Finance news

• Messaging system Symphony to add Dow Jones news content: FT

  13-09-2015 22:38 via news.yahoo.com
  
  (Reuters) - Wall Street-backed Symphony Communications Services LLC has struck a deal with News Corp-owned Dow Jones to offer news content in its service, the Financial Times reported on Sunday. In the deal likely to unveiled this week, Symphony will offer all of Dow Jones' newswire articles, including content from the Wall Street Journal and its Factiva archive, FT reported, citing people familiar with the situation. Symphony, a messaging and information startup, was first developed by Goldman
  
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• Last chance for Brazil's Rousseff to save mandate: newspaper

  13-09-2015 22:28 via news.yahoo.com
  
  Brazilian President Dilma Rousseff has one last chance to stem a growing political and economic crisis before being forced to step down, one of the country's leading daily newspapers said on Sunday. In an unusual front-page editorial, Folha de S.Paulo said Rousseff needs to take "drastic measures" including additional spending cuts and tax hikes to make up for a 2016 budget gap that has cost Brazil its investment-grade rating from Standard & Poor's. Rousseff, a leftist who was re-elected by
  
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• Top Brazil newspaper says Rousseff has last chance to save mandate

  13-09-2015 20:55 via news.yahoo.com
  
  A leading Brazilian newspaper said on Sunday that president Dilma Rousseff has one last chance to stem a growing political and economic crisis before being forced to step down. Daily Folha de S.Paulo said in an unusual front-page editorial that Rousseff needs to take "drastic measures," including additional spending cuts and tax hikes, to make up for a 2016 budget gap that has already cost Brazil its investment-grade rating from Standard & Poor's. Rousseff, re-elected by a thin margin for a
  
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• China releases state-owned company reform guidelines: Xinhua

  13-09-2015 20:29 via news.yahoo.com
  
  China on Sunday unveiled broad reform guidelines for state-owned companies aimed at making them more globally competitive and increasing transparency in a powerful sector of the world's second-largest economy. The guidelines, issued by the ruling Communist Party and the State Council, or cabinet, are meant to "deepen reforms" and "invigorate torpid SOEs" (state-owned enterprises), said the official Xinhua news agency. "The government will improve the competence of SOEs and turn them into fully i
  
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• Indian Prime Minister Narendra Modi to join Facebook Q&A

  13-09-2015 19:39 via news.yahoo.com
  
  Modi, one of the world's most tech-savvy politicians, will join Mark Zuckerberg to discuss a variety of subjects, including how communities can address social and economic challenges.
  
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• China unveils details of state-firm reforms as growth sputters

  13-09-2015 17:19 via news.yahoo.com
  
  China unveiled details on Sunday of how it would restructure its state-owned enterprises (SOEs), including partial privatization, as data pointed to a cooling in the world's second-largest economy. The guidelines, jointly issued by the Communist Party's Central Committee and the State Council, China's cabinet, included plans to clean up and integrate some state firms, the official Xinhua news agency said. Reform of underperforming state-owned enterprises is one of China's most pressing needs.
  
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• Minister says Germany reaching its limits in refugee crisis: newspaper

  13-09-2015 16:34 via news.yahoo.com
  
  German Economy Minister Sigmar Gabriel said in a newspaper interview on Sunday that Germany was now reaching its limit as thousands of refugees continue to stream across its borders every day. "It's true: The European lack of action in the refugee crisis is now pushing even Germany to the limit of its ability," he said in the interview published on Der Tagesspiegel's website. Gabriel said Germany and Europe should together put up 1.5 billion euros ($1.7 billion) of immediate aid to provide food,
  
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• Irish government support rises, Sinn Fein fall as election nears

  13-09-2015 16:23 via news.yahoo.com
  
  Support for Ireland's governing parties has returned to the highest level seen in over a year as support for left-wing challenger Sinn Fein fell over the past two months, a leading poll said on Sunday. Prime Minister Enda Kenny has six months to call an election and his coalition government are pinning their hopes on voters starting to benefit from Europe's best performing economy that grew by seven percent in the first half of 2015. Kenny's Fine Gael party is supported by 28 percent of voters,
  
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• German econmin: We're reaching our limits in refugee crisis - newspaper

  13-09-2015 15:45 via news.yahoo.com
  
  BERLIN (Reuters) - German Economy Minister Sigmar Gabriel said in a newspaper interview on Sunday that Germany was now reaching its limit as thousands of refugees continue to stream across its borders every day. "It's true: The European lack of action in the refugee crisis is now pushing even Germany to the limit of its ability," he said in an interview published on the Der Tagesspiegel's website. The German government is expecting 800,000 new arrivals this year. On Saturday around 13,000 arrive
  
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• China unveils details of state-firm reform as growth sputters

  13-09-2015 15:26 via news.yahoo.com
  
  China unveiled details on Sunday of how it would restructure its mammoth state enterprise sector, including partial privatization, as data pointed to a cooling in the world's second-largest economy. The guidelines, jointly issued by the Communist Party's Central Committee and the State Council, China's cabinet, included plans to clean up and integrate some state firms, the official Xinhua news agency said. Reform of underperforming state-owned enterprises (SOEs) is one of China's most pressing n
  
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• America's city rankings set for Texas-sized shake up; Houston to edge past Chicago

  13-09-2015 15:05 via news.yahoo.com
  
  Hidden in the haze of the petrochemical plants and beyond the seemingly endless traffic jams, a Texas city has grown so large that it is poised to pass Chicago as the third biggest in the United States in the next decade. Houston has been one of the fastest-growing U.S. cities for years, fueled an energy industry that provided the backbone of the economy, low taxes and prospects of employment that have attracted job seekers. Houston's move is also indicative of demographic shifts unfolding in th
  
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• Swatch CEO plays down China turbulence: newspaper

  13-09-2015 14:57 via news.yahoo.com
  
  Swiss watchmaker Swatch is not worried by economic and market turbulence in China, Chief Executive Nick Hayek told a Sunday newspaper, noting its sales to Chinese customers will rise when stripping out exchange rate swings. "This year as well we will sell the Chinese in China and outside of China more than last year in local currencies," he said in an interview with Schweiz am Sonntag. The Swatch brand alone is generating 15 percent growth in mainland China and other brands single-digit growth w
  
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• As crisis escalates, Berlin says refugees can not choose where to live

  13-09-2015 14:09 via news.yahoo.com
  
  By Michelle Martin and Jens Hack BERLIN/MUNICH (Reuters) - German Interior Minister Thomas de Maiziere said refugees streaming into Europe should not be able to choose where to settle, as authorities said thousands more were on the move across the continent on Sunday. Germany, Europe's largest and richest economy, has been a magnet for many people fleeing war and poverty in Syria and other parts of the Middle East and Africa. In an interview with German newspaper Der Tagesspiegel, de Maiziere sa
  
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• Renault CEO Ghosn unfazed by China slowdown

  13-09-2015 13:38 via news.yahoo.com
  
  French carmaker Renault is unconcerned with a slowdown in the Chinese economy hitting sales there, Chief Executive Carlos Ghosn said in an interview published on Sunday. Ghosn said Renault is selling 30,000 cars a year in China ahead of the launch of factory there next year. Recent data from China has raised the chances that third-quarter economic growth may dip below 7 percent for the first time since the global crisis.
  
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• China August industrial output up 6.1% year-on-year

  13-09-2015 13:25 via news.yahoo.com
  
  Growth in China's industrial production and retail sales accelerated in August, government data showed Sunday, but the figures will do little to ease international concern about the world's second-largest economy. Industrial production, which measures output at factories, workshops and mines, rose 6.1 percent year-on-year, the National Bureau of Statistics (NBS) announced, describing the sector as still weak. The figure outpaced July's year-on-year gain of 6.0 percent but was below a median fore
  
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• China banks' first-quarter capital outflow $109 billion, may persist: BIS

  13-09-2015 12:10 via news.yahoo.com
  
  Chinese banks saw net capital outflows of $109 billion in the first quarter of 2015 and weak incentives to hold renmimbi positions indicate capital may keep trickling out, a BIS report said on Sunday. In its quarterly review, the Bank for International Settlements said that international banking statistics showed the money had flowed from banks inside China to overseas banks, putting downward pressure on the currency. China devalued the yuan - or renmimbi - on Aug. 11 and has been spending heavi
  
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• Worries over emerging markets deepening - BIS

  13-09-2015 12:05 via news.yahoo.com
  
  By Patrick Graham LONDON (Reuters) - Concerns over the world's major emerging economies, and in particular China, are growing as financial investors reassess the outlook for global growth, the Bank of International Settlements said on Sunday. Introducing the report in a briefing for journalists, Claudio Borio, head of the BIS' monetary and economic department, said that the falls in China's stock market should be seen as part of a broader response to increasingly stark financial imbalances. "Inv
  
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• China economic growth sputters in August, more support measures seen

  13-09-2015 10:10 via news.yahoo.com
  
  Growth in China's investment and factory output missed forecasts in August, pointing to a further cooling in the world's second-largest economy that will likely prompt the government to roll out more support measures. The downbeat data came on the heels of weak trade and inflation readings, raising the chances that third-quarter economic growth may dip below 7 percent for the first time since the global crisis. Fears of a China-led global economic slowdown have roiled global markets in recent we
  
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• Divided on diagnosis, EU ponders euro zone reform

  13-09-2015 10:07 via news.yahoo.com
  
  By Paul Taylor VIENNA (Reuters) - Overshadowed by Europe's twin dramas over refugees and Greek debt, debate is bubbling up over how to strengthen European monetary union after six years of debilitating crisis. It pits those who believe the 19-nation euro zone needs to take a bold step toward federal integration to survive as a stable currency area on one side, against those who argue that with scant public or political appetite for sharing more sovereignty, Europe just has to keep muddling throu
  
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• China August commodities output weak as economic slowdown bites

  13-09-2015 09:10 via news.yahoo.com
  
  China's output of key industrial commodities including coal and steel weakened in August, as government measures to cut smog ahead of World War Two commemorations further cut production already lowered by a slowing economy. Growth in China's investment and factory output missed forecasts in the month, pointing to a further cooling in the world's second-largest economy that will likely prompt the government to roll out more support measures.
  
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• China August industrial output up 6.1% year-on-year: govt

  13-09-2015 08:04 via news.yahoo.com
  
  China's industrial production, which measures output at factories, workshops and mines in the world's second-largest economy, rose 6.1 percent year-on-year in August, the government said on Sunday. Retail sales, a key indicator of consumer spending, increased 10.8 percent in the same month from a year earlier, the National Bureau of Statistics (NBS) said. Fixed asset investment, a measure of government spending on infrastructure, expanded 10.9 percent on-year in the January-August period.
  
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• India escapes the worst of emerging markets misery

  13-09-2015 07:52 via news.yahoo.com
  
  Three years ago India was the weakling of the emerging markets clan, politically stagnant and struggling to grow -- but as gloom engulfs other developing economies, the subcontinent is enjoying a moment in the sun. Brazil and Russia lie deep in recession and South Africa is teetering on the brink after demand for raw materials collapsed, while alarm bells have sounded over fears the China juggernaut may be faltering. Enter India, once dubbed the Broken BRIC, as the core group is known, now poise
  
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• China grapples with risk of economic hard landing

  13-09-2015 06:41 via news.yahoo.com
  
  When Chinese Premier Li Keqiang sought to reassure business leaders that the world's second-largest economy can stave off a hard landing, he acknowledged mounting fears of exactly that, and analysts say the adjustment to slower growth will be painful. Just six months ago, Li set a 2015 economic growth target of "around seven percent", confidently telling lawmakers that the economy was adjusting to a "new normal".
  
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• Catalonia business split over independence before vote

  13-09-2015 05:50 via news.yahoo.com
  
  A disaster or a blessing, business leaders are divided over Catalonia's independence drive with some fearing the economy of Spain's richest region could run off the tracks, while others think it would be a good move. Catalonia, Spain's leading source of exports and its most popular tourist destination, will vote in a regional election on September 27 that local politicians are billing as a de facto referendum on independence. Separatists say an independent Catalonia would have a GDP per capita t
  
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• World on edge as Fed weighs rate increase

  13-09-2015 04:30 via news.yahoo.com
  
  The possibility that the Federal Reserve could raise interest rates for the first time in over nine years this week has injected new levels of anxiety in the global economy. With markets still in turmoil from China's downturn and sensitive to any added uncertainty, calls from economists for the Fed to hold off are being countered by pushes from emerging economy officials to get the long-awaited move over with. The Fed itself is anxious to get off that extraordinarily low level, and US economic g
  
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• UK rates need to rise 'relatively soon' - BoE's Weale

  13-09-2015 03:25 via news.yahoo.com
  
  A Bank of England policymaker said interest rates need to rise "relatively soon" as wages pick up, adding to signs that support is gradually building for the first increase in British borrowing costs since before the financial crisis. Martin Weale, one of the Bank's rate-setters, also said a rise would give the central bank scope to cut if the British economy runs into trouble in the future. "With wage growth remaining firm, the tightening labour market means that inflation is likely to rise abo
  
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• West Africa's ECOWAS extends mission in crisis-hit Guinea-Bissau

  13-09-2015 01:12 via news.yahoo.com
  
  West Africa's ECOWAS regional bloc on Saturday extended a security force in Guinea-Bissau into 2016 to help protect state institutions amid a political crisis that has left the country without a government. Senegal President Macky Sall, who heads the Economic Community Of West African States (ECOWAS), called the extraordinary summit to discuss a political crisis in coup-prone Guinea-Bissau sparked when President Jose Mario Vaz dismissed the prime minister a month ago.
  
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