Finance news

• Ecuador says Brexit 'spoils' scheduled bond issue

  25-06-2016 23:36
  
  QUITO, June 25 (Reuters) - Ecuadorean President Rafael
  Correa said on Saturday that Britain's vote to leave the
  European Union has "spoiled" a bond issue that had been planned
  for next week to help...
  
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• WRAPUP 6-Merkel sees no need to rush Britain into quick EU divorce

  25-06-2016 22:40
  
  LONDON/BERLIN, June 25 (Reuters) - German Chancellor Angela
  Merkel sought on Saturday to temper pressure from Paris,
  Brussels and her own government to force Britain into
  negotiating a quick divorce...
  
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• Investor George Soros calls for reconstruction of EU after 'Brexit' vote

  25-06-2016 22:09 via news.yahoo.com
  
  (Reuters) - Billionaire investor George Soros on Saturday called for thorough reconstruction of the European Union in order to save it, even though he warned that Britain's vote to leave the bloc makes "disintegration of the EU practically irreversible." Soros, who warned of financial meltdown if Britain voted to leave the EU before Thursday's referendum, also said the effects of the decision will likely damage Britain. "Britain eventually may or may not be relatively better off than other count
  
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• Central banks ready to cooperate after Brexit result

  25-06-2016 22:07 via news.yahoo.com
  
  Central banks are ready to cooperate to support financial stability in the wake of Britain's vote to leave the European Union, the Bank for International Settlements said on Saturday. Central bankers gathered at the organization's global economy meeting in Switzerland discussed the implications of the referendum. "Governors endorsed the contingency measures put in place by the Bank of England and emphasized the preparedness of central banks to support the proper functioning of financial markets,
  
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• UPDATE 1-Investor George Soros calls for reconstruction of EU after 'Brexit' vote

  25-06-2016 22:03
  
  June 25 (Reuters) - Billionaire investor George Soros on
  Saturday called for thorough reconstruction of the European
  Union in order to save it, even though he warned that Britain's
  vote to leave the...
  
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• Behind the support for Brexit and Trump: Economic resentment

  25-06-2016 21:39 via news.yahoo.com
  
  WASHINGTON (AP) — The United Kingdom's stunning vote to leave the European Union was driven by much of the same sentiment that fueled Donald Trump's insurgent march toward the Republican presidential nod: a rejection of economic globalization and the elites who favor it by those who feel left behind.
  
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• Investor George Soros says 'Brexit' means 'disintegration' of EU

  25-06-2016 21:10 via news.yahoo.com
  (Reuters) - Billionaire investor George Soros said on Saturday that Britain's vote to leave the European Union makes "disintegration of the EU practically irreversible," and that the effects of Thursday's referendum will likely damage Britain. "Britain eventually may or may not be relatively better off than other countries by leaving the EU, but its economy and people stand to suffer significantly in the short to medium term," he wrote in a commentary on the website Project Syndicate. ...
  
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• SolarCity recuses two more board members from voting on Tesla offer

  25-06-2016 20:33
  
  June 25 (Reuters) - Two additional SolarCity Corpboard members with ties to Elon Musk are recusing themselves
  from making decisions regarding Tesla Motors Inc'soffer to buy the solar power...
  
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• UPDATE 1-TransCanada formally seeks NAFTA damages in Keystone XL rejection

  25-06-2016 20:11
  
  TORONTO, June 25 (Reuters) - TransCanada Corp is
  formally requesting arbitration over U.S. President Barack
  Obama's rejection of the Keystone XL pipeline, seeking $15
  billion in damages, the company...
  
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• Trump plays down post-Brexit market turmoil on Aberdeen visit

  25-06-2016 19:44
  
  ABERDEEN, Scotland, June 25 (Reuters) - U.S. presidential
  candidate Donald Trump played down market turmoil in the wake of
  Britain's decision to leave the European Union on a visit to his
  Trump...
  
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• UPDATE 4-Germany's Merkel signals sober separation from EU "partner" Britain

  25-06-2016 19:11
  
  BERLIN/HERMANNSWERDER, Germany, June 25 (Reuters) - German
  Chancellor Angela Merkel called on Saturday for clear-headed
  negotiations with "close partner" Britain over its departure
  from the European...
  
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• TransCanada formally seeks damages over Keystone XL rejection

  25-06-2016 18:54 via news.yahoo.com
  TORONTO (Reuters) - TransCanada Corp is formally requesting arbitration over U.S. President Barack Obama's rejection of the Keystone XL pipeline, seeking $15 billion in damages, the company said in legal papers dated Friday. Obama rejected the Canadian company's cross-border crude oil pipeline last November, seven years after it was first proposed, saying it would not make a meaningful long-term contribution to the U.S. economy. (Reporting by Ethan Lou in Toronto, Editing by Franklin Paul)
  
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• France's Macron wants EU-wide referendum, far-left slams Hollande 'nervousness'

  25-06-2016 18:41 via news.yahoo.com
  By Leigh Thomas and Ingrid Melander PARIS (Reuters) - France's economy minister said on Saturday that the European Union needs a new road map that should be devised in consultation with voters and then put to a referendum, as Paris sought for ways to handle the fallout at home from the Brexit vote. The British people's vote to leave the EU has deepened fears among mainstream politicians across Europe about the rise of anti-establishment parties, particularly in France, where the far-right, euros
  
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• France's Macron wants new European project, and an EU-wide referendum

  25-06-2016 14:47 via news.yahoo.com
  By Leigh Thomas PARIS (Reuters) - The European Union needs a new roadmap that should be devised in consultation with voters and then put to a referendum, France's Economy Minister Emmanuel Macron said on Saturday in comments that may further stir tensions with the ruling Socialist Party. Macron's talk of a European-wide referendum goes beyond comments made by President Francois Hollande and Prime Minister Manuel Valls, who both said the EU needed to reinvent itself after Britons voted to leave t
  
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• Britain, EU at odds over timing of divorce talks

  25-06-2016 13:55 via news.yahoo.com
  
  LONDON (AP) — Britain and the EU haven't even begun divorce talks but they are already bickering, as political and economic shockwaves from the British vote spread around the world.
  
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• France's Macron wants new project for Europe, and submit project to referendum

  25-06-2016 13:46 via news.yahoo.com
  The European Union must consult voters on building a new project for the bloc, French Economy Minister Emmanuel Macron said on Saturday, making a proposal to hold a referendum once that project is crafted. "I think that people must be consulted, we must ask their opinion," Macron told reporters, adding this should be done through a serious of debates. "It must be done in the right framework." "We would first build this new project with European peoples and then submit this new roadmap, this new
  
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• France says need quick start of Brexit talks, no 'cat and mouse game'

  25-06-2016 13:01 via news.yahoo.com
  Britain must quickly trigger the Article 50 clause that allows talks to start on its exit from the European Union, French Foreign Minister Jean-Marc Ayrault said on Saturday after a meeting of six European foreign ministers in Berlin. It would not be acceptable for Britain to play a "cat and mouse" game, he told reporters. "It's in Britain's interest and in the interest of Europeans not to have a period of uncertainty that would have financial consequences, and that could have economic and polit
  
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• Italy economy minister says Brexit likely to hit growth, public finances

  25-06-2016 11:13 via news.yahoo.com
  Italy's Economy Minister Pier Carlo Padoan said on Saturday that Britain's vote to leave the European Union could lead to the Italian economy growing less than initially forecast, with a negative impact on public finances. Italy, the euro zone's third largest economy, has posted weak growth since it emerged from a three-year recession at the start of 2015 and continues to lag the rest of the currency bloc. "We have to be very clear: it can't be ruled out that, following Brexit, for reasons outsi
  
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• Wall Street eyes low rates, earnings after Brexit rout

  25-06-2016 10:12 via news.yahoo.com
  
  U.S. companies do stand to lose from Britain's divorce from the EU, a process expected to take two years to negotiate. Fed Chair Janet Yellen is scheduled to speak at an event in Portugal on Wednesday and investors will want to know how she sees the so-called Brexit changing the outlook for the U.S. economy and interest rates.
  
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• Brexit more heartburn than heart attack for hedge funds

  25-06-2016 09:50
  
  NEW YORK/BOSTON (Reuters) - UK voters' surprise decision to leave the European Union roiled markets on Friday, but hedge funds appear to have avoided crippling losses, according to market data and...
  
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• Mozambique economic growth to slow to 4.5 percent in 2016 - IMF

  25-06-2016 09:44 via news.yahoo.com
  
  Mozambique's economic growth will likely slow to 4.5 percent in 2016 from 6.6 percent the previous year due to rapidly rising inflation and growing government debt, the International Monetary Fund said on Friday. Michel Lazare, the leader of a Fund team that visited the southern African country, said the discovery of more than $1 billion of previously undisclosed government debt would increase pressure on the economy. "Economic growth in 2016 is expected to decline to 4.5 percent, nearly three p
  
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• India blames China for stalled nuclear group entry

  25-06-2016 09:08 via news.yahoo.com
  
  India has blamed regional rival China for blocking its entry to a nuclear trade group opposed to the proliferation of nuclear weapons, after its members met in South Korea with no decision on India's bid to join. India wants to become a member of the 48-nation Nuclear Suppliers Group (NSG) which works to prevent the sharing of technology that could spread nuclear weapons. New Delhi believes joining the NSG, which concluded a two-day meeting in Seoul Friday, would give it better access to low-cos
  
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• Singapore finance minister Heng discharged from hospital after recovery from stroke

  25-06-2016 07:14 via news.yahoo.com
  Singapore Finance Minister Heng Swee Keat, who suffered from a stroke last month, has been discharged from hospital but will remain on a medical leave, the government said. Deputy Prime Minister and Coordinating Minister for Economic and Social Policies, Tharman Shanmugaratnam, will continue to cover Heng's duties, a statement from the prime minister's office said. Heng's doctors have advised him against receiving visitors for the time being to minimize the risk of infection, the statement said.
  
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• China media snidely criticize Brexit vote, but upbeat on UK ties

  25-06-2016 03:33 via news.yahoo.com
  
  By Ben Blanchard BEIJING (Reuters) - Chinese state media on Saturday offered snide criticism of the negative consequences of democracy after Britain voted to leave the European Union, but vowed to stand by the "golden age" of Sino-British ties. Relations between Britain and China have been warming over the past few years and economic links have multiplied, in what both countries refer to as a "golden age" in ties, a concept promoted by President Xi Jinping and British Prime Minister David Camero
  
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• Dick's Sporting Goods bids on 17 Sports Authority stores -source

  25-06-2016 03:23
  
  NEW YORK, June 23 (Reuters) - Dick's Sporting Goodssubmitted a bid for 17 Sports Authority stores, with other
  retailers making offers for only single locations of the
  bankrupt sporting goods...
  
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• Robo-adviser Betterment suspended trading during Brexit upheaval -WSJ

  25-06-2016 03:10 via news.yahoo.com
  
  (Reuters) - Betterment LLC, an automated financial adviser, suspended all trading on Friday morning as Britain's vote to quit the European Union sent a shock wave through global financial markets, The Wall Street Journal reported. Clients were not aware of the halt, which ran from the market's 9:30 a.m. open until noon, the Journal said. (http://on.wsj.com/28VBXzp) The company, which manages $4.8 billion (3. ...
  
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• HBO says Brexit won't hurt 'Game of Thrones' production

  25-06-2016 01:18 via news.yahoo.com
  
  LOS ANGELES (Reuters) - "Game of Thrones," the hit HBO cable TV series that is partly filmed in Northern Ireland, will not suffer due to Britain's decision to leave the European Union, the cable network said on Friday, aiming to quash speculation that the lavishly produced show would lose EU funding. Britons voted on Thursday to leave the European Union, a decision that economists and government leaders say clouds growth prospects for the world's fifth-largest economy and could dim its attractio
  
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• Court says ETE can walk away from $20 billion Williams takeover

  25-06-2016 01:12
  
  NEW YORK/WILMINGTON, Del. (Reuters) - Energy Transfer Equitywon a court ruling on Friday that would allow the pipeline operator to walk away from its more than $20 billion takeover of rival...
  
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• UPDATE 3-Court says ETE can walk away from $20 bln Williams takeover

  25-06-2016 01:10
  
  NEW YORK/WILMINGTON, Del., June 24 (Reuters) - Energy
  Transfer Equity won a court ruling on Friday that would
  allow the pipeline operator to walk away from its more than $20
  billion takeover of rival...
  
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• Britain votes to leave EU, Cameron quits, markets rocked

  25-06-2016 01:06 via news.yahoo.com
  
  By Guy Faulconbridge and Kate Holton LONDON (Reuters) - Britain has voted to leave the European Union, forcing the resignation of Prime Minister David Cameron and dealing the biggest blow since World War Two to the European project of forging greater unity. Global stock markets plunged on Friday, and the British pound saw its biggest one day drop in history, as results from a referendum defied bookmakers' odds to show a 52-48 percent victory for the campaign to leave the bloc Britain joined more
  
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• Lord Hill resigns after Brexit

  25-06-2016 01:00
  Converted Eurosceptic was in charge of the bloc’s important financial services portfolio
  
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• CMU architect Lord Hill resigns

  25-06-2016 01:00
  Converted Eurosceptic was in charge of the bloc’s important financial services portfolio
  
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• Russell reconstitution adds to U.S. market's volume, volatility

  25-06-2016 00:54 via news.yahoo.com
  FTSE Russell reconfigured its indexes at the close in an annual event that triggered the highest trading volume for any session in almost five years and added to Friday's high volatility in the U.S. stock market. Trades in about 933 million shares representing $20.6 billion were executed in Nasdaq's "closing cross" in 0.8 seconds across some 2,464 Nasdaq-listed stocks, according to bourse. The closing cross brings together the buy and sell interest in specific Nasdaq, NYSE and NYSE MKT stocks an
  
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• Global markets lose $2.1 trillion in Brexit rout

  25-06-2016 00:43 via news.yahoo.com
  
  London (AFP) - Britain's shock vote to pull out of the European Union wiped $2.1 trillion from global equity markets Friday as traders panicked in the face of a new threat to the global economy.
  
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