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Finance news Stories

Germany’s Otto says currencies weigh on earnings

FRANKFURT (Reuters) – Germany’s Otto [OTTOG.UL], Europe’s second-biggest e-commerce company, expects a “painful drop” in earnings for the 2014/15 fiscal year as the weak Russian rouble and euro weigh, its chief executive told the newspaper Handelsblatt. The Otto Group, a … Continue reading

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MIDEAST STOCKS-Gulf markets surge on stronger oil, big Saudi payout

* Gulf petrochemicals rise sharply * Saudi Arabia also boosted by lavish royal payout * Retailers surge, likely to see stronger sales * Dubai Investments soars after hiking dividend * Egypt pulls back after fresh violence in Sinai By Olzhas … Continue reading

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Obama plans 19 pct tax on U.S. companies’ foreign earnings

By Jeff Mason and Kevin Drawbaugh WASHINGTON (Reuters) – President Barack Obama’s fiscal 2016 budget proposes a 19 percent tax on U.S. companies future foreign earnings and a one-time 14 percent tax on roughly $2 trillion of profits being held … Continue reading

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CRH confirms $7.34 billion deal to buy assets from Lafarge SA, Holcim

(Reuters) – Irish building materials company CRH Plc confirmed that it agreed to pay $7.34 billion (4.9 billion pounds) for assets from cement companies Lafarge SA and Holcim Ltd, the Wall Street Journal reported on Sunday. CRH will fund the … Continue reading

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Germany, ECB play hardball with Greece

By Paul Carrel and Jussi Rosendahl BERLIN/HELSINKI (Reuters) – German Chancellor Angela Merkel ruled out a debt writedown for Greece on Saturday, and a European Central Bank policymaker threatened to cut off funding to Greek banks if Athens does not … Continue reading

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Greece seeks to reassure Europe as tensions rise

By James Mackenzie and Renee Maltezou ATHENS (Reuters) – New Greek Prime Minister Alexis Tsipras, striking a conciliatory note on debt talks after a turbulent start to office, has called the European Central Bank chief to assure him that Athens … Continue reading

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China factory sector jolts by shrinking in January

By Koh Gui Qing BEIJING (Reuters) – China’s factory sector unexpectedly shrank for the first time in nearly 2-1/2 years in January and firms see more gloom ahead, an official survey showed, raising expectations that policymakers will take more action … Continue reading

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U.S. regulators recall 2.1 million vehicles in new air bag issue

By Joe White (Reuters) – The auto industry’s air bag troubles deepened on Saturday as U.S. federal safety regulators said three big automakers will recall about 2.1 million older vehicles to fix defects that could cause air bags to deploy … Continue reading

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European shares enjoy best month in over three years

By Blaise Robinson PARIS (Reuters) – European stocks dipped on Friday but posted their best monthly performance in over three years, lifted by hopes the European Central Bank’s quantitative easing programme will revive the region’s economic growth and corporate earnings … Continue reading

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Wall Street pares losses on energy rebound; Shake Shack, Amazon rally

By Sinead Carew NEW YORK (Reuters) – U.S. stocks pared earlier losses to trade little changed Friday afternoon amid a rebound in the energy sector as oil prices surged on expectations for a supply decline due to a falling rig … Continue reading

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Finance News

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