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China growth mystery scares global economy in weakest shape in years

Bloomberg The growing mystery of where China’s rapid slowdown is headed may become the biggest risk on the horizon, even as Brexit and a solution to US-China trade tensions are kicked into the long grass. The global economy’s in its weakest shape since the financial crisis a decade ago, Bloomberg Economics analysis shows. And the reminders are all around: China ...

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China’s Royole seeks $1bn in funding round

Bloomberg Royole Corp., a maker of flexible displays, is seeking about $1 billion in a funding round ahead of an initial public offering, people familiar with the matter said. The Shenzhen, China-based company is seeking a valuation of at least $8 billion in the round as it seeks to expand its sales and marketing and research facilities, the people said, ...

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India trade deficit narrows in Feb

Bloomberg India’s trade deficit narrowed more than estimated in February from a month ago, as imports fell owing to a sharp drop in oil purchase cost. The gap between exports and imports was $9.6 billion last month, compared with $14.7 billion in January, data released by the commerce ministry showed. The deficit is narrower than the $13.7 billion median estimate ...

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Senior Nissan, Mitsubishi executives exit

Bloomberg Executives from Nissan Motor Co. and Mitsubishi Motors Corp. are exiting as part of a wider shuffle among the top ranks of the Japanese automakers’ alliance with Renault SA following the arrest of Carlos Ghosn in November. Arun Bajaj, the alliance’s senior vice president for human resources, exited Nissan as of March 11 after a leave of absence, the ...

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Hong Kong plans to spend $6.4 billion to defend currency peg

Bloomberg This round of currency intervention in Hong Kong is far from over. That’s according to analysts, who’re watching the interplay between the amount of money in the city’s financial system and local borrowing costs. Shorting the Hong Kong dollar will remain profitable until the latter starts to go up sharply, and the monetary authority will spend at least another ...

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New Zealand to change gun laws after mosque massacre

Bloomberg New Zealand Prime Minister Jacinda Ardern said she will change gun laws as the country reels from a terrorist attack at two mosques that left 49 people dead and several still fighting for their lives. “While the nation grapples with a form of grief and anger that we have not experienced before, we are seeking answers,” Ardern told a ...

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Indonesia’s anti-graft agency names key Joko Widodo ally as suspect

Bloomberg The head of an Indonesian political party backing President Joko Widodo’s bid for a second term has been named a suspect in a graft case involving job postings at the Religious Affairs Ministry. A politician only identified by his initials RMY, and two ministry officials are suspects, said Laode Muhammad Syarif, deputy of the Corruption Eradication Commission, in a ...

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Trump issues first veto on bill to block border emergency

Bloomberg President Donald Trump issued his first veto, rejecting Congress’s effort to cancel his declaration of a national emergency to pay for a wall on the US-Mexico border, a centerpiece of his 2016 campaign. “Congress passed a dangerous resolution that, if signed into law, would put countless Americans in danger,” Trump said just before signing the veto in the Oval ...

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Europe’s populists set for slap in Slovak vote

Bloomberg An election in the heart of the European Union’s increasing populist eastern wing is poised to deliver a different kind of anti-establishment triumph. Sandwiched between Poland and Hungary — perennial thorns in the side of Brussels officials —Slovakia is set to pick as president an NGO lawyer who backs EU integration, vows to fight nationalism and wants to rebuild ...

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