Finance news

• Trump says U.S. interest rates must change as Fed weighs rate hike

  05-09-2016 22:04 via news.yahoo.com
  
  By Steve Holland YOUNGSTOWN, OHIO (Reuters) - Republican presidential nominee Donald Trump, who has previously accused the Federal Reserve of keeping interest rates low to help President Barack Obama, said on Monday that the U.S. central bank has created a "false economy" and that interest rates should change. "They're keeping the rates down so that everything else doesn't go down," Trump said in response to a reporter's request to address a potential rate hike by the Federal Reserve in Septembe
  
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• Trump says U.S. has a 'false economy,' interest rates must change

  05-09-2016 20:41 via news.yahoo.com
  
  Republican presidential nominee Donald Trump said on Monday that the U.S. Federal Reserve is keeping interest rates low to prevent an economic downturn and "at some point" the rates must change. "They're keeping the rates down so that everything else doesn't go down," Trump said in response to a reporter traveling on his plane who asked him to address a potential rate hike by the Federal Reserve in September. "At some point the rates are going to have to change," Trump, who was campaigning in Oh
  
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• Five things to take away from the G20 summit

  05-09-2016 20:28 via news.yahoo.com
  
  This year's most exclusive and closely-watched diplomatic party –- the G20 summit –- saw presidents and prime ministers from countries representing 85 percent of the global economy gather in the Chinese city of Hangzhou. Japan has longstanding territorial disputes of its own with China but Xi's tone with Japanese Prime Minister Shinzo Abe was warmer than previously.
  
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• Gabon opposition chief urges general strike after disputed election

  05-09-2016 19:50 via news.yahoo.com
  
  By Gerauds Wilfried Obangome LIBREVILLE (Reuters) - Gabon's opposition leader appealed on Monday for a general strike to protest what he said was a fraudulent re-election of President Ali Bongo, but few heeded his call as economic activity picked back up in the capital Libreville. Jean Ping, a former African Union Commission chairman who says he is now Gabon's leader, said in a statement that his fight was not over following deadly riots last week. "I propose to cease all activity and begin a ge
  
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• G20 economies well placed to deal with Brexit uncertainty: communique

  05-09-2016 18:49 via news.yahoo.com
  
  Leaders from the world's top economies said on Monday that Britain's vote to exit the European Union added uncertainty to the global economic outlook but G20 economies were well positioned to deal with the economic and financial fallout. In a communique wrapping up the G20 summit in the Chinese city of Hangzhou, leaders said that monetary policy alone could not lead to balanced growth, and pledged to not devalue their currencies for competitive gain.
  
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• Britain reviewing risks on financial passporting, Brexit minister says

  05-09-2016 18:43 via news.yahoo.com
  
  The British government is reviewing the risks involved with issues such as financial passporting and access to the single market after leaving the European Union, the minister in charge of negotiating Brexit said on Monday. David Davis also told parliament that given its economic difficulties, the EU would not want to punish Britain on trade as it risked hurting its own economy. "Those are issues, all of them, passporting, access to markets ... they are all issues that are being looked at and ev
  
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• US holiday keeps a lid on European markets

  05-09-2016 18:16 via news.yahoo.com
  
  European stock markets closed a tad lower Monday following mixed economic data. Trading activity was dented by the Labor Day holiday in the U.S. KEEPING SCORE: In Europe, Germany's DAX ended 0.1 percent ...
  
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• G20 warns against slide into protectionism

  05-09-2016 17:37 via news.yahoo.com
  
  The world's leading economies spoke out against a return to protectionism and defended the unfashionable concepts of free trade and globalisation Monday, warning the listless global economy needs an urgent reboot. The G20 summit took place in China as rising populist sentiment puts them under pressure to sidestep difficult commitments, and with a stumbling push for a Syria ceasefire and Asia's territorial disputes intruding on the agenda. "We have agreed... to support the multilateral trade syst
  
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• MIDEAST STOCKS-Oil rally boosts Saudi, property shares support UAE

  05-09-2016 16:12 via news.yahoo.com
  
  * Saudi petchems lead market up * Emaar, The Economic City jumps on sovereign fund interest * Property shares support Dubai, Abu Dhabi before exhibition * Dubai's volume at four-month high * Shuaa Capital surges daily limit By Celine Aswad DUBAI, Sept 5 (Reuters) - Saudi Arabia's stock market posted its biggest daily gain in four months on Monday as oil prices surged, while shares of Dubai's property developers rose before a major exhibition for the industry this week. Riyadh's stock index rose
  
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• British stocks drop but other European markets edge up

  05-09-2016 16:01 via news.yahoo.com
  
  British stocks fell on Monday, while the rest of Europe edged up, after solid economic data pushed up the pound, darkening the outlook for the country's exporters. U.S. markets are closed for the Labor ...
  
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• Angolan President fires finance minister Manuel

  05-09-2016 15:45 via news.yahoo.com
  
  Angolan President José Eduardo dos Santos fired Finance Minister Armando Manuel on Monday two months after the government of Africa's biggest oil producer broke off talks with the IMF over emergency funding. A statement said Manuel, who was appointed in 2013 and whose term had been due to run to 2017, would be replaced by capital markets commission head Augusto Archer de Sousa Hose, more commonly known as Archer Mangueira. Over the last two years, Manuel had presided over an economic slum
  
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• French truckers demanding migrant camp closure block Calais traffic

  05-09-2016 15:36 via news.yahoo.com
  
  By Matthias Blamont CALAIS, France (Reuters) - Two convoys of trucks and tractors slowed traffic to a crawl on the motorway approach to France's northern port of Calais on Monday, with protesters demanding the closure of a migrants camp they blame for mounting insecurity and an ailing local economy. Dubbed the "jungle", the squalid camp is a half-way house for thousands of migrants fleeing war, poverty and oppression who dream of reaching Britain's shores on the other side of the English channel
  
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• UK economy shows signs of recovery from Brexit vote, outlook still patchy

  05-09-2016 15:09 via news.yahoo.com
  
  By David Milliken LONDON (Reuters) - Britain's economy showed its clearest sign to date of bouncing back from the initial shock of June's vote to leave the European Union, but a big slowdown in growth and a further Bank of England rate cut remain on the cards. A closely-watched monthly gauge of Britain's giant services industry published on Monday reported a record leap in activity in August, echoing similar data released last week for the much smaller manufacturing and construction sectors. Mar
  
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• Protesters urge South Africa's Zuma, top ANC leaders to quit party posts

  05-09-2016 14:57 via news.yahoo.com
  
  By James Macharia JOHANNESBURG (Reuters) - Members of South Africa's ANC chanted slogans outside its headquarters on Monday demanding President Jacob Zuma step down in a rare public show of anger in the ruling party after its worst election performance since the end of apartheid in 1994. The demonstrators argue that Zuma, whose rule has been tainted by scandal, is responsible for the African National Congress (ANC) losing control of three major urban centers in local elections last month by mism
  
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• Protesters urge S.Africa's Zuma, top ANC leaders to quit party posts

  05-09-2016 14:38 via news.yahoo.com
  
  By James Macharia JOHANNESBURG (Reuters) - Members of South Africa's ANC chanted slogans outside its headquarters on Monday demanding President Jacob Zuma step down in a rare public show of anger in the ruling party after its worst election performance since the end of apartheid in 1994. The demonstrators argue that Zuma, whose rule has been tainted by scandal, is responsible for the African National Congress (ANC) losing control of three major urban centres in local elections last month by mism
  
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• German finance minister lauds efforts to crack down on tax evasion

  05-09-2016 14:30 via news.yahoo.com
  
  German Finance Minister Wolfgang Schaeuble on Monday said the G20 leaders agreed that the BEPS process to crack down on tax "base erosion and profit sharing" was working and further steps were needed to implement it, including in the digital economy. Schaeuble said he and U.S. Treasury Secretary Jack Lew agreed that the Apple case could have been avoided through the BEPS process.
  
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• Obama says more needs to be done to grow wages, shrink inequality

  05-09-2016 14:14 via news.yahoo.com
  
  HANGZHOU, China (Reuters) - More needs to be done to grow wages and shrink inequality in the global economy, United States President Barack Obama said on Monday, at the close of the G20 summit in the Chinese city of Hangzhou.
  
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• China's Xi says G20 will coordinate macro policies, oppose protectionism

  05-09-2016 13:23 via news.yahoo.com
  
  HANGZHOU, China (Reuters) - G20 member countries need to shift from short-term policies to mid- and long-term policies and focus on supply-side reform, Chinese President Xi Jinping said on Monday at the close of the G20 summit in the eastern Chinese city of Hangzhou. Countries agreed to oppose protectionism and stop declines in global trade, while closely coordinating macro-economic policies, Xi said. For highlights of what Xi and other leaders have said, please click:  (Reporting by Kevin
  
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• London stocks drop on strong pound

  05-09-2016 13:11 via news.yahoo.com
  
  Hong Kong (AFP) - London's stock market fell Monday on a rallying pound, while eurozone indices rose further after a pre-weekend surge triggered by well-received US jobs data.
  
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• Gabon opposition chief calls for general strike after disputed election

  05-09-2016 13:07 via news.yahoo.com
  
  LIBREVILLE (Reuters) - Gabon's opposition leader Jean Ping called on Monday for a general strike to protest against what he said was a fraudulent re-election victory by President Ali Bongo. Ping, who says he is now the leader of the Central African nation, said in a statement on his website that his fight was not over, even as calm returned to the capital following deadly riots last week. "I ask you from today onward not to use violence but to resist by blocking the country's economy," he said i
  
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• Japan, Israel upgrade relations as Arab oil influence wanes

  05-09-2016 12:24 via news.yahoo.com
  
  By Tova Cohen TEL AVIV (Reuters) - Japanese executives say they are increasingly drawn to investments in Israel as the price of oil falls and, with it, the influence Arab oil suppliers have on Japan's decision-making. Over the past two years, Japan and Israel have strengthened business ties, signing a series of economic agreements on the back of a visit by Prime Minister Shinzo Abe to Israel in 2015 and Benjamin Netanyahu's trip to Tokyo in 2014.
  
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• Prolonged political impasse in Spain a "credit negative" - Moody's

  05-09-2016 12:20
  
  LONDON, Sept 5 (Reuters) - Ratings agency Moody's said on
  Monday that prolonged political deadlock in Spain would be
  negative for the country's credit rating.
  
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• MOVES-BlueBay hires hedgie as IG fundamentals 'give way'

  05-09-2016 12:04
  
  LONDON, Sept 5 (IFR) - BlueBay Asset Management has hired a
  hedge fund founder as a portfolio manager in its
  investment-grade team.
  
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• CEE MARKETS-Currencies and stocks firm, Polish central bank seen on hold

  05-09-2016 11:40
  
  * Zloty off 7-week low, forint approaches 6-month high* Polish central bank seen holding fire, Moody's review a
  risk* Political risks grabbing attention, Romanian bonds ease* Croatian...
  
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• EMERGING MARKETS-Emerging stocks, FX sail higher after disappointing US data

  05-09-2016 11:27
  
  By Karin StroheckerLONDON, Sept 5 (Reuters) - Emerging stocks chalked up their
  biggest daily gains in eight weeks and currencies strengthened
  on Monday, lifted by a batch of recent disappointing...
  
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• CORRECTED-UPDATE 1-Italy says determined to cut debt despite growth setback

  05-09-2016 11:22
  
  CERNOBBIO, Italy, Sept 2 (Reuters) - Italy still believes it
  can cut its huge public debt this year as a proportion of
  national output, its economy minister said on Friday, when data
  confirmed the...
  
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• Lew, Schauble discuss importance of using all policy tools to support growth

  05-09-2016 11:19
  
  HANGZHOU, China, Sept 5 (Reuters) - In a meeting on Monday,
  U. S. Treasury Secretary Jack Lew and German Finance Minister
  Wolfgang Schauble discussed the importance of the G20 making
  robust use of...
  
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• GLOBAL MARKETS-Biggest jump in a month for stocks as oil boils

  05-09-2016 11:18
  
  * Weaker-than-expected jobs report gives Fed less reason to
  hike
  
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• Eurozone economy 'losing momentum' as Germany falters

  05-09-2016 10:34 via news.yahoo.com
  
  LONDON (AP) — A closely watched survey is showing that the 19-country eurozone is losing some economic momentum and that its largest economy, Germany, is at the heart of the slowdown.
  
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• UK wants gov't control over migration, not points system-PM spokeswoman

  05-09-2016 10:29
  
  HANGZHOU, China, Sept 5 (Reuters) - Britain will pursue an
  immigration system that enables the government to decide who
  enters the country and not a points-based system that gives an
  automatic right...
  
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• ECB's bond-buying options in focus as council meeting looms

  05-09-2016 10:28
  
  * ECB meets Thursday, not expected to deliver more stimulus
  Pressure to address bond scarcity eases as bond yields edge up
  
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• UPDATE 2-Germany's Vonovia to take over Conwert in 2.9 bln euro agreed deal

  05-09-2016 10:17
  
  * Conwert shares jump 7.4 percent in pre-market trade(Adds details on Conwert's portfolio, fund manager comment)
  
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• Asian shares climb on fading US rate expectations

  05-09-2016 09:19 via news.yahoo.com
  
  Asian stock markets rallied on Monday and the dollar dipped as a slowdown in US jobs creation doused expectations for an interest rate hike this month while at the same time showing the world's top economy was still improving. Before its release analysts had marked the reading as a guide to the Federal Reserve's plans for monetary policy after the bank's boss Janet Yellen -- and later her vice chairman Stanley Fischer -- suggested a rate rise could come this year. While most market-watchers sugg
  
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• Syria talks intrude as G20 tackles global economy

  05-09-2016 08:55 via news.yahoo.com
  
  G20 leaders met on Monday under pressure to reboot the world economy, but a stumbling push for a Syria ceasefire and Asia's heated territorial disputes intruded on the summit in Hangzhou. There had been hopes of a breakthrough in stemming the Syria conflict after the US said it was close to a deal with Russia. A US official said "differences remain" despite two rounds of talks between Secretary of State John Kerry and his counterpart Sergei Lavrov on the sidelines of the summit.
  
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• GLOBAL MARKETS-Asia shares rally as US job report seen dimming chance of Sept rate hike

  05-09-2016 08:36
  
  * Weaker-than-expected jobs report gives Fed less reason to
  hike
  
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• Govt warning on fees sends shares in Australian aged care operators tumbling

  05-09-2016 07:24
  
  SYDNEY, Sept 5 (Reuters) - Shares in Australia's largest
  listed aged care operators plunged to record lows on Monday
  after the country's health department warned providers they are
  not permitted to...
  
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• UPDATE 2-Hanjin takes legal steps to prevent ship seizures as more vessels blocked

  05-09-2016 07:21
  
  * Odds of successful legal action depends on
  jurisdiction-lawyers
  
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• Britain nears post-Brexit trade talks with Australia: PMs

  05-09-2016 06:43 via news.yahoo.com
  
  Britain and Australia have discussed negotiating a post-Brexit trade agreement, the two countries' leaders said Monday at the G20 summit in China, as Britain seeks to secure its economic ties before quitting the EU. "Britain's made a very momentous and historic choice to leave the European Union," Australian Prime Minister Malcolm Turnbull said as he met his new British counterpart Theresa May by Hangzhou's picturesque West Lake. In the wake of its vote to leave the European Union, Britain must
  
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• Japan's Abe tells G20 global economy downside risk increasing

  05-09-2016 06:01 via news.yahoo.com
  
  HANGZHOU, China (Reuters) - Japanese Prime Minister Shinzo Abe told the G20 summit that the downside risk to the global economic outlook is increasing, a senior Japanese government spokesman said on Monday. The summit its happening in the eastern Chinese city of Hangzhou. (Reporting by Kiyoshi Takenaka Writing by Ben Blanchard; Editing by Simon Cameron-Moore)
  
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• Asia shares up as U.S. jobs report lowers chance of Fed Sept hike

  05-09-2016 04:39 via news.yahoo.com
  
  By Lisa Twaronite TOKYO (Reuters) - Asian shares rose on Monday, getting a tailwind from gains on Wall Street after a weaker-than-expected U.S. jobs report prompted markets to trim expectations that the Federal Reserve would hike interest rates as early as this month. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.5 percent higher in early trade. Japan's Nikkei stock index surged 1 percent to three-month highs.
  
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• Australia says wants 'very strong' Britain free trade deal

  05-09-2016 04:29 via news.yahoo.com
  
  Australian Prime Minister Malcolm Turnbull said on Monday he wants to negotiate a "very strong" free trade agreement with Britain after it leaves the European Union. Britain's June decision to leave the 28-country EU sent financial markets into shock in anticipation of a recession as Britain enters a years-long process of tearing itself away from its biggest trading partner and forging a new global economic role. Britain's economy will suffer as a result of the decision despite signs in recent d
  
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• Asia shares up as U.S. jobs report lowers chance of Fed September hike

  05-09-2016 03:18 via news.yahoo.com
  
  Asian shares rose on Monday, getting a tailwind from gains on Wall Street after a weaker-than-expected U.S. jobs report prompted markets to trim expectations that the Federal Reserve would hike interest rates as early as this month. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.5 percent higher in early trade. Japan's Nikkei stock index surged 1 percent to three-month highs.
  
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• Hanjin Shipping filed for U.S. bankruptcy protection: WSJ

  05-09-2016 01:45 via news.yahoo.com
  
  SEOUL (Reuters) - Troubled container shipper Hanjin Shipping Co Ltd <117930.KS> has filed for bankruptcy in the United States to protect its vessels from being seized by creditors, the Wall Street Journal reported, citing a filing by the South Korean firm.
  
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• UK factories cut investment plans after Brexit vote - EEF

  05-09-2016 01:16 via news.yahoo.com
  
  By Andy Bruce LONDON (Reuters) - British manufacturers reined in their investment plans after the Brexit vote in June, according to a survey that showed no immediate big hit due to the referendum but may add to doubts about the long-term health of the economy. Manufacturing output worsened in the three months to August as domestic orders wilted, reversing an improvement earlier this year, industry association EEF and accountancy firm BDO said. The Bank of England, which has said it expects to cu
  
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• UN body: 'Drop the jargon when talking about green investment'

  05-09-2016 01:00
  
  Body that represents $60 trillion of assets warns funds managers' eyes "glaze over" when green acronym is used
  
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• UN body: 'Drop the jargon on green investment'

  05-09-2016 01:00
  
  Body that represents $60 trillion of assets warns funds managers' eyes 'glaze over' when green acronym is used
  
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• State Street pulls benchmarking service for council pensions

  05-09-2016 01:00
  
  Move to axe service covering 85 funds sparks fears over future access to national investment performance data
  
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• Private markets beat public equity managers over 10 years

  05-09-2016 01:00
  
  A decade's worth of performance data shows why managers such as Schroders, Aviva and Allianz are eyeing alternatives
  
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• Post-Brexit weather forecast: Overcast but little chance of a storm

  05-09-2016 01:00
  
  COMMENT: For the City, the outlook isn't as bleak as it seemed on June 24
  
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• Post-Brexit forecast: Overcast but little chance of a storm

  05-09-2016 01:00
  
  COMMENT: For the City, the outlook isn't as bleak as it seemed on June 24
  
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