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Ackman names Ryan Israel as Pershing Square’s investment chief

20 Aug 2022

(Reuters) – Billionaire investor William Ackman on Friday named insider Ryan Israel as the chief investment officer for his hedge fund Pershing Square Holdings Ltd. Israel joined Pershing from Goldman Sachs in 2009. Ackman also said that he will continue as chief executive officer and portfolio manager for Pershing with continued control over “ultimate decision …

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Wizz Air suspends relaunch of Russia-UAE flights as criticism mounts

20 Aug 2022

DUBAI (Reuters) – European budget carrier Wizz Air has suspended plans to resume flights from the Russian capital of Moscow to Abu Dhabi in the United Arab Emirates, amid mounting criticism over the relaunch decision this month. In Friday’s statement deferring the flights until further notice, Wizz Air made no mention of the social media …

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Greece’s exit from enhanced EU scrutiny ends 12 years of pain – PM

20 Aug 2022

ATHENS (Reuters) – Greece’s exit on Saturday from the European Union’s so-called enhanced surveillance framework for its economy ends 12 years of pain and allows the country greater freedom in policy making, its prime minister said. Greece’s economic performance and policies have been closely monitored under the framework since 2018 to ensure it implemented reforms …

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ECB must keep raising rates as inflation will stay too high: Nagel

20 Aug 2022

FRANKFURT (Reuters) – The European Central Bank must keep raising interest rates even if a recession in Germany is increasingly likely, as inflation will stay uncomfortably high all through 2023, Bundesbank President Joachim Nagel told a German newspaper. The ECB raised interest rates by an unexpectedly large 50 basis points to zero percent last month …

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Britain sets out roadmap for self driving vehicle usage by 2025

20 Aug 2022

LONDON (Reuters) – Britain said on Friday it wanted a widespread rollout of self-driving vehicles on roads by 2025, announcing plans for new laws and 100 million pounds ($119.09 million) of funding. The government said it wanted to take advantage of the emerging market for autonomous vehicles, which it valued at 42 billion pounds and …

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Nord Stream 1 pipeline to shut for three days in latest fuel blow to Europe

20 Aug 2022

By Christoph Steitz and Thomas Escritt FRANKFURT/BERLIN (Reuters) -Russia will halt natural gas supplies to Europe for three days at the end of the month via its main pipeline into the region, state energy giant Gazprom said on Friday, piling pressure on the region as it seeks to refuel ahead of winter. The unscheduled maintenance …

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U.S. dollar net longs rise; euro shorts hit biggest since February 2020 -CFTC, Reuters data

19 Aug 2022

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -Speculators’ net long positioning on the U.S. dollar rose in the latest week, while net shorts on the euro increased, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position climbed to $13.37 billion in the …

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Derivatives committee to hold Russia CDS auction in September -statement

19 Aug 2022

(Reuters) -A panel of investors said on Friday that it expects to hold an auction to settle credit default swaps (CDS) related to Russia’s defaulted debt in the first half of September, as it continues to work on the auction setup. The Credit Derivatives Determinations Committee (CDDC) said the exact date is yet to be …

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Canada says hydrogen better than LNG for German needs

19 Aug 2022

By Steve Scherer OTTAWA (Reuters) – Providing clean hydrogen to Germany and the rest of Europe is a better opportunity for Canada than trying to build liquefied natural gas (LNG) terminals as the world moves away from fossil fuels, said Canada’s natural resources minister late on Thursday. Canada and Germany are discussing building LNG terminals …

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