power at May elections pledging to reform the economy, said he was determined to meet the energy needs of India, which suffers regular blackouts and is heavily reliant on polluting coal to produce electricity. "Our stress on renewable energy is not a
  
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• UPDATE 1-Greece, EU see need for "national reform plan" to fix economy

  15-02-2015 11:40
  ATHENS, Feb 15 (Reuters) - Greece has agreed with its European partners that there needs to be a "national reform plan" to deal with decades-long issues of the economy, its government spokesman said...
  
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• Greece, EU agree on need for "national reform plan" to fix economy-Greek spokesman

  15-02-2015 11:01
  ATHENS, Feb 15 (Reuters) - Greece has agreed with its European partners that there needs to be a "national reform plan" to deal with decades-long issues of the economy, its government spokesman said...
  
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• Swiss banks trade Zurich's costly charm for Polish provinces

  15-02-2015 10:23 via news.yahoo.com
  
  By Marcin Goclowski and Wojciech Zurawski WARSAW/KRAKOW (Reuters) - Swiss financial titans UBS and Credit Suisse are expanding their operations in provincial Poland in a cost-saving drive made more urgent by the surge in the value of the Swiss franc. Economic imperatives are forcing the banks to transfer some of their functions to cheaper locations and swap lakeside Zurich, with its streets lined with luxury boutiques, for the rougher-edged charm of Krakow and Wroclaw. Poland's zloty has fa
  
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• Greece won't accept bailout programmes like past ones-spokesman

  15-02-2015 10:20
  ATHENS, Feb 15 (Reuters) - Greece is committed to not continuing an international bailout similar to the ones agreed with the EU and IMF by previous governments, its spokesman said on Sunday.
  
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• MIDEAST STOCKS-Petrochemicals boost Saudi on strong oil, earnings

  15-02-2015 10:17 via news.yahoo.com
  
  (Updates with Saudi Arabia, Egypt open) DUBAI, Feb 15 (Reuters) - Saudi Arabia's bourse rose in early trade on Sunday after oil prices rebounded further at the end of last week; Egypt's market also gained in a broad rally. Oil closed higher for a second straight week on Friday after another drop in the U.S. rig count, with Brent crude hitting a 2015 high above $60 a barrel. Saudi Arabia's main index rose 1.1 percent as most stocks gained. The largest stock on the bourse, Saudi Basic Industries C
  
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• South Africa's Eskom imposes second day of rolling blackouts

  15-02-2015 10:11 via news.yahoo.com
  
  South African power utility Eskom [ESCJ.UL] imposed a second day of "Stage 2" rolling blackouts on Sunday to ease pressure on the national grid and build up diesel supplies and water reserves in hydropower dams. "State 2" means the utility, which produces nearly all the electricity in Africa's most sophisticated economy, is reducing nationwide demand by 2,000 MW, out of normal demand of around 30,000 MW. Eskom said the cuts would last from 0600 GMT to 2000 GMT. South Afr
  
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• Greeks brim with pride as country totters on the edge

  15-02-2015 09:00
  ATHENS, Feb 15 (Reuters) - For over a fortnight, Europe's single warning to Greece has been that the chaos and misery of national bankruptcy await it unless its new left-wing government changes its...
  
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• U.S. companies pledge to build 20 GW of renewable energy in India

  15-02-2015 08:40 via news.yahoo.com
  
  U.S.-based SunEdison and First Solar on Sunday committed to build more than 20,000 megawatts of clean energy capacity in India by 2022, a boost for Prime Minister Narendra Modi's efforts to meet ambitious renewable targets. The companies announced the plans at the beginning of India's first major renewable energy conference, where Modi's government is trying to drum up support from investors to reach a target of 100,000 megawatts of solar power by 2022, a 33-fold rise from today's level. SunEdi
  
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• Dubai World has 100 pct creditor assent for $14.6 bln debt deal -court

  15-02-2015 08:24
  DUBAI, Feb 15 (Reuters) - State-owned conglomerate Dubai
  World has received approval from all creditors for a
  $14.6 billion restructuring plan, and the court administering
  the process has been...
  
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• U.S. appears ready to make commercial drone flights much easier

  15-02-2015 07:35 via news.yahoo.com
  
  U.S. aviation regulators are preparing to ease commercial restrictions on small drones under a draft rule to be released Sunday, according to regulators and a government analysis that leaked over the weekend. The U.S. Federal Aviation Administration and U.S. Department of Transportation said late Saturday that they had scheduled a news conference for 10 a.m. ET Sunday to release the draft rule. The unusual weekend release was scheduled after an economic analysis of regulation was inadvertently p
  
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• U.S. agency fixes problem hampering Obamacare applications

  15-02-2015 03:11 via news.yahoo.com
  
  A day before the open enrollment deadline for private health coverage under Obamacare, some consumers were unable to submit applications because of "intermittent issues" with income verification, the U.S. Health and Human Services Department said on Saturday. It said in a statement that it had worked with the Internal Revenue Service to fix the problem. The department said consumers who were affected should log into their account on the HealthCare.gov website and click on their 2015 ap
  
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• CFO Yoshida's Sony revamp wins over investors, tough decisions loom

  15-02-2015 03:00
  TOKYO, Feb 15 (Reuters) - Months after Sony Corp bought So-net, the broadband provider's chief chided CEO Kazuo Hirai for having his "priorities in the wrong order".
  
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• Swedish bond-buying could tempt Nordic neighbours

  15-02-2015 01:12 via news.yahoo.com
  
  Sweden's new bond-buying plan to stave off falling prices could trigger a round of money printing by its fellow non-eurozone neighbours to thwart untimely currency rises against the weakening euro, analysts say. The Swedish central bank's historic cut of its base-interest rate to -0.1 percent on Thursday was accompanied by the first outright quantitative-easing programme adopted by a smaller economy. Sweden's move comes as central banks across Europe are fighting to stop their eco
  
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• Puerto Rico bankruptcy bill to get U.S. House hearing -sources

  15-02-2015 00:37
  Feb 14 (Reuters) - A long-shot bill to give Puerto Rico's ailing public agencies a chance to restructure their massive debts under the section of U.S. bankruptcy law used by cities such as Detroit...
  
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