Finance news

• Greece votes in referendum with future in euro in doubt

  04-07-2015 22:53 via news.yahoo.com
  
  Greece votes on Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the euro-currency area after seven years of economic pain.     Staged against a backdrop of shuttered banks and threats of financial apocalypse, the vote is too close to call and may not produce the clear mandate for negotiations that Athens’ creditors seek.     Greeks are split on whether to accept an offer by creditors that Prim
  
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• Exclusive: CVC say they are under no pressure to sell F1

  04-07-2015 22:47
  
  SILVERSTONE, England (Reuters) - Formula One's commercial rights holders CVC Capital Partners are under no pressure to sell their controlling stake in the sport and want to keep it, co-chairman...
  
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• China to create $19B fund to support plunging stock market

  04-07-2015 18:21 via news.yahoo.com
  
  NEW YORK (AP) — China has reportedly decided to bar new public offerings of stock and will create a fund to stabilize its stock market, which has been roiled by a wave of selloffs..
  
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• Europe won't let Athens go under, says Greek minister

  04-07-2015 18:06 via news.yahoo.com
  
  By Lefteris Karagiannopoulos and Matt Robinson ATHENS (Reuters) - Greece's finance minister accused creditors of trying to "terrorize" Greeks into accepting austerity, warning Europe stood to lose as much as Athens if the country is forced out of the euro after a referendum on Sunday on bailout terms. After a week in which Greece defaulted, shuttered its banks and began rationing cash, Greeks vote on Sunday on whether to accept or reject tough conditions sought by international cr
  
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• WRAPUP 3-Europe won't let Athens go under, says Greek minister

  04-07-2015 18:03
  ATHENS, July 4 (Reuters) - Greece's finance minister accused creditors of trying to "terrorise" Greeks into accepting austerity, warning Europe stood to lose as much as Athens if the country is...
  
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• China curbs IPOs, enlists brokers in all-out bid to end market rout

  04-07-2015 17:57 via news.yahoo.com
  
  BEIJING/SHANGHAI (Reuters) - China froze share offers and set up a market-stabilization fund on Saturday, the Wall Street Journal said, as Beijing intensified efforts to pull stock markets out of a nose-drive that is threatening the world's second-largest economy. Beijing's reported suspension of initial public offers (IPOs) came a few hours after extraordinary announcements by major brokers and fund managers, which collectively pledged to invest at least $19 billion of their own money
  
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• Despite crisis, few Greeks ready to forgo coffee

  04-07-2015 16:55 via news.yahoo.com
  
  They might be living through one of the worst economic crises of modern times, but for Greeks coffee remains an indispensable fuel for thought on the eve of a referendum that may decide their future in Europe. Hit by falling pensions and wages, higher taxes and soaring unemployment, Greeks of all walks of life have cut back on consumption. "Greeks are ready to cut anything else, but not their coffee.
  
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• 28 Chinese companies suspend IPOs: exchange statements

  04-07-2015 16:54 via news.yahoo.com
  
  Twenty-eight Chinese companies planning to list on the country's stock exchanges said on Saturday they would suspend their initial public offering plans. The companies, in separate statements issued on the Shanghai and Shenzhen stock exchanges, said they would suspend their listing plans due to "relatively big market volatility". The Wall Street Journal reported earlier that the government had decided to suspend IPOs to help stabilize the falling stock market.
  
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• UPDATE 1-Despite crisis, few Greeks ready to forgo coffee

  04-07-2015 16:54
  * Greeks split heading into fateful referendum (Adds quote)
  
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• No let-up for Malaysia's PM after state fund graft allegations

  04-07-2015 16:52 via news.yahoo.com
  
  By Praveen Menon KUALA LUMPUR (Reuters) - Malaysian Prime Minister Najib Razak came under fresh pressure on Saturday after statements from colleagues opened up the prospect of further probes into alleged corruption around the debt-laden state fund 1MDB. The attorney-general said he had received several documents from a task force investigating 1MDB, including some connected to allegations that money was transferred into an account in Najib's name, and advised it to take further action. Naji
  
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• Despite crisis, Greeks not ready to give up espresso

  04-07-2015 16:39 via news.yahoo.com
  
  They might be living through one of the worst economic crises of modern times, but for Greeks coffee remains an indispensable fuel for thought on the eve of a referendum that may decide their future in Europe. Hit by falling pensions and wages, higher taxes and soaring unemployment, Greeks of all walks of life have cut back on consumption. "Greeks are ready to cut anything else, but not their coffee.
  
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• China to suspend new IPOs to stabilise stock markets - WSJ

  04-07-2015 16:28 via news.yahoo.com
  
  SHANGHAI (Reuters) - China has suspended new initial public offerings (IPOs) in effort to stabilise falling stock markets, the Wall Street Journal reported on Saturday, citing unidentified sources. The decision was made at a meeting held earlier in the day involving officials from the cabinet, the central bank, the securities regulator and other financial agencies, the report said. (Reporting by Kazunori Takada; Editing by Kevin Liffey)
  
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• China to suspend new IPOs to stabilize stock markets: WSJ

  04-07-2015 16:27 via news.yahoo.com
  
  SHANGHAI (Reuters) - China has suspended new initial public offerings (IPOs) in effort to stabilize falling stock markets, the Wall Street Journal reported on Saturday, citing unidentified sources.
  
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• Greek Fin Min says to get deal on Monday regardless of referendum

  04-07-2015 16:26
  BERLIN, July 4 (Reuters) - Greek Finance Minister Yanis Varoufakis told a German newspaper he expects to get a deal with international creditors on Monday, regardless of the outcome of Sunday's...
  
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• Founder of German eurosceptic party calls for end to feud

  04-07-2015 16:14 via news.yahoo.com
  
  The founder of the eurosceptic Alternative for Germany (AfD) appealed to colleagues on Saturday to end a bitter leadership dispute that threatens to rip apart the two-year-old party. The infighting has hit the ratings of the AfD and left it floundering at a time when it could have capitalized on anger over Greece's debt crisis. The acrimonious feud between founder Bernd Lucke, who wants to focus on liberal economic policies, and co-leader Frauke Petry who has won support from right-wing conserva
  
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• Greek minister says Europe won't let Athens go under

  04-07-2015 14:30 via news.yahoo.com
  
  By Lefteris Karagiannopoulos and Matt Robinson ATHENS (Reuters) - Greece’s finance minister accused creditors of trying to "terrorize" Greeks into accepting austerity, warning Europe stood to lose as much as Athens if the country is forced from the euro after a referendum on Sunday on bailout terms. After a week in which Greece defaulted, shuttered its banks and began rationing cash, Greeks vote on Sunday on whether to accept or reject tough conditions sought by international credito
  
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• Nigerian central bank in no mood to devalue naira

  04-07-2015 14:06 via news.yahoo.com
  
  By Camillus Eboh ABUJA (Reuters) - Nigeria's central bank is no mood to devalue the naira given the risks to inflation from a weaker currency, its spokesman said on Friday, potentially delaying investment flows into Africa's biggest economy. The central bank (CBN) said in a statement it believed the 22 percent depreciation in the naira after it scrapped the official foreign exchange window "is optimal at this time" and the bank would not be pressured into "desperate meas
  
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• 25 Chinese mutual fund houses seek to speed up application and issuance of equity funds

  04-07-2015 13:53 via news.yahoo.com
  
  BEIJING (Reuters) - Leaders of 25 major Chinese mutual fund houses on Saturday promised to subscribe to their companies' equity funds, the latest effort to stem a stock market slide of nearly 30 percent since mid-June.
  
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• Leighton To Cook Up Wagamama Flotation

  04-07-2015 13:29 via news.yahoo.com
  
  One of Britain’s best-known businessmen is to take the helm at Wagamama, the Asian dining chain, ahead of a review that could see it float on the London stock market. Sky News understands that Allan Leighton, the former boss of Asda and ex-Royal Mail chairman, is to become the restaurant group’s next chairman. The move, to be announced next week, will come four years after Duke Street Capital and Hutton Collins, two investment firms, acquired the business, and is said by insiders to signal t
  
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• Malaysia's attorney general says has seen documents on Najib allegations

  04-07-2015 13:26 via news.yahoo.com
  
  Malaysia's attorney-general said on Saturday that a task force investigating state fund 1MDB had passed several documents to him, including ones connected to allegations that money was transferred into the account of Prime Minister Najib Razak. The statement comes a day after a Wall Street Journal report said that investigators had traced nearly $700 million to bank accounts that they believed belonged to the prime minister. In a statement issued on Friday night, Najib denied taking any mon
  
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• Lawmakers reject bid to sack Madagascar prime minister

  04-07-2015 13:21 via news.yahoo.com
  
  Lawmakers in Madagascar rejected a bid to sack the prime minister and cabinet late on Friday as lawmakers, ending an effort that threatened further turmoil in a country still recovering from a 2009 coup. The leader of the main opposition group Mapar, Jean Max Rakotomamonjy, said that 95 of 112 lawmakers voted in favor of the sacking, but the number fell short of the two-thirds majority required. Prime Minister Jean Ravelonarivo took office in January after public frustration with power cuts, ram
  
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• Chorus Clean Energy says Greece crisis will not derail its IPO plan

  04-07-2015 12:10
  FRANKFURT (Reuters) - Chorus Clean Energy will stick to its plan for a stock market listing, which it delayed due to market turmoil caused by Greece's debt crisis, its chief executive told a...
  
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• RPT-UPDATE 1-China brokerages pledge to buy $19.3 bln in shares to steady plunging market

  04-07-2015 12:09
  * Near daily stream of measures now to stave off market crash
  
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• China brokerages pledge to buy $19.3 billion in shares to steady plunging market

  04-07-2015 12:04 via news.yahoo.com
  
  The rout in China's highly leveraged stock market has become a major worry for international investors, who fear a meltdown could further destabilize the global economy even as Greece risks crashing out of the European common currency. China stocks had more than doubled over the past year, fueled in large part by investors using borrowed money to speculate on further gains. The brokerages met on Saturday in Beijing to discuss the market situation and expressed "full confidence" in
  
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• WRAPUP 1-Greek minister: Europe can't afford to let Athens go under

  04-07-2015 12:03
  * Germany's Schaeuble says Greece might lose euro "temporarily"
  
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• Iran's oil ministry to submit new international contract draft 'soon' -Shana

  04-07-2015 11:55
  DUBAI, July 4 (Reuters) - Iran's oil minister Bijan Zanganeh will soon present a long-awaited template for new international oil contracts to the government, as foreign companies watch for a nuclear...
  
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• Finance minister Varoufakis says action towards Greece is "terrorism"

  04-07-2015 11:16
  MADRID, July 4 (Reuters) - Greek Finance Minister Yanis Varoufakis said European action towards the country was "terrorism" in an interview with Spanish newspaper El Mundo and said a trillion euros...
  
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• Greek finance minister accuses creditors of 'terrorism', on eve of referendum

  04-07-2015 10:45 via news.yahoo.com
  
  Greece braced itself Saturday ahead of a make-or-break bailout referendum as polls showed the 'Yes' and 'No' camps neck and neck and uncertainty rose over the future of the country's battered economy. Prime Minister Alexis Tsipras got a rock-star welcome at an Athens rally late Friday as he sought to revive support for a 'No' vote in a referendum called to strengthen his hand in talks with international creditors. In an interview published Saturday the outspoke
  
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• GRAPHIC-What happens if Greeks vote "Yes", what happens if it's a "No"

  04-07-2015 10:00
  LONDON, July 4 (Reuters) - Sunday's referendum in Greece will set a new course for the country after a tumultuous half year of negotiating between Athens and its international creditors.
  
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• CORRECTED-Exxon Mobil ends oil exploration in Madagascar after poor finds -minister

  04-07-2015 09:55
  ANTANANARIVO, July 3 (Reuters) - Exxon Mobil Corp has ended its oil exploration in Madagascar after disappointing findings in its off-shore blocks, the Malagasy Mining and Petroleum Minister said on...
  
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• China brokerages pledge to buy at least $19.3 billion in shares to stabilise market

  04-07-2015 09:53 via news.yahoo.com
  
  China's top 21 securities brokerages said on Saturday that they would collectively invest at least 120 billion yuan ($19.3 billion or 12.39 billion pounds) to help stabilise the country's stock markets after a slump of nearly 30 percent since mid-June. The rout in China's highly leveraged stock market has become a major worry for global investors, who fear a meltdown could destabilise the world's second-largest economy at a time when growth is already slowing. The brokerages
  
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• China brokerages pledge to buy at least $19.3 billion in shares to stabilize market

  04-07-2015 09:51 via news.yahoo.com
  
  China's top 21 securities brokerages said on Saturday that they would collectively invest at least 120 billion yuan ($19.3 billion to help stabilize the country's stock markets after a slump of nearly 30 percent since mid-June. The rout in China's highly leveraged stock market has become a major worry for global investors, who fear a meltdown could destabilize the world's second-largest economy at a time when growth is already slowing. The brokerages met on Saturday in Beijin
  
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• China brokerages pledge to buy at least $19.3 bln in shares to stabilise market

  04-07-2015 09:46
  BEIJING, July 4 (Reuters) - China's top 21 securities brokerages said on Saturday that they would collectively invest at least 120 billion yuan ($19.3 billion to help stabilise the country's stock...
  
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• UPDATE 1-Hong Kong stock exchange to introduce volatility controls from mid-2016

  04-07-2015 08:13
  HONG KONG, July 3 (Reuters) - The operator of Hong Kong's stock exchange said it will introduce new controls to rein-in volatility, in a long-awaited announcement that comes as Chinese shares see...
  
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• UPDATE 2-MOVES-Blackstone hires Liping Zhang as Greater China chairman -sources

  04-07-2015 06:54
  * Neil Harvey to serve as Credit Suisse's Greater China CEO (Recasts with company confirmation)
  
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• Canadian judge rejects request for injunction against Uber

  04-07-2015 06:29
  TORONTO, July 3 (Reuters) - An Ontario court on Friday rejected the city of Toronto's request for an injunction to halt Uber's operations in Canada's largest city.
  
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• UPDATE 1-Colorado crash of medical transport helicopter kills pilot

  04-07-2015 03:45
  July 3 (Reuters) - A medical transport helicopter crashed during a take-off on Friday in Colorado, killing the pilot and seriously injuring two others on board, authorities said.
  
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• Venezuela's unofficial exchange rate weakens past 500 per dollar

  04-07-2015 02:45
  CARACAS, July 3 (Reuters) - Venezuela's unofficial exchange rate broke through 500 bolivars per dollar on Friday, according to a widely used website, as the socialist-run country's currency control...
  
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• Under fire for comments, Trump weighs in on California shooting

  04-07-2015 01:40
  NEW YORK, July 3 (Reuters) - A random fatal shooting in San Francisco, allegedly by an immigrant, proves the United States must tighten its borders, according to a statement on Friday by U.S....
  
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• Puerto Rico to boost cash flow after key bill signed into law

  04-07-2015 01:17
  SAN JUAN, Puerto Rico, July 3 (Reuters) - A key bill that will boost Puerto Rico's cash flow was signed into law Friday, the governor's office said, allowing the commonwealth to raise $400 million in...
  
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• WRAPUP 8-Greeks deeply divided heading into crucial vote

  04-07-2015 00:05
  ATHENS, July 3 (Reuters) - Tens of thousands of Greeks took to the streets on Friday in rival rallies that laid bare the deep divide heading into a referendum that may decide the country's future in...
  
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