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Updated: 15 min 58 sec ago

Banks seek loan repayment from Brazil oil rig maker - report

Sat, 21/03/2015 - 15:42
BRASILIA (Reuters) - Five Brazilian banks are joining British lender Standard Chartered Plc in seeking early repayment of loans to oil rig producer Sete Brasil Participações SA, which has been hit by a corruption scandal involving its main client Petrobras, the Estado de S.Paulo newspaper reported on Saturday.

Russia will have to sharply lower gas price, Ukraine says

Sat, 21/03/2015 - 14:56
BRUSSELS (Reuters) - Ukraine is confident Russia will have to sharply lower the price it charges Kiev for gas as increased imports from the European Union have greatly reduced Ukraine's reliance on supplies from Gazprom , Ukraine's energy minister said on Saturday.

Germany's SPD won't back down in U.S. trade talks

Sat, 21/03/2015 - 13:31
BERLIN (Reuters) - Germany's economy minister has promised to block any clauses in a trade deal between the European Union and the United States that go against the ideals of his centre-left Social Democrats (SPD), including investor protection clauses wanted by the Americans.

Lufthansa pilots on strike for fourth straight day

Sat, 21/03/2015 - 12:41
FRANKFURT (Reuters) - Pilots at Lufthansa staged a fourth straight day of walkouts on Saturday, grounding almost half of the German airline's lucrative long-haul flights in a protracted row over early retirement benefits and cost cuts.

Austrian finance minister sees lack of trust in Greece

Sat, 21/03/2015 - 12:26
VIENNA (Reuters) - Greece must cooperate with international creditors and boost confidence among its euro zone partners about economic reforms, Austrian Finance Minister Hans Joerg Schelling said in a radio interview, adding a lack of trust was a major problem.

Russian finance minister - Rouble rate will not change much in near future

Sat, 21/03/2015 - 10:51
MOSCOW (Reuters) - The Russian rouble should not change much in value in the near future even if the oil price changes, Russian Finance Minister Anton Siluanov was quoted as saying on Saturday.

Yuan level appropriate, reflects fx supply, demand - China central bank

Sat, 21/03/2015 - 09:02
BEIJING (Reuters) - The current level of China's yuan is appropriate because it reflects foreign exchange supply and demand and economic fundamentals, a top central bank researcher said on Saturday, playing down talk of suspected official intervention.

HSBC sued by U.S. credit union group over mortgage-backed securities

Fri, 20/03/2015 - 23:17
WASHINGTON (Reuters) - The National Credit Union Administration Board filed suit against HSBC Bank USA, alleging it did not fulfil trustee duties for 37 residential mortgage-backed securities trusts, the group said on Friday.

Merkel sets strict terms for Greek aid, Juncker flags EU cash

Fri, 20/03/2015 - 23:07
BRUSSELS (Reuters) - European Union leaders welcomed a pledge on Friday from Greece to meet creditors' demands for a broad package of economic reform proposals within days to unlock the cash Athens needs to avoid stumbling out of the euro zone.

Deutsche Bank eyes financial hit from 2010 Korea brokerage case

Fri, 20/03/2015 - 20:39
FRANKFURT (Reuters) - Deutsche Bank said it faces potential damages of about 250 million euros (181 million pounds) in relation to a 2010 Korean stock market manipulation case, which at the time resulted in a six-month trading ban for Germany's flagship lender.

Holcim wins better terms to get Lafarge tie-up back on track

Fri, 20/03/2015 - 20:01
PARIS/ZURICH (Reuters) - Switzerland's Holcim and France's Lafarge have agreed new terms for their plan to create the world's top cement business, giving unhappy shareholders in the Swiss company a better deal but leaving a key leadership question unanswered.

Sete Brasil says Standard Chartered seeks early loan repayment

Fri, 20/03/2015 - 19:26
SAO PAULO (Reuters) - Oil rig producer Sete Brasil Participações SA said on Friday that British lender Standard Chartered Plc is seeking early repayment of a loan, as fallout from a corruption scandal involving the Brazilian firm's main client cuts access to fresh financing.

Lufthansa long-haul routes to be hit by Saturday strike

Fri, 20/03/2015 - 18:56
FRANKFURT (Reuters) - Lufthansa cancelled almost half of its lucrative long-haul flights scheduled for Saturday as pilots planned a fourth straight day of walkouts in a protracted row over early retirement benefits and cost cuts.

IMF's Lagarde says inclusion of China's yuan in SDR basket question of when

Fri, 20/03/2015 - 18:47
SHANGHAI (Reuters) - China's yuan at some point would be incorporated in the International Monetary Fund's Special Drawing Right (SDR) currency basket, IMF Managing Director Christine Lagarde said on Friday.

S&P raises Portugal outlook, leaves rating lowest among Big 3

Fri, 20/03/2015 - 18:15
LISBON (Reuters) - Ratings agency Standard & Poor's upgraded Portugal's credit outlook to positive from stable on Friday, citing better growth prospects, but left its rating two notches below investment grade at the lowest level among the leading raters.

Sabadell eyes more UK deals after 1.7 billion-pound TSB takeover

Fri, 20/03/2015 - 17:40
LONDON/MADRID (Reuters) - Spain's Banco Sabadell could look to expand further in Britain after agreeing a 1.7 billion pound ($2.5 billion) takeover of TSB , one of the biggest cross-border banking deals since the financial crisis of 2007-09.

UK public finances improve in February, leaving Osborne on course for target

Fri, 20/03/2015 - 17:36
LONDON (Reuters) - Chancellor George Osborne could beat his government borrowing target for this year after public finances improved sharply last month, bolstering his pitch to voters ahead of a national election in May.

FTSE races to record highs as CRH climbs

Fri, 20/03/2015 - 17:19
LONDON (Reuters) - Britain's top share index hit record highs on Friday, vaulting above 7,000 points for the first time in its history.

Bank tax rise stokes pressure for Standard Chartered, HSBC to quit UK

Fri, 20/03/2015 - 17:05
LONDON (Reuters) - Asia-focused banks Standard Chartered and HSBC could be tempted to abandon their London headquarters to avoid a jump in the UK bank tax set to cost them a combined $2 billion (1.36 billion pounds) a year, investors and analysts said.

Bank of England says will apply new insurance rules 'proportionately'

Fri, 20/03/2015 - 13:35
LONDON (Reuters) - The Bank of England said on Friday that it would apply new European Union insurance regulations "proportionately", following industry fears that the central bank might seek to add extra rules for companies based in Britain.