UPDATE 2-German SPD’s new leadership casts doubt over Merkel coalition

BERLIN () – Sharp critics of the coalition with Chancellor Angela Merkel’s conservatives won a vote for the leadership of Germany’s Social Democrats (SPD) on Saturday, raising big questions over the future of the government. Saskia Esken and Norbert Walter-Borjans gesture after being announced by Rhineland-Palatinate State Premier Malu Dreyer as winners of a Social […]

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UPDATE 1-Critics of Merkel coalition win German SPD leadership vote

Saskia Esken and Norbert Walter-Borjans gesture after being announced by Rhineland-Palatinate State Premier Malu Dreyer as winners of a Social Democratic Party members’ ballot for leadership in Berlin, Germany, November 30, 2019. /Fabrizio BenschBERLIN () – Opponents of the coalition with Chancellor Angela Merkel’s conservatives won a vote for the leadership of Germany’s Social Democrats […]

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UPDATE 1-Critics of Merkel coalition win German SPDR leadership vote

(Updates with vote result) By Madeline Chambers BERLIN, Nov 30 () – Opponents of the coalition with Chancellor Angela Merkel conservatives won a vote for the leadership of Germany’s Social Democrats (SPDR) on Saturday, raising questions over the future of the government. The SPDR said Norberto Walter-Borjans and his running mate Saskia Esker won about […]

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UPDATE 1-As Juncker bids farewell, new EU executive begins with scrutiny over Luxembourg tax

BRUSSELS () – Officials from the new European Commission will discuss a report by International Monetary Fund researchers that lists Luxembourg as a world-leading tax haven just days after the former leader of the Grand Duchy departs the EU executive’s helm. FILE PHOTO: General view of the city of Luxembourg, Luxembourg, March 25, 2017. /Eric […]

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Germany’s SPD pick new leader with fate of Merkel coalition at stake

BERLIN () – Germany’s Social Democrats (SPD) will on Saturday announce the winner of a party leadership ballot, whose first task will be to decide whether to quit the ruling coalition with Chancellor Angela Merkel’s conservatives. FILE PHOTO: German Chancellor Angela Merkel and Vice Chancellor and Finance Minister Olaf Scholz attend the weekly cabinet meeting […]

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New Zealand government flags significant infrastructure spending

FILE PHOTO: A New Zealand Dollar note is seen in this picture illustration June 2, 2017. /Thomas White/Illustration/File PhotoMELBOURNE () – The New Zealand government plans a significant increase in infrastructure spending, making use of low borrowing costs to “build” the country, Finance Minister Grant Robertson said on Saturday. Economic output of the Pacific country […]

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UPDATE 2-China’s factory activity unexpectedly returns to growth in November

BEIJING () – Factory activity in China unexpectedly returned to growth in November for the first time in seven months, as domestic demand picked up on Beijing’s accelerated stimulus measures to steady growth. FILE PHOTO: An employee works at the production line of aluminium rolls at a factory in Zouping, Shandong province, China November 23, […]

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UPDATE 1-China November factory activity unexpectedly returns to growth

BEIJING () – Factory activity in China unexpectedly returned to growth in November for the first time in seven months, as domestic demand picked up on Beijing’s accelerated stimulus measures to steady growth. FILE PHOTO: An employee works at the production line of aluminium rolls at a factory in Zouping, Shandong province, China November 23, […]

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S&P raises Ireland’s rating on strong fiscal measures, economic growth

Nov 29 () – S&P Global Ratings said on Friday that it raised Ireland’s long-term and short-term foreign and local currency sovereign credit ratings to ‘AA-/A-1+’ from ‘A+/A-1’, commending the country’s strong fiscal measures and economic growth. « The outlook is stable because we expect that, despite external risks — including the possibility of a no-deal […]

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U.S. citizen living in Singapore charged with helping North Korea evade sanctions

NEW YORK () – A U.S. digital currency specialist living in Singapore has been arrested and criminally charged with helping North Korea use cryptocurrency and blockchain technology to evade American sanctions, the U.S. Department of Justice said on Friday. Federal prosecutors in Manhattan said Virgil Griffith, 36, traveled to North Korea via China in April […]

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UPDATE 1-Connected car prices may rise if Qualcomm wins antitrust case -auto makers

() – The cost of cars equipped with ultra-fast 5G wireless technology is likely to go up if microchip supplier Qualcomm Inc’s (QCOM.O) patent licensing practices fail to change, a trade group representing major automakers and two leading automotive suppliers said in court filings on Friday. FILE PHOTO: Computer chip maker Intel’s logo is shown […]

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Canada being asked to contribute funding to Mexican labour reforms in USMCA talks- report

Nov 29 () – Canada is being asked to contribute funding to Mexico’s labour reforms in the U.S.-Mexico-Canada Agreement (USMCA) trade talks, the Globe and Mail reported on Friday, citing a source. The topics dominating the talks include a stronger dispute settlement mechanism, steps to modify patent protections that may rein in drug prices and […]

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UPDATE 1-France to stress test banks, insurers’ climate risks next year

PARIS () – France’s financial regulator will subject banks and insurers to climate change stress tests next year, central bank governor Francois Villeroy de Galhau said on Friday. FILE PHOTO: Francois Villeroy de Galhau, governor of the Bank of France, attends a seminar on the sidelines of the G20 finance ministers and central bank governors […]

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Lebanon central bank to take needed steps amid crisis – banking official

BEIRUT () – Lebanon’s central bank governor will take “necessary, temporary measures” to preserve the banking sector and depositor rights, the banking association head said on Friday. FILE PHOTO: Salim Sfeir, chairman of the Association of Banks in Lebanon and chief executive of Bank of Beirut, is pictured during an interview with in Beirut, Lebanon […]

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London street is « last bastion » against gentrification in new film

LONDON (Thomson Foundation) – Glassy skyscrapers and luxury apartment towers cast a shadow over an east London high street dotted with greasy-spoon cafes and launderettes, a “last bastion” against gentrification, according to a new film released in Britain on Friday. London’s growing financial district and a traditionally working-class neighborhood sit awkwardly alongside each other in […]

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UPDATE 3-South African Airways shunned by insurers as financial doubts grow

JOHANNESBURG () – Two big travel insurance companies in South Africa have stopped covering tickets issued by South African Airways (SAA) against insolvency as doubts grow about whether the struggling state-owned airline can survive. FILE PHOTO: A South African Airways Airbus A340-300 plane prepares to take off at the O. R. Tambo International Airport in […]

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UPDATE 1-Four insurers battle for Spanish market share with Caser takeover – sources

LONDON/MADRID () – The Netherlands’ biggest insurer NN Group NV (NN.AS) and Belgian rival Ageas (AGES.BR) are vying to win market share in Spain as they prepare final offers to take control of domestic insurer Caser Seguros ahead of a Dec. 3 bid deadline, sources said. Caser is one of Spain’s leading players in bancassurance […]

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UPDATE 2-Investec expects 189 mln stg from asset management spin-off in March

JOHANNESBURG/LONDON () – Anglo-South African financial services group Investec (INVP.L) (INLJ.J) expects to raise about 189 million pounds ($242 million) from the sale of around 10% of its asset management business, which will be renamed Ninety One when it is spun off in March. Investec, which manages more than 119 billion pounds ($154 billion) in […]

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UPDATE 2-Norwegian bank DNB’s shares drop 6% on Namibia investigation

OSLO () – Shares of Norwegian bank DNB (DNB.OL) fell 6.4% on Friday after police launched an investigation into the handling of payments from an Icelandic fisheries business to Namibia. FILE PHOTO: A view of DNB bank’s local office in Riga, Latvia November 20, 2013. /Ints Kalnins/File PhotoNorway’s white-collar crime unit late on Thursday said […]

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Sri Lankan shares end at 17-month high; rupee slips

COLOMBO, Nov 29 () – Sri Lankan shares closed at a 17-month high on Friday, helped by positive sentiment surrounding tax cuts by the country’s new government, while the rupee ended a tad weaker. ** The government said on Wednesday it had decided to reduce value-added tax to 8% from 15% from Dec. 1, and […]

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UPDATE 1-South African Airways dropped by leading travel insurer

* Strike pushes SAA to brink of collapse * Three insurers stop covering its tickets * Government holding talks about airline’s future * Analyst says moves by insurers ‘hugely significant’ (Adds other insurers drop SAA) By Alexander Winning JOHANNESBURG, Nov 29 () – Three travel insurance companies in South Africa have stopped covering tickets issued […]

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