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(27-04-2011)
  • Forbes pegs Trump's wealth at $3.7 billion, $800 million less than last year

    Trump delivers remarks at the Polish National Alliance in ChicagoU.S. Republican presidential nominee Donald Trump's estimated net worth is $3.7 billion (£2.8 billion), $800 million less than a year ago, Forbes magazine reported on Wednesday, attributing the loss largely to New York's softening real estate market. The magazine probed 28 assets or asset classes owned by the New York businessman and found 18 had declined in value, including Trump Tower in Manhattan and his Mar-a-Lago club in Palm Beach, Florida. The value of his 40 Wall Street property in downtown New York had also declined, according to Forbes, which said it has been tracking Trump's wealth for 34 years.


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  • Wall Street drops as healthcare stocks weigh

    Traders work on the floor of the NYSEU.S. stocks reversed course to trade lower in a choppy market on Wednesday, dragged down by healthcare stocks and as oil prices pared gains. Bristol-Myers and Amgen weighed the most on the S&P 500 healthcare sector, which fell 0.45 percent. Oil prices, which rallied as much as 3 percent earlier in the day, gave up much of those gain as data showed a large build in U.S. gasoline inventories.


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  • MIDEAST STOCKS-Saudi leads region down on weak oil, austerity steps
    * Saudi index at lowest close since Jan. 21 * Petrochemical stocks hit by oil price disappointment * Austerity threatens shares favoured by retail investors * Some telcos, utilities outperform as defensive stocks * Egypt's Kabo surges after annual earnings By Andrew Torchia DUBAI, Sept 28 (Reuters) - Saudi Arabia's stock market fell sharply for a second straight day on Wednesday, leading the entire region down, in response to weak oil prices and government austerity measures. The Saudi equities index, which had retreated 3.8 percent on Tuesday, sank a further 3. ...More

  • Swiss Exchange confident of post-Brexit access to EU stock market

    A general view shows the Swiss stock exchange in ZurichBy Huw Jones LONDON (Reuters) - The SIX Swiss Exchange said on Wednesday it was confident it can continue serving investors in the European Union without having to set up a new exchange after Britain exits the EU. Switzerland is not part of the EU and currently serves customers in the bloc from a base in London. With Britain leaving the EU, it has to find another way of linking up with its continental European customers.


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  • India selling 7 percent stake in miner Hindustan Copper

    People watch a large screen displaying India's benchmark share index on the facade of the Bombay Stock Exchange building in MumbaiIndia is selling a 7 percent stake in state-run Hindustan Copper Ltd in stock market deals over two days to Friday, potentially raising the government 4.02 billion rupees ($60.5 million). The government, which owns almost 90 percent of the miner, is selling 64.7 million shares, and has set a floor price of 62 rupees apiece, according to a regulatory filing. The sale is part of the government's asset sale plan to raise funds to help plug its deficit.


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  • 'Sell in May and go away?' Not this year, as stocks power ahead in Q3

    Light is cast on U.S. one-hundred dollar bill next to Japanese 10,000 yen noteBy Jamie McGeever LONDON (Reuters) - Investors following the stock market maxim "Sell in May and go away" will be ruing that decision this year, after emerging market, Japanese and euro zone equities emerged as the biggest winners in the third quarter. There are signs that the coming quarters may not be as robust, but for the third, the prospect of central banks keeping the stimulus taps open for longer following Britain's shock decision in June to leave the European Union boosted investors' risk appetite and demand for higher-yielding assets like stocks. A Reuters graphic -- http://reut.rs/2doKMRd -- tracking 23 markets across all geographical regions and asset classes shows the divergence between stocks, which were the best performers, and sterling and commodities, which were the worst.


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  • 'Sell in May and go away'? Not this year, as stocks power ahead in third quarter

    People are reflected in a display showing market indices outside a brokerage in TokyoBy Jamie McGeever LONDON (Reuters) - Investors following the stock market maxim "Sell in May and go away" will be ruing that decision this year, after emerging market, Japanese and euro zone equities emerged as the biggest winners in the third quarter. There are signs that the coming quarters may not be as robust, but for the third, the prospect of central banks keeping the stimulus taps open for longer following Britain's shock decision in June to leave the European Union boosted investors' risk appetite and demand for higher-yielding assets like stocks. A Reuters graphic -- http://reut.rs/2doKMRd -- tracking 23 markets across all geographical regions and asset classes shows the divergence between stocks, which were the best performers, and sterling and commodities, which were the worst.


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  • StanChart tells authorities about corruption allegations at Indonesian firm

    MAXpower sign is seen above the power company's booth at an electricity exhibition show at the convention center in JakartaLONDON/WASHINGTON (Reuters) - Standard Chartered has told "appropriate authorities" about alleged corruption at an Indonesian power plant company majority-owned by its private equity arm, the bank said. The lender's comment came in response to a Wall Street Journal report that the U.S. Department of Justice is investigating whether Standard Chartered failed to stop possible bribery and other misconduct at MAXpower Group Pte Ltd, which builds and operates gas-fired power plants in Southeast Asia. The allegations compound the legal woes of the bank, which is subject to a deferred-prosecution agreement with the Justice Department over alleged Iranian sanctions breaches and faces possible prosecution if found to have committed another federal crime.


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  • S&P sees slowdown but no recession for UK and euro zone after Brexit

    Workers stand on scaffolding at a residential building in LondonBritain and the euro zone will avoid a recession but face slower economic growth as a result of the decision by British voters to leave the European Union, ratings agency Standard & Poor's said on Wednesday. The Bank of England's decision to expand its bond-buying programme had calmed the British gilt market and S&P expected the country's housing market would have only a "soft landing" because of low interest rates. S&P said it expected British economic growth of 1.8 percent this year, slowing to 1.0 percent in 2017 and 1.1 percent in 2018.


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  • Most Asian markets slip amid Europe bank woes

    Most Asian markets slip amid Europe bank woesMost Asian stock market indices were trading lower on Wednesday (28 September), with the Shanghai Composite down 0.25% at 2,990.73 as of 6.08am GMT. This was despite a positive Wall Street close overnight.


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  • UK's Ofgem tells bidders for National Grid gas networks earnings not guaranteed - SSE
    (Reuters) - UK energy regulator Ofgem told potential buyers of a majority stake in National Grid's four gas networks and part of utility SSE's SGN network on Wednesday that price controls for the period after 2021 have not yet been set, SSE said. Ofgem is reminding bidders that any premium they pay above existing values may not be compensated when Ofgem sets the new price control, SSE said in a statement. Hong Kong billionaire Li Ka-Shing's Cheung Kong Infrastructure Holdings Ltd is preparing a bid for a majority stake in National Grid's British Gas networks, whose overall value is up to 11 billion pounds.More

  • Wall Street climbs in wake of first presidential face-off

    Traders work on the floor of the New York Stock Exchange (NYSE) in New York CityConsumer and technology stocks, including Amazon, led gains on Wall Street on Tuesday, while a perceived win by Democrat Hillary Clinton in Monday's first presidential debate gave broader support to equities. Following the first of three presidential debates on Monday, Republican candidate Donald Trump vowed to hit Clinton harder after she put him on the defensive. "From a market perspective, rightly or wrongly, there is an understanding that Mrs. Clinton would be a safe pair of hands, that there's very little uncertainty there," said Brad McMillan, chief investment officer for Commonwealth Financial in Waltham, Massachusetts.


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  • US STOCKS-Wall Street climbs in wake of first presidential face-off
    Consumer and technology stocks, including Amazon, led gains on Wall Street on Tuesday, while a perceived win by Democrat Hillary Clinton in Monday's first presidential debate gave broader support to equities. ...More

  • Wall Street reacts to Trump with a shrug despite pro-business bluster
    Donald Trump is running for president on the premise that his business acumen makes him the best man for the job, but reaction from the business community Tuesday suggests that's far from the consensus view. Ordinarily, pronouncements like that would be music to the ears of a Wall Street audience. "U.S. stocks ended higher yesterday, after traders deemed that Hillary Clinton benefited most from Monday'spresidential debate," said BMO economist Priscilla Thiagamoorthy in a note on Wednesday.More

  • Trump Could Still Win — and Stocks Aren’t Ready for Him

    Trump Could Still Win — and Stocks Aren’t Ready for HimMonday night’s debate, billed as the biggest presidential debate of the century and maybe the most watched ever, is contributing to a small bump for stocks. “What we’re seeing in markets this morning is a small, collective sigh of relief because most commentators, and the few polls that have been released, suggest that Clinton won the debate,” says James Athey of Aberdeen Asset Management. For the economy and the stock market, the outcome of the presidential election on Nov. 8 is the next big catalyst.


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  • Wells Fargo may claw back some executive pay: report
    The board of directors of Wells Fargo & Co. is reported to be considering clawing back some of the millions of dollars in pay to some of its top executives. The Wall Street Journal, citing an unnamed source, reported that Wells Fargo's board could move as soon as Tuesday to get back money from current CEO John Stumpf and Carrie Tolstedt, the bank's former head of retail banking. Wells Fargo has been under pressure since it emerged in August that the San Francisco, Calif.-based bank had fired more than 5,000 of its employees over five years and been fined a total of $185 million US for making up millions of unauthorized bank accounts on their customers' behalf — often without the customers' knowledge.More

  • Standard Chartered probed by US DoJ for Indonesia 'bribes'

    Standard Chartered says it is conducting its own review following the bribery allegationsStandard Chartered acknowledged Tuesday it was being investigated by the US Department of Justice over claims that an Indonesian subsidiary had paid bribes to secure contracts. The Wall Street Journal newspaper said that an internal audit at Indonesian energy company Maxpower Group found evidence of possible bribery and US prosecutors were examining whether Standard Chartered was culpable for not stopping it. The Department of Justice did not comment when contacted by AFP.


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  • Wells Fargo likely to decide on clawback before Thursday: WSJ

    A Wells Fargo Bank is shown in Charlotte, North Carolina(Reuters) - Wells Fargo & Co’sboard is likely to decide on whether to claw back pay from former retail-banking head Carrie Tolstedt and Chief Executive John Stumpf ahead of a congressional hearing on Thursday, the Wall Street Journal reported.


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  • Uber launches global assault on food delivery market

    An UberEATS food delivery courier rides her scooter in LondonBy Eric Auchard AMSTERDAM (Reuters) - Uber is making an aggressive drive into meal delivery, backed by a wave of staff recruitment, with the U.S. tech heavyweight gearing up to enter at least 22 new countries and take on local rivals. In a measure of rising ambition beyond its taxi business, Uber [UBER.UL] will begin delivering meals in Amsterdam on Thursday just as Dutch market leader Takeaway.com , begins trading on the city's stock market.


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  • StanChart refers alleged corruption at Indonesian company to authorities
    Standard Chartered has referred allegations of impropriety at an Indonesian company that the bank's private equity arm invested in to the appropriate authorities, the bank said on Tuesday. The Wall Street ...More