Posted by editor on April 28, 2017

Euro zone inflation rose by more than expected to the European Central Bank's target and core inflation increased to its highest level in more than three years, according to the first estimates from the EU's statistics agency.
Inflation in the 19 countries sharing the euro was 1.9 percent year-on-year, Eurostat estimated, up from 1.5 percent in March and just short of the four-year high of 2.0 percent recorded in February.

Posted by editor on April 27, 2017

Russia's largest internet group Yandex (O:YNDX) on Thursday raised its sales outlook for the year after settling a dispute with Google (O:GOOGL) over product distribution on the U.S. company's Android operating system.

Google announced a deal with Yandex and Russia's competition watchdog on April 17, pledging to stop requiring manufacturers of Android-based devices to pre-install its search engine and other applications.

Posted by editor on April 26, 2017

U.S. stocks closed higher on Tuesday, after a strong batch of corporate first quarter earnings fuelled risk-on sentiment.
The Nasdaq closed above 6000 for the first ever, while the Dow closed just shy of 21,000, as some of the large-cap constituents of both indexes reported stronger than expected first quarter earnings.
Caterpillar , McDonald’s, 3M and DuPont reported earnings before the opening U.S. bell that exceeded expectations.

Posted by editor on April 25, 2017

SAP, Europe's largest software company, reported slightly lower-than-expected first-quarter core profit as it sold more of its cloud products, which are less profitable.

First-quarter operating profit, excluding special items, for the German software maker rose 8 percent to 1.198 billion euros ($1.30 billion), the company said in a statement on Tuesday.

That was slightly below the average of 1.229 billion euros in a Reuters poll of 13 analysts, with individual estimates ranging from 1.183 billion to 1.298 billion.

Posted by editor on April 24, 2017

Asian markets looked mixed ahead of the open on Monday with centrist Emmanuel Macron took a big step towards the French presidency on Sunday by winning the first round of voting and qualifying for a May 7 runoff alongside far-right leader Marine Le Pen.

EUR/USD traded at 1.0884, after hitting a five-month high of close to $1.0935 against the dollar.

Posted by editor on April 21, 2017

 Chevron Corp (NYSE:CVX) lost an appeal on Friday against the Australian tax office in a landmark case in which the U.S. energy giant contested a tax bill of A$340 million ($260 million), including penalties and interest.

The full bench of the Federal Court dismissed the appeal against an earlier ruling that Chevron underpaid taxes by setting up a A$2.5 billion intercompany credit facility with an abnormally high interest rate which effectively lowered its taxable income within Australia.

Posted by editor on April 20, 2017

By Michelle Price

HONG KONG (Reuters) - Hong Kong plans to toughen information security rules after a series of embarrassing hacks at the city's brokers, the securities regulator said on Thursday.

The draft rules would likely include requirements for two-step authentication for account log-in and for brokers to notify clients when a transaction had been made, a Hong Kong Securities and Futures Commission (SFC) spokesman said.

The SFC would publish a consultation on the draft rules during the second quarter.

Posted by editor on April 19, 2017

The U.S. Securities and Exchange Commission on Tuesday suffered a rare loss before one of its own judges, who dismissed a case accusing an Atlanta real estate investor of insider trading.

SEC Administrative Law Judge James Grimes found no evidence that Charles Hill gained $744,000 of illegal profit in shares of Radiant Systems Inc in 2011 after learning that the provider of software to hospitals and retailers was in talks to be sold to NCR Corp.

The SEC did not immediately respond to requests for comment.

Posted by editor on April 17, 2017

The state of Rhode Island hired a senior Goldman Sachs Group Inc (NYSE:GS) executive as chief investment officer to oversee its $7.9 billion pension fund, the state's Treasurer said in an email on Friday.

Alec Stais was a managing director at Goldman Sachs Asset Management, where he helped match smaller pensions and endowments with investment staff in the Global Portfolio Solutions Group. He worked for Goldman for 21 years.

Posted by editor on April 10, 2017

British regulators are investigating Jes Staley, the chief executive of Barclays (L:BARC), and the bank itself over a whistleblowing incident, the bank said on Monday.

The Financial Conduct Authority and the Prudential (LON:PRU) Regulation Authority are looking into an attempt by Staley last year to identify the author of a letter that was treated by Barclays Bank Plc as a whistleblowing incident, Barclays said in a statement.


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