Finance news

• Spanish official slams Greece, says time 'running out'

  17-04-2015 23:47 via news.yahoo.com
  
  WASHINGTON (AP) — Spain's Economy Minister Luis de Guindos is criticizing Greece's left-wing government for its "not very coherent" approach to negotiations over its finances and economy.
  
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• Russia's Siluanov on G20 and IMF reforms

  17-04-2015 23:44
  WASHINGTON, April 17 (Reuters) - For highlights of remarks by finance ministers, central bankers and other top officials gathering in Washington on Friday for the spring meetings of the International...
  
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• UPDATE 1-Fannie, Freddie to hold 'g-fees' for mortgages at current levels

  17-04-2015 23:39
  WASHINGTON, April 17 (Reuters) - The regulator of Fannie Mae and Freddie Mac has directed the U.S. housing finance firms to tweak their structure for guarantee fees but said the changes would be...
  
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• G20 more upbeat on growth, but officials fret over Greece

  17-04-2015 23:27 via news.yahoo.com
  
  By Anna Yukhananov and Jason Lange WASHINGTON (Reuters) - The Group of 20 leading economies struck a hopeful tone on the outlook for global growth on Friday, even as officials fretted that Athens' inability to strike a deal with its lenders could upset Europe's tentative recovery. In a communique after a two-day meeting, G20 finance ministers and central bankers welcomed brighter economic signs in rich nations, but lamented weakness in emerging markets. "Risks to the global econom
  
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• Eurogroup head warns against a game of chicken with Greece

  17-04-2015 23:19
  WASHINGTON, April 17 (Reuters) - Greece and the euro zone should not play a game of chicken to see who can hold out longer in negotiations about more lending to Athens in exchange for reforms, the...
  
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• Justice Dept. staff may oppose Comcast-Time Warner Cable deal: Bloomberg

  17-04-2015 22:56
  
  (Reuters) - Staff attorneys at the Justice Department's antitrust division are nearing a recommendation to block the proposed $45 billion merger of Comcast Corp and Time Warner Cable Inc, Bloomberg...
  
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• UPDATE 2-Justice Dept. staff may oppose Comcast-Time Warner Cable deal-Bloomberg

  17-04-2015 22:53
  April 17 (Reuters) - Staff attorneys at the Justice Department's antitrust division are nearing a recommendation to block the proposed $45 billion merger of Comcast Corp and Time Warner Cable Inc,...
  
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• CANADA FX DEBT-C$ at strongest level since January on domestic data

  17-04-2015 22:46
  * Canadian dollar at $1.2228, or 81.78 U.S. cents * Bond prices mostly lower across the maturity curve * Loonie slips, but gains almost 3 pct on week TORONTO, April 17 (Reuters) - The Canadian dollar...
  
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• Youth e-cigarette data prompts new calls to speed regulation

  17-04-2015 22:43 via news.yahoo.com
  
  By Toni Clarke WASHINGTON (Reuters) - Public health advocates are stepping up pressure on the U.S. government to quickly regulate and restrict access to e-cigarettes after new data showed use of the products tripled among high school and middle school children last year. The figures released by the Centers for Disease Control and Prevention on Thursday raised concern among health officials who fear e-cigarettes will create a new generation of nicotine addicts who may eventually smoke conventiona
  
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• U.S. warns export giants not to rely too much on U.S. consumers

  17-04-2015 22:41 via news.yahoo.com
  
  WASHINGTON (Reuters) - The United States on Friday pressed the world's leading exporters, including Germany and Japan, to generate more economic growth within their borders, warning that the world could not rely too much on U.S. consumers.
  
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• GLOBAL MARKETS-Shares slide on China margin crackdown, dollar falls

  17-04-2015 22:39
  * Wall Street, European shares also hit by corporate earnings
  
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• France's Sapin says would like to see euro stability

  17-04-2015 22:26
  WASHINGTON, April 17 (Reuters) - It would be dangerous to leave the impression that Europe wanted the euro to decline further, French Finance Minister Michel Sapin said on Friday, adding that what...
  
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• Fitch Downgrades Russian Republic of Karelia to 'B+'; Outlook Stable

  17-04-2015 22:22
  (The following statement was released by the rating agency) MOSCOW, April 17 (Fitch) Fitch Ratings has downgraded the Republic of Karelia's Long-term foreign and local currency Issuer Default Ratings...
  
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• CEO says BTG Pactual overseas expansion showcases diversification

  17-04-2015 22:18
  SAO PAULO (Reuters) - Grupo BTG Pactual SA's push to grow outside Brazil is an attempt to seize opportunities created by the retreat of global investment banks, not the result of the economic woes...
  
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• U.S. urges Greece to strike deal with creditors

  17-04-2015 22:14 via news.yahoo.com
  
  The Obama administration on Friday urged Greece to move quickly with technical negotiations aimed at reaching agreement on bailout terms with the International Monetary Fund and European Union, saying a failure to strike a deal could hit the global economy. "We urge the (Greek) authorities to quickly and fully commit to technical negotiations with their international partners," U.S. Treasury Secretary Jack Lew said in a statement prepared for delivery at a meeting of the IMF's steering committee
  
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• UPDATE 1-PwC to pay $65 mln to resolve lawsuit over MF Global

  17-04-2015 22:10
  NEW YORK, April 17 (Reuters) - PricewaterhouseCoopers agreed
  to pay $65 million in cash to settle a lawsuit claiming it
  fraudulently deceived MF Global Holdings Ltd investors about its
  auditing of...
  
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• G20 powers fear volatile markets

  17-04-2015 21:21 via news.yahoo.com
  
  Finance officials from the G20 group of world economic powers expressed concern Friday about the risks of market and exchange rate volatility but avoided talk of Greece's financial plight. "This was not discussed during the official sessions of the G20," said Ali Babacan, the Turkish deputy prime minister and current G20 president. Fresh fears that Greece will not secure more bailout funding from the European Union before huge loan payments come due in have sent European equity ma
  
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• PwC to pay $65 mln to resolve lawsuit over MF Global

  17-04-2015 21:17
  NEW YORK, April 17 (Reuters) - PricewaterhouseCoopers has
  agreed to pay $65 million to resolve a lawsuit claiming it
  deceived investors when it was auditing MF Global Holdings Ltd,
  the now-defunct...
  
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• Obama defends pursuit of sweeping trade pact

  17-04-2015 21:12 via news.yahoo.com
  
  WASHINGTON (AP) — President Barack Obama on Friday defended his pursuit of a sweeping trade pact as good for American workers in a global economy, dismissing fierce opposition from his own party as a "ratification of the status quo."
  
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• Japan says didn't see strong G20 concern over weak yen

  17-04-2015 21:09 via news.yahoo.com
  
  WASHINGTON (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Friday the dominant view among Group of 20 finance leaders was that recent exchange-rate moves largely reflected economic fundamentals, while Japanese Finance Minister Taro Aso said he had not faced criticism from his G20 counterparts over the weak yen.
  
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• Global finance leaders see economy strengthening

  17-04-2015 21:02 via news.yahoo.com
  
  WASHINGTON (AP) — Financial officials from the world's major economies are welcoming modest improvements in the global economy while side-stepping fears rattling global financial markets that Greece will default on its bailout loans.
  
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• Teva considering potential bid for Mylan: Bloomberg

  17-04-2015 20:44
  
  (Reuters) - Teva Pharmaceuticals Industriesis considering a bid for Mylan NV , Bloomberg reported, citing people familiar with the matter.
  
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• Antitrust lawyers against Comcast-Time Warner deal: Bloomberg

  17-04-2015 20:37
  
  (Reuters) - Staff attorneys at the Justice Department's antitrust division are nearing a recommendation to block the proposed $45 billion merger of Comcast Corpand Time Warner Cable Inc , Bloomberg...
  
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• Exclusive: TPG appoints Sisitsky head of North American private equity - sources

  17-04-2015 20:27
  (Reuters) - TPG Capital LP has named Todd Sisitsky its new North American private equity head, people familiar with the matter said on Friday, as the firm seeks to secure money from investors for its...
  
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• Obama, Italy's Renzi press Greece to make reforms

  17-04-2015 20:01 via news.yahoo.com
  
  U.S. President Barack Obama and Italian Prime Minister Matteo Renzi on Friday urged Greek leaders to make economic reforms as they continue to see additional financial aid to shore up its economy. Financial constraints have become severe as Greek Prime Minister Alexis Tsipras asks foreign creditors to offer new aid.
  
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• G20 sees better global growth prospects, but with risks

  17-04-2015 19:58 via news.yahoo.com
  
  The Group of 20 leading economies on Friday said risks to the global economy had diminished with improved growth prospects in rich nations, but it warned of challenges from exchange rate volatility and geopolitical tensions to low inflation. "Risks to the global economy are more balanced since we last met," G20 finance ministers and central bankers said in a communique after a two-day meeting.
  
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• Democrats square off over trade negotiating bill

  17-04-2015 19:46 via news.yahoo.com
  
  Obama said during a news conference that some Democrats and labor unions would oppose the pact, while others "believe that we cannot stop a global economy at our shores." But he said previous trade agreements reached during his presidency did not divide the party. Congressional Democrats drew battle lines on Friday over a new bill that would give the White House "fast track" authority to negotiate the Trans-Pacific Partnership (TPP) with 11 other Pacific Rim countries, with s
  
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• Turkey's Babacan says U.S. Fed doing better on communication

  17-04-2015 19:36 via news.yahoo.com
  
  Turkish Deputy Prime Minister Ali Babacan said on Friday the U.S. Federal Reserve was doing a better job of communicating its policy intentions, adding that doing so was important for the global economy. "I think there is a broad consensus that the Federal Reserve is doing a much better job of communicating what future policies could be," Babacan told reporters following a meeting of G20 finance ministers and central bankers.
  
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• Wall Street tumbles, hit by weak earnings, China

  17-04-2015 19:16 via news.yahoo.com
  
  All ten major S&P 500 sectors lost ground, with the S&P Financials index losing 1.24 percent and the S&P Consumer Discretionary index off by 1.27 percent. "Today, it just seems the wall of worry is higher than it's been in a while because of Greece, oil, earnings and economic data from the past few days," said Jeffrey Carbone, senior partner, Cornerstone Financial Partners, in Cornelius, NC. Both Honeywell International and General Electric blamed the strong dollar for
  
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• EU to investigate transparency of Internet search results: document

  17-04-2015 18:59 via news.yahoo.com
  
  By Julia Fioretti BRUSSELS (Reuters) - Internet platforms such as Google, Microsoft and Yahoo! will be the subject of a widespread inquiry by European regulators to determine whether they are transparent enough in how they display search results. In a draft of the Commission's strategy for creating a digital single market, seen by Reuters, it says it will "carry out a comprehensive investigation and consultation on the role of platforms, including the growth of the sharing economy.&quo
  
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• European stocks slump on Greek worries

  17-04-2015 18:49 via news.yahoo.com
  
  Europe's main stock markets slumped Friday as investor worries intensified over the plight of Greece and they took profits after having pushed indices to highs levels, analysts said. Frankfurt's DAX 30 index tumbled 2.58 percent to 11,688.70 points, while the CAC 40 in Paris slumped 1.55 percent to 5,143.26 points. London's benchmark FTSE 100 index ended the day down 0.93 percent to 6,994.63 points. With London and Frankfurt recently hitting record highs and Paris touching seven-y
  
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• UPDATE 2-Brazil's Schahin says 28 units file for bankruptcy protection

  17-04-2015 18:48
  SAO PAULO, April 17 (Reuters) - Twenty-eight units of
  Brazilian engineering firm Grupo Schahin filed for bankruptcy
  protection on Friday as a corruption scandal at key client
  Petróleo Brasileiro SA...
  
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• South African stocks follow global markets down

  17-04-2015 18:33 via news.yahoo.com
  
  South African shares followed global stock markets lower on Friday, as traders grappled with an outage of Bloomberg financial terminals and fears of a regulatory clampdown on trading in China. Shares in media and e-commerce group Naspers Ltd, South Africa's biggest firm by value, led the decline, falling 3.4 percent as its fortunes are closely tied to those of China's Tencent Holdings, in which it holds a minority stake. Tencent, one of China's largest Internet companies, has been
  
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• Spanish government seeks distance from Rato affair

  17-04-2015 18:18 via news.yahoo.com
  
  Spain's government on Friday sought to distance itself from a money-laundering investigation into a former heavyweight of the ruling People's Party (PP), Rodrigo Rato, in an election year in which corruption has become a major theme. Customs agents searched the home and office of the former economy minister on Thursday. Rato is also a former head of the International Monetary Fund and was chairman of Bankia when the bank was bailed out by the state in 2012. Asked whether the PP was wor
  
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• UPDATE 3-Volkswagen CEO survives challenge from powerful chairman

  17-04-2015 18:14
  * Analysts say too early to write off Piech (Adds analyst comments, share price comparison and background)
  
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• G20 strikes hopeful tone, but officials fret over Greece

  17-04-2015 18:06 via news.yahoo.com
  
  The Group of 20 leading economies struck a hopeful tone on the outlook for global growth on Friday even as officials fretted that Athen's inability to strike a deal with its lenders could upset Europe's tentative recovery. In a draft of a communique to be released later in the day, G20 finance ministers and central bankers welcomed brighter economic signs in rich economies, but lamented over weakness in some emerging nations. "Risks to the global economy are more balanced since we
  
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• Europe stocks close sharply lower

  17-04-2015 17:50 via news.yahoo.com
  
  Paris (AFP) - Europe's main stock markets finished sharply lower on Friday, with London's benchmark FTSE 100 index ending the day down 0.93 percent to 6,994.63 points.
  
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• Brazil's Schahin files for bankruptcy protection in wake of scandal

  17-04-2015 17:35
  SAO PAULO, April 17 (Reuters) - Twenty-eight units of
  Brazilian engineering firm Grupo Schahin filed for bankruptcy
  protection on Friday as fallout from a corruption scandal at key
  client Petróleo...
  
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• InterContinental Hotel Group shares higher on merger chatter - traders

  17-04-2015 17:33
  LONDON, April 17 (Reuters) - Shares in Intercontinental Hotel Group turned positive in late trade on Friday, with traders citing market chatter that the hotel firm could be subject to a bid from a...
  
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• UPDATE 1-Schlumberger impresses with cost cuts, resilient margins

  17-04-2015 17:04
  April 17 (Reuters) - Schlumberger Ltd, the world's No.1 oilfield services provider, reported a smaller-than-expected fall in first-quarter margins as it continued to execute tight cost controls to...
  
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• S.Africa appoints top executive to help fight power crisis

  17-04-2015 16:44 via news.yahoo.com
  
  By Peroshni Govender JOHANNESBURG (Reuters) - South Africa's government on Friday appointed veteran public service executive Brian Molefe as acting CEO of its struggling power utility Eskom to help keep the lights on in Africa's most advanced economy. Molefe, who steps down as the chief executive of the state transport firm Transnet [TRAN.UL], replaces Tshediso Matona, who was suspended pending an inquiry into Eskom's mounting woes.
  
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• Greek worries weigh down European stocks

  17-04-2015 16:30 via news.yahoo.com
  
  Europe's main stock markets fell further on Friday as investor worries intensified over the plight of Greece, analysts said. In mid-afternoon deals, London's FTSE 100 index dropped 0.90 percent to 6,996.96 points. In foreign exchange activity, the European single currency shrugged of earlier gains to settle at $1.0766, nearly identical to its $1.0761 fixing late in New York on Thursday. The region's major indices had also slid Thursday on jitters over Greece, while London investor
  
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• Gauge of US economy rises 0.2 percent in March

  17-04-2015 16:17 via news.yahoo.com
  
  WASHINGTON (AP) — An index designed to predict the future health of the economy slowly crept upward for the third straight month, a sign that the pace of growth has been weakening since the start of 2015.
  
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• Japan and U.S. ministers to meet for trade talks before summit

  17-04-2015 16:13 via news.yahoo.com
  
  By Ami Miyazaki TOKYO (Reuters) - Japan and the United States will hold cabinet-level trade talks from this weekend, but are unlikely to seal a final deal, seen as crucial for a broader trans-Pacific free trade pact, by a summit this month, Japanese Economy Minister Akira Amari said on Friday. U.S. Trade Representative Michael Froman will discuss farm and car trade when he meets Amari in Tokyo on Sunday and Monday, Amari told reporters. A U.S.-Japan deal is considered vital to the success of a l
  
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• Pakistan stocks end higher; rupee strengthens, o/n rise

  17-04-2015 16:03
  KARACHI, April 17 (Reuters) - Pakistani stocks closed higher on Friday, the Karachi Stock Exchange 100-share index gained 1.52 percent, or 498.30 points, to close at 33,234.73.
  
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• South Africa aims for another 1,100 MW of green power

  17-04-2015 16:03 via news.yahoo.com
  
  South Africa will build 13 renewable projects to supply an extra 1,121 megawatts of electricity, the energy minister said, in a bid to ease power cuts in Africa's most advanced economy. Power utility Eskom cut power for the sixth straight day on Friday, as it grapples with one of its worst power outages in years. Renewable projects are seen as a quick way to add extra power compared with building new power stations. Energy minister Tina Joemat-Pettersson said in a statement she expects the finan
  
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• Schlumberger shares rise as cost cuts impress

  17-04-2015 15:52
  April 17 (Reuters) - Schlumberger Ltd's shares rose as much as 3.3 percent on Friday, after tight cost controls helped the world's No.1 oilfield services provider report higher-than-expected margins...
  
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• British unemployment rate at multi-year low ahead of election

  17-04-2015 15:25 via news.yahoo.com
  
  By William Schomberg and David Milliken LONDON (Reuters) - Britain's economy created the largest number of new jobs in nearly a year and unemployment hit its lowest rate since mid-2008, official labour market data showed on Friday, the last such report before a closely fought election on May 7. Prime Minister David Cameron hailed the numbers, which cover the three months to February, as underlining his government's "jobs miracle". The opposition Labour Party stressed the slow
  
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• UPDATE 2-Volkswagen CEO Winterkorn to stay in defeat for chairman

  17-04-2015 15:06
  * Patriarch Piech had pushed for CEO change (Adds Piech outvoted by panel, comments from analysts and VW labour boss and background)
  
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• Japan, U.S. set to hold cabinet-level trade talks before summit

  17-04-2015 15:05 via news.yahoo.com
  
  By Tetsushi Kajimoto and Stanley White TOKYO (Reuters) - Japan and the United States look set to hold cabinet-level trade talks in coming days as the allies race to seal a bilateral trade deal, seen as crucial for a broader trans-Pacific free trade pact, ahead of a summit this month. Economy Minister Akira Amari is to hold a news conference after 9 p.m. (8 a.m. EDT) on Friday, the government said after Kyodo News reported that U.S. Trade Representative Michael Froman will visit Tokyo to meet Ama
  
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