Category: Reuters
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Mars to boost snack portfolio in mega $36 billion deal for Pringles maker Kellanova By Reuters
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Written by Anirban Sen and Savita Mishra (Reuters) – Family-owned candy giant Mars Inc is buying Cheez-It maker Kellanova in a deal worth about $36 billion, combining consumer food brands from M&M’s and Snickers to Pringles and Pop-Tarts in one of the industry’s biggest deals. Mars Inc. said on Wednesday…
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Mercedes-Benz chief in South Korea to meet residents after EV fire damaged property By Reuters
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SEOUL (Reuters) – The head of Mercedes-Benz in South Korea on Wednesday met residents of an apartment complex damaged by a fire that started in one of its electric cars and raged for more than eight hours, raising concerns about public safety. Mercedes-Benz Korea CEO Matthias Veitel will hold a…
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Dollar sags after benign US inflation data; kiwi skids on rate cut By Reuters
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By Kevin Buckland TOKYO (Reuters) – The dollar remained lower on Wednesday after falling against its major peers overnight as a strong U.S. producer price reading bolstered bets the Federal Reserve will cut interest rates this year. The New Zealand dollar fell sharply from a four-week high after the Reserve…
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Australia’s CBA beats annual profit forecast, extends shares rally By Reuters
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Written by Sameer Manikkar (Reuters) – Commonwealth Bank of Australia, the country’s largest lender, reported a smaller-than-expected fall in annual cash profit on Wednesday and announced its highest ever dividend, despite falling margins and rising mortgage overdue payments. Cash profits were A$9.84 billion (US$6.52 billion) for the year to June…
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Thyssenkrupp swings to quarterly net loss as one-offs bite By Reuters
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By Christoph Steitz FRANKFURT (Reuters) – Thyssenkrupp swung to a net loss in the third quarter on higher-than-expected costs for legacy projects in its plant engineering business, the company said on Wednesday, adding that it had also halted the sale of one of its units. The company said it posted…
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Australian regulator sues ASX over alleged false statements on CHESS platform progress By Reuters
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Australia’s corporate regulator said on Wednesday it is suing the country’s stock exchange operator ASX Ltd for making “misleading” statements about the timetable for replacing its Clearing House Electronic Subregister System (CHESS) trading platform. The Australian Securities and Investments Commission (ASIC) has alleged that ASX statements claiming that the CHESS…
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Biden targets tumors with $150 million funding for ‘Cancer Moonshot’ program By Reuters
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By Andrea Shalal and Garrett Renshaw NEW ORLEANS (Reuters) – U.S. President Joe Biden on Tuesday announced he would allocate $150 million in new federal funding to develop technology to better help surgeons successfully remove cancerous tumors. The award, which Biden promoted during a visit to New Orleans, is the…
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Biden targets tumors with $150 million funding for ‘Cancer Moonshot’ program By Reuters
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By Andrea Shalal and Garrett Renshaw NEW ORLEANS (Reuters) – U.S. President Joe Biden on Tuesday announced he would allocate $150 million in new federal funding to develop technology to better help surgeons successfully remove cancerous tumors. The award, which Biden promoted during a visit to New Orleans, is the…
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B. Riley stock extends losses after bank delays quarterly report By Reuters
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Written by Manya Saini, Nikit Nishant and Saeed Azhar (Reuters) – Shares of investment bank B. Riley Financial fell to their lowest level in nearly eight years on Tuesday after the company delayed filing its quarterly report with the Securities and Exchange Commission, adding to concerns about a second-quarter loss.…
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Russian rouble touches 10-month low vs dollar following Kursk attack By Reuters
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MOSCOW (Reuters) – The Russian rouble fell to a 10-month low against the dollar during trading on Tuesday following an unexpected Ukrainian attack a week ago on Russia’s Kursk region but then rebounded to the day’s opening level. By 1500 GMT, the rouble was steady at 90.99 against the dollar,…
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Stocks rise, bond yields drop on soft US PPI data By Reuters
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By Koh Jui Ching and Lawrence White NEW YORK/LONDON (Reuters) – Stocks jumped and bond yields fell on Tuesday after data showed U.S. producer prices rose less than expected in July, reinforcing market expectations that slowing inflation will allow the Federal Reserve to cut interest rates soon. The U.S. Labor…
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Explainer-What is the Chinese yuan carry trade and how is it different from the yen’s? By Reuters
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Written by Winnie Zhou and Summer Chen SHANGHAI/HONG KONG (Reuters) – A sell-off in global markets triggered by the unwinding of yen-funded carry trades has put the spotlight on China’s yuan, also widely used as a cheap funding currency. Although August saw the yuan rise sharply by 2% against the…
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Australia’s Challenger climbs to 1-1/2-year high on bright outlook, annual earnings beat By Reuters
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By Rajasik Mukherjee (Reuters) – Challenger Ltd shares rose to their highest in about 16 months on Tuesday after the Australian investment manager beat estimates on annual profit, while investors also welcomed its earnings outlook for fiscal 2025. The stock rose about 10% to its highest level since Feb. 20,…
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Dollar tenses for data verdict on rate cut risks By Reuters
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By Wayne Cole SYDNEY (Reuters) – The dollar remained in a state of uncertainty on Tuesday as investors waited to see how U.S. economic data would affect the prospects for an overly aggressive interest rate cut, while a rise in Japanese shares helped stem the bleeding in yen carry trades.…
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X hit with Austrian data use complaint over AI training By Reuters
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VIENNA (Reuters) – Austrian civil rights group NOYB on Monday filed a complaint against social media platform X, accusing the Elon Musk-owned company of training its artificial intelligence using users’ personal data without their consent in violation of European Union privacy law. The group led by privacy activist Max Schrems…
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Synopsys’ $35 billion Ansys deal under UK regulator scrutiny By Reuters
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The UK’s competition watchdog said on Monday it was examining whether Synopsys (NASDAQ: )’s $35 billion takeover of ANSYS (NASDAQ: ) chip design software maker would affect competition in Britain. The Competition and Markets Authority has not yet launched a formal investigation into the deal. Context In January, Synopsys, a…
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Exclusive-Billions in dollar and euro notes reach Russia despite sanctions By Reuters
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By Gleb Stolyarov, Philip Lebedev and Alexander Marrow LONDON (Reuters) – About $2.3 billion in dollar and euro banknotes have been shipped to Russia since the United States and European Union banned exports of their banknotes there in March 2022 after the invasion of Ukraine, according to customs data seen…
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Yen slips, markets brace for US inflation data By Reuters
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By Vidya Ranganathan SINGAPORE (Reuters) – The yen continued its slow decline against the dollar in thin trade due to a holiday in Japan on Monday, as market participants remained uncertain about the prospects of a significant interest rate cut by the U.S. Federal Reserve next month. The break comes…
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China test-flies biggest cargo drone as low-altitude economy takes off By Reuters
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Written by Ryan Wu BEIJING (Reuters) – China has launched the largest cargo drone yet designed for civilian use, as the world’s biggest drone maker ramps up test flights of autonomous aerial vehicles that could eventually carry everything from takeaway meals to people. The two-tonne, twin-engine aircraft took off on…
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People flee wildfire near Athens as it spreads ‘like lightning’ By Reuters
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Written by Angelos Tsatsis and Carolina Tagaris VARNAVAS, Greece/ATHENS (Reuters) – Residents fled their homes on Sunday as a fast-spreading wildfire outside Athens was ignited by hot, windy weather, burning trees, homes and cars and sending plumes of smoke over the Greek capital. More than 400 firefighters, backed by 16…