Financial News from Reuters

Latest News

  • Qatar's sovereign wealth fund is reducing its focus on investments in Europe and placing more of its money with external managers following an internal review, sources familiar with the matter told Reuters. Qatar Investment Authority, estimated by industry tracker Sovereign Wealth Fund Institute to hold $256 billion of …

  • German industrial output is expected to increase at a faster pace this year despite weaker growth in exports, the BDI industry association said in its latest report, which was seen by Reuters on Sunday. Domestic demand has replaced foreign trade as the main support of Europe's largest economy, and the government predicts …

  • A general view of Qatar National Bank's head office building in Doha

    Qatar National Bank, the Middle East's largest lender by assets, said it had taken immediate steps to ensure customers would not suffer any financial loss after a security breach last week exposed personal data of thousands of clients.

  • FRANKFURT (Reuters) - Euro area inflation will rise only gradually but giving up the target is not an option even if the European Central Bank has a "very flexible" interpretation of its medium-term ...

  • A woman shops in a supermarket in Hangzhou

    China has rolled out a value-added tax (VAT) system across all industries that previously had a business tax, in the most ambitious overhaul of its tax regime in three decades. The government first began experimenting with a VAT in 1979 and started applying the tax to specific sectors in 2012. The final four sectors to …

  • International Energy Agency's (IEA) Executive Director Fatih Birol looks on during the World Climate Change Conference 2015 (COP21) at Le Bourget

    International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed out, providing that the health of the global economy does not pose a concern. Oil prices hit 2016 highs on Friday with Brent crude reaching $48.50 a barrel on optimism that a global oil glut will ease. A decline in non-OPEC …

  • Indeed, South Korea reported April demand from China was the worst in three months, with exports to its biggest market tumbling 18.4 percent on-year. March data had spurred hopes that the long suffering manufacturing sector was bottoming out, with growth in industrial output and profits improving.

  • British MPs have asked retail billionaire Philip Green and his wife Tina to appear before them within the next few weeks to help with inquiries into the failure of department store chain BHS and its pension liabilities. BHS went into administration on Monday, with a 571 million pound deficit in its employee pension fund, …

  • Warren Buffett talks to reporters as he tours the exhibit hall during the Berkshire Hathaway Annual Shareholders Meeting in Omaha Nebraska

    Warren Buffett said on Saturday that Berkshire Hathaway Inc is poised to do well no matter who wins the White House in November, and the billionaire investor defended the performance and tactics of the conglomerate's several large investments. Buffett presided over his 51st Berkshire annual meeting in Omaha, Nebraska, …

  • A worker stands near a stainless steel product line at a factory in Dalian

    Activity in China's manufacturing sector expanded more slowly than expected in April and marginally less than the previous month, an official survey showed on Sunday. The official Purchasing Managers' ...

  • Italy's newly-created bank rescue fund Atlante is set to own at least 92 percent of Banca Popolare di Vicenza after investors took up a fraction of the lender's 1.5 billion euro ($1.7 billion) cash call, the bank said on Saturday. In a statement Popolare di Vicenza said investors bought just 7.66 percent of its capital …

  • British lawmakers have asked retail billionaire Philip Green and his wife Tina to appear before them within the next few weeks to help with inquiries into the failure of department store chain BHS and its pension liabilities. BHS went into administration on Monday, with a 571 million pound deficit in its employee pension …

  • Warren Buffett and Charlie Munger made clear that they are no fans of embattled drugmaker Valeant Pharmaceuticals International Inc. "In my view, the business model of Valeant was enormously flawed," Buffett said at the annual Berkshire Hathaway meeting on Saturday. Buffett implied that Valeant was similar, in some respects, …

  • Warren Buffett on Saturday said the odds were "extremely high" that his Berkshire Hathaway Inc would buy back "a lot" of its stock if the price fell below 1.2 times book value, a level it recently approached. "The stock is worth significantly more than 1.2" times book value, he said.

  • Warren Buffett talks to reporters as he tours the exhibit hall during the Berkshire Hathaway Annual Shareholders Meeting in Omaha Nebraska

    Warren Buffett on Saturday defended several of Berkshire Hathaway Inc's larger or struggling investments, including Coca-Cola and the BNSF railroad. Speaking to tens of thousands of shareholders at Berkshire's annual meeting in Omaha, Nebraska, Buffett and Vice Chairman Charlie Munger also touched on many other issues …

  • More than 100 executives from Britain's financial services industry, including hedge fund managers Crispin Odey and Paul Marshall, have signed a letter backing Britain's withdrawal from the European Union, the main Brexit campaign group said on Friday. In a letter released by the Vote Leave group ahead of a June 23 referendum, …

  • A retail shop owner speaks on his mobile phone outside his closed shop shutters painted with an advertisement for Vodafone in Chennai

    SINGAPORE/HONG KONG, April 30 (Reuters) - British telecoms operator Vodafone has picked Bank of America Merrill Lynch (BofA), Kotak Investment Banking and UBS as joint global coordinators of its Indian unit's IPO, people familiar with the matter said, kicking off its long-awaited listing plan. The IPO is expected to raise …

  • Germany's finance minister Wolfgang Schaeuble has criticised the executive board of scandal-ridden carmaker Volkswagen for not waiving bonuses despite bringing the company to the brink of collapse. "I have no sympathy for managers who first drive a large blue chip-listed company into an existence-threatening crisis and …

  • Daimler hires Deloitte for internal emissions probe Reuters - Sat, Apr 30, 2016 11:34 BST
    File photo of logo of Daimler's Mercedes-Benz luxury-car division in Moscow

    Daimler has hired auditor Deloitte Touche Tohmatsu to help with an internal investigation into its diesel-engine emissions technology requested by the U.S. Department of Justice, the luxury car maker said. The investigation is to see if Daimler used devices to manipulate emissions tests and comes after another German carmaker, …

  • Africa's giant eye in the sky proving worth its SALT Reuters - Sat, Apr 30, 2016 08:35 BST

    South Africa’s SALT telescope has helped detect the first white dwarf pulsar, the latest co-discovery that has astronomers eager to use the largest optical telescope in the southern hemisphere to unlock the galaxy's secrets. Quick reaction times, as well as being significantly cheaper than similar European or American …

  • Vodafone India mandates for up to US$3 billion IPO Reuters - Sat, Apr 30, 2016 06:33 BST

    By Anuradha Subramanyan (IFR) - UK telecom giant Vodafone has mandated Bank of America Merrill Lynch, Kotak and UBS as joint global coordinators for the IPO of its Indian unit, according to two sources. ...

  • Google and Fiat Chrysler Automobiles NV are close to agreeing on a partnership that could break boundaries between Silicon Valley and the auto industry in the race to develop self-driving cars, people familiar with the discussions said on Friday. Google, a unit of Alphabet Inc, and Fiat Chrysler declined to comment. Google …

  • Facebook hit with lawsuit over plan to issue new stock Reuters - Sat, Apr 30, 2016 02:29 BST
    Facebook CEO Mark Zuckerberg holds a pair of the touch controllers for the Oculus Rift virtual reality headsets during the Facebook F8 conference in San Francisco, California

    A Facebook Inc (FB.O) shareholder filed a proposed class action lawsuit on Friday in a bid to stop the company's plan to issue new Class C stock, calling the move an unfair deal to entrench Chief Executive Mark Zuckerberg as controlling shareholder. The lawsuit, filed in the Delaware Court of Chancery, followed the social …

  • 14-year-olds Austin Stephanos and Perry Cohen are showing in this handout provided by the United States Coast Guard in Miami

    If Apple retrieves anything from the water-damaged phone that relates to the day the boys disappeared - including photos, texts and social media posts - the data will be given to a judge, who will decide if it is evidence and whether it may be shared with the families, according to a report by WPLG television in Miami. …

  • The secretive U.S. Foreign Surveillance Intelligence Court did not deny a single government request in 2015 for electronic surveillance orders granted for foreign intelligence purposes, continuing a longstanding trend, a Justice Department document showed. The court received 1,457 requests last year on behalf of the National …

  • Daniel Mullaney, Assistant United States Trade Representative for Europe and the Middle East at the Office of the United States Trade Representative, attends a conference at the European American press club in Paris

    Facing deeply entrenched differences and political headwinds, the top negotiators trying to reach a sweeping U.S.-European free trade deal avoided agriculture, public procurement and other thorny issues in talks this week. Instead, Assistant U.S. Trade Representative Daniel Mullaney and European Commission lead negotiator …

  • Traders work on the floor of the NYSE

    U.S. stocks posted their largest weekly drop in more than two months on Friday as earnings reports continued to weigh, but the S&P 500 and Dow managed to close up for April after strong showings mid-month. Company results once more gave the market direction as a 9 percent decline in Gilead Sciences (GILD.O) shares weighed …

  • Yen posts biggest weekly gain since 2008, stocks slip Reuters - Fri, Apr 29, 2016 21:22 BST
    Japanese 10,000 yen notes line up in Tokyo, in this picture illustration

    The yen hit an 18-month high on Friday as investors bet the Bank of Japan might be done adding stimulus to the economy, while stocks in Europe and on Wall Street headed lower as earnings disappointed. The yen posted its biggest weekly gain since the 2008 financial crisis, also spurred by a weak reading of U.S. economic …

  • Apple's stock suffers worst week since 2013 Reuters - Fri, Apr 29, 2016 21:16 BST
    The Apple logo is pictured behind the clock at Grand Central Terminal in the Manhattan borough of New York

    Apple Inc (AAPL.O) on Friday ended its worst week on the stock market since 2013 as worries festered about a slowdown in iPhone sales and after influential shareholder Carl Icahn revealed he sold his entire stake. Shares of Apple, a mainstay of many Wall Street portfolios and the largest component of the Standard & Poor's …

  • State Grid Corp [STGRD.UL], China Three Gorges Corp [CYTGP.UL] and Italy's Enel SpA (ENEI.MI) have placed bids for a 16 percent stake in Brazilian renewable energy company Renova Energia SA, which needs fresh capital following a failed asset sale last year, three sources with direct knowledge of the matter said on Friday. …

  • A Yahoo logo is pictured in front of a building in Rolle

    Some bidders that did not make the shortlist because their first-round offers were not specific enough are still being kept close to the process by Yahoo's advisers, the people said. One of those bidders is Liberty Media Corp (LMCA.O) Chairman John Malone, who has proposed a tax-efficient merger with one of the companies …

  • Deutsche Boerse retracts merger comment at UK request Reuters - Fri, Apr 29, 2016 20:50 BST
    Kengeter, CEO of Deutsche Boerse talks to the media during the presentation of FinTec start-up facilities provided by Deutsche Boerse in Frankfurt

    German exchange operator Deutsche Boerse (DB1Gn.DE) has retracted comments by two senior executives about its planned $30 billion(20.5 billion pounds) merger with LSE Group (LSE.L) at the request of the British takeover authority. The retractions highlight the need for the two exchanges to tread carefully while they work …

  • A female employee fills the tank of a car at a petrol station in Cairo

    Oil prices ended steady on Friday after hitting 2016 highs but finished April trading about 20 percent higher, with Brent crude having its best monthly gain in seven years. A weaker dollar and optimism that a global oil glut will ease have lifted crude futures by more than $20 a barrel since they plumbed 12-year lows below …

  • Coming off a barrage of flimsy company earnings reports that included Apple's first revenue drop in 13 years, investors will turn to April jobs data for signs of budding resilience or further weakening in the second quarter. U.S. nonfarm payrolls, unemployment and wages data are due Friday May 6, when the economy is expected …

  • A logo of Nissan Motor Co is seen on a steering wheel as a woman drives her car in Golfech, southwestern France

    Nissan Motor Co Ltd <7201.T> said on Friday it will recall 3.53 million vehicles, most in the United States, citing passenger-side air bags that may not work properly because vehicle sensors may malfunction. The Japanese automaker said this is the fourth recall since 2013 to address problems with occupant classification …

Next >>