Finance news

• Venezuela's Maduro orders 100-unit banknotes out of circulation

  11-12-2016 23:45 via news.yahoo.com
  
  Venezuelan President Nicolas Maduro on Sunday signed an emergency decree ordering the country's largest banknote, the 100 bolivar bill, taken out of circulation to thwart "mafias" he accused of hoarding cash in Colombia. The announcement came as the government of Venezuela -- a country in the midst of an economic crisis and crippled with the world's highest inflation -- prepares to issue new banknotes and coins in values up to 200 times the highest denomination currently available. The 100 boliv
  
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• Inflation-hit Venezuela to pull largest bill from circulation

  11-12-2016 22:22 via news.yahoo.com
  
  By Girish Gupta CARACAS (Reuters) - Venezuela, mired in an economic crisis and facing the world's highest inflation, will pull its largest bill, worth two U.S. cents on the black market, from circulation this week ahead of introducing new higher-value notes, President Nicolas Maduro said on Sunday. The surprise move, announced by Maduro during an hours-long speech, is likely to worsen a cash crunch in Venezuela. Maduro said the 100-bolivar bill will be taken out of circulation on Wednesday and V
  
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• China Great Wall, seeking IPO, enters 'new era' as a joint-stock firm

  11-12-2016 20:30
  
  BEIJING (Reuters) - China Great Wall Asset Management Co officially launched as a restructured joint-stock firm on Sunday, with an eye towards a market listing and a bigger role in tackling China's...
  
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• Iran seals $17 billion Boeing deal, close to Airbus order

  11-12-2016 20:08
  
  PARIS/DUBAI (Reuters) - Iran signed a $16.6 billion deal for 80 Boeingpassenger jets on Sunday and was said to be close to another for dozens of Airbusplanes to complete what would be the biggest...
  
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• Global leaders and laureates vow to take action to end child exploitation

  11-12-2016 17:56 via news.yahoo.com
  
  By Nita Bhalla NEW DELHI (Thomson Reuters Foundation) - Over 200 global leaders and laureates on Sunday pledged to use their voices to protect millions of exploited children across the world and take concrete action to improve their schooling, support those living in conflict and to end child labor. "We will take actions ... towards concrete efforts to ending child labor in all its forms, including the trafficking of children, and abolishing modern day slavery." The delegates included the Dalai
  
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• Major Sky shareholder to vote against Fox bid

  11-12-2016 15:36
  
  LONDON (Reuters) - A major shareholder in British pay-TV company Skywill vote against Twenty-First Century Fox's$14 billion takeover bid, the investor told Reuters on Sunday, while another said...
  
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• Russia signs Rosneft deal with Qatar, Glencore

  11-12-2016 12:37
  
  MOSCOW (Reuters) - Russian state holding company Rosneftegaz on Saturday signed a deal with the Qatar Investment Authority (QIA) and commodities trader Glencoreto sell a 19.5 percent stake in...
  
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• Market 'paradigm shift' may be under way, but more volatility likely: BIS

  11-12-2016 12:24 via news.yahoo.com
  
  Financial markets have been remarkably resilient to rising bond yields and sudden shift in outlook following last month's shock U.S. election result, but the sheer scale of uncertainties ahead means the adjustment will be "bumpy", the BIS said on Sunday. While the resilience to recent market swings following the U.S. election and Brexit vote have been welcome, investors should be braced for further bouts of extreme volatilty and "flash crash" episodes like the one that hit sterling in October, t
  
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• Egypt received inflows of $1 bln in month since currency float- c.bank

  11-12-2016 12:07 via news.yahoo.com
  
  Egypt's central bank governor Tarek Amer said on Saturday the country had received inflows of around $1 billion in the month since it floated the pound in the currency markets. "We received in portfolios until now around $1 billion in one month that we were not expecting in the first month (since the float)," he said at a conference in Cairo. Egypt has struggled to revive its economy since the 2011 uprising scared off foreign investors and tourists, key sources of foreign currency.
  
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• S. Korea vows to keep economy 'strong and stable' after Park ouster

  11-12-2016 09:01 via news.yahoo.com
  
  South Korea's finance minister vowed Sunday to keep Asia's fourth-largest economy "strong and stable" after a decision by lawmakers to impeach President Park Geun-Hye threatened to hurt growth. Yoo Il-Ho's comments came after parliament voted Friday to impeach Park, stripping away her executive powers over an influence-peddling scandal and opening up a new period of uncertainty for the country. "The Korean government is mindful of the severity of the current situation," Yoo told foreign reporter
  
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• Intesa, syndicate to provide 7 billion euros for Rosneft deal: source

  11-12-2016 08:44
  
  MOSCOW (Reuters) - Italy's Intesaand a syndicate of banks are to provide Qatar and commodities trader Glencorewith 7 billion euros of financing to buy a 19.5 percent stake in Rosneft , a Rosneft...
  
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• South Korea says Park impeachment could worsen sentiment

  11-12-2016 07:12 via news.yahoo.com
  
  South Korea's finance minister said on Sunday parliament's vote to impeach President Park Geun-hye could hamper economic growth if sentiment was undermined. Minister Yoo Il-ho said the current economic situation was very different from the circumstances Asia's fourth-largest economy saw during the 2008-2009 global financial crisis, but it had scope to further burden growth. "Amid so much global uncertainty, this political situation is further weighing on the economy and a downturn in sentiment c
  
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• China faces battle over market economy status

  11-12-2016 06:49 via news.yahoo.com
  
  China's battle for recognition as a market economy that would help it avoid penalties from key trade partners has been thwarted, as a key clause in Beijing's deal to join the WTO expires Sunday. As China marks the 15th anniversary of its accession to the WTO, the United States, European Union and Japan are maintaining tough rules that protect them from cheap Chinese products flooding their markets. An outraged Beijing said the failure of its major trade partners to grant China market economy sta
  
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• For SEC, making Wall Street admit guilt easier said than done

  11-12-2016 03:43 via news.yahoo.com
  
  WASHINGTON: Three years ago, the new chief of the main US financial markets regulator warned Wall Street the kid gloves were coming off. Fabled former federal prosecutor Mary Jo White, who took charge of the Securities and Exchange Commission in 2013, said the worst offenders would have to confess to wrongdoing in order to reach settlements with her agency. For four decades, banks, investment funds, major corporations and financiers who cheated investors, paid bribes or destabilized markets thro
  
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• Ghana's next leader under pressure to deliver for impatient voters

  11-12-2016 02:00
  
  ACCRA, Dec 11 (Reuters) - Ghana's President-elect Nana
  Akufo-Addo needs to act fast to deliver on his campaign promise
  to create jobs, restore rapid growth, build a dam in every
  village and a factory...
  
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