Finance news

• Seven people killed in plane crash at UK air show - BBC

  22-08-2015 18:02
  LONDON, Aug 22 (Reuters) - Seven people died when a plane crashed near an air show in southern England on Saturday, the BBC reported.
  
  Read more

• MAT waiver for FIIs will spur market: Sinha

  22-08-2015 17:10 via news.yahoo.com
  
  Bengaluru, Aug 22 (IANS) Minimum Alternative Tax (MAT) waiver on foreign institutional investors (FIIs) prior to April, as recommended by the government-appointed Shah panel, would be positive for the stock market, union Minister of State for Finance Jayant Sinha said on Saturday. "The Shah report has said the MAT issue should be resolved quickly, which I think will be positive for the market," Sinha told reporters on margins of a science event here. The three-member panel, headed by Law Commiss
  
  Read more

• IMF official says 'premature' to speak of Chinese crisis

  22-08-2015 16:23 via news.yahoo.com
  
  Fresh evidence of easing growth in China hammered global stock markets on Friday, driving Wall Street to its steepest one-day drop in nearly four years. "Monetary policies have been very expansive in recent years and an adjustment is necessary," said Carlo Cottarelli, an IMF executive director representing countries such as Italy and Greece on its board.
  
  Read more

• Mauritius targets annual economic growth rate of 5.5 pct from 2017

  22-08-2015 15:36 via news.yahoo.com
  
  Mauritius' economy is expected to grow at an annual average rate of 5.5 percent from 2017 driven by higher investments and a focus on manufacturing goods, the country's prime minister said on Saturday. The Indian Ocean island state's $10 billion a year economy depends on tourism, financial services and exports of agricultural goods. Anerood Jugnauth told a gathering of top government and private sector officials the island grew at an average rate of 3 percent annually over the past nine years.
  
  Read more

• Advertisement

• Emerging market worries prompt selloff, but bulls remain

  22-08-2015 13:06 via news.yahoo.com
  
  By David Randall NEW YORK (Reuters) - The steep selloff that pushed down the benchmark Standard & Poor's 500 index five percent over three days may say more about the outlook for emerging markets than U.S. companies in the fourth quarter, fund managers and analysts say. China's economic slowdown, recessions in Latin American countries such as Brazil and Chile, and a breakdown in commodity prices - combined with a thinly-traded market as many investors become more focused on tide charts than
  
  Read more

• Malaysian anti-graft agency seeks three in probe of former unit of 1MDB

  22-08-2015 12:44 via news.yahoo.com
  
  Malaysia's anti-graft agency on Saturday summoned three businessman to appear before it in an investigation of energy firm SRC International Sdn Bhd, a former unit of troubled state investment fund 1Malaysia Development Bhd (1MDB) [TERRN.UL]. 1MDB, whose advisory board is chaired by Prime Minister Najib Razak, has been dogged by controversy over its $11-billion debt and is being examined by authorities investigating accusations of financial mismanagement and graft. Najib is trying to reassert hi
  
  Read more

• Ghana doctors union to suspend three-week strike

  22-08-2015 11:45 via news.yahoo.com
  
  Doctors in Ghana will suspend a three-week strike they called to press for better conditions of service, the Ghana Medical Association (GMA) said on Friday. The decision will come as a relief to President John Mahama's government, which is under pressure to control spending and stick to the terms of an International Monetary Fund deal aimed at reviving economic growth and ending a fiscal crisis. The strike was the first major test of whether the government would adhere to the terms of the three-
  
  Read more

• Iran unveils new missile, says seeks peace through strength

  22-08-2015 10:26 via news.yahoo.com
  
  Iran on Saturday unveiled a new surface-to-surface missile it said could strike targets with pin-point accuracy within a range of 500 km (310 miles) and it said military might was a precondition for peace and effective diplomacy. The defense ministry's unveiling of the solid-fuel missile, named Fateh 313, came little more than a month after Iran and world powers reached a deal that requires Tehran to abide by new limits on its nuclear program in return for Western governments easing economic san
  
  Read more

• Advertisement

• Japan's Sharp in talks with Hon Hai on tie-up - Asahi

  22-08-2015 09:26
  TOKYO, Aug 22 (Reuters) - Japanese electronics maker Sharp Corp has entered negotiations with Taiwan's Hon Hai Precision Industry Co for a tie-up over Sharp's struggling display business, the Asahi...
  
  Read more

• Brazil judge asks for investigation of Rousseff re-election campaign

  22-08-2015 03:26 via news.yahoo.com
  
  The vice president of Brazil's TSE electoral authority on Friday asked for an investigation of President Dilma Rousseff's 2014 re-election campaign, citing evidence that it may have been financed with money from a corruption scheme at state-run oil firm Petroleo Brasileiro SA. In a document sent to federal prosecutors and federal police, Gilmar Mendes said a 17-month-old investigation into a massive price fixing and political kickback scandal had found evidence that Rousseff's Workers' Party was
  
  Read more

• US Stocks Tumble On China Slowdown Fears

  22-08-2015 02:24 via news.yahoo.com
  
  The US stock market has suffered its biggest one-day drop in nearly four years, driven by growing fears about a slowdown in China. It comes after a day of big losses abroad - the FTSE 100 in London ended the week 2.8% down, Germany's DAX fell 2.9% and the Shanghai Composite in China dropped 4.3%. Tokyo's Nikkei 225 index plunged 3% and Hong Kong's Hang Seng Index fell 1.5%.
  
  Read more

• UPDATE 2-Puerto Rico asks U.S. Supreme Court to overturn restructuring ruling

  22-08-2015 00:37
  NEW YORK, Aug 21 (Reuters) - Puerto Rico on Friday asked the U.S. Supreme Court to overturn a ruling that blocks the restructuring of the commonwealth's public agencies, as the island grapples with...
  
  Read more

• Global stocks plummet on fears over world economy

  22-08-2015 00:36 via news.yahoo.com
  
  World stock markets were hammered with heavy losses on Friday, as China's economic woes triggered European and Wall Street equity sell-offs and stirred up fears for global growth. Losses of more than 3.0 percent on Wall Street capped the day of market carnage, which began with a 4.27 percent drop in Shanghai after another unnerving sign of slowdown in China's manufacturing sector.
  
  Read more

• FDIC ready to act on Puerto Rico banks if needed -letter

  22-08-2015 00:30
  NEW YORK, Aug 21 (Reuters) - Puerto Rico's FDIC-insured banks are well capitalized but the Federal Deposit Insurance Corp stands ready to act if one should become insolvent, according to a letter...
  
  Read more

• Dollar drops as China's economic woes spook investors

  22-08-2015 00:25 via news.yahoo.com
  
  The dollar fell against other major currencies Friday as weak Chinese data stoked fresh jitters about the slowdown in the world's second-largest economy and its impact on global growth. "A hazy outlook for US interest rates and persistent concerns about the shape of the world economy continued to weigh on America's currency," said Joe Manimbo of Western Union Business Solutions. The dollar, typically a safe-haven currency in times of uncertainty, remained under pressure after Federal Reserve min
  
  Read more

• China fears hand Wall St. its worst day since 2011

  22-08-2015 00:21 via news.yahoo.com
  
  Wall Street's selloff this week suggested investors are growing nervous about paying high prices for stocks at a time of minimal earnings growth, tumbling energy prices and an expected rate hike by the U.S. Federal Reserve that could gradually usher the end of almost a decade of easy money. Stocks have seen few large moves this year, staying in a narrow range throughout 2015, but volatility spiked this month once China surprisingly devalued its currency. Weak Chinese manufacturing data on Friday
  
  Read more

• UPDATE 1-Vital Therapies crashes after liver therapy fails trial

  22-08-2015 00:05
  Aug 21 (Reuters) - Vital Therapies Inc lost three-quarters of its market value after the company said its liver therapy failed to meet its main goal in a late-stage study, raising doubts about the...
  
  Read more

Follow @FinanceUSA_News on Twitter!