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    LONDON, Dec 1 (Reuters) – HSBC (HSBA.L) has identified $1.7 billion of extra costs that can be stripped out next year, Chief Executive Noel Quinn said on Friday, as the bank battles to improve returns amid calls for it to be broken up by its biggest shareholder. The cuts – on top of existing targeted ...
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    Russia turns to the Chinese currency amid sanctions Moscow becomes No.4 offshore trading centre for yuan Yuan’s share of Russian FX market jumps from 1% to 45% Russian central bank supports trend but warns of risks This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW/SHANGHAI, Nov ...
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    SINGAPORE, Nov 28 (Reuters) – The dollar climbed on Monday as protests against COVID restrictions in China rattled financial markets, sending the yuan sliding and pushing nervous investors toward the safe-haven greenback. The COVID protests have flared across China and spread to several cities in the wake of a deadly fire in Urumqi in the ...
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    Fed minutes for November due at 1900 GMT Wall Street stocks trade higher U.S. Treasury yields retreat Crude prices drop more than 4% U.S. dollar falls NEW YORK, Nov 23 (Reuters) – World equities rose while U.S. Treasury yields were lower ahead of the release of the Federal Reserve’s meeting minutes that would offer a ...
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    HONG KONG, Nov 22 (Reuters) – Credit Suisse (CSGN.S) has laid off about one-third of its China-based investment banking team and nearly half of its research department, sources with knowledge of the matter told Reuters, as part of a global restructuring and as its China business slows. The sources declined to be identified as the ...
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    NEW YORK, Nov 22 (Reuters) – The dollar retreated across the board on Tuesday, ceding some of the ground gained in the previous session, as investors looked past worries about China’s COVID flare-ups, boosting demand for more risky currencies. Equities, commodities and riskier currencies were largely firmer on Tuesday, a day after fresh COVID-19 curbs ...
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    Nov 22 (Reuters) – Japan’s Mazda Motor Corp (7261.T) will invest about 1.5 trillion yen ($10.58 billion)to electrify its vehicles, including boosting production of battery EVs, and aims to increase their share in the company’s overall global car sales by 2030. Mazda’s senior managing executive officer Akira Koga said the investment would be made along ...
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    NEW YORK, Nov 21 (Reuters) – The U.S. dollar rose against most major currencies on Monday, recouping recent losses, as fresh COVID-19 curbs in China fuelled worries over the global economic outlook and made traders shun riskier currencies. China’s capital warned on Monday that it was facing its most severe test of the COVID-19 pandemic, ...
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    Disney up on Iger’s return as CEO S&P 500 energy index leads sectoral falls Grindr slips after rocketing in debut Indexes down: Dow 0.09%, S&P 0.37%, Nasdaq 0.64% Nov 21 (Reuters) – Wall Street’s main indexes began the week on a dull note on Monday due to curbs in China and losses in energy stocks ...
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    LONDON, Nov 21 (Reuters) – India has emerged as the second most coveted investment market after the United States for sovereign wealth funds and public pensions funds in 2022, according to a study by asset manager Invesco published on Monday. Sovereign investors, which now manage some $33 trillion in assets, have also seen a rapid ...