Finance

Finance

Eurex senses Brexit momentum in euro clearing battle with London

February 26, 2020 By Huw Jones LONDON (Reuters) – Brexit and other tailwinds will help Frankfurt build stronger momentum this year to attract more euro clearing from London without the need for extra customer sweeteners, a senior Deutsche Boerse Group official has said. Even before Britain’s departure from the European Union last month, EU policymakers […]

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Finance

KLM airlines to make budget cuts due to coronavirus

February 26, 2020 AMSTERDAM (Reuters) – KLM, the Dutch arm of Air France KLM , joined Germany’s Lufthansa on Wednesday in taking budget cuts in response to a slowdown in business resulting from the coronavirus outbreak. KLM’s cuts will impact non-critical investments such as new IT and real estate projects and advertising, Dutch media reported, […]

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Finance

London stocks in slow lane as cliff-edge fears rise again: Reuters poll

February 26, 2020 LONDON (Reuters) – London’s blue-chip stocks are set to gain modestly this year although the outlook is colored by the British government’s determination to stick to the end-December deadline for a trade deal with the European Union, a Reuters poll found. Prime Minister Boris Johnson’s insistence that he will not extend the […]

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Finance

Moody’s cuts 2020 global auto sales outlook on coronavirus hit

February 26, 2020 (Reuters) – Credit ratings agency Moody’s Investor Service on Wednesday cut its 2020 outlook for global auto sales, with China taking the biggest hit as the coronavirus outbreak worsens. The agency said https://www.moodys.com/research/Moodys-Global-automakers-sales-forecast-slashed-as-coronavirus-impact-deepens–PBC_1216174?amp;WT.mc_id=AM~UmV1dGVyc05ld3NfQU1QU19OWTZfU0JfTlJfQ1ZfUmF0aW5nX05ld3NfQWxs~20200226_PBC_1216174 it expects global auto sales to fall 2.5% in 2020, lower than its previous estimate of about 0.9% drop. […]

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Finance

New Chinese billionaires outpace U.S. by 3 to 1: Hurun

February 26, 2020 BEIJING (Reuters) – China minted three times as many new billionaires than the United States in the past year, with fortunes made in drugs and online entertainment after a mini-boom from the coronavirus outbreak, a ranking of the world’s wealthiest people shows. The Greater China region, including Hong Kong and Taiwan, created […]

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Finance

China’s economic recovery accelerating, Politburo says

February 26, 2020 BEIJING (Reuters) – China’s economic recovery is accelerating but the coronavirus outbreak situation in the epicenters of Hubei province and Wuhan is still dire, the ruling Communist Party’s Politburo said on Wednesday, state television reported. China cannot ignore the risks of a coronavirus epidemic resurgence in certain regions, the report added. (Reporting […]

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Blackstone to buy British student housing group iQ for $6 billion

February 26, 2020 (Reuters) – Goldman Sachs’ merchant banking unit and medical charity Wellcome Trust have agreed to sell https://www.iqstudentaccommodation.com/blackstone-acquire-iq the British student accommodation company iQ to Blackstone for 4.66 billion pounds ($6.06 billion), the companies said. Britain is the second largest market for purpose-built student accommodation outside of North America and rapid growth over […]

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German economy nears stagnation in first quarter with coronavirus outbreak

February 26, 2020 BERLIN (Reuters) – Germany’s economy is nearing stagnation in the first quarter due to the coronavirus outbreak, the DIW economic institute said on Wednesday, adding that German industry would be particularly hit if the virus continued to spread worldwide. DIW said Germany’s gross domestic product in the first quarter would grow by […]

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Bank of England ‘turbo-charges’ moves to ditch Libor

February 26, 2020 By Huw Jones LONDON (Reuters) – The Bank of England told banks on Wednesday to accelerate their efforts to ditch the Libor interest rate benchmark if they want to avoid facing more punitive terms when borrowing from the central bank. The BoE wants Libor, which banks were fined billions of pounds for […]

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Coronavirus stings world’s top honey makers with China beekeepers locked down

February 26, 2020 By Hallie Gu and Shivani Singh BEIJING (Reuters) – Beekeepers in China, the world’s top honey producer, are bracing for a bleak start to the key spring pollinating season as travel curbs aimed at containing a coronavirus outbreak keep them at home while their bees go without food for weeks. Jue, a […]

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