Finance news

• Nippon Steel believes shareholder accord necessary for Usiminas plan, source says

  15-02-2016 22:17
  
  SAO PAULO, Feb 15 (Reuters) - Nippon Steel & Sumitomo Metal Corp is willing to participate in a potential capital increase for ailing Brazilian steelmaker Usinas Siderúrgicas de Minas Gerais SA if an...
  
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• 5 Awesome Etsy Home Goods Stores You Should Know

  15-02-2016 21:50 via news.yahoo.com
  
  Rugs hung as wall textiles, designed by Porto, Portugal-based RUG by GUR. Photo via RUG by GUR. With income tax return season upon us, we thought we'd take this moment to shine a light on some of our favorite...
  
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• Profit growth at Brazil's Banco Safra slows as defaults spike

  15-02-2016 21:42
  
  SAO PAULO, Feb 15 (Reuters) - Net income at Banco Safra SA , a non-listed Brazilian bank owned by billionaire financier Joseph Safra, rose 6.9 percent last year, half the increase posted in the prior...
  
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• France says attacks on hospitals in Syria are war crimes

  15-02-2016 21:29
  
  PARIS, Feb 15 (Reuters) - France's Foreign Minister said on Monday attacks on hospitals in Syria by the Syrian government and its allies were war crimes.
  
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• France sees will to reach deal at Brexit summit, work remains

  15-02-2016 21:09 via news.yahoo.com
  
  PARIS (Reuters) - France reckons there is a will to reach a deal at a summit in Brussels this week on keeping Britain in the European Union, a French presidency source said after British Prime Minister David Cameron met French President Francois Hollande on Monday. But there is still work to be done before Thursday's summit, especially on economic governance, the source said. (Reporting by Elizabeth Pineau; Writing by Alister Doyle; Editing by Alison Williams)
  
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• Iran's first post-sanctions oil exports to Europe begin

  15-02-2016 20:44 via news.yahoo.com
  
  Iran is poised to export its first oil shipments to Europe since international economic sanctions were lifted in mid-January, the oil ministry's SHANA news service reported on Monday. It said two million barrels of oil were being pumped aboard a tanker at Kharg Island in the Gulf, bound for French energy giant Total. It cited oil terminals official Pirouz Moussavi as saying on Sunday that loading of the tankers would be complete within 24 hours.
  
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• EU commissioner says firms should pay taxes where they earn profits

  15-02-2016 19:51 via news.yahoo.com
  
  The EU's top economic affairs official said Monday that companies should pay taxes where they earn profits, days after a report of another firm using aggressive strategies to lower their bill. When asked about a report that the world's top furniture company Ikea may have underpaid taxes by one billion euros using aggressive tax strategies, Pierre Moscovici said "a company should pay taxes where they generate profits". Responding to the report the European Commission said on Saturday it would exa
  
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• Legal complications to dull funds' appetite for new Russian bonds

  15-02-2016 19:06
  
  LONDON/MOSCOW Feb 15 (Reuters) - Emerging market funds starved of new sovereign debt this year should relish the prospect of Russia selling $3 billion of bonds - but their lawyers are warning them of...
  
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• UPDATE 1-EU's Tusk: talks to keep Britain in EU at critical moment

  15-02-2016 18:38
  
  BUCHAREST, Feb 15 (Reuters) - European Council leader Donald Tusk said an EU summit in Brussels on Thursday will be crucial for the future of the bloc, with talks to keep Britain in the EU at...
  
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• EU's Tusk: talks to keep Britain in EU at critical moment

  15-02-2016 18:27
  
  BUCHAREST, Feb 15 (Reuters) - European Council leader Donald Tusk said an EU summit in Brussels on Thursday will be crucial for the future of the bloc, with talks to keep Britain in the EU at...
  
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• European equities rally as China avoids meltdown

  15-02-2016 18:09 via news.yahoo.com
  
  European stock markets pushed sharply higher on Monday, building on Asian gains after Shanghai avoided a sharp selloff on its return from holidays and banks were buoyed by HSBC's decision to stay in London. London closed 2 percent higher, with Frankfurt and Paris up around 3 percent. Shanghai fell 0.6 percent -- but losses were modest considering traders were playing catch-up with last week's bloodbath across world stock markets.
  
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• UPDATE 2-ECB ready to act, keeps eye on bank stocks, oil prices - Draghi

  15-02-2016 17:50
  
  BRUSSELS/FRANKFURT, Feb 15 (Reuters) - The European Central Bank is ready to ease policy further in March, President Mario Draghi said on Monday, highlighting risks from financial market volatility,...
  
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• UPDATE 1-Euro zone inflation expectations lift off record lows on stronger yuan

  15-02-2016 17:47
  
  LONDON, Feb 15 (Reuters) - Euro zone long-term inflation expectations rebounded from record lows on Monday after China's central bank fixed the yuan rate stronger, easing some recent worries about a...
  
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• Venezuela talking to Russia about potential oil-price support: Moscow

  15-02-2016 17:43 via news.yahoo.com
  
  Venezuela is talking to some OPEC members and Russia about the possibility of joint action to prop up oil prices, a Russian Foreign Ministry official said, while another diplomat said Moscow wanted better ties between Iran and Saudi Arabia. Russia, one of the world's top oil producers, has repeatedly refused to cooperate with the Organization of the Petroleum Exporting Countries despite the falling price of oil, the lifeblood of its economy.
  
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• EU deal with Britain should not stop euro zone integration: Draghi

  15-02-2016 17:22 via news.yahoo.com
  
  A deal between Britain and the European Union on the future of Britain's membership in the bloc should not limit further integration of the euro zone, the President of the European Central Bank Mario Draghi told EU lawmakers on Monday. "The agreement, whatever it will be, should not hamper any further integration movement for our monetary union," ECB chairman Mario Draghi told the economic and monetary affairs committee of the European Parliament in Brussels. EU leaders will meet on Feb. 18-19 i
  
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• EU agrees not to extend sanctions on Belarus, leaves arms embargo

  15-02-2016 16:52 via news.yahoo.com
  
  The European Union will not extend its economic sanctions on 170 Belarusians, including those on authoritarian President Alexander Lukashenko, but will maintain its arms embargo, the bloc's foreign ministers agreed on Monday. The sanctions were already lifted for four months at the end of October in a gesture to Lukashenko, as the European Union seeks to improve ties with the man whom the United States once said runs Europe's last "dictatorship." Officials said the EU will keep sanctions for ano
  
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• BoE's McCafferty sees wage growth, inflation pushed out further in future - WSJ

  15-02-2016 16:38 via news.yahoo.com
  
  LONDON (Reuters) - Upside risks to British wage growth and inflation have grown more distant, Bank of England policymaker Ian McCafferty said in an interview published on Monday, after dropping his lone call to hike interest rates earlier this month. "The upside risks to wage costs and inflation haven't disappeared by any sense, but they have been pushed further out," McCaffery told the Wall Street Journal. He added that the Bank of England was not "out of ammunition" if it needed to fight a ren
  
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• UPDATE 1-Spanish parliament gives Socialists until March 3 to present government

  15-02-2016 16:21
  
  MADRID, Feb 15 (Reuters) - Spanish deputies set an early-March deadline on Monday for Socialist Party leader Pedro Sanchez to present a government, setting in motion a legislative process that could...
  
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• Asian carriers more cautious with orders: Boeing

  15-02-2016 16:20 via news.yahoo.com
  
  Asian airlines which were famed in the past for multi-billion-dollar orders have become more cautious in the face of thinner profits and a global economic downturn, a Boeing executive said Monday. "Nobody has come to us and asked for any deferral," said Dinesh Keskar, senior vice president for sales at Boeing Commercial Airplanes covering the Asia-Pacific and India.
  
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• Israel cabinet vote imminent on plan to increase Palestinian workers

  15-02-2016 16:15 via news.yahoo.com
  
  By Steven Scheer JERUSALEM (Reuters) - Israel's cabinet will likely vote within two weeks on a proposal to allow another 33,000 Palestinian construction workers into Israel as the government seeks to ease the economic hardship that officials say has fueled a wave of Palestinian attacks. Some 43,000 Palestinians already work in the sector that does not usually attract Israeli labor. Israeli Finance Minister Moshe Kahlon told a news conference on Monday he planned to bring the proposal to the cabi
  
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• Job cuts to escalate in South African mines as global economy slows

  15-02-2016 16:09 via news.yahoo.com
  
  By Zandi Shabalala CAPE TOWN (Reuters) - Job losses in South Africa's mining sector are likely to accelerate with mining companies such as Glencore and Anglo American battling to cope with a global commodity price slump. The government has warned that 32,000 workers in the sector could lose their jobs as metals prices fall due to slowing economic growth in China, the world's biggest metals consumer. Industry officials predict more than 50,000 job cuts.
  
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• EMERGING MARKETS-Mexico, Colombia peso up for 2nd day on higher yuan

  15-02-2016 16:06
  
  By Bruno Federowski SAO PAULO, Feb 15 (Reuters) - Latin American currencies advanced for a second day on Monday after China's central bank allowed the yuan to strengthen, easing global concerns...
  
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• Russia gets a cold; ex-Soviet neighbours catch pneumonia

  15-02-2016 16:04
  
  DUSHANBE/MINSK, Feb 15 (Reuters) - Before he left Russia at the end of 2014, Sayidhuja Rizoyev used to make up to $40 a day as a construction worker. Then his boss decided not to renew his contract,...
  
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• Pets are comforting, but shares of pet-focused companies may not be

  15-02-2016 16:02 via news.yahoo.com
  
  Come economic rain or shine, Americans spend $60 billion a year on their pets, a fact that has led investors to seek shelter in pet company shares when the stock market goes to the dogs. Shares of companies that feed, groom, treat or pamper pets generally outperform the overall stock market during recessions and market routs, but that doesn't mean they all do well. Over the last year, for example, natural pet food companies Freshpet Inc and Blue Buffalo Pet Products Inc have nosedived as thin ma
  
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• Colombia's ISA to offer $117 mln in local bonds

  15-02-2016 15:54
  
  BOGOTA, Feb 15 (Reuters) - Colombian electricity company ISA , will offer up to 400 billion pesos ($117.3 million) in local bonds beginning on Tuesday, as part of its larger 3.5 trillion in planned...
  
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• Investors return cautiously to gold after drubbing

  15-02-2016 15:51
  
  LONDON, Feb 15 (Reuters) - Negative interest rates, financial turmoil and a weaker dollar should be drawing investors into gold, the traditional "safe haven". Some are indeed returning, but after a...
  
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• ECB chief says bank is ready to act in March if needed

  15-02-2016 15:42 via news.yahoo.com
  
  BRUSSELS/FRANKFURT (Reuters) - The European Central Bank is ready to ease policy in March if the recent financial market turmoil or the long-term impact of low energy prices threatens to keep inflation persistently low, its president Mario Draghi said on Monday. "First, we will examine the strength of the pass-through of low imported inflation to domestic wage and price formation and to inflation expectations," Draghi told the European Parliament's Economic and Monetary Affairs Committee. "Secon
  
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• Turkish bonds fall, CDS rise on Syria border tensions

  15-02-2016 15:30
  
  LONDON, Feb 15 (Reuters) - Turkish sovereign dollar bonds sold off heavily on Monday and default insurance costs rose amid escalating military tensions around its border with Syria.
  
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• Thousands march in Brussels against cheap Chinese steel imports

  15-02-2016 15:19 via news.yahoo.com
  
  Thousands of European steelmakers descended on the EU capital Brussels on Monday demanding that officials do more to stop the flood of cheap imports from China. Police said about 5,200 representatives from Europe's struggling steel industry circled the EU's Berlaymont headquarters demanding that China be denied market-economy status, an official designation that would make it harder to raise barriers against cheap Chinese steel products. "Say 'no' to MES for China," said a banner carried by stee
  
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• Gold slips 2 pct after strongest week in 4 years as stocks rebound

  15-02-2016 14:55 via news.yahoo.com
  
  By Jan Harvey LONDON (Reuters) - Gold fell more than 2 percent on Monday as a rebound in stock markets pointed to a sharper appetite for risk, pulling down prices from last week's one-year high. The metal is coming off its strongest weekly rise in more than four years, having peaked at $1,260.60 an ounce on Thursday, its highest since Feb. 6 last year, as turmoil in global equities stoked safe-haven demand for the metal. Spot gold was down 2.3 percent at $1,209.80 an ounce at 1312 GMT, while U.S
  
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• Russia to consider role for non-state pension fund in privatisation plan - Putin

  15-02-2016 14:02
  
  MOSCOW, Feb 15 (Reuters) - President Vladimir Putin said on Monday it was worth considering the idea of Russia's non-state pension fund taking part in planned privatisation sell-offs, RIA news agency...
  
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• Ukrainian prosecutor quits over corruption as government teeters

  15-02-2016 13:57
  
  KIEV, Feb 15 (Reuters) - A senior Ukrainian prosecutor resigned on Monday, calling the office he worked for a "hotbed of corruption", another blow to government attempts to clean up the judiciary, a...
  
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• GLOBAL MARKETS-Shares climb as firmer Chinese yuan eases deflation fears

  15-02-2016 13:46
  
  LONDON, Feb 15 (Reuters) - World stocks rose sharply on Monday as China's central bank fixed the yuan at a much stronger rate and oil cemented recent gains, easing fears of global deflation.
  
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• Standard Chartered cuts Brent oil price forecast for 2016

  15-02-2016 13:44 via news.yahoo.com
  
  (Reuters) - Standard Chartered lowered its 2016 Brent crude price forecasts by $13 a barrel on Monday, mainly due to the impact of a weaker outlook for the U.S. economy.
  
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• Storm clouds gather on Italy's budget horizon

  15-02-2016 13:29
  
  ROME, Feb 15 (Reuters) - Italy's public finance difficulties are set to deepen as its economy weakens, and it may be punished by the markets even if Prime Minister Matteo Renzi reaches a compromise...
  
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• Yen and euro sink as China and Japan ease global nerves

  15-02-2016 13:21 via news.yahoo.com
  
  By Patrick Graham LONDON (Reuters) - The euro and yen weakened on Monday as a warning from Japan's prime minister about excessively volatile currency markets and the biggest one-day gain for China's yuan in more than a decade helped settle financial nerves. A stock market sell-off since the start of February has driven a wave of capital to seek the traditional safety of Japan, driving the yen 7 percent higher and prompting speculation Tokyo would intervene against the currency. Japanese Prime Mi
  
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• EU ready to impose more sanctions on Burundi

  15-02-2016 13:11 via news.yahoo.com
  
  By Robin Emmott BRUSSELS (Reuters) - European Union foreign ministers said on Monday they were prepared to strengthen economic sanctions on Burundi following the failure of talks to end a political crisis in the Central African country in which more than 440 people have been killed. The United Nations has repeatedly warned of Burundi sliding back into an ethnically charged conflict, more than a decade after a civil war that killed 300,000, and said it has reports of mass graves and gang-rapes by
  
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• South African government urged to sell underperforming state companies

  15-02-2016 13:04 via news.yahoo.com
  
  By Peroshni Govender JOHANNESBURG (Reuters) - The South African government should sell some state companies to improve public finances which have been hit by a weak economy, a privatisation team commissioned by President Jacob Zuma has recommended. Analysts said any sales would probably be smaller companies and not struggling power utility Eskom or national carrier South African Airways. Many of South Africa's 300-odd state entities are a drain on the government's purse.
  
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• Euro zone inflation expectations lift off record lows on stronger yuan

  15-02-2016 12:54
  
  LONDON, Feb 15 (Reuters) - Euro zone long-term inflation expectations bounced off record lows on Monday after China's central bank fixed the yuan rate stronger, easing some recent worries about a...
  
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• Bundesbank sees German growth picking up

  15-02-2016 12:37 via news.yahoo.com
  
  German economic growth could pick up again modestly in the first three months of 2016, driven by robust domestic demand, the country's national central bank said on Monday. "In the first quarter of this year, the German economy could expand at a slightly stronger rate than at the end of last year, powered particularly by increasing internal economic momentum," the Bundesbank wrote in its latest monthly report. According to the preliminary data released last week, Germany's gross domestic product
  
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• EU regulators to examine lawmakers' report on IKEA taxes

  15-02-2016 12:30 via news.yahoo.com
  
  European Union state aid regulators will examine a report by a group of EU lawmakers accusing Swedish furniture retailer IKEA [IKEA.UL] of avoiding paying at least 1 billion euros ($1.1 billion) in taxes over a six-year period. IKEA has said it paid an effective corporate income tax rate of about 19 percent in 2015. The study commissioned by the Green party in the European Parliament said the world's biggest furniture retailer was able to do this by shifting royalty income through a Dutch compan
  
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• EU steel workers protest against cheap Chinese imports

  15-02-2016 12:27 via news.yahoo.com
  
  BRUSSELS (AP) — Thousands of steel workers from across the European Union are demonstrating against the import of cheap Chinese products and are warning EU leaders not to exacerbate the situation by granting Beijing market economy status.
  
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• Bosnia applies to join EU, but has a long road ahead

  15-02-2016 12:21 via news.yahoo.com
  
  By Gabriela Baczynska BRUSSELS (Reuters) - Bosnia formally applied for membership of the European Union on Monday, although Brussels says it must carry out a series of reforms before the application can even be considered. A war in Bosnia in 1990s, part of the breakup of Yugoslavia, killed some 100,000 people. Sarajevo has wanted to apply on several occasions, but the 28-nation EU said each time it had to further improve its economy, justice system, rule of law, public administration and politic
  
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• Russia says better Iran-Saudi Arabia ties would help oil prices: RIA

  15-02-2016 12:17 via news.yahoo.com
  
  Russia wants to see improved relations between Iran and Saudi Arabia at a time when joint action is needed to influence global oil prices, the RIA news agency on Monday quoted Zamir Kabulov, a senior official at Russia's Foreign Ministry, as saying. Russia, one of the world's top oil producers, has repeatedly refused to cooperate with the Organization of the Petroleum Exporting Countries in recent years despite the falling price of oil, the lifeblood of its economy.
  
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• Global stocks rally as China avoids meltdown

  15-02-2016 12:15 via news.yahoo.com
  
  European stock markets rallied sharply Monday building on Asian gains after Shanghai avoided a sharp selloff on its return from holidays and banks were buoyed by HSBC's decision to stay in London. Frankfurt and Paris jumped about 3.0 percent and London won almost two percent, while Athens surged six percent and Milan soared 3.6 percent in value. Shanghai fell 0.6 percent -- but losses were modest considering traders were playing catch-up with last week's bloodbath across world stock markets.
  
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• China exports, imports slump in January

  15-02-2016 11:34 via news.yahoo.com
  
  Chinese trade slumped in January, authorities said Monday, as both exports and imports tumbled with feeble domestic and global demand dragging on the world's second-largest economy. Exports dropped 11.2 percent year-on-year to $177.5 billion in dollar terms, Customs said, while imports plummeted 18.8 percent to $114.2 billion -- giving the Asian giant a record monthly trade surplus of $63.3 billion. Tremors in overseas markets and weakness in partner economies have weighed on China, a main drive
  
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• IMF to start talks with Tunisia over new loan programme: official

  15-02-2016 11:26 via news.yahoo.com
  
  A delegation from the International Monetary Fund will visit Tunisia on Thursday to begin talks on a new credit programme likely to be worth at least $1.7 billion, a Tunisian official said. Tunisia is seeking to revive an economy that has struggled since the 2011 uprising that sparked the Arab Spring revolutions across North Africa, with deadly attacks last year by Islamist militants hitting the tourism industry on which it relies for jobs and revenue. The new IMF programme will succeed a two-ye
  
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• Japan's Nikkei jumps 7.2 percent, leads world stocks higher

  15-02-2016 10:37 via news.yahoo.com
  
  HONG KONG (AP) — Japanese stocks rocketed Monday, leading a global market rally after dismal growth data raised hopes of extra stimulus for the world's third-biggest economy. Chinese shares dropped on their first day of trading after a weeklong holiday that coincided with a sharp sell-off in global markets.
  
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• Australian state could take 13% of globe's nuclear waste: report

  15-02-2016 09:27 via news.yahoo.com
  
  A nuclear dump in an Australian state could handle 13 percent of the world's atomic waste and prove "highly profitable" in the long term, initial findings from a high-level inquiry said on Monday. Australia has yet to decide where to store its own radioactive waste let alone any imported material. "The storage and disposal of used nuclear fuel in South Australia is likely to deliver substantial economic benefits to the South Australian community," it said in what it described as "tentative findi
  
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• Nigeria in talks with oil majors to repay debt, invest in refineries

  15-02-2016 09:14 via news.yahoo.com
  
  By Julia Payne ABUJA (Reuters) - Nigeria is in talks with oil majors and banks to raise capital for new drilling and to repay up to $4 billion in debt that the state oil firm has accumulated over years of mismanagement, the firm's head told Reuters. Emmanuel Ibe Kachikwu, who is also the minister of state for petroleum, said he wanted to increase output to up to 2.5 million barrels per day by the end of 2016. President Muhammadu Buhari has made reforming the oil sector a priority as a slump in o
  
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