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Telecom Italia to take legal action to stop Elliott

Bloomberg Telecom Italia SpA’s board said it will take every legal action necessary to block activist investor Elliott Management Corp. from pushing ahead with its own slate of directors at the company’s next shareholder meeting. Elliott, Telecom Italia’s second-biggest shareholder after Vivendi SA, wants to replace six Vivendi-backed directors at Italy’s former phone monopoly with its own candidates at the ...

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Glencore cancels Rusal share swap as CEO leaves board

Bloomberg Glencore Plc, the world’s largest commodities trader, started to loosen ties with Russian aluminum tycoon Oleg Deripaska after the US imposed harsh sanctions against his business empire. Glencore won’t proceed with a plan to swap its 8.75 percent stake in aluminum producer United Co. Rusal for shares in another one of Deripaska’s companies, London-listed En+ Group Plc. Chief Executive ...

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US will respond to Syria’s chemical attack ‘forcefully’, says Trump

Bloomberg President Donald Trump said the US will respond “forcefully” to a suspected chemical weapons attack by Syrian President Bashar al-Assad’s regime over the weekend, after suggesting earlier that Russian President Vladimir Putin may share responsibility. “We’re making a decision on what we do in respect to the horrible attack that was made near Damascus and it will be met ...

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Trump steps up Mueller attack over Russia probe

Bloomberg An FBI raid on his personal lawyer’s office cut close to home for Donald Trump, prompting an angry reaction from the president that revived fears he might do the unthinkable and fire Special Counsel Robert Mueller. “Attorney–client privilege is dead!,” Trump said early Tuesday in a posting on Twitter. He followed up with: “A TOTAL WITCH HUNT!!!” In an ...

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Macron not ready to wean France off ‘spending’

Bloomberg French President Emmanuel Macron’s first annual checkup with the European Union’s budget doctor won’t be pretty. His government, which may gain from accelerating growth, is postponing the spending cuts needed to narrow the structural budget gap as required by the European Commission, say two people with knowledge of documents being sent to Brussels this month. With elements of the ...

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Daughter of poisoned Russian spy released from UK hospital

Bloomberg The daughter of a Russian former double agent poisoned in southern England last month was discharged from hospital. Yulia Skripal, 33, was found collapsed on a bench in Salisbury alongside her father — Sergei Skripal — after being exposed to a nerve agent in an incident the British government blamed on Russia. Both patients have “responded exceptionally well” to ...

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Malaysia to vote on May 9 as Najib faces ex-premier

Bloomberg Malaysians will cast their vote on May 9 in what will be a showdown between caretaker Prime Minister Najib Razak and Mahathir Mohamad, the nation’s longest-serving premier. The campaign period will be shortened to 11 days, from 15 days in the 2013 election, with the nomination day for candidates set for April 28, Mohd Hashim Abdullah, chairman at the ...

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Ireland calls UK Brexit secretary’s comments ‘nonsense’

Bloomberg Ireland’s deputy prime minister assailed UK Brexit Secretary David Davis’ suggestion that Sinn Fein is influencing the Dublin government as “nonsense,” in the latest sign of tension between the two countries over the UK vote to leave the EU. The Irish government under Prime Minister Leo Varadkar has “quite a strong influence from Sinn Fein” when it comes to ...

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Donald Trump has lost the confidence of investors

US President Donald Trump likes to equate the rally in stocks since the November 2016 elections with confidence in him and his policies. And yes, the S&P 500 Index has surged 22% since then, but a deeper look at equities, bonds and the dollar reveals anything but trust in his stewardship. Here’s the executive summary: US companies are valued less ...

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Is the phony US-China trade war over?

With its plans to levy 25% tariffs on $50 billion of US products including soybeans, cars and aircraft, China looks to have stepped the simmering Trans-Pacific economic battle up a gear. The initial parries between Washington and Beijing resulted in little more than flesh wounds. There were a series of levies on steel and aluminum exports to the US, which ...

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