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Financial News from Reuters

  • LONDON/FRANKFURT, March 1 (Reuters) - German utility RWE will complete a 5 billion euro ($5.60 billion) deal to sell oil and gas unit DEA to Russian tycoon Mikhail Fridman on Monday, despite a late British move to block part of the sale, the company said on Sunday. The transaction, which will help reduce RWE's 31 …

  • Dutch church bells that for centuries have tolled to warn of floods across the low-lying countryside are sounding the alarm for a new threat: earthquakes linked to Europe's largest natural gas field. "Money can buy a lot of things, but a building like this cannot be replaced," said Jur Bekooy, a civil engineer with …

  • Will Smith's new action drama "Focus" booted the kinky sex tale "Fifty Shades of Grey" for its perch atop U.S. and Canadian weekend box office charts, racking up $19.1 million in ticket sales. Smith, in his first leading role since 2013's "After Earth," plays a seasoned con artist who meets up with an aspiring con …

  • Canadian insurance company Sun Life Financial Inc said it was looking for acquisition opportunities in business areas such as wealth management that are less impacted low interest rates. "We are investing in areas of growth that are less dependent on what interest rates do," Chief Executive Dean Connor told Reuters …

  • Italian Prime Minister Renzi reacts during a joint news conference with NATO Secretary-General Stoltenberg at the end of a meeting at Chigi Palace in Rome

    The Italian government is pushing to speed up the roll-out of ultrafast broadband networks to help its ailing economy, fuelling speculation it could force incumbent Telecom Italia into a costly overhaul ...

  • ATHENS/MADRID, March 1 (Reuters) - Spain's centre-right Prime Minister Mariano Rajoy hit back on Sunday against accusations from Greece's leftist premier that Spain and Portugal had led a conservative conspiracy to topple his anti-austerity government. Greek Prime Minister Alexis Tsipras said Spain and Portugal had …

  • New Internet rules set up industry's next battle Reuters - 1 hour 30 minutes ago
    Illustration file picture shows a man typing on a computer keyboard in Warsaw

    Telecom companies such as AT&T and Vodafone have convinced U.S. and European regulators, finalizing so-called "net neutrality" rules, to allow them to dedicate network capacity to services such as providing connectivity to driverless cars and facilitating the exchange of medical data between patients and health professionals. …

  • Iraq minister sees oil at $64 to $65 per barrel Reuters - 1 hour 36 minutes ago
    Iraq's Oil Minister Mehdi speaks with Kirkuk Governor Karim on the outskirts of Kirkuk

    Iraq's Oil Minister Adel Abdel Mehdi said on Sunday world oil prices were gradually rebounding and he expected to see a barrel of crude selling at around $65. I can see that oil will be sold at $64 to $65 a barrel," he told a news conference in Baghdad. OPEC producer Iraq has been hit by the slump, with revenues falling …

  • Dutch semiconductor equipment maker ASML said on Sunday that it was investigating an unauthorised intrusion into its IT systems, but it had found no evidence that valuable files were accessed. ASML, the world's largest maker of tools for etching out the powerful microchips at the heart of latest-generation smartphones …

  • Mobile industry tiptoes towards 5G Reuters - 2 hours 17 minutes ago
    SIM cards are reflected on a monitor showing binary digits in this photo illustration taken in Sarajevo

    Running short of dramatically new phone designs, leaders of the world's wireless industry agree their next big idea is 5G, shorthand for the fifth generation of networks they expect to have up and running by 2020. "It is unclear what the opportunity or weakness that 5G should address is," researchers at GSMA, the global …

  • Twelve months ago, tumultuous weather in the U.S. Northeast caused record natural gas price spikes and forced some power plants to shut for lack of fuel as power producers scrambled to outbid each other for scarce supplies. This February, the region has shivered through the coldest weather in 81 years, yet gas prices …

  • New China Life Insurance (NCI) Co Ltd , China's third-largest life insurer, said on Sunday it had aborted the planned sale of a stake to a strategic investor which was to help it develop its Internet insurance business. New China Life didn't disclose the name of the investor, but state newspaper Shanghai Securities …

  • The logo of French telecom operator Orange is seen during the company's 2013 annual results presentation in Paris

    France's Orange and Italy's telecom operator Telecom Italia have been discussing a possible alliance between the former monopolies, Orange's chief executive told the Journal de Dimanche. "There are no negotiations ongoing just exchanges of points of view between the two management teams," said Orange's CEO Stephane Richard. …

  • German services union Verdi has called a strike at Deutsche Bank unit Postbank on Monday over pay and job guarantees, the union said on Sunday. A large number of Postbank branches around Germany would ...

  • Congress narrowly averted a partial shutdown of the U.S. domestic security agency late on Friday night, but the forces behind the chaotic episode remain - fractious Republicans and House Speaker John Boehner's lack of control over them. In five to seven months, the federal debt ceiling will again be reached, and by …

  • Journalists attend the presentation of the Huawei's new smartphone, the Ascend P7, launched by China's Huawei Technologies in Paris

    Chinese telecom equipment maker Huawei [HWT.UL] on Sunday launched its first smartwatch, a round-faced device that works with Android phones, joining a crowded market weeks before the introduction of the highly anticipated Apple Watch. At an event tied to the Mobile World Congress in Barcelona, the firm unveiled its Huawei …

  • NEW DELHI/MUMBAI, March 1 (Reuters) - India's reform-minded prime minister, Narendra Modi, appears to have passed a major test with a budget that pleased economists and investors with pledges to spend more on modernising India's ageing roads and railways while keeping borrowing in check. The budget presented by Finance …

  • Two U.S. astronauts left the International Space Station on Sunday for a seven-hour spacewalk to install communications and navigation aides for new commercial space taxis. Station commander Barry "Butch" Wilmore and flight engineer Terry Virts floated outside the station's Quest airlock shortly after 7 a.m. EST/1200 …

  • Sun Art Retail Group Ltd on Sunday reported a 4.8 percent rise in 2014 profit, as China's biggest hypermarket chain continued to expand into lower-tier cities. The joint venture between Taiwanese conglomerate ...

  • German Finance Minister Schaeuble attends session of Bundestag in Berlin

    Germany will spend more on defense in coming years in response to growing global instability, Finance Minister Wolfgang Schaeuble said in an interview published on Sunday. Asked which ministry could expect more money in future, Schaeuble said he had suggested that Germany moderately boost spending on development aid.

  • Abu Dhabi's General Holding Corp (Senaat), a major state-owned investor in the emirate's industrial sector, has shelved plans to go public but instead is considering options to sell shares in one of its subsidiaries, its chairman said on Sunday. It has taken two of its subsidiaries public, food and beverage company …

  • A Greek and a European flag flutter outside the Greek embassy in Brussels

    The latest episode of Greece's debt crisis has revived doubts about the long-term survival of the euro, nowhere more so than in London, Europe's main financial center and a hotbed of Euroskepticism. The heightened risk of a Greek default and/or exit comes just as there are signs that the euro zone is turning the corner …

  • A picture illustration shows Euro banknotes in Zenica

    Greek funding and quantitative easing in Europe, an expected rate cut in Australia and the buoyant U.S. labor market are set to be the focus of an economic week dominated by a host of central bank meetings. The European Central Bank's Governing Council convenes in Cyprus on Thursday and may take a decision on whether to …

  • The Apple logo is pictured at its flagship retail store in San Francisco

    The main talking point at this week's Geneva car show is likely to be a vehicle that may never be built: the Apple car. The world's automakers will gather in the Swiss city to tout their latest minivans, city cars and sport utility vehicles against an uncertain market backdrop, with growing signs of recovery in Europe …

  • The mass-market convertible car emits its last gasp this week at a Geneva motor show bristling with sport utility vehicles and low-cost models -- more evidence of the pragmatism of European consumers marked by years of austerity. Mainstream brands from Peugeot to Volkswagen are quietly axing cabriolets, as customers …

  • The main talking point at this week's Geneva car show is likely to be a vehicle that may never be built: the Apple car. The world's automakers will gather in the Swiss city to tout their latest minivans, city cars and sport utility vehicles against an uncertain market backdrop, with growing signs of recovery in Europe …

  • Israeli real estate investment firm Gazit-Globe said on Sunday its wholly owned subsidiary Gazit Brasil will buy the remaining 40 percent of Mais Shopping in the city of Sao Paulo for 75 million reais ...

  • Qatari investment firm Mannai Corporation is working on two acquisitions as part of a drive to expand the proportion of its revenue from international sources to 80 percent, its chief executive told Reuters. Foreign investment from the Gulf state is normally associated with multi-billion-dollar deals by the Qatar …

  • Activity in China's factory sector contracted for a second straight month in February on unsteady exports and slowing investment, an official survey showed on Sunday, reinforcing bets that more policy loosening is needed to lift the economy. A separate official services PMI, also released on Sunday, showed growth …

  • Activity in China's factory sector contracted for a second straight month in February, according to an official survey released on Sunday, only hours after the Chinese central bank cut interest rates to try to boost slowing momentum. A housing slump, erratic export performance and a state-led slowdown in investment …

  • The North American Car of the Year, the 2012 Hyundai Elantra, is shown on a billboard during the first press preview day for the North American International Auto Show in Detroit

    Hyundai Corp is recalling 204,768 Elantras because of a power steering defect that might cause the cars to suddenly revert to manual steering, the company said Saturday in a report filed with U.S. auto safety regulators. The recall affects four-door Elantra sedans produced from June 1, 2008, to April 30, 2010, and 2009-10 …

  • Enders CEO of Airbus Group attends company's annual news conference in Munich

    Airbus Group Chief Executive Tom Enders has given the strongest hint yet that he may seek a new term as head of Europe's largest aerospace company, telling a French newspaper he does not feel ready for retirement when his mandate expires next year. Asked by Le Journal du Dimanche about his priorities for the coming year, …

  • Financial investor Warren Buffett looks on during an announcement ceremony at Northwestern University in Evanston

    In his 50 years at the helm of Berkshire Hathaway Inc, Warren Buffett has transformed a failing textile company into a sprawling conglomerate that has vastly outperformed most of the rest of corporate America. In the 84-year-old's annual shareholder letter released on Saturday, Buffett said Berkshire has grown so large …

  • Warren Buffett released his annual letter to Berkshire Hathaway (BRKa.N) shareholders on Saturday, written with his usual mix of business facts, common-sense advice and showmanship. "Periodically, financial markets will become divorced from reality – you can count on that.

  • Buffett, Chairman of the Board and CEO of Berkshire Hathaway, poses for a portrait in New York

    Warren Buffett, the billionaire chief executive of Berkshire Hathaway Inc, told investors on Saturday that the company had found his successor, and the company's vice chairman, Charlie Munger, identified two Berkshire executives as candidates. "'World-leading' would be the description I would choose," Munger said in a …

  • Berkshire Hathaway CEO Buffett bites into an ice cream during a trade show at the company's annual meeting in Omaha

    Warren Buffett wants to buy more businesses to add to Berkshire Hathaway Inc's "sprawl," but cautioned it may not keep the company he has run for 50 years from evolving into something rarely used to describe it up until now: average. In his annual letter to shareholders, Buffett on Saturday said Berkshire's huge balance …

  • Britain has blocked a deal by Russian billionaires, Mikhail Fridman and German Khan, to buy 12 oil and gas fields in the North Sea as part of their acquisition of Germany's oil firm DEA from RWE, citing possible sanctions against Russia. "If the proposed acquisition were to proceed in its current form, he (Energy …

  • -- Source link: -- Note: Reuters has not verified this story and does not vouch for its accuracy

  • MEDIA-Tesla Motors nearly doubled staff In 2014 -WSJ Reuters - Sat, Feb 28, 2015 11:09 AM EST

    -- Source link: -- Note: Reuters has not verified this story and does not vouch for its accuracy

  • The Herbalife logo is seen on a building housing some of their offices in downtown Los Angeles, California

    Herbalife Ltd (HLF.N) cut the pay of Chief Executive Michael Johnson 36 percent for 2014 after the nutrition and weight loss company failed to meet performance goals set for him and other top executives, according to a securities filing on Friday. Herbalife said Johnson, who is also chairman, received total compensation …

  • Herbalife cuts pay of CEO Johnson 36 pct after missed targets Reuters - Sat, Feb 28, 2015 10:28 AM EST

    Herbalife Ltd cut the pay of Chief Executive Michael Johnson 36 percent for 2014 after the nutrition and weight loss company failed to meet performance goals set for him and other top executives, according to a securities filing on Friday. Herbalife said Johnson, who is also chairman, received total compensation of …

  • Berkshire Hathaway net falls, operating profit rises Reuters - Sat, Feb 28, 2015 9:32 AM EST
    Berkshire Hathaway CEO Warren Buffett listens to a shareholder at the Berkshire-owned Borsheims jewelry store where Buffett was selling jewelry as part of the company annual meeting weekend in Omaha

    Warren Buffett's Berkshire Hathaway Inc on Saturday said fourth-quarter profit declined 17 percent as investment gains declined, but operating results improved. Earnings fell short of analyst forecasts ...

  • Grocer Whole Foods Market Inc rescheduled its annual investor meeting to September 15 after regulators withdrew support for its plan to skip a shareholder resolution. Whole Foods of Texas gave the new date in a securities filing on Friday, pushing back a meeting originally planned for March 10. The meeting had drawn …

  • Greek PM accuses Spain, Portugal of anti-Athens "axis" Reuters - Sat, Feb 28, 2015 8:26 AM EST

    Greece's leftist Prime Minister Alexis Tsipras accused Spain and Portugal on Saturday of leading a conservative conspiracy to topple his anti-austerity government, saying they feared their own radical forces before elections this year. Tsipras also rejected criticism that Athens had staged a climbdown to secure an …

  • India's federal government on Saturday kept its healthcare budget for 2015-16 on a tight leash and asked states to contribute more funds for running the country's flagship health programmes. The government announced 297 billion rupees ($4.81 billion) for its main health department, roughly 2 percent higher than current …

  • Exxon Mobil Corp and three other large energy companies failed to block shareholder resolutions on director nomination rules put forth by New York City pension funds, making it more likely investors will get to vote on the hot issue this spring. The Securities and Exchange Commission rejected requests by Exxon, Chevron …

  • China's central bank cut interest rates on Saturday, just days before the annual meeting of the country's parliament, in the latest effort to support the world's second-largest economy as its momentum slows and deflation risks rise. The central bank said the 25 basis point cut in the benchmark interest rate to 5.35 …

  • BP ex-chief Browne to run Russian oligarchs' oil venture: FT Reuters - Sat, Feb 28, 2015 7:43 AM EST
    John Browne listens to a question during a television interview in central London

    Browne told the newspaper he will be appointed executive chairman of L1 Energy on Monday, giving up his jobs at private equity firm Riverstone and UK gas explorer Cuadrilla. The appointment comes as L1 Energy, backed by investment funds owned by Fridman and his partner German Khan, prepares to complete as early as next …

  • No big bang, but Indian budget goes for growth, investment Reuters - Sat, Feb 28, 2015 6:59 AM EST

    Indian Finance Minister Arun Jaitley on Saturday announced a budget that put boosting growth before painful reforms, slowing the pace of fiscal deficit cuts and seeking to put domestic and foreign capital to work. In his first full-year budget since Prime Minister Narendra Modi's landslide election victory last May, …

  • A HSBC logo is pictured at a Swiss branch of the bank in Geneva

    HSBC (HSBA.L), in the spotlight after details emerged about how its Swiss unit allegedly helped clients dodge taxes, isn't the troublemaker it is currently depicted as, the head of a rival private bank was quoted saying on Saturday. "HSBC has been described as the troublemaker in class, and it is not," Carlos Esteve, founder …

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