Finance news

• German economy minister slams 'irresponsible' Deutsche Bank

  02-10-2016 23:07 via news.yahoo.com
  
  German Economy Minister Sigmar Gabriel on Sunday lashed out at Deutsche Bank's handling of its troubles, saying "irresponsible" managers had put thousands of jobs at risk. "I don't know whether to laugh or cry that the bank, which turned speculation into a business model, is now calling itself a victim of it," Gabriel told reporters, after CEO John Cryan this week blamed speculators for pushing the embattled lender's share price to a record low. Speaking to reporters on his way to Tehran for a t
  
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• Senior Italian bankers to meet Monday over sale of four banks: sources

  02-10-2016 23:06 via news.yahoo.com
  
  Italy's economy minister has called a meeting with some of the country's top bankers on Monday to discuss stalled efforts to sell four small banks that were rescued from bankruptcy last year, sources said. Bank of Italy Governor Ignazio Visco was expected to join the gathering, which comes just days after sources said the European Union had agreed to extend a Sept. 30 deadline for the sale of the troubled lenders. Il Messaggero newspaper reported at the weekend that the European Central Bank had
  
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• German minister accuses Deutsche Bank of making speculation its business

  02-10-2016 22:37 via news.yahoo.com
  
  German Economy Minister Sigmar Gabriel accused Deutsche Bank on Sunday of blaming speculators for last week's plunge in its share price when the bank had itself made speculation its business. "I did not know if I should laugh or cry that the bank that made speculation a business model is now saying it is a victim of speculators," Gabriel told reporters on a plane to Iran, which he is visiting with a business delegation. Deutsche, which is Germany's largest bank and employs around 100,000 people,
  
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• Inequality threatens fight against extreme poverty: World Bank

  02-10-2016 22:23 via news.yahoo.com
  
  Extreme poverty has been falling steadily around the world, but eliminating it by 2030 could be stymied by unequal distribution of the gains of economic growth, the World Bank said Sunday. The report said gains particularly in China, India and Indonesia have led to a dramatic reduction in global poverty. In 2013 -- the latest year with comprehensive data -- some 767 million people were living below the global poverty threshold of $1.90 per day.
  
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• Fewer people living below poverty line, inequality lingers, says World Bank

  02-10-2016 22:05 via news.yahoo.com
  
  By Sebastien Malo NEW YORK (Thomson Reuters Foundation) - The number of people living in extreme poverty has declined by more than 100 million across the world despite a sluggish global economy, the World Bank said on Sunday. The World Bank said 767 million people were living on less than $1.90 a day in 2013, its latest comprehensive data, down from 881 million people the previous year, with the strongest income rises in Asia. "It's remarkable that countries have continued to reduce poverty and
  
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• Canada finance minister to make announcement on Monday: office

  02-10-2016 21:39 via news.yahoo.com
  
  TORONTO (Reuters) - Canadian Finance Minister Bill Morneau has scheduled an announcement on Monday, his office said on Sunday, without disclosing further details. Morneau, who is traveling the country for consultations on next year's budget, will make the announcement at 11:15 a.m. (1515 GMT) in Toronto, according to a department advisory. It will be followed by a background briefing for media. On Monday, Morneau said Canadian economic growth this year was less than the government initially expe
  
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• German economy minister accuses Deutsche Bank of speculation

  02-10-2016 21:34 via news.yahoo.com
  
  German Economy Minister Sigmar Gabriel accused Deutsche Bank on Sunday of crying foul of speculators even though he said the bank had itself pushed a business model based on speculation. "I did not know if I should laugh or cry that the bank that made speculation a business model is now saying it is a victim of speculators," Gabriel told reporters on a plane to Iran, which he is visiting with a business delegation.
  
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• Iran offers hotel tax breaks in bid to boost tourism

  02-10-2016 17:13 via news.yahoo.com
  
  Iran offered up to 13 years of tax holidays to hoteliers at an international tourism summit on Sunday as it seeks to boost visitor numbers and revamp its dilapidated hotels. "All economic activities related to... tourism will enjoy 100 percent tax holidays between five to 13 years depending on the region," deputy economy minister Mohammad Khazaei told hoteliers from 18 countries who had gathered in Tehran, many from Europe. Since the lifting of international sanctions under last year's nuclear d
  
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• MIDEAST STOCKS-Saudi stocks plunge to multi-year lows on austerity

  02-10-2016 16:12 via news.yahoo.com
  
  * Lowest close for index since March 2011 * Fear of more austerity measures * U.S. Congress vote on lawsuits also hurts sentiment * Reuters poll shows fund managers turned negative * Q2 GDP data not bad but may be revised lower By Andrew Torchia DUBAI, Oct 2 (Reuters) - Saudi Arabia's stock market plunged to its lowest close since March 2011 on Sunday because of fears the government could introduce more austerity measures to curb a big budget deficit caused by low oil prices. Global stock market
  
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• Bulgaria's ruling party backs parliament speaker for presidential bid

  02-10-2016 15:24 via news.yahoo.com
  
  Bulgaria's ruling GERB party nominated on Sunday parliament speaker Tsetska Tsacheva to run for president as the Balkan country steers deals with a migrant crisis and growing tensions between Russia and the West. It is high time to have a mother and take indeed a motherly care for the people," Prime Minister and GERB's leader Boiko Borisov said upon endorsing Tsacheva. Two years after coming to office, GERB is still the most popular political faction in the EU and NATO member country, praised fo
  
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• Russian central banker says China hard landing may trigger rate rise - TASS

  02-10-2016 15:06
  
  MOSCOW, Oct 2 (Reuters) - Russian Central Bank Governor
  Elvira Nabiullina said on Sunday that a possible sharp
  deterioration of China's economy might lead to interest rates
  going up again in Russia,...
  
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• UPDATE 1-Brazil's Workers Party faces major setback in local elections

  02-10-2016 14:34
  
  BRASILIA, Oct 2 (Reuters) - Brazilians began voting on
  Sunday in the first elections since the impeachment of former
  president Dilma Rousseff - and her leftist Workers Party (PT) is
  expected to...
  
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• Brazil's Workers Party faces thrashing in local elections

  02-10-2016 06:01
  
  BRASILIA, Oct 2 (Reuters) - Brazilians vote on Sunday in the
  first elections since the impeachment of former president Dilma
  Rousseff - and her leftist Workers Party (PT) is expected to
  suffer a...
  
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• Evacuations in Caribbean as fierce Hurricane Matthew looms

  02-10-2016 04:17
  
  KINGSTON/PORT-AU-PRINCE, Oct 1 (Reuters) - Haiti has began
  evacuating residents by boat from outlying islands in
  preparation for Hurricane Matthew, the fiercest storm to cross
  the Caribbean for years...
  
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• In search of rebound, Trump ramps up attacks on Clinton

  02-10-2016 04:05 via news.yahoo.com
  
  By Steve Holland MANHEIM, Pa. (Reuters) - Republican presidential nominee Donald Trump closed out a rough week for his campaign on Saturday by escalating personal attacks on Democrat Hillary Clinton, questioning her stamina and saying she should be in prison for her handling of classified emails. After a week in which he drew wide criticism for a public feud with a former beauty queen, Trump sought to rebound with a highly negative attack on his opponent in the Nov. 8 election, with a second pre
  
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