Finance news

• Asia-Pacific leaders vow to fight protectionism

  20-11-2016 23:48 via news.yahoo.com
  
  Asia-Pacific leaders vowed Sunday to fight protectionism at the close of a summit upended by US President-elect Donald Trump's shock victory and virulent attacks on free-trade deals. "We reaffirm our commitment to keep our markets open and to fight against all forms of protectionism," said the final statement from the summit of the Asia-Pacific Economic Cooperation (APEC) group. Rising protectionism in Europe highlighted by Britain's exit from the European Union and in the United States undersco
  
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• APEC leaders say they want to fight all forms of protectionism

  20-11-2016 23:16 via news.yahoo.com
  
  Pacific rim leaders said on Sunday that they were committed to fighting "all forms of protectionism," and encouraged signatories of the TPP trade pact to continue supporting it despite fears it may not have a future in its current form. "We reaffirm our commitment to keep our markets open and to fight against all forms of protectionism," the leaders of the 21-strong Asia-Pacific Economic Cooperation (APEC) group said in a closing statement after meeting in Peru. APEC talks in Lima have been domi
  
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• The Latest: Obama chats with Russia's Putin at Peru summit

  20-11-2016 17:38 via news.yahoo.com
  
  LIMA, Peru (AP) — The Latest on President Barack Obama's final official foreign trip (all times local):
  
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• Hammond says budget options constrained by high debt

  20-11-2016 16:47 via news.yahoo.com
  
  By William Schomberg LONDON (Reuters) - Britain's first budget plan since the Brexit vote will not include a big new spending push because of "eye-wateringly" high public debt levels, but will have some help for the economy and struggling families, the country's Chancellor said. Philip Hammond, who will spell out the economic priorities of the new government on Wednesday, said on Sunday he wanted to keep some fiscal "head-room" as two years of difficult negotiations about leaving the European Un
  
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• UK's Hammond says budget options constrained by high debt

  20-11-2016 16:46 via news.yahoo.com
  
  By William Schomberg LONDON (Reuters) - Britain's first budget plan since the Brexit vote will not include a big new spending push because of "eye-wateringly" high public debt levels, but will have some help for the economy and struggling families, the country's finance minister said. Philip Hammond, who will spell out the economic priorities of the new government on Wednesday, said on Sunday he wanted to keep some fiscal "head-room" as two years of difficult negotiations about leaving the Europ
  
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• MIDEAST STOCKS-Abu Dhabi hit after bank merger talk quashed; Saudi slips but Egypt resilient

  20-11-2016 14:56 via news.yahoo.com
  
  * Abu Dhabi's UNB, ADCB, ADIB drop after denying merger rumours * Dubai's Shuaa gains as investors see upside with new acquirer * Saudi pulls back on profit taking, banks weak * Egypt resilient as foreign buyers continue to accumulate shares By Celine Aswad DUBAI, Nov 20 (Reuters) - Shares of three of Abu Dhabi's top lenders pulled back on Sunday after the banks denied they were in merger talks, while Saudi shares were hit by profit taking. Egypt's stock market gained as foreign funds continued
  
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• French conservatives choose candidate for next year's presidential election

  20-11-2016 13:21 via news.yahoo.com
  
  By Pascale Antonie and Simon Carraud PARIS (Reuters) - French voters were choosing a conservative presidential candidate on Sunday in a primary contest whose winner is seen as likely to become head of state in next spring's election. With the French left in disarray under the deeply unpopular President Francois Hollande, pollsters suggest that the center-right presidential nominee will meet and defeat the National Front's eurosceptic, anti-immigration leader Marine Le Pen in a vote next May. For
  
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• Hammond says will get UK ready for Brexit challenge

  20-11-2016 12:58 via news.yahoo.com
  
  By William Schomberg LONDON (Reuters) - Britain's first budget plan since the Brexit vote will seek to get the economy prepared for the challenges of leaving the European Union and help struggling families through tough times ahead, finance minister Philip Hammond said on Sunday.
  
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• Credit Suisse moves towards Swiss bank spin-off

  20-11-2016 12:45 via news.yahoo.com
  
  By Joshua Franklin ZURICH (Reuters) - Credit Suisse has moved more than 1 million customers into a new Swiss bank which goes live on Sunday, a step towards what could be Switzerland's biggest stock market listing in more than a decade. The creation of the new subsidiary that caters for Swiss retail, corporate, private and investment banking clients, is part of a broader shake-up of Credit Suisse under Chief Executive Tidjane Thiam to focus more on wealth management and less on volatile investmen
  
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• Austrian chancellor: Le Pen victory would hurt Europe's economy

  20-11-2016 12:33 via news.yahoo.com
  
  A French presidential victory by far-right candidate Marine le Pen would badly damage Europe's economy, Austria's Social Democrat Chancellor Christian Kern said in an interview published on Sunday. While Le Pen will likely meet a center-right rival in a run-off vote next year, Austria will elect its own president on Dec. 4, choosing between a former leader of the Greens Party and a far-right candidate in a tightly balanced contest. "If right wing demagogues take over a key state in the European
  
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• Asia-Pacific leaders defend trade against Trump tide

  20-11-2016 11:52 via news.yahoo.com
  
  Asia-Pacific leaders are expected to send a strong message in defense of free trade Sunday as they wrap up a summit that has been overshadowed by US President-elect Donald Trump's protectionism. The broad consensus at the Asia-Pacific Economic Cooperation (APEC) summit, which features some of the world's most powerful leaders on both sides of the Pacific, is that free trade is a force for good.
  
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• Asia to narrow trade focus as protectionism rises: analysts

  20-11-2016 07:29 via news.yahoo.com
  
  Fast-growing Asia-Pacific economies will strike more trade deals among themselves as opposition grows in Europe and the US to globalization, analysts say, warning the West will lose out as the dynamic region powers ahead. The most high-profile victim of recent protectionist sentiments has been a major US-led trans-Pacific deal, which is as good as dead after the shock American election victory of Donald Trump this month. The Trans Pacific-Partnership (TPP), an agreement of 12 Pacific Rim economi
  
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• Wall Street Weekahead: After initial Trump trade, politics keep stocks on edge

  20-11-2016 06:04 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - Arguing over politics is a Thanksgiving Day tradition, but Donald Trump's presidential election adds a new twist to any bickering at next week's holiday dinner table: What the new U.S. government could mean for your stock portfolio. Trump's shock victory last Tuesday sent investors scrambling to change bets predicated on a win by Hillary Clinton, leading to huge stock increases in industries including banks, biotech and construction. The Dow Jones industri
  
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• China's Xi presses Philippines, Vietnam to keep South China Sea issues bilateral

  20-11-2016 04:28 via news.yahoo.com
  
  China's President Xi Jinping, in separate meetings with the leaders of the Philippines and Vietnam, said disputes over the South China Sea should be resolved bilaterally, state media reported on Sunday. Experts say China prefers a 'divide and conquer' tactic over allowing its opponents to group together. Beijing has also repeatedly blamed the United States for stirring up trouble in the South China Sea, and opposes an arbitration tribunal's July ruling in favor of the Philippines, rejecting Chin
  
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• Japan PM Abe: way to peace treaty with Russia coming into sight

  20-11-2016 04:00 via news.yahoo.com
  
  By Kiyoshi Takenaka LIMA (Reuters) - Japanese Prime Minister Shinzo Abe said on Saturday that a way to concluding a peace treaty with Russia is "coming into sight," raising hopes for tangible progress on a decades-old territorial row at bilateral summit meetings set for mid-December in Japan. Abe, who made the comment after holding talks with Russian President Vladimir Putin on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, was quick to add, however, that progress will be
  
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• The Latest: Philippine leader lambastes US, others in West

  20-11-2016 03:05 via news.yahoo.com
  
  LIMA, Peru (AP) — The latest on the summit of the 21-nation Asia-Pacific Economic Cooperation summit in Peru (all times local):
  
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• Hammond to announce 1.3 billion pound road boost in budget

  20-11-2016 01:06 via news.yahoo.com
  
  Chancellor Phillip Hammond will this week announce 1.3 billion pounds in new spending on roads as part of his plans to bolster the economy as Britain prepares to leave the European Union, the Treasury said on Sunday. Hammond's first budget statement as chancellor of the exchequer on Wednesday will also commit to whittling down Britain's large budget deficit, but he will also carve out some flexibility to allow him to spend more and offset any sharp slowdown in the economy.
  
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• The Latest: Philippine leader looks to China-led development

  20-11-2016 00:55 via news.yahoo.com
  
  LIMA, Peru (AP) — The latest on the summit of the 21-nation Asia-Pacific Economic Cooperation summit in Peru (all times local):
  
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