Finance news

• Fillon, the Margaret Thatcher admirer in France's presidential race

  27-11-2016 22:12 via news.yahoo.com
  
  By Brian Love PARIS (Reuters) - Francois Fillon, center-right candidate in France's presidential election as of Sunday and pollsters' favorite to win that vote next May, is a true social and economic conservative who wants to cut half a million public sector jobs. Behind still-boyish looks and a mild, refined demeanor, the 62-year-old who won his Les Republicains party primaries, says he will slash the cost of government. An admirer of late British Prime Minister Margaret Thatcher, Fillon, who h
  
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• France's far-right says Fillon 'great candidate' to face in presidential election

  27-11-2016 21:44 via news.yahoo.com
  
  Francois Fillon's wide-reaching plans to slash public spending and overhaul the French economy would "trigger chaos", a top official of the far-right National Front said, welcoming him as an opponent because of their sharp differences on that issue. Fillon on Sunday became the center-right's nominee for next year's presidential election after winning a primary vote. Under the leadership of Marine Le Pen, who took over from her father Jean-Marie in 2011, the National Front has switched from an ec
  
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• Australia’s Telstra failing to plug earnings hole with myriad of investments

  27-11-2016 21:26 via news.yahoo.com
  
  By Tom Westbrook SYDNEY (Reuters) - The ability of Australian telecoms company Telstra Corporation to offset the fall in its traditional revenue streams by diversifying into a range of technology and other businesses is in doubt. Lumped together with the company's underperforming media department, the entire gamut of these operations – which include a range of technology businesses from cloud computing to app delivery specialists - contributed just A$908 million, or 3.4 percent of Telstra'
  
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• Brazil to pursue satellite, nuclear sub projects despite downturn: minister

  27-11-2016 18:02 via news.yahoo.com
  
  Brasília (AFP) - Ambitious projects such as satellites that could bring the internet to the remote Amazon and construction of Brazil's first nuclear submarine will proceed despite a deep economic downturn, the defense minister told AFP. Raul Jungmann said he will be in France this Thursday to take delivery of the first of three communications and defense satellites built by France's Thales and due for launching on March 21 next year. The nearly six tonne, 2.1 billion reais ($617 million)
  
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• Brazil's Temer vows to block amnesty for election crimes

  27-11-2016 16:20 via news.yahoo.com
  
  By Lisandra Paraguassu BRASILIA (Reuters) - President Michel Temer said on Sunday that he and leaders of Brazil's Congress will not allow an amnesty for election slush funds sought by some lawmakers to avoid prosecution for receiving graft money. Temer called a news conference to staunch a deepening crisis over new corruption allegations against members of his government that are causing new political uncertainty that is delaying economic recovery from a severe recession. "We agreed there will n
  
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• Libya won't take part in any OPEC cuts for 'foreseeable future'

  27-11-2016 10:56 via news.yahoo.com
  
  Libya's National Oil Corporation (NOC) said on Sunday it would not take part in any OPEC production cuts for the "foreseeable future" as the North African country tries to bring crude output back towards pre-conflict levels. "Libya is in such a dangerous economic situation, there is no way it can participate in OPEC production cuts for the foreseeable future," NOC Chairman Mustafa Sanalla told delegates at the Arab-Austrian Economic Forum in Vienna on Friday, according to an NOC statement. Libya
  
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• India's rural economy hit hard as informal lending breaks down

  27-11-2016 09:19 via news.yahoo.com
  
  By Suvashree Choudhury and Rajendra Jadhav MUMBAI (Reuters) - Life was good for Mitharam Patil, a wealthy money lender from a small village in the Indian state of Maharashtra. Small-time financiers like Patil would typically lend cash to farmers and traders every day, providing a vital source of funding for a rural economy largely shut out of the banking sector, albeit at interest rates of about 24 percent. All that came crashing down on Nov. 8, when Prime Minister Narendra Modi banned 500 and 1
  
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• Surging homeowner loans in China raise alarms over debt

  27-11-2016 05:42 via news.yahoo.com
  
  Chinese household debt has risen at an "alarming" pace as property values have soared, analysts say, raising the risk that a real estate downturn could send shockwaves through the world's second largest economy. China is seeking to restructure its economy to make the spending power of its nearly 1.4 billion people a key driver for growth, instead of massive government investment and cheap exports.
  
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• Will Modi's India cash ban plan backfire?

  27-11-2016 04:21 via news.yahoo.com
  
  Prime Minister Narendra Modi's shock decision to scrap most of India's currency was hailed by some as a masterstroke against endemic corruption, but signs are emerging that it may hit the economy hard. India runs largely on cash, but that is still in short supply, nearly three weeks after Modi's shock announcement that 86 percent of its currency would be withdrawn from circulation. On Thursday former prime minister Manmohan Singh, a respected economist, told parliament the surprise decision woul
  
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• France votes for center-right candidate - and perhaps next president

  27-11-2016 01:05 via news.yahoo.com
  
  By Richard Lough and Sudip Kar-Gupta PARIS (Reuters) - Former prime ministers Francois Fillon and Alain Juppe go head-to-head on Sunday in a runoff vote for France's center-right presidential nomination, with the winner likely to face a showdown against a resurgent far-right in next year's election. A 62-year-old racing car enthusiast who lives in a Loire valley chateau, Fillon promises radical reforms to France's regulation-encumbered economy, vowing to roll back the state and slash government'
  
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