Thursday, 21 November 2019

Business

Spain industrial output falls 3.1pc year-on-year

SPAIN’s calendar-adjusted industrial output fell 3.1 percent year-on-year in March, data from the National Statistics Institute showed on Thursday, below Reuters forecast for a 1.3 percent decrease. In February, output fell 0.2 percent year-on-year, revised from a previous reading of a 0.3 percent decrease.

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UK Labour Party says Brexit Deal talks with PM to continue next week

LONDON: The office of UK Prime Minister Theresa May and the opposition Labour Party will meet next week for the next round of talks aimed at overcoming their disagreements over a UK withdrawal deal from the EU, the Labour spokesperson said amid Brexit uncertainty. The fresh round of the negotiations between Downing ...

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General Motors to invest $700mn in Ohio

WASHINGTON: President Donald Trump said US automaker General Motors will invest $700 million in Ohio and create 450 jobs, selling one of its shuttered plants to a company that will produce electric trucks. “GREAT NEWS FOR OHIO!” Trump tweeted. He said that he talked to GM chief Mary Barra who ...

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Facebook introduces new tools for business

LONDON: Facebook announced two new advertising tools to help small businesses save time and resources so they can focus on growth: Automated Ads, Appointments and new video creative tools. With Automated Ads, the business owner is asked a few simple questions about their business and their goals to help develop ...

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Nigerian court dismisses oil export claims against Eni, Petrobras

LAGOS: A Nigerian court dismissed government claims that subsidiaries of Eni and Petrobras illegally exported crude oil to the United States, but a lawyer representing authorities in the West African country said an appeal would be launched. Crude oil sales are the mainstay of Africa’s biggest economy, making up two-thirds ...

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Ferrari shares race ahead after fast start to 2019

MILAN: Ferrari beat forecasts on Tuesday with a 14 percent rise in first-quarter core earnings, boosting its shares on growing expectations the Italian luxury carmaker might soon raise its full-year financial targets. Milan-listed Ferrari shares rose as much as 5.7 percent on the results, which were driven by strong sales ...

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US-China tensions are ‘threat’ to world economy: IMF chief

LONDON: The world’s two biggest economies, the US and China, have been at odds with each other since US President Donald Trump imposed tariffs on $250 billion worth of Chinese goods, citing concerns that Chinese trade practices were hurting American companies while demanding an adjustment to the terms of trade ...

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Galaxy Fold not yet ready for shipping: Samsung

SEOUL: Samsung Electronics Co. said Tuesday that it is still fixing some of issues on its Galaxy Fold, signaling that the product’s launch may come at a later than expected date. The South Korean tech giant had initially planned to launch the $1,980 foldable device in the United States on ...

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Hong Kong’s Favorite ETF Is Short the Whole Stock Market

Investors have been piling into a fund that makes money whenever Hong Kong stocks fall, as they rush to hedge against potential losses amid global uncertainties. The CSOP Hang Seng Index Daily Inverse Product has attracted $292 million in 2019, the biggest inflow for any fund trading on the city’s ...

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Ariane begins work on new satellite launchers

PARIS: Franco-German space group ArianeGroup said Monday that it had begun production of 14 new satellite launchers, destined to replace the workhorse Ariane 5 rockets as it contends with cheaper competition from Elon Musk’s SpaceX programme. The first Ariane 6 rockets, expected to cost 40 percent less to make than ...

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