Category: Reuters
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China stocks soar to 2-year peaks on stimulus hopes By Reuters
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(Reuters) – Chinese stocks rose to their highest levels in two years on Tuesday as mainland markets reopened after a week-long holiday amid a wave of speculation of more stimulus from Beijing. The CSI300 index rose 10% in early trading to its highest levels since mid-2022 and rose 9.7% and…
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China markets reopen with a roar after week-long break By Reuters
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SHANGHAI (Reuters) – Chinese stocks rose to their highest levels in two years on Tuesday, continuing their strong rise as trade resumed after a week-long holiday and investors bet on stimulus to support the economy. The blue-chip CSI300 index rose 10% in early trading to its highest levels since mid-2022…
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FTX cleared to repay billions to customers after bankruptcy plan approval By Reuters
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Written by Dietrich Knuth NEW YORK (Reuters) – FTX received court approval for its bankruptcy plan on Monday, which will allow it to repay customers in full using up to $16.5 billion in assets recovered since the collapse of the once-leading cryptocurrency exchange. U.S. Bankruptcy Judge John Dorsey approved the…
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Japan’s top FX diplomat warns against speculative moves as yen falls By Reuters
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Written by Makiko Yamazaki and Takaya Yamaguchi TOKYO (Reuters) – Japan’s top currency diplomat on Monday issued a warning against speculative moves in the foreign exchange market as the yen fell below 149 yen to the dollar. “We will monitor currency market movements, including speculative trading, with a sense of…
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US judge orders Google to open up app store to competition By Reuters
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By Mike Scarcella (Reuters) – A U.S. judge on Monday ordered Alphabet Inc’s (NASDAQ:) subsidiary Google to overhaul its mobile app business to give Android users more options to download apps and pay for transactions within them, following a jury ruling last year in the game “Fortnite.” “Maker of epic…
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Britain’s FTSE 100 rises as oil price jump boosts energy shares By Reuters
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Written by Shubham Batra and Khushi Singh (Reuters) – The British index rose on Monday, supported by gains in energy stocks and a weak labor market report, although losses at precious metals miners capped gains. The FTSE 100 blue-chip index rose 0.3%, while the mid-cap index fell 0.2%. Oil and…
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Britain’s FTSE 100 rises as oil price jump boosts energy shares By Reuters
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Written by Shubham Batra and Khushi Singh (Reuters) – The British index rose on Monday, supported by gains in energy stocks and a weak labor market report, although losses at precious metals miners capped gains. The FTSE 100 blue-chip index rose 0.3%, while the mid-cap index fell 0.2%. Oil and…
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Dollar close to 7-week high after strongest week since 2022 By Reuters
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Written by Stefano Ribaudo (Reuters) – The US dollar fell slightly from its highest level in seven weeks on Monday after a rally sparked by strong US jobs data released on Friday and escalating conflict in the Middle East. The dollar’s gains came on the heels of a US jobs…
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India asks banks to stop making large bets against rupee, sources say By Reuters
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Written by Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) – India’s central bank has asked government and private lenders to refrain from betting heavily against the rupee in a bid to support the currency that has been hovering near record lows over the past three trading sessions, four sources said.…
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Activist investor Starboard Value takes $1 billion stake in Pfizer, sources say By Reuters
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(Reuters) – Activist investor Starboard Value has taken a stake worth about $1 billion Pfizer (NYSE:) wants the US pharmaceutical giant to make changes to turn around its performance, sources familiar with the matter said on Sunday. Starboard also reached out to Ian Read, former CEO of Pfizer, and Frank…
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Samsung’s profit recovery seen weakening in Q3 By Reuters
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By Hyunjoo Jin SEOUL (Reuters) – Samsung Electronics Co is expected to report a more than four-fold jump in quarterly profit on Tuesday thanks to improved demand for chips, but the pace of its recovery is weakening as it is slow to capitalize on the chips. Artificial intelligence boom. Operating…
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ECB will probably cut rates in Oct on risk of too low inflation: Villeroy By Reuters
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FRANKFURT (Reuters) – The European Central Bank will likely cut interest rates on October 17 as economic growth weakens and that raises the risk that inflation will fall below its 2% target, French central bank President Francois Villeroy de Galhau told an Italian newspaper. The European Central Bank has cut…
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Brazil votes in local elections with eyes on 2026 presidential showdown By Reuters
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Written by Eduardo Simões and Anthony Bodell SAO PAULO (Reuters) – Brazilians cast ballots on Sunday for mayors and city council members in more than 5,500 municipal elections, with opinion polls showing conservative candidates with a strong lead in many major cities, setting up the country’s political landscape ahead of…
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Analysis-Year of war creates cracks in Israel’s borrowing strength By Reuters
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Written by Libby George, Karen Strohecker and Stephen Shear LONDON/JERUSALEM (Reuters) – For nearly a year, the Israeli economy has weathered the chaos of a war that threatens to turn into a regional conflict, but rising borrowing costs have begun to put pressure on its financial structure. The direct cost…
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Chinese hackers breached US court wiretap systems, WSJ reports By Reuters
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(Reuters) – Chinese hackers gained access to the networks of broadband providers in the United States and obtained information from systems used by the federal government for court-authorized wiretapping, the Wall Street Journal reported on Saturday. Verizon Communications (NYSE:), AT&T (NYSE:), and Lumen Technologies are among the telecommunications companies whose…
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Dozens killed in Gaza as army launches new incursion in north By Reuters
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Written by Nidal Al-Maghribi CAIRO (Reuters) – At least 24 people were killed and 93 others wounded when Israeli air strikes bombed a mosque and a school housing displaced people in the Gaza Strip early on Sunday, the media office of the Palestinian government in the Gaza Strip, which is…
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Dozens killed in Gaza as army launches new incursion in north By Reuters
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Written by Nidal Al-Maghribi CAIRO (Reuters) – At least 24 people were killed and 93 others wounded when Israeli air strikes bombed a mosque and a school housing displaced people in the Gaza Strip early on Sunday, the media office of the Palestinian government in the Gaza Strip, which is…
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UK investment summit to feature Google, Wayve and Brookfield By Reuters
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LONDON (Reuters) – The new British government’s first international investment summit will include senior executives from companies including Google, Wave and Brookfield Asset Management (TSX:), the British government said on Saturday. The summit, which will be held on October 14, aims to increase foreign direct investment to help improve economic…
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Chinese automakers should be allowed to avert tariffs by investing in EU By Reuters
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FRANKFURT (Reuters) – The European Union should consider adjusting planned tariffs against electric cars made in China to provide allocations for investments in Europe, the CEO of German car maker Volkswagen (ETR) said. “Instead of punitive tariffs, it should be about giving reciprocal credit for investments,” Volkswagen CEO Oliver Blume…