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European stocks rebound on mixed manufacturing data

  London / AFP Europe’s main stock markets rebounded on Thursday following a weak finish to August, as traders digested worldwide manufacturing numbers. Around 1030 GMT, London’s benchmark FTSE 100 index was 0.1 percent higher. In the eurozone, Frankfurt’s DAX 30 rose 0.6 percent and the Paris CAC 40 jumped 1.1 percent compared with Wednesday’s close. “The FTSE is underperforming… ...

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Qatar falls after FTSE list, Saudi petchems sag

  Dubai / Reuters Qatar’s main stock index fell in early trade on Thursday after FTSE published a list of stocks to be included in its secondary emerging market index, while Saudi Arabian petrochemical stocks sagged because of weak oil prices. The Qatari index initially rose but was down 0.8 percent after 90 minutes. Only two of the 22 stocks ...

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It’s hard to overstate how quiet stock markets are right now

  Bloomberg Calm has been the defining characteristic of markets over the past month, but in one asset class the degree of tranquility stands head and shoulders above the rest. Compared to the 10-year U.S. Treasury futures note, the 30-day implied volatility of equities is incredibly subdued relative to its historical average. The same can’t really be said of oil, ...

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India’s Reliance Jio to offer free voice calls

Bloomberg Billionaire Mukesh Ambani said his Reliance Jio Infocomm Ltd. unit will offer mobile phone calls for free, pressuring existing carriers to follow suit in what’s already one of the world’s lowest-priced wireless markets. Jio’s service will debut Sept. 5 and will be free until December, after which the company will begin charging subscribers as little as 149 rupees ($2.22) ...

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China’s top steel mills warn on outlook

  Bloomberg The good times in the world’s top steel producer may not last long. China’s biggest mills including Hesteel Co. Ltd. are warning that the improved conditions and rising prices in the first half that helped them to lift earnings may soon be about to give way. “Industry prospects are not optimistic,” Hesteel, the listed unit of China’s biggest ...

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Japan’s company profits fall, capital expenditure remains weak

  Bloomberg Japan’s capital expenditure data for the second quarter was slightly weaker than expected while company profits slumped as businesses held tight on spending amid a strong yen and sluggish demand at home and abroad. Capital expenditure rose 3.1 percent from a year earlier ( forecast 5.5 percent). Spending excluding software increased 3.1 percent over the same period ( ...

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China’s factory gauge rises to highest since 2014

  Bloomberg China’s official factory gauge unexpectedly rose last month to the highest level in almost two years, suggesting the economy’s stabilization remains intact and that a weakening in July was flood-related and temporary. Manufacturing purchasing managers index rose to 50.4 in August from July’s 49.9 and compared to the 49.8 median estimate of economists surveyed by Bloomberg. Non-manufacturing PMI ...

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Oz lower jobless rate masks record underemployment

  Bloomberg The strength of Australia’s jobs market is being overstated by a surge in casual positions and an inability by workers to secure more hours. While the unemployment rate fell to 5.7 percent in July from 6.3 percent a year earlier, 87 percent of the jobs created in that period were part-time: a definition that covers anything from 1 ...

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Samsung expands payment business to smartwatches

  Bloomberg Samsung Electronics Co. unveiled its new wristwatch device in Berlin, which includes support for contactless payments, as the company pushes to catch up to Apple Inc. in a still nascent market of wearable products. At the IFA technology tradeshow, the world’s biggest smartphone maker introduced the Gear S3 Classic and Gear S3 Frontier — two variations of the ...

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Twitter jumps after co-founder says company has to consider M&A

  Bloomberg Twitter Inc. jumped as much as 5.8 percent, the most in two weeks, after co-founder Ev Williams said in an interview with Bloomberg TV that the company has to weigh all options amid ongoing speculation it’s a takeover target. Williams initially declined to comment when asked by Bloomberg’s Emily Chang whether Twitter can remain an independent company. He ...

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