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Friday, Jun 22

23

Oil jumps as OPEC agrees to modest output hikes

NEW YORK (Reuters) - Oil prices soared on Friday after oil producers agreed to modest crude output increases to compensate for losses in production at a time of rising global demand. FILE PHOTO: A pump jack stands idle in Dewitt County,…

21

OPEC agrees modest hike in oil supply after Iran softens stance

Reuters

OPEC agreed on Friday on a modest increase in oil production from next month after its leader Saudi Arabia persuaded arch-rival Iran to cooperate, following calls from major consumers to help reduce the price of crude and avoid a supply…

12

Sterling hits six-day high after BoE meeting but Brexit fears limit gains

LONDON (Reuters) - The pound rose to a six-day high on Friday after a Bank of England meeting revived expectations of a rate hike this year, but fears of a breakdown in Brexit talks next week limited sterling's gains. A bank employee…

08

Euro perks up as French, German surveys dispel slowdown fears

LONDON (Reuters) - The euro climbed half a percent on Friday after stronger than expected French business activity in June raised hopes that concerns about a widening slowdown in the eurozone in the second quarter may be slightly overdone.

03

Exclusive - Tesla to close a dozen solar facilities in nine states: documents

Reuters

LOS ANGELES/SAN FRANCISCO (Reuters) - Electric car maker Tesla Inc's move last week to cut 9 percent of its workforce will sharply downsize the residential solar business it bought two years ago in a controversial $2.6 billion deal,…

Thursday, Jun 21

00

BoE chief economist boosts chance of August hike with vote for rate rise

LONDON (Reuters) - The Bank of England bolstered expectations that at its next meeting it will raise rates for only the second time in a decade, after its chief economist unexpectedly joined the minority of policymakers voting for a hike…

23

UK's Hammond says he's no 'enemy of Brexit', seeks close EU ties

LONDON (Reuters) - Britain's Treasury is not trying to undermine Brexit but is instead focused on boosting prosperity by promoting continued close ties with the European Union after the country leaves, finance minister Philip Hammond said…

19

China warns trade spat will hurt U.S. jobs

Reuters

China's commerce ministry accuses the United States of being "capricious" over bilateral trade issues, and warns that the interests of U.S. workers and farmers ultimately will be hurt by Washington's penchant for brandishing "big sticks".…

16

WRAPUP 2-Trade pressures deepen as Daimler warns on sales

Reuters / Markets

BRUSSELS/FRANKFURT (Reuters) - Mercedes-Benz maker Daimler shocked investors on Thursday with a warning that trade tensions would hit sales, while fears of a "tit-for-tat" trade war grew as Europe readied retaliatory tariffs against the…

11

UK public borrowing falls more than expected in May, 2017/18 revised down

LONDON (Reuters) - Britain's government recorded a smaller budget deficit than expected in the second month of the 2018/19 financial year and borrowed less last year than had previously been reported, official data showed on Thursday.…

Sterling falls to seven-month low before Bank of England meeting

... * Graphic: World FX rates in 2018 tmsnrt.rs/2egbfVh. * Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv. LONDON, June 21 (Reuters) - The pound sank to a seven-month low on Thursday before a Bank of England monetary…

09

Dixons Carphone confirms profit slump

LONDON (Reuters) - Dixons Carphone (DC.L), the troubled British electricals and mobile phone retailer, on Thursday reported a 24 percent slump in annual profit, as expected, and said it would take time to turnaround the group's performance…

03

Bank of England to keep rates steady, markets look for August hint

LONDON (Reuters) - The Bank of England may lay some groundwork on Thursday for an August interest rate rise, if it judges the economy is now turning a corner after an unusually weak start to the year. FILE PHOTO: A pigeon stands in front…

Wednesday, Jun 20

22

Walt Disney raises bid for Fox assets

Reuters / Finance

Walt Disney raised its bid for Twenty-First Century Fox assets to $71.3 billion as it looks to scuttle Comcast's $65 billion offer last week. Fred Katayama reports.

German finance minister defends euro reforms against conservative attack

Reuters

BERLIN (Reuters) - Germany's finance minister on Wednesday defended a euro zone reform blueprint agreed with France against criticism by Chancellor Angela Merkel's conservatives that it could undermine monetary stability.

16

Labour could order biggest Bank of England shake-up in decades

uk.reuters.com

LONDON (Reuters) - Britain's opposition Labour Party could ask the Bank of England to target productivity to help boost the economy if it wins power, in the most radical change to the central bank's remit in more than two decades. FILE…

08

U.S. shale producers warn Chinese tariffs would hit energy exports

Reuters / Markets

HOUSTON (Reuters) - China's proposed tariffs on U.S. petroleum imports, part of a mounting trade war between the two countries, would crimp sales to the shale industry's largest customer, adding new pressure on U.S. crude prices, energy…

07

South Korea's Bithumb loses $32 million in digital money heist, bitcoin falls

SEOUL (Reuters) - South Korean cryptocurrency exchange Bithumb said 35 billion won ($31.5 million) worth of virtual coins were stolen by hackers, the second local exchange targeted in just over a week as cyber thieves exposed the high…

06

Global Markets: China stocks extend slump, temper Asian bounce as trade war anxiety grows

Reuters / Markets

SHANGHAI (Reuters) - China's stock markets slumped on Wednesday, extending a rout from the previous day as the prospect of a full-blown Sino-U.S. trade war put a dampener on the rest of Asian equities, even as they managed a modest bounce.

05

Exclusive - Lapses at many levels of bank led to huge PNB fraud, internal report shows

Reuters / UK

MUMBAI/NEW DELHI (Reuters) - A $2 billion fraud at India's Punjab National Bank (PNB) may have been orchestrated by a few rogue employees, but it escaped detection because of widespread risk-control and monitoring lapses in many areas of…

Tuesday, Jun 19

15

'Quitaly' risk premium lingers even as Italy's new government commits to euro

uk.reuters.com

LONDON (Reuters) - Italian financial assets still carry a risk premium regardless of the new government’s commitment to euro membership, with the coalition’s promised spending plans still expected to trigger a clash with European Union…

Trade war worries slam China and emerging markets

Reuters / Markets

LONDON (Reuters) - Chinese stocks fell almost 4 percent and alarm bells rang across global markets on Tuesday, as trade tensions between the United States and China escalated further.

09

Head of Volkswagen's Audi arrested in Germany over diesel scandal

Reuters

FRANKFURT (Reuters) - Volkswagen's supervisory suspended crisis talks to find a stand-in boss for its Audi brand which were convened after German authorities arrested current Audi Chief Executive Rupert Stadler as part of a probe into…

07

WRAPUP 1-Trump ratchets up China trade conflict with fresh tariff threat

Reuters

WASHINGTON/BEIJING (Reuters) - U.S. President Donald Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods, prompting a swift warning from Beijing of retaliation, as the trade conflict between the world's two…

Intel has paths around Trump's China tariffs, analysts say

Reuters

(Reuters) - Intel Corp, the world's biggest chipmaker by revenue and a prominent U.S. manufacturer, could avoid the most severe effects of a new list of Chinese tariffs proposed by U.S. President Donald Trump by shifting its production…

06

Australian court fines Apple $6.7 million over iPhone 'bricking' case

Reuters / Technology

SYDNEY (Reuters) - An Australian court fined U.S. electronics giant Apple Inc A$9 million ($6.7 million) on Tuesday after a regulator accused it of using a software update to disable iPhones which had cracked screens fixed by third parties.

05

CEO Musk emails staff alleging employee 'sabotage'

Reuters / UK / Markets

SAN FRANCISCO (Reuters) - Tesla Inc Chief Executive Elon Musk said on Monday in an email to staff that an unnamed Tesla employee had conducted "extensive and damaging sabotage" to the company's operations including allegedly making…

Monday, Jun 18

23

Google to invest $550 million in China e-commerce giant JD.com

Reuters / Technology

(Reuters) - Google will invest $550 million in Chinese e-commerce powerhouse JD.com , part of the U.S. internet company's efforts to expand its presence in fast-growing Asian markets and battle rivals including Amazon.com .

18

CYBG and Virgin Money join forces to take on UK's big four banks

Mid-sized bank CYBG has agreed a 1.7 billion pound ($2.3 billion) all-share deal to acquire Virgin Money, which it said will create Britain's sixth-largest bank by assets and a new challenger to the country's top four lenders. Sonia Legg…

14

Audi CEO arrested in Germany over diesel scandal

Reuters / UK

The head of Volkswagen's luxury arm Audi was arrested on Monday, the most senior company official so far to be taken into custody over the German carmaker's emissions test cheating scandal. Sonia Legg reports