Finance news

• Bernanke: Wall St execs should have gone to jail for crisis

  04-10-2015 23:16 via news.yahoo.com
  
  WASHINGTON (AP) — Former Federal Reserve Chairman Ben Bernanke says some Wall Street executives should have gone to jail for their roles in the financial crisis that gripped the country in 2008 and triggered the Great Recession.
  
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• Germany now expects up to 1.5 million migrants in 2015: newspaper

  04-10-2015 23:08 via news.yahoo.com
  
  German authorities expect up to 1.5 million asylum seekers to arrive in Germany this year, the Bild daily said in a report to be published on Monday, up from a previous estimate of 800,000 to 1 million. Germany's top-selling newspaper cited an internal forecast from authorities that it said had been classed as confidential. Many of the hundreds of thousands of people pouring into Europe to escape conflicts and poverty in the Middle East, Africa and beyond have said they are heading to Germany, E
  
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• Germany needs to limit refugee influx, close borders: Merkel allies

  04-10-2015 20:54 via news.yahoo.com
  
  By Michelle Martin BERLIN (Reuters) - Germany needs to limit the number of refugees it takes in or even close its borders, conservative allies of German Chancellor Angela Merkel said at the weekend, as the country deals with record inflows of people fleeing from war and poverty. Around 800,000 migrants are expected to arrive in Germany, Europe's largest and richest economy, this year and complaints from politicians, the federal states and the municipalities that they cannot cope are growing. Ger
  
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• Argentine ruling party extends presidential vote lead: poll

  04-10-2015 16:25 via news.yahoo.com
  
  Daniel Scioli, the ruling party's candidate for Argentina's presidential election, has extended his lead but cannot yet be sure of an outright win in this month's first round, a poll showed on Sunday. Scioli, from President Cristina Fernandez's Front for Victory party, was drawing 38.6 percent support among those who have decided their vote, according to a Management & Fit poll. Scioli has made new investment a cornerstone of his campaign platform, but has given few clues on the changes he w
  
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• Spain bets on German-style apprentices to fix youth unemployment

  04-10-2015 16:00 via news.yahoo.com
  
  By Raquel Castillo and Sonya Dowsett MADRID (Reuters) - Kelvin Heredia dropped out of school aged 16 during the heady days of Spain's real estate boom to take up well-paid work as a window fitter. Now, a decade later, Heredia is unemployed and without qualifications, a plight that highlights two intractable problems holding back Spain's economy - the highest youth unemployment rate in the European Union, a ranking it reclaimed from Greece in June, and the highest school drop-out rate. Youth unem
  
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• England braces for financial fallout after World Cup collapse

  04-10-2015 15:49 via news.yahoo.com
  
  A nation was left reeling Sunday after England crashed out of its own Rugby World Cup, with experts predicting the country would take an economic hit to add to the huge sporting blow. England suffered the humiliation of becoming the first World Cup host nation to bow out in the first round after a 33-13 defeat to Australia at Twickenham ended their hopes of reaching the quarter-finals. Rugby World Cup organisers insisted the competition as a whole would not be affected, with stadiums all but sol
  
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• Portuguese go to polls, may reelect austerity-minded government

  04-10-2015 11:42 via news.yahoo.com
  
  By Axel Bugge and Andrei Khalip LISBON (Reuters) - The Portuguese voted in a national election on Sunday with polls predicting another win for their austerity-minded, center-right government that guided them through an economic crisis, though it could fall short of an outright majority. The general election is the first since Portugal exited an international bailout last year. The latest polls, released on Friday, gave Prime Minister Pedro Passos Coelho's ruling coalition a lead of between five
  
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• Ethiopia aims to grow tourism threefold in five years: minister

  04-10-2015 11:04 via news.yahoo.com
  
  By Aaron Maasho ADDIS ABABA (Reuters) - Ethiopia aims to triple its number of foreign visitors to more than 2.5 million by 2020, making tourism a pillar of one of Africa's fastest-growing economies. Buoyed by huge spending on infrastructure and an expansion of its services and agricultural sectors, Addis Ababa expects annual economic growth of around 11 percent for the next five years.
  
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• Merkel says VW scandal has not hurt Germany's reputation as good place for business

  04-10-2015 09:38 via news.yahoo.com
  
  German Chancellor Angela Merkel told a German radio station that the emissions scandal around German carmaker Volkswagen was "drastic" but the damage was not so great that Germany was no longer deemed a good place to do business. "I believe the reputation of the German economy and the trust in the German economy has not been shaken by this to the extent that we are no longer considered a good business location," she told Deutschlandfunk, according to the text of an interview due to be broadcast
  
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• National Bank of Kuwait gets c.bank assent for capital-boosting bond

  04-10-2015 09:34 via news.yahoo.com
  
  DUBAI, Oct 4 (Reuters) - National Bank of Kuwait (NBK) has received central bank approval to issue capital-boosting bonds worth up to 125 million dinars ($413.6 million), the Gulf Arab state's largest commercial lender said in a bourse filing on Sunday. The lender has also received preliminary approval from the stock market regulator, it said in the filing. NBK will be issuing bonds which will be Basel III-compliant and will enhance its Tier 2, or supplementary, capital, the statement added. ($1
  
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• Earnings season, macro data to drive equity markets

  04-10-2015 08:30 via news.yahoo.com
  
  Mumbai, Oct 4 (IANS) The quarterly results season and crucial global financial data points, coupled with fears of an upcoming US rate hike, might spook investors and flare up volatility in the Indian equity markets during the weekly trade commencing from October 5. Market watchers assert that the fears of a US rate hike and stumbling Asian markets might force Indian equities to cede the gains made during the recent rally on the back of a substantial rate cut by the Reserve Bank of India (RBI). "
  
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• Pacific trade ministers to meet Sunday after latest impasse

  04-10-2015 07:47 via news.yahoo.com
  
  Trade ministers of 12 Pacific Rim countries failed again to conclude a deal on a huge free-trade area and will meet one more time Sunday in hopes of reaching agreement. The ministers attempting to nail down a deal encompassing 40 percent of the global economy began meeting late Saturday with hopes of a breakthrough, but the talks in Atlanta broke up after only about 15 minutes, with little progress. Already once this year, in July in Hawaii, trade ministers gathered with expectations of a deal -
  
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• As China growth flags, analysts weigh alternative indicators

  04-10-2015 07:11 via news.yahoo.com
  
  As once-stellar growth rates start to dip, watchers of China's mammoth economy worry that it could be worse than it looks because the official figures might not be telling the whole story. Leaked US diplomatic cables show that as the top official in Liaoning province in 2007, he told the then-US ambassador that such data was "man-made" and thus unreliable.
  
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• Bitcoin flounders in Australia as regulatory worries bite

  04-10-2015 05:18 via news.yahoo.com
  
  By Byron Kaye and Swati Pandey SYDNEY (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading.     Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges. The development is a blow to hopes of bitcoin fans that the currency can play a
  
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• EU's Schulz says Volkswagen scandal a 'heavy blow' for German economy

  04-10-2015 05:07 via news.yahoo.com
  
  The head of the European Parliament told a group of German regional newspapers that the emissions scandal at Volkswagen (VW) would hit the German economy hard but Europe's biggest carmaker was likely to survive the crisis. Germany's finance and economy ministers have played down the risk of a broader economic danger for Germany from the scandal. "It's a heavy blow for the German economy as a whole," Martin Schulz, a German Social Democrat, was quoted as saying by the newspapers.
  
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• UPDATE 1-British PM Cameron says will not be rushed on EU referendum date

  04-10-2015 00:32
  MANCHESTER, England, Oct 3 (Reuters) - Prime Minister David Cameron said his renegotiation of Britain's ties with the European Union was "bloody hard work" but that he would not be rushed into naming...
  
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