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Saturday, July 4, 2020

India clears purchase of six Boeing helicopters in $650 million deal

NEW DELHI - India on Thursday cleared the purchase of six more Boeing Co (BA.N) Apache helicopters in a deal worth close to 42 billion rupees ($654.6 million), a defence ministry official said. The order follows India's purchase of 22 Apache and Chinook helicopters...

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...

Lufthansa in talks to buy most of Air Berlin planes: media

FRANKFURT  - Germany's Lufthansa (LHAG.DE) is in talks to buy a majority of insolvent Air Berlin's (AB1.DE) aircraft, with the backing of Berlin, which is pushing for a national aviation champion, media reports said on Thursday. Air Berlin, Germany's second-largest airline, filed for bankruptcy protection...

Cautious tone from central banks sends global stocks lower

LONDON - Global stocks fell on Thursday as investors trimmed their exposure to riskier assets after central bank minutes revealed a wary take on the economic outlook from ratesetters on both sides of the Atlantic. The European Central Bank expressed caution about removing monetary...

Why Russia’s Biggest Private Bank Rattles Nerves

By Jake Rudnitsky Bank Otkritie FC, Russia’s largest private bank, has had a bumpy ride of late. In June it lost $1.7 billion in deposits. Then, following the collapse of a smaller competitor, a wave of rumors on social media questioning the bank’s stability grew...

The Nordic Bank That Doesn’t Want Corporate Cash

by Frances Schwartzkopff Clients urged to place surplus cash in other Danske products Denmark holds the world record in negative interest rates Danske Bank A/S is telling corporate clients to think hard about what to do with their excess cash before Dec. 31, because Denmark’s...

Naspers shares hit 4-week lows after China launches cyber investigation

JOHANNESBURG - Shares of Naspers fell more than 3 percent to four-week lows on Friday after China launched an investigation into its top social media sites, including the South African media company's subsidiary Tencent's WeChat. The Cyberspace Administration's investigation is the latest step in China's...

Banker Bonuses Are Rising, But Traders Aren’t as Lucky

Pay consultant Johnson Associates issues year-end projections Asset and hedge fund managers may see little or no increase Wall Street investment bankers can expect some hefty bonus gains this year, while traders may have to settle for little...

Citi: Diversity groups need more senior men

The bank has appointed its male-dominated leadership to co-head affinity groups Citigroup has appointed its most high-ranking, white, male managers to lead its internal diversity networks, as big banks come under growing pressure to get more women and people from ethnic minorities into senior positions. The...

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...
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