Category: Reuters
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The softest of soft landings By Reuters
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A look at the day ahead in European and global markets from Wayne Cole. Markets started the week with a day of consolidation after their best week this year, amid expectations of a softer than expected U.S. economy — or no decline at all, with many analysts forecasting continued growth…
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Union at BHP’s Escondida copper mine in Chile signs new deal, ending risk of strike By Reuters
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SANTIAGO (Reuters) – The union of workers at Chile’s Escondida mine, the world’s largest, signed a deal on Sunday with BHP, ending a strike that could have threatened global supplies of the red metal. The three-year deal includes changes to working conditions such as “initiatives to improve shift changes, increase…
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CN Rail issues lockout notice to union, Canada-wide freight rail stoppage looms By Reuters
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Written by Promit Mukherjee OTTAWA (Reuters) – Canadian National Railway (TSX:), one of Canada’s two main rail companies, formally notified the Canadian Truck Drivers Union on Sunday that it will begin locking out workers at the union early on Thursday morning. “Unless an immediate and decisive solution to the labour…
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PBOC is expected to set the USD/CNY reference rate at 7.1548 – Reuters estimate
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The People’s Bank of China is scheduled to set the exchange rate of the US dollar against the Chinese yuan at around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as the renminbi or RMB).…
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Australia’s Westpac posts steady Q3 profit, helped by higher capital earnings By Reuters
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(Reuters) – Australia Westpac Banking New York Stock Exchange (NYSE:) Corp. said Monday that third-quarter net income was largely in line with a year ago, as higher gains on capital and protected deposits offset rising expenses and bad loans. Based on the company’s average quarterly performance in the first half…
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Diageo submits financial documents in Delhi police investigation, source says By Reuters
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Written by Aditya Kalra NEW DELHI (Reuters) – Spirits Group Diego The Indian unit of telecom company LON has provided financial documents sought by New Delhi’s anti-corruption police in a probe into billing and discounting practices involving city agencies, a person familiar with the matter said. Heena Nagarajan, CEO of…
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Scammers prey on young Chinese desperate for jobs in bleak economy By Reuters
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By Ethan Wang and Ryan Wu BEIJING (Reuters) – A Chinese mother has taken to television to demand justice for her 19-year-old mentally disabled son after con artists tricked the desperate job seeker into having breast enlargement surgery in an incident that sparked widespread outrage. The teenager, who was hoping…
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With Harris at helm, Democrats meet with new hope and some old worries By Reuters
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By Garrett Renshaw (Reuters) – The Democratic Party has changed dramatically in the five weeks since U.S. President Joe Biden abandoned his failed re-election bid, and this week the change will be all too clear. Vice President Kamala Harris, now the party’s nominee, heads to the Democratic National Convention riding…
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Russia launches third ballistic missile attack on Kyiv this month, Ukraine says By Reuters
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KIEV (Reuters) – Russia fired a third ballistic missile at Kiev in August on Sunday and initial data showed all the air weapons were destroyed as they approached the city, the Ukrainian capital’s military administration said. “This is the third ballistic strike on the capital in August, with an exact…
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Hurricane Ernesto knocks out power in Bermuda but major damage avoided By Reuters
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By Jasmine Patterson and Nicola Muirhead BERMUDA (Reuters) – Hurricane Ernesto knocked out power, uprooted trees and flooded parts of Bermuda on Saturday, but the British island appeared to have suffered no serious injuries or property damage, officials said after an initial assessment. The Category 1 storm brought strong winds…
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Hurricane Ernesto knocks out power in Bermuda but major damage avoided By Reuters
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By Jasmine Patterson and Nicola Muirhead BERMUDA (Reuters) – Hurricane Ernesto knocked out power, uprooted trees and flooded parts of Bermuda on Saturday, but the British island appeared to have suffered no serious injuries or property damage, officials said after an initial assessment. The Category 1 storm brought strong winds…
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Foxconn chief defends hiring practices after report married women rejected in India By Reuters
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Written by Praveen Paramasivam SRIPERUMBUDUR, India (Reuters) – Foxconn’s chairman defended its hiring practices on Saturday after New Delhi ordered an investigation following a Reuters report that the Apple supplier was rejecting married women from iPhone assembly jobs. “Foxconn hires regardless of gender, but women make up a large part…
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Porsche agrees to provide capital in Varta restructuring deal By Reuters
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By Alexander Hubner and Emma Victoria Farr FRANKFURT (Reuters) – German battery maker Varta said on Saturday it had reached a restructuring agreement with its creditors, calling on sports carmaker Porsche to step in to rescue the troubled company. The company said the deal, reached after days of intense negotiations,…
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China’s BYD plans car plant in Karachi as part of Pakistan entry By Reuters
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KARACHI (Reuters) – Chinese electric vehicle giant BYD on Saturday announced plans to open a car manufacturing plant in Pakistan where it will also start selling three models through a partnership with Mega Motors. BYD is the first major company to enter the new electric vehicle space in the Pakistani…
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China’s BYD plans car plant in Karachi as part of Pakistan entry By Reuters
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KARACHI (Reuters) – Chinese electric vehicle giant BYD on Saturday announced plans to open a car manufacturing plant in Pakistan where it will also start selling three models through a partnership with Mega Motors. BYD is the first major company to enter the new electric vehicle space in the Pakistani…
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X says it is closing Brazilian operations ‘effective immediately’ By Reuters
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SAO PAULO (Reuters) – Media platform X said on Saturday it would shut down its operations in Brazil “with immediate effect” due to what it called “censorship orders” issued by Brazilian judge Alexandre de Moraes. X alleges that Moraes secretly threatened one of its legal representatives in the South American…
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Brazilian media mogul Silvio Santos dead at 93, SBT TV says By Reuters
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SAO PAULO (Reuters) – Brazilian media mogul Silvio Santos, who went from street vendor to owner of a business empire that includes one of the country’s biggest television channels, has died at the age of 93, Brazilian broadcaster SPT said on Saturday. “Today the sky is happy with the arrival…
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Next Bank of Japan intervention may be to sell yen :Mike Dolan By Reuters
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By Mike Dolan LONDON (Reuters) – If the Japanese government is thinking ahead, it may be planning to rein in the volatile yen rather than support it. A two-year cat-and-mouse game between speculators and Japanese authorities — which involved increasing bets against the yen because of widening interest-rate gaps with…
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US judge delays launch of sports streaming venture from Disney, media giants By Reuters
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By Don Chmielewski and Jack Quinn (Reuters) – A U.S. judge on Friday temporarily blocked the launch of a new sports streaming service backed by three media giants, Walt Disney Co and Amazon. Disney (NYSE:), Fox, and Warner Bros. Discovery (NASDAQ:), which aim to attract younger sports fans who don’t…