Finance news

• Sun sets on Ford's Australian manufacturing business

  09-10-2016 22:31 via news.yahoo.com
  
  By Sonali Paul and Jonathan Barrett MELBOURNE/SYDNEY (Reuters) - The last Australian-made six-cylinder Ford Falcon rolled off an assembly line on Friday, marking the end of Ford's 91-year history of car-making in a country that simultaneously fell out of love with big cars and manufacturing. The end of operations - to be mirrored by GM Holden and Toyota Australia next year - coincides with a move by the famed car company to close in Japan and Indonesia, where it sees "no reasonable path to profi
  
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• Citi sells Argentinian consumer unit a day after Brazil sale

  09-10-2016 19:57
  
  (Reuters) - Citigroupagreed to sell its consumer business in Argentina to Banco Santander Riofor an undisclosed amount, a day after it sold some of its Brazilian retail banking assets to Itaú...
  
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• Ghana opposition leader attacks government economic record ahead of election

  09-10-2016 19:19 via news.yahoo.com
  
  Ghana's main opposition leader Nana Akufo-Addo launched a blistering attack on the government's economic record on Sunday as he released his party's manifesto at a mass rally ahead of an election on Dec. 7. Akufo-Addo said President John Mahama had squandered the wealth the country has amassed since it began producing oil in 2010 and is out of touch with people who have struggled economically since he came to power in 2012. "President Mahama might not recognize the suffering of the people of Gha
  
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• Fed's Fischer forsees gradual interest rate rises

  09-10-2016 17:59 via news.yahoo.com
  
  Federal Reserve vice chairman Stanley Fischer on Sunday predicted modest interest rate increases in the coming years, saying the US economy was nearing full employment. "Gradual increases in the federal funds rate will likely be sufficient to get monetary policy to a neutral stance over the next few years," he said in a speech to bankers. US interest rates are currently between 0.25 and 0.50 percent, as they have been since last December, and the Fed's Open Market Committee decided not to raise
  
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• Britain will not make firms name or list foreign workers

  09-10-2016 16:44 via news.yahoo.com
  
  Britain said it would not make companies list or name their foreign workers after an outcry from business groups and opposition politicians who said any proposal to "name and shame" employers would be divisive and discriminatory. "Let me absolutely confirm that is not going to happen, we are not going to ask companies to list or name or identify their foreign workers," defence minister Michael Fallon told BBC radio on Sunday. Any data collected from companies would be used only to get a better p
  
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• PM May to tackle old runway problem

  09-10-2016 15:00 via news.yahoo.com
  
  By Sarah Young and Kylie MacLellan LONDON (Reuters) - Prime Minister Theresa May is expected to decide where to allow new airport capacity near London this month, a long-awaited ruling that will help shape Britain's economy and trading ties following its vote to leave the European Union. May will either support plans for a new runway west of London at Heathrow, the busiest airport in both Britain and Europe, or at Gatwick to the south. At $22 billion, Heathrow would be the more expensive project
  
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• Banks ponder the meaning of life as Deutsche agonizes

  09-10-2016 13:05
  
  WASHINGTON (Reuters) - It wasn't just Deutsche Bank that was grappling with big questions about the future at the International Monetary Fund meetings in Washington last week.
  
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• BUZZ-Q3 earnings boost Saudi's Almarai

  09-10-2016 09:40 via news.yahoo.com
  
  ** Shares in Saudi Arabia's Almarai, Gulf's largest dairy company, climb 1.4 percent to 55.00 riyals ** Company reported 10 percent year-on-year increase in third-quarter net profit to 654.6 million riyals ($174.6 million) ** Five analysts polled by Reuters had forecast 627.8 million riyals ** Company cited 2.5 percent rise in sales during quarter, as well as 1.1 percent drop in cost of sales due to "continued decrease of inputs costs, better cost management and enhanced production efficiencies
  
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• Egypt military seen as expanding economic share

  09-10-2016 08:56 via news.yahoo.com
  
  As Egypt braces for austerity reforms, the military has expanded its economic role, at times helping President Abdel Fattah al-Sisi assuage the impact of rising prices on the country's poor. For decades, the military -- which produced all but one president since 1952 -- has played a key though opaque economic role, producing everything from washing machines to pasta, alongside building roads and operating gas stations. Since the arrival of Sisi, a former army chief who toppled his Islamist prede
  
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• MIDEAST STOCKS-Egypt may cheer IMF loan progress; Gulf likely subdued

  09-10-2016 07:50 via news.yahoo.com
  
  Investors in Egypt's stock market may welcome news of progress toward the country obtaining a $12 billion loan from the IMF, while bourses in the Gulf may be subdued on Sunday as investors await upcoming third-quarter corporate results. The International Monetary Fund's initial loan payment to Egypt will be about $2.5 billion, a senior IMF official said on Friday, adding that he hoped to secure board approval for the programme within the next month. IMF and Egyptian authorities are "making good
  
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• Innogy to push windfarms, electric car charging in U.S.: paper

  09-10-2016 07:19 via news.yahoo.com
  
  Innogy , Germany's largest energy group, is looking at the United States market to expand its renewable energy and electric car charging business, its chief executive told German weekly Welt am Sonntag. "We want to invest around 6.5 billion euros between 2016 and 2018," Chief Executive Peter Terium told the paper, adding that investments will include grid networks and infrastructure but also wind farms in Germany, Poland, the Netherlands and electric car charging stations in the United Stat
  
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• IMF's Lipton likes Bank of Japan policy revamp, calls for more 'arrows'

  09-10-2016 03:10 via news.yahoo.com
  
  International Monetary Fund First Deputy Managing Director David Lipton welcomed the Bank of Japan's new policy framework as a boost to its credibility, but called for more vigorous fiscal and structural policies to reflate a fragile economic recovery. Lipton also shrugged off the view that monetary policy was nearing its limit as a means to revive economies across the globe, stressing that central banks must be open to new ideas to help spur growth. "Central banks have to always be ready to do
  
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