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Financial News from Reuters

  • Britain faced calls on Saturday from some European and Asian countries to move more quickly towards leaving the European Union, but the United States said the process was too sensitive to be rushed. At the first meeting of leading economies since British voters shocked global markets in June by deciding to quit the EU, …

  • Turkey wanted the final communique of the world's financial leaders meeting in China this weekend to include an endorsement of the current government after the failed coup attempt last week, but did not succeed, G20 officials said. Turkey's Deputy Prime Minister Mehmet Simsek, attending the meeting, denied Ankara …

  • Audi CEO, Rupert Stadler speaks during the world premiere of the new Audi A5 and S5 Coupe car at the company's headquarters in Ingolstadt

    Audi aims to have three electric car models by 2020 and for electric vehicles to account for 25 to 30 percent of its sales by 2025, Chief Executive Rupert Stadler told a German newspaper. Audi's electric cars push, reported by Reuters earlier this week, is part of a strategic overhaul following the emissions scandal at …

  • The G20 economies will reiterate their determination to use all policy tools, individually and collectively, to achieve their goal of strong, sustainable and balanced growth, according to a draft of the G20 communique seen by Reuters on Saturday. "We reaffirm our previous exchange rate commitments, including that we will …

  • The world's top economies will work to tackle excess production capacity in steel and some other industries, including government subsidies that have distorted markets, G20 finance officials said on Saturday. The document, which is still subject to change until a final version, adopted the same language agreed by G20 trade …

  • Britain's vote to leave the European Union may dampen global growth, but European fundamentals are strong and the British economy and banking sector are resilient, European financial leaders will tell their counterparts from the biggest economies on Saturday. Finance ministers and central bank governors from 20 of the …

  • Lou Jiwei, China's Minister of Finance speaks at the High-level Tax Symposium held in Chengdu in Southwestern China's Sichuan province

    The world's leading economies will do more to lift global growth and share the benefits more broadly, top policymakers said on Saturday as they sought to deal with fallout from Britain's Brexit vote and counter dissatisfaction with globalization. Finance ministers and central bankers from the Group of 20 nation are huddling …

  • Bank of Japan Governor Haruhiko Kuroda said on Saturday he would ease policy further if necessary to achieve its 2 percent inflation goal, while reiterating a commitment to continue with the current stimulus until prices are anchored there. Speaking to reporters on the sidelines of a G20 meeting of finance ministers and …

  • Turkey expects to complete within a week to 10 days a dossier requesting the extradition from the United States of Muslim cleric Fethullah Gulen, accused by Ankara of masterminding a failed coup, Foreign Minister Mevlut Cavusoglu said on Saturday. Cavusoglu told private broadcaster NTV in an interview the link between …

  • The world's leading economies will do more to lift global growth and share the benefits more broadly, top policymakers said on Saturday as they sought to deal with fallout from Britain's Brexit vote and counter dissatisfaction with globalisation. Finance ministers and central bankers from the Group of 20 nation are …

  • Facing corruption probes that threaten to land her behind bars, former Argentine President Cristina Fernandez described her growing legal troubles as part of a "persecution" of progressive Latin American leaders that has boosted the right in the region. Speaking to foreign media at her Patagonian estate, Fernandez …

  • German Finance Minister Wolfgang Schaeuble said he saw no reason for other countries to try to cushion the blow of Britain's exit from the European Union with more spending. "I believe that is a matter ...

  • Top officials from the Group of Seven rich economies want to see negotiations over Britain's exit from the European Union start as soon as possible, French finance minister Michel Sapin said. "That the markets reacted well, that things remained under control, that there was a need to open the negotiations as soon  …

  • Turkish President Tayyip Erdogan has ordered the closure of more than 1,000 private schools and has extended the period in which suspects can be detained without charge, in his first decree since declaring a three-month state of emergency, the state news agency Anadolu reported on Saturday. Erdogan declared the state …

  • Britain's June 23 referendum decision to leave the European Union has had far-reaching consequences for the world's economy, businesses, investors and politics. Following are the main developments: July ...

  • Bank of Japan Governor Haruhiko Kuroda said on Saturday he would ease policy further if necessary to achieve its 2 percent inflation goal, while reiterating a commitment to continue with the current stimulus until prices are anchored there. Speaking to reporters on the sidelines of a G20 meeting of finance ministers …

  • Britain was unprepared for the outcome of the referendum to leave the European Union and so should be given time to respond, but it should not take too long because of the damaging uncertainty, French Finance Minister Michel Sapin said. Britain voted on June 23 to leave the 28-nation EU, but has not yet given formal …

  • U.S. Treasury Secretary Jack Lew said on Saturday it was important for G20 countries to redouble efforts to boost shared growth using all policy tools, including monetary and fiscal policies as well as structural reforms to boost efficiency. Speaking to reporters at a G20 meeting of finance ministers and central bankers …

  • A Wall Street sign outside the New York Stock Exchange

    A quartet of technology heavyweights will be part of an avalanche of quarterly corporate earnings reports next week that, along with a meeting of Federal Reserve policymakers, could hold the key to whether Wall Street extends its record-breaking rally or loses steam. With second-quarter reporting season kicking into high …

  • U.S. Treasury Secretary Jack Lew said commitments by G20 members to refrain from competitive currency devaluations have helped sustain economic confidence, according to a statement summarising discussions ...

  • Finance officials from the world's major economies start a two-day meeting in China on Saturday where they will confront challenges to global growth from Britain's decision to leave the European Union and consider deeper structural reforms. Worries over currency manipulation will also factor into the discussions, …

  • A Whirlpool logo is seen on a range door at a Whirlpool manufacturing plant in Cleveland

    Britain, where Whirlpool records about $1 billion in revenues, this summer voted to leave the European Union in a vote known as Brexit. A weak pound will reduce revenue and profit, meanwhile the cost to import appliances from other European Union countries, where they are largely manufactured, rises, Fettig said. With …

  • The effectiveness of fiscal and monetary policies is diminishing and major economies should deepen coordination to promote sustainable, balanced growth, China's Finance Minister Lou Jiwei said on Saturday. ...

  • A Hershey's chocolate bar is shown in this photo illustration in Encinitas

    It could also offer the clarity needed for Mondelez International Inc (MDLZ.O) to make a new approach to acquire Hershey. The $12 billion trust, set up by company founder Milton Hershey over a century ago to fund and run a school for underprivileged children, must approve any sale of the company. It rejected a $23 billion …

  • SAO PAULO/RIO DE JANEIRO, July 22 (Reuters) - Brazil's Petróleo Brasileiro SA said on Friday it plans to sell voting control of Petrobras Distribuidora SA after a bidding round for a minority stake in the fuels retailer failed to attract bids that met the state-controlled oil company's needs. Petrobras now plans to …

  • A Brazilian judge overseeing the bankruptcy protection process of phone carrier Oi SA on Friday named auditing and advisory firm PricewaterhouseCoopers as the company's in-court administrator. Judge Fernando Cesar Ferreira Viana, who is based in Rio de Janeiro, also tapped law firm Arnoldo Wald to work alongside PricewaterhouseCoopers …

  • A trader points up at a display on the floor of the New York Stock Exchange

    The U.S. Department of Justice on Thursday sued to block Aetna Inc's (AET.N) $37 billion purchase of Humana Inc (HUM.N) and Anthem Inc’s (ANTM.N) proposed $54 billion buyout of Cigna Corp (CI.N), arguing that they would cut competition and boost rates for patients. The most obvious targets are midsized, national players …

  • Consolidated Edison Inc on Friday asked customers in parts of New York City's borough of Staten Island to conserve energy while the power company worked to repair equipment. Con Edison reduced voltage by 5 percent in parts of northeast Staten Island as a precaution to protect the equipment and maintain service during …

  • Brazil held 10 presumed Islamist militants in isolation cells at a maximum security jail on Friday as police combed their computers and mobile phones for information about possible threats to next month's Olympics in Rio de Janeiro. Brazil's Justice Minister Alexandre Moraes said after the arrests on Thursday that the …

  • British Foreign Secretary Boris Johnson said on Friday he expects the UK to retain the right for its financial firms to sell services across European Union member states after Britain's exit from the bloc. Johnson, speaking to reporters in New York and the United Nations headquarters, also said Britain has been approached …

  • The U.S. Securities and Exchange Commission on Friday approved listing standards for some exchange-traded funds, paving the way for issuers to bring funds to the market in weeks instead of months. Many actively managed funds will now be able to list new ETF products without a separate filing with the SEC, effective …

  • The board of the charitable trust that controls Hershey Co is nearing a resolution with the Pennsylvania Attorney General's office that would avoid a legal row in exchange for reforms on how it is run, people familiar with the matter said. Three trustees, Joseph Senser, Robert Cavanaugh and James Nevels, will have …

  • Unsecured creditors of the bankrupt retailer Sports Authority are seeking to convert the case to a quick liquidation, saying in a Friday court filing the company should not waste its dwindling funds preparing a plan to end its Chapter 11. The Englewood, Colorado-based chain entered Chapter 11 bankruptcy with 464 stores …

  • Donald Trump's 75-minute acceptance speech at the Republican National Convention attracted a bigger U.S. television audience than the same event four years ago but failed to match the all-time record, according to Nielsen data released on Friday. An estimated 32.2 million people tuned in on 10 broadcast and cable …

  • File photo of people walking by the JP Morgan & Chase Co. building in New York

    JPMorgan Chase & Co (JPM.N) will stop settling U.S. government securities transactions for most dealers by the end of next year as it streamlines its business, the bank said on Friday. The change would leave BNY Mellon Corp (BK.N) as the only clearing bank for such transactions between dealers and investors. In the first …

  • Brazil's state-controlled Petróleo Brasileiro SA plans to sell voting control of Petrobras Distribuidora SA, after a bidding round for a minority stake put a low price tag on the fuel distribution unit. ...

  • A former partner at the law firm Fox Rothschild was sentenced on Friday to six months in prison for trading on inside information that a client at his law firm was about to announce a merger, prosecutors said. Herbert Sudfeld, 64, was sentenced by U.S. District Judge Cynthia Rufe in Philadelphia after a federal jury …

  • Mexico's state-owned oil company Pemex will speed up already scheduled fuel imports as the complete shutdown of its fourth-largest refinery enters its fourth day, an official with knowledge of the plans said on Friday. Pemex, which operates six domestic refineries, is also making contingency plans to import additional …

  • Speculators' net bullish bets on U.S. 10-year Treasury note futures fell from their highest in over three years as safe-haven demand for bonds abated on reduced worries about the global economy, according ...

  • People talk as they stand next to a logo of Fiat Chrysler Automobiles (FCA) in Turin

    Fiat Chrysler Automobiles NV (FCHA.MI) said on Friday it is recalling nearly 410,000 vehicles worldwide because of a defect that can lead to a loss of propulsion. The automaker said it will update software and replace wire harnesses to address the electronic issue that appears in a small number of vehicles. The recall …

  • Traders work on the floor of the NYSE

    U.S. stock prices rose on Friday, marking four straight weeks of gains, while sterling dropped on bleak data that raised fears about a possible British recession following the country's June 23 vote to ...

  • Speculators boosted their net long U.S. dollar position this week, to the highest since early June, as investors were encouraged by a spate of strong U.S. economic data that reinforces expectations of ...

  • U.S. stock prices rose on Friday, marking four straight weeks of gains, while sterling dropped on bleak data that raised fears about a possible British recession following the country's June 23 vote to ...

  • Stock markets across Latin American rose on Friday, tracking U.S. stocks helped by stronger manufacturing and tech, but currencies in the region were mixed. Mexico's blue-chip IPC stock index rose 0.36 ...

  • A view of the Goldman Sachs stall on the floor of the New York Stock Exchange

    Goldman Sachs Group Inc (GS.N) will invest 600 million reais ($184 million) in Brazilian storage company Metrofit over the next 6 years, betting on a recovery from the harshest recession since the 1930s, a company executive said on Friday. Metrofit, founded in 2012, is a joint venture between Brazilian real estate company …

  • Goldman Sachs Group Inc will invest 600 million reais ($184 million) in Brazilian storage company Metrofit over the next 6 years, betting on a recovery from the harshest recession since the 1930s, a company executive said on Friday. Metrofit, founded in 2012, is a joint venture between Brazilian real estate company …

  • Canada's main stock index hit its highest close in a year on Friday, notching a fourth straight weekly gain as yield-producing telecom and utility stocks found favor, offsetting a plunge in shares of Valeant ...

  • * Fund managers buy least amount of 10-year debt since March * Foreigners purchase most 30-year bond supply since Oct 2015 (Recast lead, add background) NEW YORK, July 22 (Reuters) - Overseas investors purchased $2.734 billion of U.S. 10-year Treasury notes at an auction in early July, which was the lowest amount …

  • The Environmental Protection Agency will as soon as Monday finalize a scientific finding that greenhouse gases from aviation endanger human health, obligating the United States to regulate emissions from commercial aircraft, sources told Reuters. The EPA's "endangerment finding" requires the agency to implement greenhouse …

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