Finance news

• On Hong Kong's stock market: thrills, spills and missing executives

  28-06-2015 23:59 via news.yahoo.com
  
  * China Aircraft Leasing CEO disappeared after resigning * Company execs caught up in China's anti-graft campaign * Hong Kong corporate governance ranking fell in 2014 By Anne Marie Roantree and Umesh Desai HONG KONG, June 29 (Reuters) - Missing executives, bribery probes, workers suspected of pilfering company documents - not the plot for a thriller, just regular reading for a Hong Kong stock trader. Puzzling company statements that would raise eyebrows in most financial centres have become inc
  
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• Wall St. eyes Greece and Fed; Main St lackadaisical

  28-06-2015 23:22 via news.yahoo.com
  
  Anxiety about Greece may keep Wall Street on edge early in the week, as the country moves toward what was once thought unthinkable: a default and a full exit from the euro zone. While European markets are braced for a wave of contagion from Greece on Monday, as a result of a possible "Grexit" that most had still assumed was unlikely as late as Friday afternoon, the effect on U.S. markets is expected to be bumpy, but not as dramatic as in Europe. Athens is due to miss a 1.6 billion euro ($1.8 bil
  
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• Greek People Bear Brunt Of Bailout Failure

  28-06-2015 22:18 via news.yahoo.com
  
  On Sunday evening, as night fell, a storm passed, just as news filtered out of the government’s decision. When this round of negotiations began to secure the last disbursement of bailout cash, few imagined a day when enforced bank holidays and the closure of the Athens stock market would be considered necessary. But now the Stability Committee has deemed it prudent to prevent too much cash from ebbing out of the Greek banking system after the European Central Bank decided not to raise the leve
  
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• Greece sets sail for choppy, uncharted waters

  28-06-2015 22:09 via news.yahoo.com
  
  By snubbing a bailout deal and slapping capital controls on its banks Greece has set a course into choppy, uncharted waters that could lead to fresh economic upheaval and a euro exit. After five months of torturous negotiations and just days away from a default, Greece's radical leftist Prime Minister Alexis Tsipras threw the political equivalent of a curve ball by calling a referendum on the bailout proposals for next Sunday. The capital controls and temporary closure of banks will likely
  
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• Greek tourism draws line in the sand over tax hikes

  28-06-2015 21:37 via news.yahoo.com
  
  By Matthias Williams and Michele Kambas PAROS, Greece (Reuters) - Alexis Kalaitzoglou makes a swift gesture to describe what he thinks about Prime Minister Alexis Tsipras: the shopkeeper on this busy tourist island pulls his leg back and swings it forward as if to give Greece's leader a good kicking. Kalaitzoglou is angry because his family's shop of jams, honeys and wooden handicrafts - part of a wider tourism industry that is the only bright spot for Greece's struggling economy - may be in for
  
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• Obama, Merkel say it is critical to work to keep Greece in euro zone

  28-06-2015 19:59 via news.yahoo.com
  
  President Barack Obama and German Chancellor Angela Merkel spoke on Sunday and agreed that it is "critically important" to find ways to keep Greece in the euro zone, the White House said. "The leaders affirmed that their respective economic teams are carefully monitoring the situation and will remain in close touch," the White House said in a statement.
  
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• IMF chief Lagarde says disappointed over inconclusive talks with Greece

  28-06-2015 19:07 via news.yahoo.com
  
  By Sarah N. Lynch and David Morgan WASHINGTON (Reuters) - The head of the International Monetary Fund said Sunday she is disappointed in the stalemate over talks to prevent Greece from defaulting on its IMF debt, but said the euro area is in a "strong position" to respond effectively to developments. In a statement, IMF Managing Director Christine Lagarde endorsed a balanced approach to restore economic stability and growth in Greece, accompanied by structural and fiscal reforms, and remained co
  
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• Western officials suggest Iran tries to wiggle out of nuclear pledges

  28-06-2015 19:00 via news.yahoo.com
  
  By Louis Charbonneau and Arshad Mohammed VIENNA (Reuters) - Iran is backtracking from an interim nuclear agreement with world powers three months ago, Western officials suggested on Sunday, as U.S. and Iranian officials said talks on a final accord would likely run past a June 30 deadline. Securing an historic agreement would end a more than 12-year nuclear standoff between Iran and the West and open the door to suspending sanctions that have crippled Tehran's economy. It could also help ea
  
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• Police threaten to break up 'Electric Yerevan' protests as tensions rise

  28-06-2015 18:51 via news.yahoo.com
  
  Armenian authorities threatened Sunday to forcefully break up a protest against rising electricity prices and police brutality after the president announced concessions in a bid to calm tensions. Thousands of demonstrators were expected to take to the streets of the capital Yerevan in the evening after President Serzh Sarkisian's promise that the government would shoulder the burden of a controversial hike in electricity prices failed to appease the activists. Police threatened to break up
  
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• Wave of contagion expected after dramatic weekend raises 'Grexit' chances

  28-06-2015 18:06 via news.yahoo.com
  
  European markets are braced for a wave of contagion from Greece on Monday, with heavy losses for southern European government bonds and regional stock markets expected as investors scramble to discount a possible "Grexit" that most had still assumed was unlikely as late as Friday afternoon. The European Central Bank on Sunday then capped the amount of emergency financing it extends to Greek banks at last week’s levels despite reports of further heavy deposit withdrawals over the week
  
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• Iran nuclear talks set to go beyond deadline as differences remain

  28-06-2015 15:11 via news.yahoo.com
  
  By Parisa Hafezi and John Irish VIENNA (Reuters) - The six world powers seeking to negotiate an historic agreement with Iran to curb its nuclear program plan to carry on negotiating beyond a Tuesday deadline, a senior U.S. official said on Sunday. Iranian Foreign Minister Mohammad Javad Zarif was to leave Vienna and return to Tehran for consultations with the country's leadership on the state of negotiations, Iran said. Officials from both sides said big differences still remained. ...
  
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• BIS warns low interest rates could spell 'entrenched instability'

  28-06-2015 15:11 via news.yahoo.com
  
  The Bank of International Settlements warned Sunday that persistently low interest rates were symptoms of a malaise in the global economy that could end in entrenched instability. The Basel-based institution, considered the central bank for central banks, hailed that plunging oil prices had boosted the global economy over the past year. "Interest rates have been exceptionally low for an extraordinarily long time," he said, warning that previously "unthinkable" monetary polici
  
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• UPDATE 1-ECB considers tightening emergency funding for Greek banks -sources

  28-06-2015 14:09
  FRANKFURT, June 28 (Reuters) - European Central Bank policy
  setters are considering tightening Greek banks' use of an
  emergency funding lifeline but keeping the back-up facility
  open, people familiar...
  
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• Low rates fuelling global financial, debt, growth instability: BIS

  28-06-2015 12:44 via news.yahoo.com
  
  Global interest rates are too low and pose a rapidly growing risk to financial stability and economic growth, the Bank for International Settlements said on Sunday. In its strongest warning yet that policy normalization should come sooner rather than later, the central bankers' central bank said economic growth across the world is uneven, debt burdens in many areas are high and rising, and the explosion of credit growth shows financial imbalances are building up again. The Switzerland-based BIS
  
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• ECB considers tightening emergency funding for Greek banks - sources

  28-06-2015 12:39
  FRANKFURT, June 28 (Reuters) - European Central Bank policy
  setters are considering keeping Emergency Liquidity Assistance
  open to Greek banks on Monday but imposing a higher valuation
  discount on...
  
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• EU's Mogherini says "not impossible" to get Iran nuclear deal

  28-06-2015 12:25 via news.yahoo.com
  
  By John Irish and Louis Charbonneau PARIS (Reuters) - European Union foreign policy chief Federica Mogherini said on Sunday it was not impossible to get a deal between world powers and Iran over its nuclear program but said tough days lay ahead as a self-imposed June 30 deadline nears. "If a few days more are needed we will take them," Mogherini told reporters on arrival in Vienna. The deadline for a deal under which Iran would cut back its nuclear program in exchange for relief from economic sa
  
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• China's easing may prop up stocks, but risks rewarding speculators

  28-06-2015 12:01 via news.yahoo.com
  
  By Pete Sweeney SHANGHAI (Reuters) - China's monetary easing at the weekend was aimed at stopping a stock market stampede, but has some economists worried that policy is being used to p...
  
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• MIDEAST STOCKS-Kuwait edges down after militant attack

  28-06-2015 10:08 via news.yahoo.com
  
  Kuwait's stock market edged down early on Sunday after a suicide bomber killed 27 people at a Shi'ite Muslim mosque at the weekend, the first attack of its kind in the country. Top lender National Bank of Kuwait was down 3.5 percent.
  
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• Austria's Finance Minister says Grexit appears "almost inevitable"

  28-06-2015 09:24
  VIENNA, June 28 (Reuters) - Austria's Finance Minister said a Greek exit from the euro - or Grexit - "appeared almost inevitable now" and that this would only be possible if Athens first asked to...
  
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• 'Nein Danke' - smaller German firms see U.S. trade deal as threat

  28-06-2015 09:00
  BERLIN, June 28 (Reuters) - Martina Roemmelt-Fella, who owns a small, family-run turbine manufacturer in Bavaria, should be a cheerleader for a trade deal between Europe and the United States that...
  
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• EU leaders forced Greece to drop last referendum but may not interfere now

  28-06-2015 07:30
  BRUSSELS, June 27 (Reuters) - A Greek prime minister torn between accepting harsh bailout terms and a rebellion by the left wing of his party decides to call a referendum to break the political...
  
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• MIDEAST STOCKS-Markets may be weak on militant attacks, Greece

  28-06-2015 07:28 via news.yahoo.com
  
  Middle East stock markets may be weak on Sunday because of the militant attacks in Kuwait and Tunisia that killed a total of 66 people last week, and concern about the Greek debt crisis. The mosque attack in Kuwait is unlikely to have any significant impact on the Kuwaiti economy as long as oil exports continue, but the security breach may at least temporarily dampen sentiment among the retail investors who dominate the stock market. The killing of 39 tourists in Tunisia is expected to seriously
  
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• China regulators juggle IPOs with growth and a market plunge

  28-06-2015 06:36 via news.yahoo.com
  
  By Lu Jianxin and Pete Sweeney SHANGHAI (Reuters) - A 20 percent fall in Chinese stocks over the past two weeks, mainly blamed on a flood of initial public offerings, highlights the risks that regulators face as they try to use the stock market to support the slowing economy. "The government appears eager to maintain a bull market to expand the capital market and reduce reliance on bank lending," analysts at Standard Chartered said in a note to clients on Saturday. The stock market, wh
  
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• Rift with Greece sets Europe into uncharted territory

  28-06-2015 03:27
  BRUSSELS, June 28 (Reuters) - Europe's grand project to bind its nations into an unbreakable union by means of a common currency lurched into uncharted waters after EU governments refused funding to...
  
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• Sydney's crazy housing market no mere craze

  28-06-2015 03:00
  SYDNEY, June 28 (Reuters) - Outlandish property prices make daily headlines in Sydney - a peeling 1900s three-bed with no kitchen sink for A$2.6 million ($2 million), a parking space in Kirribili for...
  
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• Congo Republic cuts budget by nearly 12 pct amid oil price drop

  28-06-2015 01:48
  BRAZZAVILLE, June 27 (Reuters) - Congo Republic's parliament has voted to cut the current 2015 budget by nearly 12 percent to compensate for a sharp drop in world oil prices, according to the...
  
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• Greek PM Tsipras issues defiant call to reject bailout in referendum

  28-06-2015 01:14
  ATHENS, June 28 (Reuters) - Prime Minister Alexis Tsipras issued a defiant call on Greeks to reject an "insulting" bailout offer from foreign creditors in a referendum planned for July 5.
  
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• EU's Tusk calling leaders to keep Greece in euro

  28-06-2015 00:46
  BRUSSELS, June 28 (Reuters) - European Council President Donald Tusk said on Sunday that Greece must remain part of the euro single currency area, adding that he was in touch with government leaders...
  
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• UPDATE 2-Argentine judge orders seizure of Falklands drillers' assets

  28-06-2015 00:29
  * U.S. firm Noble Energy among those with assets to be frozen
  
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