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Financial News from Reuters

  • For highlights of the G20 news conferences click on

  • The Group of 20 countries is formulating plans for a legal framework to improve the exchange of information between countries in order to stamp out tax avoidance, French Finance Minister Michel Sapin said on Sunday. Speaking at the conclusion of a G20 meeting in Cairns, Australia, Sapin said 47 countries have already agreed …

  • Defense Secretary Chuck Hagel spoke with Egyptian Defense Minister Colonel General Sedki Sobhy on Saturday to confirm the United States plans to deliver 10 Apache helicopters to Egypt to support Cairo's counter-terrorism efforts, the Pentagon said. The United States originally announced in April that it had decided to …

  • The Facebook logo is pictured at the Facebook headquarters in Menlo Park

    Facebook Inc's Oculus VR unit announced an upgraded prototype of its virtual reality headset that has higher resolution and built-in audio, but the company said it is not ready to sell a device to consumers. The new Crescent Bay device also is lighter than the most recent prototype of the Oculus Rift headset the company …

  • A NASA spacecraft designed to investigate how Mars lost its water is expected to put itself into orbit around the Red Planet on Sunday after a 10-month journey. After traveling 442 million miles (711 million km) from Earth, the Mars Atmosphere and Volatile Evolution, or MAVEN, probe faces a do-or-die burn of its six braking …

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  • Oliver Samwer, chief executive and co-founder of Rocket Internet is in a position to increase his stake in the German venture capital firm under a stock options program that will be part of its planned stock market listing, a German magazine report said on Saturday. Samwer stands to receive options that entitle him to …

  • Russia's Novatek may get funds from the National Wealth Fund for its Yamal LNG project before the year-end, a minister said, as part of government plans to support sanction-hit companies. Russia's No.2 gas producer, co-owned by an ally of President Vladimir Putin, Gennady Timchenko, was put on the Western sanctions list …

  • File photo of Hyundai Motor Group chairman Chung attending the company's new year ceremony in Seoul

    Hyundai Motor <005380.KS> and two listed affiliates did not seek board clearance for the size of their record $10 billion bid for a plot of land in Seoul, more than triple its appraised value, four board members of the companies told Reuters. Thursday's winning bid for the land sent shares in Hyundai Motor, Kia Motors …

  • The logo of Germany's Rheinmetall AG is outside the company's headquarters in the western German city of Duesseldorf

    Germany's defense industry lobby has warned that companies were looking into shifting production abroad in response to the country's restrictive arms export policy. "All large defense contractors in Germany are assessing whether they can stay in the country in the long run," Armin Papperger, the chief executive of Rheinmetall …

  • Passengers wait at check-in counters during Air France one-week strike at Marseille airport

    Air France pilots have voted to extend their week-long strike over cost cuts and plans for the company's Transavia unit by a further four days until Sept. 26, the head of the SNPL union said on Saturday. More than four-fifths of the 74 percent of pilots who took part in the ballot agreed to pursue the industrial action …

  • New Zealand's ruling National party stormed to a third term in government in the country's general election on Saturday with the centre-right party securing an outright election night majority on a platform to continue tight economic policies. Prime Minister John Key's party won 48.1 percent of the vote, translating into …

  • Canada's finance minister said on Saturday commitments made by G20 countries came "very close" to the target of adding an extra 2 percentage points to global economic growth and he urged European governments to increase stimulus where they could. More than 900 individual proposals have been submitted and analyzed by officials …

  • New Zealand's ruling National party stormed to a third term in government in the election on Saturday as the centre-right party secured an outright majority on a platform to continue strong economic growth. Prime Minister John Key's party received 48.1 percent of the vote, translating into 62 of 121 parliamentary seats …

  • Joe Gallo is not just a fan of National Football League running back Adrian Peterson, he "owns" him, as do thousands of other participants in the world of fantasy football. Gallo is among millions of Americans who take part in fantasy football, which involves players building their own teams from NFL rosters and then winning …

  • LOS ANGELES/NEW YORK, Sept 20 (Reuters) - When NFL players strap on their pink shoes and gloves in October for the league's annual Breast Cancer Awareness Month campaign, it will be doing so with one less sponsor, a notable retreat blamed on the league's handling of domestic violence. Crest, Procter & Gamble Co's dental …

  • Jonathan Mosen, who has been blind since birth, spent his evening snapping photos of packages in the mail, his son's school report and labels on bottles in the fridge. In seconds, he was listening to audio of the printed words the camera captured, courtesy of a new app on his Apple Inc iPhone. The $99 app is the result …

  • US Treasury Secretary Lew stands with his Australian counterpart Hockey during a media conference at the start of the G20 Finance Ministers and Central Bank Governors meeting in the northern Australian city of Cairns

    Financial leaders of the Group of 20 top economies remain committed to chasing higher global growth, but were divided on how to achieve it as Germany pushed back at calls from the United States and others for more immediate stimulus. Opening a meeting of G20 finance ministers and central bankers, Australian Treasurer Joe …

  • Former Prime Minister Gordon Brown told British leaders on Saturday that they must honour their promise to grant further powers to Scotland after voters backed staying in the United Kingdom in an independence referendum. Just days before the Sept. 18 vote, Brown appeared to be making British policy by announcing that laws …

  • The Mexican economy is on track to achieve the government's growth forecast of 2.7 percent for 2014, deputy finance minister Fernando Aportela said on Saturday. Aportela said the latest data for new jobs, industrial output and automotive production supported the government's forecast, which some analysts have described …

  • Japanese Finance Minister Taro Aso said on Saturday he told his Group of 20 counterparts that the world's third-largest economy continues to recover moderately despite the temporary pain from a sales tax ...

  • Russia's biggest oil producer Rosneft said on Saturday that Exxon Mobil was still continuing exploration drilling at their joint project in the Arctic Kara Sea. Exxon said on Friday that the U.S. Treasury Department gave it a short extension to wind down a rig at the well, beyond the 14 days outlined in the sanctions …

  • Photo illustration of one hundred dollar notes in Seoul

    We are now seeing a new uptrend develop,” said Adam Sarhan, founder and CEO of Sarhan Capital in New York. If you’re a large tech company and you do a lot of business overseas, that’s not going to help you,” said Larry Glazer, managing partner at Mayflower Advisors in Boston. Lower oil prices favor the consumer, who can …

  • * ECB waiting for results of current stimulus steps * Noyer says euro zone "certainly not in deflation" * Weaker euro would be helpful to restore price stability FRANKFURT, Sept 20 (Reuters) - The European Central Bank is not currently considering widening its asset purchases to include government debt, ECB Governing …

  • China's Cyperspace Administration has closed nearly 1.8 million accounts on social networking and instant messaging services since it launched its anti-pornography campaign in April, state news agency ...

  • Goodell tackles NFL domestic abuse crisis with vow to reform Reuters - Fri, Sep 19, 2014 10:48 PM EDT

    A chastened NFL Commissioner Roger Goodell said on Friday that the league's poor response to its domestic violence crisis will prompt an overhaul of how it deals with player behavior and punishment in America's most popular sports league. Goodell has been under fire since the NFL's slow and fumbled response to the domestic …

  • Major accounting firm Ernst & Young LLP has reached a tentative settlement with Canada's biggest securities regulator over its audits of Sino-Forest Corp and another China-focused company, the Ontario Securities Commission said on Friday. The OSC will hold a hearing on Sept. 30 to decide whether to approve the settlement …

  • American Airlines Group Inc said on Friday it struck a tentative contract agreement with the Association of Professional Flight Attendants, an important step in finalizing a deal with 24,500 U.S.-based stewards at the airline. If members of APFA ratify the agreement this fall, it will be the first contract passed since …

  • Merrill Lynch fired two veteran brokers from its Private Banking and Investment Group two weeks ago for guiding clients to invest in a hedge fund outside of the brokerage firm. The brokers, Stephen S. Brown and James P. Goetz, were based in Pittsford, New York, a suburb of Rochester, and managed about $2.5 billion of assets …

  • Oracle Corp CEO Ellison introduces the Oracle Database In-Memory during a launch event in Redwood Shores

    If Larry Ellison sailed off on his yacht for good tomorrow, who would really run Oracle Corp (ORCL.N)? Reuters asked a cast of Wall Streets analysts, and the verdict is dealmaker and finance guru Safra Catz. The question is on investors' minds after Ellison, 70, promoted both Catz and sales leader Mark Hurd to the CEO …

  • U.S. information chief joins response to Ebola outbreak Reuters - Fri, Sep 19, 2014 6:54 PM EDT

    A U.S. government technology expert who helped Microsoft Corp co-founder Bill Gates launch the Bill & Melinda Gates Foundation will join the Obama administration's battle against Ebola in West Africa, ...

  • Accreditation agency places Corinthian under warning Reuters - Fri, Sep 19, 2014 6:41 PM EDT

    Corinthian Colleges Inc said the accreditation agency looking into its placement records has directed the for-profit college to notify its students that it is under warning. The Accrediting Commission of Career Schools and Colleges places colleges under warning when it has reason to believe that a school is not in compliance …

  • A Tesla Motors logo is shown on a Tesla Model S at a Tesla Motors dealership at Corte Madera Village, an outdoor retail mall, in Corte Madera

    Electric carmaker Tesla Motors Inc on Friday announced it is rolling out a software upgrade over-the-air to its current Model S owners, a unique ability that other automakers are expected to offer within a few years. Tesla, based in Silicon Valley, has completed more than a dozen over-the-air software upgrades since the …

  • Sign for a RadioShack store is seen in the Brighton Beach section of the Brooklyn borough in New York

    Circuit Court of Appeals in Chicago said there was no showing that the proposed $1 million fee was reasonable for a settlement calling for roughly 83,000 class members to each receive a $10 voucher redeemable at RadioShack stores. Writing for a three-judge panel, Circuit Judge Richard Posner noted that RadioShack's "fragile" …

  • JBS SA, the world's largest meatpacker, has put off a plan to raise 4 billion reais ($1.7 billion) from the initial public offering of its pork, poultry and food-processing operations in Brazil, two sources with direct knowledge of the decision said. JBS and banks are wary that market volatiltiy stemming from uncertainty …

  • The United Nation's civil aviation body, currently wrestling with how to help airlines maintain safety over conflict zones, is taking first steps toward protection for commercial vessels in space. Commercial space travel took a big leap this week after the U.S. "We're starting to look at (suborbital space travel) more …

  • Presidents of the Federal Reserve's 12 regional banks are more likely to dissent in favor of tighter monetary policy, than the political appointees who make up the central bank's Board of Governors, according to a Fed study published on Friday. Fed presidents, who typically account for just five of 12 voting spots on the …

  • Global shares end flat, closing out strong week Reuters - Fri, Sep 19, 2014 6:14 PM EDT
    Traders work on the floor of the New York Stock Exchange

    Stock markets around the world closed flat on Friday as early gains failed to hold through the session, though the upward trend in equities continued and Alibaba soared in its historic U.S. trading debut. ...

  • Goldman Sachs Group Inc has promoted Gary Rapp to head of U.S. Rapp had previously been the head credit trader in the financials sector at the Wall Street bank, said the people, who were not authorized to publicly discuss internal personnel matters. Rapp is a managing director who joined Goldman in 1999. He reports to …

  • U.S. court tosses Argentina, Citigroup appeal in bond case Reuters - Fri, Sep 19, 2014 6:02 PM EDT
    A Citi sign is seen at the Citigroup stall on the floor of the New York Stock Exchange

    Circuit Court of Appeals in New York, in a brief order, declined to find it had jurisdiction because the order Citigroup and Argentina appealed was a "clarification, not a modification" of a prior decision by U.S.

  • An ambitious $1.3 billion program to provide an iPad or other device to every Los Angeles public school student has been slowed by technical challenges, with curriculum that was supposed to be built into the technology often incomplete, an independent report has found. The report marked a potential setback for a program …

  • Apple faithful line up for latest, larger iPhones Reuters - Fri, Sep 19, 2014 5:50 PM EDT
    Customers enter the Fifth Avenue Apple store shortly after doors opened for iPhone 6 sales in Manhattan, New York

    NEW YORK/SAN FRANCISCO (Reuters) - Apple Inc's (AAPL.O) latest phone lured throngs of gadget lovers, entrepreneurs and early adopters to its stores in New York, San Francisco and other cities around the world in the latest sign of strong initial demand for the new, larger generation of iPhones. Some eager to get their …

  • A U.S. federal judge on Friday refused to block Keurig Green Mountain Inc from selling a coffee machine with "lockout" technology that prevents it from accepting coffee pods made by other companies. ...

  • Siemens, GE consider bid for Dresser Rand - reports Reuters - Fri, Sep 19, 2014 5:38 PM EDT

    General Electric Co and Germany's Siemens are considering bids for compressor and turbine maker Dresser-Rand that could derail a merger between Dresser-Rand and Swiss pump maker Sulzer , according to media reports. The Financial Times and Bloomberg reported that Siemens' supervisory board may vote on whether to table a …

  • One of Mexico's richest men has resigned from broadcaster Televisa's board over a potential conflict of interest because he wants to acquire his own television network, the company said on Friday. German Larrea, a reclusive tycoon who controls mining and infrastructure giant Grupo Mexico, aims to take part in the bidding …

  • Alibaba surges 38 percent on massive demand in market debut Reuters - Fri, Sep 19, 2014 5:28 PM EDT
    Alibaba Group Holding Ltd founder Jack Ma (C) rings a ceremonial bell to start trading during his company's initial public offering (IPO) under the ticker "BABA" at the New York Stock Exchange

    Alibaba Group Holding Ltd's (BABA.N) shares soared 38 percent in their first day of trading on Friday as investors jumped at the chance for a piece of what is likely to rank as the largest IPO in history, in a massive bet on China's burgeoning middle class. It was an auspicious debut for the Chinese e-commerce company, …

  • Online video streaming service Netflix Inc told Canada's broadcast regulator on Friday that it opposes paying to support "old media" and its own commercial interests and market dynamics were enough to ensure it distributed Canadian content. The submissions from Netflix came on the last day of a two-week hearing on the …

  • Exxon winds down drilling as U.S. sanctions hit Russia Reuters - Fri, Sep 19, 2014 5:07 PM EDT

    Exxon Mobil said on Friday it will wind down drilling in Russia's Arctic in the face of U.S. sanctions targeting Western cooperation with Moscow's oil sector, after the Obama administration granted a brief ...

  • CANADA STOCKS-TSX falls most in months on broad weakness Reuters - Fri, Sep 19, 2014 4:59 PM EDT

    * TSX ends down 200.19 points, or 1.29 percent, at 15,265.35 * All 10 main sectors are in the red (Adds strategist comment, updates prices to close) By Alastair Sharp TORONTO, Sept 19 (Reuters) - Canada's main stock index took its sharpest one-day hit in seven months on Friday as a broad array of stocks from banks to telecommunications …

  • Instead, the Financial Industry Regulatory Authority's board of governors authorized the regulator to ask the industry for input about a more general disclosure. This would require firms that lure brokers away from competitors to give an "educational communication" about brokerage firm recruitment practices to clients …

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