NORD

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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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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Intel hit with $949 mln US verdict in VLSI computer chip patent trial

Nov 15 (Reuters) – A federal jury in Texas on Tuesday said Intel Corp (INTC.O) must pay VLSI Technology LLC $948.8 million for infringing a VLSI patent for computer chips. VLSI, a patent-holding company affiliated with the SoftBank Group Corp-owned private equity firm Fortress Investment Group, argued during the six-day trial that Intel’s Cascade Lake …

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Hedge fund Galois Capital says half its capital stuck on FTX exchange -FT

Nov 12 (Reuters) – Galois Capital is the latest hedge fund caught off guard after close to half its assets were trapped on collapsed crypto exchange FTX, the Financial Times said on Saturday, estimating the amount to be around $100 million. Galois co-founder Kevin Zhou wrote to investors in recent days that while the fund …

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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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Philip Morris clinches Swedish Match after smoking out opposition

PMI needs 90% stake for compulsory buyout of minorities PMI believes that target can eventually be reached PMI says top 10 Swedish Match investors tendered shares Nov 7 (Reuters) – Marlboro maker Philip Morris International (PMI) (PM.N) overcame some opposition to clinch 83% of Swedish Match (SWMA.ST), short of the 90% it wanted but enough …

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‘Massive scars’: Germany’s Uniper posts record 40 bln euro net loss

Includes 31 billion euros in expected gas losses Uniper has drawn 14 bln euros of KfW credit lines Russian unit draws possible buyers’ interest Shares down 3% FRANKFURT/DUESSELDORF, Nov 3 (Reuters) – Soon-to-be-nationalised gas importer Uniper (UN01.DE) reported a record 40 billion euro ($39.3 billion) net loss in the first nine months of this year, …

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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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European stocks hit six-week high on hopes for rate hike slowdown

LONDON, Nov 1 (Reuters) – European stocks rose on Tuesday and the positive market sentiment was set to continue on Wall Street, supported by speculation among investors that central banks could come to the end of their rate-hiking cycles. Following mild losses on Wall Street on Monday, Asian shares strengthened on Tuesday and European shares …

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Oil futures ease 1% as China widens COVID curbs

For the week, Brent up 2%, WTI up 3% US diesel futures rise to highest since June IMF cuts China’s forecasts, expects 3.2% growth this year NEW YORK, Oct 28 (Reuters) – Oil prices eased about 1% on Friday after top crude importer China widened its COVID-19 curbs, though the crude benchmarks were poised for …

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