Finance news

• Tory or Labour victory poses risk to UK, says Henderson CEO - Sky

  20-04-2015 23:59 via news.yahoo.com
  
  (Reuters) - A victory for the Conservatives or Labour in Britain's general election would pose risks to the economy, with a Labour win jeopardising the UK's top-notch credit rating, the head of investment management company Henderson said, Sky News reported. Labour's broader approach "could be quite detrimental to business" and undermine Britain's economic stability, Henderson Chief Executive Officer Andrew Formica told Sky News in an interview.
  
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• Wall Street rallies on China stimulus ahead of tech earnings

  20-04-2015 23:02 via news.yahoo.com
  
  In the second industry-wide cut in two months, China's central bank on Sunday reduced the amount of cash that banks must hold as reserves in a move to help spur lending and combat slowing economic growth. The Information Technology component of the S&P 500 closed up 1.79 percent on Monday. The Dow Jones industrial average rose 208.63 points, or 1.17 percent, to end at 18,034.93, the S&P 500 gained 19.22 points, or 0.92 percent, to 2,100.4, and the Nasdaq Composite added 62.79 points
  
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• U.S. judge says Wells Fargo insider trading case may fall short

  20-04-2015 22:50
  
  NEW YORK (Reuters) - An administrative judge hearing an insider trading case against a former Wells Fargo & Co managing director cautioned on Monday that U.S. regulators may have fallen short of...
  
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• Shares gain on China stimulus; Greece worries weigh on euro

  20-04-2015 22:44 via news.yahoo.com
  
  Equity markets rebounded on Monday after China took steps to stimulate its economy and Wall Street also rose on corporate earnings, while the euro weakened further on worries about Greece. "It's primarily a snap-back rally from the very bad day Friday," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia, citing the news out of China and U.S. corporate earnings. The European Central Bank's vice president said on Monday that a country that defaul
  
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• Japan, U.S. say made significant trade progress before summit

  20-04-2015 22:14 via news.yahoo.com
  
  The United States and Japan made significant progress in trade talks over the past days, adding momentum to multilateral efforts toward a free-trade pact, both sides said on Tuesday. "Through these efforts, the gaps between the two sides have been substantially narrowed," U.S. Trade Representative Michael Froman said after two days of talks with Economy Minister Akira Amari. Amari told reporters the long-running bilateral talks had made enough progress to be welcomed at a summit on Apr
  
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• Wall Street ends up on China stimulus before tech earnings

  20-04-2015 22:03 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks ended higher on Monday, reversing much of the previous session's sharp decline, as China's steps to stimulate its slowing economy and cautious optimism about U.S. earnings lured investors into technology stocks.
  
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• Japanese economy minister says trade talks with U.S. in final stage

  20-04-2015 21:29 via news.yahoo.com
  
  Japan and the United States made enough progress in trade talks in recent days to give momentum to a Pacific-wide free-trade pact, Japan's Economy Minister Akira Amari said early Tuesday. This represents enough progress to be welcomed by Prime Minister Shinzo Abe and President Barack Obama when the leaders meet on April 28, he said. A bilateral deal is vital to the success of a 12-nation Trans-Pacific Partnership (TPP) trade pact.
  
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• Morgan Stanley posts highest profit since financial crisis

  20-04-2015 21:13
  
  (Reuters) - Wall Street investment bank Morgan Stanley reported its most profitable quarter since the financial crisis on Monday, boosted by higher revenue from trading bonds and equities.
  
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• BlackRock to pay $12 million in SEC conflict of interest case

  20-04-2015 21:06
  
  (Reuters) - BlackRock Inc, one of the world's largest asset managers, agreed to pay $12 million to resolve civil charges that one of its unit failed to disclose a conflict of interest created by one...
  
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• Exchanges, SIFMA go to SEC trial in battle over market data fees

  20-04-2015 20:45
  WASHINGTON (Reuters) - Wall Street's leading trade group went to battle on Monday against two top U.S. stock exchanges, arguing they should not have leeway to hike the fees they charge traders to...
  
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• Global shares gain on China stimulus, Greece worries weigh on euro

  20-04-2015 19:53 via news.yahoo.com
  
  Equity markets snapped back on Monday after China took steps to stimulate its economy, while the euro weakened amid worries about Greece and oil rose on Middle East tension. "China was part of a two-pronged news event that caused part of the selloff on Friday. The move over the weekend changed that perspective and caused a little bit of a boost today," said Randy Frederick, managing director of trading and derivatives for Charles Schwab in Austin. The European Central Bank's vice
  
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• Close to power, Finnish populists tone down anti-Athens policies

  20-04-2015 19:27 via news.yahoo.com
  
  By Jussi Rosendahl HELSINKI (Reuters) - Finland's eurosceptic Finns Party has the best chance of power in its 20-year history after coming second in Sunday's election, but its calls to throw Greece out of the euro zone may take a back seat to fixing the economy at home. The populist party of Timo Soini, a 52-year-old nationalist, ended up behind the opposition Centre Party of Juha Sipila, a millionaire businessman who will probably seek his support to form a coalition. "The Finns
  
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• GE in talks to sell lending, leasing portfolio to Wells Fargo: source

  20-04-2015 19:25
  
  (Reuters) - General Electric Co is in early-stage talks with Wells Fargo & Co about selling its entire $74 billion U.S. commercial lending and leasing (CLL) portfolio to the bank, according to a...
  
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• Bank of Canada's January rate cut seems enough: Poloz

  20-04-2015 18:32 via news.yahoo.com
  
  By Jonathan Spicer and Daniel Bases NEW YORK (Reuters) - The Bank of Canada's January interest-rate cut appears to have helped the economy get back on track, bank Governor Stephen Poloz said on Monday, repeating his view that the cut provided enough "insurance" against the impact of dropping oil prices. "That amount (of rate cut) seems to be about right to restore our track for the Canadian economy for the next year or so and to get the output gap to close late 2016," Po
  
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• China and Pakistan launch economic corridor plan worth $46 billion

  20-04-2015 18:07 via news.yahoo.com
  
  By Katharine Houreld ISLAMABAD (Reuters) - China and Pakistan launched a plan on Monday for energy and infrastructure projects in Pakistan worth $46 billion, linking their economies and underscoring China's economic ambitions in Asia and beyond. China's President Xi Jinping arrived in Pakistan to oversee the signing of agreements aimed at establishing a China-Pakistan Economic Corridor between Pakistan's southern Gwadar port on the Arabian Sea and China's western Xinjiang reg
  
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• Iran still respecting terms of interim nuclear deal: U.N. report

  20-04-2015 18:01 via news.yahoo.com
  
  Iran has continued to meet its commitments under an interim nuclear agreement with six world powers, a confidential United Nations nuclear agency report seen by Reuters showed on Monday. The monthly update by the International Atomic Energy Agency said Iran was not enriching uranium above a fissile concentration of 5 percent. It also said Iran had not made "any further advances" in its activities at two enrichment facilities and a heavy water reactor under construction. Under the Novem
  
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• Europe stocks higher on Chinese stimulus

  20-04-2015 17:59 via news.yahoo.com
  
  Paris (AFP) - Europe's main stock markets closed higher on Monday after China announced a raft of stimulus measures to bolster growth, with London's benchmark FTSE 100 index ending the day 0.82 percent up at 7,052.13 points.
  
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• Pulitzer Prizes set to be awarded honoring journalism, arts

  20-04-2015 17:52 via news.yahoo.com
  
  By Ellen Wulfhorst NEW YORK (Reuters) - The prestigious Pulitzer Prizes were set to be awarded on Monday, honoring top work in U.S. journalism, literature, drama and other arts. The celebrated prizes, awarded annually by Columbia University, can bring badly needed attention and recognition to newspapers and websites suffering from economic pressures and budget constraints. Last year, the Guardian US and Washington Post won the Pulitzer for public service for coverage of secret surveillance by th
  
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• Wall St. rallies on China stimulus, earnings

  20-04-2015 17:46 via news.yahoo.com
  
  U.S. stocks rose on Monday, reversing much of the previous session's sharp decline, as China's steps to stimulate its slowing economy and as earnings lured money back into equities. In the second industry-wide cut in two months, China's central bank on Sunday reduced the amount of cash that banks must hold as reserves in a move to help spur bank lending and combat slowing growth. "China was part of a two-pronged news event that caused part of the selloff on Friday. The move o
  
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• China's Xi launches $46 bn investment plan in Pakistan

  20-04-2015 17:28 via news.yahoo.com
  
  Chinese President Xi Jinping inaugurated a $46 billion investment plan in Pakistan on Monday that aims to create direct links between China and the Arabian Sea and boost the sluggish Pakistani economy. Islamabad and Beijing hope the China-Pakistan Economic Corridor (CPEC) will transform Pakistan into a regional economic hub and bring growth to the restive western Chinese region of Xinjiang. The corridor scheme is part of Beijing's "Belt and Road" plan to expand its trade and trans
  
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• BoC's rate cut provided needed boost to Canada: Poloz

  20-04-2015 17:10 via news.yahoo.com
  
  The head of the Bank of Canada said on Monday that January's interest-rate cut appears to have helped the economy get back on track, repeating that the central bank seems to have taken out enough "insurance" against the oil-price slide. BoC Governor Stephen Poloz said he expected to see the Canadian economy start to bounce back in the second quarter. He added that the biggest possible risk to Canada was a positive one: that the U.S. economy performs better than anticipated.
  
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• Global shares gain on China stimulus, dollar rises

  20-04-2015 17:06 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - Global equity markets snapped back on Monday from a worldwide decline the previous session on China's steps to stimulate its economy and solid corporate earnings, while the euro weakened amid worries that Greece may default. European stocks shrugged off declines in Asia where Chinese shares fell sharply on fears of a regulatory crackdown on the world's hottest stock market, which offset the People's Bank of China's most aggressive move yet
  
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• As Petrobras scandal spreads, economic toll mounts for Brazil

  20-04-2015 16:58 via news.yahoo.com
  
  ITABORAÍ, Brazil (Reuters) - For the 20 men hanging on at the Pousada do Trabalhador, a 600-bed boarding house on the dusty outskirts of this boom town northeast of Rio de Janeiro, the dream that Brazil's oil wealth would bring a better life was over. Their jobs at Comperj, a $15-billion oil refinery being built here in Itaboraí by state-run energy giant Petrobras , are gone, and their employer - a mid-sized engineering company - bankrupt. The men are the latest victims of Brazil's b
  
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• Israel's Check Point Software steps up expansion plans

  20-04-2015 16:46 via news.yahoo.com
  
  By Tova Cohen TEL AVIV (Reuters) - Network security provider Check Point Software Technologies plans to sharpen its focus on threat-prevention and mobile security, it said on Monday after posting better than expected first-quarter profit. Chief Executive Gil Shwed spoke of increased investment in new technologies and staff to cement the company's position of strength in a vibrant Israeli tech sector that accounts for about 12.5 percent of economic output and more than 50 percent of industrial ex
  
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• Japan's Daiichi Sankyo to sell up to $3.6 billion Sun Pharma stake

  20-04-2015 16:37
  
  MUMBAI (Reuters) - Japan's Daiichi Sankyo Company Ltdis selling shares worth up to $3.6 billion in Indian drugmaker Sun Pharmaceutical Industries Ltd , setting it on course to retreat from India...
  
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• Wall St. bounces back with eyes on earnings, China

  20-04-2015 16:12 via news.yahoo.com
  
  U.S. stocks rose on Monday, cutting into the previous session's sharp decline, as China's steps to stimulate its slowing economy and as earnings, including those from Morgan Stanley, lured money back into equities. In the second industry-wide cut in two months, China's central bank on Sunday reduced the amount of cash that banks must hold as reserves in a move to help spur bank lending and combat slowing growth. Morgan Stanley shares rose 1 percent to $37.11 after the Wall Street
  
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• U.S., European shares up after China stimulus but Greece weighs

  20-04-2015 16:07 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - European and U.S. stocks rose on Monday after China announced economic stimulus measures while the euro fell against the dollar on worries Greece may default. A hefty cut announced on Sunday in the amount of cash Chinese banks must keep in reserves aimed at boosting lending initially lifted shares in China and Japan but both gave up their gains to end lower as investors focused on new Chinese stock trading regulations unveiled last week. "What's hel
  
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• China, Pakistan launch economic corridor plan worth $46 billion

  20-04-2015 15:53 via news.yahoo.com
  
  By Katharine Houreld ISLAMABAD (Reuters) - China and Pakistan launched a plan on Monday for energy and infrastructure projects in Pakistan worth $46 billion, linking their economies and underscoring China's economic ambitions in Asia and beyond. China's President Xi Jinping arrived in Pakistan to oversee the signing of agreements aimed at establishing a Pakistan-China Economic Corridor between Pakistan's southern Gwadar port on the Arabian Sea and China's western Xinjiang reg
  
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• Nomad Holdings to buy UK frozen foods maker Iglo for $2.8 billion

  20-04-2015 15:47
  
  (Reuters) - Nomad Holdings Ltdsaid it would buy Iglo Foods Holdings Ltd, Europe's biggest frozen foods business and the company behind the Birds Eye brand, for about 2.6 billion euros ($2.8...
  
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• China, Pakistan launch economic corridor link

  20-04-2015 15:43 via news.yahoo.com
  
  By Katharine Houreld ISLAMABAD (Reuters) - China and Pakistan launched a plan on Monday for energy and infrastructure projects in Pakistan worth $46 billion, linking their economies and underscoring China's economic ambitions in Asia and beyond. China's President Xi Jinping arrived in Pakistan to oversee the signing of agreements aimed at establishing a Pakistan-China Economic Corridor between Pakistan's southern Gwadar port on the Arabian Sea and China's western Xinjiang reg
  
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• Indonesian leader woos investors at key Asia forum

  20-04-2015 15:34 via news.yahoo.com
  
  Indonesian President Joko Widodo turned on his man-of-the people charm at a key Asian business forum Monday, telling investors they could just give him a call if they ran into trouble. "Please come and invest in Indonesia -- if you have any problem, call me," he told business chiefs and government leaders at the World Economic Forum's Asia edition, who burst into laughter and applause. Widodo, who has won huge popularity thanks to his humble background and down-to-earth image, was
  
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• Wall St. opens up on China, corporate results

  20-04-2015 15:33 via news.yahoo.com
  
  (Reuters) - U.S. stocks opened higher on Monday, rebounding after a sharp decline in the previous session, as Chinese steps to stimulate its slowing economy and earnings from Morgan Stanley lured money back into equities.
  
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• Wall St. to rise at open with eyes on China, earnings

  20-04-2015 15:03 via news.yahoo.com
  
  U.S. stocks were set to open higher on Monday, following a sharp decline in the previous session, as Chinese steps to stimulate its slowing economy and earnings, including those from Morgan Stanley, lured money back into equities. In the second industry-wide cut in two months, China's central bank on Sunday reduced the amount of cash that banks must hold as reserves in a move to help spur bank lending and combat slowing growth. Morgan Stanley shares rose 1.5 percent in premarket trading aft
  
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• AirAsia plans $300 mn IPO for Indonesia unit in 2016

  20-04-2015 15:02 via news.yahoo.com
  
  Budget carrier AirAsia is planning an initial public offering for its Indonesian affiliate around the middle of next year and hopes to raise $300 million, AirAsia boss Tony Fernandes said Monday. The Malaysia-based carrier wants to expand its presence in fast-growing Indonesia. Indonesian President Joko Widodo has been keen to boost the number of foreign visitors as he seeks to lift an economy growing at five-year lows and draw in more foreign currency as the rupiah weakens.
  
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• Fed's Dudley hopeful on rate hike this year

  20-04-2015 14:45 via news.yahoo.com
  
  Economic performance will determine when the Federal Reserve finally raises U.S. interest rates from near zero, an influential Fed official said on Monday, adding he hopes to tighten policy later this year. "We have to see what unfolds," New York Fed President William Dudley said in a speech that repeated cautious optimism that the U.S. economy will continue to expand and that inflation will begin to firm later this year.
  
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• Japan, U.S. in for tough bilateral trade talks over rice, autos

  20-04-2015 14:28 via news.yahoo.com
  
  Japan and the United States continued the second of two days of tough trade talks on Monday that could pave the way for a broader trans-Pacific agreement, although Tokyo shrugged off expectations of a bilateral deal in time for a summit next week. Japanese Prime Minister Shinzo Abe, speaking on an evening news program in Tokyo, said negotiators were engaged in "intense" talks but that the discussion had narrowed to a few, lingering items. Access to Japan's rice market and the U.S.
  
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• Sri Lankan shares slip on profit taking

  20-04-2015 14:26
  COLOMBO, April 20 (Reuters) - Sri Lankan shares slipped on Monday from their more than one-month closing high hit in the previous session, as investors booked profits after three straight sessions of...
  
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• Costs for Germany's nuclear exit could rise to $75 billion

  20-04-2015 14:21 via news.yahoo.com
  
  The bill for shutting down Germany's nuclear power plants and building a safe disposal site for nuclear waste could rise to 70 billion euros ($75 billion), the head of a government commission told daily Frankfurter Rundschau in an interview E.ON, RWE, EnBW and Vattenfall [VATN.UL] are due to switch off their nuclear plants by a 2022 deadline set by Chancellor Angela Merkel's government after the Fukushima disaster in Japan in 2011. A decision by E.ON to restructure its business and spin off its
  
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• Pakistan stocks end higher; rupee strengthens, o/n fall

  20-04-2015 14:14
  KARACHI, April 20 (Reuters) - Pakistani stocks closed higher on Monday, buoyed by expectations that the visiting Chinese president would announce details of a $46 billion infrastructure and energy...
  
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• Indonesia's Widodo to investors: if you have a problem, call me

  20-04-2015 13:54 via news.yahoo.com
  
  President Joko Widodo urged investors on Monday to come to Indonesia, promising "incredible profits" and assuring them that if they run into any problems they can give him a call. Widodo, who was elected president six months ago amid hopes that he would bring much-needed reform to Asia's fifth-largest economy, has come under fire recently for failing to deliver radical change and a series of policy reversals. Addressing a World Economic Forum meeting in Jakarta, he conceded that I
  
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• Futures bounce back with eyes on China, Morgan Stanley

  20-04-2015 13:52 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stock index futures rose on Monday, following a sharp decline in the previous session, as Chinese steps to stimulate its slowing economy and earnings including those from Morgan Stanley lured money back into equities.
  
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• European stocks rally on China stimulus

  20-04-2015 13:51 via news.yahoo.com
  
  Europe's main stock markets rebounded Monday after China announced a raft of stimulus measures to bolster growth, eclipsing fears over Greece, dealers said. In late morning deals, London's FTSE 100 index jumped 0.73 percent to 7,045.80 points. "European markets were greeted with the news that China has taken a further step down the road of stimulus," said analyst Alistair McCaig at trading firm IG. China's central bank announced Sunday it would cut the reserve requiremen
  
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• TSX set for higher open ahead of U.S. corporate results

  20-04-2015 13:31 via news.yahoo.com
  
  (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Monday ahead of a busy week of U.S. corporate results. June futures on the S&P TSX index were up 0.27 percent at 7:15 a.m. ET. No major economic events are scheduled for the day. Canada's main stock ended moderately lower on Friday as some of the country's largest financial stocks retreated, while energy gains offset some of the damage. Energy shares managed to shrug off a decline in crude p
  
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• Britain's FTSE gains as China stimulus boosts miners

  20-04-2015 13:26
  LONDON, April 20 (Reuters) - Mining stocks helped Britain's top share index rebound on Monday, benefiting from stimulus measures in China to support stuttering growth in the world's biggest consumer...
  
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• UPDATE 1-Hasbro reports surprise rise in quarterly revenue

  20-04-2015 13:17
  April 20 (Reuters) - Toymaker Hasbro Inc reported a surprise increase in quarterly revenue, helped by strong growth in boys toys such as those based on characters in Transformers movies and Marvel...
  
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• Raytheon to buy cybersecurity firm Websense in $1.9 bln deal

  20-04-2015 13:15
  April 20 (Reuters) - U.S. arms maker Raytheon Co said it would buy cybersecurity provider Websense Inc from private equity firm Vista Equity Partners LLC for $1.9 billion, including debt.
  
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• RPT-Strike like it's 2011? Low copper prices loom large over wage talks

  20-04-2015 13:00
  SANTIAGO, April 20 (Reuters) - When Antofagasta Chief Executive Diego Hernandez took the stage at the world's biggest copper conference last week, he talked about the growing risks mining companies...
  
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• RPT-INSIGHT-For short-sellers in U.S. stocks, the agony just piles on

  20-04-2015 13:00
  NEW YORK, April 19 (Reuters) - In January 2014, veteran short-seller Bill Fleckenstein said he was readying a new fund to bet on falling stock prices. More than a year later, he's still waiting to...
  
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• Oman Feb bank lending growth 11.4 pct y/y, fastest since Jan 2013

  20-04-2015 12:59
  April 20 (Reuters) - Oman's bank lending growth accelerated to 11.4 percent year-on-year in February, the fastest rate since January 2013, from 11.1 percent in January 2015, central bank data showed...
  
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• CIB to submit offer for Citigroup's Egyptian retail portfolio

  20-04-2015 12:58
  CAIRO, April 20 (Reuters) - Egypt's Commercial International Bank (CIB) said on Monday its management had decided to submit a binding offer to acquire Citigroup's retail portfolio in Egypt.
  
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