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Sunday, July 12, 2020

Brazil inflation hits new 18-year low, below all forecasts

Bruno Federowski SAO PAULO (Reuters) - Brazilian inflation hit a fresh 18-year low in August due to an abundant harvest, undershooting all estimates and giving plenty of room for the central bank to keep cutting interest rates. The IPCA consumer price index rose 2.46 percent in...

China targets Alibaba’s Taobao, other e-commerce sites, in VPN crackdown

Cate Cadell BEIJING (Reuters) - Chinese authorities have issued a warning to the country's top e-commerce platforms, including Alibaba Holding Group Ltd's (BABA.N) Taobao.com, over the sale of illegal virtual private networks that allow users to skirt state censorship controls. Five websites have been asked to...

Lloyds unveils special dividend after highest profit since crisis

Bank’s earnings boosted by sharp decline in cost of PPI mis-selling scandal Lloyds Banking Group has unveiled a £2.2bn dividend payout after more than doubling its annual pre-tax profits on the back of lower provisions for mis-selling payment protection insurance. The bank, which is now less...

BoE orders banks to set aside extra £11.4bn

Banks in the United Kingdom have been ordered to put aside an extra £11.4bn to deal with any future economic slowdown as part of a major package of new rules designed to stop a lending boom turning into a dangerous bust. The Bank of England...

Wells Fargo says fake accounts scandal may widen

Bank warns it also faces regulatory scrutiny over car insurance Wells Fargo said that the number of fake bank accounts set up by its staff could be significantly higher than previously thought and warned investors that it risks further regulatory investigations into a new...

Green Bond Giant Awakened by Nigeria, Others Spending to Save Climate

Sovereign debt pool of $44.5 trillion starts going green Securities are designed to mitigate, cope with climate change Nigeria, other Governments spending to avert climate change have stirred a green bond giant inside the global sovereign debt pool worth trillions of dollars. Nigeria is expected...

G7 financial leaders reiterate FX pledges, vow more cyber cooperation

Financial leaders of seven leading world economies pledged stronger cooperation against cyber crime on Saturday and not to use foreign exchange to gain competitive advantage, but stuck to their cautious wording on trade, their final communique showed. Finance ministers and central bank governors from the...

Higher Price Competition for China’s Private Auto Brands

Fitch Ratings Chinese proprietary auto brands face increased price competition amid 2017's weak auto market, as signalled by price cuts in the previous few months to boost retail demand and help dealers destock, says Fitch Ratings. This will lead to further brand polarisation and...

Saudi’s Kingdom Holding buys $62 mln stake in ride-hailing firm Careem

Carmaker Daimler and Saudi Arabia's Kingdom Holding, a firm owned by billionaire Prince Alwaleed bin Talal, have taken part in an $150 million investment in Dubai-based ride-hailing firm Careem. Venture capital firm DCM Ventures and hedge fund Coatue Management also took park in the Uber-rival's fundraising,...

Despite diesel scandal, new models coming to US

Despite uproar created by the diesel emissions cheating scandal at Volkswagen, Ford and General Motors are poised to offer new or revamped diesel vehicles to their American customers. It is a bold move, since only 255 diesel cars were sold in the US market in...
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