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UPDATE 1-Hong Kong lawmakers walkout over media ‘persecution’ at city leader’s policy address

(Adds details, background) By James Pomfret HONG KONG, Oct 10 (Reuters) – Hong Kong lawmakers demonstrated on Wednesday in support of media freedoms following Hong Kong’s rejection of a work visa for a senior British journalist, as city leader Carrie Lam was about to give her annual policy address. Chanting “Protect media freedoms” and holding […]

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Sears hires advisers for bankruptcy filing ahead of debt payment: WSJ

(Reuters) – Debt-laden retailer Sears Holdings Corp (SHLD.O) has hired advisers to prepare for a possible bankruptcy that could come ahead of a debt payment due next week, the Wall Street Journal reported on Tuesday, citing sources. FILE PHOTO: A Sears department store is seen in Austin, Texas, U.S., January 5, 2017. REUTERS/Mohammad Khursheed M-III […]

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Vinfast, set to be Vietnam’s first domestic carmaker, gains $950 mln credit line

HANOI, Oct 10 (Reuters) – VinFast, which aims to become Vietnam’s first domestic car manufacturer, said it has secured a 12-year credit facility for as much as $950 million to help buy machinery and equipment from German suppliers. The company, a unit of Vietnam’s largest conglomerate Vingroup JSC, plans to have its first production models […]

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SoftBank in talks to take majority stake in WeWork: source

SAN FRANCISCO/NEW YORK (Reuters) – Japan’s SoftBank Group Corp (9984.T) is in discussions to take a majority stake in shared office space provider WeWork Cos, a source familiar with the matter said, a deal that would increase one of its biggest bets on a late-stage U.S. startup. FILE PHOTO: An employee works behind a logo […]

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Sears hires M-III Partners for bankruptcy filing: WSJ

(Reuters) – Sears Holdings Corp (SHLD.O) has hired M-III Partners LLC to prepare a bankruptcy filing that could come ahead of next week’s debt payment, the Wall street Journal reported on Tuesday, citing people familiar with the situation. FILE PHOTO: A Sears department store is seen in Austin, Texas, U.S., January 5, 2017. REUTERS/Mohammad Khursheed […]

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Global debt is growing, IMF says, but so are values of public assets

NUSA DUA, Indonesia (Reuters) – Global debt levels reached a record $182 trillion in 2017, having grown 50 percent in the previous decade, but the picture looks less grim when public assets are taken into account, the International Monetary Fund said on Wednesday. The IMF said a new data base in its semi-annual Fiscal Monitor […]

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Australia shares flat as banks weigh; NZ falls

* Australia shares flat; healthcare offsets bank losses * Financials down ahead of committee hearing * NZ falls to near two-month low By Aditya Soni Oct 10 (Reuters) – Australian shares were relatively flat on Wednesday as gains in healthcare offset losses in financials a day before a parliamentary committee begins grilling bank executives over […]

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CORRECTED-Michael likely to be near Category 4 hurricane strength at Florida landfall -NHC

(Corrects paragraph 2 to 120 miles per hour (195 km per hour) instead of 120 km per hour (195 miles per hour)) Oct 9 (Reuters) – Hurricane Michael is expected to be near category 4 strength when it makes landfall in the Florida Panhandle or the Florida Big Bend Area, the U.S. National Hurricane Center […]

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Australian tuition provider Navitas gets $1.4 billion takeover offer

SYDNEY (Reuters) – Australian education provider Navitas Ltd (NVT.AX) said on Wednesday it had received a A$1.97 billion ($1.4 billion) takeover bid from an Australian private equity firm and the company’s co-founder, sending its shares 20 percent higher. The offer for the nation’s largest listed private education company was 26.4 percent higher than Tuesday’s closing […]

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Australia’s CBA hit with lawsuit over pension investments

SYDNEY (Reuters) – Law firm Slater & Gordon Ltd has filed a class-action suit against Commonwealth Bank of Australia seeking damages of more than A$100 million ($71 million) after the bank allegedly invested the retirement savings of thousands of customers into low, uncompetitive interest-returning products. FILE PHOTO: A man walks past a branch of the […]

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Global financial stability risks rising with trade tensions, IMF says

(Reuters) – Risks to the global financial system have risen over the past six months and could increase sharply if pressures in emerging markets escalate or global trade relations deteriorate further, the International Monetary Fund said on Wednesday. International Monetary Fund (IMF) Managing Director Christine Lagarde gestures as she talks about Women’s Empowerment in Workplace […]

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RPT-COLUMN-Bad years for US Treasuries don’t mean bad years for markets: McGeever

LONDON, Oct 9 (Reuters) – It’s a rare year when total returns on U.S. Treasuries are negative, but when they are, the ripple effect on global markets is potent. Stocks, credit, high yield and emerging markets, in particular, suffer as investors bail out of the world’s safest and most liquid asset, pushing up the cost […]

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Australia consumer sentiment bounces modestly in Oct-survey

SYDNEY, Oct 10 (Reuters) – A measure of Australian consumer confidence bounced only modestly in October following two months of steep losses with falling home prices one likely drag, a survey showed on Wednesday. The Melbourne Institute and Westpac Bank index of consumer sentiment rose 1.0 percent in October, from the previous month. Sentiment dropped […]

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China approves 17 anti-cancer drugs for medical insurance coverage

SHANGHAI, Oct 10 (Reuters) – China has approved 17 anti-cancer drugs for inclusion in its national health insurance system, the government said on Wednesday, part of its efforts to make cancer treatment more affordable as the number of cases increases. China’s State Medical Insurance Administration has been in negotiations with domestic and overseas pharmaceutical companies […]

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Ackman’s Pershing Square unveils $900 million stake in Starbucks

NEW YORK (Reuters) – William Ackman said on Tuesday his activist hedge fund Pershing Square Capital Management LP has built a roughly $900 million position in Starbucks Corp (SBUX.O), betting the world’s biggest coffee chain can overcome stagnant sales in its home market. Ackman’s unveiling of a 1.1 percent stake in Starbucks comes as the […]

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Argentine peso extends rally; central bank debt a worry

BUENOS AIRES (Reuters) – Argentina’s currency extended its week-long rally on Tuesday and investors swarmed over peso-denominated debt offered by the central bank at nose-bleed-high interest rates, even as economists voiced concern over the bank’s growing indebtedness. FILE PHOTO: A man shows Argentine pesos outside a bank in Buenos Aires’ financial district, Argentina August 30, […]

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Trian Fund takes 2.6 percent stake in PPG Industries: WSJ

(Reuters) – Nelson Peltz’s hedge fund Trian Fund Management has taken a stake of 2.9 percent stake valued at $690 million in paints and coatings maker PPG Industries, the Wall Street Journal reported here, citing a person briefed on the matter. Nelson Peltz founding partner of Trian Fund Management LP. speak at the WSJD Live […]

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Australia shares to open unchanged; NZ flat

Oct 10 (Reuters) – Australian shares are expected to open flat on Wednesday, following two sessions of heavy losses, with materials sector stocks likely to dominate gains on higher commodities prices. Chinese iron ore futures jumped about 3 percent on Tuesday, while Copper on the London Metal Exchange closed up 1.8 percent. The local share […]

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UPDATE 1-Trump says he would consider former adviser Dina Powell for UN

(Adds background on Powell) WASHINGTON, Oct 9 (Reuters) – U.S. President Donald Trump on Tuesday said he would consider selecting Goldman Sachs executive and former White House adviser Dina Powell as the next U.S. ambassador to the United Nations, and he shot down speculation he would tap his daughter Ivanka for the post. Trump spoke […]

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UPDATE 3-Argentine peso extends rally; central bank debt a worry

(Clarifies reference to peso depreciation and value of US dollar reserves in paragraph 6) By Gabriel Burin BUENOS AIRES, Oct 9 (Reuters) – Argentina’s currency extended its week-long rally on Tuesday and investors swarmed over peso-denominated debt offered by the central bank at nose-bleed-high interest rates, even as economists voiced concern over the bank’s growing […]