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Updated: 9 hours 30 min ago

UK readies emergency transport to bring in supplies in no-deal Brexit

Wed, 06/26/2019 - 22:45
The British government is drawing up plans to charter planes and ferries to ensure vital supplies such as medicines can be brought into the country if the government fails to secure a trade deal before leaving the European Union.

Foreign investment in Brexit-bound Britain slows again

Wed, 06/26/2019 - 22:40
The number of new foreign investment projects in Britain has fallen for the second year in a row, according to government figures published on Wednesday that added to other signs of nervousness about Brexit among investors.

Tangier port to become Mediterranean's largest

Wed, 06/26/2019 - 22:36
Morocco will open new terminals at its Tanger Med port on Thursday allowing it to surpass the largest ports in the Mediterranean Algeciras and Valencia, and driving further investment and manufacturing to the country.

Israel seeks Swiss help in overseas tax crackdown

Wed, 06/26/2019 - 22:28
Israel's finance ministry has sought help from Switzerland in identifying Israelis it believes have undeclared assets at Union Bancaire Privee (UBP) and Bank Julius Baer, Swiss government documents show.

Autonomy founder Lynch denies wrongdoing in HP fraud case

Wed, 06/26/2019 - 22:27
Mike Lynch, once hailed as Britain's answer to Bill Gates, denied all claims against him on Wednesday when he kicked off what is expected to be a month-long testimony in his multibillion-dollar fraud battle with Hewlett-Packard (HP).

Global chipmakers rally on Micron's upbeat results, Huawei shipments

Wed, 06/26/2019 - 22:24
Shares of chipmakers rose on Wednesday after Micron Technology Inc forecast a recovery in chip demand in the second half of the year, easing concerns that rising trade tensions would exacerbate a slump in the sector.

Vodafone set for EU go-ahead on Liberty Global deal: sources

Wed, 06/26/2019 - 22:17
Vodafone is set to secure EU antitrust approval for its $22 billion bid for Liberty Global's cable networks in Germany and central Europe after offering concessions in May, people familiar with the matter said on Wednesday.

Trump thinks dollar is too strong, blames Fed policy: official

Tue, 06/25/2019 - 23:15
President Donald Trump believes the U.S. dollar is too strong, and the euro is too weak, and feels the situation could be eased if the Federal Reserve lowered interest rates, a senior administration official said on Tuesday.

India plans to add 500 GW renewable energy by 2030: government

Tue, 06/25/2019 - 23:06
India plans to add 500 gigawatts (GW) of renewable energy to its electricity grid by 2030 in a bid to clean up air in its cities and lessen the rapidly growing economy's dependence on coal, the government said on Tuesday.

Powell says Fed is wrestling with whether to cut rates, insulated from politics

Tue, 06/25/2019 - 23:02
Federal Reserve Chairman Jerome Powell on Tuesday said the U.S. central bank is "insulated from short-term political pressures," as policymakers wrestle with whether to cut rates as President Donald Trump has demanded.

U.S. consumer confidence dives, trade tensions hurting economy

Tue, 06/25/2019 - 22:58
U.S. consumer confidence tumbled to a 21-month low in June as households grew a bit more pessimistic about business and labor market conditions amid concerns about a recent escalation in trade tensions between the United States and China.

Canada's pain Japan's gain, as Mitsubishi buys CRJ jet

Tue, 06/25/2019 - 22:53
Japan's Mitsubishi, which agreed on Tuesday to buy Bombardier's loss-making regional jet programme, plans to exploit the Canadian company's support network and global customer list to rejuvenate its delayed efforts to conquer the jet market.

Ex-UBS compliance officer convicted in London insider dealing case

Tue, 06/25/2019 - 22:49
A former UBS compliance officer and her day-trader friend were found guilty of insider dealing by a London jury on Tuesday, marking a success for Britain's Financial Conduct Authority (FCA) after a two-month trial.

European watchdogs demand detail on Facebook's cryptocurrency

Tue, 06/25/2019 - 22:49
Facebook's fledgling cryptocurrency faced mounting scrutiny on Tuesday as European central bankers and regulators demanded more detail on the social media giant's Libra project.

U.S. launches economic formula for Middle East peace, Palestinians unhappy

Tue, 06/25/2019 - 22:47
The Trump administration launched a $50 billion economic formula for Israeli-Palestinian peace on Tuesday, saying an investment-driven pathway forward for the Palestinians was a necessary precondition for ending the decades-old conflict.

PG&E bondholders propose bankruptcy reorganization plan worth up to $30 billion

Tue, 06/25/2019 - 22:41
A committee of bondholders of PG&E Corp's utility unit on Tuesday proposed a bankruptcy reorganization plan that would inject up to $30 billion, primarily equity, to help the California power provider emerge from Chapter 11 and address its liability from wildfires.

Fed's Bullard says he doesn't see need for half-point rate cut: Bloomberg interview

Tue, 06/25/2019 - 22:40
St. Louis Federal Reserve Bank President James Bullard said on Tuesday he does not think the U.S. central bank needs to cut interest rates by a half-percentage point at its next meeting in July, even though he pushed to lower rates last week.

Canada, U.S. gain as India cuts dependence on Australian coking coal

Tue, 06/25/2019 - 22:37
Shipments of coking coal from the United States and Canada rose to a sixth of all Indian imports of the fuel during the year ended March 2019, as steelmakers in the coal guzzling country look to cut their dependence on Australia.

Pompeo faces thorny issues on India visit, from trade to Russia arms deals

Tue, 06/25/2019 - 22:26
U.S. Secretary of State Mike Pompeo arrived on Tuesday for talks with Indian leaders in New Delhi, where he is expected to tackle a host of delicate issues from trade to India's longstanding defence and energy ties to Russia and Iran.

Porsche recalls 340,000 cars due to parking problem

Tue, 06/25/2019 - 22:23
Volkswagen's sports-car brand Porsche has to recall almost 340,000 Cayenne and Panamera vehicles due to problems with their automatic transmission, the German company said on Tuesday.