Financial News from Reuters

  • Citigroup plans to double South Korea wealth assets by 2020 Reuters - 6 minutes ago

    Citigroup Inc plans to double its wealth management assets in South Korea, currently at about $3 billion, by 2020, as the U.S. bank invests more in digital technology to expand its customer base in the country. Citi also aims to boost South Korea consumer banking deposits by 30 percent by 2020, up from $10 billion currently, it said in a statement about its expansion plans, as the bank mark its 50th anniversary in the country this year.

  • United Airlines bars teenage girls in leggings from flight Reuters - 21 minutes ago

    Two teenage girls wearing leggings were barred from boarding a United Airlines flight on Sunday because they did not meet a dress code for special pass travelers, a company spokesman said amid a furor on social media. The two girls, who were traveling with a companion, would not have been turned away for wearing leggings had they been paying customers, United spokesman Jonathan Guerin said as the airline responded to the backlash.

  • Pence revives talk of U.S. moving Tel Aviv embassy to Jerusalem Reuters - 24 minutes ago

    U.S. Vice President Mike Pence on Sunday revived talk of the possibility the United States may move its embassy to Jerusalem from Tel Aviv, saying President Donald Trump was seriously considering the matter. During the 2016 U.S. presidential campaign, Trump's team spoke often about moving the U.S. embassy to Jerusalem.

  • Hyundai Motor suspends another China plant amid political tension: report Reuters - 26 minutes ago
    Hyundai Motor suspends another China plant amid political tension: report

    Hyundai Motor has suspended production at a fourth China factory for one week starting March 24, online media ChosunBiz reported on Sunday, fuelling worries about the impact of South Korea's political tension with China on sales in the automaker's top market. Shares of Hyundai Motor fell as much as 3 percent on Monday, while its affiliates Kia Motors and Hyundai Mobis also traded lower. Online media ChosunBiz reported on Sunday that Hyundai Motor's China joint venture has told suppliers that it will idle the factory in Cangzhou, Hebei Province from March 24 to April 1, to check its production line.

  • Mexicans who help build Trump wall 'traitors,' top Archdiocese says Reuters - 41 minutes ago

    Mexicans who help build U.S. President Donald Trump's planned border wall would be acting immorally and should be deemed traitors, the Catholic Archdiocese of Mexico said on Sunday, turning up the heat on a simmering dispute over the project. In a provocative editorial, the country's biggest Archdiocese sought to increase pressure on the government to take a tougher line on companies aiming to profit from the wall, which has strained relations between Trump and the Mexican government. "Any company intending to invest in the wall of the fanatic Trump would be immoral, but above all, its shareholders and owners should be considered traitors to the homeland," said the editorial in Desde la fe, the Archdiocese's weekly publication.

  • China Southern Airlines set to open 5.3 pct up in HK on tie-up talks Reuters - 1 hour 19 minutes ago

    Hong Kong shares of China Southern Airlines are set to open up 5.3 percent on Monday after the Chinese carrier said it was negotiating a potential strategic tie-up with American Airlines . The stock is ...

  • U.S. equity futures at six-week low after Trump healthcare setback Reuters - 1 hour 52 minutes ago
    U.S. equity futures at six-week low after Trump healthcare setback

    S&P 500 e-mini futures (ESv1) were down over 0.65 percent, shortly after electronic trading resumed on Sunday evening. Volume of more than 17,000 contracts in the first 30 minutes marked the heaviest trading activity to kick off a week since Trump took office. U.S. Treasury futures were up 0.18 percent Sunday, indicating that yields would start the week lower when bonds start trading in Asia later.

  • U.S. equity futures at six-week low after Trump healthcare setback Reuters - 1 hour 59 minutes ago

    U.S. equity index futures fell to a six-week low on Sunday in a sign Wall Street would start the week defensively after Republicans pulled legislation to overhaul the U.S. healthcare system in a stunning setback for President Donald Trump. S&P 500 e-mini futures were down over 0.65 percent, shortly after electronic trading resumed on Sunday evening. Volume of more than 17,000 contracts in the first 30 minutes marked the heaviest trading activity to kick off a week since Trump took office.

  • White House looks past conservatives on tax reform - to Democrats Reuters - 2 hours 10 minutes ago

    Fresh off a defeat on U.S. healthcare legislation, the White House warned rebellious conservative lawmakers that they should get behind President Donald Trump's agenda or he may bypass them on future legislative fights, including tax reform. The threat by White House chief of staff Reince Priebus to build a broad coalition on tax reform that could include moderate Democrats came as the Republican head of the tax-writing committee in the House of Representatives said he hoped to move a tax bill through his panel this spring. House Ways and Means Committee Chairman Kevin Brady said his committee had been working on tax reform in parallel with the failed healthcare reform push.

  • Toshiba's Westinghouse may file bankruptcy Tuesday, seeks Kepco aid: Nikkei Reuters - 2 hours 16 minutes ago
    Toshiba's Westinghouse may file bankruptcy Tuesday, seeks Kepco aid: Nikkei

    Westinghouse Electric Co, the U.S. nuclear unit of Japan's Toshiba Corp , could file for bankruptcy protection as early as Tuesday and is seeking support from South Korea's Korea Electric Power Corp , the Nikkei said on Monday. A Chapter 11 filing could help Toshiba limit damage from losses at Westinghouse, the report by the Japanese business daily said, without citing sources for its information. Sources told Reuters on Friday that Toshiba had told its main banks it planned to have Westinghouse file for bankruptcy on Friday, expanding charges related to the U.S. unit this business year to about 1 trillion yen ($9 billion) from its publicly flagged estimate of 712.5 billion yen.

  • Equities take a spill on Trump healthcare setback; bonds shine Reuters - 2 hours 18 minutes ago
    Equities take a spill on Trump healthcare setback; bonds shine

    Asian stocks are set to start the week on a cautious note as President Donald Trump's stunning failure to get healthcare reform passed raised concerns about the prospects for his plans to use fiscal stimulus to boost economic growth. Financial markets were unnerved on Friday by Trump's inability to get enough support for legislation to "repeal and replace" the Obamacare health insurance reforms, a major 2016 election campaign promise. Despite some recent profit-taking, U.S. stocks (.SPX) are still up more than 12 percent since Trump was elected on Nov. 8, the stock prices reflecting views that lower taxes, deregulation and fiscal stimulus would boost economic growth and corporate earnings.

  • FOREX-Dollar hits near 2-mth low after Trump's healthcare debacle Reuters - 2 hours 19 minutes ago

    The inability to overhaul the U.S. healthcare system, a major election campaign promise of Trump and his allies, marked a significant political setback for the president in a Congress controlled by his own party. The blow so early in Trump's term has heightened worries about the chances of economy-boosting steps being enacted, such as tax reforms and big spending packages. "Concerns towards the Trump administration have been reignited after his healthcare legislation setback.

  • PRESS DIGEST- Financial Times - March 27 Reuters - 2 hours 27 minutes ago

    - Advertisers are demanding prime space from Google at discounted prices rates after it was came to light that many brands had appeared next to extremist content on YouTube. Group M's, a part of WPP, Chief Digital Officer Rob Norman said he has been in “constant dialogue with Google” suggesting “a range of actions they may take to give greater comfort and security” to advertisers. - Britain’s leading banks Standard Chartered and Barclays have drawn ire from some big shareholders over decisions to lower hurdles for long-term bonuses for their bosses, in the latest conflict with investors over executive pay.

  • Russian police detain opposition leader, hundreds of protesters Reuters - 2 hours 30 minutes ago

    MOSCOW/YEKATERINBURG, Russia, March 26 (Reuters) - Police detained hundreds of protesters across Russia on Sunday, including opposition leader Alexei Navalny, after thousands took to the streets to demonstrate against corruption and demand the resignation of Prime Minister Dmitry Medvedev. The protests, reckoned to be the biggest since a wave of anti-Kremlin demonstrations in 2011/2012, come a year before a presidential election that Vladimir Putin is expected to contest, running for what would be a fourth term.

  • Toshiba shares rise after report Westinghouse may file bankruptcy Tuesday Reuters - 2 hours 31 minutes ago

    Shares in Toshiba Corp rose on Monday morning after a report that U.S. unit Westinghouse Electric Co could file for bankruptcy protection as early as Tuesday and is seeking support from South Korea's Korea ...

  • Washington condemns arrests in Russia of hundreds of protesters Reuters - 2 hours 48 minutes ago

    The United States on Sunday condemned the arrest of hundreds of protesters in Russia, calling the action an affront to democratic values. "We call on the government of Russia to immediately release ...

  • PRESS DIGEST- British Business - March 27 Reuters - 2 hours 51 minutes ago

    The following are the top stories on the business pages of British newspapers. - Hurricane Energy has made another oil discovery near the Shetland Islands, bolstering hopes that it may have the biggest find in British waters this century. The Surrey-based oil company is expected to announce today that surveys of its Halifax well in an area off the west of the Shetland Islands have identified a “kilometre-deep oil column” linked to its existing Lancaster find.

  • HIGHLIGHTS-The Trump presidency on March 26 at 7:50 p.m. EDT/2350 GMT Reuters - 2 hours 57 minutes ago

    Highlights of the day for U.S. President Donald Trump's administration on Sunday: TAX REFORM Fresh off a defeat on U.S. healthcare legislation, the White House warns rebellious conservative lawmakers that ...

  • U.S. equity futures at six week low after Trump healthcare setback Reuters - 3 hours ago
    U.S. equity futures at six week low after Trump healthcare setback

    S&P 500 e-mini futures (ESv1) were down over 0.6 percent, shortly after electronic trading resumed on Sunday evening. Volume of more than 17,000 contracts in the first 30 minutes marked the heaviest trading activity to kick off a week since Trump took office.

  • U.S. equity futures at six week low after Trump healthcare setback Reuters - 3 hours ago

    U.S. equity index futures fell to a six-week low on Sunday in a sign Wall Street would start the week defensively after Republicans pulled legislation to overhaul the U.S. healthcare system in a stunning setback for President Donald Trump. S&P 500 e-mini futures were down over 0.6 percent, shortly after electronic trading resumed on Sunday evening. Volume of more than 17,000 contracts in the first 30 minutes marked the heaviest trading activity to kick off a week since Trump took office.

  • Trump to sign order on Tuesday easing energy regulations -officials Reuters - 3 hours ago

    President Donald Trump will sign an order on Tuesday aimed at making it easier for companies to produce energy in the United States, administration officials said on Sunday. Under Trump, the U.S. Environmental Protection Agency is aiming to aggressively roll back Obama-era environmental regulations. Trump plans to sign the executive order at the EPA to reduce "unnecessary regulatory obstacles that restrict the responsible use of domestic energy resources," a White House official said.

  • UK manufacturers urge PM May to drop threat of no Brexit deal Reuters - 3 hours ago

    Britain's manufacturers told Prime Minister Theresa May on Monday to drop her threat that she might take the country out of the European Union without a new trade deal, saying they would bear the brunt of trade barriers with the EU. May plans to trigger the two-year Brexit process on Wednesday and she has warned the other 27 EU countries that no deal would be better than a bad deal. "The idea of being able to walk away empty-handed might be a negotiating tactic, but it would in reality deliver a risky and expensive blow," Terry Scuoler, chief executive of EEF, Britain's manufacturing lobby, said.

  • Land of the short white feather: NZ's unlikely bird flu success Reuters - 3 hours ago

    BEIJING/WELLINGTON, March 27 (Reuters) - The deadly bird flu that's forced mass bird culls and roiled the global egg and poultry trade has spawned one unlikely success – New Zealand, a rare source of disease-free birds and supplier for China's voracious chicken consumption. When Spain reported an outbreak of H5N8 bird flu last month, it left New Zealand as the only source, albeit a tiny one, of disease-free birds to replenish China's white-feathered broiler chicken stock. China, the world's second-largest poultry consumer, relies on imports for its supply of white feather chicken, which are favoured by fast-food chains for their more rapid development and plumper meat, compared with yellow-feathered birds, which are native to China and generally sold retail.

  • Yingde Gases "accidental win" for minorities fans sparks of activism Reuters - 3 hours ago

    The messy battle to control China's largest producer of industrial gases has turned into a serendipitous victory for minority investors that could encourage more shareholder activism in Asia. The decision by Yingde Gases Group's shareholders earlier in March to oust five directors ended a four-month battle for control of the $1.6 billion company's board in a clash over how to improve its finances and business. The increase in public activist campaigns also highlights how investors including Elliott Management Corp, BlackRock Inc and Hong Kong-based hedge fund Oasis Management are becoming more public as they try to rally other minority shareholders to boost returns from laggard stocks.

  • U.S. Treasury futures slightly higher on open Reuters - 3 hours ago

    U.S. 10-year Treasury note futures prices were higher at the open on Sunday, after President Donald Trump's stunning political setback on Friday when Republican leaders pulled legislation to overhaul the ...

  • White House looks past conservatives on tax reform - to Democrats Reuters - 4 hours ago

    Fresh off a defeat on U.S. healthcare legislation, the White House warned rebellious conservative lawmakers that they should get behind President Donald Trump's agenda or he may bypass them on future legislative fights, including tax reform. The threat by White House chief of staff Reince Priebus to build a broad coalition on tax reform that could include moderate Democrats came as the Republican head of the tax-writing committee in the House of Representatives said he hoped to move a tax bill through his panel this spring. House Ways and Means Committee Chairman Kevin Brady said his committee had been working on tax reform in parallel with the failed healthcare reform push.

  • U.S. Republican lawmaker quits conservative House group over healthcare conflict Reuters - 4 hours ago

    Republican U.S. Representative Ted Poe resigned from the House Freedom Caucus on Sunday over the conservative legislative group's role in sinking a healthcare overhaul championed by President Donald Trump. Poe was in favor of the Republican legislation, but the Freedom Caucus argued the proposal did not go far enough in repealing the 2010 Affordable Care Act, popularly known as Obamacare. The Freedom Caucus, consisting of the House of Representatives' most conservative members, was instrumental in dealing Trump a stunning political setback on Friday when Republican House leaders pulled the healthcare legislation, derailing a major 2016 election campaign promise of the president and his allies.

  • United Airlines bars teenage girls in leggings from flight Reuters - 4 hours ago

    At least two girls wearing leggings were barred from boarding a United Airlines flight on Sunday because they were not in compliance with a dress code for passengers, the company said in a statement on Twitter. "The passengers this morning were United pass riders who were not in compliance with our dress code policy for company benefit travel," the airline said on Twitter as the incident Thanwent viral on social media. In another tweet made in response to a question from a social media user, the airline said: "Casual attire for ticketed passengers is fine.

  • FOREX-Dollar slips in Asia as market frets on US fiscal outlook Reuters - 4 hours ago

    The U.S. dollar took a spill in early Asian trade on Monday as investors in the region fretted about the chances of U.S. fiscal stimulus following the defeat of President Donald Trump's healthcare package. Traders said the market was divided on what the failure of Trump's healthcare bill meant for the outlook for U.S. tax cuts and infrastructure spending. "There is a widespread perception that failure to pass the healthcare bill somehow derails the rest of the Trump agenda," said Tom Porcelli, chief U.S. economist at RBC Capital Markets.

  • U.S. Treasury futures little changed on open Reuters - 4 hours ago

    U.S. 10-year Treasury note futures prices were little changed at the open on Sunday, after President Donald Trump's stunning political setback on Friday when Republican leaders pulled legislation to overhaul ...

  • U.S. equity futures drop 0.3 percent Reuters - 4 hours ago

    U.S. equity index futures dropped at the open on Sunday, after President Donald Trump's stunning political setback on Friday when Republican leaders pulled legislation to overhaul the U.S. healthcare system. ...

  • Toshiba's Westinghouse may file bankruptcy Tuesday, seeks Kepco aid: Nikkei Reuters - 4 hours ago
    Toshiba's Westinghouse may file bankruptcy Tuesday, seeks Kepco aid: Nikkei

    Westinghouse Electric Co, the U.S. nuclear unit of Japan's Toshiba Corp , could file for bankruptcy protection as early as Tuesday and is seeking support from South Korea's Korea Electric Power Corp , the Nikkei said on Monday. A Chapter 11 filing could help Toshiba limit damage from losses at Westinghouse, the report by the Japanese business daily said, without citing sources for its information. Sources told Reuters on Friday that Toshiba had told its main banks it planned to have Westinghouse file for bankruptcy on Friday, expanding charges related to the U.S. unit this business year to around 1 trillion yen ($9 billion) from its publicly flagged estimate of 712.5 billion yen.

  • Merkel's conservatives win Saarland vote in boost for national campaign Reuters - 6 hours ago

    BERLIN/SAARBRUECKEN, Germany, March 26 (Reuters) - German Chancellor Angela Merkel's conservatives won a regional election in the western state of Saarland on Sunday, dealing a setback to their Social Democrat rivals and boosting her prospects of winning a fourth term in September's national election. Merkel's Christian Democrats (CDU) strengthened their position as the largest party in the state despite expectations ahead of the vote that the Social Democrats (SPD) would be boosted by their new national leader, Martin Schulz.

  • Norwegian bank DNB sells its share of Dakota pipeline funding Reuters - 6 hours ago

    Norwegian bank DNB has sold its share of loans funding the Dakota Access oil pipeline, it said on Sunday, ending its involvement in a project that has faced strong opposition from Native Americans and environmental groups. DNB announced in November that it would review its participation in the financing of the Energy Transfer Partners LP project, which will move crude oil from the Northern Plains to the Midwest and then on to the Gulf of Mexico. After meeting, among others, representatives from the Standing Rock Sioux tribe as well as the pipeline company, DNB decided to pull out, it said.

  • Viacom's shares could jump 40 percent: Barron's Reuters - 7 hours ago
    Viacom's shares could jump 40 percent: Barron's

    Shares of Viacom Inc could rise 40 percent in the next year as the New York-based media company's new CEO Bob Bakish focuses on its Paramount Pictures studio and a handful of its networks to turn the business ...