Category: Reuters
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Hurricane Beryl aims at Mexico tourist hotspots after soaking Jamaica, Caymans By Reuters
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By Jose Cortes and Paola Chiomanti TULUM/CANCUN, Mexico (Reuters) – Hurricane Beryl battered major tourist resorts in Mexico on Thursday evening after passing through the Cayman Islands and hitting Jamaica with winds that destroyed buildings and uprooted trees. Hurricane Beryl, now a Category 2 storm, has left a trail of…
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Samsung flags better-than-expected profit rise as AI boom lifts chip prices By Reuters
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By Joyce Lee and Heekyung Yang SEOUL (Reuters) – Samsung Electronics Co Ltd on Friday forecast a more than 15-fold jump in second-quarter operating profit, as a rebound in semiconductor prices driven by the artificial intelligence boom lifted earnings from a low a year ago. The world’s largest maker of…
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Saks owner to buy luxury retailer Neiman Marcus in $2.65-billion deal By Reuters
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(Reuters) – Saks Fifth Avenue parent HPC Inc said on Monday it will acquire department store chain Neiman Marcus Inc in a $2.65 billion deal, giving it stronger negotiating power with vendors and greater control over costs. The deal comes as luxury retailers face slowing demand as higher interest rates…
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Analysis-UK election brings few hopes or fears to cautious City of London By Reuters
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By Sinead Cruz and Hugh Jones LONDON (Reuters) – Britain’s financial sector has begun to embrace Labour’s pro-business initiatives and pledges of stability and support, but many in the City of London remain wary that it could be targeted to shore up Britain’s strained public finances in the future. Under…
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China’s BYD opens EV factory in Thailand, first in Southeast Asia By Reuters
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Written by Chaiyut Sittbonsarng RAYONG, Thailand (Reuters) – China’s BYD opened an electric vehicle factory in Thailand on Thursday, the company’s first in Southeast Asia, a fast-growing regional market for electric vehicles where it has become the dominant player. “Thailand has a clear vision for electric vehicles and is entering…
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China-built EVs hit with duties in biggest EU trade case yet By Reuters
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By Philip Blenkinsop and Charlotte Van Campenhout BRUSSELS (Reuters) – The European Union will impose tariffs of up to 37.6 percent on imports of Chinese-made electric cars from Friday, EU officials said, raising tensions with Beijing in Brussels’ biggest trade issue yet. But there is a four-month window during which…
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Lufthansa to consider raising stake in ITA to 90%, CEO says By Reuters
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ROME (Reuters) – German airline Lufthansa will consider increasing its stake in Italian airline ITA to 90 percent from early next year, its chief executive said in an interview published on Thursday. Carsten Spohr was speaking after his company received EU antitrust approval to buy 41% of state-owned ITA for…
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Taiwan says China seizure of trawler may be act of psychological warfare By Reuters
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TAIPEI (Reuters) – China’s seizure of a Taiwanese fishing vessel operating near the Chinese coast on charges of illegal fishing may be an act of psychological warfare by Beijing aimed at increasing pressure on Taipei, a senior Taiwanese security official said on Thursday. Chinese officials boarded the boat and returned…
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Taiwan says China seizure of trawler may be act of psychological warfare By Reuters
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TAIPEI (Reuters) – China’s seizure of a Taiwanese fishing vessel operating near the Chinese coast on charges of illegal fishing may be an act of psychological warfare by Beijing aimed at increasing pressure on Taipei, a senior Taiwanese security official said on Thursday. Chinese officials boarded the boat and returned…
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PBOC is expected to set the USD/CNY reference rate at 7.2656 – 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, the central bank of China, is responsible for setting the daily midpoint of the yuan (also known as the renminbi or…
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Saks owner to buy Neiman Marcus, source says By Reuters
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Written by Ananya Mariam Rajesh and Greg Roumeliotis (Reuters) – The parent company of Saks Fifth Avenue has agreed to buy rival Neiman Marcus, a source familiar with the matter told Reuters on Wednesday, in a move expected to give the struggling luxury retailer more power to negotiate with sellers.…
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Rupee to trade in narrowest range in about 30 years on RBI’s actions: Reuters poll By Reuters
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Written by Anant Chandak BENGALURU (Reuters) – The Indian rupee will trade in its narrowest range in nearly three decades next year as the Reserve Bank of India continues to maintain a tight grip on currency movements, a Reuters poll showed. While most emerging market currencies have underperformed against the…
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Hapag-Lloyd CEO sees solid shipping demand driving up freight rates By Reuters
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FRANKFURT (Reuters) – Strong demand for container shipping has pushed freight rates higher in the past two months, Hapag-Lloyd Chief Executive Rolf Habben Jansen said on a call with reporters on Wednesday. He said attacks on ships by Yemen-based Houthi militants had prompted shipping companies to avoid the Red Sea,…
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EU governments hesitant on Chinese EV tariffs as trade spat escalates By Reuters
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By Philip Blenkinsop and Nick Carey BRUSSELS/LONDON (Reuters) – European Union countries are dithering over whether to back additional tariffs on Chinese-made electric cars, highlighting the challenge Brussels faces in rallying support for its biggest trade case yet as Beijing threatens broad retaliation. Germany, whose automakers made a third of…
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Euro expected to hold ground despite political tremors: Reuters poll By Reuters
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Written by Saroopia Ganguly BANGALORE (Reuters) – The euro is expected to weaken modestly against the U.S. dollar this month before rallying by the end of the year, currency strategists polled by Reuters said, even though financial markets expect two more interest rate cuts by the European Central Bank by…
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AI deals lift US venture capital funding to highest level in two years, data shows By Reuters
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By Crystal Ho (Reuters) – U.S. venture capital funding jumped to $55.6 billion in the second quarter, the highest quarterly total in two years, according to data from PitchBook released on Wednesday. The latest figure represents a 47% jump from the $37.8 billion raised by U.S. startups in the first…
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Taiwan says China seizes fishing boat near Chinese coast By Reuters
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By Ben Blanchard and Yimo Lee TAIPEI (Reuters) – Chinese officials boarded a Taiwanese fishing boat operating close to China’s coast near a Taiwan-controlled island late on Tuesday, then seized it and took it to a Chinese port, Taiwan’s coast guard said, in a further escalation of tensions. China views…
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Japan’s first new banknotes in 20 years use holograms to defeat counterfeits By Reuters
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By Irene Wang and Kantaro Komiya TOKYO (Reuters) – Japan on Wednesday put into circulation its first new banknotes in 20 years, featuring holograms of founders of women’s financial and educational institutions in a bid to thwart counterfeiters. The banknotes use printed patterns to create 3D images of people facing…
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Skydance reaches new deal to buy controlling Paramount stake, sources say By Reuters
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By Don Chmielewski LOS ANGELES (Reuters) – Shari Redstone’s National Amusements has reached a preliminary agreement to sell a controlling stake in Paramount Global to David Ellison’s Skydance Media, three people familiar with the matter told Reuters on Tuesday. The unexpected development comes just weeks after Redstone abruptly ended talks…