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D.E. Shaw’s top shareholder activist Koffey leaves hedge fund

(Reuters) – Hedge fund manager Quentin Koffey, who joined D.E. Shaw & Co two years ago from Elliott Management Corp to lead its shareholder activism strategy, has left to join Senator Investment Group LP, the firms told Reuters on Thursday. The move is a setba... More »

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High winds force SpaceX to postpone first launch of Starlink…

CAPE CANAVERAL, Fla. (Reuters) – Billionaire Elon Musk’s SpaceX postponed a planned Wednesday night blastoff of a Falcon 9 rocket carrying the first 60 satellites for his new Starlink internet service, citing excessive winds over the Florida launch site. Launc... More »

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TPG signs deal to takeover management of Abraaj’s healthcare fund

DUBAI (Reuters) – U.S. private equity firm TPG said on Thursday it has signed a definitive agreement to takeover the management of a healthcare fund, previously managed by collapsed private equity firm Abraaj. The fund will be renamed Evercare Health Fund, it ... More »

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Blast at Russia’s Azot chemical plant kills three: Interfax

MOSCOW (Reuters) – A blast at the Azot chemical plant in Russia’s region of Perm killed three people on Monday, the Interfax news agency cited the Emergency Ministry as saying. The blast occurred during maintenance work, Russian news agencies cited the ministr... More »

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Huawei first-quarter revenue grows 39 percent to $27 billion amid…

HONG KONG (Reuters) – Huawei Technologies said on Monday its first-quarter revenue jumped 39 percent to 179.7 billion yuan ($26.81 billion), in the Chinese technology firm’s first-ever quarterly results. The Shenzhen-based firm, the world’s biggest telecoms eq... More »

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Cyber expert credited with stopping ‘WannaCry’ attack admits…

(Reuters) – A British cyber security researcher hailed as a hero for neutralizing the global “WannaCry” ransomware attack in 2017 has pleaded guilty to U.S. charges of writing malware. Marcus Hutchins, who was charged on 10 counts in the United States, pleaded... More »

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Five decades ago, Boeing’s new 727 jet also had a terrible start

OTTAWA (Reuters) – As Boeing Co and global airlines work to restore public confidence in the 737 MAX after two deadly crashes, they will have a play book they can use. This is not the first time that Boeing has faced a crisis after launching a new plane with i... More »

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Oil major Total CEO’s compensation drops 17 percent in 2018:…

PARIS (Reuters) – The board of French oil and gas major Total has proposed total 2018 compensation for Chief Executive Patrick Pouyanne of 3.1 million euros ($3.55 million), compared with 3.8 million in 2017, company documents showed on Wednesday. The total pa... More »

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Apple says Spotify wants benefits of a free app without being free

(Reuters) – Apple Inc on Thursday responded to Spotify Technology SA’s complaint with EU antitrust regulators, saying the audio streaming service “wants all the benefits of a free app without being free”. Spotify, launched a year after Apple unveiled its first... More »

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Mutual funds start to put their mouth where their money is

(Reuters) – Corporate America’s biggest shareholders have traditionally been content with sharing their views on a company’s strategy privately with management. But now some mutual funds are beginning to rethink their stance, amid pressure from investors for t... More »

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KKR poaches Goldman Asia investment banking chair Richdale

HONG KONG (Reuters) – KKR & Co Inc has poached Kate Richdale, Goldman Sachs Group Inc chair of Asia investment banking ex-Japan. Richdale will be KKR’s head of strategy and business development in the Asia-Pacific region, and will also work with KKR’s Asia inv... More »

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U.S. Air Force grounds Boeing’s KC-46 tankers over debris issue

(Reuters) – The U.S. Air force said on Friday it had stopped accepting Boeing Co’s KC-46 tankers since Feb. 20 and is working with the company to resolve the issue of foreign object debris (FOD) that were found in the aircraft. “No aircraft have been accepted ... More »

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Deutsche Bank hires BoA’s Innocentin for financial sponsors group

NEW YORK (Reuters) – Deutsche Bank has hired Bank of America Corp’s Robert Innocentin as a managing director within its financial sponsors group, according to a memo seen by Reuters on Monday. Innocentin will join Deutsche Bank in May after four years as a man... More »

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China-U.S. trade talks ‘making a final sprint’: state media

SHANGHAI (Reuters) – Chinese state media on Saturday expressed cautious optimism over trade talks between the United States and China, a day after President Xi Jinping said a week of discussions had produced “step-by-step” progress. Xi made the comments at a m... More »

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SpaceX to lay off 10 percent of workforce

(Reuters) – Elon Musk’s rocket company SpaceX will reduce its workforce by about 10 percent of the company’s more than 6,000 employees, it said on Friday. The company said it will “part ways” with some of its manpower, citing “extraordinarily difficult challen... More »

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Euro zone unemployment unexpectedly falls to 10-year low

BRUSSELS (Reuters) – Unemployment in the euro zone unexpectedly fell in November to its lowest rate in more than ten years, official estimates released on Wednesday showed. The EU statistics office Eurostat said unemployment in the 19-country currency bloc dro... More »

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Tesla sued for passenger death due to defective battery

(Reuters) – Chicago law firm Corboy & Demetrio said on Tuesday it filed a lawsuit against electric carmaker Tesla Inc (TSLA.O) alleging that its 2014 Model S sedan had a defective battery pack that caused the death of an 18-year old passenger in an accident la... More »

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Several automakers report fall in U.S. sales in November

(Reuters) – Several carmakers reported a drop in new car sales in the United States in November, hurt by rising car prices and higher interest rates as well as further declines in sales of sedans. Ford Motor Co (F.N), Honda Motor Co Ltd (7267.T) and Toyota Mot... More »

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Moelis hires from BlackRock, hedge fund for activist defense team

(Reuters) – Investment bank Moelis & Co said on Monday it has hired an executive from the world’s largest index fund manager, BlackRock Inc, as well as a hedge fund professional, for its team advising companies facing activist shareholders. Ted Moon, who had b... More »

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Grab invests $100 million in Indian hotel startup OYO: source

(Reuters) – Singapore-based ride-hailing firm Grab has invested $100 million in Indian hotel-reservations startup OYO, a source with knowledge of the matter told Reuters on Monday. Both companies are backed by Japan’s SoftBank Group Corp (9984.T). The investme... More »

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NASA selects nine U.S. companies to vie for moon program funding

ORLANDO, Fla. (Reuters) – NASA on Thursday named nine U.S. companies, including Lockheed Martin Corp, that will compete for funding under the space agency’s renewed long-term moon program, a private-public undertaking to develop technology that will explore th... More »

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Tech firms should be made liable for ‘fake news’ on sites: UK…

LONDON (Reuters) – Tech firms like Facebook (FB.O) should be made liable for “harmful and misleading” material on their websites and pay a levy so they can be regulated, British lawmakers said, warning of a crisis in democracy due to misuse of personal data. F... More »

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Papa John’s adopts rights plan to limit founder’s stake

(Reuters) – Papa John’s International Inc (PZZA.O) on Sunday adopted a shareholder rights plan, or a “poison pill”, with a 15 percent trigger to deter existing stockholders from amassing a controlling stake in the company. The company also declared a dividend ... More »

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Ex-Point72 portfolio manager to launch macro hedge fund Entheos:…

NEW YORK (Reuters) – Erik Cetrulo, a former portfolio manager at Steven Cohen’s Point72 Asset Management, is raising funds for a global macro discretionary hedge fund and is targeting a launch in the first quarter of 2019, two sources familiar with the situati... More »

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Uber, Alphabet invest in bike sharing service Lime

(Reuters) – Bike sharing service Lime said on Monday it raised $335 million from a group of investors including ride-sharing firm Uber Technologies Inc and Alphabet Inc (GOOGL.O). Uber will work with Lime as a strategic partner in the electric scooter space wi... More »

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Ford slides deeper into China rut after worst ever first-half…

BEIJING (Reuters) – Ford Motor’s (F.N) China slump intensified, with vehicle sales tumbling 38 percent in June and the automaker recording its worst ever first-half, as buyers shunned its aging models that are awaiting overhauls and flocked to rivals. The U.S.... More »

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Trump on Twitter (July 5): Immigration, Scott Pruitt, EPA

The following statements were posted to the verified Twitter accounts of U.S. President Donald Trump, @realDonaldTrump and @POTUS. The opinions expressed are his own. Reuters has not edited the statements or confirmed their accuracy. @realDonaldTrump : – Congr... More »

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Facebook still evasive over Cambridge Analytica and fake news: UK…

LONDON (Reuters) – Facebook continues to be evasive in its answers to a British parliamentary committee examining a scandal over misuse of the social media company’s data by Cambridge Analytica, the committee’s chair said on Friday. Britain’s digital and media... More »

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Uber to learn London license fate with judge’s ruling on Tuesday

LONDON (Reuters) – Uber will hear on Tuesday if a bid to overturn a ruling stripping it of its license to operate in London, its biggest European market, has succeeded after it said its corporate culture and practice had changed. The taxi-hailing app overhaule... More »

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KPMG to lay off 400 employees in South Africa in latest shake-up

JOHANNESBURG (Reuters) – Global auditor KPMG said on Monday it will lay off up to 400 people in South Africa, in its latest shake-up following a corruption scandal that saw it lose several major clients. The auditor has taken a number of steps since last Septe... More »

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India steps up hunt for origin of mysterious brain-damaging virus

MUMBAI/KOCHI (Reuters) – India began a fresh round of tests to trace the origin of a rare brain-damaging virus that has killed 13 people, a health official said on Monday, as initial tests on animals suspected of carrying the Nipah virus showed no sign of the ... More »

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Chairman Mao stunt backfires at blockchain conference in China

BEIJING (Reuters) – A publicity stunt featuring a Mao Zedong lookalike at a conference on blockchain in China on Monday sparked an uproar on social media, with some users saying the “shameful” disrespect to the founding leader could hurt the industry’s image. ... More »

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Two Chinese bitcoin mining equipment makers plan $1 billion Hong…

HONG KONG (Reuters) – Two Chinese bitcoin mining equipment makers plan to raise up to $1 billion each from Hong Kong listings this year, riding on strong global interest in cryptocurrencies, IFR reported on Tuesday, citing people familiar with the plans. Canaa... More »

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French government urges Air France to pursue reforms as strikes bite

PARIS (Reuters) – The French finance minister on Sunday raised the pressure on Air France managers and unions to resolve a stand-off over wages, saying the government would not ride to the carrier’s rescue as it grapples with worker strikes and a leadership va... More »

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Apple hits record high after Buffett’s Berkshire increases stake

(Reuters) – Apple Inc’s stock hit an all-time high on Friday after Warren Buffett’s Berkshire Hathaway Inc disclosed it bought an additional 75 million shares of the iPhone maker in the first three months of the year. Buffett’s increased stake, which was confi... More »

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Xerox says CEO, board to stay after agreement with Icahn, Deason…

(Reuters) – Xerox Corp (XRX.N) said on Thursday its current board and management team, which included Chief Executive Jeff Jacobson, will stay, after a settlement agreement it had reached with dissenting shareholders to oust them expired. Xerox had said on Tue... More »

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HSBC boosts investments in growth push, unveils $2 billion share…

HONG KONG/LONDON (Reuters) – HSBC Holdings PLC’s (HSBA.L) new chief executive sought to cheer investors with a share buyback of up to $2 billion, even as the bank reported on Friday an unexpected 4 percent drop in first-quarter pre-tax profit due to a surge in... More »

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Ping An Healthcare opens up 4.6 percent in Hong Kong debut

HONG KONG (Reuters) – Ping An Healthcare and Technology Co Ltd (1833.HK) shares opened up 4.6 percent on their market debut in Hong Kong on Friday, as investors jostled for a piece of the fast-growing business. The company, that operates China’s largest online... More »

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UK developing options for satellite system to rival EU’s Galileo

LONDON (Reuters) – Prime Minister Theresa May has asked experts to look into options for a British satellite navigation system to rival the European Union’s Galileo project amid a row over attempts to restrict Britain’s access to sensitive information after Br... More »

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Marathon Petroleum to buy Andeavor for $23 billion

(Reuters) – Marathon Petroleum Corp said on Monday it would buy rival Andeavor for more than $23 billion to form a company that would leapfrog Valero Energy Corp as the largest U.S. refiner by capacity. The cash-and-stock deal values Andeavor at about $152 per... More »

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Sainsbury’s says Asda merger could result in some store sell-offs

LONDON (Reuters) – Sainsbury’s chief executive Mike Coupe said that it was possible that competition authorities would force some stores to be sold to allow the British supermarket chain’s proposed merger with Asda to go ahead. Sainsbury’s and Asda, the UK arm... More »

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Deutsche Telekom leverage to increase on T-Mobile-Sprint deal

FRANKFURT (Reuters) – Deutsche Telekom (DTEGn.DE) said its leverage would increase beyond its target corridor as a result of the takeover by its unit T-Mobile US (TMUS.O) of Sprint Corp (S.N), but will return to the comfort zone in 2021. Deutsche Telekom’s adj... More »

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China to strive to reach targets this year: politburo

BEIJING (Reuters) – China will strive hard to achieve this year’s economic targets, the politburo, a top decision-making body of the ruling Communist Party said on Monday, according to state media. China still faces many difficulties in fighting what the gover... More »

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Facebook’s hidden data haul troubles German cartel regulator

BONN, Germany (Reuters) – That the personal data of tens of millions of Facebook (FB.O) users fell into the wrong hands is troubling politicians, but Germany’s top competition regulator is questioning the sheer volume of information that the social network har... More »

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Wells Fargo agrees to pay $1 billion to settle customer abuses

(Reuters) – Wells Fargo & Co will pay $1 billion to settle with U.S. regulators who say the bank wrongly layered insurance on hundreds of thousands of drivers and routinely hit homebuyers with excessive fees, officials said on Friday. The penalty was a record ... More »

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Elliott adds voice to calls for Whitbread break-up

(Reuters) – Hedge fund Elliott Advisors has become the second activist investor to call for Whitbread (WTB.L) to split its hotel and coffee shop businesses after emerging as the largest shareholder in the British company. Elliott, which disclosed a 6 percent s... More »

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Carl Icahn sells Tropicana casinos in $1.85 billion deal

(Reuters) – Hedge fund manager Carl Icahn is cashing out of casino business Tropicana Entertainment Inc (TPCA.PK) in a deal selling most of its properties and operations for $1.85 billion, Icahn Enterprises and the companies involved said in statements on Mond... More »

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Warburg Pincus in talks to invest in Ant’s $8 billion funding…

HONG KONG (Reuters) – Warburg Pincus LLC [WP.UL] is in talks to invest in a fundraising round for China’s Ant Financial Services Group [ANTFIN.UL] expected to be worth at least $8 billion, people with knowledge of the matter said. The New York-based private eq... More »

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Trump on Twitter (April 15): James Comey, Rasmussen Poll

The following statements were posted to the verified Twitter accounts of U.S. President Donald Trump, @realDonaldTrump and @POTUS. The opinions expressed are his own. Reuters has not edited the statements or confirmed their accuracy. @realDonaldTrump : – Unbel... More »

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Ford’s slow China run persists, sales skid again in March

BEIJING (Reuters) – Ford Motor Co’s business in China continues to falter amid a dearth of fresh products, even though the American automaker earlier this week said it plans to launch two new models in the world’s biggest auto market by the end of the year. Fo... More »

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SpaceX looks to raise $507 million in a new funding round: filing

(Reuters) – Elon Musk-led SpaceX Corp is raising $507 million in a new round of funding, valuing the company at around $26 billion, according to a filing seen by Reuters. New articles of incorporation filed by the company last week and sent to Reuters by priva... More »

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Australian police raid three properties linked to former NAB supplier

SYDNEY (Reuters) – Australian police said it had raided three properties as part of an alleged “multi-million dollar corporate fraud” involving a former supplier for the country’s fourth-biggest lender, National Australia Bank Ltd (NAB.AX). NAB Chief Executive... More »

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Apple says all its facilities now powered by clean energy

(Reuters) – Apple Inc (AAPL.O) on Monday said it had achieved its goal of powering all of the company’s facilities with renewable energy, a milestone that includes all of its data centers, offices and retail stores in 43 countries. The iPhone maker also said n... More »

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Proxy adviser ISS recommends vote for all Wells Fargo board nominees

(Reuters) – Proxy advisory firm Institutional Shareholder Services (ISS) on Friday recommended Wells Fargo & Co shareholders vote for all Wells Fargo board nominees at the bank’s annual meeting on April 24. The backing of the Wells Fargo board by the influenti... More »

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Trump on Twitter (April 1): DACA, NAFTA

The following statements were posted to the verified Twitter accounts of U.S. President Donald Trump, @realDonaldTrump and @POTUS. The opinions expressed are his own. Reuters has not edited the statements or confirmed their accuracy. @realDonaldTrump : – HAPPY... More »

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Shrinking junk bond issuance keeps U.S. high-yield prices afloat

NEW YORK (Reuters) – The junk bond rally may be over, but investors should not expect a sharp unraveling. Low supply in new high-yield bond offerings has kept prices afloat despite persistent investor outflows. High-yield bond funds have had net outflows in 10... More »

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Activist investors say their voices are being heard by Japan Inc

TOKYO (Reuters) – Activist investors in Japan may be struggling to get companies to embrace their proposals but are optimistic that management is warming to shareholder activism that will likely shape more of Corporate Japan’s decision making. Activist investm... More »

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Russian billionaire Potanin buys 2 percent of Nornickel from…

MOSCOW (Reuters) – Russian billionaire Vladimir Potanin’s Interros Holding said it had completed the purchase from businessman Roman Abramovich of a 2 percent stake in Norilsk Nickel, which has been the subject of a legal battle. Abramovich struck a provisiona... More »

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Slovenia claims world’s first blockchain monument

KRANJ, Slovenia (Reuters) – The first monument to the blockchain technology that underpins crypto-currencies took center stage on Tuesday on a roundabout in Slovenia, authorities in the country’s fourth largest city said. Weighing three tonnes and with a diame... More »

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Merkel denies delaying euro zone reforms

BERLIN (Reuters) – German Chancellor Angela Merkel on Monday denied striking an agreement with France to delay the planned proposal of euro zone reforms at a summit of European leaders this month “I have never said anything about delays,” Merkel told a joint n... More »

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North Korean ‘caution’ seen in announcing stance on upcoming…

FILE PHOTO: North Korean leader Kim Jong Un meets members of the special delegation of South Korea’s President in this photo released by North Korea’s Korean Central News Agency (KCNA) on March 6, 2018. KCNA/via Reuters/File Photo SEOUL (Reuters) – North Korea... More »

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Exclusive: Mexican state pension fund spent millions on failing…

FILE PHOTO: The logo of Mexican construction company ICA is seen in Mexico City, March 8, 2016. REUTERS/Edgard Garrido MEXICO CITY (Reuters) – Mexico’s state workers’ pension fund plowed more than $20 million into ICA (ICA.MX) and became the largest shareholde... More »

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Brexit and NAFTA dispute making firms wary, says Canadian minister

FILE PHOTO – Minister of Finance Bill Morneau is interviewed in the foyer of the House of Commons after tabling the budget on Parliament Hill in Ottawa, Ontario, Canada, February 27, 2018. REUTERS/Blair Gable LONDON (Reuters) – There are parallels between the ... More »

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DowDuPont says Andrew Liveris to step down, names CEO for new Dow

FILE PHOTO: Andrew Liveris, Chairman and CEO The Dow Chemical Company attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 17, 2017. REUTERS/Ruben Sprich (Reuters) – U.S. chemicals producer DowDuPont Inc said on Monday its Execut... More »

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Thomson Reuters launches bitcoin sentiment gauge for crypto traders

The Thomson Reuters logo is seen on the company building in Times Square, New York, U.S., January 30, 2018. REUTERS/Andrew Kelly LONDON (Reuters) – Thomson Reuters Corp is to track and analyze chatter about bitcoin on hundreds of news and social media websites... More »

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In Ghouta’s shelters, terrified Syrians await the next bomb

People hold a warning leaflet dropped by plane entitled “Keep yourself and your family aware” in the besieged town of Douma, Eastern Ghouta, in Damascus, Syria March 11, 2018. REUTERS/ Bassam Khabieh BEIRUT (Reuters) – As the Syrian army pushes deeper into eas... More »

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Bangladesh plane carrying 71 people crashes in Nepal

Wreckage of an airplane is pictured as rescue workers operate at Kathmandu airport, Nepal March 12, 2018. REUTERS/ Navesh Chitrakar KATHMANDU (Reuters) – A Bangladeshi aircraft carrying 67 passengers and four crew crashed on Monday while coming in to land at t... More »

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Rescue workers pull bodies out of plane wreckage in Nepal

KATHMANDU, (Reuters) – Rescue workers recovered badly burnt bodies from the wreckage of a Bangladeshi aircraft that crashed while coming in to land at Nepal’s Kathmandu airport on Monday, a Reuters witness said. There were 71 people on board the plane and 17 h... More »

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German utilities overhaul supports European stocks

The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, March 12, 2018. REUTERS/Staff/Remote MILAN (Reuters) – European shares hit their highest level in almost two weeks on Monday, boosted by gains among German utilities ... More »

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Oil, briefly up on lower rig counts, falls on U.S. output outlook

FILE PHOTO: A general view shows the al-Shuaiba oil refinery in southwest Basra, Iraq April 20, 2017. REUTERS/Essam Al-Sudani LONDON (Reuters) – Oil prices fell on Monday on expectations that U.S. output will rise this year, erasing earlier gains buoyed by low... More »

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Toolbox trade wars: How a sure winner in U.S. dispute has yet to…

The glass entranceway to Metal Box InternationalÕs toolbox factory is seen in Franklin Park, Illinois, U.S., February 21, 2018. Picture taken February 21, 2018. REUTERS/Timothy Aeppel FRANKLIN PARK, Ill. (Reuters) – Nestled in an industrial park near the end o... More »

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World stocks bask in U.S. jobs data glow

The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, March 7, 2018. REUTERS/Staff/Remote LONDON (Reuters) – World stocks surged to a two-week high on Monday after strong U.S. jobs data at the end of last week helped tak... More »

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Euro gains, dollar drops, as risk appetite revives

FILE PHOTO: A picture illustration of Euro banknotes, April 25, 2014. REUTERS/Dado Ruvic/Illustration/File Photo LONDON (Reuters) – The euro gained on Monday and the dollar dropped as last week’s strong U.S. jobs numbers and receding fears over a trade war hel... More »

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Trading in Samsung Elec to be halted for three days before stock…

The logo of Samsung is seen on a building during the Mobile World Congress in Barcelona, Spain February 25, 2018. REUTERS/Yves Herman SEOUL (Reuters) – South Korea’s stock exchange said on Monday that trading in Samsung Electronics Co Ltd’s shares will be halt... More »

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GSK wins new reprieve as Hikma’s generic Advair delayed again

(Reuters) – GlaxoSmithKline has won a further reprieve for its blockbuster Advair lung drug after U.S. regulators insisted Hikma Pharmaceuticals conduct a further clinical study evaluating its generic version of the drug. The Jordan-based firm said on Monday i... More »

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AstraZeneca sees pivotal lung cancer trial results later in 2018

FILE PHOTO: The logo of AstraZeneca is seen on medication packages in a pharmacy in London April 28, 2014. REUTERS/Stefan Wermuth/File Photo LONDON (Reuters) – AstraZeneca now expects a key lung cancer study of two immunotherapy drugs to produce overall surviv... More »

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Artificial intelligence can make power firms more efficient:…

FRANKFURT (Reuters) – Utilities can increase their efficiency by using more artificial intelligence (AI) technology, such as software to predict demand swings in the power grid or to control home appliances, consultancy Roland Berger said. European utilities c... More »

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Amazon video service looking to expand Indian regional content

FILE PHOTO: Employees of Amazon India are seen behind a glass bearing the company’s logo inside its office in Bengaluru, India, August 14, 2015. REUTERS/Abhishek N. Chinnappa/File photo (This March 11 story has been refiled to reflect changed name of Zee Enter... More »