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Wall Street ends lower as investors digest economic data

US producer prices increase in November Consumer sentiment improves in December Lululemon tumbles after downbeat forecast Indexes close: S&P 500 -0.73%, Nasdaq -0.70%, Dow -0.90% Dec 9 (Reuters) – Wall Street ended lower on Friday as investors assessed economic data and awaited a potential 50-basis point interest rate hike by the US Federal Reserve at …

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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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Keystone pipeline shut down after oil release into Kansas creek

Dec 8 (Reuters) – Canada’s TC Energy (TRP.TO) on Thursday said it shut the 622,000 barrel-per-day Keystone pipeline and was responding to an oil release into a creek about 20 miles south of Steele City, Nebraska. An emergency shutdown and response was initiated at about 8 pm CT on Dec. 7 after alarms and a …

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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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Amazon shopping site back up after outage

Dec 7 (Reuters) – Amazon.com Inc (AMZN.O) said it has resolved an issue that prevented some users from accessing the shopping site on Wednesday. “We’re sorry that some customers may have temporarily experienced issues while shopping. We have resolved the issue,” a company spokesperson told Reuters, but did not provide any details on what caused …

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Elon Musk briefly loses title as world’s richest person to LVMH’s Arnault – Forbes

Dec 7 (Reuters) – Twitter owner and Tesla (TSLA.O) boss Elon Musk briefly lost his title as the world’s richest person on Wednesday, according to Forbes, following a steep drop in the value of his stake in the electric-car maker and a $44 billion bet on the social media firm. Bernard Arnault, the chief executive …

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Blackstone’s credit fund reaches withdrawal limit

NEW YORK, Dec 6 (Reuters) – Blackstone Inc (BX.N) said redemptions from its $50 billion non-traded business development company reached its pre-set limit for the first time but investors were still allowed to cash out on their investments. This is the first time redemption requests had reached the pre-set limit of 5% since Blackstone launched …

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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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Apple and Amazon resume advertising on Twitter, reports say

Dec 3 (Reuters) – Amazon.com Inc (AMZN.O) and Apple Inc (AAPL.O) are planning to resume advertising on Twitter, according to media reports on Saturday. The developments follow an email sent by Twitter on Thursday to advertising agencies offering advertisers incentives to increase their spending on the platform, an effort to jump-start its business after Elon …

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