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Britain reviews financial rules to bolster City’s global clout

Britain says high standards will be maintained UK flags reviews in financial-crisis era reforms London faces new competition from EU centres Consultation on digital pound planned LONDON, Dec 9 (Reuters) – Britain set out a raft of measures on Friday to bolster the City of London’s role as a global financial centre, under strain since …

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Musk taps Tesla’s China chief to run Texas gigafactory – Bloomberg News

Dec 8 (Reuters) – Tesla Inc (TSLA.O) chief Elon Musk has roped in longtime executive and the company’s president in China, Tom Zhu, to help run the carmaker’s new plant in Austin, Texas, Bloomberg News reported late on Wednesday. Zhu, who joined Tesla in 2014 and is heading Tesla’s Asia Pacific operations, is in Austin …

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Airtel is the only bidder in Nigeria’s second 5G licensing round

ABUJA, Dec 7 (Reuters) – Airtel Africa (AAF.L) emerged as the sole bidder for a 5G high-speed spectrum license in Nigeria’s second round of licensing after another company failed to pay a deposit to continue with the auction, the regulator said on Wednesday. The Nigerian Communications Commission (NCC) issued the country’s first 5G licenses to …

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EU agrees law preventing import of goods linked to deforestation

BRUSSELS/SAO PAULO, Dec 6 (Reuters) – The European Union agreed on Tuesday on a new law to prevent companies from selling into the EU market coffee, beef, soy and other commodities linked to deforestation around the world. The law will require companies to produce a due diligence statement showing their supply chains are not contributing …

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Most Gulf equities track oil prices, global markets higher

Nov 30 (Reuters) – Most major Gulf equities closed higher on Wednesday, tracking global peers and oil prices higher on optimism over China demand recovery, while market focus also turned to US Federal Reserve chief Jerome Powell’s speech due later in the day. Most Gulf Cooperation Council countries, including Saudi Arabia, the United Arab Emirates …

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Global lenders eye coordinated assistance for Sri Lanka – government

COLOMBO, Dec 6 (Reuters) – Global lenders including the World Bank, the Asian Development Bank and the IMF are planning coordinated assistance to help Sri Lanka recover from its economic crisis, the government said on Tuesday. The island of 22 million people is in the midst of its worst financial crisis in more than seven …

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India’s capital blanketed in smog despite drop in stubble burning

NEW DELHI, Dec 5 (Reuters) – India’s capital, New Delhi, was engulfed in thick smog early on Monday as cooler weather exacerbated pollution, even though government data showed that crop residue burning in neighboring states had dropped significantly. Residents of New Delhi and its suburbs endure poor air every winter as colder, heavier air traps …

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China set to ease COVID curbs further as markets cheer change of tack

New nationwide COVID rules due as soon as Wednesday – sources The shift follows widespread demonstrations last month Yuan firms, global markets rally on China hopes HONG KONG/BEIJING, Dec 5 (Reuters) – China is set to announce a further easing of some of the world’s toughest COVID curbs as early as Wednesday, sources said, as …

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Bankman-Fried says he will testify before the US House committee

Dec 4 (Reuters) – FTX founder Sam Bankman-Fried tweeted on Sunday that he would testify before the House Financial Services Committee after he finished “learning and reviewing” the events that led to the spectacular collapse of his cryptocurrency exchange. The US House Financial Services Committee plans to hold a hearing in December to investigate the …

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