Breakingviews – Fiat can’t wait forever for Renault to sort itself

LONDON (Reuters Breakingviews) – The collapsed 36 billion euro marriage of carmakers Renault and Fiat Chrysler Automobiles still makes a lot of sense. Yet that becomes less true with every day that passes. Fiat Chairman John Elkann withdrew his merger offer in June after the French state signalled it wanted Renault, in which it owns a 15% stake, to sort […]

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Window closing fast for WeWork parent to launch IPO this year

NEW YORK (Reuters) – WeWork owner The We Company faces strong headwinds in achieving its goal of launching an initial public offering (IPO) by the end of the year after postponing it this month, fund managers and capital markets professionals said. The U.S. office-sharing startup was getting ready to launch an investor road show for its IPO this week, before […]

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Explainer: The Fed has a repo problem. What's that?

(Reuters) – As if the U.S. Federal Reserve didn’t already have enough on its plate heading into its meeting on interest rates this week, chaos deep inside the plumbing of the U.S. financial system has thrown policymakers an unexpected curveball. Cash available to banks for their short-term funding needs all but dried up on Monday and Tuesday, and interest rates […]

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Wells Fargo tests cryptocurrency for internal transactions

(Reuters) – Wells Fargo & Co (WFC.N) said on Tuesday it will pilot its own digital currency powered by blockchain to help move cash across borders and between branches in real time. The currency, called Wells Fargo Digital Cash, will be linked to the U.S. dollar and transferred using the bank’s distributed ledger technology to keep track of payments within […]

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Benettons set to shake up Atlantia as bridge probe escalates: sources

MILAN (Reuters) – The Benetton family is set to replace the powerful head of Atlantia (ATL.MI) with a management board and co-opt a veteran right-hand man to help steer the infrastructure group through fallout from a deadly bridge collapse, three sources said. Giovanni Castellucci, who has been Atlantia chief executive since 2006, is expected to hand in his resignation at […]

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U.S., Chinese trade deputy talks to start on Thursday

WASHINGTON (Reuters) – Deputy-level U.S.-China trade talks are scheduled to start in Washington on Thursday, the U.S. Trade Representative’s office said, paving the way for high-level talks in October aimed at resolving a bitter, 14-month trade war. A USTR spokesman did not offer any further details about the deputy-level talks. Earlier on Monday, U.S. Chamber of Commerce Chief Executive Tom […]

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Trump orders two ex-White House aides not to testify at House hearing on Tuesday

WASHINGTON (Reuters) – President Donald Trump has ordered two former White House aides not to testify at a House of Representatives committee hearing on Tuesday as the panel considers whether to recommend impeaching Trump. Former White House Deputy Chief of Staff Rick Dearborn and former White House Staff Secretary Rob Porter were subpoenaed by the House Judiciary Committee to appear […]

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Democratic White House hopeful Warren rails against corruption at big N.Y. rally

NEW YORK (Reuters) – Democratic presidential candidate Elizabeth Warren on Monday denounced the corruption she argues has crippled the country’s politics and economy, drawing her largest crowd thus far in a sign of her campaign’s growing strength. “When you see a government that works great for those with money and connections, and doesn’t do much for anyone else, that’s corruption, […]

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US shares info with Saudi Arabia that blames Iran for oil field attack: report

President Trump to send Secretary of State Mike Pompeo to Saudi Arabia Trump was careful to not pin responsibility for the attack on the Saudi oil facilities on Iran; chief White House correspondent John Roberts reports. Iran was the staging ground for the weekend attacks on the massive Saudi Arabia oil field, according to U.S. intelligence that was shared with the kingdom, a […]

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Oil trims gains but Middle East risks keep stocks on back foot

TOKYO (Reuters) – Oil shed some of its massive gains on Tuesday as the United States flagged the possible release of crude reserves, but the threat of military action over the attacks on Saudi oil facilities kept prices elevated and stocks under pressure. While equity market losses have not been large, shaky investor confidence continued to support safe-haven assets, with […]

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