Q&A-Falling rates lead to irrational investments, eventual crash: Mark Mobius

Aug 31 () – A slide in emerging markets provides a good buying opportunity for some countries and stocks but falling interest rates will lead to irrational capital allocation and an eventual crash, said Mark Mobius, the founder of Mobius Capital Partners. Investors should allocate about 10% of their assets in physical gold, Mobius, who […]

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Thousands protest British PM Johnson’s move to suspend parliament

LONDON/BELFAST () – Thousands of people across Britain and Northern Ireland protested on Saturday against Prime Minister Boris Johnson’s decision to suspend parliament for about a month before the deadline for the country to leave the European Union. Anti-Brexit protestors demonstrate outside the gates of Downing Street at Whitehall in London, Britain, August 31, 2019. […]

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UPDATE 1-Sweden to introduce bank tax to fund defence boost

STOCKHOLM () – Swedish Finance Minister Magdalena Andersson said on Saturday the center-left coalition government would introduce a bank tax to help fund greater defense spending from 2022. FILE PHOTO: Sweden’s Minister of Finance Magdalena Andersson speaks after a government meeting in Harpsund, Sweden August 16, 2018. /Daniel DicksonThe Social Democrats and Greens said on […]

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UPDATE 1-UK finmin Javid says he has fantastic relationship with PM Johnson

LONDON () – Britain’s finance minister Sajid Javid on Saturday he had a “fantastic” relationship with Boris Johnson after reports of a furious argument with the prime minister after the sacking of one of his aides. Britain’s Chancellor of the Exchequer, Sajid Javid arrives at SGS College Filton, where Javid himself was a student, in […]

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UK finmin Javid says he has fantastic relationship with PM Johnson

Britain’s Chancellor of the Exchequer, Sajid Javid arrives at SGS College Filton, where Javid himself was a student, in Bristol, Britain, August 30, 2019. /Toby Melville/PoolLONDON () – Britain’s finance minister Sajid Javid on Saturday he had a “fantastic” relationship with Boris Johnson after reports that he had a furious argument with the prime minister […]

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LatAm delivery app Rappi plans to double footprint by year-end

MEXICO CITY () – Latin American delivery app Rappi plans to almost double the number of cities it operates in by year’s end, its co-founder said on Friday, following a $1 billion injection from Japan’s SoftBank that signals growing foreign interest in the region. The logo of Colombian on-demand delivery company Rappi is seen on […]

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Dorian strengthens into category 4 hurricane- NHC

Aug 30 () – Dorian strengthened into an extremely dangerous category 4 hurricane, the U.S. National Hurricane Center said on Friday. Dorian was located about 400 miles (645 kilometers) east of the northwestern Bahamas, packing maximum sustained winds of 130 mph (215 km/h), the Miami based weather forecaster said. Reporting by Nallur Sethuraman in Bengaluru, […]

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UPDATE 3-Brazil officials, Bolsonaro’s son meet with Trump to discuss Amazon fires

WASHINGTON/BRASILIA () – Brazil’s foreign minister and President Jair Bolsonaro’s son met with U.S. President Donald Trump on Friday to discuss the fires ravaging the Amazon rainforest, although no concrete measures to deal with the blazes were announced. The son of Brazilian President Jair Bolsonaro, Eduardo Bolsonaro, leaves after a meeting with U.S. President Donald […]

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UPDATE 9-Argentina curbs banks’ access to pesos amid growing market turmoil

BUENOS AIRES () – Argentina’s battered bonds and currency were driven still lower on Friday amid downgrades by three credit rating agencies and a new measure the central bank said was designed to “avoid any lack of money” and safeguard the liquidity of the country’s financial system. Some private economists said the policy, which could […]

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Juul raises over $750 million in expanded funding round

Aug 30 () – E-cigarette maker Juul Labs Inc, which is facing regulatory scrutiny in the domestic U.S market, has raised $785.2 million in an equity and debt offering as it looks to expand globally, a regulatory filing showed. A person familiar with the fundraising said the Friday’s filing was an expansion of the offering […]

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UPDATE 1-U.S. FCC chair Pai seeks approval for Nexstar-Tribune merger

FILE PHOTO: Chairman Ajit Pai speaks at the Federal Communications Commission in Washington, U.S., December 14, 2017. /Aaron P. BernsteinWASHINGTON () – Federal Communications Commission chairman Ajit Pai on Friday sought approval from his colleagues to order the go ahead for Nexstar Media Group Inc’s (NXST.O) acquisition of Tribune Media Co (TRCO.N) in a $6.4 […]

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U.S. FCC chair Pai seeks approval for Nexstar-Tribune merger

WASHINGTON, Aug 30 () – Federal Communications Commission chairman Ajit Pai on Friday sought approval from his colleagues for an order to approve Nexstar Media Group Inc’s acquisition of Tribune Media Co in a $6.4 billion tie-up, a spokeswoman for the agency said. Last month, the U.S. Justice Department approved the deal, saying the companies […]

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UPDATE 8-Argentine central bank curbs financial institutions access to pesos

BUENOS AIRES () – Argentina’s battered bonds and currency were driven still lower on Friday amid downgrades by three credit rating agencies and a new policy that the central bank said would ensure the liquidity of the country’s financial system. Some private economists said the policy, which could limit the availability of hard peso currency […]

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Activist Jana to push again for changes at Outback owner Bloomin’ Brands

BOSTON () – Activist hedge fund Jana Partners on Friday disclosed a large new stake in Outback Steakhouse owner Bloomin’ Brands Inc , returning for the second time in nearly two years to push for fresh changes after reaching a settlement in 2018. FILE PHOTO: Barry Rosenstein, founder and managing Partner of JANA Partners LLC., […]

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UPDATE 6-Argentine peso, bond prices fall further as S&P rating cut prompts selling

BUENOS AIRES/LONDON/NEW YORK () – Argentina’s battered bonds were driven still lower on Friday after a credit rating cut from Standard & Poor’s triggered automatic selling mechanisms at big pension funds. Risk spreads blew out to levels not seen since 2005 while the local peso currency extended its year-to-date swoon to 36%, forcing renewed central […]

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UPDATE 1-Vanguard seeks more boardroom diversity and wants details

BOSTON () – Top mutual fund manager Vanguard Group Inc will ask companies about the gender, age and race of their directors, adding pressure on U.S. companies to diversify their leadership. Vanguard gave the guidance in its annual stewardship report released on Friday morning. With about $5 trillion under management and known for products like […]

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Julius Baer decides to keep Kairos after strategic review

FILE PHOTO: The sign for Swiss bank Julius Baer is seen at a branch office in Luzern, Switzerland, November 23, 2017. /Arnd WiegmannZURICH () – Lender Julius Baer (BAER.S) has decided to keep its Italian subsidiary Kairos after completing a strategic review and as the asset and wealth manager’s performance improves, Switzerland’s third-largest listed bank […]

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Dorian becomes category 3 hurricane -NHC

Aug 30 () – Dorian strengthened into a category 3 hurricane on the Saffir-Simpson Wind Scale and could be a significant threat to Florida and the northwestern Bahamas, the U.S. National Hurricane Center (NHC) said on Friday. Dorian was located about 445 miles (715 kilometers) east of the northwestern Bahamas with maximum sustained winds of […]

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Bets rise for Mexico rate cut as central bank highlights concern

MEXICO CITY, Aug 30 () – Expectations for a September interest rate cut in Mexico are growing after the central bank in recent days slashed its 2019 economic forecast and underscored concerns about slowing growth, domestic demand and private investment. Known as Banxico, the central bank said economic stagnation reflected weakness in most areas of […]

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Critics accuse U.S. CEOs of contradicting pledge to work for more than shareholders

BOSTON () – A pledge by top CEOs to work for more than shareholders drew criticism on Friday from investor activists, who accused the corporate leaders of contradicting their inclusive message by lobbying against social and environmental reform efforts. The activists, members of a New York interfaith group, faulted the CEO trade group known as […]

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Brazil real has weakest month in 4 years

BRASILIA, Aug 30 () – Brazil’s real lost almost 8% in August, making it one of the worst-performing currencies against the dollar, behind Argentina’s peso, and marking its weakest month in four years. The slide, exacerbated by market positioning, aggressive bets on lower Brazilian interest rates and a financial crisis in neighboring Argentina, took the […]

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FOREX-Euro falls to its lowest since May 2017

NEW YORK () – The euro fell below $1.10 on Friday to its weakest since May 2017 as a multi-day downward shift in the single currency intensified in afternoon trade. FILE PHOTO: A man is seen in front of a sheet of five Euro notes at the opening of the new Central Bank of Ireland […]

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UPDATE 4-Argentine credit rating cut triggers automatic pension fund sales, asset prices fall

LONDON/BUENOS AIRES () – Argentina’s battered bonds were driven still lower on Friday after a credit rating cut from Standard & Poor’s triggered automatic selling mechanisms at big German pension funds. Risk spreads blew out to levels not seen since 2005 while the local peso currency extended its year-to-date swoon to 36%, forcing renewed central […]

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Scout24’s activist shareholders gain non-executive board seat

FILE PHOTO: The headquarters of Scout24, an operator of digital marketplaces for real estate and automobiles, is pictured in Munich, Germany, July 5, 2019. /Michael DalderMUNICH () – Activist investors calling for strategic change at Scout24 (G24n.DE) have won a vote to place a representative on the German classifieds group’s non-executive supervisory board, ramping up […]

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UPDATE 2-India announces series of state-run bank mergers to strengthen lenders

* Govt announces a series of mergers involving 10 banks * Total number of government-owned banks cut to 12 * 10 state-owned lenders will be granted additional funds (Adds analyst comments, details on governance reforms) By Mayank Bhardwaj and Aftab Ahmed NEW DELHI, Aug 30 () – India announced a series of mergers involving 10 […]

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African Rainbow Minerals to moth-ball loss-making Nkomati mine

JOHANNESBURG, Aug 30 () – South African diversified miner African Rainbow Minerals (ARM) said on Friday it would reduce production at its loss-making Nkomati mine in preparation for closure. The nickel mine, in Mpumalanga province, was hit by soaring costs and lower metals prices in the last few years, the firm said during its annual […]

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