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Bloomberg Chanting “Yes, we can!†along with thousands of supporters, Argentine President Mauricio Macri pledged to lift salaries and economic growth as he began a final bid to come back in the polls ahead of a presidential vote next month where his chances of victory have been largely written off. “This election can be turned around,†Macri told the crowd ...
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September, 2019
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29 September
Boris Johnson says won’t quit if exit day is delayed
Bloomberg UK Prime Minister Boris Johnson suggested he won’t quit if he fails in his defining mission to deliver Brexit by the end of October. In an interview with the BBC, he refused to back down over his use of military terms to describe the opposition to his Brexit strategy, while facing questions over his alleged links to a businesswoman ...
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29 September
Credit Suisse saga exposes banker-surveillance state
Bloomberg The scene: a street in Zurich. The mark: a wealthy Swiss banker. His pursuers: hired goons looking for intel. It sounds like something ripped from John Le Carre. In fact, it’s real-life — and not all that unusual in the world of high finance. News that Credit Suisse Group AG had hired private investigators to tail a star banker ...
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29 September
Bad loans prompt India to sanction bank that’s seeking merger
Bloomberg India’s central bank placed lending restrictions on Lakshmi Vilas Bank Ltd, adding to the company’s troubles after its chief executive officer abruptly quit last month and police registered a case of alleged fraud. Lakshmi Vilas Bank, which is seeking a merger with financier Indiabulls Housing Finance Ltd to reduce its delinquent debt, was informed it would be brought under ...
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29 September
Greece needs lower fiscal targets: IMF
Bloomberg A reduction of Greece’s fiscal targets would support the country’s economic and social recovery, the International Monetary Fund said. In 2020, the IMF recommends that “the government and European partners build consensus around a lower primary balance path, given ample economic slack and critical unmet social spending and investment needs,†according to the fund’s statement after the conclusion of ...
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29 September
Jefferies hit by $146m WeWorks writedown
Bloomberg Jefferies Financial Group Inc’s earnings took a hit from an unlikely source: WeWork’s dropping valuation. Third-quarter revenue came in below even the lowest analyst expectationas the company’s merchant banking unit wrote down the value of its investment in We Co by $146 million. Net revenue fell slightly to $777 million despite increases in both fixed-income and equities trading, Jefferies ...
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29 September
Post-crisis rules may hold answer to ‘one mystery’ in US
Bloomberg Behind-the-scenes regulatory requirements imposed on the largest US banks may help explain one mystery spawned by recent turmoil in an obscure, but important, slice of the multitrillion-dollar money market. Dealers and policy makers alike have wondered why big banks didn’t step in as rates on overnight repurchase agreements soared to record highs. Those banks have about $1.4 trillion deposited ...
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29 September
Dueling Glaxo, Astra drugs show wider benefits in ovarian cancer
Bloomberg Britain’s two largest drugmakers, betting on a new generation of cancer treatments that block tumor cells from fixing their damaged DNA, showed that these medicines work in a broad swath of patients. Women with ovarian cancer treated with GlaxoSmithKline Plc’s drug Zejula had a 38 percent reduction in the risk of dying or seeing the disease progress, the company ...
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29 September
Swiss economy in difficult phase: Minister
Bloomberg Switzerland’s government is bracing for a possible recession as the country’s economy goes through a difficult period and faces substantial risks, economy minister Guy Parmelin told a newspaper. “There are several signs pointing to a slowdown,†Parmelin told Schweiz am Wochenende. “The trade war between the US and China, the blockade of the WTO, the stagnating economy in Germany ...
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29 September
US’s social media firms must share messages with UK
Bloomberg Social media platforms based in the US including Facebook and WhatsApp will be forced to share users’ encrypted messages with British police under a new treaty between the two countries, according to a person familiar with the matter. The accord, which is set to be signed by next month, will compel social media firms to share information to support ...
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