The pound staged its biggest rally in almost three years and shares surged after Boris Johnson’s Conservative party secured a decisive victory in the general election. Sterling jumped more than 3 cents against the US dollar to $1.35, marking its highest level since May 2018 and its biggest rise since 2017. The gains were later trimmed to 2.5 cents, at […]
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Germany’s industrial production declined at the fastest pace in six months in October, led by a sharp decrease in capital goods output in October, data from Destatis revealed on Friday. Industrial production decreased 1.7 percent on a monthly basis in October, much bigger than the 0.6 percent fall logged in September. Output decreased at the fastest pace in six months, […]
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LONDON/SYDNEY (Reuters) – Shares already trading at record highs piled on the gains and the pound soared on Friday as a last-gasp Sino-U.S. trade deal and a thumping election win by Britain’s Conservative Party cleared two of the darkest clouds on the global investment horizon. The double dose of relief knocked safe-haven sovereign bonds and the Japanese yen, and led […]
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December is usually a time for looking back on the past year and forward to the year ahead. In 2019 we have witnessed rising political extremism (on both the left and right) and polarisation, increased government instability and growing tensions between central and subnational governments. Each trend will continue in 2020. Almost everywhere one looks, there is a growing gap […]
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Takata Corp., which had recalled millions of faulty airbags earlier, issued a fresh recall involving around 1.4 million vehicles, according to the National Highway Traffic Safety Administration or NHTSA. The recall, which is expected to begin on January 24, 2020, reportedly will include vehicles from BMW, Toyota Motor., Honda Motor, and Mitsubishi Motors. The U.S. agency said, “As this work […]
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The good news is that more diabetes drugs are set to go off patent in the next two to four years, bringing relief to India’s 73-million diabetics. A chronic patient stands to save around 80 per cent of his monthly cost on these medicines if he switches to home-grown brands. Illustration: Uttam Ghosh/Rediff.com Indian cardio-diabetic patients are in for a […]
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SINGAPORE (BLOOMBERG, THE BUSINESS TIMES) – Bangkok Bank snapped up a controlling stake in Indonesia’s PT Bank Permata for about US$2.7 billion (SUS$3.65 billion) in the first major purchase of an overseas lender by a Thai bank. The purchase of a near 90 per cent holding from Standard Chartered and a local partner fits with Bangkok Bank’s strategy of transforming […]
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(Reuters) – A U.S. labor board on Thursday approved McDonald’s Corp’s (MCD.N) proposed settlement of a major case, allowing the fast-food company to avoid a ruling on whether it is a “joint employer” at its franchises and could be made to bargain with unions. The National Labor Relations Board said the settlement, which will bring an end to a sprawling […]
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Broadcom Inc. (NASDAQ: AVGO) reported fourth fiscal quarter 2019 results after markets closed on Thursday. The chipmaker posted adjusted diluted earnings per share (EPS) of $5.39 and net revenues of $5.78 billion. In the fourth quarter of 2018, Qualcomm reported EPS of $5.85 on revenues of $5.44 billion. The consensus analysts’ estimates called for EPS of $5.35 and $5.73 billion […]
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