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Asia stocks shine as Fed minutes hint at patience on hike

Passersby walk past in front of stock quotation board outside a brokerage in TokyoBy Lisa Twaronite TOKYO (Reuters) - Asian shares rose on Friday, taking their cue from a jump in oil prices and Wall Street gains after minutes of the Federal Reserve's latest meeting damped down expectations of an imminent Fed rate hike. Riskier asset markets, which had risen when the Fed held off raising rates in September, got a further boost on confirmation policy makers won't rush to tighten policy at a time of slackening global growth. Because such concern is fading now, investors are willing to take risks," said Hiroyuki Nakai, chief strategist at Tokai Tokyo Research Center.

Malaysia arrests lawyer critical of PM Najib

Malaysia's PM Najib attends the Khazanah Megatrends Forum in Kuala LumpurMalaysian police have arrested and detained the lawyer of a local politician who has been calling for U.S. law-enforcement authorities to probe an international financial scandal involving Prime Minister Najib Razak. In a blog post that appeared under the lawyer's name, Matthias Chang said he had been arrested on Thursday as he was visiting his client, Khairuddin Abu Hassan, a former member of Malaysia's ruling party who was also arrested last month. The scandal surfaced in July when the Wall Street Journal reported that investigators looking into state investor 1Malaysia Development Bhd (1MDB) found that nearly $700 million dollars were transferred into bank accounts of the prime minister.

Clinton courts left with promise to break up risky banks

U.S. Democratic presidential candidate Hillary Clinton speaks during a community forum campaign event at Cornell College in Mt Vernon, IowaBy John McCrank and Amanda Becker NEW YORK/WASHINGTON (Reuters) - U.S. Democratic presidential hopeful Hillary Clinton on Thursday called for the breakup of large banks that take excessive risks as part of a sweeping plan to curb what she says are Wall Street abuses. ?It?s not pure size, it?s bad management, excessive risk and things like that, lack of controls," said Alan Blinder, a Princeton economist who helped formulate the plans. "Now the truth of the size question is that the bigger you get the harder it is to do those things effectively.? Clinton has been under pressure to join progressives within the Democratic Party calling for the government to break up banks deemed "too-big-to-fail." Both U.S. Senator Elizabeth Warren, the party's most outspoken critic of Wall Street, and U.S. Senator Bernie Sanders, Clinton's leading challenger for the Democratic nomination, have embraced such an approach.

Alcoa trims China business outlook as earnings fall

Klaus Kleinfled, CEO of Alcoa, visits the floor of the New York Stock Exchange before ringing the closing bell on November 4, 2014Alcoa reported lower third-quarter earnings Thursday due to falling aluminum prices as it trimmed its outlook for key Chinese businesses. Alcoa faced "economic headwinds and significant volatility in some of our markets" during the quarter, said chief executive Klaus Kleinfeld. Lower aluminum prices were also a factor.

Oil breaks through $50 US mark on Russian airstrikes

Oil prices briefly broke through the $50 US mark Thursday afternoon, buoying the Canadian dollar and boosting the energy sector on Toronto's stock market. Brentcrude, the main international contract,was up $1.96 to $53.29, partly as a result of reports of Russian airstrikes in Syria and Iran. Oil prices are up more than eight per cent this week, as investors anticipate falling production in the U.S. as a result of lower oil prices.

Clinton seeks crackdown for those breaking Wall Street rules

Democratic presidential candidate Hillary Rodham Clinton holds up a doll that was handed to her from the audience Wednesday, Oct. 7, 2015, during a campaign stop at the Westfair Amphitheater in Council Bluffs, Iowa. (AP Photo/Nati Harnik)WASHINGTON (AP) ? Just days before the first Democratic debate, Hillary Rodham Clinton released a series of proposals aimed at cracking down on bad behavior by Wall Street, vowing that individual bankers who violate the law will be "prosecuted and imprisoned."

Dovish Fed drives Wall Street higher

Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) - U.S. stocks closed higher on Thursday as investors saw further signs of dovishness in the Federal Reserve September meeting minutes which shed light on its decision to keep interest rates near zero.

Clinton proposes breaking up too-big banks, monitoring shadow-banking system

U.S. Democratic presidential candidate Hillary Clinton speaks during a community forum campaign event at Cornell College in Mt Vernon, IowaDemocratic U.S. presidential candidate Hillary Clinton proposed on Thursday breaking up too-big-to-fail banks and more oversight of the shadow-banking system as she continued to roll out a sweeping plan to rein in what she calls Wall Street "abuses." In a nod to Democratic Party liberals who have been urging Clinton to take an aggressive posture toward Wall Street, her campaign said she would push to enhance provisions in the 2010 Dodd-Frank Act to give regulators the "explicit statutory authorization" to break up too big, too risky banks.

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