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Big U.S. exchanges to sue SEC over ‘overreaching’ fee experiment

NEW YORK (Reuters) – The three largest U.S. stock exchange operators said they will sue the Securities and Exchange Commission for overstepping its authority by ordering a pilot program to test banning lucrative payments exchanges make to brokers for resting stock orders. FILE PHOTO: The seal of the U.S. Securities and Exchange Commission hangs on […]

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Apollo to buy Cox TV stations in broadcast push

(Reuters) – Buyout firm Apollo Global Management LLC has agreed to acquire a majority stake in 14 television stations from privately held Cox Media Group, the company said on Friday, a move that sets up Apollo to become a player in broadcasting, an industry it has sought deals in for some time. While Apollo and […]

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U.S. Medicare plans to track CAR-T cancer therapy outcomes

(Reuters) – The U.S. Centers for Medicare & Medicaid Services (CMS) on Friday proposed coverage of expensive CAR-T cell therapies at cancer centers that meet criteria including an approved registry of patient results or clinical study to monitor patients for at least two years after treatment. New hospital payment terms from Medicare, the federal government […]

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U.S. mortgage delinquencies hit 18-year low in Q4 2018 -MBA

NEW YORK, Feb 15 (Reuters) – The number of U.S. homeowners who fell behind on their mortgage payments dropped to the lowest levels in 18 years in the final quarter of 2018, the Mortgage Bankers Association said on Friday. On the other hand, the number of homeowners who saw their loans go into foreclosure rose […]

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Europe vote will decide if Italy stays in EU: League lawmaker

MILAN (Reuters) – Italy should leave the European Union unless there is a decisive shift toward populist parties in European Parliament elections in May, according to a prominent member of the far-right League party, part of the country’s two-party ruling coalition. Italian government bond yields jumped on Claudio Borghi’s comments, which revived concerns about Rome’s […]

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RPT-UPDATE 2-Private equity firms win over Scout24 with improved $6.4 bln bid

(Repeats to add links to graphic and Breakingviews related content; no change to text) * Hellman & Friedman, Blackstone offer 46 euros per share * Scout24 supports transaction * Minimum acceptance threshold of 50 percent plus one share By Arno Schuetze and Douglas Busvine FRANKFURT, Feb 15 (Reuters) – Hellman & Friedman and Blackstone have […]

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Trading platform Plus500 confirms accounting error in prior-year results

(Reuters) – Online trading platform Plus500 Ltd confirmed on Friday a drafting error in its 2017 report resulted in the company failing to disclose certain losses from customer trading. In its full-year results this week, it reported a gain from customer trading of $172 million for the year. This was compared with a loss of […]

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Russia detains prominent U.S. investor on suspicion of fraud

MOSCOW (Reuters) – Michael Calvey, the U.S. founder of one of Russia’s biggest private equity firms, denied allegations of fraud in a Moscow court on Friday but a judge ordered him to be detained for 72 hours, a move that could raise concerns among foreign investors. Founder of the Baring Vostok private equity group Michael […]

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UPDATE 3-FTSE 100 rallies as trade talks progress; share sale hits Standard Life

* FTSE 100 up 0.6 pct * FTSE 250 up 0.1 pct * Standard Life Aberdeen falls on discounted share offer * Plus500 slips, discloses “drafting error” in 2017 accounts (Adds company news item, updates to closing prices) By Muvija M and Shashwat Awasthi Feb 15 (Reuters) – Britain’s FTSE 100 rose for a fifth […]

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Newell shares plunge as Toys ‘R’ Us liquidation, strong dollar weigh on forecast

(Reuters) – Newell Brands Inc on Friday forecast lower-than-expected full-year sales and profit, hit by a strong dollar, higher costs and sluggish sales of its Graco baby products in the aftermath of the liquidation of Toys ‘R’ Us, sending its shares down nearly 19 percent. Large U.S. consumer goods makers like Newell, which sell products […]

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NBA, U.S. Tennis, Sky, urge U.S. action on alleged Saudi TV piracy

DOHA, Feb 15 (Reuters) – A group of sports bodies and broadcasters including the U.S. National Basketball Association, U.S. Tennis Association and Sky has called for the United States to add Saudi Arabia to its “priority watch list” over alleged TV piracy, filings show. The filings, made this week with the Office of the United […]

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UPDATE 1-Russia’s RDIF, Germany’s Siemens sign deal on $4.5 bln rail link

(Edits, updates with Siemens comment) MOSCOW, Feb 15 (Reuters) – Russia’s RDIF sovereign wealth fund and a unit of Germany’s Siemens signed an agreement on working together on a 300 billion rouble ($4.5 billion) high-speed rail link between the Russian cities of Chelyabinsk and Yekaterinburg, RDIF said on Friday. The deal was signed by RDIF […]

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Thomas Cook enlists three banks to prepare airline sale: source

FILE PHOTO: A Thomas Cook Airbus A321-200 airplane takes off at the airport in Palma de Mallorca, Spain, July 28, 2018. REUTERS/Paul Hanna/File Photo LONDON (Reuters) – Thomas Cook has enlisted Credit Suisse, Morgan Stanley and Bank of America Merrill Lynch to explore the possible sale of its airline business, a source familiar with the […]

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London bankers will need ‘chaperones’ for EU clients under no-deal Brexit: sources

LONDON (Reuters) – Investment banks have warned M&A teams in Britain they cannot pitch business to clients in the European Union if there is a no-deal Brexit without an EU “chaperone” sitting in on their meeting, sources familiar with the matter told Reuters. FILE PHOTO: A man walks past The Gherkin and other office buildings […]

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Amazon places big bet on aspiring Tesla rival Rivian

DETROIT/SAN FRANCISCO (Reuters) – Amazon.com Inc said on Friday it would lead a $700 million investment in U.S. electric pickup truck startup Rivian Automotive LLC, in the e-commerce giant’s biggest bet on technologies with potential to reshape the automotive sector. FILE PHOTO: Rivian introduces R1T all-electric pickup truck at Los Angeles Auto Show in Los […]

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UPDATE 2-Bank stocks, Italy bonds rally as ECB’s Coeure paves way for new cash boost for banks

(Updates price action, adds chart) By Dhara Ranasinghe and Virginia Furness LONDON, Feb 15 (Reuters) – Euro zone banking shares jumped over three percent, the euro fell and Italy’s bond yields tumbled on Friday after the European Central Bank’s Benoit Coeure said a new round of cheap multi-year loans to banks was possible. Weak economic […]

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Alphabet unit wants share of property taxes for Toronto smart city: report

FILE PHOTO: Daniel Doctoroff, Chief Executive Officer of Sidewalk Labs, poses for a portrait in Toronto, Ontario, Canada, April 6, 2018. REUTERS/Carlo Allegri TORONTO (Reuters) – Alphabet Inc’s Sidewalk Labs unit is seeking a share of property taxes, development fees, and the rising value of Toronto city land as part of a deal to build […]

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Australian companies ‘significantly exposed’ to slavery risk: investors

SYDNEY (Thomson Reuters Foundation) – Australian companies are “significantly exposed” to modern slavery in their supply chains, with sectors ranging from finance and mining to healthcare most at risk, an influential group representing some of the country’s biggest investors said. Australia last month became only the second country in the world to bring in an […]

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Standard Life Aberdeen preps for job cuts: sources

LONDON/EDINBURGH (Reuters) – Standard Life Aberdeen (SLA.L) (SLA) plans a fresh round of job cuts in the coming weeks as part of a broader cost overhaul aimed at shoring up investor confidence after a year of heavy outflows of client cash, four sources told Reuters. Britain’s biggest standalone asset manager saw more than 20 billion […]

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Hundreds of Chinese protest against BBVA in Madrid

MADRID (Reuters) – Hundreds of Chinese citizens waving Spanish and Chinese flags took to the streets of Madrid on Friday to protest against BBVA, saying the bank had blocked their accounts. Chinese customers of Spanish bank BBVA protest outside its headquarters in Madrid, Spain February 15, 2019. The signs read “The workers have not been […]