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Financial News from Reuters

  • Consumer goods maker Reckitt Benckiser Group stood by its 2014 financial targets on Wednesday despite unusually weak sales of disinfectants and signalled it was leaning toward spinning off its declining pharmaceuticals business. The British company said a strategic review of Reckitt Benckiser Pharmaceuticals (RBP) that …

  • * Enters cooperation with Google's Nest to sell thermostats * Does not see final ruling on nuclear fuel tax in 2014 * Shares up 0.7 percent (Adds details on nuclear fuel tax, Nest cooperation) ESSEN, Germany, April 16 (Reuters) - Germany's RWE said it expected its net income to stabilise beyond 2014, albeit at lower …

  • A man makes his way past a replica of a one drachma coin outisde the Athens Town Hall

    A shock drop in March euro zone inflation to its lowest level since November 2009 was confirmed on Wednesday, keeping pressure on the European Central Bank to intervene should prices not rebound. The year-on-year inflation rate in the 18 countries sharing the euro was 0.5 percent in March against 0.7 percent in February, …

  • Tesco, Britain's biggest retailer, said it would slash millions of pounds off prices to win back customers as a second year of falling profit stepped up pressure on chief executive Philip Clarke to quit. Shares in the group, which are near 10-year lows, jumped over 5 percent in early trade as Clarke said he would respond …

  • Governments and companies from the developing world are increasingly turning to euro debt markets, lured by the falling costs of borrowing there and European investors' clamour for relatively higher returns. Romania sold a 10-year euro-denominated bond on Tuesday yielding 3.625 percent, following on the heels of Turkey …

  • Italy, Spain shine as Ukraine crisis hots up Reuters - 1 hour 10 minutes ago

    * Peripheral yields dip amid Ukraine tensions * Ireland, Spain mull liability management plans LONDON, April 16 (Reuters) - Italian and Spanish yields dipped on Wednesday morning, offering a combination of relatively safe and high returns that continued to attract investors with one eye on the developing crisis in Ukraine. …

  • BEIJING/WASHINGTON, April 16 (Reuters) - China rejected on Wednesday a warning from the Obama administration that its currency was too weak, urging the United States to recognise that China aims to "perfect and regulate" the exchange rate system. The Obama administration on Tuesday warned China that its currency was too …

  • * Japan finmin upbeat on economy, offers hint of pension fund action * Euro ticks up against dollar ahead of final inflation LONDON, April 16 (Reuters) - The yen fell against the dollar and the euro on Wednesday, hit by comments by Japan's finance minister that traders took as a sign of future buying by its giant state …

  • * Euro STOXX 50 up 0.9 pct, moves back above 50-day moving average * Credit Suisse, Danone drop after posting lower results PARIS, April 16 (Reuters) - European shares rose early on Wednesday, reversing the previous session's losses as data showed economic growth in China a touch above forecasts, while gains in Tesco …

  • PRESS DIGEST- Canada- April 16 Reuters - 1 hour 40 minutes ago

    The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy. THE GLOBE AND MAIL * Calgary police allege Matthew de ...

  • A man smokes a cigarette outside The London Stock Exchange

    Share markets made broad gains on Wednesday after China reported economic growth a touch above forecasts, a relief for investors who had feared a much weaker outcome. China's economy grew 7.4 percent in the first quarter, from a year earlier, pipping forecasts of 7.3 percent. The relief rippled through Asian markets, …

  • * China GDP grows 7.4 pct y/y, just pipping forecasts * Markets relieved growth was not much weaker * European shares rebound after recent falls * Nikkei leads the way, encouraged by late rally on Wall St * UK, euro zone data in focus, Ukraine tensions simmer By Marc Jones LONDON, April 16 (Reuters) - Share markets made …

  • Japan's Chief Cabinet Secretary Yoshihide Suga said on Wednesday that Japanese share price decline in April has not been significant. The benchmark Nikkei rose 3 percent on Wednesday to post its biggest ...

  • Bank of Japan Governor Kuroda gestures as he listens to questions during a news conference at the BOJ headquarters in Tokyo

    Bank of Japan Governor Haruhiko Kuroda on Wednesday affirmed the central bank's upbeat view of the economy, even as global financial markets wobble, stressing that growth will pick up around mid-year as the sting of a sales tax hike fades. Price rises will broaden as the economy continues to improve gradually, Kuroda added, …

  • File photo of an employee walking past a logo of Alibaba Group at its headquarters on the outskirts of Hangzhou

    Alibaba Group Holding Ltd's revenue growth accelerated in the last quarter of 2013, a timely lift for the Chinese Internet company as it prepares to file a prospectus next week for its highly anticipated initial public offering. Alibaba is expected to file prospectus for the share sale as early as Monday, sources said, …

  • Annual inflation in the United Arab Emirates edged up to 1.9 percent in March, its highest level since October 2010, from 1.8 percent in February, data from the National Bureau of Statistics showed on ...

  • Insurer RSA's head of UK and Western Europe quits Reuters - 2 hours 19 minutes ago

    The head of British insurer RSA's UK and Western Europe business has resigned ahead of a strategic shakeup, the group's second top-level management change in two days. RSA on Wednesday said Adrian Brown, who has worked at the group for 25 years, has resigned from the board but will stay in his executive role until a successor …

  • * PM Abe puts focus on ROE, a tailwind for some internet firms * Foreign investors eye nimble, founder-led firms TOKYO, April 15 (Reuters) - Some Japanese Internet companies are getting a boost from foreign investors as Prime Minister Shinzo Abe pushes for an elusive strength his country's firms are not known for - high …

  • China said on Wednesday that it will push forward with reform of its renminbi exchange rate mechanism after the United States criticised Beijing for keeping its currency weak. China hopes the United States ...

  • * IPO filing could come as soon as Monday - sources * Shares in Alibaba shareholders Yahoo, Softbank jump (Adds IPO filing expected next week, share moves) SAN FRANCISCO, April 15 (Reuters) - Alibaba Group Holding Ltd's revenue growth accelerated in the last quarter of 2013, a timely lift for the Chinese Internet company …

  • * German RWE begins small gas deliveries to Ukraine * Russia to start laying South Stream pipes in autumn VELKE KAPUSANY, Slovakia/FRANKFURT, April 15 (Reuters) - U nprecedented talks across the European Union on Tuesday showed it scrambling for solutions on the ground to break its dependence on Russian gas and help supply …

  • * Robot may take months to scan and map search zone PERTH, Australia, April 16 (Reuters) - The search for a Malaysia Airlines jetliner deep in the Indian Ocean was again cut short on Wednesday when technical problems forced a U.S. Navy underwater drone to surface without finding anything, officials said. While a massive …

  • Credit Suisse Q1 profit falls as trading tumbles Reuters - 2 hours 32 minutes ago

    Credit Suisse said on Wednesday its first-quarter net profit fell by more than a third on the year as revenue from bond-trading tumbled, raising question marks over the bank's investment banking strategy. The bank said in its quarterly statement, which comes before those of European rivals such as Deutsche Bank and Barclays, …

  • European shares bounce back as Tesco advances Reuters - 2 hours 35 minutes ago

    European shares advanced on Wednesday to bounce back from the previous session's losses after China reported economic growth a touch above forecasts, while a rise in retailer Tesco also lifted markets. The euro zone's blue-chip Euro STOXX 50 index also rose 1 percent, to 3,122.50 points. A 4 percent rise in Tesco gave …

  • An annual meeting of Turkey's central bank on Thursday will be closely watched for signs that Prime Minister Tayyip Erdogan's government, strongly opposed to high interest rates, is trying to boost its influence over monetary policy. Economists say the normally innocuous general assembly, at which executives and technocrats …

  • * Sees H1 sales of 3 bln euros including EUV sales * Previously saw 3 bln euros of sales excluding EUV AMSTERDAM, April 16 (Reuters) - ASML, the world's biggest manufacturer of tools for semiconductor chip makers, cut its first-half sales forecast on Wednesday, blaming slower second-quarter sales to some customers. The …

  • The following are the top stories on the New York Times business pages. * Detroit's pension boards and a retirees' group say they have reached tentative agreements with the city that could serve as a breakthrough in its quest to settle with its major creditors and propel itself out of bankruptcy before the end of the year. …

  • The head of British insurer RSA's UK and Western Europe business has resigned ahead of a strategic shakeup, to take a new role at broker AJ Gallagher. In a statement on Wednesday, RSA said Adrian Brown, who has worked at the group for 25 years has resigned from the board but will stay in his executive role until a successor …

  • A labourer works at a construction site in Hangzhou

    China's economy grew at its slowest pace in 18 months at the start of 2014, but did a touch better than expected and showed some improvement in March, suggesting Beijing will not rush to follow up recent ...

  • China's economy grew at its slowest pace in 18 months at the start of 2014, but did a touch better than expected and showed some improvement in March, suggesting Beijing will not rush to follow up recent steps to support activity. The economy grew 7.4 percent in the January-March quarter from a year earlier, the National …

  • File photo of an employee walking past a logo of Alibaba Group at its headquarters on the outskirts of Hangzhou

    Chinese e-commerce giant Alibaba Group Holding Ltd. is expected to file the prospectus for its U.S. initial public offering next week, sources said on Wednesday, moving closer to what could be the biggest-ever ...

  • Bank of Japan Governor Haruhiko Kuroda said on Wednesday that long-term interest rates are moving stably due to the central bank's massive bond buying, even as inflation expectations heighten as a trend. ...

  • Mexico's telecom watchdog on Wednesday set a minimum bid price of 830 million pesos ($63.37 million) for two new free-to-air channels which are up for grabs as part of an effort to increase competition in the country's television and phone sectors. The IFT last month laid out the bidding process for the two concessions, …

  • Japan's Nikkei share average surged on Wednesday after a better performance on Wall Street the day before and comments from Japanese Finance Minister Taro Aso that the market took to suggest more stock ...

  • Britain's biggest retailer Tesco said it expected tough trading to continue as it posted a 6 percent fall in annual profit, its second straight year of decline. The world's third-largest retailer said on Wednesday group trading profit for the year to February 22 was 3.3 billion pounds ($5.52 billion), in line with analysts' …

  • Structure showing the Euro currency sign is seen in front of the ECB headquarters in Frankfurt

    Shares in some of Europe's least profitable and most indebted companies are set to outperform in the coming months if the European Central Bank starts buying corporate bonds to fight the threat of deflation. The ECB has opened the door to the purchase of asset-backed securities such as secured corporate debt to revive …

  • Mark Karpeles, chief executive of Mt. Gox, attends a news conference at the Tokyo District Court in Tokyo

    Mt. Gox, once the world's biggest bitcoin exchange, filed for bankruptcy protection in Japan last month, saying it may have lost some 850,000 bitcoins - worth around $454 million at today's rates - due to hacking into its computer system. Mt. Gox's lawyers declined to comment on the matter. Mt. Gox CEO Mark Karpeles won't …

  • ASML, the world's biggest manufacturer of tools for semiconductor chip makers, altered its sales forecast for the first half, saying it now expects to sell 3 billion euros ($4.15 billion) worth of products including extreme ultraviolet (EUV) systems. The Veldhoven-based company had previously forecast sales of 3 billion …

  • The following are the top stories in the Wall Street Journal. * Under pressure from unhappy clients and losing market share to rivals, Goldman Sachs Group Inc is trying to jump-start its stock-trading business. At recent trading conferences with top clients, including Fidelity Investments and BlackRock Inc( BLK.N), and …

  • Dutch cable operator Ziggo , which accepted a bid by U.S. group Liberty Global , said on Tuesday its core profit fell 4.3 percent in the first quarter, as it spent more to keep its customers and fend off competition. The group, which in January agreed to be bought in a deal that values it at 10 billion euros ($13.82 billion), …

  • * China GDP grows 7.4 pct y/y, just pipping forecasts * Softbank, Yahoo reap the benefits of Alibaba holdings SYDNEY, April 16 (Reuters) - Asian share markets made broad gains on Wednesday after China reported economic growth a touch above forecasts, a relief for investors who had feared a much weaker outcome. China's …

  • A man makes his way inside the reception hall of the Greek Stock Exchange in Athens

    Many stock markets around the world, including those in both developed and emerging countries, are at or near their highest levels ever thanks to central banks propping up the global economic recovery with their ultra-loose monetary policy. In the United States the S&P 500 (.SPX) has almost tripled its level since the …

  • A man uses his mobile phone in front of a giant advertisement promoting Samsung Electronics' new Galaxy S5 smartphone, at an art hall in central Seoul

    Samsung Electronics Co Ltd's new Galaxy S5 smartphone should outsell its predecessor and defy predictions that the South Korean titan's latest model will struggle in a tough market for high-end handsets, a top executive said. The world's biggest smartphone maker has slashed prices of the S5, which rolled out globally on …

  • Goldman Sachs is planning to jump-start its stock-trading business after top clients such as Fidelity Investments and BlackRock Inc voiced concerns about the way Goldman and other firms trade stocks, the Wall Street Journal reported, citing people familiar with the matter. Money managers are concerned that the stock market …

  • * BHP lifts full-year iron ore guidance by 5 million tonnes * March quarter iron ore output up 1 pct vs Dec quarter (Adds price forecasts, Fortescue CEO quotes, link to tables) SYDNEY, April 16 (Reuters) - Australian miners are racing ahead with plans to expand iron ore production to capture more of the Chinese market …

  • File photo of traders in the corn options pit at the CME Group signaling orders shortly before the closing bell in Chicago

    NEW YORK/CHICAGO (Reuters) - Just over a week ago, CME Group Inc suffered the worst-ever trading outage on the world's most important agricultural markets, plunging electronic screens into darkness and sending dozens of traders scrambling for Chicago's famous but now often deserted trading "pits". It seemed like an impossible …

  • Chinese e-commerce giant Alibaba Group Holding Ltd. is expected to file the prospectus for its U.S. initial public offering next week, sources said on Wednesday, moving closer to what could be the biggest-ever ...

  • Michigan officials and President Barack Obama's Administration are discussing a plan to free up $100 million in federal money to aid Detroit's retired city workers, the Detroit Free Press reported on Tuesday. Citing two people familiar with the talks, the newspaper said the talks were centered around federal money flowing …

  • * China Q1 GDP +7.4 pct y/y, a tad better than expected * Dollar/yen buoyed by Nikkei's surge, stops add to gains * Tokyo shares extend gains on Japan finmin comments on GPIF (Updates prices, adds comments) SINGAPORE, April 16 (Reuters) - The Australian dollar pared losses on Wednesday after China's first-quarter economic …

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