Mon 21 May, 2012, 11:36 AM IST - India Markets close in 4 hrs 24 mins

Financial News from Reuters

  • An Indian one rupee coin is seen in this picture illustration taken in Mumbai

    Reuters Market Eye - The rupee fell on Monday, weakening to 54.69/70 from around 54.45 in early trades, as uncertainty in global financial markets continues to roil. The euro extended its rebound from ...

  • Investor sleeps on a bench in front of an electronic board showing stock information at a brokerage house in Huaibei

    Markets recovered some ground on Monday on value hunting after last week's heavy losses, but investors remained wary over the euro zone despite world leaders pledging calling for Greece to stay in the ...

  • By Grant McCool REUTERS - Rajat Gupta, former global head of McKinsey & Co, is set to go on trial on Monday in New York on charges he leaked confidential information while serving on the board of directors ...

  • Executive Chairman of Google Eric E. Schmidt gestures as he delivers the commencement address at Boston University

    By Ross Kerber REUTERS - Google Inc Executive Chairman Eric Schmidt challenged college graduates on Sunday to take the radical step -- at least for their generation -- of tearing their eyes away from their ...

  • Ex-Goldman Sachs director Gupta exits the Manhattan Federal Court after a pre-trial hearing on insider-trading charges

    Barely a day went by at the insider-trading trial of multimillionaire hedge-fund founder Raj Rajaratnam a year ago without mention of Rajat Gupta, a boldface name in business and charity circles. On Monday ...

  • French President Francois Hollande speaks during a news conference at the NATO Summit in Chicago

    French President Francois Hollande said on Saturday he would make proposals for eurobonds at an upcoming European summit as he outlines his ideas to stimulate growth and help ailing economies within the ...

  • By William Schomberg REUTERS - A pledge by leaders of industrialized nations to help the troubled world economy is unlikely to herald quick new action by Europe on its debt crisis, meaning more uncertainty ...

  • The Yahoo! offices are pictured in Santa Monica

    Yahoo Inc is nearing a deal on Sunday to sell part of its stake in Alibaba Group back to the Chinese company for $7.1 billion, according to a source familiar with the matter. Under the agreement expected ...

  • In this photo illustration, a Facebook logo on a computer screen is seen through glasses held by a woman in Bern

    Newly issued shares in Facebook Inc may have a hard time in the coming week if lead underwriter Morgan Stanley stops supporting the stock and managers lower down in the IPO book who were hoping for an ...

  • Facebook Inc. CEO Mark Zuckerberg is seen on a screen televised from their headquarters in Menlo Park moments after their IPO launch in New York

    Getting married was a smart business move as well as a personal milestone for Facebook chief Mark Zuckerberg, with the timing of the wedding, the day after the company's initial public offering, potentially ...

  • Hosseini, Iran's Minister of Economic Affairs and Finance, speaks during a conference in Tehran

    Iran's economy minister said oil prices will "certainly" rise if the European Union moves ahead with an embargo in July and that sanctions will backfire on those who impose them. The European ...

  • In this photo illustration, a Facebook logo on a computer screen is seen through glasses held by a woman in Bern

    REUTERS - Shares in social media company Facebook Inc could fall below the initial public offering price of $38, Barron's wrote in its May 21 edition. Facebook saw its shares rise a scant 0.6 percent to ...

  • A Motorola Droid phone is seen displaying the Google search page in New York

    China said on Sunday it had granted conditional approval to Google's plans to acquire Motorola Mobility Holdings , clearing the last regulatory obstacle to a deal that will help the search company's plans ...

  • U.S. banking reforms could not have prevented JPMorgan Chase & Co's trading losses, and those involved in the activities that went awry should be held accountable, U.S. House of Representatives Speaker ...

  • A record-breaking pay deal will give millions of German workers their biggest rise in wages in two decades, boost consumption in Europe's biggest economy and help towards adjusting the regional imbalances ...

  • An employee of South Korean mobile carrier KT holds an Apple Inc's iPhone 4 smartphone and a Samsung Electronics' Galaxy S II smartphone as he poses for photographs at a registration desk at KT's headquarters in Seoul

    The chiefs of Apple Inc and Samsung Electronics Co Ltd are used to running the show at their global tech empires, but they will be in for a different experience when they arrive at a San Francisco federal ...

  • China's Premier Wen Jiabao stands in front of a Chinese national flag as he attends a joint news conference of the fifth trilateral summit among China, South Korea and Japan at the Great Hall of the People in Beijing

    China's premier reiterated calls on Sunday for the country to maintain its campaign to cool down its property market, a series of controls on credit and purchases that have begun to drive down housing ...

  • If or when policymakers finally decide Greece should leave the euro, the exit could happen so quickly that "new drachma" currency notes might not be printed in time. In principle, some of the ...

  • The euro zone can protect its currency if its stronger countries provide more support for the weaker to help them deal with their problems, British finance minister George Osborne said in a newspaper on ...

  • An employee of a money changer counts U.S. dollar notes from a customer in exchange for rupiah notes in Jakarta

    Southeast Asian nations are swallowing an outflow of money from India, as foreign investors lose patience with its policy paralysis and slowing growth and aim instead for more promising emerging markets ...

  • Commuters are reflected in stone as they walk past the JP Morgan headquarters in New York

    By David Henry REUTERS - JPMorgan Chase & Co's decision to radically change the way risk was measured in its Chief Investment Office is likely to dog the bank in the developing crisis over the big trading ...

  • G8 backs Greece, vows to combat financial turmoil Reuters - Sun 20 May, 2012 8:56 AM IST
    G8 leaders gather for a family photo at the G8 Summit at Camp David

    World leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil while revitalizing a global economy increasingly threatened by Europe's ...

  • Statement by G8 leaders on global oil markets Reuters - Sat 19 May, 2012 11:25 PM IST
    Leaders walk to the family photo session at the G8 summit in Camp David

    REUTERS - Following is the text of a statement on global oil markets from the Group of Eight leaders gathered at the presidential retreat in Camp David, Maryland. The text was issued by the White House. ...

  • G8 committed to keeping oil markets supplied - U.S Reuters - Sat 19 May, 2012 11:22 PM IST
    Germany's Chancellor Merkel talks with U.S. President Obama as G8 leaders gather for a family photo at the G8 Summit at Camp David

    The Group of Eight leaders are committed to keeping global oil markets supplied as sanctions on Iran's crude supply take force, but did not discuss a specific trigger that would prompt action, a U.S. official ...

  • Statement by G8 leaders on the global economy Reuters - Sat 19 May, 2012 11:20 PM IST
    Britain's Prime Minister Cameron listens as U.S. President Obama speaks during an expanded G8 working luncheon with African and other leaders at the G8 Summit at Camp David

    REUTERS - Following is the text of a statement on the global economy from the Group of Eight leaders gathered at the presidential retreat in Camp David, Maryland. The text was issued by the White House. ...

  • World leaders vow to combat financial turmoil Reuters - Sat 19 May, 2012 10:59 PM IST
    G8 leaders gather for a family photo at the G8 Summit at Camp David

    World leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil while revitalizing their economies, which are increasingly threatened ...

  • U.S. President Obama guides G8 leaders for a family photo at the G8 Summit at Camp David

    G8 leaders said Saturday it is their "imperative" to promote growth and jobs to reinvigorate the global economy, and gave their backing to Greece remaining in the euro zone. "We agree on ...

  • Europe's economic woes dominate G8 gathering Reuters - Sat 19 May, 2012 10:19 PM IST
    Leaders of the major industrial economies Noda, Mont, Harper, Hollande, Obama, Cameron, Medvedev, Merkel, Van Rompuy, Barroso attend dinner at G8 Summit at Camp David

    U.S. President Barack Obama pledged at a Group of Eight summit on Saturday to work with Europe to balance growth with debt reduction as world leaders try to prevent the worsening euro zone crisis from ...

  • Nightmare foretold if Greece heads for euro exit Reuters - Sat 19 May, 2012 9:46 PM IST

    In Athens, the homeless are on the streets in growing numbers, soup kitchens feed twice as many people as a year ago, and the poor are diving into garbage bins in search of scrap they can sell. Greece ...

  • JPMorgan to be haunted by change in risk model Reuters - Sat 19 May, 2012 8:51 PM IST
    Commuters are reflected in stone as they walk past the JP Morgan headquarters in New York

    By David Henry REUTERS - JPMorgan Chase & Co's decision to radically change the way risk was measured in its Chief Investment Office is likely to dog the bank in the developing crisis over the big trading ...

  • G8 making progress on euro zone crisis, oil prices - UK Reuters - Sat 19 May, 2012 7:31 PM IST

    Leaders of the Group of Eight major economies are making progress on addressing the two biggest threats to their economies - the euro zone crisis and very high oil prices, British Prime Minister David ...

  • Greek exit could cost euro zone billions of euros Reuters - Sat 19 May, 2012 7:19 PM IST

    A Greek exit from the euro zone could expose the European Central Bank and the currency bloc it seeks to protect to hundreds of billions of euros in losses, landing Germany and its partners with a crippling ...

  • Murdoch denies planning to spin off UK newspapers Reuters - Sat 19 May, 2012 5:54 PM IST
    News Corporation Chief Executive and Chairman, Rupert Murdoch, smiles as he leaves after giving evidence for the second day at the Leveson Inquiry at the High Court in London

    Rupert Murdoch has denied reports that News Corp is considering spinning off its British newspapers to protect the rest of his media empire from a phone hacking scandal. The Daily Telegraph and the Financial ...

  • Obama pledges tough enforcement of Wall Street reforms Reuters - Sat 19 May, 2012 4:47 PM IST
    U.S. President Barack Obama walks to welcome guests at the G8 summit in Camp David

    President Barack Obama on Saturday called on the U.S. Congress to back his efforts for tough new financial industry oversight, saying a $2 billion trading loss at JPMorgan underscored the need for such ...

  • Hindalco says to start Orissa alumina refinery by Jan Reuters - Sat 19 May, 2012 2:04 PM IST

    Non-ferrous metals producer Hindalco Industries plans to start its 1.5 million tonnes per annum alumina refinery in Orissa by January 2013, a senior company executive said on Saturday. It also expects ...

  • In India, muddled leadership leaves economy adrift Reuters - Sat 19 May, 2012 11:46 AM IST

    "Dear God," wrote economist Rajeev Malik as he called on the Almighty to help India's "rudderless" government in a biting critique that underscored a growing frustration at home and ...

  • CFTC opens probe into JPMorgan trading loss - source Reuters - Sat 19 May, 2012 10:20 AM IST
    (Blank Headline Received)

    The Commodity Futures Trading Commission has opened an investigation into possible wrongdoing at JPMorgan Chase & Co in connection with the bank's multi-billion-dollar trading loss, a source familiar with ...

  • Historic Facebook debut falls flat Reuters - Sat 19 May, 2012 6:25 AM IST

    The historic initial public offering of Facebook Inc did not go as planned on Friday, as the social networking company's sky-high valuation combined with trading glitches left the stock languishing near ...

  • JPMorgan to be haunted by change in risk model Reuters - Sat 19 May, 2012 5:29 AM IST
    Commuters are reflected in stone as they walk past the JP Morgan headquarters in New York

    By David Henry REUTERS - JPMorgan Chase & Co's decision to radically change the way risk was measured in its Chief Investment Office is likely to dog the bank in the developing crisis over the big trading ...

  • Former International Monetary Fund chief Dominique Strauss-Kahn struck back this week at the hotel maid who accused him of sexual assault with a sharply worded countersuit claiming defamation, but lawyers ...

  • A street sign stands outside of the New York Stock Exchange

    Normally a big decline would set up Wall Street for a technical rebound. But that may not be the case next week, even after the market posted its worst weekly loss for the year and the S&P fell for six ...

  • Facebook IPO averts 'odd lot' question Reuters - Sat 19 May, 2012 3:41 AM IST
    Monitors show value of Facebook, Inc. stock before closing bell at NASDAQ Marketsite in New York

    Facebook Inc's modest debut on Friday may have averted a potential headache for the company and regulators, and kept at bay a debate over the role of "odd lots" in the marketplace. Shares of ...

  • Banks' rising bad loans add to Spanish troubles Reuters - Sat 19 May, 2012 3:32 AM IST

    Spanish banks' bad loans rose in March to their highest in 18 years, underscoring the problems facing the government as it drafts in independent auditors in an attempt to reassure investors it can clean ...

  • World stocks erase year's gain; Brent at 2012 low Reuters - Sat 19 May, 2012 3:00 AM IST
    A television reporter talks about the Facebook IPO as the a monitor lists the price as unchanged at $38 per share at the NASDAQ Marketsite prior to the opening bell in New York

    World stocks erased the year's gains o n Friday as investors fled risky investments for safe-haven assets on concerns about the euro zone's deepening debt woes, while U.S. stocks lost ground after the ...

  • Historic Facebook debut falls short of expectations Reuters - Sat 19 May, 2012 2:50 AM IST
    Facebook Inc. CEO Mark Zuckerberg is seen on a screen televised from their headquarters in Menlo Park moments after their IPO launch in New York

    The historic initial public offering of Facebook Inc did not go as planned on Friday, as the social networking company's sky-high valuation combined with trading glitches left the stock languishing near ...

  • Messy Facebook debut marks weak day on Wall Street Reuters - Sat 19 May, 2012 2:34 AM IST
    The U.S. flag hangs outside the New York Stock Exchange

    U.S. stocks fell on Friday after a sloppy debut by Facebook Inc spoiled hopes that a spectacular open for the most-anticipated stock sale in years would brighten the mood in what has been a gloomy month ...

  • Europe thinks the unthinkable on Greece Reuters - Sat 19 May, 2012 2:07 AM IST
    An employee counts money in a bank in Sarajevo

    European officials are working on contingency plans in case Greece bombs out of the euro zone, the EU's trade commissioner said on Friday, as European share prices tumbled and Germany warned of continuing ...

  • Social media stocks hammered as Facebook debuts Reuters - Sat 19 May, 2012 1:17 AM IST
    (Blank Headline Received)

    Social media stocks, led by Zynga Inc, slumped in volatile trading as traders used the securities to hedge or bet against the star of the sector, Facebook Inc , which went public in a disappointing debut ...

  • Facebook's IPO averts questions over 'odd lots' Reuters - Fri 18 May, 2012 11:55 PM IST
    Recent activity lists "Mark listed FB on NASDAQ" in this image taken from Mark Zuckerberg's Facebook page

    Facebook Inc's modest debut on Friday may have averted a potential headache for the company and regulators, and kept at bay a debate over the role of "odd lots" in the marketplace. Shares of ...

  • Germany's Merkel, Greece president discussed Greek euro vote Reuters - Fri 18 May, 2012 11:38 PM IST
    (Blank Headline Received)

    German Chancellor Angela Merkel discussed with Greece's president on Friday whether his country should hold a referendum on staying in the Euro, a Greek government spokesman said. " relayed to the ...

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