Finance news

• UPDATE 7-Charter's $56 bln Time Warner Cable deal to face U.S. scrutiny

  26-05-2015 23:54
  * Time Warner Cable's shares up 7.1 pct, Charter up 2.7 pct (Adds commentary about likelihood of regulatory approval starting in paragraph 8)
  
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• Exclusive: Before Myanmar seized migrant boat, Rohingya whisked away

  26-05-2015 23:04 via news.yahoo.com
  
  By Timothy Mclaughlin and Antoni Slodkowski YANGON/THEK KAY PYIN, Myanmar (Reuters) - When the Myanmar navy seized a boat used by people smugglers last week, it announced that the 200 people found aboard were mostly Bangladeshis seeking better economic prospects in Southeast Asia. The message was clear - that very few of the people on the boat, and by extension in the wave of Asian "boatpeople" drifting on the Bay of Bengal and the Andaman Sea, were members of Myanmar's Rohingya m
  
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• Slumping energy sector leads a broad sell-off in US stocks

  26-05-2015 22:47 via news.yahoo.com
  
  NEW YORK (AP) — The stock market endured its worst day in three weeks on Tuesday as investors fretted over Greece's debt crisis and a surge in the U.S. dollar.
  
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• Wall Street drops on rate concerns, Greece

  26-05-2015 22:38 via news.yahoo.com
  
  U.S. stocks fell on Tuesday, pushing the S&P 500 to its biggest decline in three weeks, weighed down by concerns about Greece and some upbeat data that fuelled expectations that a U.S. rate hike could come sooner rather than later. All 10 major S&P 500 sectors were lower, with a drop in oil prices weighing on energy shares and transportation stocks. The S&P energy index was down 1.6 percent, while the Dow Jones transportation average fell 1.6 percent and touched its lowest level sinc
  
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• U.S. Supreme Court ruling endorses role of bankruptcy judges

  26-05-2015 22:25
  May 26 (Reuters) - The U.S. Supreme Court ruled on Tuesday
  that bankruptcy judges can resolve disputes that otherwise would
  have to be decided in a federal court, in an opinion tied to the
  legal...
  
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• Wall St. falls on concerns about Europe, U.S. rate hike

  26-05-2015 22:08 via news.yahoo.com
  
  (Reuters) - U.S. stocks fell on Tuesday, pushing the S&P 500 to its biggest percentage drop in three weeks on Tuesday, weighed down by concerns about Greece's financial crisis and some upbeat U.S. economic data that fueled expectations a rate hike could come sooner rather than later.
  
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• Merrill: Here’s how to tap into Millennials’ burgeoning influence

  26-05-2015 20:55 via news.yahoo.com
  
  The Millennial generation is morphing into an economic powerhouse: Here's how to position your portfolio for the trend.
  
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• UPDATE 1-Opening statements start in criminal trial of ex-Dewey executives

  26-05-2015 20:54
  May 26 (Reuters) - Nearly three years after the demise of
  law firm Dewey & LeBoeuf, a Manhattan prosecutor opened the
  criminal trial of three of the firm's former executives on
  Tuesday by accusing...
  
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• Fed rate hikes may trigger global volatility: Fischer

  26-05-2015 20:28 via news.yahoo.com
  
  By Ari Rabinovitch TEL AVIV (Reuters) - When the Federal Reserve raises U.S. interest rates for the first time in nearly a decade, it should weigh the effects on global economies and can expect some bouts of financial market volatility, a top Fed official said on Tuesday. "In the normalizing of its policy, just as when loosening policy, the Federal Reserve will take account of how its actions affect the global economy," U.S. Federal Reserve Vice Chairman Stanley Fischer said in Israel.
  
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• Top Fidelity stockpicker: Financial markets are 'colossally artificial'

  26-05-2015 20:18
  BOSTON (Reuters) - Fidelity's Joel Tillinghast, one of the mutual fund industry's best stockpickers over the past 20 years, said financial markets are "colossally artificial" and cited ride-sharing...
  
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• 5 people give their 2 cents to Alberta's new energy minister

  26-05-2015 20:17 via news.yahoo.com
  
  Marg McCuaig-Boyd might just have the hardest job in Alberta right now. Like all the new NDP cabinet ministers, she has a steep learning curve ahead of her. But McCuaig-Boyd will also face extraordinary scrutiny as she feels her way through the next few months. Scrutiny from an energy industry that is going through a bust, from investors on Wall Street, politicians in Washington DC, and environmentalists around the world.
  
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• Iran nuclear deal unlikely by June 30, French envoy

  26-05-2015 19:37 via news.yahoo.com
  
  By Arshad Mohammed WASHINGTON (Reuters) - An Iran nuclear deal is not likely by June 30 because technical details will remain to defined and Iran will not get sanctions relief before the end of the year in the best of cases, western ambassadors said on Tuesday. Six major powers are seeking to negotiate an agreement under which Iran would limit its nuclear program in exchange for the easing of economic sanctions that have crippled its economy. "It’s very likely that we won’t have an agre
  
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• Fed will consider global impact when raising rates: Fischer

  26-05-2015 19:26 via news.yahoo.com
  
  As the Federal Reserve lays the ground to raise U.S. interest rates for the first time in nearly a decade, it should weigh the effects of its decisions on global economies and expect some bouts of volatility in financial markets, a top Fed official said on Tuesday. "The U.S. economy and the economies of the rest of the world have important feedback effects on each other," U.S. Federal Reserve Vice Chairman Stanley Fischer said in Israel. Fed Chair Janet Yellen last week signaled the U.
  
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• Rosenberg says strong possibility Fed does not raise rates this year

  26-05-2015 19:24 via news.yahoo.com
  
  (Reuters) - David Rosenberg, chief economist and strategist of Canadian asset manager Gluskin Sheff, said on Tuesday he believes there is a strong possibility the U.S. Federal Reserve will not raise interest rates this year. "I'm not going to say this economy is strong," Rosenberg told Reuters. "To me, the bar is set fairly high." Rosenberg joins a growing list of investors, strategists and economists who believe the Fed could hold off raising short-term interest rates until 2016. (Reporting By
  
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• Top-rated 529 college savings plans probably are not for you

  26-05-2015 19:19
  
  LOS ANGELES (Reuters) - Judging by the latest performance rankings, two 529 college savings plans in particular look enticing. Too bad that most Americans are not allowed to invest in either one.
  
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• Fed must consider global impact when raising rates: Fischer

  26-05-2015 19:05 via news.yahoo.com
  
  The Federal Reserve should weigh the impact of its policy decisions on global economies and should expect spillovers back to the U.S. economy once it starts raising interest rates, a top Fed official said on Tuesday. "The U.S. economy and the economies of the rest of the world have important feedback effects on each other," U.S. Federal Reserve Vice Chairman Stanley Fischer said in the text of remarks being delivered in Israel. "To make coherent policy choices, we have to take the
  
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• Boomers, It's Time to Cash Out of This Bubble

  26-05-2015 18:55 via news.yahoo.com
  
  Investors are complacent, with Deutsche Bank Chief U.S. Equity Strategist David Bianco (one of Wall Street’s most bearish forecasters for much of 2014) now estimating we're moving into mania territory last seen in late 2007 and early 2008, based on the ratio of the price-to-earnings multiple and the CBOE Volatility Index. As I'll explain below, that makes this the perfect time for smart baby boomers to cash out. The movement of interest rates can control the flow but cannot stem the tide.
  
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• More than 22% of Spaniards in poverty in 2013: data

  26-05-2015 18:48 via news.yahoo.com
  
  More than 22 percent of people in Spain were living in poverty in 2013, the year the country's recession officially ended, new official data showed Tuesday. After the economic crisis, Spain's unemployment rate remains extremely high and the government has acknowledged that the recovery has yet to reach the poorest. The latest poverty figures from the National Statistics Institute were a reminder of its deep impact on poor families.
  
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• Nigeria paying $800 million to oil suppliers to end crisis

  26-05-2015 18:41 via news.yahoo.com
  
  LAGOS, Nigeria (AP) — Oil suppliers say Nigeria's outgoing government has agreed to pay $800 million to end a fuel crisis crippling the economy just days before the inauguration of a new president Friday in Africa's biggest oil producer.
  
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• Big Data: The Savior of Employee Engagement

  26-05-2015 18:27 via news.yahoo.com
  
  Last week, we predicted that Big Data would herald the return of inside sales coaching. Today, we forecast its impact on a universal management issue: employee engagement. Last month, the Wall Street Journal published a provocative article, entitled, “Data is the New Middle Manager.” The major focus of the article is a recent phenomenon taking place in startups: Forgo […]
  
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• Only new refugees to benefit from EU quotas in migrant crisis: draft

  26-05-2015 18:19 via news.yahoo.com
  
  By Robin Emmott BRUSSELS (Reuters) - The European Union will consider new refugees reaching Italy and Greece in its migrant quotas, not those already in camps, according to a proposal seen by Reuters to be presented on Wednesday, a concession to EU governments against the plan. Seeking to share out asylum-seekers fleeing chronic conflict in Africa and the Middle East, the EU executive's proposals have been met with scepticism from governments that are facing rising anti-immigrant sentiment
  
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• FTSE sets 2-week closing low, commodity and banking stocks weigh

  26-05-2015 18:15
  LONDON, May 26 (Reuters) - Britain's top share index hit a two-week closing low on Tuesday, with banks slipping after Spanish regional election results put euro zone financials on the back foot,...
  
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• SE Asia must help farmers adapt in face of mounting disasters: Oxfam

  26-05-2015 18:11 via news.yahoo.com
  
  Southeast Asian governments must help farmers find better ways to grow food in the face of worsening droughts, storms and sea level rise that are threatening the region's agricultural output and pushing people into poverty, Oxfam said on Tuesday. As the 10 countries of the Association of Southeast Asian Nations (ASEAN) integrate into a single economic market - allowing for freer flow of goods, labor and capital - they must help farmers adapt to climate change and practice sustainable agriculture
  
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• World has no choice but to decarbonize: U.N. climate chief

  26-05-2015 18:10 via news.yahoo.com
  
  By Megan Rowling BARCELONA (Thomson Reuters Foundation) - Responding to climate change in the next 15 years is the world's "mega development project", given the need to invest trillions of dollars in infrastructure, creating jobs and economic stability, the United Nations' top climate change official said on Tuesday. "It makes fundamental economic sense" for countries to push forward on tackling climate change because of the benefits it will bring in terms of food,
  
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• LVMH says in talks to buy Le Parisien newspaper

  26-05-2015 18:00 via news.yahoo.com
  
  PARIS (Reuters) - French luxury goods group LVMH said on Tuesday it was in exclusive negotiations with Amaury Group to buy French daily newspaper Le Parisien. LVMH, which already owns economic daily Les Echos, said the acquisition was subject to consideration by the Amaury works council and was conditional upon approval by the relevant competition authorities. "This well-known and respected publication would make a material contribution to our group through its strong complementarity with o
  
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• Dollar rallies on data, Europe woes; stocks, commods fall

  26-05-2015 17:56 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - The U.S. dollar rallied on Tuesday after a string of healthy economic data boosted near-term rate hike prospects, while Greece's financial crisis and signs of growing opposition to austerity in Spain weighed further on the euro. Other reports showed U.S. consumer confidence improved this month and house prices extended gains in March, which should boost household equity, support consumer spending, and allow the Federal Reserve to move ahead in its plan
  
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• Nigeria fuel distribution resumes but disruption persists

  26-05-2015 17:36 via news.yahoo.com
  
  Fuel supplies slowly resumed in Nigeria on Tuesday after a strike by fuel marketers was called off, but long queues at petrol stations and interruptions to businesses persisted in Africa's biggest economy and oil producer. The dispute, which ended on Monday, brought much of Nigeria to a standstill as private generators that produce most of the electricity for the nation's 170 million inhabitants ran out of fuel, days before the inauguration of Muhammadu Buhari as the new president on M
  
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• Solid business spending plans offer ray of hope for factories

  26-05-2015 17:34 via news.yahoo.com
  
  A gauge of U.S. business investment spending plans increased solidly for a second straight month in April, a hopeful sign for manufacturing activity after a long spell of weakness. The overall economy is gradually firming, with other reports on Tuesday showing consumer confidence perking up this month and house prices extending gains in March, which should boost household equity and support consumer spending. The Commerce Department said non-defense capital goods orders excluding aircraft, a clo
  
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• Angel Gurria re-elected to third term as OECD chief

  26-05-2015 17:32 via news.yahoo.com
  
  Former Mexican Finance Minister Angel Gurria was re-elected secretary general of the Organisation for Economic Cooperation and Development (OECD) Tuesday, giving him a further six years to press his agenda of innovation. Initially elected to the post in 2006, Gurria has pursued his objective of transforming the once-somnolent, deeply wonkish OECD into an agenda-setting source of research closer to the lives of real people and fast-moving societies. "I am honoured and humbled by the trust an
  
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• African observers say Ethiopia poll credible, opposition cries foul

  26-05-2015 17:15 via news.yahoo.com
  
  By Aaron Maasho ADDIS ABABA (Reuters) - African Union observers said on Tuesday that Ethiopia's parliamentary election held on Sunday was credible except for a few irregularities, but the opposition dismissed the vote as marred by violations including ballot box theft. Provisional results in Africa' second most populous nation are due later this week and few expect anything but a landslide for the ruling Ethiopian People's Revolutionary Democratic Front (EPRDF) coalition, in power
  
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• U.S. stocks fall the most in three weeks as dollar soars

  26-05-2015 17:11 via news.yahoo.com
  
  "A strong dollar is going to hurt exports and the revenue line of companies, which wasn't strong to begin with," said Rick Fier, director of trading at Conifer Securities in New York. The buoyant data comes after Federal Reserve Chair Janet Yellen said on Friday that the central bank could raise interest rates this year if the economy keeps improving as expected. At 11:01 a.m. ET (1501 GMT) the Dow Jones industrial average was down 183.94 points, or 1.01 percent, at 18,048.08, the
  
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• TSX retreats as greenback rally pressures commodity prices

  26-05-2015 17:08 via news.yahoo.com
  
  By Solarina Ho TORONTO (Reuters) - Canada's main stock index stumbled on Tuesday, with gold mining and energy stocks bruised by slumping gold and crude prices following a U.S. data-driven rally in the greenback. After a lackluster first quarter, the U.S. economy was showing signs of getting back on track following better-than-expected durable goods orders. The more upbeat data could help push the Federal Reserve closer to deciding when it will resume hiking interest rates. "Surprisingl
  
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• Here’s Why Your Breakfast Just Got Way More Expensive

  26-05-2015 16:44 via news.yahoo.com
  
  You’re going to have to start shelling out a lot more for your eggs. U.S. farmers in 20 states have killed more than 40 million chickens and turkeys since December, including about a third of the commercial, egg-laying birds in Iowa, as the United States experiences its biggest-ever bird flu outbreak. The diminishing poultry population has led to an egg supply crunch, pushing prices some 85 percent higher, according to The Wall Street Journal.
  
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• Solid U.S. business spending plans offer ray of hope for factories

  26-05-2015 16:40 via news.yahoo.com
  
  A gauge of U.S. business investment spending plans increased solidly for a second straight month in April, a hopeful sign for manufacturing activity after a long spell of weakness. The overall economy is gradually firming, with other reports on Tuesday showing consumer confidence perking up this month and house prices extending gains in March, which should boost household equity and support consumer spending. The Commerce Department said non-defense capital goods orders excluding aircraft, a clo
  
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• More Swiss banks to settle with U.S. DoJ in near future: official

  26-05-2015 16:38
  
  GENEVA (Reuters) - More Swiss banks are expected to settle with the U.S. Department of Justice "in the near future" to avoid prosecution on charges of helping U.S. account holders hide their assets...
  
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• Media CEOs dominate ranks of top-paid executives

  26-05-2015 16:35 via news.yahoo.com
  
  NEW YORK: — They’re not Hollywood stars, they’re not TV personalities and they don’t play in a rock band, but their pay packages are in the same league. Six of the 10 highest-paid CEOs last year worked in the media industry, according to a study carried out by executive compensation data firm Equilar and The Associated Press. The best-paid chief executive of a large American company was David Zaslav, head of Discovery Communications, the pay-TV channel operator that is home to “Shark W
  
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• Britain's FTSE falls, energy and banking stocks weigh

  26-05-2015 16:30
  LONDON, May 26 (Reuters) - Britain's top equity index fell on Tuesday, with banking stocks coming under pressure after regional election results in Spain put euro zone financials on the back foot,...
  
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• Greek concerns haunt euro, stocks

  26-05-2015 16:15 via news.yahoo.com
  
  LONDON: The euro slid Tuesday and European stock markets struggled on concerns over Greece’s ability to meet looming repayment deadlines, dealers said. The dollar was also boosted by expectations the US Federal Reserve will raise interest rates in the coming months. The shared eurozone unit slid to $1.0902, down from $1.0980 late Monday. “The euro continued to fall Tuesday with many blaming Yanis Varoufakis after the Greek finance minister pointed the finger at the country’s creditors on M
  
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• Wall St opens lower as stronger dollar weighs

  26-05-2015 16:08 via news.yahoo.com
  
  NEW YORK: Wall Street opened lower on Tuesday after the dollar jumped to a one-month high on data showing that U.S. business investment spending plans increased solidly for a second straight month in April. Federal Reserve Chair Janet Yellen said on Friday that the central bank could raise interest rates this year if the economy keeps improving as expected. The dollar was hovering at an eight-year high against the yen and a one-month peak against a basket of other big currencies. “It isn’t n
  
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• Wall Street opens lower as stronger dollar weighs

  26-05-2015 15:56 via news.yahoo.com
  
  Federal Reserve Chair Janet Yellen said on Friday that the central bank could raise interest rates this year if the economy keeps improving as expected. "It isn't normal to see such large moves in currencies," said Adam Sarhan, chief executive of Sarhan Capital in New York. At 9:41 a.m. ET (1341 GMT) the Dow Jones industrial average was down 111.31 points, or 0.61 percent, at 18,120.71, the S&P 500 was off 10.45 points, or 0.49 percent, at 2,115.61 and the Nasdaq Composite was
  
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• US stock index open lower as traders return from holiday

  26-05-2015 15:40 via news.yahoo.com
  
  NEW YORK (AP) — Stocks are opening slightly lower on Wall Street as traders return from the Memorial Day holiday in the U.S.
  
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• Wall Street opens lower as dollar rises

  26-05-2015 15:36 via news.yahoo.com
  
  REUTERS - U.S. stocks opened lower on Tuesday as the dollar pushed higher after data showed that U.S. business investment spending plans increased in April for the second straight month. The Dow Jones industrial average was down 38.24 points, or 0.21 percent, at 18,193.78, the S&P 500 was off 5.44 points, or 0.26 percent, at 2,120.62 and the Nasdaq Composite was down 12.17 points, or 0.24 percent, at 5,077.20. (Reporting by Narottam Medhora in Bengaluru; Editing by Savio D'Souza)
  
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• Wall Street set to open lower as dollar rises

  26-05-2015 15:17 via news.yahoo.com
  
  Federal Reserve Chair Janet Yellen said on Friday that the central bank could raise interest rates this year if the economy keeps improving as expected. "It isn't normal to see such large moves in currencies," said Adam Sarhan, chief executive of Sarhan Capital in New York. S&P 500 e-mini futures were down 6.75 points and their fair value – a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract – indicated a
  
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• G7 finance ministers, central bankers to meet in Dresden

  26-05-2015 15:01 via news.yahoo.com
  
  Finance ministers and central bank governors of the Group of Seven wealthiest nations meet in Dresden this week to discuss the health of the global economy and financial regulation, with Greece also on the agenda. German Finance Minister Wolfgang Schaeuble has invited his counterparts and their central bank chiefs from Britain, Canada, France, Italy, Japan and the United States, for a meeting starting Wednesday and "an in-depth exchange of views" in the eastern German city. A "rea
  
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• BRIEF-Bioscience Brands says liquidators proceeding with winding up co

  26-05-2015 15:00
  * Liquidators are proceeding with winding up of company in
  absence of any other alternatives being presented for
  considerationSource text for Eikon:Further company coverage:
  (Bengaluru...
  
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• Dollar hits 1-month high as periphery woes weigh on Europe

  26-05-2015 14:57 via news.yahoo.com
  
  Europe's main markets returned to action after a long weekend with the mood unsettled by Sunday's strong local election showing by anti-austerity parties in Spain and with the clock ticking down on Greece's bid to get aid from the euro zone to stay afloat. Wall Street was expected to open down 0.2 percent, having also been closed on Monday and with the dollar still on the up after confident-sounding comments from Federal Reserve head Janet Yellen and solid inflation data at the en
  
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• Oxford Economics takes majority stake in South Africa's NKC

  26-05-2015 14:49 via news.yahoo.com
  
  JOHANNESBURG (Reuters) - UK-based economic advisory firm Oxford Economics will take a majority stake in South African consultancy NKC Independent Economists, the two companies said on Tuesday. Cape Town-based NKC Independent Economists, founded in 2002, will be renamed NKC African Economics, the companies said in a joint statement. The move is part of Oxford Economics' strategy to boost its coverage of emerging markets and meet client demand for analysis and forecasts of Africa's major economies
  
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• BRIEF-Hullera Vasco Leonesa agrees to file for insolvency proceedings

  26-05-2015 14:46
  May 26 (Reuters) - Hullera Vasco Leonesa SA :* Says agrees to file for insolvency proceedingsSource text for Eikon:Further company coverage:
  (Gdynia Newsroom)
  
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• UPDATE 3-Charter agrees to buy Time Warner Cable for $56 bln

  26-05-2015 14:39
  * Charter's stock up about 4 pct at $182.14 (Adds FCC and analyst comments, updates shares)
  
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• Libya's parliament halts session as car burns outside

  26-05-2015 14:33 via news.yahoo.com
  
  Libya's elected parliament halted a session attended by Prime Minister Abdullah al-Thinni on Tuesday after protesters set fire to a car outside its base in the eastern city of Tobruk, lawmakers said. It was not immediately clear what the protesters were demanding, but Thinni has faced increasing criticism in the east over the country's political chaos since the overthrow of Muammar Gaddafi in 2011, and economic hardships including salary delays and power cuts. The oil producer's new rulers had o
  
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