Financial News from Reuters - UK Focus

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  • Vienna Airport grounds flights due to technical problems Reuters - UK Focus - 1 hour 53 minutes ago

    Vienna Airport said on Sunday it had cancelled or delayed 113 flights to or from Vienna because of problems with automated flight data transmission, leaving hundreds of passengers stranded. "Due to technical issues in transferring relevant data between the European air traffic control agency and Austrian air traffic control, …

  • Germany, Poland and France vowed on Sunday to reinvigorate the "Weimar Triangle" group first formed 25 years ago after the end of the Cold War to help deal with the many challenges now facing Europe, including Britain's vote to leave the European Union. German Foreign Minister Frank-Walter Steinmeier said the leaders of …

  • German Economy Minister Sigmar Gabriel said on Sunday that if Britain's exit from the European Union (KSE: 000910.KS - news) was badly handled and other member countries followed its lead, Europe would go "down the drain". "Brexit is bad but it won't hurt us as much economically as some fear - it's more of a psychological …

  • Two United Airlines pilots were arrested on suspicion of being under the influence of alcohol in Scotland on Saturday as they were about to fly to the United States, police and the airline said. Police Scotland said the two men, aged 35 and 45 years, were detained under a section of the Railways and Transport Safety Act …

  • German Economy Minister Sigmar Gabriel said on Sunday that if Britain's exit from the European Union (KSE: 000910.KS - news) was badly handled and other countries followed its lead, Europe would go "down the drain". "Brexit is bad but it won't hurt us as much economically as some fear - it's more of a psychological problem …

  • The head of EDF Energy has urged the British government to approve the Hinkley Point C nuclear power project, an explict appeal by the French energy giant ahead of a decision due within weeks. Prime Minister Theresa May intervened last month to delay the 18 billion pound ($24 billion) project, just hours after it was …

  • For nearly six years, young Iraqis defied the war, coming from all over the country to play in an orchestra, but the emergence of Islamic State has dashed their dream of making music to bridge deadly sectarian divides. At that point, in 2008, MacAlindin knew little about Iraq or the challenges of playing classical music …

  • * Any strike on Kurdish militia puts Turkey at odds with U.S (Other OTC: UBGXF - news) . KARKAMIS, Turkey, Aug 27 (Reuters) - Rebels supported by Turkey fought Kurdish-backed forces in northern Syria on Saturday, as Ankara ratcheted up its cross-border offensive by saying it had launched air strikes against both Kurdish …

  • Sarkozy says Britain should manage asylum seekers on its own territory Reuters - UK Focus - Sat, Aug 27, 2016 20:15 BST

    Former French President Nicolas Sarkozy, who is attempting a political comeback before next year's election, said on Saturday that Britain should open an asylum centre on its territory to deal with asylum seekers now camped in Calais. Migrants aiming to reach Britain have over the years gathered in camps called the "jungle" …

  • Syria rebels battle rival force as Turkey presses operation Reuters - UK Focus - Sat, Aug 27, 2016 15:03 BST

    Syrian rebels backed by Turkey fought fighters opposed by Ankara in northern Syria on Saturday, sources on both sides said, as a Turkish-backed operation targeting Islamic State and Kurdish influence at the border appeared to gather pace. The fighting erupted at the village of al-Amarna, some 10 km (6 miles) south of the …

  • Turkish planes destroy ammunition store in Syria - military sources Reuters - UK Focus - Sat, Aug 27, 2016 14:02 BST

    Turkish warplanes destroyed an ammunition store south of the Syrian frontier town of Jarablus on Saturday, military sources told Reuters after a group in the region allied to a Kurdish-backed force said ...

  • British PM to trigger Brexit without vote by lawmakers - Telegraph Reuters - UK Focus - Sat, Aug 27, 2016 11:13 BST

    British Prime Minister Theresa May will not hold a parliamentary vote on Brexit before formally triggering Britain's withdrawal from the European Union, The Daily Telegraph reported on Saturday, without specifying sources. May will not offer opponents the chance to stall the withdrawal and has consulted lawyers who say …

  • BP, Shell evacuating some staff from U.S. Gulf on storm threat Reuters - UK Focus - Sat, Aug 27, 2016 01:04 BST

    Oil giants BP and Royal Dutch Shell said on Friday they have started securing facilities and evacuating non-essential personnel from their drilling rigs and platforms in U.S. Gulf of Mexico as a precaution ...

  • UK's May heads for Brexit negotiations without vote by MPs - paper Reuters - UK Focus - Fri, Aug 26, 2016 23:52 BST

    British Prime Minister Theresa May will not hold a parliamentary vote on Brexit before opening discussions to formally trigger Britain's withdrawal from the European Union, the Telegraph reported on Friday. Brexit opponents maintain that since the EU referendum result is advisory, it should be passed by a vote in the House …

  • Rating firm DBRS considering European office as Brexit insurance Reuters - UK Focus - Fri, Aug 26, 2016 23:44 BST

    The credit-rating agency DBRS says it will need to open a new office in mainland Europe if Britain's vote to leave the European Union affects its business in the EU. A new office may be required to maintain an EU license, which DBRS needs to sell its services in Europe and remain one of the European Central Bank's recognised …

  • U.S. stocks closed lower in choppy trading and the U.S. dollar surged on Friday as investors grappled with the possible timing of an interest rate hike after comments from several Federal Reserve officials, including Chair Janet Yellen. Oil steadied in a volatile session and Treasury prices fell as investors across asset …

  • Fed's Yellen sees stronger case for interest rate hike Reuters - UK Focus - Fri, Aug 26, 2016 21:51 BST

    The Federal Reserve is getting closer to raising interest rates again, the head of the U.S (Other OTC: UBGXF - news) . Fed Chair Janet Yellen told a global monetary policy conference that the case for a rate increase had grown stronger, while Fed Vice Chair Stanley Fischer suggested a move could come at the central bank's …

  • Speculators pared favorable bets on the U.S. dollar for a fourth straight week, shaving net longs to their lowest in seven weeks, as investors remained uncertain on whether the Federal Reserve would raise ...

  • US STOCKS-Wall St slips in wake of comments by top Fed officials Reuters - UK Focus - Fri, Aug 26, 2016 21:30 BST

    U.S. stocks ended modestly lower after a volatile session on Friday, having bounced between gains and losses as investors wrestled with the likely timing of a U.S. interest rate hike following comments from top Federal Reserve officials. The S&P 500 rose after Fed Chair Janet Yellen said the case for raising rates had …

  • US STOCKS SNAPSHOT-Stocks mixed as traders decipher Fed talk Reuters - UK Focus - Fri, Aug 26, 2016 21:12 BST

    U.S. stocks ended mostly lower in a volatile session on Friday, bouncing between gains and losses as investors wrestled with the possible timing of a U.S. interest rate hike following comments from Federal ...

  • Venezuela says signs $5.5 bln mining deals, companies include Barrick Reuters - UK Focus - Fri, Aug 26, 2016 21:10 BST

    President Nicolas Maduro said on Friday that Venezuela had signed over $5.5 billion in mining deals with companies including Canada's Barrick Gold Corp and China's Shandong Gold. "Today we are signing investments and letters of commitment for projects for over $5.5 billion," said Maduro in a televised meeting with foreign …

  • Speculators cut long U.S. dollar bets to lowest in 7 weeks -CFTC, Reuters Reuters - UK Focus - Fri, Aug 26, 2016 20:53 BST

    Speculators pared back favorable bets on the U.S. dollar for a fourth straight week, shaving net longs to their lowest in seven weeks, as investors remained uncertain on whether the Federal Reserve would ...

  • FOREX-Dollar rebounds in volatile trade as hawkish Yellen prevails Reuters - UK Focus - Fri, Aug 26, 2016 20:21 BST

    * Yellen says case for U.S (Other OTC: UBGXF - news) . NEW YORK, Aug 26 (Reuters) - The dollar rallied to a two-week high against the yen and Swiss Franc on Friday in volatile trading as investors focused on Federal Reserve Chair Janet Yellen's comments on an improving U.S. economy that bolstered the case for an interest …

  • TREASURIES-Yields rise to one-month highs on hawkish Yellen Reuters - UK Focus - Fri, Aug 26, 2016 20:14 BST

    U.S. Treasury yields rose to more than one-month highs on Friday as investors considered whether the Federal Reserve is likely to raise interest rates at its September meeting, after hawkish but noncommittal ...

  • European stocks advanced, however, while oil steadied in a volatile session and Treasury prices fell as investors across asset classes parsed the details of Yellen's presentation, markets' central focus of the week. "The Fed served notice that a rate hike is still a possibility this year, and the markets had gotten a little …

  • Oil steady in volatile session, down 2 pct for the week Reuters - UK Focus - Fri, Aug 26, 2016 20:06 BST

    Oil prices were largely unchanged on Friday in a volatile session, as traders reacted to comments from Fed Chair Janet Yellen and reports of missile activity in Saudi Arabia. The market was taking its cues from the movement in the dollar, which has been choppy following Yellen's remarks. Prices gathered support briefly …

  • US STOCKS-Wall St falls after Fischer, Yellen comments Reuters - UK Focus - Fri, Aug 26, 2016 19:32 BST

    The S&P 500 rose as much as 0.7 percent in the wake of a speech by Yellen in Jackson Hole, Wyoming that said the case for increasing interest rates had strengthened, but did not indicate when the Fed would raise rates. Yellen told the gathering of central bankers from around the world the U.S. economy was nearing the central …

  • COLUMN-Negative rates the elephant in Yellen's speech: James Saft Reuters - UK Focus - Fri, Aug 26, 2016 19:22 BST

    Remember the phrase "negative interest rates"? Neither, it seems, does Janet Yellen. Sure, rates are negative in Japan and the euro zone. And in Denmark, Sweden and Switzerland, making it the ...

  • European stocks advanced, however, while oil steadied in a volatile session and Treasury prices fell as investors across asset classes parsed the details of Yellen's presentation, markets' central focus of the week. In her much-awaited speech at an international gathering of central bankers in Jackson Hole, Wyoming, Yellen …

  • Fed's Powell supports cautious, gradual pace of rate hikes -BBG TV Reuters - UK Focus - Fri, Aug 26, 2016 19:12 BST

    Federal Reserve should raise interest rates in a cautious and patient manner, Federal Reserve Governor Jerome Powell said on Friday. "We should be on a program of gradual rate increases," Powell said in an interview with Bloomberg Television from Jackson Hole, Wyoming, where many of the world's top central bankers have …

  • Britain's Labour party says resolves conference security stand-off Reuters - UK Focus - Fri, Aug 26, 2016 19:11 BST

    Britain's opposition Labour Party said on Friday it had found a new security company to guard its conference, avoiding an embarrassing confrontation with a union that had objected to the previous firm and threatened to picket the event. Labour, already in the throes of a divisive leadership contest, had faced a stand-off …

  • Fed's Yellen offers dose of uncertainty to markets hungry for a clue Reuters - UK Focus - Fri, Aug 26, 2016 18:46 BST

    Federal Reserve, Fed Chair Janet Yellen offered a sobering dose of uncertainty for monetary policy and the global economy on Friday, suggesting interest rates could rise faster than expected in coming months or just as easily crater back to zero. In keynote remarks to an annual policy conference in Jackson Hole, Wyoming, …

  • Fed's Yellen says case for interest rate hike has strengthened Reuters - UK Focus - Fri, Aug 26, 2016 18:37 BST

    Yellen, speaking at an international gathering of central bankers and academics in Jackson Hole, Wyoming, did not say when the U.S. central bank would raise borrowing costs, and investors remained skeptical that such a move was imminent. Yellen did not give guidance on what the central bank needs to see before raising …

  • European shares rise as Yellen keeps options open Reuters - UK Focus - Fri, Aug 26, 2016 17:53 BST

    European shares rose on Friday after Federal Reserve chair Janet Yellen gave no firm indication about when the Federal Reserve might raise interest rates, encouraging markets after hawkish comments from ...

  • TREASURIES-Prices drop after Yellen sees rate hike more likely Reuters - UK Focus - Fri, Aug 26, 2016 17:41 BST

    U.S. Treasuries prices fell on Friday as investors evaluated whether the Federal Reserve is likely to raise interest rates at its September meeting, following hawkish but still noncommittal comments by ...

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