Finance news

• Selling Your Middle Market Business -- Federal Tax Considerations For Residents Of Zero-Tax States

  10-10-2015 23:25 via news.yahoo.com
  
  Sellers of businesses who are residents of zero-income-tax states can reduce their federal income tax burden through a long-used type of trust typically used by residents of high-income-tax states. At ...
  
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• ECB chief urges Athens to implement reforms

  10-10-2015 21:43 via news.yahoo.com
  
  The head of the European Central Bank Mario Draghi congratulated Greece on its progress but urged Athens to quickly implement pledged reforms in an interview to be published Sunday. "Many things have taken a turn for the better in a very short period of time," Draghi said in an interview with Greek daily Katherimini. A first tranche of bailout funds -- around 10 billion euros ($11.4 billion) -- has been made available, and a second tranche of up to 15 billion euros is expected after a review of
  
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• Major central banks should not raise rates to discourage EM risks: BoE's Shafik

  10-10-2015 21:33 via news.yahoo.com
  
  Calls for central banks in advanced economies to raise interest rates to discourage investors building up leverage in emerging market assets could be misguided, a deputy governor of the Bank of England said on Saturday. Speaking at a panel at the International Monetary Fund conference in Lima, she said it was preferable to use macroprudential tools rather than monetary policy when targeting global financial risks. "The risk inherent in this build up of leverage (in emerging markets) has motivate
  
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• Three killed in violent unrest in Iraq's Kurdistan region

  10-10-2015 21:24 via news.yahoo.com
  
  By Isabel Coles ERBIL, Iraq (Reuters) - Three people were killed in a third day of violent unrest in Iraq's Kurdistan region on Saturday, as protesters attacked or torched several offices of the Kurdistan Democratic Party (KDP) in Sulaimaniyah province. The protests, the most serious the region has seen for years, began on Oct. 1 as a show of public anger over an economic crisis that many blame on the Kurdistan Regional Government (KRG), in which the KDP and other parties are partners.
  
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• Central bank cavalry can no longer save the world

  10-10-2015 21:18 via news.yahoo.com
  
  By David Chance LIMA (Reuters) - In 2008 central banks, led by the Federal Reserve, rode to the rescue of the global financial system. A report by the Group of Thirty, an international body led by former European Central Bank chief Jean-Claude Trichet, warned on Saturday that zero rates and money printing were not sufficient to revive economic growth and risked becoming semi-permanent measures. "Central banks have described their actions as 'buying time' for governments to finally resolve the cr
  
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• Egypt, France sign warships deal as PM starts Arab tour

  10-10-2015 20:05 via news.yahoo.com
  
  Egypt signed a deal with France Saturday to buy two Mistral warships originally ordered by Russia as French Prime Minister Manuel Valls began an Arab tour. Valls arrived in Cairo at the start of visits to three nations aimed at boosting economic ties and holding talks on regional conflicts, and met with President Abdel Fattah al-Sisi. The Mistrals contract illustrates the rapprochement Paris has had with the regime of former army chief Sisi, who ousted elected Islamist president Mohamed Morsi in
  
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• Protesters attack party offices in Iraq's Kurdistan region

  10-10-2015 15:23 via news.yahoo.com
  
  Protesters attacked several offices of the main political party in Iraq's Kurdish north on Saturday in a third day of violent unrest that threatens to destabilize the region at a time of war with Islamic State militants. The demonstrations that began on Oct. 1 initially targeted the autonomous region's government, which many Kurds blame for an economic crisis that has left them struggling to pay the bills. The region's president, Massoud Barzani, called for calm but young men blocked a main road
  
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• Protesters attack party offices in Iraq's Kurdistan

  10-10-2015 14:52 via news.yahoo.com
  
  Protesters attacked several offices of the main political party in Iraq's Kurdish north on Saturday in a third day of violent unrest that threatens to destabilize the region at a time of war with Islamic State militants. The demonstrations that began on Oct. 1 initially targeted the autonomous region's government, which many Kurds blame for an economic crisis that has left them struggling to pay the bills. The region's president, Massoud Barzani, called for calm but young men blocked a main road
  
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• Tanzania's economic growth slows to 7.9 pct in second quarter, yr-on-yr

  10-10-2015 13:49 via news.yahoo.com
  
  DAR ES SALAAM (Reuters) - Tanzania's economic growth slowed in the second quarter compared with the same period a year ago, hit by slowdowns in the manufacturing, construction, transport and communications sectors, data showed on Saturday. The economy grew 7.9 percent in the April-June period, year-on-year down from 10.1 percent in the second quarter of 2014, the National Bureau of Statistics (NBS) said. The manufacturing sector, an important source of foreign exchange, slowed to 6.9 percent gro
  
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• After 75 winners, Nobel Economics Prize still contentious

  10-10-2015 09:22 via news.yahoo.com
  
  For economists, who often disagree with one another and get their forecasts wrong, the idea of a Nobel Prize for economics remains controversial after 75 years. This year's winner of the "Prize in Economic Sciences in Memory of Alfred Nobel" will be announced on Monday at 1:00 pm (1100 GMT) at a ceremony in Stockholm that wraps up the 2015 Nobel season. Each year, critics note that Alfred Nobel, the Swedish philanthropist and scientist who founded the other awards, never had the idea to reward e
  
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• Russian finmin says no agreement with Ukraine on Kiev debt to Moscow, dialogue to continue

  10-10-2015 04:39
  LIMA, Oct 10 (Reuters) - Russian Finance Minister Anton Siluanov said on Friday that there was no agreement reached at a meeting with his Ukrainian counterpart Natalia Yaresko on Friday on Kiev's...
  
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• Mexico expects first results in Volkswagen probe in three months

  10-10-2015 04:27 via news.yahoo.com
  
  Mexico expects preliminary findings from a probe into Volkswagen's compliance with emissions standards within three months, the environment minister said on Friday, adding the review will include gasoline-fueled cars as well as diesel. Mexico announced last month it was investigating whether Volkswagen cars complied with emissions rules in Latin America's second economy, after Europe's largest carmaker admitted to cheating in U.S. diesel emissions tests. "I expect we can begin to have the first
  
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• Mexico expects first results in Volkswagen probe in 3 months

  10-10-2015 04:16
  MEXICO CITY, Oct 9 (Reuters) - Mexico expects preliminary findings from a probe into Volkswagen's compliance with emissions standards within three months, the environment minister said on Friday,...
  
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• IMF's 'credibility' at stake in reform row: Lagarde

  10-10-2015 04:03 via news.yahoo.com
  
  Washington's use of its de facto veto at the International Monetary Fund to block reforms giving emerging countries a greater say is jeopardizing the IMF's credibility, its leader said. The IMF has been caught up in a protracted, politically charged battle over reforms intended to reflect the changing global economy by giving emerging giants such as China more weight at the Fund. "It is an issue for the credibility and the representativeness of the institution, particularly vis-a-vis the under-r
  
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• Ukraine finmin says called on Russia to take part in Kiev's debt restructuring

  10-10-2015 04:02
  LIMA, Oct 9 (Reuters) - Ukraine's finance minister, Natalia Yaresko, said on Friday she called on her Russian counterpart, Anton Siluanov, at a meeting to participate in a restructuring of Kiev's...
  
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• NY approves M&T's acquisition of Hudson City Bancorp

  10-10-2015 03:26
  
  (Reuters) - New York's banking regulator on Friday said he had approved M&T Bank Corp's acquisition of Hudson City Bancorp Inc, paving the way for the merger to be completed on Nov. 1.
  
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• PetSmart-Petco merger talks stall over antitrust risk: sources

  10-10-2015 03:19
  
  (Reuters) - PetSmart Inc's talks to acquire Petco Holdings Inc have stalled over disagreements about sharing the risk of getting the deal approved by U.S. antitrust authorities, people familiar with...
  
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• Dell to use VMware to help pay for EMC deal: sources

  10-10-2015 03:19
  
  (Reuters) - Dell Inc is planning to use equity in cloud software company VMware Incto help pay for its acquisition of EMC Corpin a deal valuing the data storage company at more than $55 billion,...
  
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• CORRECTED-PetSmart-Petco merger talks stall over antitrust risk -sources

  10-10-2015 03:18
  Oct 9 (Reuters) - PetSmart Inc's talks to acquire Petco Holdings Inc have stalled over disagreements about sharing the risk of getting the deal approved by U.S. antitrust authorities, people familiar...
  
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• DocuSign CEO resigns as company heads toward IPO -source

  10-10-2015 03:02
  SAN FRANCISCO, Oct 9 (Reuters) - The chief executive officer of DocuSign has resigned, according to an internal memo, signaling a leadership change for a well-funded tech company that is on the brink...
  
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• UPDATE 1-BOJ's Kuroda blames low inflation on oil, sees no imminent need for easing

  10-10-2015 02:57
  * Says emerging nations have buffers to weather capital outflows
  
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• Lockheed F-35s finish at-sea test flights as US Navy warms to new jet

  10-10-2015 02:44
  ABOARD USS EISENHOWER, Oct 9 (Reuters) - Two Lockheed Martin Corp F-35 fighter jets wrapped up a second round of successful test flights off the USS Dwight D. Eisenhower aircraft carrier on Friday, a...
  
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• JPMorgan again wins dismissal of whistleblower lawsuit in U.S.

  10-10-2015 02:39
  NEW YORK, Oct 9 (Reuters) - JPMorgan Chase & Co on Friday won the dismissal of a U.S. whistleblower lawsuit filed by a former vice president who claimed the bank ignored red flags about a client's...
  
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• BOJ's Kuroda: No immediate need for additional stimulus

  10-10-2015 02:03
  LIMA, Oct 9 (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Friday he saw no immediate need for advanced nations' policymakers to offer additional fiscal and monetary measures to stimulate...
  
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• DIARY-Top Economic Events to Oct 22

  10-10-2015 02:01
  Major central bank events ** This Diary is filed daily ** -----------------------------------------------------------
  
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• ECB's Weidmann - downside growth risks have increased

  10-10-2015 01:48
  LIMA, Oct 9 (Reuters) - The euro zone is undergoing a gradual economic recovery though downside risks to growth have increased in tandem with weakness in emerging markets, European Central Bank...
  
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• UPDATE 2-Pentagon denies Russian rocket engine waiver for Lockheed-Boeing venture

  10-10-2015 01:39
  WASHINGTON, Oct 9 (Reuters) - The Pentagon on Friday declined to waive a U.S. law banning the use of Russian rocket engines for military and spy satellite launches, rejecting an urgent request from...
  
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• UPDATE 1-Small U.S. shale firm scraps dividends as it explores all options

  10-10-2015 01:16
  Oct 9 (Reuters) - Oil and gas producer Magnum Hunter Resources Corp, laden with debt and stung by the worst market downturn in six years, scrapped its dividends on Friday and hired a financial...
  
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• UK lawmakers to weigh up economic case for EU exit

  10-10-2015 01:10 via news.yahoo.com
  
  British lawmakers will start an inquiry into the costs and benefits of staying in the European Union next week as campaigning gets underway for a referendum on the country's EU membership. Legislators from the cross-party Treasury Committee -- who normally monitor the Bank of England, finance ministry and banks -- are set to start hearing from officials this month. "This inquiry will be wide-ranging, dealing with all the economic and financial consequences of the UK's EU membership, and the impa
  
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• Rate hike looming, Fed means no harm to global economy: Fischer

  10-10-2015 01:02 via news.yahoo.com
  
  (Reuters) - The Federal Reserve aims to avoid harming the global economy as it approaches an interest rate hike, the U.S. central bank's deputy said on Friday, adding that foreign central bankers are telling him they are prepared for the policy change. "We don't want to have any unnecessary volatility of interest rates or of the markets.
  
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• Ontario Court approves U.S. Steel's plan to separate Canadian unit

  10-10-2015 00:40
  Oct 9 (Reuters) - United States Steel Corp said on Friday the Ontario Superior Court of Justice has approved the separation of the company from its Canadian unit.
  
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• Brazil's Rousseff says looking at ways to open economy

  10-10-2015 00:40
  Oct 9 (Reuters) - Brazil's President Dilma Rousseff said on Friday she believes the country's economy is still too closed to foreign trade and that her government is looking at ways to open it to...
  
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• Bombardier in talks with North American airlines on CSeries jet orders

  10-10-2015 00:39
  
  TORONTO/PARIS (Reuters) - Canada's Bombardier Incsaid on Friday it is in advanced discussions to sell its new CSeries jet to airlines in North America, without identifying the prospective buyers.
  
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• UPDATE 1-Bombardier in talks with North American airlines on CSeries jet orders

  10-10-2015 00:38
  TORONTO/PARIS, Oct 9 (Reuters) - Canada's Bombardier Inc said on Friday it is in advanced discussions to sell its new CSeries jet to airlines in North America, without identifying the prospective...
  
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• Sientra suspends sales of medical implants made by Brazilian contract partner

  10-10-2015 00:35
  Oct 9 (Reuters) - Breast implant maker Sientra Inc said it has placed a temporary hold on sales of medical implants made by a Brazilian contract manufacturer, sending its shares down 11 percent in...
  
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• Ferrari's U.S. IPO to raise as much as $900 million

  10-10-2015 00:31
  
  (Reuters) - Italian sports car maker Ferrari's U.S. IPO is expected to raise as much as $900 million at the planned price range of $48-$52 per share.
  
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• UPDATE 1-Ferrari's U.S. IPO to raise as much as $900 mln

  10-10-2015 00:30
  Oct 9 (Reuters) - Italian sports car maker Ferrari's U.S. IPO is expected to raise as much as $900 million at the planned price range of $48-$52 per share.
  
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• Exclusive: GE nears deal to sell over $30 billion of loans to Wells Fargo - source

  10-10-2015 00:29
  
  (Reuters) - General Electric Cois in advanced talks to sell a specialty finance portfolio, worth more than $30 billion, to Wells Fargo & Co , according to a person familiar with the matter, as the...
  
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• Magnum Hunter to explore strategic options

  10-10-2015 00:28
  Oct 9 (Reuters) - Oil and gas producer Magnum Hunter Resources Corp said it hired advisers to explore strategic options and suspended monthly dividends on its preferred stock.
  
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• UPDATE 2-Twitter plans layoffs next week - Re/code

  10-10-2015 00:20
  * Shares fall 3 pct in extended trading (Adds share activity, company background)
  
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