Finance news

• Factbox: The 10 pillars of Britain's Modern Industrial Strategy

  22-01-2017 23:40 via news.yahoo.com
  
  British Prime Minister Theresa May has set out the first details of a 'Modern Industrial Strategy' designed to adapt the economy for a post-Brexit era and revitalize areas of the country left behind by a decades long decline in manufacturing. Investing in science, research and innovation – we must become a more innovative economy and do more to commercialize our world-leading science base to drive growth across the UK. 3. Upgrading infrastructure – we must upgrade our stand
  
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• UK seeks interventionist approach to drive post-Brexit industrial revival

  22-01-2017 23:38 via news.yahoo.com
  
  By William James LONDON (Reuters) - Britain will on Monday outline a new, interventionist approach to balancing its heavily services-based economy for the post-Brexit era, seeking to reinvigorate industrial production and stimulate investment in technology and R&D. Unveiling her long-awaited 'Modern Industrial Strategy', Prime Minister Theresa May will demand closer collaboration within key industries in exchange for government support on regulation, trade and research. May will ask business
  
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• Socialist rebel and ex-PM Valls head for runoff in presidential primary

  22-01-2017 21:51 via news.yahoo.com
  
  By Leigh Thomas PARIS (Reuters) - Benoit Hamon, a former Socialist education minister on the left of the party, won the first round of a vote to pick a Socialist presidential candidate on Sunday and was set to meet ex-prime minister Manuel Valls in a runoff, partial results showed. Hamon, 48, who was sacked from the government of President Francois Hollande for criticizing his economic policies, had won 35.2 percent of the vote and Valls, a pro-business Hollande loyalist in government, about 31
  
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• Foxconn CEO says investment for display plant in U.S. would exceed $7 billion

  22-01-2017 14:46 via news.yahoo.com
  
  Foxconn, the world's largest contract electronics maker, is considering setting up a display-making plant in the United States in an investment that would exceed $7 billion, company chairman and chief executive Terry Gou said on Sunday. The plans come after U.S. President Donald Trump pledged to put "America First" in his inauguration speech on Friday, prompting Gou to warn about the rise of protectionism and a trend for politics to underpin economic development. Foxconn's proposal to build a di
  
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• UK's May looks to boost technology industry as she eyes life after Brexit

  22-01-2017 12:41 via news.yahoo.com
  
  The government's plan to reshape Britain's economy to adapt to Brexit will be announced next week, Prime Minister Theresa May said on Sunday, highlighting technology as one growth sector and setting out a new technical education strategy. May has made rebalancing the heavily services-based economy one of her top priorities since coming to office last July, as a way to deal with the economic impact of Britain's exit from the European Union and re-engage with disillusioned working class voters. On
  
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• French primary vote to leave two in running for Socialist presidential nomination

  22-01-2017 10:40 via news.yahoo.com
  
  Voting got under way on Sunday to whittle down Socialist candidates for the French presidential ticket to two from seven, with ex-prime minister Manuel Valls facing an outside risk of failing to make the run-off vote in a week's time. Opinion polls suggest no Socialist has much chance of winning the presidential election itself this coming Spring, but they show the outcome of the beleaguered ruling party's primary having a potential impact on who actually does replace Francois Hollande at the El
  
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• Philippine officials to visit Beijing to discuss investment deals, ASEAN summit

  22-01-2017 10:12 via news.yahoo.com
  
  Philippine President Rodrigo Duterte is sending a cabinet-level delegation to Beijing this week to meet with China's Vice Premier Wang Yang and other top Chinese officials to discuss investment deals and his country's chairmanship of the Association of South East Asian Nations (ASEAN) this year. The Jan. 23-24 trip by Philippine officials includes Duterte's finance, budget, economic, public works and transport secretaries, according to a statement from the Department of Finance on Sunday.
  
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• MIDEAST STOCKS-Earnings drag down Saudi, tax fears continue to weigh on Egypt

  22-01-2017 10:12 via news.yahoo.com
  
  DUBAI, Jan 22 (Reuters) - Weak fourth-quarter earnings at several major Saudi Arabian companies dragged down that market on Sunday, while most other Gulf bourses were firm. Tax fears continued to weigh on Egypt. The Saudi index dropped 0.4 percent as food maker Savola plunged 6.2 percent. It swung to net loss of 964.3 million riyals ($257.2 million) in the quarter from a profit of 515.3 million riyals a year ago, and said it did not plan to pay quarterly dividends in 2017. Analysts polled by Reu
  
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• BUZZ-Saudi bank shares slide on Q4 earnings misses

  22-01-2017 09:01 via news.yahoo.com
  
  Jan 22 (Reuters) - ** Shares in nine of 12 listed Saudi banks drop after several posted fourth-quarter earnings below estimates ** Alawwal Bank falls 6.4 percent after swinging to net loss of 249.3 million riyals ($66.5 million) from year-earlier net profit of 451.3 million riyals; Alistithmar Capital and EFG Hermes had forecast profit of 330.5 million and 438.0 million riyals ** Saudi British Bank drops 3.2 percent after posting 35 percent drop in fourth-quarter net profit; Banque Saudi Fransi
  
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• Vietnam police arrest dissident for propaganda against state

  22-01-2017 05:37 via news.yahoo.com
  
  Police in Vietnam arrested a dissident on Saturday for posting anti-state material on the internet, as part of an ongoing crackdown on critics of the Southeast Asian country's Communist rulers. Tran Thi Nga, 39, was arrested in northern province Ha Nam, the province's police said on their website, adding that she had been "using the internet to spread some propaganda videos and writings that are against the government of the Social Republic of Vietnam." Several local dissidents and bloggers show
  
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• RHB Securities: Eagle High earnings to rebound

  22-01-2017 04:26 via news.yahoo.com
  
  KUALA LUMPUR: PT Eagle High Plantations’ potential earnings rise and Felda’s acquisition could be a catalyst for unlocking the Indonesian firm’s share price, said PT RHB Securities Indonesia. In a research report titled “Flying High Like An Eagle”, RHB Securities said the company’s favourable tree age profile should be a key driver for sizeable palm oil production growth in the years ahead. “The current crude palm oil price level should enable Eagle High
  
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• Chief of Taiwan's Foxconn says rise of protectionism unavoidable

  22-01-2017 04:17 via news.yahoo.com
  
  The head of Foxconn, the world's largest contract manufacturer of electronic goods and a major Apple Inc supplier, said on Sunday that the rise of protectionism is unavoidable. Terry Gou, chairman of Foxconn, formally known as Hon Hai Precision Industry Co, warned that uncertainties for this year make it tough to have a very clear analysis and outlook, but he said it was clear politics would underpin economic development.
  
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