Finance news

• At least 40 percent of Canada oil spill recovered -officials

  24-07-2016 23:00
  
  July 24 (Reuters) - Authorities have recovered at least 40
  percent of the 1,572 barrels of oil that leaked into a major
  western Canadian river, but the spill is still moving downstream
  and...
  
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• UK warns of Brexit 'shadow' on world economy

  24-07-2016 21:37 via news.yahoo.com
  
  Britain's finance minister warned Brexit would cast a "shadow" over the world economy but said he was eyeing a free trade deal with China in interviews with the BBC and Sky News on Sunday. Speaking on the sidelines of the G20 meeting of leading world economies in Chengdu, China, Philip Hammond told Sky that the vote to leave the EU was "not the only shadow the world economy faces".
  
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• Verizon to announce $5 billion deal to buy Yahoo on Monday: source

  24-07-2016 21:24
  
  (Reuters) - Verizon Communications Incwill announce an agreement on Monday to buy Yahoo Incfor about $5 billion, according to a person familiar with the matter.
  
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• UPDATE 1-Verizon to announce $5 billion deal to buy Yahoo Monday -source

  24-07-2016 21:22
  
  July 24 (Reuters) - Verizon Communications Inc will
  announce an agreement on Monday to buy Yahoo Inc for
  about $5 billion, according to a person familiar with the
  matter.
  
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• Verizon to announce $5 billion deal to buy Yahoo Monday -source

  24-07-2016 19:25
  
  July 24 (Reuters) - Verizon Communications Inc will
  announce an agreement on Monday to buy Yahoo Inc for
  about $5 billion, according to a person familiar with the
  matter.
  
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• RPT-Wall St Week Ahead-Silicon Valley leads avalanche of quarterly reports

  24-07-2016 19:00
  
  SAN FRANCISCO, July 22 (Reuters) - A quartet of technology
  heavyweights will be part of an avalanche of quarterly corporate
  earnings reports next week that, along with a meeting of Federal
  Reserve...
  
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• GM re-evaluates India investment, new car platform on hold

  24-07-2016 18:31
  
  NEW DELHI, July 24 (Reuters) - General Motors is
  re-evaluating its planned $1 billion investment in India and has
  put on hold moves to bring a new car platform to India as it
  re-assesses its strategy...
  
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• MIDEAST STOCKS-Gulf retreats as oil's fall outweighs Q2 earnings

  24-07-2016 16:40 via news.yahoo.com
  * 80 percent of Saudi shares fall * PetroRabigh slumps on Q2 profit slide * But Saudi Kayan jumps on surprise Q2 profit * Dubai's Emaar pulls back from technical resistance * Egyptian gainers might benefit from FX devaluation By Celine Aswad DUBAI, July 24 (Reuters) - Gulf stock markets declined on Sunday as sharp falls in oil prices late last week outweighed a few positive corporate earnings in Saudi Arabia. In Egypt, investors bought shares that could benefit from any currency devaluation. Riy
  
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• 888 and Rank Group join forces to bid for William Hill

  24-07-2016 16:24
  
  LONDON (Reuters) - Online gambling group 888 Holdingsand casino operator Rank Groupare joining forces with a view to making a bid for William Hill , the British bookmaker that fired its chief...
  
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• Casino group Rank in merger talks with 888: Sunday Times

  24-07-2016 13:54
  
  LONDON (Reuters) - Casino operator Rank Holdingsis in talks with online rival 888 Holdingsabout creating a 2 billion pounds($2.6 billion) gambling group, the Sunday Times reported.
  
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• Ex-Wall Street banker accused of insider tips to father faces trial

  24-07-2016 13:09 via news.yahoo.com
  
  Federal prosecutors in Manhattan are set to face off with a former Wall Street investment banker in their first insider trading trial since a U.S. appeals court curtailed their ability to pursue such cases. Jury selection is expected to begin on Monday in the case of Sean Stewart, an ex-banker at Perella Weinberg Partners and JPMorgan Chase & Co accused of supplying inside information to his father about unannounced healthcare mergers. Prosecutors say accountant Robert Stewart, the father, a
  
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• UK seeks to assuage global worries over path to Brexit

  24-07-2016 13:04 via news.yahoo.com
  
  By William Schomberg CHENGDU, China (Reuters) - Britain's new finance minister Philip Hammond, under pressure from his peers from around the world, said on Sunday there could be more clarity later this year on how the country will exit the European Union. Several nations called on Britain during weekend talks on the world economy to explain how the politically fraught Brexit process will unfold in order to avoid adding a new drag on the long and slow recovery from the financial crisis. "It's a n
  
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• Brexit is risk to global growth, says G20

  24-07-2016 12:58 via news.yahoo.com
  
  Britain's vote to leave the European Union heightens risks for the world economy, finance chiefs from the G20 group of leading countries said Sunday. The outcome of June's referendum "adds to the uncertainty in the global economy", they said in a communique after a meeting of central bankers and government officials in the Chinese city of Chengdu. The G20 cited several other factors complicating the global economic environment, among them "geopolitical conflicts, terrorism and refugee flows".
  
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• UPDATE 2-UK seeks to assuage global worries over path to Brexit

  24-07-2016 12:46
  
  * EU economics chief says don't delay too long(Adds Hammond comments, EU's Moscovici, background)
  
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• U.S. Treasury's Lew: underscored U.S. economy as source of strength at G20

  24-07-2016 12:36 via news.yahoo.com
  CHENGDU, China (Reuters) - U.S. Treasury Secretary Jack Lew said he told a meeting of policymakers from the Group of 20 economies that the United States's economy was strong and its job market was healthy.
  
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• WRAPUP 2-G20 will use "all policy tools" to lift growth as Brexit weighs

  24-07-2016 12:15
  
  * G20 acknowledges benefits of growth need to be better
  shared
  
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• Beijing slaps EU, Japan, S. Korea with steel duties

  24-07-2016 12:07 via news.yahoo.com
  
  China said Sunday it has started imposing anti-dumping tariffs on certain steel imports from the European Union, Japan and South Korea, as Beijing itself comes under fire for similar trade practices. The world's second largest economy, which makes more than half the world's steel, finds itself under attack by EU countries for allegedly flooding world markets with steel and aluminium in violation of international trade agreements. On Friday Premier Li Keqiang told a group of visiting leaders from
  
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• Terror attacks a growing economic threat: G20 ministers

  24-07-2016 11:41 via news.yahoo.com
  
  Increasingly frequent terrorist attacks are becoming a growing threat to the global economy, finance chiefs from the world's leading economies said Sunday. Earlier this month 84 people were killed in Nice when a Tunisian truck driver -- suspected to be inspired by the Islamic State jihadist group -- ploughed a 19-tonne vehicle through a holiday crowd. Kabul mourned Sunday after its deadliest attack for 15 years killed 80 people and left hundreds maimed the previous day, reigniting concern that I
  
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• Japan's finmin welcomes G20 support for FX market stability

  24-07-2016 11:23
  
  CHENGDU, China, July 24 (Reuters) - Japanese Finance
  Minister Taro Aso welcomed on Sunday that G20 finance leaders
  reaffirmed their support for currency market stability in a
  communique issued at the...
  
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• HIGHLIGHTS-G20 finance leaders discuss global economy, Brexit

  24-07-2016 11:14
  
  CHENGDU, China, July 24 (Reuters) - Finance leaders of the
  Group of G20 economies gathered in the southwestern Chinese city
  of Chengdu for a two-day meeting to discuss issues affecting the
  global...
  
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• G-20 countries pledge to protect against Brexit shock

  24-07-2016 11:10 via news.yahoo.com
  
  BEIJING (AP) — Global finance officials promised Sunday to protect the world economy from the shockwaves of Britain's European Union referendum and to boost sluggish growth.
  
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• UK's Hammond: Brexit path might be clearer later this year

  24-07-2016 10:48 via news.yahoo.com
  
  Britain's new finance minister Philip Hammond sought to address concerns among global finance chiefs about the uncertain path ahead for the country's exit from the European Union, saying there could be more clarity later this year. "We have to be ready as government, the Bank of England has to be ready as monetary authority, throughout that period to respond to any instability created by that uncertainty and to ensure that the economy continues to operate smoothly," he said. Hammond, speaking af
  
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• MIDEAST STOCKS-Gulf bourses soft as oil's fall outweighs Q2 earnings

  24-07-2016 10:44 via news.yahoo.com
  DUBAI, July 24 (Reuters) - Gulf stock markets were soft in early trade on Sunday as weaker oil prices at the end of last week outweighed a few positive corporate earnings in Saudi Arabia. Riyadh's stock index edged down 0.2 percent in the first hour. Saudi Kayan Petrochemical climbed 2.1 percent after it swung to a net profit in the second quarter of 91.02 million riyals ($24.3 million), ending a run of five straight quarterly losses and beating analysts' forecast for another loss. Alinma Bank r
  
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• UPDATE 2-Turkey keen for mention in G20 communique, but rejected

  24-07-2016 10:42
  
  CHENGDU, China, July 24 (Reuters) - Turkey wanted the final
  communique of the world's financial leaders meeting in China
  this weekend to include an endorsement of the current government
  after the...
  
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• Hammond - Brexit path might be clearer later this year

  24-07-2016 10:29 via news.yahoo.com
  
  Britain's new finance minister Philip Hammond sought to address concerns among global finance chiefs about the uncertain path ahead for the country's exit from the European Union, saying there could be more clarity later this year. "We have to be ready as government, the Bank of England has to be ready as monetary authority, throughout that period to respond to any instability created by that uncertainty and to ensure that the economy continues to operate smoothly," he said. Hammond, speaking af
  
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• Corporate raiders seek Brexit bargains in Britain

  24-07-2016 10:20 via news.yahoo.com
  
  By Pamela Barbaglia and Freya Berry LONDON (Reuters) - Overseas buyers lured by a plunge in the pound are looking to snare British companies on the cheap, ensuring a steady flow of deals since Britain voted to leave the European Union and defying expectations of an M&A drought. Almost 60 transactions totalling $34.5 billion have been struck by foreign companies for British firms since June 23, according to Thomson Reuters data, compared with 79 deals amounting to $4.3 billion in the month le
  
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• No signs yet Brexit having economic impact on Europe: Weidmann

  24-07-2016 09:53 via news.yahoo.com
  CHENGDU, China (Reuters) - There are no signs yet that economic development in Europe has been affected by Britain's decision to leave the European Union, but risks from Brexit could impact German growth down the line, Bundesbank President Jens Weidmann said on Sunday. Weidmann, speaking in China after a meeting of Group of 20 finance officials, said the group agreed that despite the Brexit vote the global economy would improve in 2016 and 2017, but he added that Brexit must not be used as an ex
  
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• IMF grants two-year $3.5 billion credit line to Morocco

  24-07-2016 09:43 via news.yahoo.com
  
  The International Monetary Fund (IMF) has granted Morocco a two-year $3.5 billion credit line for structural reforms to prompt more rapid and inclusive economic growth, Rabat's finance ministry said on Saturday. The Precautionary Liquidity Line (PLL) is meant for countries with relatively good economic policies that face balance of payments needs because of issues beyond their control. The line provides reassurance about Morocco's economic policies to foreign lenders, investors and rating agenci
  
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• BUZZ-Shares of two Saudi SABIC units diverge after Q2 earnings

  24-07-2016 09:14 via news.yahoo.com
  July 24 (Reuters) - ** Shares in two Saudi Basic Industries Corp units diverge: Saudi Kayan Petrochemical rises 3.6 percent to 7.25 riyals, Saudi Arabian Fertilizers Co (SAFCO) falls 0.4 percent to 59.25 riyals ** Kayan swung to net profit in second quarter of 91.02 million riyals ($24. ...
  
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• G20 prepared for Brexit impact: China statement

  24-07-2016 08:27 via news.yahoo.com
  CHENGDU, China (Reuters) - Members of the Group of 20 (G20) major economies have prepared actively to cope with the potential economic and financial impact of the Brexit decision but hope Britain and the European Union can actively form a close partnership, according to a statement from China. China, meanwhile, pledged to further improve its exchange rate regime and increase policy transparency and communication with the markets, said the statement issued at the end of a two-day meeting of G20 f
  
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• MIDEAST STOCKS-Saudi Kayan Q2 bullish but oil price weak

  24-07-2016 07:58 via news.yahoo.com
  DUBAI, July 24 (Reuters) - Saudi Arabia's stock market may be buoyed by strong earnings from a petrochemical company on Sunday but weak oil prices look set to limit gains, while most other Saudi earnings were in line with expectations. Saudi Kayan Petrochemical swung to a net profit in the second quarter, ending a run of five straight losses. It made a net profit of 91.02 million riyals ($24.27 million); the average estimate of three analysts polled by Reuters had been for a quarterly loss of 18
  
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• G20 nations warn of Brexit risk to global growth

  24-07-2016 07:36 via news.yahoo.com
  
  Finance ministers from the world's biggest economies warned of global uncertainty from Britain's looming departure from the European Union, as they gathered in China on Sunday. Just three months ago, G20 government representatives and central bank chiefs cited Britain's potential exit as one among many "downside risks" for the global economy. Bank of Japan governor Haruhiko Kuroda said Saturday that it was a "major" item on the agenda for the G20 finance chiefs meeting in the Chinese city of Che
  
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• Clouds gather for Turkey economy after attempted coup

  24-07-2016 06:34 via news.yahoo.com
  
  The last week alone has shown that life is not going to be easy for Turkey's economy after the coup aimed at unseating President Recep Tayyip Erdogan from power. "Turkey's ultimate fragility is the fact that it cannot afford to see the currency go where it may," Michael Harris, Turkey strategist and head of research at Renaissance Capital told AFP.
  
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• Exclusive: Tesla, SolarCity close to merger agreement

  24-07-2016 05:47
  
  (Reuters) - Tesla Motors Incand SolarCity Corphave made progress in putting together a deal that will merge the electric car maker and the solar panel installer, people familiar with the matter...
  
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• Indecisive Fed expected to again hold rates steady

  24-07-2016 03:36 via news.yahoo.com
  
  Indecision is certainly not the habit of Federal Reserve policy makers. Most observers do not expect the Federal Open Markets Committee, which sets monetary policy, to raise the crucial federal funds rate when they meet on Tuesday and Wednesday in Washington. "I think it's very plausible you'll see zero" change, said Dean Baker, co-founder of the Center for Economic and Policy Research.
  
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• China's growth sucks in more debt bucks for less bang

  24-07-2016 03:26 via news.yahoo.com
  
  As China's economy notches up another quarter of steady growth, the pace of credit creation grows ever more frantic for every extra unit of production, as inefficient state firms swallow an increasing share of lending. "The amount of debt that China has taken in the last 5-7 years is unprecedented," said Morgan Stanley's head of emerging markets, Ruchir Sharma, at a book launch in Singapore. While Beijing can take comfort that loose money and more deficit spending are averting a more painful slo
  
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• RPT-China's growth sucks in more debt bucks for less bang

  24-07-2016 03:00
  
  BEIJING, July 24 (Reuters) - As China's economy notches up
  another quarter of steady growth, the pace of credit creation
  grows ever more frantic for every extra unit of production, as
  inefficient...
  
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