UPDATE 1-UK will not appoint new BoE chief before Dec. 12 election – official

FILE PHOTO: Mark Carney the Governor of the Bank of England speaks at the bank’s quarterly Inflation Report Press Conference in London, Britain August 1, 2019. Chris J Ratcliffe/Pool via LONDON () – Britain’s government will not name a successor to Bank of England Governor Mark Carney before a national election due on Dec. 12, […]

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UPDATE 2-Even after Lyft beat, Wall Street pummels former unicorns

SAN FRANCISCO () – Wall Street pummeled shares of companies including Pinterest (PINS.N), Lyft (LYFT.O), Uber Technologies (UBER.N) and SmileDirectClub SDC.O on Thursday as investors grew more sour on money-losing former startups that went public this year. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 31, […]

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Goldman-backed ReNew says Andhra Pradesh problems could hurt India’s renewables target

NEW DELHI () – Investors could be put off India by Andhra Pradesh state’s difficult relationship with renewable energy companies, Sumant Sinha, chair of Goldman Sachs-backed ReNew Power, said on Thursday. India, the world’s third-largest emitter of greenhouse gases, wants to raise its renewable energy capacity to 500 gigawatts (GW), or 40% of total capacity, […]

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UPDATE 1-Motor racing-Formula One presents new car and rules revamp for 2021

AUSTIN, Texas () – Formula One presented a dramatic overhaul of the sport on Thursday with a new car and regulations aimed at producing closer and cheaper competition from 2021 as well as more exciting and environmentally-friendly racing. FILE PHOTO: Formula One group CEO Chase Carey attends the 89th Geneva International Motor Show in Geneva, […]

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UPDATE 2-Lebanon’s president calls for new government of technocrats to push economic reforms

BEIRUT () – Lebanese President Michel Aoun called on Thursday for the formation of a new government of technocrats following the resignation of prime minister Saad al-Hariri amid nationwide protests against a sectarian elite blamed for mishandling the economy. FILE PHOTO: Lebanon’s President Michel Aoun is pictured as he addresses the nation at the Baabda […]

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UPDATE 1-Italian insurer Cattolica ousts CEO over strategy differences

MILAN () – The board of Cattolica Assicurazioni (CASS.MI) has ousted Chief Executive Alberto Minali citing differences over the company’s structure, strategy, relations with shareholders and the market, the company said on Thursday. It said all of the chief executive’s powers had been transferred to the insurer’s Managing Director Carlo Ferraresi. Minali, a former CFO […]

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Proxy adviser ISS sues U.S. markets regulator over guidance aimed at curbing advice

WASHINGTON () – Proxy adviser Institutional Shareholder Services Inc on Thursday sued the U.S. Securities and Exchange Commission over guidance aiming to clarify how investors and firms that vote on their behalf should cast their ballots in corporate elections. FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC […]

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Business forum boosts Saudi image, but some say more rehab needed

RIYADH () – Saudi Arabia’s crown prince showed up only briefly this week at the kingdom’s flagship investment forum, which largely drew leaders and firms with strategic interest in the Gulf state and wrapped up with relatively meagre deals and an anticlimactic finale. A Saudi woman uses her phone during the Future Investment Initiative conference […]

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Lebanese banks to reopen; association asks customers to show consideration

FILE PHOTO: The closed entrance of the Association of Banks in Lebanon in downtown Beirut, Lebanon, October 25, 2019. /Alkis KonstantinidisBEIRUT () – Lebanon’s banking association said on Thursday that banks would reopen on Friday to meet “urgent” needs after being shut for two weeks as an economic crisis and nationwide protests rage, but asked […]

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Motor racing-Formula One presents new car and rules revamp for 2021

AUSTIN, Texas, Oct 31 () – Formula One presented a dramatic overhaul of the sport on Thursday with a new car and regulations aimed at producing closer and cheaper competition from 2021 as well as more exciting and environmentally-friendly racing. The new technical, sporting and financial rules include a budget cap and represent the fruit […]

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UPDATE 2-Russian tycoon Gutseriyev offers to pay in part for bailout costs – document

MOSCOW () – Russian oil tycoon Mikhail Gutseriyev has offered to buy back a property company and other assets inherited by the state to partially cover the bailout of banks once owned by his family, a document reviewed by showed. FILE PHOTO: Mikhail Gutseriyev, president of oil and gas company RussNeft, attends The Russia Forum […]

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UPDATE 4-Kraft Heinz beats profit estimates, plans to boost marketing; shares surge

() – Kraft Heinz Co (KHC.O) will spend more on marketing for key brands widely thought to have been neglected after reporting on Thursday that lower costs helped it beat third-quarter profit expectations, sending shares up 13% in midday trading. FILE PHOTO: Heinz tomato Ketchup is show on display during a preview of a new […]

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African Development Bank board eyes 125% capital increase – Ivorian president

ABIDJAN, Oct 31 () – The African Development Bank’s board of governors may approve a 125% capital increase to $225 billion on Thursday, Ivory Coast President Alassane Ouattara said. The board is holding an extraordinary meeting to decide whether to approve a seventh boost to the bank’s capital base. The last increase was agreed in […]

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UPDATE 3-Altria writes down Juul investment by $4.5 bln amid vaping backlash

() – Altria Inc took a $4.5 billion hit from its investment in embattled electronic-cigarette maker Juul Labs Inc on Thursday, the latest setback for the startup as a regulatory crackdown on vaping threatens to upend the fast-growing industry. FILE PHOTO: An electronic cigarette device made by JUUL is shown in this picture illustration taken […]

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UPDATE 3-Thomson Reuters operating profit tops Wall Street estimates

NEW YORK () – Thomson Corp (TRI.N) (TRI.TO), parent of News, reported higher-than-expected quarterly operating profit on Thursday and said it would raise its dividend payout ratio and buy back more shares. FILE PHOTO: A Thomson logo is pictured on a building during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, […]

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UPDATE 1-Lebanon’s Hezbollah, France call for new government

BEIRUT () – Lebanon’s powerful Iran-backed Hezbollah movement said on Thursday Saad al-Hariri’s resignation as prime minister would waste the time available for reforms that are widely seen as vital to steering the country out of a deep economic crisis. Demonstrators wave Lebanese flags as the pass by Lebanese soldiers during a protest in Beirut, […]

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GM recalls 638,000 U.S. SUVs, trucks for unintended braking

Oct 31 () – General Motors Co is recalling 638,000 U.S. sport utility vehicles and pickup trucks because a wheel-speed sensor could fail and cause unintended braking, it said Thursday. The recall covers some 2015-2020 Chevrolet Suburban, Tahoe, and Yukon models, and some 2014-2018 Chevrolet Silverado 1500 and GMC Sierra 1500 vehicles. GM said the […]

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Offering « real change », UK Labour’s Corbyn vows to oust Conservatives

LONDON () – Opposition Labour leader Jeremy Corbyn took aim at tax dodgers, dodgy landlords, bad bosses and big polluters on Thursday, launching an election campaign with a promise of “real change” in Britain. Britain’s opposition Labour Party leader Jeremy Corbyn gestures as he leaves after a launch event for the Labour party’s general election […]

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German finance watchdog likely to decide next week on new AMS bid for Osram -sources

VIENNA () – Germany’s finance watchdog Bafin is likely to decide next week whether to approve Austrian sensor maker AMS’s (AMS.S) (AMS.VI) new takeover offer for Osram (OSRn.DE), three sources familiar with the matter told on Thursday. FILE PHOTO: The logo of German lighting manufacturer Osram is illuminated at the company’s headquarters in Munich, Germany, […]

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UPDATE 2-Thomson Reuters operating profit tops Wall Street estimates

NEW YORK () – Thomson Corp (TRI.N) (TRI.TO), parent of the News agency, reported higher-than-expected quarterly operating profit on Thursday and said it would raise its dividend payout ratio and buy back more shares. FILE PHOTO: A Thomson logo is pictured on a building during the World Economic Forum (WEF) annual meeting in Davos, Switzerland […]

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UPDATE 2-Cigna raises 2019 forecast as Express Scripts buyout powers profit beat

() – Cigna Corp (CI.N) raised its full-year earnings target on Thursday, after reporting a better-than-expected quarterly profit boosted by its acquisition of pharmacy benefits manager Express Scripts last year. FILE PHOTO: A screen displays the logo fro Cigna Corp. on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July […]

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Kraft Heinz third-quarter sales miss estimates

Oct 31 () – Kraft Heinz Co fell short of Wall Street expectations for quarterly sales on Thursday as the struggling packaged food company battled weak demand in the United States, its biggest market. Net income attributable to the company’s shareholders rose to $899 million, or 74 cents per share, in the third quarter ended […]

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Thomson Reuters posts higher operating profit

FILE PHOTO: The Thomson logo is seen on the company building in Times Square, New York, U.S., January 30, 2018. /Andrew KellyNEW YORK () – Thomson Corp (TRI.N) (TRI.TO), parent of the News agency, swung to a net loss in the third quarter, reflecting its stake in Refinitiv, but its revenue and operating profit rose. […]

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