Finance news

• Blackberry launches new secure tablet

  14-03-2015 23:24
  March 14 (Reuters) - Seeking to extend its range of secure mobile devices, BlackBerry Ltd said on Saturday it was launching a high-security tablet, developed with International Business Machines Corp...
  
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• Miami hosts first Formula E electric car race in U.S.

  14-03-2015 22:25
  MIAMI, March 14 (Reuters) - Thousands of fans turned out on Saturday for the first Formula E electric car race in the United States, with organizers saying the event along downtown Miami's bayfront...
  
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• Airliner lands safely in Denver after blowing tire on takeoff

  14-03-2015 21:25
  DENVER, March 14 (Reuters) - A United Airlines turboprop plane landed safely after it returned to Denver International Airport on Saturday when the Kansas City-bound flight blew a tire on takeoff,...
  
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• Businesses upbeat on Egypt's chances at investment meeting

  14-03-2015 20:59 via news.yahoo.com
  
  SHARM EL-SHEIKH, Egypt (AP) — Corporate leaders offered upbeat assessments Saturday of Egypt's economic prospects and confidence in the government's ongoing efforts to streamline the country for business after four years of unrest, as companies signed billion dollar deals at a conference aimed at spurring investment.
  
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• Greek finance minister says some radical reforms could wait

  14-03-2015 19:31 via news.yahoo.com
  
  Greece's combative finance minister has ruled out a default "accident" and said the new radical left government could put on hold the implementation of some of its campaign promises to build confidence among its creditors. "We have made all the necessary provisions to ensure there is no accident," Yanis Varoufakis told reporters after a meeting of economic and finance leaders in northern Italy on Friday. He added that Greece's international creditors would "no
  
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• UPDATE 1-USDA reports virulent strain of avian flu in Kansas poultry

  14-03-2015 18:42
  CHICAGO, March 14 (Reuters) - The U.S. Department of Agriculture has identified the first infection of a virulent strain of avian flu in poultry in Kansas, confirming the virus has spread into a...
  
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• Griffin buys stake in Polish developer from billionaire Solowow

  14-03-2015 18:22
  WARSAW (Reuters) - Luxembourg's Griffin Real Estate and U.S. investment fund Pimco have agreed to buy Polish billionaire Michal Solowow's 41.55-percent stake in business space developer Echo...
  
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• BP signs $12 billion energy deal in Egypt

  14-03-2015 18:21
  
  SHARM EL-SHEIKH, Egypt (Reuters) - Oil company BP has signed an agreement to invest $12 billion in Egypt that will produce 3 billion barrels of oil equivalent, a joint statement from the company and...
  
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• USDA reports virulent strain of avian flu in Kansas poultry

  14-03-2015 17:30
  CHICAGO, March 14 (Reuters) - The U.S. Department of Agriculture has confirmed an infection of a virulent strain of avian flu in poultry in Kansas, the first case in a migratory bird route that runs...
  
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• Greek finance minister says some election vows can be put off

  14-03-2015 16:54 via news.yahoo.com
  
  Greece's combative finance minister has indicated that Athens' new radical left government is prepared to put some of its campaign promises on hold while it seeks to build confidence among its creditors. "Our programme is a programme for four years," Yanis Varoufakis told reporters after a meeting of economic and finance leaders in northern Italy on Friday. Greece's new radical government that came to power in January has alienated its international creditors by promisin
  
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• Europe's policymakers warn against excessive optimism over ECB's bond buying

  14-03-2015 16:32 via news.yahoo.com
  
  CERNOBBIO, Italy - (Reuters) - European policymakers warned on Saturday against excessive optimism following the launch of the European Central Bank's bond buying program, with Governing Council member Ignazio Visco saying interest rates could not remain near zero forever. The ECB began a program of buying sovereign bonds, or quantitative easing, on Monday with a view to supporting growth and lifting euro zone inflation towards its target of just under 2 percent. Visco, Italy's central banker, s
  
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• Long-term use of AstraZeneca heart drug brings benefits, some risks

  14-03-2015 16:00
  LONDON, March 14 (Reuters) - Long-term use of AstraZeneca's drug Brilinta can cut the risk of death, another heart attack or stroke in patients with a history of past attacks by 16 percent, a keenly...
  
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• Egyptian businessman says Cairo should fire slack civil servants

  14-03-2015 15:27 via news.yahoo.com
  
  By Stephen Kalin and Michael Georgy SHARM EL-SHEIKH (Reuters) - One of Egypt's top businessmen said on Saturday the country needs to fire inefficient civil servants to attract investment and strengthen the economy. Speaking at an international investment conference in the Red Sea resort of Sharm El-Sheikh, billionaire Naguib Sawiris, chairman of Orascom TMT Holding, said firm action was needed. "We're lucky we have these good performing ministers right now, but some of them are st
  
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• UAE's Dana Gas to invest $350 mln in Egypt

  14-03-2015 14:48 via news.yahoo.com
  
  By Stephen Kalin and Michael Georgy SHARM EL SHEIKH, Egypt (Reuters) - Dana Gas will invest $350 million in Egypt over the next 30 months and expects to receive outstanding arrears from the government by the end of 2016, the United Arab Emirates company's chief executive said on Saturday. The investments include drilling nearly 40 new development wells, a similar number of workovers on existing wells, building new pipelines and debottlenecking an existing plant, Patrick Allman-Ward told Reuters
  
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• Pension funds seek riskier, illiquid bets to make returns they need

  14-03-2015 14:12 via news.yahoo.com
  
  British pension funds are coping with low bond yields and high share prices by seeking riskier investments, in a hunt for the returns they need to meet their obligations to pensioners. Collectively managing at least 2.5 trillion pounds ($3.69 trillion), pension funds are reeling from six years of money-printing by central banks globally, which has depressed yields so much that some bonds even cost investors money to hold them. Speakers (Milan: BEC.MI - news) and delegates at a National Associati
  
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• Islamic Trade Finance Corp signs $3 bln oil products deal with Egypt

  14-03-2015 13:46 via news.yahoo.com
  
  SHARM EL-SHEIKH, Egypt (Reuters) - Islamic Trade Finance Corporation signed a $3 billion deal with Egypt on Saturday to help it import refined petroleum products. The agreement was announced at an international investment conference in the Red Sea resort of Sharm El-Sheikh, where billions of dollars in commitments have boosted President Abdel Fattah al-Sisi's efforts to delivery an economic recovery.
  
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• Top Egypt businessman says Cairo should fire slack civil servants

  14-03-2015 13:41 via news.yahoo.com
  
  By Stephen Kalin and Michael Georgy SHARM EL-SHEIKH (Reuters) - One of Egypt's top businessmen said on Saturday the country needs to fire inefficient civil servants in order to attract investment and strengthen the economy. Speaking at an international investment conference in the Red Sea resort of Sharm El-Sheikh, billionaire Naguib Sawiris, chairman of Orascom TMT Holding, said firm action was needed. "We're lucky we have these good performing ministers right now but some of the
  
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• Greece's Varoufakis says QE to fuel unsustainable equity rally

  14-03-2015 12:58 via news.yahoo.com
  
  The European Central Bank's bond purchases will create an unsustainable stock market rally and are unlikely to boost euro zone investments, Greek Finance Minister Yanis Varoufakis warned on Saturday. The ECB began a program of buying sovereign bonds, or quantitative easing, on Monday with a view to supporting growth and lifting euro zone inflation from below zero up towards its target of just under 2 percent. Bond yields in the currency bloc have collapsed, but record low interest rates so
  
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• India's Gandhi gets London statue near nemesis, Churchill

  14-03-2015 12:40 via news.yahoo.com
  
  By Andrew Osborn LONDON (Reuters) - A statue of Indian independence leader Mahatma Gandhi was unveiled on Saturday in London's prestigious Parliament Square, a space packed mostly with monuments to men who served the British Empire that Gandhi helped destroy. In an ironic twist noted by the Indian government, Gandhi's likeness now shares the same space as a statue of Britain's former leader Winston Churchill, who tried to thwart Indian independence and who despised Gandhi and his aims. Churchill
  
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• Germany invites Egyptian president for state visit: Handelsblatt

  14-03-2015 12:10 via news.yahoo.com
  
  FRANKFURT (Reuters) - Germany's economy minister on Saturday invited the Egyptian president for a state visit to Germany, the newspaper Handelsblatt reported in its online edition. Sigmar Gabriel handed over the invitation on behalf of German Chancellor Angela Merkel when he met Abdel Fatah al-Sisi on Saturday morning. "The state of the whole region depends on the stability or instability of Egypt," Gabriel told business representatives gathered for an investor conference in Schar
  
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• Greek euro exit would not raise risk for Italy - Italy economy minister

  14-03-2015 11:47
  CERNOBBIO, Italy, March 14 (Reuters) - A Greek exit from the euro zone would not represent a risk for Italy, the Italian economy minister said on Saturday, one day after the European Commission...
  
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• Egypt's Sawiris considers buy in Italy internet sector: Corriere della Sera

  14-03-2015 11:33
  
  ROME (Reuters) - Naguib Sawiris is considering making an acquisition in Italy's Internet sector, the Egyptian tycoon said in an interview published on Saturday.
  
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• Australia PM says to decide on China-backed bank membership soon

  14-03-2015 09:28
  SYDNEY, March 14 (Reuters) - Australia expects to make a decision within weeks on whether it will seek to join the China-backed Asian Infrastructure Investment Bank (AIIB), Prime Minister Tony Abbott...
  
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• Cuba reconciling with Paris Club after long divorce

  14-03-2015 08:42 via news.yahoo.com
  
  Cuba has begun reconciling with the Paris Club of creditor nations after a nearly three decade-long divorce, moving to put its financial house in order as it opens up to the world economy. "We are going to finish the reconciliation in a few more weeks, and some weeks or months later we will have a negotiation," said Bruno Bezard, the club's chair and the head of the French Treasury. There is a will from Cuba and its creditors' part to complete this work," said Bezard, wh
  
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• UPDATE 1-PepsiCo to invest $500 mln in Egypt this year

  14-03-2015 08:27
  SHARM EL SHEIKH, Egypt, March 14 (Reuters) - PepsiCo will invest $500 million in Egypt this year to expand production, its business unit manager for North East Africa said on Saturday.
  
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• IHH Healthcare scraps plan to buy India's Fortis Healthcare's Singapore unit

  14-03-2015 04:02 via news.yahoo.com
  
  KUALA LUMPUR (Reuters) - Malaysia's IHH Healthcare Bhd, Asia's largest hospital operator by stock market value, has scrapped its proposal to buy Singapore's Radlink-Asia Pte Ltd for 346.53 million ringgit ($93.31 million). The company said the deal fell through due to non-satisfaction of certain conditions in the sales and purchase agreement, according to a stock exchange filing to the local bourse late on Friday. Radlink-Asia, a unit of India's Fortis Healthcare Ltd, provides healthcare service
  
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• U.S. businesses avoiding Lumber Liquidators amid safety allegations

  14-03-2015 02:40
  CHICAGO, March 13 (Reuters) - A U.S. home improvement association and several individual contractors said on Friday they would recommend customers avoid Lumber Liquidators Holdings Inc, highlighting...
  
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• Probe of Ackman team over Herbalife campaign may go nowhere: legal experts

  14-03-2015 02:09
  
  NEW YORK (Reuters) - U.S. authorities investigating potential manipulation of Herbalife Ltd's shares by consultants working for billionaire investor William Ackman will find it difficult to prove...
  
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• Investors in 'patient panic' over Fed language

  14-03-2015 02:02 via news.yahoo.com
  
  Forget the 2013 "taper tantrum." U.S. stock markets are in the midst of a "'patient' panic" ahead of Wednesday's Federal Reserve statement, when many investors expect a change in the Fed's language that would send the clearest signal yet that a rate hike is coming soon. The S&P 500 has fallen 2.6 percent since February's stronger-than-expected jobs report a week ago boosted expectations for an interest rate increase as soon as June. Stocks may fal
  
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• Brazil government backers take to streets ahead of Sunday protests

  14-03-2015 01:59 via news.yahoo.com
  
  Pro-government labor unions and social activists staged demonstrations across Brazil on Friday in support of President Dilma Rousseff, two days before mass protests planned against her administration. The leftist leader is facing a wave of discontent over a stalling economy, unpopular budget cuts and a corruption scandal over kickbacks at oil company Petrobras that has implicated four dozen politicians from her governing coalition. The protests on Sunday could deepen a political crisis that has
  
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• Valeant plans to raise offer for Salix close to $170/share: source

  14-03-2015 01:22
  
  (Reuters) - Valeant Pharmaceuticals International Inc plans to raise its bid for Salix Pharmaceuticals Ltd close to $170 per share, a person familiar with matter told Reuters.
  
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• Mexico must work on macroeconomic consolidation-Stability Council

  14-03-2015 01:15
  MEXICO CITY, March 13 (Reuters) - Looming U.S. rate hikes are the main risk facing the Mexican economy, the country's Financial System Stability Council said on Friday, stressing the need to keep...
  
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• UPDATE 1-Valeant plans to raise offer for Salix close to $170/shr -source

  14-03-2015 01:07
  March 13 (Reuters) - Valeant Pharmaceuticals International Inc plans to raise its bid for Salix Pharmaceuticals Ltd close to $170 per share, a person familiar with matter told Reuters.
  
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• DIARY-Top Economic Events to March 27

  14-03-2015 01:01
  ** This Diary is filed daily ** ----------------------------------------------------------- TOP ECONOMIC EVENTS
  
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• UPDATE 2-Boston Scientific gets U.S. OK for Watchman heart device

  14-03-2015 00:58
  March 13 (Reuters) - Boston Scientific Corp said on Friday that the U.S. Food and Drug Administration approved its device to prevent stroke in patients with a dangerous irregular heart rhythm known...
  
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• Coyote Logistics prepares for IPO of more than $2 billion: WSJ

  14-03-2015 00:38
  (Reuters) - Transportation and logistics services company Coyote Logistics LLC is in talks with banks to prepare for an initial public offering, the Wall Street Journal reported on Friday, citing...
  
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• Coyote Logistics prepares for IPO of more than $2 bln -WSJ

  14-03-2015 00:36
  March 14 (Reuters) - Transportation and logistics services company Coyote Logistics LLC is in talks with banks to prepare for an initial public offering, the Wall Street Journal reported on Friday,...
  
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• UPDATE 2-Brazil will not step up intervention to buoy currency -sources

  14-03-2015 00:22
  BRASILIA, March 13 (Reuters) - Brazilian authorities will not bow to market pressure to increase support for the real despite the currency's sharp sell-off on Friday, four government sources told...
  
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• UPDATE 1-Siemens settles long-running dispute with Mexico's Pemex

  14-03-2015 00:16
  MEXICO CITY, March 13 (Reuters) - Germany's Siemens AG said on Friday it settled a longstanding dispute with Mexican state oil company Pemex over two public contracts linked to a South Korean company.
  
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• Boston Scientific wins U.S. approval for atrial fibrillation device

  14-03-2015 00:06
  March 13 (Reuters) - Boston Scientific Corp said the U.S. Food and Drug Administration on Friday approved its device to prevent stroke in patients with a dangerous irregular heart rhythm known as...
  
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