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EU gives itself three more years to end euro clearing reliance on London

18 Jan 2022

By Huw Jones LONDON (Reuters) -The European Union will extend permission for banks in the bloc to continue using clearing houses in London for a further three years from June while efforts to end “over-reliance” on Britain are stepped up, its financial services chief said on Tuesday. The European Union wants to directly supervise clearing …

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Bidders for Germany’s Aareal Bank lower acceptance threshold

18 Jan 2022

FRANKFURT (Reuters) -Bidders for Germany’s Aareal Bank on Tuesday lowered the threshold for acceptance of their offer, giving investors a further two weeks to decide as the suitors try to overcome opposition to the proposed $1.9 billion takeover. By Monday evening fewer than 5% of investors had accepted the offer, far short of the 70% …

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Netflix earnings to set the pace for 2022 streaming wars

18 Jan 2022

By Dawn Chmielewski and Lisa Richwine LOS ANGELES (Reuters) – Netflix Inc will be the first major streaming service to report earnings this week, offering investors a sign of whether companies have started to pull in enough new customers to justify big spending on online programming in 2022. The dominant streaming service reports fourth-quarter results …

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Soil-free farming group Vertical Future valued at 100 million stg after fundraising

18 Jan 2022

By James Davey LONDON (Reuters) -Vertical Future, which grows crops without soil and with artificial light, said on Tuesday it had secured 21 million pounds ($29 million) in what it said was Europe’s largest ever “Series A” fundraising in the emerging vertical farming sector. The company said the funding round gave it a valuation of …

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Exclusive-Turkish bank employees compelled to boost lira-defence scheme -sources

18 Jan 2022

By Ebru Tuncay and Orhan Coskun ISTANBUL (Reuters) – Turkey’s big state banks have set employee performance targets as they urge clients to convert foreign currencies into lira under a deposit-protection plan introduced last month to stem a currency crisis, according to people familiar with the effort. More than half a dozen bankers, customers and …

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Japan PM: Abenomics did not create sustainable economy

18 Jan 2022

TOKYO (Reuters) -Japanese Prime Minister Fumio Kishida said on Tuesday that steps taken under former premier Shinzo Abe’s “Abenomics” policy of massive monetary and fiscal stimulus were not enough to create a sustainable and inclusive economy. Under his “new capitalism” policy, Kishida aims to help create a virtuous cycle of economic growth and wealth distribution, …

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Tennis-Raducanu survives Stephens test on Australian Open debut

18 Jan 2022

MELBOURNE (Reuters) -Britain’s teenage sensation Emma Raducanu cleared a dangerous first-round hurdle at the Australian Open, seeing off experienced American Sloane Stephens 6-0 2-6 6-1 in a topsy-turvy contest on Tuesday. Raducanu, who rocketed to fame in September with a fairytale run to the U.S. Open title as a qualifier without dropping a set in …

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