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Provident Financial outlines growth plan after rejecting rival's takeover bid

British lender Provident Financial (LON:PFG) Plc said on Wednesday that it had a clear plan to map out growth and enhance performance across its divisions, as it reiterated that rival Non-Standard Finance Plc's takeover offer should firmly be rejected. Last week, Provident Financial rejected a 1.3 billion pound takeover bid launched by its former CEO and said it was looking for a better solution to turn around its business. Provident has been rebuilding after a botched reorganisation...
Posted on: Mar 6, 2019 10:08:26 Read More

Sliding car stocks drag Europe down as investors hit the brakes

European shares stalled on Wednesday as weak results from the troubled autos sector dragged the market down and investors' confidence in a rally that has sent stocks shooting up this year showed signs of fraying. Exuberance in Chinese shares over hopes for fresh stimulus failed to spill over into European trading where the STOXX 600 hovered near five-month highs, dipping 0.1 percent. Auto stocks fell after German bearings maker Schaeffler warned of an "extremely challenging" business...
Posted on: Mar 6, 2019 10:06:12 Read More

EU sees no Brexit breakthrough before the weekend - sources

The European Union does not expect a Brexit breakthrough before the weekend, diplomats and officials said after talks in Brussels led by British Prime Minister Theresa May's chief lawyer failed to produce a deal on Tuesday. "It's unlikely that there would be a deal before the weekend," one EU official said. "We are preparing for a working weekend." Diplomats speculated that, should the EU and UK negotiators seal a deal over the weekend, May could come to Brussels on Monday to give it political...
Posted on: Mar 6, 2019 10:01:54 Read More

StockBeat: Ajax Sparkles Amid the Gloom in Banks and Autos

By Geoffrey Smith Investing.com -- Europe’s stock markets are mostly lower in early trading Wednesday, with the latest in a string of money-laundering exposures still weighing on bank stocks, and a profit warning from one of the continent’s biggest auto suppliers casting more gloom over that sector. At 04:00 AM ET (0900 GMT), the benchmark Euro Stoxx 600 was inching down 0.12 points, 375.52. The Stoxx Automobiles and Parts index was down 1.1%, while the banks sectoral ind...
Posted on: Mar 6, 2019 10:00:58 Read More

FTSE inches up as tobacco stocks gain

(Reuters) - Britain's FTSE 100 edged higher on Wednesday as tobacco stocks surged after U.S. Food and Drug Administration Commissioner Scott Gottlieb stepped down, while Just Eat (LON:JE) dropped on the mid-cap index after releasing results. The FTSE 100 was up 0.1 percent and the FTSE 250 was roughly flat by 0826 GMT. British American Tobacco (LON:BATS) jumped 5.5 percent to a near four-month high and Imperial Brands (LON:IMB) rose 2.7 percent after U.S. FDA...
Posted on: Mar 6, 2019 09:58:17 Read More

FTSE inches up as tobacco stocks gain

 Britain's FTSE 100 edged higher on Wednesday as tobacco stocks surged after U.S. Food and Drug Administration Commissioner Scott Gottlieb stepped down, while Just Eat (LON:JE) dropped on the mid-cap index after releasing results. The FTSE 100 was up 0.1 percent and the FTSE 250 was roughly flat by 0826 GMT. British American Tobacco (LON:BATS) jumped 5.5 percent to a near four-month high and Imperial Brands (LON:IMB) rose 2.7 percent after U.S. FDA Commi...
Posted on: Mar 6, 2019 09:58:17 Read More

U.S., China Trade Deal Leaves Currencies as Fighting Ground

(Bloomberg) -- The U.S. and China are edging closer to resolving differences on currencies that have bogged down economic talks for nearly two decades. The only question is how meaningful the deal will be. With both nations inching towards a trade agreement that’s expected to include a provision for China to hold the yuan stable, U.S. President Donald Trump is shifting his gaze to the dollar’s strength. During a largely unscripted two-hour speech on Saturday, he targeted Federal Re...
Posted on: Mar 6, 2019 09:57:06 Read More

U.S., China Trade Deal Leaves Currencies as Fighting Ground

The U.S. and China are edging closer to resolving differences on currencies that have bogged down economic talks for nearly two decades. The only question is how meaningful the deal will be. With both nations inching towards a trade agreement that’s expected to include a provision for China to hold the yuan stable, U.S. President Donald Trump is shifting his gaze to the dollar’s strength. During a largely unscripted two-hour speech on Saturday, he targeted Federal Reserve Chairman ...
Posted on: Mar 6, 2019 09:57:06 Read More

Russia opens civil proceedings against Facebook, Twitter - Ifax

MOSCOW (Reuters) - Russia's communication watchdog said on Monday it was opening administrative proceedings against Twitter and Facebook (NASDAQ:FB) for failing to comply with data laws, the Interfax news agency reported.   Roskomnadzor, the watchdog, was quoted as saying that Twitter and Facebook had not explained how and when they would comply with legislation requiring them to store Russian users' personal data on servers in Russia.    ...
Posted on: Jan 21, 2019 10:20:22 Read More

SunTrust Banks Earnings, Revenue beat in Q4

Investing.com - SunTrust Banks (NYSE:STI) reported fourth quarter earnings that beat analysts' expectations on Friday and revenue that topped forecasts. The firm reported earnings per share of $1.5 on revenue of $2.39B. Analysts polled by Investing.com anticipated EPS of $1.37 on revenue of $2.36B. That compared to EPS of $1.09 on revenue of $2.47B in the same period a year earlier. The company had reported EPS of $1.56 on revenue of $2.29B in the previous quarter.   For the ye...
Posted on: Jan 18, 2019 12:27:56 Read More

UK factory orders show second month of growth - CBI

LONDON (Reuters) - British factory orders grew for a second month in a row in December after a sharp slowdown in October, but the prospect of a no-deal Brexit is a growing worry for manufacturers, the Confederation of British Industry said on Wednesday. A rebound in export orders helped the CBI's monthly order book balance show a positive reading of +8, a touch weaker than November's +10 but well above average levels, the group said. A measure of expectations for the three months ahead rose to...
Posted on: Dec 19, 2018 12:33:37 Read More

Forex - Dollar Slips, Pound Steadies after Decline on Brexit Vote Delay

Investing.com - The U.S. dollar slid lower against a currency basket on Tuesday while the pound found some support after a steep selloff in the previous session in the wake of a shock decision by British Prime Minister Theresa May to delay a key vote on Brexit. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.23% to 96.95 by 03:48 AM ET (08:48 AM GMT). The index surged 0.73% on Monday, rebounding from one-week lows b...
Posted on: Dec 11, 2018 10:22:39 Read More

Just Group shares soar after BoE capital rules prove lenient

(Reuters) - Shares in pensions provider Just Group (L:JUSTJ) rose as much as 27 percent on Monday after the Bank of England released a final decision on capital requirement changes that the company said would prove less of a burden than previously expected. Just Group said the rules announced by the BoE's Prudential (LON:PRU) Regulatory Authority (PRA), were "considerably less onerous" than set out in a consultation paper earlier this year, adding that the outcome was well within its ...
Posted on: Dec 10, 2018 10:18:14 Read More

Sterling's fate hangs on Brexit, UK growth to be weak - Reuters poll

By Jonathan Cable LONDON (Reuters) - Sterling's near-term fate hangs on whether British Prime Minister Theresa May manages to get her Brexit withdrawal deal through Parliament, according to Reuters polls that also found economic growth will be weak. May faces deep opposition in parliament ahead of a Dec. 11 vote on her withdrawal agreement, raising the risk of a no-deal Brexit shock to the economy in less than four months' time. She suffered embarrassing defeats on Tuesday at the start of fiv...
Posted on: Dec 6, 2018 10:15:25 Read More

A Market Guide to a Brexit Deal, If and When It Finally Happens

(Bloomberg) -- U.K. negotiators have secured a deal with the European Union to exit the bloc, and on Wednesday Prime Minister Theresa May will try to win over her Cabinet and later, Parliament. For investors, a done deal would remove one of the biggest overhangs in European markets since the 2016 vote. Of course, we’re not exactly there yet. Some U.K. ministers have preferred quitting to backing May’s blueprint in the past, and the math for getting it through Parliament still looks ...
Posted on: Nov 14, 2018 15:26:23 Read More

Goldman's Marcus jolts British banks out of savings slumber

By Lawrence White and Emma Rumney LONDON (Reuters) - Britain's big banks, long able to shrug off competition from start-ups, have been spooked by an account launched just six weeks ago by Goldman Sachs (N:GS) that pays savers more. One of the banks admitted privately that it has seen a spike in savers switching, while others have launched new accounts or raised rates to try to nip "Marcus" in the bud. British savers have got used to payouts of 1 percent or less thanks to rock-bottom central b...
Posted on: Nov 9, 2018 16:10:11 Read More

Forex - Dollar Edges Higher Before Fed, Pound Holding Above 1.31

Investing.com - The dollar edged higher against a currency basket on Thursday as investors turned their attention to a monetary policy announcement from the Federal Reserve later in the day, while the pound remained supported above the 1.30 level on Brexit optimism. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.18% to 95.98 by 04:01 AM ET (09:01 AM GMT). The dollar regained ground after sliding in the previous sessi...
Posted on: Nov 8, 2018 10:32:09 Read More

Oil prices fall amid supplied market, Iran sanction exemptions

By Henning Gloystein SINGAPORE (Reuters) - Oil prices fell on Wednesday, extending losses from the previous session, with markets well supplied amid rising production and U.S. sanction waivers that allow Iran's biggest customers to continue buying its crude. Front-month Brent crude oil futures (LCOc1) were at $71.85 per barrel at 0115 GMT, down 28 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures (CLc1) were at $61.76 per barrel, down 45 cents, or ...
Posted on: Nov 7, 2018 09:20:59 Read More

Asian shares waver as investors brace for U.S. elections

By Hideyuki Sano TOKYO (Reuters) - Asian shares wavered on Tuesday with sentiment tempered ahead of the U.S. midterm elections, the first major electoral test of President Donald Trump's big tax cuts and hostile trade policies. MSCI's broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) edged down 0.1 percent, weighed by a fall in Chinese shares and technology stocks while Japan's Nikkei (N225) managed to gain 1.0 percent. Shares in Asia-Pacific Apple suppliers, such as Taiwan's...
Posted on: Nov 6, 2018 08:44:58 Read More

Forex - U.S. Dollar Flat After Jobs Report

Investing.com - The dollar was flat on Friday, despite an upbeat jobs report and news that a trade deal between the U.S. and China is not likely. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was flat at 96.28 as of 11:04 AM ET (15:04 GMT). The greenback rose briefly after the jobs report data, but was flat soon after. Nonfarm payrolls rose by 250,000 in October, higher than the consensus forecast. The jobless rate was also ...
Posted on: Nov 2, 2018 16:23:05 Read More