Finance news

• Croatia conservative opposition leads in general vote count

  08-11-2015 23:45 via news.yahoo.com
  
  ZAGREB, Croatia (AP) — Croatia's conservative opposition is leading in an official preliminary vote count against the ruling center-left coalition in the Balkan country's first parliamentary election since joining the European Union in 2013 — held amid deep economic woes and a massive migrant surge.
  
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• Croatia's opposition conservatives win vote: preliminary results

  08-11-2015 23:36 via news.yahoo.com
  
  By Igor Ilic and Ivana Sekularac ZAGREB (Reuters) - Croatia's conservative opposition won the country's first election since it joined the European Union in 2013, preliminary results showed on Sunday, but its narrow victory meant lengthy coalition talks were likely to follow in the next days or weeks. The new government will have to nurture a tentative economic recovery after six years of recession and deal with thousands of migrants from the Middle East streaming through the tiny Adriatic state
  
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• Australia shares seen weighed by commodity slide, Fed rate risk

  08-11-2015 22:16 via news.yahoo.com
  
  Australian shares looked set for a weaker start on Monday, following an unimpressive closing on Wall Street and sliding commodity prices. Global miner BHP Billiton is expected to open sharply lower after ...
  
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• Woes Continue for West Coast Fishing Industry as California Suspends Crab Catch

  08-11-2015 20:20 via news.yahoo.com
  
  Commercial crab fishing season has been delayed due to a toxic algae bloom that makes the crab potentially dangerous to consume, the California Department of Fish and Wildlife announced Friday. This follows an announcement from the California Fish and Game Commission, which suspended recreational Dungeness and Rock crab fishing the day before. “Crab is an important part of California’s culture and economy, and I did not make this decision lightly,” Charlton H. Bonham, the fish
  
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• Ruling Social Democrats, conservatives tied in Croatia vote

  08-11-2015 20:05 via news.yahoo.com
  
  By Igor Ilic and Ivana Sekularac ZAGREB (Reuters) - Croatia's ruling Social Democrats and their main opposition, the conservative Patriotic Coalition, appeared to tie in an election on Sunday, one exit poll showed, suggesting lengthy coalition talks with smaller parties in the newest European Union member. The new government will have to nurture a tentative economic recovery after six years of recession and deal with thousands of migrants from the Middle East streaming through the tiny Adriatic
  
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• Germany's balanced budget not at risk due to refugees, says Weidmann

  08-11-2015 18:13 via news.yahoo.com
  
  Germany can handle the costs of the refugee crisis without risking its balanced budget, while the wider automotive sector appears unscathed by the emissions scandal embroiling Volkswagen , the head of the Bundesbank said on Sunday. Jens Weidmann was upbeat about the prospects for Germany's economy despite a slowdown in China and other emerging markets and the possible repercussions from the Volkswagen scandal. "Germany is in a good position.
  
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• UAE market regulator appoints acting CEO -sources

  08-11-2015 17:11 via news.yahoo.com
  
  (Adds Turifi resignation confirmation) DUBAI, Nov 8 (Reuters) - The board of the United Arab Emirates federal stock market regulator has appointed Obeid al Zaabi as acting chief executive, three sources told Reuters, suggesting he is the lead candidate to take the role permanently. Zaabi makes the move from his role as chief executive for licensing, supervision and enforcement at the organisation and replaces Abdullah Al Turifi, who stepped down in October. SCA's board is led by UAE Minister of
  
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• Croatia holds first general vote since joining EU

  08-11-2015 13:33 via news.yahoo.com
  
  ZAGREB, Croatia (AP) — Amid a massive migrant surge and deep economic woes, Croatia's ruling center-left coalition faces a strong challenge from a conservative opposition in the Balkan country's first parliamentary election since joining the European Union in 2013.
  
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• UAE stocks regulator board appoints acting chief executive -sources

  08-11-2015 12:44 via news.yahoo.com
  
  The board of the United Arab Emirates federal stock market regulator has appointed Obeid al Zaabi as acting chief executive to take over from Abdullah Al Turifi, who stepped down in October, three sources told Reuters on Sunday. Zaabi, who was deputy chief executive for licensing, supervision and enforcement at the Securities and Commodities Authority (SCA), was appointed as temporary head of the organisation on Thursday, three sources aware of the matter said, speaking on condition of anonymity
  
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• Britain's EU wish list - be careful what you wish for

  08-11-2015 10:39 via news.yahoo.com
  
  By Paul Taylor BRUSSELS (Reuters) - Sometime this week, Britain's prime minister will send a wish list to European Union partners, launching a formal negotiation that could lead to the UK's exit from the 28-nation bloc or subtly change the nature of the union if it stays. David Cameron hopes Britons will vote in a referendum to stay if he secures concessions that make the country's membership even more semi-detached than it already is. While eager to keep London in, other EU leaders have to choo
  
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• MIDEAST STOCKS-Saudi tests technical support, Egypt slides on rate outlook

  08-11-2015 09:45 via news.yahoo.com
  
  Saudi Arabia's stock market retested technical support and Egypt's market also dropped early on Sunday as the prospect of a U.S. interest rate hike loomed. The Saudi stock index dropped 1.1 percent to 6,883 points in the opening minutes, falling below its August low of 6,921 points. Money market rates have already been rising in the Gulf as liquidity shrinks because of lower oil revenues, and higher U.S. rates could intensify the simultaneous fiscal and monetary squeeze in the region.
  
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• Record China trade surplus highlights struggle to boost demand

  08-11-2015 07:15 via news.yahoo.com
  
  China recorded its highest trade surplus on record last month, official data showed Sunday, as plunging imports highlighted the country's continued struggle to boost domestic demand and prop up sagging growth. The disappointing figures show how Beijing is struggling to keep the world's second-largest economy on the rails and add to mounting evidence China could be heading for a hard landing.
  
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• Fed rate hike 'makes sense', says U.S. central banker

  08-11-2015 06:58 via news.yahoo.com
  
  Now that the United States is closing in on full employment and inflation is likely to rise to target levels, the "next step" should be to start gradually increasing rates, a top U.S. central banker said on Saturday. "I do think it makes sense to gradually remove the policy of accommodation that helped get the economy to where we are," San Francisco Federal Reserve Bank President John Williams told the Arizona Council on Economic Education. The comments suggest that Williams, a centrist policyma
  
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• Markets have lost 'muscle memory' for Fed rate rises: policymaker

  08-11-2015 06:07 via news.yahoo.com
  
  Markets have lost their "muscle memory" for anticipating moves by the Federal Reserve, but will relearn how to take cues from economic data and central bankers' forecasts once U.S. interest-rate rises get underway, a top Fed official said on Saturday. "It's not so much poor communication on our part," San Francisco Federal Reserve Bank President John Williams told reporters in Tempe, Arizona. Before the Fed's October meeting, many investors had thought it unlikely it would raise rates at all thi
  
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• Fed's Williams: raising interest rates would send positive signal

  08-11-2015 05:28 via news.yahoo.com
  
  TEMPE, Ariz (Reuters) - Raising U.S. interest rates for the first time in nine years would send a positive signal about the economy, and could even spur some potential homebuyers to take the plunge and buy a house, a top Federal Reserve official said on Saturday.
  
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• Fed rate hike 'makes sense,' says U.S. reserve bank president

  08-11-2015 05:10 via news.yahoo.com
  
  Now that the United States is closing in on full employment and inflation is likely to rise to target levels, the "next step" should be to start gradually increasing rates, a top U.S. central banker said on Saturday. "My forecast is that we’ll reach our maximum employment mandate in the near future and I’m increasingly confident that inflation will gradually move back to our 2 percent goal," San Francisco Federal Reserve Bank President John Williams said in remarks prepared for deliv
  
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• As prices of raw materials drop, China October imports fall

  08-11-2015 04:42 via news.yahoo.com
  
  BEIJING (AP) — Lower commodity prices dragged down China's October trade figures, but the volume of imported oil and other raw materials rose as the world's second largest economy was stocking up on bargains, showed customs data released on Sunday.
  
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• China imports fall in sign of battered domestic demand

  08-11-2015 04:01 via news.yahoo.com
  
  Beijing (AFP) - China's imports fell 16 percent in October from a year ago to 833.14 billion yuan ($131.2 billion), official data showed on Sunday, underlining battered domestic demand in the world's second-largest economy where downward pressures on economic growth persist.
  
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• Sanctions fears choke nascent U.S. trade with Myanmar

  08-11-2015 02:10 via news.yahoo.com
  
  By Joel Schectman, David Henry and Timothy Mclaughlin WASHINGTON/NEW YORK/YANGON (Reuters) - Western banks are cutting trade finance in Myanmar after learning that part of the country’s main port is controlled by a man blacklisted by Washington, threatening to stop nascent U.S. economic ties with the Southeast Asian nation in their tracks. U.S. shipments to Myanmar have slowed to a crawl in recent months, after several banks including Citigroup Inc, Bank of America, HSBC and PNC Financial
  
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• Third Point's Loeb trades digs for diplomacy in Japan

  08-11-2015 01:54
  
  TOKYO (Reuters) - Activist investor Daniel Loeb, famously branded a carpet-bagger by actor George Clooney, has turned from bruiser to charmer in Japan, where he has added diversified retailer Seven &...
  
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