Sudan fires scores of diplomats allegedly linked to Bashir

KHARTOUM () – Sudan has fired scores of diplomats for alleged links to the administration of toppled President Omar al-Bashir, a legal committee said on Saturday. The Empowerment Removal Committee was formed under a law introduced in November to dismantle the system built by Bashir, who was ousted in April last year after nearly three […]

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UPDATE 1-France to push pension reform through parliament by decree to avoid vote

FILE PHOTO – French Prime Minister Edouard Philippe leaves after the weekly cabinet meeting at the Elysee Palace in Paris, France, February 19, 2020. /Charles PlatiauPARIS () – The French government said on Saturday it would push President Emmanuel Macron’s contested pension reform through parliament by decree, avoiding the need for a vote after the […]

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France to push through pension reform by decree, without vote

PARIS, Feb 29 () – French Prime Minister Edouard Philippe said the government would push its contested pension reform through parliament by decree, avoiding the need for a vote after the opposition filed more than 40,000 amendments to the draft law. The reform is the single greatest overhaul of France’s pension system since World War […]

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CORRECTED-FOREX-Dollar dives to 20-week low against yen on Fed rate cut hint

(This story corrects yen moves in headline, lead and penultimate paragraph) FILE PHOTO: A trader shows U.S. dollar notes at a currency exchange booth in Karachi, Pakistan December 3, 2018. /Akhtar SoomroBy Kate Duguid NEW YORK () – The U.S. dollar slid to a 20-week low against the Japanese yen on Friday after Federal Reserve […]

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UPDATE 1-HNA asks China’s Hainan govt for help as coronavirus lifts liquidity risks

BEIJING () – HNA Group has asked the government of China’s province of Hainan to lead a work group dedicated to resolving its increasing liquidity risks after a slowdown in business caused by the coronavirus outbreak. FILE PHOTO – A HNA Group logo is seen on the building of HNA Plaza in Beijing, China February […]

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Pakistan wants ‘responsible withdrawal’ of U.S. troops from Afghanistan

DOHA, Feb 29 () – Pakistan wants a ‘responsible withdrawal’ of U.S. troops from Afghanistan, Foreign Minister Shah Mahmood Qureshi said on Saturday, shortly before Washington is set to sign a major agreement between Washington and Taliban Islamist militants. “We want a responsible withdrawal,” Quereshi told in Qatar’s capital of Doha, when asked about the […]

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IMF made « very good progress » in discussions in Ukraine: statement

KIEV () – The International Monetary Fund said on Saturday it had made good progress in talks with the Ukrainian authorities and that the discussions would continue in the coming days. The IMF has given conditional approval for a new loan programmer’s to Ukraine worth $5.5 billion but its disbursement depends on Kiev’s performance on […]

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UPDATE 3-Elliott targets Twitter, seeking CEO Dorsey’s removal -sources

() – Hedge fund Elliott Management Corp has amassed a stake in Twitter Inc (TWTR.N) and is pushing for changes, including removal of the social media company’s chief executive, Jack Dorsey, two people familiar with the matter said on Friday. FILE PHOTO: Paul Singer, founder and president of Elliott Management Corporation, speaks at WSJD Live […]

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REFILE-FOREX-Dollar dives to 7-week low against yen on Fed rate cut hint

NEW YORK () – The U.S. dollar slid to a seven-week low against the Japanese yen on Friday after Federal Reserve Chair Jerome Powell suggested the central bank could cut interest rates in the wake of the coronavirus. U.S. Dollar and Japan Yen notes are seen in this June 22, 2017 illustration photo. /Thomas White/IllustrationPowell […]

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UPDATE 2-USTR vows to push for trade deals with Britain, EU; seeks reforms at WTO

WASHINGTON () – The Trump administration on Friday said it would focus on concluding new trade agreements with Britain, the European Union and Kenya over the coming year, while strictly enforcing trade laws and pushing for reforms of the World Trade Organization. FILE PHOTO: U.S. and European Union flags are pictured during the visit of […]

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UPDATE 3-Harley-Davidson looks for new leadership to end its sales struggle

() – Harley-Davidson Inc (HOG.N) Chief Executive Officer Matthew Levatich stepped down on Friday after failing to boost U.S. sales of its iconic motorcycles. FILE PHOTO: A Harley-Davidson Inc. logo is seen at the Paris auto show in Paris, France, October 4, 2018. /Benoit TessierThe company said board member Jochen Zeitz will serve as the […]

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China’s service sector activity contracts at record pace in Feb- official PMI

BEIJING, Feb 29 () – China’s services sector activity also shrank at a record pace in February, official data showed on Saturday. The official non-manufacturing PMI fell to 29.6, from 54.1 in January, the National Bureau of Statistics said. The 50-point mark separates growth from contraction on a monthly basis. Beijing has been counting on […]

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What’s in a name? Corporate dealmakers tussle over coronavirus references

NEW YORK () – Many companies negotiating mergers and acquisitions (M&A) contracts are haggling over whether the global coronavirus outbreak should offer legal grounds for the acquirers to walk away from their agreements, dealmakers say. FILE PHOTO: People wearing masks after the coronavirus outbreak wait in a line to buy masks as it rains in […]

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Wall Street in coronavirus contingency mode with staff, visitors, regulators

WASHINGTON/NEW YORK () – Big U.S. banks have been rolling out contingency plans to respond to the global coronavirus outbreak – requiring some staff to work from home, implementing travel restrictions, and talking to regulators about potential stresses. FILE PHOTO: A Wall St. street sign is seen near the New York Stock Exchange (NYSE) in […]

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USTR vows to push for trade deals with Britain, EU; seeks broader reset at WTO

FILE PHOTO: U.S. and European Union flags are pictured during the visit of Vice President Mike Pence to the European Commission headquarters in Brussels, Belgium February 20, 2017. /Francois LenoirWASHINGTON () – The Trump administration on Friday said it would focus on concluding trade agreements with Britain, the European Union and Kenya over the coming […]

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UPDATE 1-Schwab tells employees to self-quarantine after visiting China, South Korea

(Updates Schwab’s assets under management and share price action) By David Randall NEW YORK, Feb 28 () – Brokerage giant Charles Schwab Corp has asked employees who recently traveled to China or South Korea to remain at home for the next two weeks. The request came via email on Friday morning to the firm’s 20,000 […]

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Goldman’s asset management unit ups positions in hotel, cruise line stocks

FILE PHOTO: A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. Goldman Sachs Group Inc said on Tuesday quarterly profit doubled, beating Wall Street estimates, boosted by returns from investing the bank’s own money. /Brendan McDermidNEW YORK () – Goldman Sachs Group Inc’s (GS.N) asset […]

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Activist investor Robbins shutting hedge fund to pursue other things

FILE PHOTO: Clifton Robbins, founder and CEO, Blue Harbour Group, speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2017. /Mike Blake/File PhotoNEW YORK () – Activist investor Clifton S. Robbins told clients on Friday that he is shuttering his Blue Harbour Group not because investors want their money back […]

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As stocks plunge on coronavirus, hedge funds can brag: ‘we’re down less!’

NEW YORK () – This week’s stock market plunge on coronavirus worries has given hedge fund managers a rare opportunity to brag that they are performing better than traditional stock market funds during a time of market stress. Analyst reports on Friday showed global long-short equity hedge funds lost less money than traditional stock market portfolios, […]

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UPDATE 1-Fed’s Powell says economy is fine but Fed ready to act as needed

FILE PHOTO: Federal Reserve Board Chairman Jerome Powell leaves after a Senate Banking Committee hearing on The Semiannual Monetary Policy Report to the Congress on Capitol Hill in Washington, U.S., February 12, 2020. /Yuri Gripas() – Federal Reserve Chair Jerome Powell on Friday said the central bank will “act as appropriate” to support the economy […]

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UPDATE 1-SoftBank communications chief Gary Ginsberg takes leave to aid Bloomberg campaign -sources

() – Gary Ginsberg, the global head of communications for SoftBank Group Corp (9984.T), has taken an indefinite leave of absence to advise Michael Bloomberg’s U.S. presidential campaign, people familiar with the matter said on Friday. U.S. Democratic presidential candidate Michael Bloomberg speaks at a campaign event in Memphis, Tennessee, U.S. February 28, 2020. /Karen […]

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Bank lending could dry up in crypto-currency economy, warns BoE’s Cunliffe

FILE PHOTO: Bank of England Deputy Governor Jon Cunliffe speaks at the ‘Future Forum 2017′ event in St George’s Hall, Liverpool, Britain November 16, 2017. /Phil Noble/File PhotoLONDON () – The rise of digital currencies such as Facebook’s (FB.O) Libra could lead to a drying up of credit flowing into the broader economy, Bank of […]

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Fixing food? Norwegian investor eyes up tech entrepreneurs of the future

LONDON (Thomson Foundation) – Entrepreneurs tackling the future of food can vye for a $150,000 investment as part of an initiative launched in London on Friday seeking to unearth food technology such as robotic farming and lab-produced meat. Oslo-based investor Katapult will offer the sum to about 36 promising entrepreneurs who wield tech to combat […]

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