Finance news

• U.S. auto regulators impose record $105 mln fine on Fiat Chrysler

  26-07-2015 23:56
  WASHINGTON, July 26 (Reuters) - The U.S. auto safety watchdog, toughening its stance against manufacturer defects, on Sunday set a record penalty of $105 million against Fiat Chrysler Automobiles NV...
  
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• UPDATE 1-U.S. Senate backs Ex-Im Bank renewal in procedural vote

  26-07-2015 23:25
  WASHINGTON, July 26 (Reuters) - The U.S. Senate voted on Sunday to advance legislation that would revive the federal Export-Import Bank, whose charter expired on June 30 and was not renewed by...
  
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• McGraw Hill near $2 billion deal for SNL Financial -source

  26-07-2015 23:07
  July 26 (Reuters) - McGraw Hill Financial Inc is nearing a deal to pay more than $2 billion for SNL Financial LC, a financial data and information company owned by private equity firm New Mountain...
  
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• UPDATE 1-U.S. auto regulators consider $105 mln fine for Fiat Chrysler

  26-07-2015 22:36
  WASHINGTON, July 26 (Reuters) - U.S. auto safety regulators were considering a record $105 million fine for Fiat Chrysler Automobiles NV over recall lapses involving millions of vehicles, according...
  
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• Finmeccanica no longer looking to sell U.S. unit DRS -source

  26-07-2015 22:25
  MILAN, July 26 (Reuters) - Italian defence group Finmeccanica is no longer looking to sell DRS Technologies due to the improved performance of its U.S. unit, a source close to the matter said on...
  
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• U.S. Senate backs Ex-Im Bank renewal in procedural vote

  26-07-2015 22:16
  WASHINGTON, July 26 (Reuters) - The U.S. Senate voted on Sunday to advance legislation that would revive the federal Export-Import Bank, whose charter expired on June 30 and was not renewed by...
  
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• U.S. TV networks court YouTube crowd in quest for digital viewers

  26-07-2015 21:04
  ANAHEIM, California, July 26 (Reuters) - For the first time, cable TV network Nickelodeon staged a casting call at VidCon, a convention that draws stars of YouTube and social media like Vine,...
  
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• UPDATE 1-Greek PM Tsipras under pressure over covert Syriza drachma plan reports

  26-07-2015 20:39
  * Secret plan to copy tax details to prepare for drachma return
  
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• UK's Cameron in southeast Asia visit to talk trade, Islamist extremism

  26-07-2015 20:34 via news.yahoo.com
  
  By Andrew Osborn LONDON (Reuters) - British Prime Minister David Cameron said on Sunday he wanted to use a four-day trade mission to southeast Asia to spur lucrative business deals and to forge new political alliances to counter Islamist extremism. The trip, which begins in earnest on Monday, is expected to take in Indonesia, Malaysia, Singapore and Vietnam, and will be Cameron's first outside Europe since he won an unexpectedly convincing election victory in May. Cameron, who will travel w
  
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• Surprise contender to lead Labour - Renationalise swaths of economy

  26-07-2015 19:54 via news.yahoo.com
  
  By Andrew Osborn LONDON (Reuters) - A surprise contender to lead Britain's opposition Labour Party said on Sunday he believed swaths of the economy should be renationalised as a battle for the left-wing party's soul prompted warnings it could split in two. The party, which in May suffered its worst election defeat in almost three decades, is choosing a new leader it hopes can challenge Prime Minister David Cameron's Conservatives in 2020. Ed Miliband, its previous leader, quit in
  
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• Greek stock market will stay closed on Monday, might reopen Tuesday: official sources

  26-07-2015 19:47 via news.yahoo.com
  
  The Greek stock exchange will remain closed on Monday but might reopen on Tuesday after a one-month shutdown, official sources said. "It's certain that it will not open on Monday, maybe on Tuesday," a spokesperson for the Athens Stock Exchange told Reuters on condition of anonymity. The stock market has been closed since June 29 when Athens shut its stricken banks and imposed capital controls to stem a run on deposits that threatened to collapse the tottering Greek financial system.
  
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• UPDATE 1 -Greek stock market will stay closed on Monday, might reopen Tuesday - official sources

  26-07-2015 19:42
  ATHENS, July 26 (Reuters) - The Greek stock exchange will remain closed on Monday but might reopen on Tuesday after a one-month shutdown, official sources said.
  
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• Greek stock market will remain closed on Monday, might reopen on Tuesday: official sources

  26-07-2015 19:38 via news.yahoo.com
  
  ATHENS (Reuters) - The Greek stock exchange might reopen on Tuesday, official sources said on Sunday, after a one-month shutdown which has put at risk the bourse's place in global securities indices. "It's certain that it will not open on Monday, maybe on Tuesday," a spokesperson for the Athens Stock Exchange told Reuters on condition of anonymity. (Reporting by Angeliki Koutantou; Editing by Angus MacSwan)
  
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• Mafia and multinationals milk Italy's green energy boom

  26-07-2015 19:28 via news.yahoo.com
  
  Famed for its lush plains and emerald waters but racked by poverty and unemployment, Sardinia has jumped at the chance to boost the economy by converting its long months of sunshine into green energy. In Sardinia's northwest, the crop from purple and golden fields of thistles and sunflowers is used to generate biomass energy, while on the rolling hills in the island's centre, towering white turbines spin gently in the breeze at Italy's second largest wind farm.
  
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• Greek PM Tsipras under pressure over covert Syriza drachma plan reports

  26-07-2015 16:10
  * Secret plan to copy tax details to prepare for drachma return
  
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• Randgold CEO says Ivory Coast power cuts boost Tongon costs

  26-07-2015 15:51 via news.yahoo.com
  
  Persistent power cuts in Ivory Coast over the past several months has adversely affected operational costs and output of Randgold Resources' Tongon mine, Chief Executive Mark Bristow said. Ivory Coast, the world's biggest cocoa producer and the West Africa region's biggest economy, like many countries in the region, is struggling to meet skyrocketing electricity demand to power its expanding post-war economy. Bristow told a news conference in Abidjan on Saturday that power supply
  
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• Surprise contender to lead UK's Labour: Renationalise swaths of economy

  26-07-2015 14:29 via news.yahoo.com
  
  By Andrew Osborn LONDON (Reuters) - A surprise contender to lead Britain's opposition Labour Party said on Sunday he believed swaths of the economy should be renationalised as a battle for the left-wing party's soul prompted warnings it could split in two. The party, which in May suffered its worst election defeat in almost three decades, is choosing a new leader it hopes can challenge Prime Minister David Cameron's Conservatives in 2020. Ed Miliband, its previous leader, quit in
  
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• Analysis - Amazon posts anomalous profit, Wall Street swoons

  26-07-2015 14:14 via news.yahoo.com
  
  By Mari Saito SAN FRANCISCO (Reuters) - Investor enthusiasm for Amazon.com Inc is pretty consistent: the stock tends to rise, even though the company isn't consistent abo...
  
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• Amazon posts anomalous profit, Wall Street swoons

  26-07-2015 14:07 via news.yahoo.com
  
  Investor enthusiasm for Amazon.com Inc is pretty consistent: the stock tends to rise, even though the company isn't consistent about making profits.    On Thursday it posted second quarter profit of $92 million on sales of $23.19 billion, only its third quarterly profit since the first quarter of 2014. Amazon has reported an annual net profit in 10 of its 18 years as a public company, and only twice in the last four years.
  
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• U.S. auto safety regulator to fine Fiat Chrysler $105 million: report

  26-07-2015 12:54 via news.yahoo.com
  
  U.S. authorities are close to imposing a record $105 million fine on Fiat Chrysler Automobiles for recall lapses covering millions of vehicles, the Wall Street Journal reported on Saturday citing people familiar with the matter. A settlement could be unveiled as early as Monday and Fiat Chrysler will have an opportunity to recoup some of the penalties if it meets certain conditions, the newspaper said. Fiat Chrysler declined to comment.
  
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• MIDEAST STOCKS-Saudi slips despite SABIC, Egypt edges up

  26-07-2015 11:15 via news.yahoo.com
  
  DUBAI, July 26 (Reuters) - Saudi Arabia's stock market edged down in early trade on Sunday despite a strong performance by heavyweight Saudi Basic Industries (SABIC). Egypt's bourse rose on the back of property stocks. SABIC jumped 2.0 percent after posting a profit of 6.17 billion riyals ($1.64 billion) for the quarter, down from 6.46 billion riyals a year ago but well ahead of the average estimate of seven analysts surveyed by Reuters, 4.96 billion riyals. But the main Saudi stock index slippe
  
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• 7 Tips For Effective And Stress-Free Budgeting

  26-07-2015 10:55 via news.yahoo.com
  
  Spending less than we make is often cited as the most important personal finance goal. It helps us get out of debt, save for emergencies, and stash money away for retirement. It's the primary habit that ...
  
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• Nigeria's president plans to split state oil company into two entities

  26-07-2015 10:14 via news.yahoo.com
  
  By Felix Onuah ABUJA (Reuters) - Nigerian President Muhammadu Buhari plans to split the state-owned Nigerian National Petroleum Corporation (NNPC) into two entities, his spokesman said on Saturday. Buhari, elected in March on promises to combat corruption, has made clear he wants to overhaul the oil sector in Africa's biggest economy, which provides the government with around 70 percent of its revenue. "Mr President will soon split the NNPC into two entities.
  
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• Debt conundrum to keep Greek banks in months-long freeze

  26-07-2015 10:00
  * Athens pushes for quick cash injection but talks could drag on
  
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• Indonesia floats port expansion to boost faltering economy

  26-07-2015 09:47 via news.yahoo.com
  
  Container ships dot the horizon off the coast of Jakarta, as cranes and labourers work on an ambitious, economy-boosting project to expand the port network in the world's largest archipelago nation. New Priok will be Indonesia's biggest port once completed, and is one of 24 ports planned to overhaul maritime connections in Southeast Asia's top economy, which comprises more than 17,000 islands. President Joko Widodo is leading efforts to improve dilapidated maritime infrastructure
  
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• Black economy clouds Spain's recovery from crisis

  26-07-2015 08:52 via news.yahoo.com
  
  "Nowadays the phrase 'steady job' means nothing in Spain," said Paloma Sotillo, 43. Spain's economy returned to growth in 2013 after five years of economic crisis, but its unemployment rate is still the second-highest in the eurozone after Greece. A study by Catalan business school Esade indicated however that one in 10 employees and one in five unemployed people in Spain did work for earnings that they did not declare to the taxman.
  
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• Greece's headache: how to lift the capital controls?

  26-07-2015 08:16 via news.yahoo.com
  
  It is just the headache Greece's government does not need right now: how can it loosen the capital controls that are shielding its banks, but strangling the rest of the economy? It is almost impossible for most Greeks to take money out of the country, thanks to a raft of capital control measures put in place on June 29 amid fears of a catastrophic bank run. For companies, the capital controls have meant waiting for a government commission to sign off on large bills owed to foreign firms --
  
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• Deutsche Boerse buys forex trading platform 360T for 725 million euros

  26-07-2015 07:33 via news.yahoo.com
  
  Deutsche Boerse is buying German-based foreign exchange trading platform 360T for 725 million euros (£513 million), the Frankfurt-based stock market operator said on Sunday. 360T is one of a handful of multi-bank, multi-user platforms which have revolutionised foreign exchange trading over the past decade and Deutsche Boerse beat U.S. commodities and currency exchange operator CME Group in the auction, according to sources familiar with the deal. Deutsche Boerse said it expects significant doub
  
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• Deutsche Boerse buys forex trading platform 360T for 725 million euro

  26-07-2015 07:11 via news.yahoo.com
  
  FRANKFURT (Reuters) - Deutsche Boerse is buying German-based foreign exchange trading platform 360T for 725 million euros (£513 million), the Frankfurt-based stock market operator said on Sunday. "The combination will facilitate significant double-digit million Euro revenue synergies in the mid-term by utilising Deutsche Börse Group's international distribution capabilities and expertise," Deutsche Boerse said in a statement. ...
  
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• Secrecy around TPP trade deal fuels suspicions and worries

  26-07-2015 04:09 via news.yahoo.com
  
  Foreign investors empowered to overrule governments. A handful of draft chapters of the TPP, leaked via Wikileaks, have highlighted the proposed treaty's heavy emphasis on expanding protections for corporate rights and assets like intellectual property -- patents, copyrights and databases -- that are far more valuable to advanced economy corporations than traditional cargo trade. For critics, the proposals show a deal moving more toward protection than free trade, one more about corporate b
  
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• Teva in talks to buy Allergan big generic-drug unit - WSJ

  26-07-2015 00:30 via news.yahoo.com
  
  (Reuters) - Israeli drug maker Teva Pharmaceutical Industries Ltd is in talks to combine with Allergan Plc's big generic-drug business, the Wall Street Journal reported on Saturday, citing people fami...
  
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