Finance news

• Deutsche Boerse mulls trimming LSE tender threshold to 60 percent - WSJ

  10-07-2016 19:59 via news.yahoo.com
  
  (Reuters) - Deutsche Boerse AG is considering lowering the approval threshold for its merger with London Stock Exchance Group Plc to 60 percent of shareholders from 75 percent, the Wall Street Journal reported, citing people familiar with the matter. Deutsche Boerse is concerned that the tender offer, launched for its shares as part of the deal, could fail to get more than 75 percent of its stock by the Tuesday deadline, the Journal said, citing the people. London Stock Exchange Group said on Ju
  
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• Deutsche Boerse mulls trimming LSE tender threshold to 60 pct -WSJ

  10-07-2016 19:52 via news.yahoo.com
  Deutsche Boerse AG (Xetra: 581005 - news) is considering lowering the approval threshold for its merger with London Stock Exchance Group Plc to 60 percent of shareholders from 75 percent, the Wall Street Journal reported, citing people familiar with the matter. Deutsche Boerse (LSE: 0H3T.L - news) is concerned that the tender offer, launched for its shares as part of the deal, could fail to get more than 75 percent of its stock by the Tuesday deadline, the Journal said, citing the people. A fina
  
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• Peru's Kuczynski sets ambitious poverty-reduction target

  10-07-2016 19:31 via news.yahoo.com
  Peru's centrist President-elect Pedro Pablo Kuczynski said on Sunday that he would strive to cut the Andean country's poverty rate by more than half to leave it at no more than 10 percent at the end of his five-year term. Outgoing President Ollanta Humala had set out to lower the rate to 15 percent before a drop in prices for Peru's key mineral exports hit economic growth. The poverty rate inched down 1 percentage point to 21.8 percent last year.
  
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• Airbus set for Virgin, Germania order boosts at Farnborough

  10-07-2016 17:48 via news.yahoo.com
  
  By Tim Hepher FARNBOROUGH, England (Reuters) - Airbus is set to announce a key order for 8-10 of its biggest twin-engined model, the A350-1000, from Virgin Atlantic after beating Boeing to a scarce order for big jets as economic and political uncertainties overshadow the Farnborough Airshow. The order, worth some $3 billion at list prices, could perk up Monday's opening of an event clouded by geopolitical uncertainty, including Britain's decision to leave the European Union and concerns over the
  
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• Japan's ruling bloc wins landslide in upper house election

  10-07-2016 16:29 via news.yahoo.com
  
  By Linda Sieg and Minami Funakoshi TOKYO (Reuters) - Prime Minister Shinzo Abe's ruling coalition won a landslide victory on Sunday in an election for parliament's upper house, despite concerns about his economic policies and plans to revise the nation’s post-war pacifist constitution for the first time. Media projections showed Abe's coalition and like-minded parties had won the two-thirds "super majority" needed to try to revise the constitution's restraints on the military, a step that
  
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• Airbus seen bagging Germania order as economic worries cloud industry

  10-07-2016 15:50 via news.yahoo.com
  
  By Tim Hepher FARNBOROUGH, England (Reuters) - German airline Germania is close to placing an order with European planemaker Airbus for around 25 A320-family jets, two industry sources said on Sunday, as aviation chiefs gathered for an industry summit clouded by economic worries. The privately-held German carrier operates a mixed fleet of Airbus and Boeing jets but has said it aims to harmonize its fleet by switching to all-Airbus aircraft when it takes older Boeing 737-700s out of service. The
  
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• MIDEAST STOCKS-Egypt jumps on further devaluation speculation

  10-07-2016 15:36 via news.yahoo.com
  By David French DUBAI, July 10 (Reuters) - Egypt's stock market posted its largest one-day gain in nearly four months on Sunday as speculation over a further currency devaluation in the North African country combined with positive global cues to propel the exchange higher. In the first day of trading after the Eid al-Fitr holiday, which marks the end of the Muslim fasting month of Ramadan, Egypt's main index jumped 4.7 percent. The surge came after a 2.9 percent increase last Monday, the last se
  
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• Thyssenkrupp says in talks with Tata about European steel plants

  10-07-2016 15:34
  
  FRANKFURT (Reuters) - Thyssenkrupp , Germany's biggest steelmaker, confirmed on Sunday that it is in talks with India's Tata Steelabout a consolidation of beleaguered European steel mills that are...
  
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• Boeing defense CEO says always looking at M&A opportunities

  10-07-2016 15:02
  
  FARNBOROUGH, England (Reuters) - Boeing Co'sdefense division is continuing to look at bolt-on acquisitions across its various business areas, and particularly in the services business, Leanne...
  
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• Brazil could sell Sao Paulo and Rio airports, president tells paper

  10-07-2016 14:38 via news.yahoo.com
  
  Brazil's government will consider selling airports in Sao Paulo and Rio to help to reduce a large fiscal deficit next year, interim President Michel Temer told the Folha de S.Paulo newspaper on Sunday. The paper said that the previous government's objections to a potential sale of the Santos Dumont airport in Rio and Congonhas airport in Sao Paulo are not echoed by Temer, nor the government's economic team.
  
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• AIRSHOW-UK to finalise Boeing patrol plane, helicopter deals - sources

  10-07-2016 13:48
  
  FARNBOROUGH, England, July 10 (Reuters) - British Prime
  Minister David Cameron is likely to finalise multi-billion
  dollar deals with Boeing on Monday to buy nine P-8A
  Poseidon maritime patrol planes...
  
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• Sterling's fall could batter UK's fish & chips

  10-07-2016 13:30
  
  LONDON, July 10 (Reuters) - Prices of salmon and squid have
  soared as disease and weather hurt global supplies, and British
  fish sellers say the Brexit-related drop in its currency may be
  the next...
  
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• Japan's ruling bloc wins landslide in upper house election: exit polls

  10-07-2016 13:28 via news.yahoo.com
  
  By Linda Sieg TOKYO (Reuters) - Prime Minister Shinzo Abe's ruling coalition won a landslide victory on Sunday in an election for parliament's upper house, despite doubts about his economic policies and his goal of revising the pacifist constitution. Abe's coalition and like-minded parties also got the two-thirds "super majority" needed to try to revise the post-war constitution for the first time, some TV exit polls showed, although others said just that it was within their grasp. Abe's Liberal
  
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• Japan LDP policy chief Inada calls for changing pacifist constitution

  10-07-2016 13:24
  
  TOKYO, July 10 (Reuters) - The policy chief of Japan's
  ruling Liberal Democratic Party on Sunday called for changing
  the nation's pacifist constitution after the ruling coalition
  won a landslide...
  
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• Faced with Brexit, Swiss central bank vows 'flexibility'

  10-07-2016 13:15 via news.yahoo.com
  
  Switzerland's central bank will react with "flexibility" to the shifting economic realities following Britain's vote to leave the European Union, its chief said in a newspaper interview published Sunday. "In the short term, Switzerland must react with flexibility to the changes affecting financial markets and the global economy," he said.
  
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• European tech investors spot safe havens from Brexit worries

  10-07-2016 13:10 via news.yahoo.com
  
  Shareholders are also wary of software and services firms getting caught short by budget freezes by customers scrambling to reassess their businesses and resulting slowing economic growth. Amazon.com and Apple , while active in Britain, enjoy strong brands and have sticky subscription business models likely to insulate them from any UK slowdown, he said.
  
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• Germania may order 25 Airbus A320-family jets: sources

  10-07-2016 13:05 via news.yahoo.com
  
  By Tim Hepher FARNBOROUGH, England (Reuters) - German airline Germania is close to placing an order with European planemaker Airbus for around 25 A320-family jets, two industry sources said on Sunday, as aviation chiefs gathered for an industry summit clouded by economic worries. The privately-held German carrier operates a mixed fleet of Airbus and Boeing jets but has said it aims to harmonize its fleet by switching to all-Airbus aircraft when it takes older Boeing 737-700s out of service. The
  
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• AIRSHOW-U.S. Air Force urges decision on delayed Mideast fighter jet sales

  10-07-2016 11:33
  
  FARNBOROUGH, England, July 10 (Reuters) - A top U.S. Air
  Force official on Sunday urged the U.S. government to speed up
  its consideration of long-standing bids by Qatar, Kuwait and
  Bahrain to buy...
  
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• Egypt non-oil business activity slows for ninth straight month in June-PMI

  10-07-2016 11:17 via news.yahoo.com
  Business activity in Egypt shrank for the ninth straight month in June on the back of further declines in output, new orders, and employment, a survey showed on Sunday. The Emirates NBD Egypt Purchasing Managers Index (PMI) for the non-oil private sector recorded 47.5 points in June, marginally lower than the 47.6 points posted in May and below the 50-point mark that separates growth from contraction. Egypt has been struggling to revive its economy since a popular uprising in 2011 and subsequent
  
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• MIDEAST STOCKS-Saudi, Egypt stock markets rise in early post-Eid trade

  10-07-2016 11:15 via news.yahoo.com
  Saudi Arabia's stock market rose in early trading on Sunday, the first day many Middle Eastern bourses re-opened after the Eid al-Fitr holiday, while the performance of other regional exchanges were mixed. The main Tadawul index rose 0.8 percent, with most blue chip stocks higher, including Al Rajhi Bank and Saudi Basic Industries Corp, which were 2.6 percent and 0.3 percent higher respectively. Saudi Arabia's midcaps were also broadly firmer on the first day of trading since June 30, led by Faw
  
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• AIRSHOW-Germania may order 25 Airbus A320-family jets - sources

  10-07-2016 10:32
  
  FARNBOROUGH, England, July 10 (Reuters) - German airline
  Germania is close to placing an order with European planemaker
  Airbus for around 25 A320-family jets, two industry
  sources said.
  
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• RPT-AIRSHOW-Farnborough faces fewer jet orders, as Boeing turns 100

  10-07-2016 10:07
  
  FARNBOROUGH, England, July 10 (Reuters) - The aerospace
  industry is preparing to celebrate major milestones at the
  Farnborough Airshow next week as Boeing turns 100 and Canada's
  Bombardier marks the...
  
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• G20 seeks to enhance trade growth in face of protectionism -China

  10-07-2016 10:05 via news.yahoo.com
  
  In the face of a "worrying" rise in protectionism, trade ministers from the world's major economies have agreed to cut trade costs, increase policy coordination and enhance financing, China's Commerce Minister Gao Hucheng said on Sunday. The Group of 20 trade ministers, who wrapped up a two-day meeting in Shanghai on Sunday, approved a broad trade growth strategy aimed at reversing a slowing in global trade, and backed guiding principles for global investment policymaking. The specter of protect
  
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• UPDATE 1-G20 seeks to enhance trade growth in face of protectionism -China

  10-07-2016 10:03
  
  * Agrees to cut trade costs, increase policy coordination,
  enhance financing
  
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• Egypt's annual urban consumer price inflation jumped to 14.0 pct in June

  10-07-2016 08:45
  
  CAIRO, July 10 (Reuters) - Egypt's urban consumer inflation
  jumped to 14 percent in June from 12.3 percent in May, the
  statistics agency said on Sunday.
  
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• China inflation up 1.9 percent in June, slowest in 6 months

  10-07-2016 07:08 via news.yahoo.com
  BEIJING (AP) — Chinese government data showed consumer prices in June rose at the slowest pace in six months, suggesting the world's second-largest economy is still experiencing weak consumer demand amid a broad downturn.
  
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• Wall Street Weekahead: Bank earnings loom large as stocks near record

  10-07-2016 07:02 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - The focus on Wall Street will shift to corporate earnings next week after a strong June jobs report on Friday gave investors confidence that the U.S. economy was on stable footing and left the S&P 500 within a whisper of a new closing record high. Earnings next week are expected from big banks JPMorgan Chase, Citigroup and Wells Fargo as well as other financial companies such as BlackRock and PNC Financial Services. If bank earnings come in better th
  
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• RPT-Wall St Week Ahead-Bank earnings loom large as stocks near record

  10-07-2016 07:00
  
  NEW YORK, July 8 (Reuters) - The focus on Wall Street will
  shift to corporate earnings next week after a strong June jobs
  report on Friday gave investors confidence that the U.S. economy
  was on...
  
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• UPDATE 1-Japan's ruling bloc heads for hefty win in vote, but just how big?

  10-07-2016 05:46
  
  * Focus on whether ruling bloc, allies will get "super
  majority"(Updates with comments from voters)
  
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• China inflation eases in June: govt

  10-07-2016 05:35 via news.yahoo.com
  
  China's consumer price growth slowed in June, the National Bureau of Statistics (NBS) said Sunday, giving the central government room for further monetary stimulus to stabilise economic growth. The consumer price index (CPI) -- a main gauge of inflation -- rose 1.9 percent on-year, the National Bureau of Statistics said, lower than May's 2.0 percent but higher than the 1.8 median forecast in a Bloomberg News survey of economists. Moderate inflation can be a boon to consumption as it pushes buyer
  
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• Awaiting Hague court verdict, Filipinos hope to fish without fear of China

  10-07-2016 05:26 via news.yahoo.com
  
  By Manuel Mogato INFANTA, Philippines (Reuters) - For years, the fishermen of the sleepy Philippine town of Infanta cared little for politics, international diplomacy and centuries-old squabbles over sovereignty. China's claims are expressed on its maps as the so-called nine-dash line, an ill-defined U-shaped demarcation drawn up after the defeat of Japan in World War II. China has said it will not recognize the court's decision, but there are hopes among some Filipinos that Beijing might be pre
  
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• China healthcare costs forcing patients into crippling debt

  10-07-2016 05:16
  
  * Personal medical expenditure expected to hit $1.9 trln by
  2025
  
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• Exclusive: WellCare, Centene make offers for Aetna assets - sources

  10-07-2016 04:28
  
  (Reuters) - WellCare Health Plans Incand Centene Corphave made competing offers for the Medicare Advantage insurance plansthat Aetna Inclooks to shed in seeking clearance for its acquisition...
  
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• Japan's ruling bloc heads for hefty win in vote, but just how big?

  10-07-2016 04:20 via news.yahoo.com
  
  By Linda Sieg TOKYO (Reuters) - Prime Minister Shinzo Abe's ruling coalition looks to be headed for a comfortable victory in an election on Sunday for parliament's upper house, despite doubts about his economic policies and his goal of revising the pacifist constitution. Abe's coalition is in no danger of losing power in the election for half the 242-seat upper house, which means interest is focused on just how big a victory the ruling bloc and its allies can chalk up, including whether they get
  
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• 'Abenomics' scorecard: successes, failures

  10-07-2016 04:20 via news.yahoo.com
  TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe is casting a July 10 election as a referendum on his reflationary "Abenomics" policy and his decision to delay a sales tax hike. Here are key economic figures after Abe's Liberal Democratic Party took power late in Dec. 2012 and during the tenure of the former Democratic Party of Japan between mid-Sept. 2009 and late Dec. 2012. For graphic, please click on http://tmsnrt.rs/28Lz4ky WHAT HAS IMPROVED former-DPJ Abe's LDP (mid-Sept.2009- (late De
  
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• China June CPI up 1.9 pct y/y, more than forecast

  10-07-2016 03:40
  
  BEIJING, July 10 (Reuters) - China's consumer price
  inflation in June rose 1.9 percent from a year earlier, the
  National Bureau of Statistics said on Sunday, exceeding market
  expectations.
  
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• Deutsche Börse considers move to get LSE deal over the line

  10-07-2016 01:00
  German groups considers lowering acceptance threshold from 75% to around 60%
  
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• Kimberly-Clark halts Venezuela operations on deteriorating economy

  10-07-2016 00:14 via news.yahoo.com
  
  Personal care products maker Kimberly-Clark Corp. on Saturday said it was halting its Venezuela operations due to the deteriorating economic situation that includes soaring consumer prices and shortages of basic goods. Irving, Texas-based Kimberly-Clark, the maker of Huggies diapers and Kleenex tissues, said that over the last two months it had already halted most of its production lines. "The combination of these factors makes it impossible to continue our business at this time," Kimberly-Clark
  
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