Pound Bulls Look to U.K. Data in Hope to Revive Fortunes

The ailing pound may need a dose of positive U.K. data to help it recover from a losing run against the dollar. Traders will watch data due this week in the hope that evidence of a strong economy will help boost the currency. Sterling dropped below $1.30 for the first…

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Turkeys Cratering Markets Stoke Speculation Over Extreme Measures

Desperate measures are in the air in Turkey: Trading rooms are awash with talk of a bailout by the International Monetary Fund and potential capital controls. But there’s a vacuum at the core of economic policy making. The central bank and government have remained largely silent as the currency plummeted…

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SEC Review of Musk Tesla Tweets Likely to Focus on Truthfulness

U.S. regulators are likely to focus on whether Elon Musk was telling the truth when he said on Twitter that he’d secured funding to take electric-carmaker Securities and Exchange Commission is questioning the company whether the chief executive officer’s tweets were statements of fact and why he chose to make…

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Why Diesel Cars Are Spoiling Your Summer

Europeans aren’t just sweating through the long, hot summer. City dwellers may be coughing and wheezing more, too. Diesel vehicles, which still command nearly half the market for new cars, are left with barely any pollution controls when temperatures soar above 35 degrees Celsius (95 Fahrenheit), according to France’s Petroleum…

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Saudi Investment Freeze Doesn’t Amount to Much in Canada

The decision by Saudi Arabia to Canadian National Railway Co., and grain facilities. Most investments have been made by Saudi billionaire G3 Global Grain Group, a joint venture between state-owned Bunge Ltd., bought a 50.1 percent stake in the Canadian Wheat Board for C$250 million ($192 million) in 2015. SALIC…

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EU Banker Exodus Hits London Home Prices, BOE’s McCafferty Says

An outflow of European bankers from London is damping prices and rents in the capital’s housing market, Bank of England policy maker Ian McCafferty said on Tuesday. “We have seen an exodus of people — such that certain properties in London are now finding it harder and the prices in…

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Trump, Juncker Tout Deal Pulling Back From U.S.-EU Trade War

President Donald Trump and European Commission President Jean-Claude Juncker agreed to suspend new tariffs while negotiating over trade, pulling the U.S. and Europe back from the edge of a transatlantic trade war. The leaders pledged to expand European imports of U.S. liquefied natural gas and soybeans and both vowed to…

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Trump, Juncker Tout Deal Pulling Back From U.S.-EU Trade War

President Donald Trump and European Commission President Jean-Claude Juncker agreed to suspend new tariffs while negotiating over trade, pulling the U.S. and Europe back from the edge of a transatlantic trade war. The leaders pledged to expand European imports of U.S. liquefied natural gas and soybeans and both vowed to…

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Millionaires Now Control Half of the World’s Personal Wealth

The rich are getting a lot richer and doing so a lot faster. Personal wealth around the globe reached $201.9 trillion last year, a 12 percent gain from 2016 and the strongest annual pace in the past five years, Boston Consulting Group said in a Source: Boston Consulting Group Last year’s…

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This Stock’s 9,500% Rally Created a Town of Millionaires

At most big companies, it’s pretty clear who the millionaires are: top executives, rainmakers, science whizzes with PhDs. But at China’s Bloomberg. The previously unreported value of their holdings has ballooned as Sunny Optical’s shares surged more than 9,500 percent since June 2008, trouncing even Netflix Inc.’s 7,500 percent gain.…

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Mexican Banks Are Said to Have Been Targeted in Cyber Attack

Cyber attackers attempted to penetrate Mexico’s electronic payment systems Friday, forcing three banks to enact contingency plans, according to people familiar with the matter. Three banks experienced “incidents” in recent days when operating the SPEI, Mexico’s interbank electronic transfer system, and will be connecting to the central bank’s network under…

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U.K. to Seek Ban on Domestic Sale of Plastic Straws, Cotton Buds

The U.K. promises to ban the sale of single use plastic drinking straws and cotton buds later this year in a bid to clean up the world’s oceans. Prime Minister Theresa May announced the plans ahead of a meeting of Commonwealth leaders in London, urging the former British colonies to…

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