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Dollar nears 3-mth low, shares climb after Fed tests the brakes

LONDON, Nov 24 (Reuters) – Shares hit a two-month high and the dollar swooped towards a three-month low on Thursday, after Federal Reserve signals of smaller interest rate rises from next month were followed by the message from Frankfurt that the ECB will plough on. With Wall Street shut for Thanksgiving, it was up to …

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Russia revives Soviet-era Moskvich brand with Chinese model

This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Nov 23 (Reuters) – After a two-decade hiatus, Russia on Wednesday launched production of the Moskvich car brand at a plant near Moscow given up by the French carmaker Renault, with a new, modern Chinese design that …

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Europe to be hit hardest in global slowdown -OECD

Global growth seen falling from 3.1% in 2022 to 2.2% in 2023 National outlooks vary widely, with UK lagging other economies Central banks urged to keep hiking interest rates PARIS, Nov 22 (Reuters) – The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp …

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‘It’s over’: Twitter France’s head quits amid layoffs

PARIS, Nov 21 (Reuters) – Twitter Inc’s head of French operations, Damien Viel, said he was quitting the social media platform, whose new owner Elon Musk recently fired top executives and enforced steep job cuts at the company. “It’s over,” Viel tweeted on Sunday, thanking his team in France, which he led for the last …

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Chinese carmakers target more European sales with five-star EVs

SOLIHULL, England, Nov 21 (Reuters) – Chinese electric vehicle (EV) makers have set their sights on winning over European drivers and large corporate customers with more affordable cars that come with top safety ratings and lots of high-tech features. In the last few months, several Chinese EVs have received five-star European New Car Assessment Program …

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Google struck $360-mln Activision deal to block rival app store, argument says

OAKLAND, Calif., Nov 17 (Reuters) – Alphabet Inc’s (GOOGL.O) Google has struck at least 24 deals with big app developers to stop them from competing with its Play Store, including an agreement to pay Activision Blizzard Inc (ATVI. O) about $360 million over three years, according to a court filing on Thursday. Google also agreed …

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Elon Musk’s net worth slips below $200 billion as Tesla shares waver

Nov 8 (Reuters) – Elon Musk’s net worth dropped below $200 billion on Tuesday as investors dumped Tesla Inc (TSLA.O) shares on fears the top executive and largest shareholder of the world’s most valuable electric-vehicle maker is more preoccupied with Twitter. Musk now has a net worth of $194.8 billion, according to Forbes, with a …

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Renault splits into 5 businesses in drive to boost profit

Renault to split in five businesses in big overhaul To form joint venture with Geely, spin off EV unit Shares fall on lack of progress in talks with Nissan PARIS, Nov 8 (Reuters) – French car maker Renault (RENA.PA) announced a major overhaul that will see it separate its activities in five businesses, deepen ties …

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Caution creeps into world stocks as Fed gets ready to hike big again

LONDON, Nov 2 (Reuters) – European shares dipped and US stock futures were mixed on Wednesday as a note of caution crept into world stock markets as the US Federal Reserve looked set to deliver its fourth, 75 basis points interest rate increase. Another aggressive rate hike to contain hot inflation when the Fed conclides …

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BP joins rivals with bumper $8.2 bln profit

Natural gas trading boosts profit BP to buy back another $2.5 bln in shares US President Biden has urged sector to stop “war profiteering” LONDON, Nov 1 (Reuters) – BP (BP.L) more than doubled its third-quarter profit from a year earlier to $8.15 billion and expanded its share buybacks by $2.5 billion, joining rivals in …

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