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Updated: 18 hours 42 min ago

EU's plans for growth to bring shadow banking in from the cold

Mon, 24/03/2014 - 06:26
LONDON (Reuters) - European Commission proposals due to be published on Thursday on how to fund long-term investments to boost Europe's economies brings the start of a rehabilitation for the image of "shadow banking", the largely unregulated market-based provision of credit which lay at the heart of the financial crisis.

New worries on China growth as flash PMI shows contraction

Mon, 24/03/2014 - 05:48
BEIJING (Reuters) - China's manufacturing engine contracted in the first quarter of 2014, a preliminary private survey showed on Monday, raising market expectations of government stimulus to arrest a loss of momentum in the world's second-largest economy this year.

Shell sees 'minor' impact in higher U.S. gas exports to Europe

Mon, 24/03/2014 - 05:46
GOYANG, South Korea (Reuters) - Growing interest in sending more U.S. natural gas to Europe does not hold a big threat for Asian gas markets, although such exports would help improve spot market liquidity for the super-chilled form of the fuel, a Shell executive said on Monday.

China's Huawei condemns reported NSA snooping

Sun, 23/03/2014 - 13:48
BERLIN (Reuters) - Chinese telecom and internet company Huawei defended is independence on Sunday and said it would condemn any infiltration of its servers by the U.S. National Security Agency if reports of such activities by the NSA were true.

German public-sector strike to affect Frankfurt airport

Sun, 23/03/2014 - 13:44
FRANKFURT (Reuters) - German services trade union Verdi said it would extend strike calls in support of higher public sector pay to staff at Frankfurt airport next Thursday, adding to a list of actions likely to hamper German air traffic.

China premier says environment protection will spur growth

Sun, 23/03/2014 - 12:58
BEIJING (Reuters) - Chinese Premier Li Keqiang said on Sunday that efforts to improve the country's environment would create new business opportunities, state news agency Xinhua reported.

Sinopec to cut spending as fourth-quarter profit drops 35 percent

Sun, 23/03/2014 - 12:04
HONG KONG (Reuters) - China Petroleum and Chemical Corp (Sinopec Corp) reported a 35 percent drop in fourth quarter net profits, bigger than expected, as improved profitability at its refining division was offset by a dip in upstream earnings.

Credit Suisse could cut up to 500 jobs at private bank - report

Sun, 23/03/2014 - 11:54
ZURICH (Reuters) - Credit Suisse could cut up to 500 jobs at its private bank as part of a cost-saving drive, a Swiss newspaper reported on Sunday.

IMF's Lagarde says can't do much about reform without U.S. support

Sun, 23/03/2014 - 11:43
BEIJING (Reuters) - International Monetary Fund chief Christine Lagarde said on Sunday that there was not much she should could to push reform at her organisation and give emerging economies a bigger say without the support of the United States.

Emerging Europe - the new hunting ground for bad loan investors

Sun, 23/03/2014 - 10:02
WARSAW/BUDAPEST (Reuters) - Central and eastern European countries are turning up the pressure on banks to clean up their balance sheets, creating new opportunities for bad loan investors that are seeing returns dwindle in recovering euro zone economies.

China top leader reaffirms economic reforms

Sun, 23/03/2014 - 03:49
BEIJING (Reuters) - Chinese Vice Premier Zhang Gaoli reaffirmed to a group of visiting senior foreign executives and officials on Sunday that the country will introduce market-based interest rates and a market-based exchange rate for the yuan currency.

Greek central banker defends stress test results - paper

Sat, 22/03/2014 - 21:24
ATHENS (Reuters) - An 'unduly conservative' approach in stress tests on Greece's major banks would have scared off investors, the head of Greece's central bank said on Saturday, adding that he believed the results would be close to EU-wide tests due later this year.

ECB won't adopt threshold-based rate guidance - Constancio

Sat, 22/03/2014 - 20:01
WASHINGTON (Reuters) - The European Central Bank will not tie interest-rate policy to specific economic thresholds, a top policymaker said on Saturday.

U.S. eyes bankruptcy link in GM ignition defect probe - report

Sat, 22/03/2014 - 16:33
WASHINGTON (Reuters) - Federal authorities are investigating whether General Motors hid an ignition switch defect when it filed for bankruptcy in 2009, The New York Times reported on Saturday.

Swisscom has up to $1.9 billion for acquisitions - paper

Sat, 22/03/2014 - 14:17
ZURICH (Reuters) - Telecoms group Swisscom has 1.6-1.7 billion Swiss francs (1.09-1.1 billion pounds) ) available for acquisitions in Switzerland and Italy, the company's chief financial officer said in an interview published on Saturday,

Ukraine crisis gives new impetus to EU-U.S. trade talks, U.S. says

Sat, 22/03/2014 - 12:09
BRUSSELS (Reuters) - Russia's annexation of Crimea underlines the need for the United States and the European Union to substantially deepen their economic ties, Washington's top trade official said on Saturday, opening the door to U.S. exports of natural gas to Europe.

China's central bank to focus on deposit rate reform, ease grip on yuan

Sat, 22/03/2014 - 10:54
BEIJING (Reuters) - China's central bank will focus on liberalising bank deposit rates over the next two years, while loosening its grip on the yuan currency to give greater influence to market forces, a vice governor of the People's Bank of China said on Saturday.

Air Berlin to be delisted; Etihad to lift stake - report

Sat, 22/03/2014 - 10:23
FRANKFURT (Reuters) - Ailing German airline Air Berlin , which is almost 30 percent owned by Abu Dhabi-based Etihad Airways, will be delisted, with Etihad raising its stake to 49.9 percent, German weekly WirtschaftsWoche reported on Saturday.

Liikanen says ECB still has room to cut rates -TV

Sat, 22/03/2014 - 08:58
HELSINKI (Reuters) - The European Central Bank can still cut interest rates further from the current record-low rates, including taking its deposit rate to negative territory, Governing Council member Erkki Liikanen said on Saturday.

Australia mulls extradition of alleged Silk Road moderator

Sat, 22/03/2014 - 05:52
CANBERRA (Reuters) - The Australian government said it is deciding whether to extradite to the United States an alleged moderator of Silk Road, a website where people buy illegal drugs like heroin and cocaine using digital currency bitcoin.