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Key U.S. interest rate breaks critical level before Fed move

NEW YORK (Reuters) – The U.S. Federal Reserve’s key interest rate broke above a critical level for the first time on Wednesday, according to newly released data, which may raise alarm about the central bank’s effectiveness in controlling short-term rates if the rate increases further. FILE PHOTO: A man passes by the corner stone on […]

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UPDATE 2-FTSE 100 at 5-1/2-mnth high as no-deal Brexit fears hit pound

* FTSE 100 up 0.9 pct * FTSE 250 down 0.2 pct * Exporter stocks boosted by weak pound * Miners, oil stocks also among top boosts * Next sheds early losses to end up after results * Renishaw, IG Group slip after results (Adds company news items, updates closing prices throughout) By Shashwat Awasthi […]

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Fund managers skittish over Levi’s long-term growth prospects

NEW YORK (Reuters) – Levi Strauss & Co’s is betting it can convince investors there is still plenty of global growth left for the 165-year old company, but fund managers fret the iconic blue jeans maker’s stock may be too pricey to generate a decent return. The San Francisco-based company returned to the public markets […]

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German conservatives eye sanctions for EU debt ceiling violators

BERLIN (Reuters) – German conservatives aim to tighten enforcement of the European Union’s debt ceiling target, under which public debt amounts to no more than 60 percent of national output, according to the political bloc’s draft program for European elections. Chancellor Angela Merkel’s Christian Democratic Union (CDU) and its CSU Bavarian sister party pledged in […]

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UPDATE 2-Temer’s arrest piles political pressure on Brazilian markets

(Adds comment, context, updates prices) By Jamie McGeever and Gabriela Mello BRASILIA/SAO PAULO, March 21 (Reuters) – Brazilian financial markets tumbled on Thursday as investors feared former President Michel Temer’s arrest on graft charges will slow proposed pension reform seen as critical to injecting life into a tepid economic recovery. Temer, who left office at […]

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Bank of England to set new rules on climate risk -Carney

LONDON, March 21 (Reuters) – The Bank of England will soon spell out how it wants banks, insurers and investment companies to manage the financial risks from climate change, Governor Mark Carney said on Thursday. The central bank under Carney has been vocal in highlighting climate change’s potential impact on the financial sector, such as […]

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Wells Fargo in talks with ex-Goldman exec Schwartz to be next CEO: NY Post

FILE PHOTO: A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith (Reuters) – Wells Fargo & Co’s board is in talks with Harvey Schwartz, the former president and co-chief operating officer of Goldman Sachs Group Inc, to take over as the bank’s chief executive, the New York Post […]

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EU agrees watered-down reform of finance supervision

BRUSSELS, March 21 (Reuters) – European Union governments and lawmakers agreed on Thursday a watered-down reform of the bloc’s financial supervisors that will slightly strengthen the EU watchdogs but will leave large powers in the hands of national authorities. The plan, initially proposed by the EU executive Commission in 2017, was meant to beef up […]

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Sovereign funds place record venture capital bets in 2018 -report

LONDON, March 21 (Reuters) – Sovereign wealth funds invested a record amount in venture capital last year, a report said on Thursday, as they seek early exposure to the next Airbnb, Uber or Ant Financial. There were 84 sovereign wealth fund deals in 77 different venture capital rounds in 2018, the report by IE University […]

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EU offers Brexit delay until May 22 – draft statement

BRUSSELS, March 21 (Reuters) – The European Union will agree to hand Britain a Brexit delay until May 22 if its parliament approves the divorce agreement next week, according to draft conclusions considered by the other 27 national leaders on Thursday. “The European Union commits to agreeing, before March 29 2019, to an extension until […]

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Rising no-deal Brexit fears pile pressure on pound

LONDON (Reuters) – The pound plunged on Thursday and was heading for its biggest one-day fall this year on growing fears of a “no-deal” Brexit should British lawmakers hold firm in their rejection of Prime Minister Theresa May’s EU divorce deal. FILE PHOTO: New one pound coins, which come into circulation today, are seen in […]

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Hezbollah sanctions harming Lebanon, says President Aoun

BEIRUT (Reuters) – U.S. sanctions on Hezbollah are harming Lebanon as a whole, President Michel Aoun said on Thursday ahead of a visit to the country by U.S. Secretary of State Mike Pompeo. FILE PHOTO: Lebanon President Michel Aoun addresses the European Parliament in Strasbourg, France, September 11, 2018. REUTERS/Vincent Kessler/File Photo The United States […]

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Levi Strauss shares surge 31 percent in stock market return

(Reuters) – Shares in Levi Strauss & Co surged 31 percent in their debut on Thursday, giving the jeans maker a market value of $8.7 billion and suggesting strong investor appetite before much-awaited listings from Lyft and Uber. The 165-year-old U.S. company’s return to the public market comes at a time when stocks are near […]

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Wells Fargo in talks with ex-Goldman exec Schwartz to be its next CEO: New York Post

FILE PHOTO: A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith (Reuters) – Wells Fargo’s board is in talks with Harvey Schwartz, the former president and co-chief operating officer of Goldman Sachs, to take over as the bank’s next chief executive, the New York Post reported on Thursday, […]

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Hungary to buy 2020 gas supplies early from Russia – minister

BUDAPEST, March 21 (Reuters) – Hungary has struck an agreement with Gazprom to buy and store its 2020 gas supplies earlier than usual this year to offset the risk of Russia failing to agree transit terms with Ukraine, state news agency MTI reported on Thursday. Hungarian Foreign Minister Peter Szijjarto told MTI after meeting Gazprom […]

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Spain’s Bankia sticks to 1.3 billion euro profit target for 2020

FILE PHOTO: Spain’s Bankia logo is seen inside bank’s headquarters before a news conference to present their annual results in Madrid, Spain, January 30, 2017. REUTERS/Sergio Perez VALENCIA, Spain (Reuters) – State-owned Spanish lender Bankia will meet its net profit target of 1.3 billion euros ($1.48 billion) in 2020 despite low interest rates, its chairman […]

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UPDATE 2-Russia issues new dollar Eurobond, tops up euro issue -source

(Adds fresh yield, demand levels, detail) MOSCOW, March 21 (Reuters) – Russia was selling Eurobonds in dollars and euros on Thursday, a financial market source said, capitalising on favourable market conditions and an increased investor appetite for risky assets. The source said Russia was offering up to $3 billion of a new dollar-denominated Eurobond maturing […]

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UK watchdog leaves options open after Brexit trading spat with EU

LONDON (Reuters) – British and European Union market regulators should look beyond public sparring this week over share trading to the “bigger picture” of future relations after Brexit, a senior British regulator said on Thursday. FILE PHOTO: A river boat cruises down the River Thames as the sun sets behind the Canary Wharf financial district […]

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UPDATE 1-Sudan’s Bashir bans hoarding of Sudanese pounds, protests flare

(Adds protests, details, background) By Khalid Abdelaziz KHARTOUM, March 21 (Reuters) – Sudan’s President Omar al-Bashir banned hoarding of the Sudanese pound and “speculation” on the currency, a presidency statement said on Thursday, as anti-government protesters again clashed with security forces in several cities. Bashir has faced three months of persistent protests calling on him […]

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No-deal Brexit fears send pound to a one-week low

LONDON (Reuters) – The pound extended losses on Thursday and derivatives markets signalled more weakness as fears grow of a catastrophic “no-deal” Brexit should lawmakers hold firm in their rejection of Prime Minister Theresa May’s divorce deal with the EU. FILE PHOTO: New one pound coins, which come into circulation today, are seen in London, […]