Financial News from Reuters

  • Anti-Trump rallies crop up again on 'Not My President's Day' Reuters - 12 minutes ago

    NEW YORK/CHICAGO, Feb 20 (Reuters) - Renewed protests against U.S. President Donald Trump flared on the Presidents Day holiday on Monday, with grassroots activists vowing to take to the streets in dozens of cities in "Not My President's Day" rallies. Protest leaders had said they expected thousands to rally in about 28 cities ranging from Los Angeles and Chicago to Grand Rapids, Michigan, in the latest round of demonstrations to express displeasure with Trump's policies and pronouncements. In New York, hundreds of protesters stretching at least eight blocks chanted "He cheats, he lies, open up your eyes" near the Trump International Hotel on the edge of Central Park.

  • South Africa's Gordhan sees difficult political year for ruling ANC Reuters - 14 minutes ago

    South African Finance Minister Pravin Gordhan said on Monday he sees a "difficult political year" for the ruling African National Congress (ANC) but that he saw "green shoots" of economic growth. The ANC has a major policy conference at the end of June and late in the year will pick a new party leader to replace President Jacob Zuma as its candidate when his second term ends in 2019.

  • Trump names general as new national security adviser Reuters - 21 minutes ago

    WEST PALM BEACH, Fla./WASHINGTON, Feb 20 (Reuters) - U.S. President Donald Trump said on Monday that Lieutenant General Herbert Raymond McMaster would be his new national security adviser, again turning to the U.S. military to play a central role on his foreign policy team. Trump also named Keith Kellogg, a retired U.S. Army General who has been serving as the acting national security adviser, as chief of staff to the National Security Council.

  • Mexico's president asks cenbank chief Carstens to stay until Nov-source Reuters - 22 minutes ago

    Mexican President Enrique Pena Nieto has asked outgoing central bank chief Agustin Carstens to stay at his post until November, according to a spokesman at the president's office. Journalist Jose Yuste ...

  • GE says it sells 82 turbines to wind power complex in Brazil Reuters - 23 minutes ago

    Heavy machines maker General Electric Co agreed to supply 82 turbines to Brazil's CER , which is building a wind power complex in the country, GE's Latin America head for wind power, Jean-Claude Robert, ...

  • South Africa's Gordhan sees difficult political year for ruling ANC Reuters - 37 minutes ago

    South Africa Finance Minister Pravin Gordhan said on Monday that among the challenges the country faced was a "difficult political year" for the ruling African National Congress but that he saw ...

  • Collapse of Kraft-Unilever tie-up extends run of failed mega-deals Reuters - 55 minutes ago

    Kraft Heinz's (KHC.O) dropped bid to buy Unilever (ULVR.L) is the third-largest M&A deal to collapse, according to Thomson Reuters data, adding to a recent run of failures that highlights the appetite for the pursuit of audacious mega-mergers. The abrupt U-turn by U.S. foods giant Kraft at the weekend pushed the value of deals withdrawn this year to $205.2 billion, compared with $53.6 billion at the same point in 2016.

  • UK PM May's office was not involved in Kraft withdrawing Unilever offer: spokesman Reuters - 55 minutes ago

    British Prime Minister Theresa May's office was not involved in Kraft Heinz's (KHC.O) decision to withdraw its $143 billion bid for Unilever (ULVR.L), her spokesman said on Monday. On Sunday, the Financial Times reported that May, who previously criticized Kraft's 2010 acquisition of another British firm, had ordered officials to examine the proposed deal and whether it merited government intervention. "I think the issue of the withdrawal from the Unilever deal by Kraft is an issue you should put to Kraft.

  • Greece, lenders agree to work out new reforms to unblock aid Reuters - 59 minutes ago
    Greece, lenders agree to work out new reforms to unblock aid

    Greece and its international lenders agreed on Monday to let teams of experts work out new reforms to Greek pensions, income tax and labor market that would allow Athens to eventually qualify for more cheap loans, euro zone officials said. Greece needs a new tranche of financial aid under its 86 billion euro bailout by the third quarter of the year to meet debt repayments, but the last mission to Athens broke down in acrimony late last year. Experts from the European Commission, the European Central Bank, the euro zone bailout fund ESM and the International Monetary Fund are to travel to Athens very soon, the head of euro zone finance ministers Jeroen Dijsselbloem said.

  • Collapse of Kraft-Unilever tie-up extends run of failed mega-deals Reuters - 59 minutes ago

    Kraft Heinz's dropped bid to buy Unilever is the third-largest M&A deal to collapse, according to Thomson Reuters data, adding to a recent run of failures that highlights the appetite for the pursuit of audacious mega-mergers. The abrupt U-turn by U.S. foods giant Kraft at the weekend pushed the value of deals withdrawn this year to $205.2 billion, compared with $53.6 billion at the same point in 2016.

  • Greece, lenders agree to work out new reforms to unblock aid Reuters - 1 hour 0 minutes ago

    Greece and its international lenders agreed on Monday to let teams of experts work out new reforms to Greek pensions, income tax and labour market that would allow Athens to eventually qualify for more cheap loans, euro zone officials said. Greece needs a new tranche of financial aid under its 86 billion euro bailout by the third quarter of the year to meet debt repayments, but the last mission to Athens broke down in acrimony late last year. Experts from the European Commission, the European Central Bank, the euro zone bailout fund ESM and the International Monetary Fund are to travel to Athens very soon, the head of euro zone finance ministers Jeroen Dijsselbloem said.

  • COLUMN-America is not the stock market and neither are you: James Saft Reuters - 1 hour 10 minutes ago

    1 - People who own stocks would have more cash if they sold today. Almost every other claim citing rising stock prices as evidence of the health of the nation, economy or people is a partisan confection of conflation and misdirection. It is no more true to say today that the new heights of the stock market are a verdict in support of Donald Trump, as he argues, than it was several months ago to imply they confirm the policies of Barack Obama, as he did in his exit apologias.

  • Russia's U.N. envoy Churkin dies suddenly in New York Reuters - 1 hour 14 minutes ago

    Russia's combative ambassador to the United Nations, Vitaly Churkin, died suddenly in New York on Monday after being taken ill at work, the Russian Foreign Ministry said. The ministry gave no details on the circumstances of his death but offered condolences to his relatives and said the diplomat had died one day before his 65th birthday.

  • Saudi favors New York for Aramco IPO, also considers Toronto, London -WSJ Reuters - 1 hour 28 minutes ago

    Saudi Arabia is favoring New York to list state oil giant Saudi Aramco (IPO-ARMO.SE), while also considering London and Toronto for the prospect of floating the firm, the Wall Street Journal reported on Monday. Saudi officials also talked to exchanges in Singapore, Hong Kong, Tokyo and Shanghai but are unlikely to pursue listing in those places, the newspaper said, citing people familiar with the matter. The listing is the centerpiece of a Saudi Arabian government plan to transform the kingdom by enticing investment and diversifying the economy away from a reliance on oil.

  • Mexico deputy cenbank governor says inflation in focus on policy moves -BBG Reuters - 1 hour 34 minutes ago

    Mexico's central bank will focus on risks to inflation as well as economic growth when deciding further monetary policy moves, Deputy Governor Alejandro Diaz de Leon said on Monday. "Our main job is to maintain inflation expectations well anchored," Diaz de Leon said in an interview with Bloomberg TV, as he noted that the central bank raised rates earlier this month to prevent a weak peso and a recent gasoline price hike from hitting inflation expectations.

  • At least 5 killed in protests over Guinea teachers' strike Reuters - 1 hour 37 minutes ago

    At least five people were killed in Guinea's capital of Conakry on Monday in protests sparked by a teacher's strike, the government said, reviving labour tensions in a country where previous strikes have led to dozens of deaths. Government spokesman Damantang Albert Camara later told Reuters that a deal to end the strike was signed with Guinea's main teachers' unions on Monday evening. The unions had launched the strike on Feb. 1 to protest the government's decision to dismiss or cut the salaries of many junior teachers after the latest civil service exams, and many of their students had taken to the streets in recent days to support them.

  • Trump opponents protest outside UK parliament as lawmakers debate planned visit Reuters - 1 hour 49 minutes ago

    Thousands of Donald Trump's opponents gathered outside the British parliament on Monday to protest against a planned state visit while lawmakers debated whether the new U.S. president should be given a lavish meeting with Queen Elizabeth. Britain invited Trump to visit later this year as Prime Minister Theresa May's government seeks to reaffirm the so called "special relationship" with the United States and secure a trade deal as it prepares to leave the European Union. The planned visit, announced just hours before Trump signed a controversial executive order on immigration, has crystallised opposition in Britain, spurring 1.8 million people to sign a petition saying he should not be afforded the honour of a state visit because it could embarrass the Queen.

  • At least 5 killed in protests over Guinea teachers' strike Reuters - 1 hour 56 minutes ago

    At least five people were killed in Guinea's capital of Conakry on Monday in protests sparked by a teacher's strike, the government said, reviving labour tensions in a country where previous strikes have led to dozens of deaths. Guinea's main teachers' unions launched the strike on Feb. 1 to protest the government's decision to dismiss or cut the salaries of many junior teachers after the latest civil service exams, and many of their students have taken to the streets in recent days to support them. Beginning early Monday morning, unidentified assailants attacked a police station and demonstrators clashed with gendarmes in several districts of Conakry, witnesses said.

  • Trump weighs security adviser options; Pence 'disappointed' by Flynn Reuters - 2 hours 14 minutes ago

    WEST PALM BEACH, Fla./BRUSSELS, Feb 20 (Reuters) - U.S. President Donald Trump considered his options for a new national security adviser on Monday as his vice president, Mike Pence, said he had been disappointed by the actions of the man ousted from the job and supported his dismissal. Trump asked for Michael Flynn's resignation on Feb. 13 after reports emerged that the retired lieutenant general misled Pence about having spoken to Russia's ambassador about U.S. sanctions before Trump's inauguration. The ouster, coming so early in Trump's administration, was another upset in a White House that has been battered by miscues, including the controversial roll-out of a travel ban on people from seven Muslim-majority countries, since the Republican president took office on Jan. 20.

  • Asset managers push back against UK rule change proposals Reuters - 2 hours 18 minutes ago

    Asset managers on Monday marshalled their defence against proposed changes by their regulator aimed at boosting value for investors by cutting costs and increasing competition. The Financial Conduct Authority launched a review of the industry last year aimed at overhauling Britain's 7 trillion pound ($9 trillion) asset management industry, and gave Feb. 20 as the deadline for reaction to its interim findings. The regulator had flagged widespread concerns about the performance of actively-managed funds relative to fees charged, the level of competition in the industry and the information shared with investors to help them make decisions.

  • Russia's Putin deeply upset by death of U.N. envoy Churkin -agencies cite Kremlin Reuters - 2 hours 19 minutes ago

    Russian President Vladimir Putin was deeply upset to learn of the death of Russia's ambassador to the United Nations, Vitaly Churkin, Russian news agencies cited Kremlin spokesman Dmitry Peskov as saying ...

  • Iraqi forces battling Islamic State about to reach Mosul airport Reuters - 2 hours 20 minutes ago

    SOUTH OF MOSUL/BAGHDAD, Iraq, Feb 20 (Reuters) - U.S.-backed Iraqi forces battling Islamic State fighters have fought their way close to Mosul's airport on the second day of a ground offensive on the jihadists' remaining stronghold in the western side of the city, military statements said on Monday. Federal police and elite interior ministry units known as Rapid Response are leading the charge toward the airport on the southern outskirts of Mosul and plan to turn it into a close support base for the push into western Mosul, commanders have said.

  • EU privacy watchdogs say Windows 10 settings still raise concerns Reuters - 2 hours 24 minutes ago
    EU privacy watchdogs say Windows 10 settings still raise concerns

    European Union data protection watchdogs said on Monday they were still concerned about the privacy settings of Microsoft's Windows 10 operating system despite the U.S. company announcing changes to the installation process. The watchdogs, a group made up of the EU's 28 authorities responsible for enforcing data protection law, wrote to Microsoft last year expressing concerns about the default installation settings of Windows 10 and users' apparent lack of control over the company's processing of their data.

  • EU privacy watchdogs say Windows 10 settings still raise concerns Reuters - 2 hours 25 minutes ago

    European Union data protection watchdogs said on Monday they were still concerned about the privacy settings of Microsoft's Windows 10 operating system despite the U.S. company announcing changes to the installation process. The watchdogs, a group made up of the EU's 28 authorities responsible for enforcing data protection law, wrote to Microsoft last year expressing concerns about the default installation settings of Windows 10 and users' apparent lack of control over the company's processing of their data.

  • VW says it has fixed 470,000 cars in Britain affected by diesel scandal Reuters - 2 hours 29 minutes ago

    German carmaker Volkswagen (VOWG_p.DE) has fixed 470,000 cars out of 1.2 million affected by the diesel emissions scandal in Britain, the firm's UK managing director told lawmakers on Monday. Paul Willis faced difficult questions from lawmakers, some of whom are angry that the firm has not been fined in Britain and that motorists have not received compensation, unlike VW owners in the United States, where the company admitted it had used software to cheat tests on diesel emission levels. "Out of 1.2 million technical measures which have to be applied, as of today, we have applied 470,000 and at the current rate we are applying these measures to 20,000 cars a week," Willis told parliament's transport committee.

  • VW says it has fixed 470,000 cars in Britain affected by diesel scandal Reuters - 2 hours 30 minutes ago

    German carmaker Volkswagen has fixed 470,000 cars out of 1.2 million affected by the diesel emissions scandal in Britain, the firm's UK managing director told lawmakers on Monday. Paul Willis faced difficult questions from lawmakers, some of whom are angry that the firm has not been fined in Britain and that motorists have not received compensation, unlike VW owners in the United States, where the company admitted it had used software to cheat tests on diesel emission levels. "Out of 1.2 million technical measures which have to be applied, as of today, we have applied 470,000 and at the current rate we are applying these measures to 20,000 cars a week," Willis told parliament's transport committee.

  • Reliance's Jio hails Uber ride in payments battle with PayTM Reuters - 2 hours 53 minutes ago
    Reliance's Jio hails Uber ride in payments battle with PayTM

    Uber users in India, who until now had Chinese Internet giant Alibaba-backed PayTM as the only payment wallet option available to book a ride, will now be able to pay through Reliance Jio Infocomm's ...

  • Germany encouraged over Opel jobs, but UK union worries Reuters - 2 hours 57 minutes ago
    Germany encouraged over Opel jobs, but UK union worries

    BERLIN/LONDON (Reuters) - Initial talks between the German government and carmakers PSA (PEUP.PA) and General Motors (GM.N) have led to some encouraging signs that jobs at Opel factories will be preserved, though no guarantees have been made yet, a top official said on Monday. In contrast, a source close to Britain's biggest trade union said it was increasingly concerned about the future of Vauxhall plants in England, should Peugeot-maker PSA seal a deal to buy GM's European Opel/Vauxhall arm. Europe's car industry has been dogged by overcapacity for years, and analysts have said the planned sale of GM's loss making European business to France's PSA is likely to result in some cutbacks.

  • Nigeria tests waters for possible broad naira devaluation Reuters - 2 hours 59 minutes ago

    Nigeria effectively devalued the naira for private individuals on Monday, paving the way for a possible broader move despite stiff resistance from President Muhammadu Buhari. With Buhari abroad for medical treatment and the country's currency exchange system in chaos, the central bank said Nigerians wanting dollars for travel or to pay foreign school fees could buy dollars at nearly 20 percent above the official rate.

  • UN shocked by Russian envoy's death - TASS Reuters - 3 hours ago

    The United Nations is "shocked" by the sudden death of Russia's envoy to the world body, Vitaly Churkin, and has extended its condolences to Moscow, TASS news agency cited a representative for ...

  • Snap arrives in London to woo skeptical investors ahead of IPO Reuters - 3 hours ago
    Snap arrives in London to woo skeptical investors ahead of IPO

    Snap Inc, owner of popular messaging app Snapchat, kicked off its first investor roadshow on Monday, looking to persuade London money managers to back its initial public offering in the face of concerns about its growth prospects, valuation and corporate governance. The U.S. company, which has yet to make a profit, aims to raise between $19.5 billion and $22.3 billion from listing on the New York Stock Exchange, after cutting its initial target of $20-$25 billion last week following investor feedback. Investors attending Monday's event said Snap's 26-year-old Chief Executive Evan Spiegel gave a sleek presentation.

  • EU privacy watchdogs say Windows 10 settings still raise concerns Reuters - 3 hours ago

    European Union data protection watchdogs said on Monday they were still concerned with the privacy settings of Microsoft's Windows 10 operating system after the U.S. company announced changes to the installation process. The group of the EU's 28 authorities responsible for enforcing data protection law in the bloc wrote to Microsoft last year expressing significant concerns about the default installation settings of Windows 10 and users' apparent lack of control over the company's processing of their data. The group - referred to as the Article 29 Working Party - requested further explanations of Microsoft's processing of personal data for various purposes, including advertising.

  • Russian envoy to UN, Vitaly Churkin, dies in New York - foreign ministry Reuters - 3 hours ago

    Russia's ambassador to the United Nations, Vitaly Churkin, has died in New York, the Russian Foreign Ministry said in a statement on Monday. The ministry gave no details on the circumstances of his death ...

  • Euro zone's Dijsselbloem says next loan to Greece may not come soon Reuters - 3 hours ago

    The next disbursement of financial aid to Greece from its euro zone lenders may not be imminent as talks are still complicated, the head of euro zone finance ministers said on Monday, adding that the target was to secure a deal as soon as possible. "There is still a lot of work to do," Jeroen Dijsselbloem told a news conference after a meeting of finance ministers in Brussels. Dijsselbloem added that he hoped that a deal on Greek reforms and on the next disbursement can be reached "as soon as possible", but declined to answer a question on whether the next loan will hinge on the participation of the International Monetary Fund to the bailout.

  • Argentina to eliminate tariff on computers, tablets Reuters - 3 hours ago

    Argentina will get rid of a 35 percent tariff on imports of computers, laptops and tablets, the Production Ministry said on Monday, part of a larger effort to lower consumer prices and roll back protectionist policies. The government hopes the elimination of the tariff, which will take effect in April, can normalize the distorted consumer electronics market. Computers are three times more expensive in Argentina than in the United States, and 50 percent more expensive than in neighboring Chile, the ministry said in a statement.