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- ECONOMY
U.S. Senate Votes to Take Up $1.9 Trillion Pandemic Relief Bill
(Bloomberg) — The U.S. Senate voted to take up a $1.9 trillion pandemic relief bill backed by President Joe Biden,…
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Schroders boss says Spacs will help City ’embrace new world’
Peter Harrison, chief executive of FTSE 100 listed asset manager Schroders, says proposals designed to encourage international companies to list in…
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Texas Watchdog Says Power Grid Operator Made $16 Billion Error
(Bloomberg) — A firm hired to monitor Texas’ power markets says the region’s grid manager overpriced electricity for almost two…
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NYC Investor Spent $1.5 Million on June Democratic Voter Push
(Bloomberg) — More than 22,500 New Yorkers switched to the Democratic Party amid a $1.5 million campaign led by venture…
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Credit Suisse spotted early signs of trouble brewing at Greensill Capital
Credit Suisse Group knew since 2019 that supply-chain finance funds it ran with Greensill Capital were too reliant on a…
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Republicans Shouldn’t Be Democrats-Lite
(Bloomberg Opinion) — Republicans seem to be toying with the notion that the best way to erase the taint left…
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Baidu Said to Win Hong Kong Bourse Approval for Second Listing
(Bloomberg) — Chinese search engine giant Baidu Inc. has secured approval from the Hong Kong stock exchange for a second…
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In Lockdown Brazil, Everyone Is Watching Big Brother
(Bloomberg Opinion) — After a year battling worsening Covid-19, and with new variants on the loose, Brazilians still face bouts…
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Back to Work: What Recovery Felt Like for Millions of Americans
(Bloomberg) — It’s been a year since Covid-19 triggered the steepest economic collapse in modern U.S. history, with more than…
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Square to Buy Jay-Z’s Music Service Tidal, Appoint Him to Board
(Bloomberg) — Square Inc. has agreed to buy a majority stake in Tidal, the streaming music service led by rapper…
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TWo Airline Titans Weigh In on the Future of Flight
(Bloomberg Opinion) — One year into the Covid-19 pandemic and a few months into the vaccine rollout, demand for air…
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Fallen King of Cable TV Bets That Live Sports Can Stem Decline
(Bloomberg) — Once an icon of cable TV’s money-minting powers, USA Network today symbolizes the industry’s long slide in the…
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Biden’s Relief Debate, Fed Policy, U.S.-U.K. Tariffs: Eco Day
The Senate enters the final stages of debating President Joe Biden’s $1.9 trillion pandemic relief bill on Thursday, with passage…
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U.K.’s Go-Big Budget Masks Spending Cuts Seen as Austerity 2.0
(Bloomberg) — Prime Minister Boris Johnson’s government is being accused of dropping its pledge to end austerity after cutting a…
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Where Are We in Finding the Coronavirus’s Origin?
(Bloomberg) — More than a year after Covid-19 touched off the worst pandemic in more than a century, scientists have…
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Budget 2021: Corporation tax will bite most profitable UK companies
Chancellor Rishi Sunak’s move to raise corporation tax to 25% from 19% by 2023 has been greeted with resigned acceptance…
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Vaccine rollout helps end dry spell for UK equity fund inflows
Investment funds that invest specifically in UK-listed companies turned a corner in February, with the rapid rollout of Britain’s Covid…
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KPMG UK agrees sale of restructuring business in PE-backed management buyout
KPMG UK has agreed to sell its restructuring unit in a management buyout backed by private equity firm H.I.G. Europe.…
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Renegade Crypto Exchange Enlists Mainstream CEO for Makeover
(Bloomberg) — Alexander Höptner was leading the Börse Stuttgart when he jumped at the chance to take a top job…
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Senate Final Vote on Stimulus Likely Pushed Into Weekend
(Bloomberg) — The Senate enters the final stages of debating President Joe Biden’s $1.9 trillion pandemic relief bill on Thursday,…
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U.K. Debt Chief Hails Gilt Liquidity as Reason for Calm on Rout
(Bloomberg) — The head of the U.K.’s Debt Management Office is hardly batting an eye over the meltdown in U.S.…
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Renegade Crypto Exchange Turns to Mainstream CEO for a Makeover
(Bloomberg) — Alexander Höptner was leading the Börse Stuttgart when he jumped at the chance to take a top job…
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CLSA Loses More Than Half of Its Hong Kong Bond Sales Team
(Bloomberg) — CLSA Ltd. has lost more than half of its fixed income team that focuses on bond sales in…
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Billionaire Lemann Is Stepping Down From Kraft Heinz’s Board
(Bloomberg) — Jorge Paulo Lemann is leaving the board of Kraft Heinz Co., the giant consumer company he helped put…
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Japan’s Genesia Leads $700,000 Vietnam Digital Media Investment
(Bloomberg) — Japan’s Genesia Ventures Inc. led a $700,000 investment in Vietnam startup Vietcetera Media targeting the nation’s growing middle…
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Indian Vaccine Effective; Record Deaths in Brazil: Virus Update
(Bloomberg) — An experimental vaccine developed by India’s Bharat Biotech International Ltd. showed 81% efficacy in an interim clinical trial.…
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Snowflake Falls on Slower Product Sales Growth Forecast
(Bloomberg) — Snowflake Inc. dropped in extended trading after projecting its product revenue growth will slow in the current quarter…
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With Michaels Buyout, Apollo Picked a Weird Time to Get Crafty
(Bloomberg Opinion) — Michaels Cos.’ management has crafted a lucrative exit for shareholders. The arts and hobby supplies chain announced on Wednesday that it had…
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Junk Bonds Prove to Be a Shelter From the Rates Storm
(Bloomberg Opinion) — The junk-bond market has never offered such low yields. And yet, it might just be the best…
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House Set to Pass Elections Overhaul, But Senate Action Unlikely
(Bloomberg) — House lawmakers are slated to pass a landmark bill Wednesday that would overhaul nearly every aspect of U.S.…
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Cuomo Aura of Invincibility Crumbles Under Scandals’ Weight
(Bloomberg) — Andrew Cuomo, who has dominated New York state politics for more than a decade and enjoyed a rising…
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Now Could Be Buffett’s Moment to Lend America a Hand
(Bloomberg Opinion) — From a new presidential slogan of “Build Back Better” to an economy strained by supply chain problems…
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Walmart says it will support U.S. manufacturers with $350 billion of added business
A worker delivers groceries to a customer’s vehicle outside a Walmart Inc. store in Amsterdam, New York, on Friday, May…
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Sunak calls for creative approach from Bank of England to boost City post Brexit
Chancellor Rishi Sunak has asked the Bank of England to think “creatively” in ensuring the UK’s financial services industry remains…
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JPMorgan Adds Goldman Dealmaker to Strategic Investors Team
(Bloomberg) — JPMorgan Chase & Co. is hiring Haidee Lee from Goldman Sachs Group Inc. as head of mergers and…
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Exxon Outlines Plan to Boost Returns and Grow Its Dividend
(Bloomberg) — Exxon Mobil Corp. outlined a target to achieve returns of least 30% on new projects after reducing capital…
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Private payrolls growth well short of expectations for February, ADP says
Private payroll growth disappointed in February despite otherwise encouraging signs of economic growth, according to a report Wednesday from ADP.…
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This 10.2%-Paying Fund Is Set To Soar As Vaccines Roll Out
Female doctor wearing a face mask giving vaccine to a senior man in her clinic. getty Patriotism is rarely a…
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Biden’s State Rescue Dwarfs Tax Hit, Turning It Into Stimulus
(Bloomberg) — Listen to any of the architects of the $1.9 trillion spending package winding its way through Congress —…
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Greensill Capital planning insolvency amid deal talks with Apollo
Embattled financial startup Greensill Capital plans to file for insolvency in the UK this week, as it simultaneously moved toward…
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Regional Bank M&A Won’t Easily Fix the Tech Gap
(Bloomberg Opinion) — Regional U.S. banks are having something of a moment. After M&T Bank Corp. agreed last week to buy…
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Internet Shutdowns Plunge Millions into ‘Digital Darkness’
(Bloomberg) — India led the world last year in internet shutdowns that affected hundreds of millions of people, as governments…
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Amazon, Google Vie for Piece of India’s Digital Payments Market
(Bloomberg) — Technology giants Facebook Inc., Amazon.com Inc. and Google and credit-card providers Visa Inc. and Mastercard Inc. are among…
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Regulators monitor Greensill as financier scrambles to sell core parts of business
Pressure mounted on embattled SoftBank Group-backed Greensill Capital as it scrambled to sell core parts of its business and regulators…
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Cuomo’s Aura of Invincibility Crumbles Under Weight of Scandals
(Bloomberg) — New York Governor Andrew Cuomo, who has dominated New York state politics for more than a decade and…
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Biden Gains Two Key Economic Advisers
WASHINGTON — The Senate confirmed two key members of President Biden’s economic team on Tuesday, ushering in Gina Raimondo, the…
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Policy Credibility Is Hard to Earn and Easy to Lose
(Bloomberg Opinion) — Some emerging markets managed to stage a great escape from the ravages of Covid-19 by deploying all sorts of…
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Tokyo to Extend Emergency; Australia Stays Shut: Virus Update
(Bloomberg) — Tokyo plans to ask the national government to extend the coronavirus state of emergency, according to the Nikkei,…
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Billionaire Fund Manager to Pay $105 Million in NY Tax Case
(Bloomberg) — A billionaire hedge fund manager agreed to pay $105 million to New York, the biggest fine of its…
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China Investors Await Policy Signals to Boost Faltering Stocks
(Bloomberg) — China’s renewable energy, defense and technology sectors are poised for a boost from the nation’s top political meeting…
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