Category: Reuters
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US dollar’s dominance secure, BRICS see no progress on de-dollarization -report By Reuters
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Written by Andrea Shalal WASHINGTON (Reuters) – A new study by the Atlantic Council’s Center for Geo-Economics showed that the US dollar is still the world’s main reserve currency, and neither the euro nor the so-called BRICS countries have been able to reduce global dependence on the dollar. The group’s…
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US dollar’s dominance secure, BRICS see no progress on de-dollarization -report By Reuters
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Written by Andrea Shalal WASHINGTON (Reuters) – A new study by the Atlantic Council’s Center for Geo-Economics showed that the US dollar is still the world’s main reserve currency, and neither the euro nor the so-called BRICS countries have been able to reduce global dependence on the dollar. The group’s…
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S.Korea battery maker apologises for deadly fire but says it complied with safety rules By Reuters
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Written by Hyunsoo Yim, Dojeon Kim, and Daewong Kim HWASEONG, South Korea (Reuters) – The CEO of a South Korean lithium battery maker apologized on Tuesday after a massive factory fire killed 23 workers, but said the company had adhered to all required safety precautions and training. The fire, which…
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India digital currency transactions slump after reaching initial central bank target, sources say By Reuters
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Written by Jaspreet Kalra MUMBAI (Reuters) – Use of India’s digital currency, the e-rupee, has fallen to a tenth of its December peak, four sources said, reflecting the difficulties many countries have faced trying to rally public support for digital currencies. The Reserve Bank of India began a pilot of…
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US says seven airlines eligible to apply for new daily Washington flights By Reuters
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Written by David Shepardson WASHINGTON (Reuters) – Seven major airlines are eligible to apply for five new daily round-trip flights from Washington’s Reagan National Airport, the U.S. Department of Transportation said on Monday. On May 16, President Joe Biden signed legislation creating new flights at the busy airport in Arlington,…
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Analysis-China’s retail outlook dims after mid-year shopping festival flop By Reuters
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By Casey Hall SHANGHAI (Reuters) – China’s retailers face a difficult near-term future after a disappointing mid-year online shopping festival that cast a shadow over the recovery prospects of the world’s second-largest economy. E-commerce sales fell for the first time during the so-called 618 Festival that ended last week, reports…
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Rite Aid defeats MedImpact in $200 million Elixir sale dispute By Reuters
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Written by Dietrich Knuth NEW YORK (Reuters) – MedImpact’s attempt to recover about $200 million in connection with its purchase of Rite Aid’s (NYSE:) pharmacy benefits unit failed after a judge ruled on Monday that it assumed Elixir’s debt when it bought the company. U.S. Bankruptcy Judge Michael Kaplan, at…
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Japan warns against rapid FX moves, reiterates readiness for action By Reuters
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Written by Makiko Yamazaki and Yoshifumi Takemoto TOKYO (Reuters) – Japan is always ready to take action against excessive market moves, Tokyo’s chief currency diplomat Masato Kanda said on Monday, as the yen fell to nearly 160 yen to the dollar, sparking market caution about the possibility of new intervention.…
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US Supreme Court takes up ‘Dewberry’ trademark dispute By Reuters
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Written by Blake Brittain WASHINGTON (Reuters) – The U.S. Supreme Court on Monday agreed to decide a $43 million dispute between two real estate companies – one in Virginia and one in Georgia – over the rights to the “Dewberry” name in a case exploring when the court can award…
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Dollar slips; yen briefly jumps as intervention worries linger By Reuters
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By Samuel Indyk and Ankur Banerjee LONDON (Reuters) – The dollar fell slightly on Monday but remained close to the highest level in about eight weeks, while the yen jumped briefly as it approached the 160 level that had earlier sparked verbal warnings from Japanese authorities. The yen fell to…
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South African rand weakens, focus on cabinet announcement By Reuters
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JOHANNESBURG (Reuters) – The South African rand fell in early trade on Monday, as markets awaited the announcement of President Cyril Ramaphosa’s government after the African National Congress lost its parliamentary majority in last month’s elections, the first time in 30 years. At 0556 GMT, the rand was trading at…
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Asia shares subdued as inflation, politics loom large By Reuters
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By Wayne Cole SYDNEY (Reuters) – Asian shares fell on Monday as the countdown to U.S. price data investors hope will show a renewed moderation in inflation, while markets were on alert for possible Japanese intervention with the dollar testing the 160 yen barrier. Geopolitics was also looming, with the…
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Exclusive-US prosecutors recommend DOJ criminally charge Boeing as deadline looms By Reuters
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Written by Chris Prentice, Mike Spector, and Allison Lambert WASHINGTON (Reuters) – U.S. prosecutors have recommended top Justice Department officials file criminal charges against Boeing Co (NYSE:) after it emerged that the planemaker violated a settlement related to two fatal accidents, two people familiar with the matter told Reuters. The…
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Novo’s Wegovy induces higher weight loss in women than men with same heart condition, study shows By Reuters
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Written by Jakob Gronholt Pedersen and Bhanvi Satya COPENHAGEN (Reuters) – An analysis of data from a study published in a medical journal showed that Novo Nordisk Inc’s (NYSE) popular obesity drug WiGovi helped women with common heart diseases lose more weight than men with the same condition. The trials…
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Prudential plans $2 billion share buyback By Reuters
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(Reuters) – Insurance group Prudential said in a statement on Sunday that it is planning a $2 billion share buyback program that will be completed no later than mid-2026. The life and health insurance company said in a separate statement that it will initiate the first $700 million tranche of…
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Nvidia to launch in Middle East amid U.S. curbs on AI exports to region, Ooredoo CEO says By Reuters
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Written by Andrew Mills DOHA (Reuters) – Nvidia (NASDAQ:) has signed an agreement to deploy its artificial intelligence technology in data centers owned by Qatari telecommunications group Ooredoo in five countries in the Middle East, Ooredoo’s CEO told Reuters. The agreement represents Nvidia’s first large-scale launch in the region, to…