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How U.S. bike companies are steering around Trump’s China tariffs

(Reuters) – U.S.-based bicycle manufacturer Kent International has found a way around President Donald Trump’s tariffs – by shifting production out of China. Like almost all U.S. bike makers, Kent has long relied on low-cost Chinese labor and parts, but Trump’... More »

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African nations sense upper hand in minerals stand-off

CAPE TOWN (Reuters) – African nations with rich reserves of copper and cobalt needed for the shift to electric vehicles sense they have the upper hand in negotiations with mining companies that are struggling to secure better terms. Days of talks at the Mining... More »

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Exclusive: U.S. considers withdrawal of zero tariffs for India -…

NEW DELHI (Reuters) – India could lose a vital U.S. trade concession, under which it enjoys zero tariffs on $5.6 billion of exports to the United States, amid a widening dispute over its trade and investment policies, people with close knowledge of the matter ... More »

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Shell leads cash race but Exxon catching up

LONDON (Reuters) – Royal Dutch Shell widened its lead over Exxon Mobil as king of cash among the world’s top oil and gas companies last year but its U.S. rival could catch up with its investment drive in new production. The five leading firms, known as oil maj... More »

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U.S. Steel wins tax breaks from one of America’s poorest cities

GARY, Indiana (Reuters) – United States Steel Corporation founded Gary, Indiana in 1906 – naming it after co-founder Elbert Henry Gary – and the city’s fortunes have been closely tied to the company ever since. When the firm started losing business to cheap As... More »

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New dam disaster puts Vale CEO, deals and dividends under scrutiny

SAO PAULO (Reuters) – When Fabio Schvartsman took the reins of Vale SA in 2017, he suggested a motto for the world’s largest iron miner, turning the page on a tailings dam disaster that hit a small Brazilian town two years before: “Mariana, never again.” That ... More »

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Exclusive: New documents link Huawei to suspected front companies…

LONDON/HONG KONG (Reuters) – The U.S. case against the chief financial officer of China’s Huawei Technologies, who was arrested in Canada last month, centers on the company’s suspected ties to two obscure companies. One is a telecom equipment seller that opera... More »

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Japan stocks are a bargain but there are few takers

TOKYO (Reuters) – As the developed world’s cheapest equity market and home to a rising breed of more profitable companies, the Japanese market should be a safe investment bet. Yet fund managers are bypassing it on fears ebbing global growth could knock Japan’s... More »

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Rival warplane projects underline Europe’s divisions

FARNBOROUGH, England (Reuters) – Britain’s showy launch of a new fighter jet project at this week’s Farnborough Airshow has laid bare political tensions that are threatening to tear Europe apart and deepened scepticism about the future of European defense coop... More »

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Old fashion: Vintage boom buoys RealReal and jolts luxury labels

PARIS/NEW YORK (Reuters) – Second-hand fashion, once confined to thrift stores, is outstripping sales growth in the primary luxury goods sector, helping market leader The RealReal expand its business and prompting international labels to look at tie-ups. Sales... More »

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Curbs on Chinese investment could hit Detroit and Silicon Valley

DETROIT (Reuters) – U.S. President Donald Trump’s threat to block Chinese investment in U.S. companies could be trouble for a number of American automotive and technology companies using Chinese funds to develop electric and self-driving cars and related servi... More »

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Hitting cancer early: AstraZeneca’s bid to outmaneuver rivals

LONDON (Reuters) – AstraZeneca (AZN.L) suffered its biggest daily share price drop a year ago after a key cancer drug trial failed amid feverish speculation the chief executive might quit. Yet today two-thirds of analysts tracked by Thomson Reuters recommend t... More »

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Loeb’s Third Point takes new approach in battle with Nestle

BOSTON (Reuters) – For a year, billionaire hedge fund manager Daniel Loeb has watched quietly from afar as Nestle SA tries to energize its business. But his patience has worn thin and he has been telling associates and his own investors that time is now up for... More »

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Investors seek cover as trade battles rattle world markets

LONDON (Reuters) – Investors have sharply increased their use of hedging strategies, signaling concerns that the intensifying trade battle between the United States and China might hit economies from Germany to South Korea. Money managers say that mounting bar... More »

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Coming soon from Netflix: Three dozen billboards in Hollywood

NEW YORK and LOS ANGELES (Reuters) – Netflix Inc, the streaming video pioneer that revolutionized television, is investing in one of the oldest forms of media to gain an edge in the raging battle for online viewers and top-notch talent. Known for acclaimed sho... More »

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Facing a referendum on money, Swiss traders look for hedges

LONDON (Reuters) – Switzerland’s banking and monetary system is facing the possibility of a huge shake-up, and while the possibility looks remote, investors are buying up insurance against swings in the franc and the shares of the biggest Swiss lenders. Swiss ... More »

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Big Tesla investors look like firewall for Elon Musk

(Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk faces votes at Tuesday’s shareholder meeting that will challenge his grip on the electric carmaker, but he may be able to count on some powerful friends: big fund managers likely to be fans. These stockp... More »

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Software and stealth: how carmakers hike spare parts prices

LONDON/PARIS (Reuters) – Carmakers including Renault, Jaguar Land Rover and Peugeot have boosted revenues by over $1 billion in the past decade by using sophisticated pricing software, according to sales presentations prepared by the software vendor, Accenture... More »

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Sony’s push into entertainment aims for stability, not splashiness

TOKYO (Reuters) – Sony Corp’s (6758.T) new chief executive is embracing entertainment content, but for now appears to be steering clear of direct competition with tech giants such as Apple Inc (AAPL.O) and Netflix Inc (NFLX.O). The company last week announced ... More »

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Nicaragua protests erode pillars of support for Ortega

MANAGUA (Reuters) – A thuggish response to weeks of protests has eroded carefully constructed pillars of support in the Church, military and business world for Nicaraguan President Daniel Ortega, emboldening calls for the ouster of the former Marxist guerrilla... More »

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How Canada’s Brookfield snatched bargain assets amid Brazil panic

SAO PAULO (Reuters) – Rampant corruption scandals and a deep recession soured many foreign investors on Brazil in recent years, but one Canadian group saw opportunity. Brookfield Asset Management Inc and its subsidiaries have made nearly a dozen major acquisit... More »

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EU fears new Italian policies could set stage for next euro zone…

BRUSSELS (Reuters) – Italy’s emerging ruling coalition is likely to put deeper euro zone integration on hold and could set the stage for the bloc’s next crisis if it delivers on its tax-cutting and high-spending policies, European policymakers and economists f... More »

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U.S. bank stock gains may stall after two-year rally

(Reuters) – After two years of sharp gains for U.S. bank stocks, investors betting on another big boost for 2018 may be disappointed unless loan growth accelerates or regulations slacken considerably. The S&P 500 bank sector index .SPXBK beat first quarter ear... More »

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Shipping’s financiers turning the tide on shipbreaking practices

LONDON (Reuters) – The shipping industry has long been criticized by campaigners for allowing vessels to be broken up on beaches, endangering workers and polluting the sea and sand. Now, it is being called to account from a quarter that may have a bit more clo... More »

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Some U.S. fund managers finally convinced oil rally is for real

NEW YORK (Reuters) – U.S. fund managers are barreling into the energy sector by making broad bets on anything connected with oil, finally convinced that gains in crude prices – on track for their fourth consecutive quarterly gain, the longest such stretch for ... More »

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Dollar surge bringing emerging market rate cut cycle to a halt

LONDON (Reuters) – A resurgent dollar and higher borrowing costs are smashing through Argentina and Turkey’s currencies like a wrecking ball and raising the likelihood more broadly that emerging markets’ three-year long interest rate cutting cycle is at an end... More »

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Last man standing: lonely Fed tightening spurs dollar surge

LONDON (Reuters) – As speculation about interest rate rises and policy ‘normalization’ in the euro zone, Japan, Britain and China falls away rapidly, the U.S. Federal Reserve’s now lonely monetary tightening has suddenly supercharged the dollar. The revival of... More »

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Cosby conviction could mean hefty damages in civil cases: legal…

NEW YORK (Reuters) – On top of the years in prison comedian Bill Cosby faces for sexual assault, his criminal conviction increases the likelihood he will have to pay hefty damages in civil lawsuits brought by women who say he assaulted or defamed them, legal e... More »

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Higher oil prices could be a game changer for Asia’s trade-gap trio

SINGAPORE/HONG KONG (Reuters) – Asia’s most externally vulnerable economies – India, Indonesia and the Philippines – have just taken a one-two punch. U.S. 10-year Treasury bond yields US10YT=RR hit 3 percent this week, a level long touted as one to watch for p... More »

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The auto plants of the future may have a surprisingly human touch

(Reuters) – Carmakers have big plans for their next generation of factories: smarter designs, artificial intelligence and collaborative robots building a wide range of vehicles on the same line. The plants will also feature a component they say is the secret i... More »

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China may backslide on deleveraging if trade war looms

BEIJING (Reuters) – China’s efforts to reduce its reliance on debt and find a more sustainable route to grow its economy may be derailed by the simmering trade dispute with the United States, economists warn. This was the year that Beijing was expected to step... More »

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Rails, truckers have gotten cheap but trade wars a risk

NEW YORK (Reuters) – Many U.S. stocks cheapened up during the first quarter’s choppy trading scene, relieving some concern investors had about lofty valuations. But the companies that move goods through a humming economy now look among the market’s best bargai... More »

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J&J Baby Powder litigation takes new focus with asbestos claims

NEW YORK (Reuters) – A $117 million verdict against Johnson & Johnson (JNJ.N) and a supplier in favor of a man who said his asbestos-related cancer was caused by long-term use of J&J’s Baby Powder could open a new front for thousands of cases claiming the wide... More »

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Insect farms gear up to feed soaring global protein demand

LANGLEY, British Columbia (Reuters) – Layers of squirming black soldier fly larvae fill large aluminum bins stacked 10-high in a warehouse outside of Vancouver. They are feeding on stale bread, rotting mangoes, overripe cantaloupe and squishy zucchini. But thi... More »

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Trade war backfire: Steel tariff shrapnel hits U.S. farmers

KANE COUNTY, Ill. (Reuters) – Lucas Strom, who runs a century-old family farm in rural Illinois, canceled an order to buy a new $71,000 grain storage bin last month – after the seller raised the price 5 percent in a day. The reason: steel prices jumped right a... More »

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U.S. investors wanting out of gun stocks find it’s not so easy

The barrels of AR-15 rifles are displayed for sale at the Guntoberfest gun show in Oaks, Pennsylvania, U.S., October 6, 2017. REUTERS/Joshua Roberts NEW YORK (Reuters) – In the three weeks since America’s deadliest high school took the lives of 17 students and... More »

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Italy’s 5-Star rebels heading for a date with the establishment?

5-Star Movement founder Beppe Grillo (L) speaks next leader Luigi Di Maio during the finally rally ahead of the March 4 elections in downtown Rome, Italy, March 2, 2018. REUTERS/Tony Gentile ROME (Reuters) – The anti-establishment 5-Star Movement has emerged a... More »

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As Congress moves to drop tariffs, some U.S. firms cry foul

Korchmar President Mike Korchmar (L) and CEO Michael Korchmar (R) display a bag assembled at the Naples, Florida factory of Korchmar, a family-owned business in Naples, Florida, U.S., February 13, 2018. Picture taken on February 13, 2018. REUTERS/Andy Sullivan... More »

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Big pharma, big data: why drugmakers want your health records

FILE PHOTO: A surgery nurse is seen beside the heart beat monitor in the operating theatre of the Unfallkrankenhaus Berlin (UKB) hospital in Berlin, Germany February 29, 2008. REUTERS/Fabrizio Bensch /File Photo LONDON (Reuters) – Drugmakers are racing to scoo... More »

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Lego builds foundations in China classrooms as old markets slow

FILE PHOTO: A customer carries a Lego box at a Lego store in Beijing, China January 13, 2018. REUTERS/Jason Lee/File Photo BEIJING/SHANGHAI (Reuters) – Danish toymaker Lego is hoping to build a following with Chinese parents by promoting its place in the class... More »

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Republicans face first test of tax cuts’ power to sway voters

A window announcing support for Congressional candidate Rick Saccone is seen on High Street in Waynesburg, Pennsylvania, U.S., February 14, 2018. Picture taken February 14, 2018. REUTERS/Maranie Staab WASHINGTON, Penn (Reuters) – Mark Marran, an operations man... More »

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As mining investors push caution, Glencore differs from rivals

FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, November 20, 2012. REUTERS/Arnd Wiegmann/File Photo TORONTO/MELBOURNE (Reuters) – As shareholders push the world’s cash-rich miners to ... More »

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U.S. market gurus who predicted selloff say current calm an illusion

FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 8, 2018. REUTERS/Brendan McDermid NEW YORK (Reuters) – You ain’t seen nothing yet. Some veteran investors who were vindicated in calling for a pullback in s... More »

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Pot Pharm: Booming Canada weed sector plots next-wave medicines

A worker collects cuttings from a marijuana plant at the Canopy Growth Corporation facility in Smiths Falls, Ontario, Canada, January 4, 2018. REUTERS/Chris Wattie TORONTO (Reuters) – Canopy Growth Corp, one of the world’s biggest medical marijuana producers, ... More »

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North Korea heads for diplomacy gold medal at Olympics: analysts

President of the Presidium of the Supreme People’s Assembly of North Korea Kim Young Nam and Kim Yo Jong, the sister of North Korea’s leader Kim Jong Un, are greeted by South Korea’s Prime Minister Lee Nak-yeon as they smile before a banquet in Seoul, South Ko... More »

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Bond vigilantes awaken counterparts in the stock market

A specialist trader works at his post on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., February 9, 2018. REUTERS/Brendan McDermid NEW YORK (Reuters) – Bond vigilantes could be finding allies in the stock market. With inflation fears back ... More »

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Mom-and-pop investors undeterred by wild U.S. stock market

Traders work on the floor of the New York Stock Exchange ahead of the opening bell in New York, U.S., February 7, 2018. REUTERS/Brendan Mcdermid NEW YORK (Reuters) – As the U.S. stock market suffered its worst selloff in more than six years on Monday, Richmond... More »

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A decade after recession, a jump in U.S. states with wage gains

Newly hired employees take a break from training to pose for a group photo at the chain’s soon-to-open 54th outlet in Oakland, California ,U.S., January 24, 2018. REUTERS/Ann Saphir OAKLAND, Calif./CANTON, N.Y./WASHINGTON (Reuters) – The kind of pay raises for... More »

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Fed puts brakes on Wells Fargo when bank needs to step on gas

FILE PHOTO: A Wells Fargo bank sign is pictured in downtown Los Angeles, California, U.S. August 10, 2017. REUTERS/Mike Blake/File Photo BOSTON (Reuters) – The Federal Reserve’s surprise ban on Wells Fargo & Co growing its balance sheet comes at a difficult ju... More »

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U.S. asset managers shake up equity research as banks cut back

FILE PHOTO: The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. REUTERS/Toru Hanai/File Photo NEW YORK (Reuters) – As new rules spur Wall Street banks to further shrink their research budgets, U.S. asset management... More »

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Exclusive: How Tesla’s first truck charging stations will be built

FILE PHOTO: Tesla’s new electric semi truck is unveiled during a presentation in Hawthorne, California, U.S., November 16, 2017. REUTERS/Alexandria Sage/File Photo SEATTLE (Reuters) – Elon Musk, the chief executive of Tesla Inc, has said little about how he pl... More »

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Texas shale challenges North Sea crude as world oil benchmark

FILE PHOTO: Workers hired by U.S. oil and gas company Apache Corp drill a horizontal well in the Wolfcamp Shale in west Texas Permian Basin near the town of Mertzon, Texas, U.S., October 29, 2013. REUTERS/Terry Wade/File Photo NEW YORK (Reuters) – Surging shal... More »

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Voting to survive: Romanians elect mayors despite graft record

A horse-drawn carriage is pictured on a street in Dragomiresti, Dambovita county, Romania, January 23, 2018. Picture taken January 23, 2018. Inquam Photos/Octav Ganea via REUTERS DRAGOMIRESTI, Romania (Reuters) – Romanian mayor Dragos Vladulescu has a criminal... More »

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Why Canada is the next frontier for shale oil

FILE PHOTO: A construction site at the new Suncor Fort Hills oil sands mining operations near Fort McMurray, Alberta, Canada, September 17, 2014. REUTERS/Todd Korol/File Photo CALGARY, Alberta (Reuters) – The revolution in U.S. shale oil has battered Canada’s ... More »

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Digital publishers ramp up TV push to nab viewers, ad dollars

(Reuters) – Online media companies ATTN:, BuzzFeed and Group Nine Media are making a bigger push into television, executives said, aiming to grab more of the TV advertising market and depend less on social media for viewers. While the companies have long lured... More »

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Euro schism reopens in central Europe as EU pushes reform

A woman walks in front of a currency exchange shop in the town of Esztergom, Hungary November 11, 2017. Picture taken November 11, 2017. REUTERS/Laszlo Balogh ESZTERGOM, Hungary/STUROVO, Slovakia (Reuters) – On the euro zone’s eastern flank, some Slovaks in th... More »

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End of a chip boom? Memory chip price drop spooks investors

Mobile memory chips made by chipmaker SK Hynix are seen in this picture illustration taken in Seoul May 10, 2013. REUTERS/Lee Jae-Won SEOUL (Reuters) – After a blistering year-and-a-half long surge, a sudden drop in some memory prices, followed by Samsung Elec... More »

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Drugmakers see a pricing blueprint in an $850,000 gene therapy

SAN FRANCISCO (Reuters) – Global drugmakers are looking to a tiny biotech’s $850,000 therapy for a rare type of blindness as a model for getting paid for highly expensive – and effective – new medicines. Spark Therapeutics Inc plans to launch its recently appr... More »

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Walmart wage hike may show wage pressures building for lowest paid

FILE PHOTO: Workers prepare their store for customers at a newly built Walmart Super Center prior to its opening in Compton, California, U.S., January 10, 2017. REUTERS/Mike Blake/File Photo WASHINGTON (Reuters) – Walmart’s tit-for-tat minimum wage battle with... More »

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China’s top developers poised for strong sales as debt woes linger

FILE PHOTO: Apartment blocks are pictured in Beijing, China December 16, 2017. REUTERS/Jason Lee/File Photo HONG KONG (Reuters) – China’s large developers are tightening their hold on the country’s real estate market, capturing an ever-larger share even as sal... More »

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Road to bitcoin ETF paved with red tape

A Bitcoin logo is seen on a cryptocurrency ATM in Santa Monica, California, U.S., January 4, 2018. REUTERS/Lucy Nicholson NEW YORK (Reuters) – The going is getting tough for U.S. companies hoping to win the race to bring a bitcoin exchange-traded fund to marke... More »

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Cryptocurrency stocks holding gains despite bitcoin pullback

FILE PHOTO: Sparks glow from broken Bitcoin (virtual currency) coins in this illustration picture, December 8, 2017. REUTERS/Dado Ruvic/Illustration/File Photo NEW YORK (Reuters) – Stocks that surged in recent weeks because of the cryptocurrency mania have man... More »

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Hurricane-hit catastrophe bond managers plan new funds

LONDON (Reuters) – Hedge funds and other managers of catastrophe bond funds racked up some of the worst losses in more than a decade from this year’s hurricanes and wildfires. But a year that is shaping up to be the costliest on record for insurance losses fro... More »

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Fox’s Star to bring Disney cash and cricket in India

The 21st Century Fox logo is seen outside the News Corporation headquarters in Manhattan, New York, U.S., April 29, 2016. REUTERS/Brendan McDermid/File photo (Reuters) – Walt Disney Co’s deal with Twenty-First Century Fox Inc gives the world’s best-known enter... More »

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Saudi Arabia says cinemas will be allowed from early 2018

DUBAI (Reuters) – Saudi Arabia said on Monday that public cinemas would be allowed in the conservative kingdom and the first cinemas were likely to open early next year. “As the industry regulator, the General Commission for Audiovisual Media has started the p... More »

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Merck raises stakes in lung cancer as rivals close in

LOS ANGELES (Reuters) – Merck & Co Inc, maker of the only immunotherapy approved for patients newly-diagnosed with the most common type of lung cancer, could solidify its lead by playing the long game, even as rivals edge closer. Shares of Merck have fallen 10... More »

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Alibaba redraws retail fault lines with bricks-and-mortar push

FILE PHOTO: A sign of Alibaba Group is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 3, 2017. REUTERS/Aly Song/File Photo HANGZHOU, China (Reuters) – In a small village shop near the eastern Chinese city of Hang... More »