Finance news

• U.N. agency gives green light to lifting of Iran sanctions

  16-01-2016 23:17 via news.yahoo.com
  
  By Lesley Wroughton and Sam Wilkin VIENNA/DUBAI (Reuters) - Iran emerged from years of economic isolation on Saturday when the U.N. nuclear watchdog ruled the Islamic Republic had curbed its nuclear programme under a deal with world powers, clearing the way for the lifting of crippling sanctions against Tehran. In another sign of the easing of tensions between the West and Iran, Tehran and Washington announced an unexpected prisoner swap. Iran will free five Americans including jailed Washington
  
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• U.S. senator calls for sanctions on Iran for ballistic missile test

  16-01-2016 23:08 via news.yahoo.com
  
  WASHINGTON (Reuters) - The United States should promptly slap sanctions on Iran for ballistic missile tests that violated U.N. Security Council resolutions, Democratic Senator Richard Blumenthal urged on Saturday. "‎Without delay, the United States should enforce sanctions on Iran for its ballistic missile program," the Connecticut senator said. He made the statement shortly after other economic sanctions on Iran were formally lifted following certification that Iran was abiding by a nuclear
  
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• EU to lift economic sanctions on Iran over its nuclear program

  16-01-2016 23:05 via news.yahoo.com
  
  By Gabriela Baczynska and Barbara Lewis BRUSSELS (Reuters) - The European Union on Saturday began the process of lifting economic and financial sanctions on Iran, implementing a landmark 2015 deal between world powers and Tehran, and paving the way for EU business to return to the country of 80 million. EU diplomats said the formal lifting of sanctions should be rapid following automatically from an International Atomic Energy Agency report saying Tehran had scaled down its nuclear program as ag
  
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• Exclusive: Obama pardons Iranians charged with sanctions violations

  16-01-2016 21:39 via news.yahoo.com
  
  By Yeganeh Torbati and Joel Schectman WASHINGTON (Reuters) - President Barack Obama pardoned three Iranians charged with sanctions violations as U.S. authorities moved to drop charges or commute prison sentences for five other men, according to lawyers, court records and people familiar with the matter. The prisoner deal with Iran came as major powers prepared to implement a nuclear agreement that would lift economic sanctions against Tehran in exchange for steps to curb its nuclear program. Rep
  
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• Iran transport minister: Agreement to buy 114 Airbus planes

  16-01-2016 20:43 via news.yahoo.com
  
  TEHRAN, Iran (AP) — Iran has reached a deal with the European consortium Airbus to buy 114 passenger planes once international economic sanctions are lifted as part of a nuclear deal, Iran's transport minister said Saturday.
  
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• Support for Ireland's ruling coalition falls as election looms

  16-01-2016 20:01 via news.yahoo.com
  
  Support for Ireland's ruling coalition fell in two opinion polls published on Saturday, widening the margin the member parties need to make up if they are to return to government after elections expected next month. While Prime Minister Enda Kenny's Fine Gael held steady at 31 percent in a poll in the Sunday Times newspaper, the center-right party fell two points to 30 percent in the Sunday Business Post/Red C poll, its first drop in the series since July. Its junior partner Labour was unchanged
  
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• U.S. Republicans relieved over Iran prisoner release, attack Obama on nuclear pact

  16-01-2016 19:05 via news.yahoo.com
  
  U.S. Republicans on Saturday expressed relief with Tehran's release of five Americans but renewed their attacks against President Barack Obama for entering an international nuclear deal that is expected to result in lifting economic sanctions against Iran. Earlier on Saturday, it was announced that Iran freed Washington Post journalist Jason Rezaian, Christian pastor Saeed Abedini and ex-U.S. Marine Amir Hekmati. A fourth prisoner, Nosratollah Khosravi-Roodsari, also was being released.
  
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• Modi pledges big measures to boost India's entrepreneurs

  16-01-2016 17:38 via news.yahoo.com
  
  Indian entrepreneurs will receive generous tax breaks and face dramatically reduced red tape when starting and closing a business, Prime Minister Narendra Modi said Saturday, as he launched a pet initiative to bolster India's fast-growing startup scene. Speaking at a gathering of 2,000 entrepreneurs from India, Silicon Valley and elsewhere, Modi outlined a slew of measures under Start Up India including exempting startups from income tax for their first three years. "We have a million problems b
  
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• Qatar provides 1,000 new homes for Gazans displaced by war

  16-01-2016 17:03 via news.yahoo.com
  
  By Nidal al-Mughrabi GAZA (Reuters) - Qatari-funded construction projects have provided 1,000 new dwellings for Palestinians left homeless by the 2014 Gaza war with Israel, and a similar number for low-income families in the territory, officials said on Saturday. The Gulf state's contribution is the sole significant sign of rebuilding in the Gaza Strip, where some 100,000 people remain displaced 18 months after the fighting, with economic growth stifled by Israeli and Egyptian blockades. The Qat
  
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• Iran frees American prisoners as international sanctions to end

  16-01-2016 16:18 via news.yahoo.com
  
  By Lesley Wroughton and Sam Wilkin VIENNA/DUBAI (Reuters) - - Iran freed four Americans including a Washington Post reporter on Saturday in a prisoner swap, as diplomats gathered to announce the lifting of international sanctions and bring the country of 80 million people back to the global economic stage. The International Atomic Energy Agency was expected to announce in Vienna that Tehran had complied with the requirements of a deal reached last year, under which it was to curb its nuclear pro
  
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• UPDATE 2-Poland sees zloty turbulence at start of week after S&P downgrade

  16-01-2016 14:06
  
  WARSAW, Jan 16 (Reuters) - Poland shrugged off the impact of a downgrade by Standard & Poor's (S&P) on Saturday, saying the rating agency's decision was a mistake, but its ministers admitted they...
  
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• Flipkart says Indian markets not yet ready for large Internet listing

  16-01-2016 13:51 via news.yahoo.com
  
  The co-founder of Flipkart, India's biggest e-commerce company, said on Saturday that the country's stock markets were not yet ready for a large Internet listing. Sachin Bansal's comments at a startup conference in New Delhi came days after a rejig in the top management that was viewed by some as a step toward a stock market listing. "Indian markets are not yet ready for a large Internet company listing but we would absolutely love to list here when the time comes," he said.
  
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• India's Flipkart says Indian markets not yet ready for large Internet listing

  16-01-2016 13:29 via news.yahoo.com
  
  The co-founder of Flipkart, India's biggest e-commerce company, said on Saturday that the country's stock markets were not yet ready for a large Internet listing. Sachin Bansal's comments at a startup conference in New Delhi came days after a rejig in the top management that was viewed by some as a step toward a stock market listing. "Indian markets are not yet ready for a large Internet company listing but we would absolutely love to list here when the time comes," he said.
  
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• Britain's Corbyn warns big business over low pay, wage gap

  16-01-2016 13:20
  
  LONDON, Jan 16 (Reuters) - British opposition leader Jeremy Corbyn said on Saturday he would stop big companies from distributing dividends unless they paid their workers the living wage as part of...
  
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• Poland expects zloty fluctuations at start of week

  16-01-2016 13:07
  
  WARSAW, Jan 16 (Reuters) - Poland's finance minister said on Saturday he would expect some fluctuations in the zloty on Monday and Tuesday after a ratings downgrade by Standard and Poor's (S&P), but...
  
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• China launches new AIIB development bank as power balance shifts

  16-01-2016 12:41 via news.yahoo.com
  
  By Sue-Lin Wong BEIJING (Reuters) - Chinese President Xi Jinping launched a new international development bank seen as a rival to the U.S.-led World Bank at a lavish ceremony on Saturday, as Beijing seeks to change the unwritten rules of global development finance. Despite opposition from Washington, U.S. allies including Australia, Britain, German, Italy, the Philippines and South Korea have agreed to join the Asian Infrastructure Investment Bank (AIIB) in recognition of China's growing economi
  
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• AIIB will boost investment in region: Xi

  16-01-2016 12:17 via news.yahoo.com
  
  The new Asian Infrastructure Investment Bank will boost investment in the region while contributing to "fairer" global economic governance, Chinese President Xi Jinping said Saturday at the formal opening ceremony in Beijing. The China-backed AIIB -- which has 57 members including major economies such as Australia and South Korea but notably excluding the US and Japan -- is viewed by some as a rival to the World Bank and Asian Development Bank (ADB). "The funding and inauguration of the AIIB wil
  
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• Economic 'tsunami' undermines war against Islamic State in Iraq - Kurdish deputy PM

  16-01-2016 11:30 via news.yahoo.com
  
  By Isabel Coles ERBIL, Iraq (Reuters) - Iraq's Kurdistan region is in danger of being drowned by an economic "tsunami" as global oil prices plunge, its deputy prime minister said, warning it could undermine the war effort against Islamic State. Four months in arrears and deeply in debt, the Kurdistan Regional Government (KRG), which depends on oil revenue to survive, has been hit hard by oil's slump below $30 per barrel this week from over $100 a barrel two years ago. "The world is focused on th
  
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• China's economy grew by around 7 percent in 2015, services made up half of GDP - Premier

  16-01-2016 10:35 via news.yahoo.com
  
  China's gross domestic product (GDP) totaled more than $10 trillion in 2015 and the economy grew by around 7 percent, with the services sector accounting for half of GDP, Premier Li Keqiang said on Saturday. Consumption contributed nearly 60 percent of growth, Li said, at the opening ceremony for the China-backed Asian Infrastructure Investment Bank (AIIB) in Beijing. China's fourth-quarter and full-year 2015 GDP figures are expected to be released on Jan. 19.
  
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• Polish economy minister says not worried about zloty after S&P downgrade

  16-01-2016 09:50
  
  WARSAW, Jan 16 (Reuters) - Poland's economy minister Mateusz Morawiecki said Standard & Poor's (S&P) rating downgrade was not a disturbing signal and that he was not worried about the zloty, which,...
  
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• China securities regulator pledges to strengthen oversight amid 'abnormal' volatility

  16-01-2016 09:19 via news.yahoo.com
  
  China's stock market is immature and the government will take more measures to improve supervision following the latest bout of extraordinary volatility, the head of China Securities Regulatory Commission (CSRC) said on Saturday. "The abnormal stock market volatility has revealed an immature market, inexperienced investors, an imperfect trading system and inappropriate supervision mechanisms," Xiao Gang said in an annual meeting.
  
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• Chinese president launches new AIIB development bank as power balance shifts

  16-01-2016 08:43 via news.yahoo.com
  
  By Sue-Lin Wong BEIJING (Reuters) - Chinese President Xi Jinping launched a new international development bank seen as a rival to the U.S.-led World Bank at a lavish ceremony on Saturday, as Beijing seeks to change the unwritten rules of global development finance. Despite opposition from Washington, U.S. allies including Australia, Britain, German, Italy, the Philippines and South Korea have agreed to join the Asian Infrastructure Investment Bank (AIIB) in recognition of China's growing economi
  
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• Fundamentals could resurface after wrenching sell-off

  16-01-2016 07:29 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - The dramatic sell-off on Wall Street through most of the past two weeks could signal a capitulation-type blowout, giving fundamentals the upper hand for the next week. The current slide in stock prices, which on Friday briefly dragged the S&P 500 to levels not seen in more than a year, is reminiscent in breadth and tone of drop-downs seen during the Great Recession. In addition, the market has not seen the kind of sell-off in high volume that signals a
  
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• Standard & Poor's hikes Iceland's credit rating to 'BBB+'

  16-01-2016 06:45 via news.yahoo.com
  
  Standard & Poor's announced it had bumped up Iceland's credit rating by one notch to BBB+, citing progress over the easing of capital controls imposed during the 2008 banking crisis. "The upgrade primarily reflects the further progress Iceland has achieved in resolving the issues standing in the way of capital account liberalisation since June 2015," the ratings agency said in a statement. The 2008 economic crisis caused the sudden collapse of the island nation's financial sector, forcing th
  
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• Exclusive - Clinton plans ad blitz as primaries kick off - campaign document

  16-01-2016 06:15 via news.yahoo.com
  
  The Clinton campaign declined to comment on the spending report. The report comes two weeks before the Iowa contest, with Clinton locked in a tightening race with Sanders, the fiery U.S. senator from Vermont who has been drawing big crowds in the early-voting states with his calls to crack down on Wall Street.     The emphasis on fiscal prudence is part of a broader effort by the Clinton campaign to reassure supporters that it has learned from her 2008 campaign, which was pla
  
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• Wall St Week Ahead: Fundamentals could resurface after wrenching sell-off

  16-01-2016 04:33 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - The dramatic sell-off on Wall Street through most of the past two weeks could signal a capitulation-type blowout, giving fundamentals the upper hand for the next week. The current slide in stock prices, which on Friday briefly dragged the S&P 500 to levels not seen in more than a year, is reminiscent in breadth and tone of drop-downs seen during the Great Recession. In addition, the market has not seen the kind of sell-off in high volume that signals a
  
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• Oil plummets to $29 per barrel, dragging world stocks lower

  16-01-2016 03:56 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - Oil prices plummeted to $29 a barrel on Friday on the impending resumption of Iranian oil exports into an already flooded market as international sanctions against the country are lifted, dragging equity indexes around the world sharply lower. Skittish investors snapped up gold and other safe-haven assets amid fears of a global economic slowdown, coupled with concerns about a potential credit default as lower commodity prices make payments by creditors in eme
  
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• UPDATE 3-Venezuela decrees 'economic emergency,' reveals depth of crisis

  16-01-2016 02:56
  
  CARACAS, Jan 15 (Reuters) - Venezuela's socialist government decreed an "economic emergency" on Friday that will expand its powers and published the first data in a year that shows the depth of a...
  
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• Venezuela's Maduro admits economic 'catastrophe'

  16-01-2016 02:38 via news.yahoo.com
  
  Venezuelan President Nicolas Maduro admitted before a hostile legislature that the oil-rich nation is mired in a "catastrophic" economic crisis, hours after decreeing a two-month state of emergency. Maduro's first state of the nation address before the newly opposition-held National Assembly, which is locked in a bitter power struggle with his administration, came as Venezuela's central bank released its first economic growth and inflation statistics in more than a year. "These catastrophic figu
  
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• Obama congratulates Mexican president on arrest of drug boss Guzman: White House

  16-01-2016 02:38 via news.yahoo.com
  
  WASHINGTON (Reuters) - U.S. President Barack Obama spoke by phone on Friday with Mexican President Enrique Pena Nieto and congratulated him on the arrest last week of drug kingpin Joaquin "El Chapo" Guzman, the White House said. The two leaders also discussed broader security and economic issues and they agreed on the importance of taking steps to advance the approval of the Trans-Pacific Partnership trade pact, the White House said in a statement. (Reporting by Eric Beech; Editing by Sandr
  
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• Stock market slides again; worst two-week start to a year

  16-01-2016 02:37 via news.yahoo.com
  
  Never before has Wall Street gotten off to a worse start to a year.
  
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• UPDATE 1-Atlantic City, N.J., emergency manager suggests privatizing fire department

  16-01-2016 02:12
  
  Jan 15 (Reuters) - Atlantic City, the distressed New Jersey gambling hub, should consider privatizing its fire-fighting services and convention center and find ways to make more money off its...
  
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• Bond King musical chairs: Gundlach replaces Gross at Barron's Roundtable this month

  16-01-2016 02:08
  
  NEW YORK, Jan 15 (Reuters) - In recent years, bond investor Jeffrey Gundlach has been outperforming his rival Bill Gross. He has even been dubbed the "Bond King" by the media - a title Gross has held...
  
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• Mexico's Pena Nieto to tour Gulf states, eye on oil

  16-01-2016 01:11 via news.yahoo.com
  
  Mexican President Enrique Pena Nieto will depart Sunday for state visits to Kuwait, Qatar, Saudi Arabia and the United Arab Emirates, focused on economic and energy issues, his government said. Pena Nieto, who is trying to breathe new life into Mexico's key oil sector, will seek to increase trade and investment ties with "a part of the world that is continually growing in importance," said Foreign Minister Claudia Ruiz Massieu. Mexico is keen to attract investment to its oil sector after Pena Ni
  
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• Atlantic City, N.J., emergency manager says more cuts needed

  16-01-2016 00:59
  
  Jan 15 (Reuters) - Atlantic City's state appointed emergency manager released a second report on Friday, one year after being appointed to devise a fiscal rescue plan for the gambling hub.
  
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• Canada eyes quick-hit infrastructure projects to revive economy

  16-01-2016 00:56 via news.yahoo.com
  
  By Nia Williams CALGARY, Alberta (Reuters) - At least part of the Canadian government's plans to boost infrastructure spending will focus on projects that can be undertaken quickly, Finance Minister Bill Morneau said on Friday. It was Morneau's first nod, following a full week of media appearances across the country, to the idea of getting an early jolt of stimulus from the infrastructure project spending to boost an economy slammed by the continued slide in oil prices. "We are looking to make i
  
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• UPDATE 1-Canada eyes quick-hit infrastructure projects to revive economy

  16-01-2016 00:52
  
  CALGARY, Alberta, Jan 15 (Reuters) - At least part of the Canadian government's plans to boost infrastructure spending will focus on projects that can be undertaken quickly, Finance Minister Bill...
  
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• Venezuela's Maduro faces off with hostile legislature

  16-01-2016 00:51 via news.yahoo.com
  
  Venezuelan President Nicolas Maduro made his first appearance before a hostile legislature Friday, hours after decreeing a two-month state of "economic emergency" in the crisis-hit, oil-rich nation. Maduro's first state of the nation address before the newly opposition-held National Assembly, which is locked in a bitter power struggle with his administration, came as Venezuela's central bank released its first official economic growth and inflation statistics in more than a year. The leftist pre
  
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• Fearing wave of bankruptcies, U.S. corn belt wants new debt cap

  16-01-2016 00:49
  
  CHICAGO, Jan 15 (Reuters) - With agricultural lenders fearing a tidal wave of farm bankruptcies as soon as this spring, lawyers in the Midwest say they want U.S. Senator Chuck Grassley of Iowa to...
  
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• Wall St haemorrhages as oil tumbles and China fears deepen

  16-01-2016 00:46 via news.yahoo.com
  
  Wall Street bled on Friday, with the S&P 500 sinking to its lowest since October 2014 as oil prices sank below $30 per barrel and fears grew about economic trouble in China. Pain was dealt widely, with the day's trading volume unusually high and more than a fifth of S&P 500 stocks touching 52-week lows. The major S&P sectors all ended sharply lower.
  
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• Wall St. hemorrhages as oil tumbles and China fears deepen

  16-01-2016 00:45 via news.yahoo.com
  
  Pain was dealt widely, with the day's trading volume unusually high and more than a fifth of S&P 500 stocks touching 52-week lows. The major S&P sectors all ended sharply lower. The energy sector dropped 2.87 percent as oil prices fell 6.5 percent, in part due to fears of slow economic growth in China, where major stock indexes also slumped overnight.
  
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• Inflation-stricken Argentina to issue higher denomination banknotes

  16-01-2016 00:40
  
  BUENOS AIRES, Jan 15 (Reuters) - Argentina's Central Bank said on Friday it would issue higher denomination banknotes this year and next, in the face of double-digit inflation that has gnawed away at...
  
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• UPDATE 2-S&P drops Chicago Board of Education rating deeper into junk

  16-01-2016 00:19
  
  CHICAGO, Jan 15 (Reuters) - Standard & Poor's on Friday dropped the credit rating for the financially struggling Chicago Board of Education deeper into "junk" ahead of the school district's $875...
  
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• UPDATE 2-U.S. appeals court allows Trump casino to break pact with unions

  16-01-2016 00:00
  
  Jan 15 (Reuters) - The owner of the Trump Taj Mahal casino in Atlantic City, New Jersey, may break its agreement with union workers, a U.S. appeals court ruled on Friday, potentially clearing the way...
  
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