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  • Finance, World Biz  |  AUGUST 31, 2015 2:01PM

    Citi aims to boost equities franchise amid industry shakeout

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    Citigroup plans to rebuild its long-neglected equities franchise seeking to capitalize on a retrenchment by rivals in the face of new rules designed to make the financial system less risky, according people familiar with the bank’s plans. A lack of …

     
  • Featured and Exclusive, World Biz  |  AUGUST 31, 2015 1:47PM

    Hedge funds dump Alibaba for smaller rival

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    Less than a year ago investors were scrambling to pick up shares in Alibaba Group Holding Ltd when Asia’s largest e-commerce company made its record debut on the New York Stock Exchange. Now sentiment is changing as JD.com Inc, its …

     
  • Featured and Exclusive, World Biz  |  AUGUST 31, 2015 11:43AM

    Modi backtracks on India land reform

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    Indian Prime Minister Narendra Modi stepped back from a move to make it easier for companies to acquire land after increased opposition from farmers ahead of a key election. An executive order imposed in December to exempt certain investment projects …

     
  • World Biz  |  AUGUST 30, 2015 7:12PM

    Algeria to cut spending by 9% over oil price slump

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    Algeria’s government said on Saturday it will cut spending by 9% next year due to the drastic fall in global oil prices as the OPEC petroleum and gas producer tries to counter the drop in energy revenues that account for …

     
  • World Biz  |  AUGUST 30, 2015 7:00PM

    Half of UK manufacturers worried by China

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    Just under half of British manufacturers are worried by the possibility of a sharp slowdown in China’s economy and one in ten are reviewing their business plans, a survey from an industry group showed on Sunday. EEF said 47% of manufacturers …

     
  • World Biz  |  AUGUST 30, 2015 2:04PM

    Pressure mounts on Najib to resign

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    Thousands gathered for a second day of protests on Sunday to demand the resignation of Prime Minister Najib Razak over a multi-million-dollar financial scandal, their spirits lifted by unexpected support from Malaysia’s longest-serving leader. Hundreds slept out overnight in central …

     
  • World Biz  |  AUGUST 29, 2015 9:49PM

    China to cap 2015 gov’t debt at 16 trillion yuan

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    China’s parliament approved on Saturday a cabinet plan to cap total outstanding local government debt at 16 trillion yuan (US$2.5 trillion) this year, the official Xinhua news agency reported. China, whose cooling economy has spooked investors worldwide, has long sought …

     
  • World Biz  |  AUGUST 29, 2015 2:50PM

    IMF involvement in future bailouts not needed

    The involvement of the International Monetary Fund (IMF) in future bailouts for eurozone countries is not necessary financially nor in terms of expertise, the head of the European Stability Mechanism (ESM) told Spiegel in an article to be published Saturday. …

     
  • Featured and Exclusive, World Biz  |  AUGUST 28, 2015 8:04PM

    Hermes in talks with Birkin on renaming bags

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    Hermes says it is in talks with actress and singer Jane Birkin about her request to remove her name from the luxury brand’s best-selling crocodile bag because she disagrees with the farming and slaughtering practices of one of its suppliers. In a …

     
  • World Biz  |  AUGUST 28, 2015 6:50PM

    Salaries delayed as HSBC UK suffers IT glitch

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    HSBC Holdings Plc, Europe’s largest bank, said some UK customers haven’t received payments into their accounts on the final business day of the month, when many salaries in the country are paid. “We are aware that some customers have not …

     
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