Australian shares set to edge higher; NZ flat

March 1 () – Australian shares are set to edge higher on Friday, with mining stocks expected to gain on higher commodity prices, while uncertainty over a possible U.S.-China trade deal weighs on investor sentiment. The local share price index futures rose 0.1 percent, a 14-point discount to the underlying S&P/ASX 200 index close. The […]

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Dell revenue rises 9 pct in first report as public company

FILE PHOTO: A Dell logo is seen in this illustration picture taken in Sarajevo, Bosnia and Herzegovina, October 12, 2015. /Dado Ruvic() – Dell Technologies Inc reported on Thursday a nearly 9 percent rise in quarterly revenue in its first earnings report since a return to public markets, lifted by demand for its servers and […]

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BNP Paribas Fortis to cut between 800 and 1,000 jobs – Les Echos

PARIS () – BNP Paribas’ Belgian subsidiary is about to cut between 800 and 1,000 jobs following talks with unions, French newspaper Les Echos reported on its website on Thursday. The French bank’s subsidiary, BNP Paribas Fortis, employs about 13,000 people and is Belgium’s number one lender. Spokespeople at BNP Paribas were not immediately available […]

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Risk-on week as investors put money to work in equity ETFs, junk bonds: Lipper

FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 27, 2019. /Brendan McDermid() – Investors poured money into equity exchange-traded funds and high-yield “junk” bond funds in the week ended Wednesday, as President Donald Trump said he would extend a deadline to escalate tariffs on […]

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UPDATE 2-Fed’s Kaplan says it will take time to see how much U.S. economy is slowing

SAN ANTONIO, Texas () – The U.S. economy is slowing and it could take a few months to figure out by how much, supporting the Federal Reserve’s rate-hike holiday at least through June, Dallas Federal Reserve Bank President Robert Kaplan said on Thursday. FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks with an […]

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UPDATE 4-Trump’s ex-lawyer Cohen testifies again, this time behind closed doors

WASHINGTON () – President Donald Trump’s former lawyer Michael Cohen returned to Capitol Hill on Thursday to speak behind closed doors with a congressional panel investigating Russia’s interference in the 2016 U.S. election, capping a week of testimony in which he leveled new allegations of wrongdoing at his former boss. Cohen did not respond to […]

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Google workers support proposed U.S. laws to curb mandatory arbitration

SAN FRANCISCO () – Six Google employees on Thursday joined U.S. lawmakers to support bills that would ban mandatory arbitration in employment and consumer contracts, as the workers seek to build on recent success in getting the Alphabet Inc company to drop some arbitration provisions. FILE PHOTO: The Google logo is pictured at the entrance […]

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UPDATE 2-U.S. Embassy seeks meeting with Swedish watchdog on Swedbank

STOCKHOLM () – The U.S. embassy in Sweden has asked the country’s financial watchdog FI for a meeting to discuss allegations about Swedbank’s involvement in a Baltic money-laundering scandal. FILE PHOTO: A woman walks past a Swedbank branch in Riga October 21, 2014. /Ints Kalnins/File PhotoThe move raises questions whether the U.S. authorities will seek […]

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UPDATE 3-Trump’s ex-lawyer Cohen testifies again, this time behind closed doors

WASHINGTON () – President Donald Trump’s former lawyer Michael Cohen returned to Capitol Hill on Thursday to speak behind closed doors with a congressional panel investigating Russia’s interference in the 2016 U.S. election, capping a week of testimony in which he leveled new allegations of wrongdoing at his former boss. Cohen did not respond to […]

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UPDATE 2-Uber, Lyft to offer some drivers shares in stock market listing

() – Uber Technologies Inc and Lyft plan to offer cash bonuses to some of their most active drivers with the option to purchase shares in the ride-hailing firms’ highly anticipated Wall Street debuts, a bold effort to improve driver relations as the companies transition to the public markets. FILE PHOTO: Uber’s logo is displayed […]

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UPDATE 1-Mozambique files case against Credit Suisse in London’s High Court

JOHANNESBURG/MAPUTO () – Mozambique has filed a case in London’s High Court against Credit Suisse, according to court records and a source in Mozambique’s Attorney General Office. FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at a branch in Winterthur, Switzerland November 2, 2017. /Arnd WiegmannThe global investment bank, three of its […]

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Canada’s OMERS eyes Brussels Airport stake as bid deadline looms – sources

LONDON/FRANKFURT () – Canada’s pension fund, Ontario Municipal Employees Retirement System (OMERS), has emerged as a strong contender for a 36 percent stake in Brussels Airport ahead of final bids due in mid-March, two banking sources said. OMERS, the former owner of London City Airport, will compete with a consortium formed by Dutch pension fund […]

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UPDATE 1-U.S. embassy in Sweden asks financial watchdog for meeting on Swedbank

FILE PHOTO: A woman walks past a Swedbank branch in Riga October 21, 2014. /Ints Kalnins/File PhotoSTOCKHOLM () – The U.S. embassy in Sweden has asked the domestic watchdog FI for a meeting to discuss allegations of Swedbank’s involvement in a Baltic money-laundering scandal, raising concerns that U.S. authorities might be mulling a probe of […]

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UPDATE 1-Finance firms given 15-month regulatory grace period if no-deal Brexit

LONDON () – British regulators will give banks, asset managers, insurers and brokers until mid-2020 to fully comply with rules that replace European Union law in the event of a no-deal Brexit. FILE PHOTO: Rain clouds pass over Canary Wharf financial financial district in London, Britain July 1, 2016. /Reinhard Krause/File PhotoThe Bank of England […]

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UPDATE 1-Jet Airways founder Naresh Goyal agrees to step down as chairman – sources

(Adds details from sources) By Aftab Ahmed and Stanley Carvalho NEW DELHI, Feb 28 () – Jet Airways’ founder Naresh Goyal has agreed to step down as chairman of the airline’s board, two sources with direct knowledge of the matter told on Thursday, as the cash-strapped Indian carrier inches closer to securing a rescue deal. […]

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Big U.S. pension funds ask electric utilities for decarbonization plans

BOSTON () – Top U.S. pension funds are asking electric utilities to accelerate efforts to cut carbon emissions but will not force the issue with proxy resolutions this spring, hoping market shifts and falling prices for renewable energy have already made executives and directors receptive to the goal. FILE PHOTO: Wind turbines generate power at […]

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European watchdog finds draining ‘dark’ trading pools a temporary fix

LONDON, Feb 28 () – European attempts to shift share trading from so-called dark pools, trading venues which match buyers and sellers away from regulatory scrutiny, have had limited success, a report by the European Securities and Markets Authority (ESMA) shows. The European Union’s Markets in Financial Instruments Directive, known as MiFID II, last March […]

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UPDATE 1-Uber, Lyft to offer drivers shares in stock market listing – WSJ

() – Ride-hailing firms Uber and Lyft plan to offer cash bonuses to some of their most-active or longest-serving drivers and the option to put them into shares from their stock market launches, the Wall Street Journal reported on Thursday. FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September 14, […]

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UPDATE 1-After public grilling, Trump ex-lawyer Cohen to testify on Russia in private

WASHINGTON () – President Donald Trump’s former lawyer Michael Cohen returned to Capitol Hill on Thursday to speak behind closed doors with a congressional panel investigating Russia’s interference in the 2016 U.S. election, capping a week of testimony in which he leveled new allegations of wrongdoing at his former boss. Cohen did not respond to […]

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UPDATE 1-Eni, HitecVision team up to bid for Conoco’s North Sea assets – sources

LONDON () – Italy’s Eni has teamed up with private equity firm HitecVision to bid against Chrysaor for ConocoPhillip’s North Sea oil and gas assets, sources close to the process said. Conoco relaunched the sale process in recent weeks after energy and chemicals firm Ineos, privately owned by British billionaire Jim Ratcliffe, abandoned exclusive talks […]

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Ukraine president tries to salvage corruption law as tough election looms

KIEV () – Ukrainian President Petro Poroshenko proposed fresh legislation on Thursday aimed at fighting corruption, after the constitutional court threw out a previous anti-graft law, raising concerns that the country was backtracking on the issue. FILE PHOTO: Ukrainian President Petro Poroshenko addresses lawmakers during a session of parliament in Kiev, Ukraine February 7, 2019. […]

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UPDATE 4-Rolls-Royce quits race to power Boeing’s planned mid-market plane

LONDON () – Rolls-Royce dropped out of the race to power Boeing’s planned mid-market aircraft on Thursday, saying it did not want to risk more disruption for its airline customers by rushing out a product without extensive testing. FILE PHOTO: Rolls Royce Trent XWB engines, designed specifically for the Airbus A350 family of aircraft, are […]

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Patisserie Valerie management placed on leave after rescue – FT

Feb 28 () – Patisserie Valerie’s top management has been placed on leave two weeks after the collapsed cafe chain operator was bought out of administration, according to the Financial Times. Chief Executive Officer Stephen Francis who was appointed in November of last year and former Starbucks executive Rhys Iley who joined as the chief […]

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J.P.Morgan’s best guess on Brexit: 45 percent chance of exit with current deal

FILE PHOTO: A man walks into the JP Morgan headquarters at Canary Wharf in London May 11, 2012. /Dylan Martinez/File PhotoLONDON () – J.P.Morgan kept its best guess for Brexit unchanged on Thursday with its central assumption a 45 percent probability of an exit on the terms of the current divorce deal. “We have been […]

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UPDATE 3-Rolls-Royce quits race to power Boeing’s planned mid-market plane

LONDON () – Rolls-Royce dropped out of the race to power Boeing’s planned mid-market aircraft on Thursday, saying it did not want to risk more disruption for its airline customers by rushing out a product without extensive testing. FILE PHOTO: Rolls Royce Trent XWB engines, designed specifically for the Airbus A350 family of aircraft, are […]

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Norway’s wealth fund ditches 33 palm oil firms over deforestation

KUALA LUMPUR (Thomson Foundation) – Norway’s $1 trillion sovereign wealth fund, the world’s largest, has pulled out of more than 33 palm oil companies over deforestation risks during the last seven years, a green group said on Thursday. Norway’s Government Pension Fund Global (GPFG), which released its annual report on Wednesday, sold stakes in more […]

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Eni, HitecVision team up to bid for Conoco’s North Sea assets – sources

LONDON () – Italy’s Eni has teamed up with private equity firm HitecVision to bid against Chrysaor for ConocoPhillip’s North Sea oil and gas assets, sources close to the process said. Conoco relaunched the sale process in recent weeks after energy and chemicals firm Ineos, privately owned by British billionaire Jim Ratcliffe, abandoned exclusive talks […]

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