Finance news

• Argentina's Scioli ahead in presidential vote: TV

  25-10-2015 22:27 via news.yahoo.com
  
  By Sarah Marsh and Richard Lough BUENOS AIRES (Reuters) - Argentina's ruling party candidate Daniel Scioli had a wide lead in Sunday's presidential election, TV exit polls showed, but it was not clear if he had enough votes to secure an outright win and avoid a run-off. TV station C5N said Scioli had won "by a large margin." To win outright in the first round, a candidate needs 45 percent of votes or 40 percent and a 10 percentage point margin over their nearest rival. Scioli is backed by outgoi
  
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• Alibaba results likely to dim outlook for China consumer spending

  25-10-2015 22:12 via news.yahoo.com
  
  By John Ruwitch SHANGHAI (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd's second-quarter revenue growth is likely to have slumped to half the year-earlier rate, undermining hopes consumer spending will temper a slowdown in the world's second-biggest economy. Beijing is hoping that private consumption will pick up the slack as exports fall and it tries to rebalance the economy - now heading for its slowest full-year growth in 25 years - away from a reliance on trade and government
  
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• Winner of Poland's election eyes bank tax on assets as of 2016

  25-10-2015 21:50 via news.yahoo.com
  
  WARSAW (Reuters) - Poland's Law and Justice (PiS) party, which an exit poll indicated as the decisive winner of Sunday's parliamentary election, wants to tax banks' assets at 0.39 percent starting in 2016, the party's leading economic expert Zbigniew Kuzmiuk said. Kuzmiuk also said a new PiS government would respect the independence of the Polish central bank but expects all state institutions to support economic growth in the country. (Reporting by Pawel Sobczak, Writing by Gabriela Baczynska a
  
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• Polls close in peaceful Ivory Coast post-war presidential vote

  25-10-2015 21:12 via news.yahoo.com
  
  By Ange Aboa and Loucoumane Coulibaly ABIDJAN (Reuters) - Poll workers in Ivory Coast began counting ballots on Sunday after a day of peaceful voting in a presidential election seen as crucial to turning the page on a decade-long political crisis and a civil war in 2011. President Alassane Ouattara, whose leadership has helped the West African nation re-emerge as a rising economic star on the continent, is facing a divided opposition and is heavily favored to win re-election. "For the moment we
  
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• Ivory Coast extends voting in post-war presidential poll

  25-10-2015 19:36 via news.yahoo.com
  
  By Ange Aboa and Loucoumane Coulibaly ABIDJAN (Reuters) - Ivory Coast's election commission extended voting in Sunday's presidential poll after logistical problems in many areas delayed the start of the vote, seen as crucial to turning the page on a decade-long political crisis and a civil war in 2011. President Alassane Ouattara, whose leadership has helped the West African nation re-emerge as a rising economic star on the continent, is facing a divided opposition and is heavily favored to win
  
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• Euro zone inflation could stay low for months: Bank of Italy official

  25-10-2015 18:46 via news.yahoo.com
  
  Europe's economy needs more monetary stimulus to prop up the rate of inflation, which could stay low for some time, the deputy head of the Bank of Italy said in an interview published on Sunday. Fabio Panetta's comments came after European Central Bank chief Mario Draghi said on Thursday the ECB was studying new stimulus measures in a bid to spur economic growth and shore up inflation. "Inflation has been well below our target for the euro zone for some time and it could continue to be too low f
  
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• Airbus boss calls on Germany to open up labor market to refugees

  25-10-2015 17:16 via news.yahoo.com
  
  Germany should deregulate its labor market and create more lower-paid jobs to help refugees find work and integrate better into society, the head of Europe's largest aerospace group Airbus said on Sunday. Germany expects at least 800,000 migrants to arrive this year alone, almost 1 percent of the population, many of them fleeing conflicts in Syria and elsewhere. Politicians and economists have warned the influx will push up unemployment in Europe's biggest economy.
  
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• UAE cabinet approves slightly smaller federal budget for 2016

  25-10-2015 16:42
  DUBAI, Oct 25 (Reuters) - The cabinet of the United Arab Emirates approved a slightly smaller federal budget for 2016, state news agency WAM reported on Sunday, in a sign that the country is curbing...
  
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• Poland's Eurosceptic conservatives set to unseat ruling centrists in vote

  25-10-2015 16:35 via news.yahoo.com
  
  By Gabriela Baczynska and Pawel Florkiewicz WARSAW (Reuters) - Poles voted on Sunday in an election likely to usher the euro-sceptic conservative opposition into power, ending nearly a decade of stability in central-eastern Europe's biggest economy and setting Poland at odds with some of its European allies. If opinion polls are correct, the ruling Civic Platform (PO), a pro-market, center-right grouping in power for eight years, will lose to the conservative Law and Justice opposition party (Pi
  
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• UPDATE 3-Poland's Eurosceptic conservatives set to unseat ruling centrists in vote

  25-10-2015 16:32
  * Early data suggest turnout higher than usual (Adds detail)
  
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• UPDATE 2-Argentina's Scioli seeks first-round presidential vote win

  25-10-2015 16:23
  (Recasts, adds voting color, new voter comments and Scioli quote comments) By Sarah Marsh and Juliana Castilla BUENOS AIRES, Oct 25 (Reuters) - Argentines voted for a new president on Sunday in an...
  
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• Kuwait's Zain extends earnings slump as Q3 profit falls 18 pct

  25-10-2015 15:00 via news.yahoo.com
  
  * Q3 profit 38 mln dinars vs 46 mln dinars a yr ago * Q3 revenue 292 mln dinars vs 294 mln dinars a yr ago (Adds details) By Matt Smith DUBAI, Oct 25 (Reuters) - Zain, Kuwait's No.1 telecom operator by subscribers, reported an 18 percent fall in third-quarter profit on Sunday, extending a sustained earnings slump as increased taxes in Iraq and foreign exchange losses weighed on the bottom line. The former monopoly, which operates in eight countries in the Middle East and Africa, made a net profi
  
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• Poland voting, conservative euro-sceptic party looks set to win

  25-10-2015 14:55 via news.yahoo.com
  
  By Gabriela Baczynska and Pawel Florkiewicz WARSAW (Reuters) - Poles began voting on Sunday in an election that could end nearly a decade of economic and political stability in the country, by bringing to power a conservative, euro-sceptic party whose policies diverge from those of many of Poland's European allies. If opinion polls are correct, the ruling Civic Platform (PO), a pro-market, center-right grouping in power for the past eight years, will lose to the conservative Law and Justice oppo
  
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• UPDATE 2-Poland voting, conservative euro-sceptic party looks set to win

  25-10-2015 14:51
  * Early data suggest turnout higher than usual (Adds fresh quotes, partial turnout figures, detail)
  
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• Support for Merkel's conservatives at 3 year low on refugee crisis

  25-10-2015 14:01
  BERLIN, Oct 25 (Reuters) - Support for German Chancellor Angela Merkel's conservatives has dropped to its lowest level in more than three years, a poll showed on Sunday, as her allies in the state of...
  
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• Ivory Coast votes in post-war presidential poll, amid calls for boycott

  25-10-2015 14:00 via news.yahoo.com
  
  By Ange Aboa and Loucoumane Coulibaly ABIDJAN (Reuters) - Voting began in Ivory Coast on Sunday in an election likely to give President Alassane Ouattara a second term, a crucial event after a decade-long political crisis that ended with a civil war in 2011. Ouattara, whose leadership has helped the West African nation re-emerge as a rising economic star on the continent, faces a divided opposition, although a partial boycott and voter apathy could result in low turnout. More than 6 million Ivor
  
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• Argentina's Scioli seeks first-round presidential vote win

  25-10-2015 13:46 via news.yahoo.com
  
  By Sarah Marsh and Richard Lough SAN JUSTO, Argentina (Reuters) - Argentines began voting for a new president on Sunday with outgoing leader Cristina Fernandez's candidate the favorite to win despite deep divisions over her brand of leftist populism, which has driven up inflation and shackled the economy. Opinion polls show Daniel Scioli of the leftist Front for Victory ruling party with a clear lead over his rivals, although he cannot be sure of an outright win and may be forced into a runoff v
  
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• UPDATE 1-VW may offer discounts to owners of cars with illicit software -DPA says

  25-10-2015 13:44
  * Another engineer suspended in wake of scandal - sources (Adds VW cost-cutting, suspended engineer)
  
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• UPDATE 1-Argentina's Scioli seeks first-round presidential vote win

  25-10-2015 13:39
  (Adds polling stations open, voter comments in paragraphs 1, 6, 16) By Sarah Marsh and Richard Lough SAN JUSTO, Argentina, Oct 25 (Reuters) - Argentines began voting for a new president on Sunday...
  
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• REFILE-Swiss low rates could last decades, financial regulator tells newspaper

  25-10-2015 13:27
  ZURICH, Oct 25 (Reuters) - Switzerland's low interest rate environment could last years or possibly decades, the country's financial regulatory chief told a Swiss newspaper on Sunday.
  
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• VW may offer discounts to owners turning in cars with illicit software, DPA says

  25-10-2015 12:19
  FRANKFURT, Oct 25 (Reuters) - Volkswagen may offer VW owners in Germany discounts on new cars if they turn in certain old models affected by the emissions scandal that has rocked Europe's biggest...
  
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• MIDEAST DEBT-Cheap oil weans Gulf state firms off public purse, pushes them to market

  25-10-2015 12:19
  DUBAI, Oct 25 (Reuters) - The Gulf's state-linked firms are being forced to wean themselves off direct government funding, and focus more on capital markets and private investment, to push ahead with...
  
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• Oman's first sovereign sukuk issue attracts strong orders

  25-10-2015 11:23
  MUSCAT, Oct 25 (Reuters) - Oman's first issue of sovereign Islamic bonds has received strong orders ahead of its final pricing on Tuesday, state news agency ONA quoted an official as saying on...
  
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• Saudi carrier flynas in talks to purchase four new aircraft - CEO

  25-10-2015 11:01
  DUBAI, Oct 25 (Reuters) - Saudi Arabian budget carrier flynas, which made its first profit this year, is in talks with plane manufacturers Airbus and Boeing as it seeks to purchase four new aircraft...
  
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• China premier says 7 percent growth goal never set in stone

  25-10-2015 10:57 via news.yahoo.com
  
  China has never said the economy must grow seven percent this year, Premier Li Keqiang said in comments reported by the government ahead of a key meeting this week that will set economic and social targets for the next five years. Li's comments coincide with remarks by a top central bank official, who said on Saturday that China would be able to keep annual economic growth at around 6-7 percent over that period. China cut interest rates for the sixth time in less than a year on Friday.
  
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• UPDATE 2-China premier says 7 pct growth goal never set in stone

  25-10-2015 10:49
  * China should not "defend to the death any goal" - Premier Li
  
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• Ivory Coast votes in first post-war presidential poll

  25-10-2015 09:51 via news.yahoo.com
  
  By Ange Aboa and Loucoumane Coulibaly ABIDJAN (Reuters) - Ivory Coast's President Alassane Ouattara was heavily favored to win a second term in a vote on Sunday seen as crucial to turning the page on a decade-long political crisis that ended in a brief civil war in 2011. Ouattara, whose leadership has helped the West African nation re-emerge as a rising economic star on the continent, is facing a divided opposition - but a partial boycott and voter apathy could result in low turnout.
  
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• REFILE-RPT-UPDATE 1-Poland votes, conservative euro-sceptic party looks set to win

  25-10-2015 09:36
  WARSAW, Oct 25 (Reuters) - Poles vote in an election on Sunday that could end nearly a decade of economic and political stability in the country by bringing to power a conservative, euro-sceptic...
  
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• UPDATE 1-Texas deluged by rain in Patricia's wake, flash floods hit Houston

  25-10-2015 08:59
  HOUSTON, Oct 25 (Reuters) - Heavy rains fueled by the meeting of two storm systems, one the remnants of Hurricane Patricia, pounded southeastern Texas, triggering flash floods and derailing a freight...
  
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• Poland votes, conservative euro-sceptic party looks set to win

  25-10-2015 08:32 via news.yahoo.com
  
  By Justyna Pawlak and Gabriela Baczynska WARSAW (Reuters) - Poles vote in an election on Sunday that could end nearly a decade of economic and political stability in the country by bringing to power a conservative, euro-sceptic party whose policies diverge from those of many of Poland's European allies. If opinion polls are correct, the ruling Civic Platform (PO), a pro-market, center-right grouping in power for the past eight years, will lose to the conservative Law and Justice opposition party
  
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• China's Yantai Xinchao to buy U.S. oilfields for $1.3 bln

  25-10-2015 08:29
  BEIJING, Oct 25 (Reuters) - China's Yantai Xinchao Industry Co Ltd has agreed to spend about 8.3 billion yuan ($1.31 billion) to buy oilfields in the U.S. state of Texas, the company said in a...
  
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• Farmers lose debt gamble in typhoon-plagued Philippines

  25-10-2015 08:28 via news.yahoo.com
  
  Philippine rice farmer Francisco Santo Domingo's life is in ruins after losing yet another gamble with nature, but the typhoon that destroyed his crops means gleeful loan sharks have again hit the jackpot. Like thousands of other farmers, Santo Domingo will be forced to go back to the "shadow" bankers who dominate the nation's agricultural economy and take on even more debt at exorbitant interest rates. "My life is an endless cycle of borrowing money to plug more money that I owe," a disconsolat
  
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• UPDATE 1-Poland votes, conservative euro-sceptic party looks set to win

  25-10-2015 08:25
  * Fringe parties may hold key to new government (Updates with polling stations open, adds quotes)
  
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• Afghan carrier Safi Airways plans to expand in next 3 years - CCO

  25-10-2015 08:24
  DUBAI, Oct 25 (Reuters) - Afghan carrier Safi Airways plans to aggressively expand in the coming three years and will approach Airbus and Boeing about aircraft purchases, its chief commercial officer...
  
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• Argentine ruling party candidate seeks first-round election victory

  25-10-2015 08:04 via news.yahoo.com
  
  By Hugh Bronstein and Richard Lough BUENOS AIRES (Reuters) - Argentines vote for a new president on Sunday with outgoing leader Cristina Fernandez's candidate the favorite to win despite deep divisions over her brand of leftist populism, which has driven up inflation and shackled the economy. Polls show Daniel Scioli of the leftist Front for Victory ruling party with a clear lead over his rivals, although he cannot be sure of an outright win and may be forced into a runoff vote next month. Ferna
  
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• China growth rate may fall below 7 percent: Li

  25-10-2015 08:02 via news.yahoo.com
  
  China's economy does not need to grow seven percent this year, Chinese Premier Li Keqiang said late on Saturday, after data last week showed the economy grew at the slowest pace since the financial crisis. In March, Li forecast 2015 economic growth would be about 7.0 percent, as the country shifts to a "new normal" driven by domestic consumption instead of exports and government investment. "First, 6.9 percent is about 7 percent, which is in a reasonable range," Li said, according to a report of
  
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• Texas deluged by rain in Patricia's wake, Houston braces for floods

  25-10-2015 07:11
  HOUSTON, Oct 25 (Reuters) - Heavy rains fueled by the meeting of two strong storm systems, one the remnants of Hurricane Patricia, pounded southeastern Texas triggering flash floods and derailing a...
  
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• Ruling party seen fending off challenger as Tanzanians vote

  25-10-2015 05:20 via news.yahoo.com
  
  By Drazen Jorgic and Fumbuka Ng'wanakilala DAR ES SALAAM (Reuters) - Tanzanians voted on Sunday in presidential and parliamentary polls in which the ruling party is expected to fend off rivals led by former prime minister Edward Lowassa, who has tapped into mounting anger over corruption and the slow pace of change. In power for more than half a century, the ruling CCM party has faced growing pressure to speed up development of Tanzania's significant natural gas resources to spur economic growth
  
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• MIDEAST STOCKS - Factors to watch - Oct 25

  25-10-2015 05:05
  DUBAI, Oct 25 (Reuters) - Here are some factors that may affect Middle East stock markets on Sunday. Reuters has not verified the press reports and does not vouch for their accuracy.
  
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• China communist party paper says country should join U.S.-led trade pact

  25-10-2015 04:08 via news.yahoo.com
  
  China should join at an appropriate time the U.S.-backed regional trade accord the Trans-Pacific Partnership (TPP) as its broad aims are in line with China's own economic reform agenda, an influential Communist Party newspaper said on Sunday. China is not among the 12 Pacific Rim countries who earlier this month agreed the trade pact, the most ambitious in a generation. China's trade minister has said the country does not feel targeted by it, but will evaluate the likely impact comprehensively.
  
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• Nasdaq may see record with Apple earnings

  25-10-2015 03:16 via news.yahoo.com
  
  The Nasdaq 100 index, dominated by U.S. technology stocks, may set a record high next week, helped by good earnings from Apple Inc expected on Tuesday. Technology shares led the U.S. stock market's recovery this week from its worst correction in four years in August, thanks to gains in Alphabet, Amazon and Microsoft, after the three companies reported better-than-expected earnings results. The Dow Jones industrial average rose 0.9 percent to 17,646.70, the S&P 500 index recovered another 1.1
  
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• UPDATE 4-Houston braces for floods as Texas deluged by rain in Patricia's wake

  25-10-2015 02:35
  HOUSTON, Oct 24 (Reuters) - Heavy rains fueled by the meeting of two strong storm systems, one the remnants of Hurricane Patricia, pounded southeastern Texas on Saturday, triggering flash floods and...
  
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• India looks to Africa for new trade at major meet

  25-10-2015 02:25 via news.yahoo.com
  
  India on Sunday hailed Africa as a frontier of new opportunities ahead of a major gathering of the continent's leaders in New Delhi to boost trade and investment. Foreign Minister Sushma Swaraj said India was committed to Africa's economic rise, as it ramps up the race for resources on the energy and mineral-rich continent where rival China already has a major head start. "Today, with substantial trade and investments, Africa is a frontier of new opportunities," Swaraj told African dignitaries i
  
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• USAA says switches to Visa from MasterCard

  25-10-2015 01:45
  Oct 24 (Reuters) - USAA, one of the largest U.S. issuers of debit and credit cards, is switching to Visa Inc from its longtime partner, MasterCard Inc, the company said on its website.
  
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• UPDATE 6-Hurricane Patricia spares Mexican cities, roars through remote villages

  25-10-2015 01:01
  * Little known about area where storm hit (Updates with fresh quotes, details on damage)
  
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• The most influential women in financial services in 2015

  25-10-2015 01:00
  
  This year's list shows increasing number of women involved in conduct and standards
  
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