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The pound at 7.45am on Thursday was 1.31 dollars, while the euro was 0.85 pounds. Sterling also fell 0.2 per cent on Wednesday as traders assessed the risk of a hard Brexit at the end of the year, with political news expected to take precedence over economic data. But the pound has steadied ahead of the Bank of England rates decision. At […]
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Having grown swiftly since the acquisition of Flipkart by Walmart in 2018, it was looking at a valuation of $10 billion. However, factors such as lack of diversification, new e-commerce and data policies, as well as the overall investment environment, have slowed the process. Digital payments firm PhonePe, which was out in the market for a large funding round, now […]
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Asian stock markets are mostly higher on Tuesday following the record highs overnight on Wall Street and as investor sentiment improved after the U.S. removed China from a list of currency manipulators ahead of the signing of a phase one trade deal between the two countries on Wednesday. Chinese Vice Premier Liu He is scheduled to visit Washington to sign […]
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London (CNN Business)If you’re born in the United States, having wealthy parents matters a great deal to your chances of success, according to a new report. Individuals born into poorer families have a better chance of owning a home, getting a good education and experiencing a better life than their parents if they are born in Canada than if they […]
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Hong Kong (CNN Business)Attorneys for Huawei’s chief financial officer want a Canadian court to halt her extradition case based on what they claim was misconduct by US and Canadian authorities. That argument was detailed in court documents released Tuesday in Vancouver, where Meng Wanzhou is awaiting a hearing on her possible extradition to the United States. Meng was detained in […]
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PARIS (Reuters) – JPMorgan Chase & Co (JPM.N) is the latest investment bank to significantly expand its Paris hub as part of plans to relocate some services from London after Britain’s exit from the European Union, snapping up new premises in the French capital. JPMorgan would have said “No” to a Paris move back in 2016, its French executive told […]
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LONDON (Reuters) – The BBC’s most powerful man will step down in six months to allow a new person to lead negotiations with Prime Minister Boris Johnson’s government over a financing model for the publicly funded broadcaster. Director General Tony Hall said he would leave in the summer after seven years at the helm of Britain’s biggest news provider, its […]
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Oscar-winning director of An Inconvenient Truth Davis Guggenheim and former Participant exec Jonathan King have teamed with Laurene Powell Jobs and Emerson Collective to launch Concordia Studio. The new company will focus on creating innovative nonfiction and scripted films, series, and streaming content. The new venture will develop, produce or finance content across all platforms with some of the most creative […]
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Davos, Switzerland (CNN Business)The global economy is expected to pick up this year — but the International Monetary Fund is less optimistic about the recovery than it was a few months ago. The group said Monday that weaknesses in emerging markets, such as India, and growing social unrest had caused it to downgrade its forecast for economic growth in 2020. […]
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One of Britain’s oldest department store chains is poised to fall into administration early this week amid ongoing efforts to find a buyer. Sky News has learnt that Beales is to hold a board meeting on Monday that will pave the way for KPMG to be appointed as administrator to the business. It would put 1300 full-time jobs at risk […]
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