Wirecard investor DWS says has sold down position, considering legal action

LONDON, June 18 () – Asset manager DWS, the fund management arm of Deutsche Bank, said it has further sold down its position in embattled German technology company Wirecard and was considering legal action. On Thursday Wirecard’s auditor refused to sign off its 2019 accounts over a missing $2.1 billion, sending its shares down 60% […]

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UPDATE 4-Macron visits London to mark de Gaulle’s WW2 resistance call and talk Brexit

LONDON () – French President Emmanuel Macron visited London on Thursday for a ceremony to mark the 80th anniversary of General de Gaulle’s call for wartime resistance, and to discuss Brexit and the COVID-19 pandemic with Prime Minister Boris Johnson. FILE PHOTO: Britain’s Prime Minister Boris Johnson welcomes France’s President Emmanuel Macron at the NATO […]

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UPDATE 3-Prudential sells Jackson equity stake to Apollo-backed Athene for $500 mln

LONDON/BOSTON () – Prudential (PRU.L) sold a minority stake in its U.S. business, Jackson, to Apollo Global-backed Athene Holding (ATH.N) for $500 million, the insurer said on Thursday, in the first phase of its plan to create an independent U.S. business. FILE PHOTO: The logo of British life insurer Prudential is seen on their building […]

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UPDATE 2-Atlantia asks EU to intervene in concession row with Italy

(Adds Atlantia letter, EU spokesman, asset manager comment) By Francesca Landini and Stephen Jewkes MILAN/BRUSSELS, June 18 () – Infrastructure group Atlantia has asked the European Commission to intervene in a political dispute over its motorway concession, accusing the Italian government of breaching EU law in an escalating two-year row. The future of the concession […]

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Turkey’s ruling party fights its corner over wrestler joining bank board

FILE PHOTO: Hamza Yerlikaya of Turkey celebrates after winning the gold medal in the greco-roman wrestling 96kg division in the European Wrestling Championships in Moscow April 27, 2006. /David Mdzinarishvili ANKARA () – Turkey’s ruling AK Party defended the appointment of a former wrestling champion to the board of a major state bank, saying those […]

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Wirecard short sellers hit jackpot after shares dive 60%

LONDON () – Short sellers’ months-long pursuit of Wirecard (WDIG.DE) paid off spectacularly on Thursday when shares in the German fintech company plunged a record 60%. FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, […]

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Ex-Morgan Stanley diversity officer says bank slashed her budget by 71%

FILE PHOTO: The headquarters of Morgan Stanley is seen in New York January 9, 2013. /Shannon Stapleton NEW YORK () – A lawyer representing a former Morgan Stanley (MS.N) diversity officer who is suing the bank over racial discrimination said on Wednesday the bank cut her client’s budget for promoting diversity and financial education by […]

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British oil major BP raises $12 bln in debt – FT

FILE PHOTO: A BP logo at a petrol station in London, Britain January 15, 2015. /Luke MacGregor/File Photo () – British oil major BP Plc raised $12 billion of debt with equity-like features, taking advantage of low interest rates to fortify its balance sheet, the Financial Times reported on Wednesday. The report of the fundraising […]

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U.S. proposed pause in OECD talks on international taxation -Treasury

WASHINGTON, June 17 () – The U.S. government proposed a pause in Organization of Economic Co-operation and Development talks about international taxation while governments work to respond to the coronavirus pandemic, a spokeswoman for the U.S. Treasury said. Treasury spokeswoman Monica Crowley issued the statement late on Wednesday after a report that Treasury Secretary Steven […]

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Unemployment payments backlog draws hundreds to Kentucky’s capital

Rose Carter, of Lexington, waits in a line outside a temporary unemployment office established by the Kentucky Labor Cabinet at the State Capitol Annex in Frankfort, Kentucky, U.S. June 17, 2020. /Bryan Woolston FRANKFORT, Ky. () – Hundreds of people who lost jobs during the coronavirus crisis but have been unable to get their unemployment […]

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‘Medicaid best price’ changes aimed at value-based gene therapy contracts -U.S. agency

FILE PHOTO: Seema Verma, Administrator of Centers for Medicare and Medicaid Services, U.S. Department of Health and Human Services, speaks at the 2019 Milken Institute Global Conference in Beverly Hills, California, U.S., April 29, 2019. /Lucy Nicholson/File Photo () – Proposed changes to requirements that state-run Medicaid programs are given the best drug prices would […]

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UPDATE 2-Fed’s Powell beats drum for more government aid to bolster economy

() – The U.S. economy is beginning to recover from the worst of the coronavirus crisis, but with some 25 million Americans displaced from work and the pandemic ongoing, it will need more help, Federal Reserve Chair Jerome Powell told lawmakers on Wednesday. FILE PHOTO: Federal Reserve Board Chairman Jerome Powell presents the Monetary Policy […]

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UPDATE 1-Brazil’s Petrobras expects to sell stake in fuel distributor in the second half, sources say

SAO PAULO/RIO DE JANEIRO () – Brazil’s state-controlled oil company Petroleo Brasileiro SA is resuming plans to unload its remaining stake in the country’s top gas station operator, Petrobras Distribuidora SA, two people with knowledge of the matter said. Petrobras will try to conclude the offering during the second half of the year, the sources […]

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UPDATE 1-Fed’s Powell beats drum for more government aid to bolster economy

() – The U.S. economy is beginning to recover from the worst of the coronavirus crisis, but with some 25 million Americans displaced from work and the pandemic ongoing, it will need more help, Federal Reserve Chair Jerome Powell told lawmakers on Wednesday. FILE PHOTO: Federal Reserve Board Chairman Jerome Powell presents the Monetary Policy […]

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Chile lithium miners feel heat from exploding coronavirus outbreak, output steady

SANTIAGO, June 17 () – Chile´s vaunted lithium industry, the world´s second largest, has begun to feel the impact of a runaway coronavirus outbreak nationwide, though top producers SQM and Albemarle said output from their Atacama operations nonetheless remained unscathed. Albemarle, the world´s No.1 miner of the ultralight battery metal, told in an email Wednesday […]

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Black patients with COVID-19 in Atlanta more likely to be hospitalized -CDC

() – A study of coronovirus patients in Atlanta has found that black patients are more likely to be hospitalized than white patients, highlighting racial disparities in the U.S. healthcare system, researchers from the Centers for Disease Control and Prevention (CDC) said on Wednesday. About 79% of black patients were hospitalized for COVID-19, the disease […]

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U.S. pulled out of talks on digital services taxes – Lighthizer

FILE PHOTO: U.S. Trade Representative Robert Lighthizer testifies before a Senate Finance Committee hearing on « The President’s 2019 Trade Policy Agenda and the United States-Mexico-Canada Agreement » on Capitol Hill in Washington, U.S., June 18, 2019. /Leah Millis WASHINGTON () – U.S. Treasury Secretary Steven Mnuchin decided to pull out of negotiations on digital services taxes […]

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WRAPUP 2-U.S. homebuilding rises moderately; jump in permits hints at green shoots

WASHINGTON () – U.S. homebuilding increased less than expected in May, but a strong rebound in permits for future home construction suggested the housing market was starting to emerge from the COVID-19 crisis along with the broader economy. Other data on Wednesday showed applications for loans to buy a home surged to a near 11-1/2-year […]

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UPDATE 1-Sweden to lift travel curbs to 10 European countries from June 30

STOCKHOLM () – Sweden will lift its advice against non-essential travel to 10 European countries from June 30, the foreign ministry said on Wednesday. The countries are Greece, Croatia, Spain, Italy, Portugal, Slovenia, France, Iceland, Belgium, Switzerland and Luxembourg. For other European countries the advice against non-essential travel will still apply. A recommendation against travel […]

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Takeaway coffee and fitness classes return to UK inflation data as lockdown eases

LONDON () – Haircuts, holidays and a pint at the pub remain off limits but prices for takeaway coffees, muffins and fitness classes have returned to Britain’s inflation data, giving a picture of how the coronavirus lockdown is easing. FILE PHOTO: People observe social distancing rules outside Climpson & Sons coffee shop in Hackney, following […]

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Eight suspects arrested in S.Africa’s « biggest bank robbery » VBS fraud case

JOHANNESBURG () – South African authorities have apprehended eight people suspected of illegally siphoning 2.3 billion rand ($133.87 million) from small lender VBS Mutual Bank, which collapsed in 2018 because of the corruption scandal. Godfrey Lebeya, head of South Africa’s Directorate for Priority Crime Investigation, said four were already in custody, three were due to […]

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