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China July HSBC flash PMI at 18-month high

BEIJING (Reuters) – China’s factory activity expanded at its fastest pace in 18 months in July as new orders surged, a preliminary HSBC survey showed on Thursday, the latest indication that the economy is picking up as government stimulus measures … Continue reading

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Asia stocks supported as China’s factories revive

SYDNEY (Reuters) – Asian stocks edged higher on Thursday as U.S. tech earnings impressed and a surprisingly strong reading on Chinese manufacturing bolstered hopes for recovery in the world’s second-biggest economy. The HSBC flash PMI for China came in at … Continue reading

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After second-quarter profit hit, Hyundai Motor warns of firmer won, slowing demand growth

SEOUL (Reuters) – South Korea’s Hyundai Motor said its net profit fell the most in five quarters, hit by the local currency’s sharp gain versus the dollar, and warned it sees a tough second half as the won stays strong … Continue reading

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Roche first-half sales hit by strong Swiss franc

BASEL (Reuters) – Swiss drugmaker posted a slight fall in sales in the first half, as the strong Swiss franc put the brakes on solid growth of its breast cancer medicines. The world’s largest maker of cancer drugs said first-half … Continue reading

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Argentina debt mediator postpones start of New York talks

NEW YORK (Reuters) – A court-appointed mediator in the Argentina debt dispute said he had to push back by a day the start of the latest round of settlement talks on Wednesday because the Argentine delegation “could not get here … Continue reading

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NY Fed found serious problems at Deutsche Bank’s U.S. arms: sources

FRANKFURT (Reuters) – The Federal Reserve Bank of New York has found serious problems in Deutsche Bank AG’s DBKGn.DE U.S. operations, including shoddy financial reporting, weak technology and inadequate auditing and oversight, people close to the matter told Reuters. In … Continue reading

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UK fraud office liaising with China on GSK bribery case

LONDON (Reuters) – Britain’s fraud office is working with authorities in China in a first for such Anglo-Chinese cooperation as it carries out its own investigation into alleged corruption at drugmaker GlaxoSmithKline (GSK.L). “Certainly, so far as I am aware … Continue reading

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SEC adopts long-awaited reforms for money market funds

WASHINGTON (Reuters) – U.S. securities regulators adopted rules on Wednesday designed to curb the risk of investor runs on money market funds, capping the end of a years-long heated debate between regulators and the industry dating to the financial crisis. … Continue reading

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Apple revenue lags Street’s view despite strong China growth

SAN FRANCISCO (Reuters) – Apple Inc posted a smaller-than-expected 6 percent rise in quarterly revenue on Tuesday, but revenue surged 28 percent in greater China despite stiff competition in its third-largest market. It sold 35.2 million iPhones in the June … Continue reading

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With sales sputtering, Apple’s iPad looks to IBM alliance

SAN FRANCISCO (Reuters) – Apple Inc’s iPad is losing steam just four years after its release, but an alliance with International Business Machines Corp could rejuvenate a flagging product by entering into a largely untapped corporate market. Apple shipped 13.2 … Continue reading

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