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UK to ban Huawei from 5G network

LONDON (Reuters) – Prime Minister Boris Johnson’s government will ban Huawei from Britain’s 5G network by ordering telecoms companies to remove its equipment by 2027, Media Secretary Oliver Dowden said on Tuesday. Operators will not be able to purchase 5G comp... More »

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Euro zone industry output recovers less than expected

BRUSSELS (Reuters) – Euro zone industrial production rose in May, official estimates showed on Tuesday, but the recovery from lockdown-induced record declines March and April was lower than expected and far from offsetting past drops. Manufacturing output in t... More »

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Equities hit five-month peak, bonds dip, as earnings season starts

NEW YORK (Reuters) – World equity benchmarks hit a five-month peak and perceived safe -havens such as the dollar and U.S. government bonds dipped on Monday as investors turned to second-quarter earnings for signs that corporate profits will recover from the ec... More »

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Britain set to ban Huawei from 5G, though timescale unclear

LONDON (Reuters) – Prime Minister Boris Johnson is set to ban Huawei from Britain’s 5G network in a landmark decision that will anger Beijing but win plaudits from President Donald Trump as the United States grapples with China’s rising economic and technologi... More »

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France reduces Chinese flights to Paris in tit-for-tat row

PARIS (Reuters) – France’s government on Monday started restricting Chinese airlines to one passenger flight to France per week, saying it was acting in response to restrictions imposed by Beijing on French carriers flying to China. “From July 13, Chinese comp... More »

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Oil dips on surge in COVID-19 infections

LONDON (Reuters) – Oil prices fell on Monday on a record daily rise in global coronavirus cases, with big spikes in infections over the weekend in the United States, while traders await an OPEC meeting expected to recommend an easing of supply cuts. Brent crud... More »

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German study shows low coronavirus infection rate in schools

BERLIN (Reuters) – Very few of 2,000 school children and teachers tested in the German state of Saxony showed antibodies to COVID-19, a study found on Monday, suggesting schools may not play as big a role in spreading the virus as some had feared. Germany bega... More »

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EU top court to rule in landmark Facebook, Schrems privacy case

BRUSSELS (Reuters) – Europe’s top court will on Thursday rule on the legality of tools companies use to transfer Europeans’ data around the world, in the latest clash between Facebook and Austrian privacy activist Max Schrems. If the court finds the mechanisms... More »

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Ubisoft shares sink after misconduct review

PARIS (Reuters) – Ubisoft (UBIP.PA) shares dropped 9% on Monday after the French video games group said over the weekend that three senior managers were leaving the company following a review into allegations of inappropriate behaviour. Ubisoft, which makes ga... More »

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UK government to make Huawei statement on Tuesday

LONDON (Reuters) – British minister Oliver Dowden will make a statement to parliament on Huawei some time after 1130 GMT on Tuesday, the opposition Labour Party said on Twitter. Britain is set to ban Huawei from Britain’s 5G network in a landmark decision that... More »

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Actor Depp concludes evidence in UK libel trial

LONDON (Reuters) – Movie star Johnny Depp on Monday concluded giving evidence in his libel action against Britain’s Sun newspaper after five days in the witness box, again rejecting accusations he had hit his ex-wife Amber Heard and accusing her of using viole... More »

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Racing Point confident they can see off Renault protest

LONDON (Reuters) – Racing Point accused Formula One rivals Renault on Monday of making a “misconceived and poorly informed” protest against them at the Styrian Grand Prix and said they were confident of winning. Stewards said on Sunday that the protest was adm... More »

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Huawei to request UK to delay 5G network removal – The Times

(Reuters) – China’s Huawei Technologies has requested a meeting with UK Prime Minister Boris Johnson to work out a deal to delay its potential removal from the country’s 5G phone network, the Sunday Times newspaper reported on Sunday. The Chinese telecoms equi... More »

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Badminton: BWF seeking further advice on Chinese tournaments

(Reuters) – The Badminton World Federation (BWF) are seeking more information from China about its decision to cancel all international sport in the country this year before they make a decision on the season-ending World Tour Finals. The World Tour Finals, sc... More »

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Bond investors wait for more headlines on EU recovery fund

AMSTERDAM (Reuters) – Euro zone bond yields held their ground on Thursday with investors’ main focus expected to be any new developments on the European Union’s recovery fund, which aims to help the region’s economy recover from the coronavirus crisis. Hopes a... More »

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Scientists warn of potential wave of COVID-linked brain damage

LONDON (Reuters) – Scientists warned on Wednesday of a potential wave of coronavirus-related brain damage as new evidence suggested COVID-19 can lead to severe neurological complications, including inflammation, psychosis and delirium. A study by researchers a... More »

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European stocks slip as hopes of post-pandemic rebound fade

(Reuters) – European shares fell on Tuesday as surging U.S. coronavirus cases and forecasts for a deeper-than-feared recession in the euro zone dimmed optimism around a post-pandemic rebound. The pan-European STOXX 600 index slipped 0.6%, falling back from a n... More »

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EU sees deeper recession, less steep rebound for euro zone

BRUSSELS (Reuters) – The euro zone economy will drop deeper into recession this year and rebound less steeply in 2021 than previously thought, the European Commission forecast on Tuesday, with France, Italy and Spain struggling the most due to the COVID-19 pan... More »

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Big Four told to ring fence auditing in Britain by June 2024

LONDON (Reuters) – PwC, Deloitte, KPMG and EY should ring fence auditing in Britain as a separate business by June 2024, their regulator said on Monday in one of the most sweeping changes to the sector globally to improve audit quality. Corporate failures at b... More »

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Lloyds Bank CEO António Horta-Osório to leave next year

(Reuters) – Lloyds Banking Group (LLOY.L) Chief Executive António Horta-Osório said on Monday he would step down next year after nearly a decade at the helm of Britain’s biggest domestic bank. While his departure had been expected, it leaves Lloyds with the ta... More »

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UK new car sales post smaller slump in June

LONDON (Reuters) – British new car registrations fell by an annual 35% in June, the smallest drop since February, as many dealerships reopened after coronavirus lockdown measures were lifted. A total of 145,377 new cars were registered in June, leaving year-to... More »

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Italian film composer Ennio Morricone dies aged 91

ROME (Reuters) – Ennio Morricone, the Italian composer whose haunting scores to Spaghetti Westerns like “A Fistful of Dollars” and “The Good, the Bad and the Ugly” helped define a cinematic era, has died, his lawyer said on Monday. He was 91. Morricone had bro... More »

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Don’t forget us! Paris tour guides protest outside Louvre

PARIS (Reuters) – Several dozen Paris tour guides wearing masks and holding Mona Lisa portraits protested outside the Louvre museum on Monday for more support from the government to help them ride out the coronavirus crisis and a dearth of tourists. They gathe... More »

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UK decision on Huawei not set in stone, British minister says

LONDON (Reuters) – Britain’s decision to allow China’s Huawei to play a limited role in building its 5G network is not “fixed in stone” and is being reviewed following the imposition of U.S. sanctions, culture minister Oliver Dowden said on Monday. Britain gra... More »

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Russia reports more than 6,600 new coronavirus cases

MOSCOW (Reuters) – Russia’s official coronavirus case tally, the fourth largest in the world, rose to 687,862 on Monday after officials reported 6,611 new infections in the last 24 hours. Authorities also said 135 people had died overnight, bringing Russia’s o... More »

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Moderate rebound in German industry orders points to slow recovery

BERLIN (Reuters) – Orders for German industrial goods rose by 10.4% in May, rebounding from their biggest drop since records began in 1991 the previous month, data showed on Monday, as demand picked up after lockdown measures to fight the coronavirus were lift... More »

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UK insurer Aviva CEO Tulloch steps down, Blanc appointed

LONDON (Reuters) – Aviva (AV.L) CEO Maurice Tulloch is stepping down with immediate effect for family health reasons, the UK insurer said on Monday, naming independent director and former Zurich Insurance executive Amanda Blanc as his replacement. It’s the sec... More »

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Make a vaccine? I’m trying to teach my kids the alphabet

LONDON/BERLIN/MILAN (Reuters) – It’s tough to do any useful work when you’re stuck at home, struggling to home-school bickering kids, let alone when you’re trying to produce a COVID-19 vaccine. British drugmaker AstraZeneca (AZN.L) had spent years preparing fo... More »

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Djokovic’s event taught us to be cautious: French Open director

MUMBAI (Reuters) – French Open organizers are taking every precaution to ensure the Grand Slam does not meet the same fate as Novak Djokovic’s Adria Tour, which was abandoned after several players tested positive for COVID-19, tournament director Guy Forget ha... More »

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One fifth of German firms fear for their survival amid pandemic: Ifo

BERLIN (Reuters) – Around one fifth of German companies (21%) believe their survival is threatened by the coronavirus crisis, Germany’s Ifo institute said on Monday, with travel agents, hotels and restaurants particularly concerned. “We could see a wave of ins... More »

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Germany’s confirmed coronavirus cases rise by 219 to 196,554: RKI

BERLIN, Jul 06 (Reuters) – The number of confirmed coronavirus cases in Germany increased by 219 to 196,554, data from the Robert Koch Institute (RKI) for infectious diseases showed on Monday. The reported death toll rose by 4 to 9,016, the tally showed. Sourc... More »

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DeChambeau muscles his way to three-shot victory in Detroit

(Reuters) – A bulked-up Bryson DeChambeau, who has been knocking on the door since the PGA Tour’s return from a COVID-19 hiatus, finally blew it open as he cruised to victory at the Rocket Mortgage Classic in Detroit on Sunday. World number 10 DeChambeau, who ... More »

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Rocket Lab vehicle fails to reach orbit, loses payload of satellites

(Reuters) – A rocket from small-satellite launch firm Rocket Lab failed to reach orbit minutes after a successful liftoff from New Zealand on Saturday, the company said, losing its payload of seven small satellites it had intended to carry to space. “An issue ... More »

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Scaled-down Czech film festival opens in empty auditorium

PRAGUE (Reuters) – A Czech film festival disrupted by the COVID-19 pandemic unveiled a scaled-down programme of movies on Friday with an opening ceremony in an empty auditorium and a star-free red carpet. The Karlovy Vary International Film Festival, central a... More »

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Uffizi masterpieces show Black culture’s role in the Renaissance

ROME (Reuters) – Italy’s Uffizi gallery said on Thursday it was planning to pick out nine of its masterpieces for a project to highlight the part that Black people and culture played in the Renaissance. Under the “Black Presence” initiative, images of works in... More »

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EU banks to take on Visa, Mastercard with new payments system

LONDON/PARIS (Reuters) – Sixteen banks from Germany, France and three other euro zone countries on Thursday said a “truly European” payments system was expected to be up and running in 2022 to fully digitalise a region where half of all retail payments are sti... More »

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ECB lowers bar for bank mergers in hope of spurring consolidation

FRANKFURT (Reuters) – The European Central Bank is lowering the bar for bank mergers in the euro zone, hoping to encourage an elusive wave of consolidation in a sector plagued by low profits and unresolved issues inherited from the last financial crisis. In a ... More »

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Wirecard’s former boss faces criminal complaint in Austria

VIENNA (Reuters) – An Austrian lawyer has filed a criminal complaint against Wirecard’s (WDIG.DE) former Chief Executive Markus Braun and Chief Operating Officer Jan Marsalek at a court in Vienna, accusing them of market manipulation and serious fraud. The Vie... More »

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French group Sogeclair Aerospace eyeing up to 245 job cuts in France

TOULOUSE, France (Reuters) – French company Sogeclair Aerospace (SCLR.PA) said on Tuesday that it was eyeing up to 245 job cuts in France, as the country’s aerospace sector reels from the hits to business caused by the coronavirus crisis. A spokesman said the ... More »

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EasyJet says Haji-Ioannou family holding drops below 30%

LONDON (Reuters) – British low-cost airline easyJet (EZJ.L) said in a regulatory filing on Tuesday that the Haji-Ioannou family now hold under 30% of the company. Stelios Haji-Ioannou founded easyJet, and along with family members remains its biggest sharehold... More »

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More Britons take a bet on bitcoin

LONDON (Reuters) – The number of people in Britain buying cryptoassets like bitcoin BTC=BTSP and ether has more than doubled over the past year, but many are still unaware they have no protection against mis-selling, the Financial Conduct Authority said on Tue... More »

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Oil prices drop on prospect of returning Libyan supplies

LONDON (Reuters) – Oil prices slipped on Tuesday amid rising COVID-19 cases and a possible return of Libyan oil production, which has been down to a trickle since the start of the year. The more-active September contract for Brent LCOc2 fell 37 cents, or 0.88%... More »

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Grim data keeps euro, sterling under pressure

LONDON (Reuters) – A fresh batch of grim economic data kept the euro and the pound under pressure on Tuesday as sentiment faltered amid fears new COVID-19 hot spots across the world might jeopardise the swift recovery from the pandemic investors are hoping for... More »

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Britain locks down city of Leicester after COVID-19 flare-up

LEICESTER, England (Reuters) – Britain has imposed a stringent lockdown on the English city of Leicester following a local flare-up of the novel coronavirus, overshadowing Prime Minister Boris Johnson’s attempts to nudge the country back to normality. The Unit... More »

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European shares pick up, dollar gains before quarter-end

LONDON (Reuters) – European shares picked up on Tuesday after a weak start, extending the optimism of the Asian session, and oil prices steadied as investors looked for signs of an economic recovery in the second half of 2020. The MSCI world equity index, whic... More »

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Motor racing: Renault retain Sirotkin as F1 reserve

LONDON (Reuters) – Russian Sergey Sirotkin will be on standby in Austria this weekend after Renault announced on Tuesday they had retained him as their Formula One reserve driver. The role has come into the spotlight more as the sport finally starts its season... More »

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Coming soon to a 3D printer near you: Plant-based steaks

TEL AVIV/ZURICH (Reuters) – Israeli start-up Redefine Meat plans to launch 3D printers to produce plant-based steaks mimicking real beef next year in a bid for a slice of the fast-growing alternative meat market. Meat substitutes are increasingly popular with ... More »

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Cineworld delays U.S., UK cinema reopenings to end of July

LONDON (Reuters) – Cineworld (CINE.L) on Tuesday delayed the reopening of its cinemas in the United States and Britain until the end of July, citing changes to the release schedules for some of the big summer movies. The UK-based company had previously expecte... More »