Pilots flying Amazon planes say company might not deliver

  Bloomberg Union pilots who fly products for Amazon.com Inc. are taking concerns about pay, working conditions and staffing shortages directly to online shoppers with a digital marketing blitz that suggests the internet retailer may struggle to deliver holiday gifts on time. The union is running advertisements on Facebook and Google, targeting Amazon customers. If clicked on, the ads send ...

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Deutsche Bank to pay $37mn for fraudulent order routing practices

  Bloomberg Deutsche Bank AG agreed to pay $37 million and admit to misleading customers about its dark pool stock-trading platforms to settle a joint state and federal probe, bringing the bank a step closer to resolving several potentially costly legal challenges in the US. The bank will admit to violating state and federal securities laws over a two-year period ...

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Don’t politicise monetary policy, says Bundesbank chief

  Frankfurt am Main / AFP The European Central Bank must stick to its price stability mandate and not be swayed by politics, Germany’s top central banker said, warning against extending loose monetary policy for too long. “The impression must not be allowed to arise that central banks will step into the breach for politicians or that monetary policy is ...

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Oman central bank not to follow Fed’s rate decision

  MUSCAT / Reuters Oman’s central bank won’t automatically imitate last week’s interest rate hike by the US Federal Reserve, central bank executive president Hamood Sangour Al Zadjali said on Sunday. Oman is the only member of the six-nation Gulf Cooperation Council not to announce an official interest rate rise in the wake of the Fed’s 0.25 percentage point increase. ...

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Saxo Bank enhances trading options

  Emirates Business Saxo Bank, the online multi-asset trading and investment specialist, announces that it is launching a combination order ticket for all clients trading contract options. The combination order ticket will enable clients to deploy multi-legged option strategies by simultaneously placing orders to buy and/or sell different options from the same order ticket. Georgio Stoev, Futures and Listed Options ...

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Iceland cuts interest rate as currency advances

Reykjavik / AFP Iceland’s central bank on Wednesday shaved its key interest rate by a quarter of a point to 5.0 percent, citing the krona’s appreciation and political uncertainty following the country’s October elections. Gross domestic product, business investment growth and export growth had all been stronger than projected for the first nine months of the year, the bank noted. ...

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JPMorgan plans structured-note sales via web to cut costs

Bloomberg JPMorgan Chase & Co. is looking to sell structured notes online and is building a website that will help retail brokers offer the securities, according to people with knowledge of the matter, as the largest US bank looks to cut its costs for selling bonds. The bank plans to launch its site as soon as the middle of next ...

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‘Witness to history’ opens to public

  Dhaka / AFP Many of Bangladesh’s most significant political prisoners have been incarcerated within the walls of the two-century old Dhaka Central Jail. Now the prison that has borne witness to much of the country’s brutal history has opened to the public as a museum. The last inmates of the 228-year-old prison in the capital’s old Mughal quarters were ...

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Influx of Chinese investors angers Madagascans

  Soamahamanina / AFP The mine had not yet opened, but Madagascans were already seething with rage and the Chinese management finally quit Soamahamanina, leaving behind empty tents and cigarette butts. For months, this small city in central Madagascar was engulfed by protests targeted at a Chinese gold mining company, Jiuxing. Every Thursday, city residents would take to the streets ...

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Export ban threatens copper supply from Indonesian mine

  Bloomberg Exports from the world’s second-largest copper mine in Indonesia are under threat as a government ban on overseas concentrate shipments is scheduled to come into force from the middle of January. While ministers are rushing to revise the regulations so miners that have committed to build smelters can continue to export ore concentrates, an intermediate product used to ...

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