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Italian cabinet infighting overshadows growth plan

ROME (Reuters) – Italy’s government approved an economic growth plan in the early hours of Wednesday after a bad-tempered cabinet meeting that exposed divisions in the ruling coalition and fueled speculation of a government collapse. The infighting overshadowed media coverage of the “growth decree” which called for tax breaks and investment incentives and for simplified […]

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Britain starts search for next Bank of England governor

LONDON (Reuters) – Britain’s finance minister Philip Hammond said on Wednesday he was starting the process of finding a replacement for Mark Carney as governor of the Bank of England. FILE PHOTO: Workers emerge from Bank underground station with the Bank of England (L) and Royal Exchange building (R) in the City of London financial […]

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SAP sets new mid-term margin targets after first-quarter operating loss

FRANKFURT (Reuters) – German business software company SAP set ambitious new mid-term targets on Wednesday to boost profit margins as it reported a first-quarter operating loss that chiefly resulted from a restructuring charge. FILE PHOTO: SAP logo at SAP headquarters in Walldorf, Germany, January 24, 2017. REUTERS/Ralph Orlowski/File Photo SAP, Europe’s most valuable technology company, […]

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China central bank injects 267 billion yuan in targeted loans as broader easing appears on hold

SHANGHAI (Reuters) – China’s central bank extended 267.4 billion yuan ($39.8 billion) to some commercial banks on Wednesday via its targeted medium-term lending facility (TMLF) as it looks to provide struggling smaller business with a steady stream of affordable financing. The move suggests the People’s Bank of China (PBOC) is now leaning more on targeted […]

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Japan’s Daido Life to raise foreign bond holdings, eyes euro debt

TOKYO (Reuters) – Japan’s Daido Life Insurance plans to increase foreign bond holdings in the current financial year through March next year, a senior executive said on Wednesday. Within foreign bonds, Daido mainly looks to step up holdings of European bonds outside of Germany and France, Kenya Takahashi, general manager of the firm’s investment planning […]

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Credit Suisse unexpectedly boosts first-quarter earnings

FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva, Switzerland, October 17, 2017. REUTERS/Denis Balibouse/File Photo ZURICH (Reuters) – Credit Suisse boosted first-quarter net profit nearly 8 percent to 749 million Swiss francs ($734 million) as larger-than-expected wealth management gains offset investment banking declines. Analysts polled by Infront Data had expected […]

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Australian retail shareholder group says to vote against AMP pay proposals

SYDNEY (Reuters) – Australia’s most prominent retail shareholder group said on Wednesday it will vote against AMP Ltd’s executive pay proposals for a second straight year, adding to pressure on the board of the country’s largest listed wealth manager. FILE PHOTO: The logo of AMP Ltd, Australia’s biggest retail wealth manager, adorns their head office […]

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China’s historic city of Xian cuts financing for home buyers to curb speculation

BEIJING (Reuters) – The historic Chinese city of Xian, an emerging tech hub, said it will pare back financing for home purchases as it unveils fresh curbs to contain speculation in its property market. The capital of northwestern Shaanxi province has been one of the hottest property markets among China’s major cities. Real estate prices […]

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China stocks fall as cenbank may likely hold broad monetary easing

SHANGHAI, April 24 (Reuters) – China stocks fell on Wednesday morning, amid new signs the central bank is putting on hold broad policy easing measures, dashing hopes for fresh large-scale liquidity pumps into the financial system. ** Hong Kong stocks also fell, despite Wall Street hitting fresh closing highs. ** The CSI300 index fell 0.9 […]

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Tencent-backed China online healthcare venture raises $250 million

BEIJING (Reuters) – China’s Tencent Trusted Doctor, a venture backed by tech giant Tencent Holdings, said it has raised $250 million in a fundraising round, as investors pile into China’s online private healthcare sector. The fundraising marked the first investment since the entity was formed through a merger of Tencent Doctorwork and Trusted Doctors last […]

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SE Asia Stocks-Most rise as Wall Street gains brew optimism

* Vietnam leads gains * Indonesia dips on profit-taking in major sectors By Ambar Warrick April 24 (Reuters) – Most Southeast Asian stock markets rose on Wednesday as a swathe of strong U.S. corporate earnings perked up risk appetite and spread positive sentiment across Asia. Asian stock markets tracked record highs on Wall Street as […]

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Australia shares race to 11-year high on rate cut expectations, NZ up

* NZ shares at record high * Inflation figure boosts Aussie benchmark * Aussie dollar drops 0.9 pct in the wake of CPI data (Updates milestones, price action, recasts, adds inflation data) By Mensholong Lepcha April 24 (Reuters) – Australian shares rose to a more than 11-year peak on Wednesday after data showed inflation slowed […]

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RPT-Malaysia says it is keen for more ‘fair’ deals with China

(Repeats story published on Tuesday with no changes to text) KUALA LUMPUR, April 23 (Reuters) – Malaysia is hopeful of getting more “fair” investment from China, its foreign minister said on Tuesday, after both countries agreed to resume two multi-billion dollar projects just before a Belt and Road conference in Beijing this week. Malaysian Prime […]

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South Korea proposes $5.9 billion extra budget to fight air pollution, aid exports

SEJONG, South Korea (Reuters) – South Korea on Wednesday unveiled a proposed 6.7 trillion won ($5.87 billion) supplementary budget the government says is needed to tackle unprecedented air pollution levels and boost exports bruised by weak demand. FILE PHOTO: Cho Eun-hye (R) and her one-and-a-half-year-old Korean Jindo dog Hari, both wearing masks, go for a […]

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SoftBank Group looks to buy 5 pct of payment firm Wirecard: Bloomberg

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato (Reuters) – Japan’s SoftBank Group Corp is looking to acquire a 5 percent stake in German payments company Wirecard AG, Bloomberg reported on Tuesday, citing people familiar with the matter. SoftBank has […]

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Related to buy AT&T’s WarnerMedia headquarters for $2.2 billion

FILE PHOTO: The Hudson Yards development, a residential, commercial, and retail space on Manhattan’s West side, during the grand opening in New York City, New York, U.S., March 15, 2019. REUTERS/Brendan McDermid/File Photo NEW YORK (Reuters) – Developer Related Companies said on Tuesday one of its affiliates has agreed to buy the global headquarters of […]

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Australia shares hover at 8-month high, NZ at record peak

* NZ shares at record high * Aussie dollar weakens ahead of inflation report * Gold and mining stocks down; CSL up 2.5 pct By Nikhil Nainan April 24 (Reuters) – Australian shares were firmly perched at an eight-month high on Wednesday, supported by a strong performance on Wall Street, while a weaker Aussie dollar […]

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RPT-COLUMN-Oil traders to Saudi Arabia: show us the barrels – Kemp

(Repeats April 23 column with no changes. John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2ID8R9J By John Kemp LONDON, April 23 (Reuters) – “The United States, Saudi Arabia and the United Arab Emirates … are committed to ensuring that global oil markets remain adequately supplied,” the White […]

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South Korea proposes $5.9 billion fiscal stimulus to tackle air pollution, aid exports

SEJONG, South Korea (Reuters) – South Korea announced a proposed 6.7 trillion won ($5.87 billion) supplementary budget on Wednesday to tackle unprecedented air pollution levels and to boost exports bruised by weak external demand amid the Sino-U.S. trade war. FILE PHOTO: Cho Eun-hye (R) and her one-and-a-half-year-old Korean Jindo dog Hari, both wearing masks, go […]

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China says will guarantee pensions amid warnings of funds drying up

SHANGHAI (Reuters) – China will “fully guarantee” future pension payments, a government official told reporters, amid warnings from government researchers that funds could run out by 2035. China’s social security system is under increasing strain as a result of a rapidly ageing population and a shrinking workforce. The China Academy of Social Sciences (CASS), a […]