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Private credit markets and stablecoins need close monitoring, G20 watchdog tells leaders

LONDON (Reuters) -The boom in private credit markets and stablecoins warrants close monitoring, the Group of 20’s financial risk watchdog told leaders ahead of their summit in South Africa. In a letter to the G20 leaders published on Thursday, its Financial Stability Board Chair, Andrew Bailey, called for global efforts to “modernise and strengthen” financial …

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Bitcoin bears dominate: odds of year-end price below $90,000 rise

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The likelihood of bitcoin ending the year below $90,000 has risen to 50%, according to online options platform Derive.xyz, as traders ramped up hedging against more declines in the world’s largest cryptocurrency. On the other hand, the options market has assigned just a 30% chance of bitcoin finishing 2025 …

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Hungary’s MOL, refiner Slovnaft accuse Croatia’s JANAF of breach of contract

BUDAPEST (Reuters) -Hungarian oil group MOL and its Slovak subsidiary Slovnaft accused Croatian pipeline operator JANAF on Thursday of unilaterally changing its contract and jeopardising non-Russian fuel supplies. MOL said it and Slovnaft told the European Commission in a letter that JANAF would deliver crude oil already purchased and scheduled for delivery only if the …

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Siemens Energy to hand investors $11.5 billion as power market booms

By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF, Germany (Reuters) -Siemens Energy said on Thursday it plans to return up to 10 billion euros ($11.5 billion) to shareholders by the end of 2028 on the back of booming demand for power infrastructure equipment, lifting its shares to a record high. Up to 6 billion euros will …

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Factbox-Major deals involving U.S. drugmakers and biotechs over the past decade

(Reuters) -Abbott <ABT.N> is buying cancer test maker Exact Sciences <EXAS.O> in a $23 billion deal, including debt, to bolster the medical device maker’s cancer diagnostics business. The move adds to a growing list of high-profile transactions over the past decade by U.S. pharmaceutical companies to acquire promising therapies in fields ranging from oncology, neurology …

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Saudi Arabia, Stellantis exploring local vehicle manufacturing

By Tala Ramadan DUBAI (Reuters) -Saudi Arabia is exploring with global car maker Stellantis and Saudi auto products and services conglomerate Petromin Corporation, setting up vehicle manufacturing in the Gulf country, it said on Thursday. Saudi Arabia’s Ministry of Investment, the National Industrial Development Center (NIDC) and the two companies signed a memorandum of understanding …

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AI borrowing binge prompts investors to back away from corporate bonds

By Naomi Rovnick LONDON (Reuters) -A big tech borrowing bonanza and signs of strain in private credit are spooking bond market lenders to the world’s top-rated businesses, in a trend that could jolt funding costs higher, hit corporate earnings and add stress to twitchy global markets. A cross-market rout sparked by AI over-investment nerves and …

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Ocado’s robotic future under threat as Kroger looks to Instacart

By James Davey LONDON (Reuters) -U.S. retailer Kroger’s decision to close three of the eight automated warehouses it built with Ocado and expand its ties with the likes of Instacart and DoorDash highlights the challenge the British firm faces from rapid delivery firms. Ocado sells its cutting-edge technology to retailers like Kroger, allowing them to …

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Germany plans to boost funding for European Space Agency, says minister

BERLIN (Reuters) -Germany plans to significantly increase funding for the European Space Agency, with Research Minister Dorothee Baer set to pledge up to 5 billion euros ($5.76 billion) at the ESA’s conference in the north-western city of Bremen next week. “It will definitely be more than three years ago, when it was around 3.5 billion. …

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Exclusive-Qatar’s wealth fund shakes up London HSBC tower plans, sources say

By Iain Withers LONDON (Reuters) -Qatar’s sovereign wealth fund is revising plans for a revamp of its HSBC skyscraper in London’s Canary Wharf to retain more office space, prompted by a global rebound in demand as companies mandate a return to the office, two sources told Reuters. The Qatar Investment Authority (QIA) is weighing keeping up …

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