Financial News from Reuters

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  • French EDF (EDF.PA) has not put the investment decision for its plan to build two nuclear reactors in Hinkley Point, Britain, on the agenda for its board meeting on Monday, a source familiar with the situation told Reuters. EDF CEO Jean-Bernard Levy said in October EDF would decide on the UK project "soon", but has let …

  • Thousands of people and lion mascots swarmed the weekend opening of a "Make in India" drive to attract foreign direct investment, pitched by Prime Minister Narendra Modi as "the biggest brand that India has ever created". The week-long event, the boldest since Modi launched the initiative to emulate China's export miracle …

  • Logo of German carmaker Volkswagen is seen on a VW Golf GTI car at a showroom of AMAG in Duebendorf

    A high-ranking employee warned senior Volkswagen (VOWG_p.DE) managers in May 2014 that U.S. regulators might examine car engine software as part of an investigation into pollution levels, two sources familiar with the matter said on Sunday. The warning came in the form of a letter, which was sent more than a year before …

  • The mood inside the Organization of the Petroleum Exporting Countries (OPEC) is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout, Nigeria's oil minister told Reuters. Oil prices have slumped by more than 70 percent to near $30 a barrel over the past 18 …

  • The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar

    SINGAPORE/LONDON (Reuters) - Three liquefied natural gas (LNG) traders at Asia's biggest commodity trade house, Noble Group Ltd (NOBG.SI), including two co-heads of the team, are leaving to join rival trader Glencore (GLEN.L), sources familiar with the matter told Reuters. Noble and Glencore declined to comment. The sources …

  • Britain's BP (BP.L) and partner Oman Oil signed an agreement on Sunday to develop a second phase of the Khazzan natural gas field, taking the estimated investment in the project to $16 billion (11.03 billion pounds), the company said. The agreement with the government of Oman will add more than 1,000 square kilometres …

  • The logo of Carrefour is seen at the entrance of the Carrefour's Bercy hypermarket in Charenton Le Pont, near Paris

    French retailer Carrefour (CARR.PA) has had its offices searched as part of an investigation into its commercial practices, the company said on Sunday, two days after the government warned companies against squeezing further price cuts from farmers. Carrefour said in a statement that its offices in Massy, south of Paris, …

  • The Cisco Systems logo is seen as part of a display at the Microsoft Ignite technology conference in Chicago

    Networking giant Cisco Systems Inc reported it is weathering a global slowdown in information-technology spending, but signs potential customers are putting some projects on hold exacerbated concerns about broader IT growth. Cisco shares rose 10 percent on Thursday, bucking the overall market after it set a profit target …

  • The Federal Reserve's rate path "dot plot" has become increasingly detached from financial markets' interest-rate projections and risks sending an overly hawkish message that may undermine the central bank's credibility. Despite falling inflation expectations and turmoil in financial markets this week as concerns about …

  • The Federal Reserve's rate path "dot plot" has become increasingly detached from financial markets' interest-rate projections and risks sending an overly hawkish message that may undermine the central bank's credibility. Despite falling inflation expectations and turmoil in financial markets this week as concerns about …

  • A deal for French telecoms group Orange (ORAN.PA) to take over its rival Bouygues (BOUY.PA) is imminent and a preliminary agreement could be presented on Tuesday when Orange publishes its 2015 earnings, French weekly le Journal du Dimanche (JDD) reported on Sunday. JDD said Orange was in intense talks with the two other …

  • Ireland's Finance Minister Noonan attends an interview with Reuters at his office in central Dublin

    The Irish government would aim to sell 50 percent of Allied Irish Banks (ALBK.I) by 2020 if re-elected later this month, Finance Minister Michael Noonan said on Sunday. Noonan said the government's current plan to sell 25 percent of the bank would probably go ahead in the autumn if the government wins the election on Feb. …

  • Record plane orders placed by ambitious Southeast Asian airlines could be at risk in an environment of intense competition, low profitability and turmoil in financial markets, the head of the International Air Transport Association (IATA) said on Sunday. "The budget carriers have captured a lot of market share but one …

  • MANILA/SINGAPORE (Reuters) - Philippine Airlines Inc (PAL) is close to announcing a deal to secure about half a dozen wide-body Airbus (AIR.PA) jets to serve U.S. and Europe long-haul flights, several people familiar with the matter said. The deal for Airbus A350-900 jets, likely to be announced at this week's Singapore …

  • German Transport Minister Dobrindt speaks on a mobile phone before the weekly cabinet meeting at the Chancellery in Berlin

    Germany wants to carry out unannounced emissions tests on all carmakers, Transport Minister Alexander Dobrindt said on Sunday, aiming to reinstate confidence in the industry that was shattered by the Volkswagen (VOWG_p.DE) cheating scandal. It would also call on the government to present plans to encourage motorists to …

  • British defence company BAE Systems (BAES.L) has picked former oil industry executive Charles Woodburn as heir apparent to Chief Executive Ian King, a source close to the situation said on Sunday. Woodburn, who has worked at oilfield services company Schlumberger (SLB.N) and is currently chief executive at private equity-backed …

  • Investors are being tempted by the mineral riches of Iran, which has opened for business after the lifting of sanctions as part of a nuclear deal. The country has 68 different minerals with reserves totalling 43 billion tonnes worth an estimated $700 billion, according to Iran's state-owned mines and metal holding company …

  • Iran's rich deposits of zinc, copper, gold and other minerals are tempting international investors after the lifting of Western sanctions, but development of the sector will take time and problems will have to be overcome. Iran, which boasts one of the world's largest undeveloped zinc projects and myriad other mines, …

  • A labourer works at a steel market in Shanghai

    China's commerce ministry has expressed its concern over European Union's anti-dumping investigations into Chinese steel products and said that trade frictions should be solved through dialogue. The European Union on Friday launched investigations into whether Chinese seamless pipes, heavy plates and hot-rolled flat steel …

  • Dwindling job security, heavier workloads, regulatory upheaval and the poor public image of the banking sector are taking a toll on the mental health of Britain's bank workers. Eight years after the global financial crisis, stress in the industry has pushed up demand for insurance to protect revenues against the cost of …

  • Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration, in Beijing

    Now that markets have delivered their verdict on inflation - it's not picking up any time soon - economic data due next week will show whether price pressures are rising meaningfully or falling back in some of the world's major economies. A global rout in stock markets, currencies, commodities and bond yields has so far …

  • Dwindling job security, heavier workloads, regulatory upheaval and the poor public image of the banking sector are taking a toll on the mental health of Britain's bank workers. Eight years after the global financial crisis, stress in the industry has pushed up demand for insurance to protect revenues against the cost of …

  • China's national flag is seen in front of a poster explaining the design of new 100 yuan banknote at a branch of a commercial bank at a business district in Beijing

    China's Ministry of Public Security has launched a website to help probe Ezubao, the country's biggest online peer-to-peer (P2P) lender, which is accused of defrauding 900,000 investors of more than 50 billion yuan ($7.61 billion). Executives at Ezubao's parent company admitted in comments carried by official news agency …

  • Aerospace leaders gathering for this week's Singapore Airshow face conflicting pressures as they juggle growing concerns over jetliner demand while keeping record production plans on track. Worries about the effects of a faltering global economy and tensions in the South China Sea overshadow the two-yearly event in Singapore, …

  • China will speed up the launch of large-scale, strategic construction projects this year and aim to make local governments more accountable for investment, the country's state planning agency said on Sunday. In a notice posted on its website (www.ndrc.gov.cn), the National Development and Reform Commission said the investment …

  • Greek PM Tsipras looks on during a meeting with Mayor of Piraeus Moralis at his office at the Maximos Mansion in Athens

    Greek Prime Minister Alexis Tsipras said on Saturday that differences between the country's international lenders over its pension reform plans are delaying the first review of its latest financial bailout. The government has faced widespread protests over its reform plans however, as austerity-weary Greeks push back against …

  • Slovak PM says negative bond yields should spur borrowing Reuters - Sat, Feb 13, 2016 17:44 GMT

    Slovakia should take advantage of negative yields on its sovereign debt to invest in major public infrastructure projects, Prime Minister Robert Fico said on Saturday as campaigning for next month's general election heats up. Yields in primary auctions of short-dated Slovak government bonds and secondary market yields …

  • Dijsselbloem rejects calls for looser banking rules Reuters - Sat, Feb 13, 2016 14:00 GMT

    Eurogroup chairman Jeroen Dijsselbloem rejected calls for banking union regulations to be loosened after weeks of falling bank shares, saying new European bail-in rules had caused investors to look "more critically" at risks born by banks. Speaking on Dutch radio on Saturday, Dijsselbloem, who is also the Dutch finance …

  • BEIJING (Reuters) - China's retail sales grew 11.2 percent during the week-long Lunar New Year vacation compared with the same holiday period last year, Ministry of Commerce data showed on Saturday. Revenues ...

  • Indian Prime Minister Manmohan Singh walks into room to deliver his speech at hotel in Tokyo

    India's former prime minister Manmohan Singh criticised his successor Narendra Modi's government in a rare interview, saying it has failed to capitalise on lower commodity prices to propel growth and is inconsistent in its policy towards neighbouring Pakistan. Speaking to the India Today magazine, Singh said Modi's government …

  • Iranian worker walks at a unit of of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf

    Iran will load 4 million barrels of crude oil on tankers destined for Europe in the coming 24 hours, a senior official was quoted as saying on Saturday, including 2 million barrels to be bought by France's Total (TOTF.PA). "In the coming 24 hours, 4 million barrels of crude oil will be loaded onto 3 tankers destined for …

  • Europe's financial market turmoil could delay a rise in inflation even further and banks will need to be fixed with forceful action over time, European Central Bank Executive Board member Benoit Coeure told a German newspaper on Saturday. The euro area inflation outlook is already weighed down by sharply lower oil prices …

  • MOSCOW (Reuters) - The privatisation of Russia's VTB bank (VTBR.MM) will take place when market conditions become "suitable", the bank's Chief Executive Officer Andrei Kostin, said on Saturday. ...

  • Fuel prices are seen along with the last purchase of the fuel at Sakhir Filling Station during early hours in Sakhir, south of Manama

    Kuwait Petroleum International (KPI) said on Saturday oil prices could reach a range of $50 to $60 a barrel by mid-2017, the official state news agency reported. The agency quoted the company's top executive Bakheet al-Rashidi as saying prices could reach the range of $60 to $80 a barrel in three years' time. "The global …

  • Bank of Baroda posts Q3 loss as bad loans surge Reuters - Sat, Feb 13, 2016 08:32 GMT
    Commuters walk past an advertisement of Bank of Baroda at a busy street in New Delhi

    Bank of Baroda swung to a quarterly loss and joined its state-run peers in posting sharply higher bad loan provisions, as part of a central bank drive to clean up sour debts in the banking industry. Bank of Baroda's earnings came a day after State Bank of India, the nation's top lender by assets, reported its biggest fall …

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