Finance news

• Venezuela Socialists at risk in high-stakes legislative vote

  06-12-2015 23:45 via news.yahoo.com
  
  By Brian Ellsworth and Andrew Cawthorne CARACAS (Reuters) - Venezuelans voted for a new legislature on Sunday in an election that may punish the ruling Socialists for a brutal economic crisis and give the opposition a long-sought platform to challenge President Nicolas Maduro. Chronic product shortages and the world's highest inflation could hand "Chavismo" a first loss in the National Assembly since the movement's charismatic late founder, Hugo Chavez, took office in 1999, polls show. It would
  
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• Wave of young Afghan migrants seen hurting economy they leave behind

  06-12-2015 23:13 via news.yahoo.com
  
  By Robert Birsel and Mirwais Harooni KABUL (Reuters) - Afghan software entrepreneur Farshid Ghyasi, chief executive of the Netlinks company, is struggling to keep his best employees, as more plan to join a wave of migrants leaving for Europe that risks causing long-term damage to the country and its economy. "It's a huge loss," said Ahmed Siar Khoreishi, an economist and chief executive of Ghazanfar Bank. This is really scary, we have very limited qualified, specialist people." There are no accu
  
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• Renault and France at loggerheads as board clash looms

  06-12-2015 19:34 via news.yahoo.com
  
  Renault is drawing up proposals to relinquish some power over alliance partner Nissan, sources said, and will on Monday begin shoring up boardroom support in the final days before a likely clash with the French government. Renault remains on collision course with France, its biggest shareholder, in a dispute that erupted in April when Economy Minister Emmanuel Macron raised the government's stake in the carmaker to secure double voting rights. With board-level negotiations making little headway,
  
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• Venezuela's Socialists at risk in tense legislative vote

  06-12-2015 15:37 via news.yahoo.com
  
  By Brian Ellsworth and Andrew Cawthorne CARACAS (Reuters) - Venezuelans voted for a new legislature on Sunday in an election that may punish the ruling Socialists for a brutal economic crisis and give the opposition a long-sought platform to challenge President Nicolas Maduro. Chronic product shortages and the world's highest inflation could hand "Chavismo" a first loss in the National Assembly since the movement's charismatic late founder, Hugo Chavez, took office in 1999, polls show. "Our time
  
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• Puerto Rico risks creditor ire by hijacking money earmarked for bond payments

  06-12-2015 14:00
  
  SAN JUAN/NEW YORK, Dec 6 (Reuters) - Puerto Rico may have
  dodged a bullet when it avoided default last week, but its
  decision to commandeer revenue that was supposed to meet future
  debt payments will...
  
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• MIDEAST STOCKS-Oil drop weighs on Saudi; dollar gains end Egypt rally

  06-12-2015 12:10 via news.yahoo.com
  
  Saudi Arabia's stock market slid on Sunday after oil prices dropped to within a few cents of a new six-year low and Egypt's bourse also declined after the dollar made gains. "The Saudi market has been trading sideways for sometime as investors await more clarity on macroeconomic policy," said Mohammad al-Shammasi, chief investment officer at Riyadh-based Derayah Financial. Saudi Arabian Fertilizer Company (SAFCO), rose 2.7 percent after the company said in a statement it will pay a dividend of 3
  
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• Uneasy calm in markets about upcoming U.S. rate increase, BIS says

  06-12-2015 12:06 via news.yahoo.com
  
  By Marc Jones LONDON (Reuters) - An "uneasy calm" prevails in financial markets about the first increase in U.S. interest rates in almost a decade, which is widely expected later this month, the Bank for International Settlements said in its latest report. The restrained reaction, especially from emerging markets, to the Federal Reserve's signals has been encouraging, the quarterly update from the Switzerland-based forum for major central banks said, though it expected volatility to return. "Cal
  
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• Climate funding piles up, but nations argue over how quickly

  06-12-2015 10:34 via news.yahoo.com
  
  By Barbara Lewis PARIS (Reuters) - Developed nations have mobilized some $80-$90 billion per year to help the poorest survive a warmer world, delegates at Paris climate talks said, but emerging countries dispute the figures and say a goal of $100 billion by 2020 is far from reach. The issue is central to U.N. talks in Paris, where nearly 200 nations are trying to forge a new pact on climate change. In October, the Organisation for Economic Co-operation and Development (OECD), which represents ri
  
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• Shortage of trust threatens Greece's comeback

  06-12-2015 10:15 via news.yahoo.com
  
  By Paul Taylor ATHENS (Reuters) - After a tumultuous year of two elections, a referendum, a default, a bank shutdown, capital controls and a tidal wave of migrants, it's amazing that Greece is still standing, like the Parthenon towering over Athens. After a near-death experience in mid-year, when Prime Minister Alexis Tsipras' radical leftist government rejected a bailout deal with creditors, defaulted on an IMF loan, called a referendum to defy them and had to shut banks for three weeks and rat
  
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• Japan's Amari expects revised third-quarter GDP growth around zero

  06-12-2015 08:47 via news.yahoo.com
  
  Economy Minister Akira Amari said on Sunday he expects Japan's revised gross domestic data to show zero growth in the July-September quarter, on annualized basis, which would be an improvement on the contraction shown by the preliminary data. "I think revised (GDP) data will probably be zero and the economy will grow positive thereafter," Amari told a talk show on public broadcaster NHK. "Japan is on a steady recovering trend." A Reuters poll analysts expect Japan's third-quarter economic growth
  
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• Venezuelans vote for Congress with Socialist Party majority at risk

  06-12-2015 07:07 via news.yahoo.com
  
  By Brian Ellsworth CARACAS (Reuters) - Venezuelans elect a new legislature on Sunday in a vote that may punish the ruling Socialist Party for a prolonged economic crisis and could strengthen the opposition's efforts to challenge the broadly unpopular President Nicolas Maduro. Polls show frustration over chronic product shortages and runaway inflation, signaling that voters could hand Venezuela's socialists their first loss in parliament since their movement's founder, late president Hugo Chavez,
  
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• Japan's Amari expects revised third-quarter GDP growth around zero, recovery to come

  06-12-2015 05:31 via news.yahoo.com
  
  Economy Minister Akira Amari said on Sunday he expects Japan's revised gross domestic data to show zero growth in the July-September quarter, on annualized basis, which would be an improvement on the contraction shown by the preliminary data. "I think revised (GDP) data will probably be zero and the economy will grow positive thereafter," Amari told a talk show on public broadcaster NHK. "Japan is on a steady recovering trend." A Reuters poll analysts expect Japan's third-quarter economic growth
  
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• Greece passes 'tough' austerity-extending 2016 budget

  06-12-2015 03:05 via news.yahoo.com
  
  Greek lawmakers approved a "tough" 2016 budget early Sunday, forecasting near zero growth for 2015 and a small contraction next year for the debt-ridden country in its sixth year of austerity. The coalition government, which enjoys a narrow majority, managed to push the budget through with 153 votes for and 145 against after a late-night session. The leftist government of Alexis Tsipras is trying to apply the terms of an unpopular third EU economic bailout, enacted in July in return for safeguar
  
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• Greek Parliament passes 2016 budget

  06-12-2015 01:21 via news.yahoo.com
  
  ATHENS, Greece (AP) — Greece's Parliament has approved the 2016 budget that includes deep spending cuts and tax hikes amid economic recession.
  
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