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BlackRock posts 40% jump in quarterly profit

(Reuters) – BlackRock Inc <BLK.N>, the world’s largest asset manager, reported a 40.3% rise in fourth-quarter profit on Wednesday, as more money rolled into its low-risk exchange-traded funds and cash management business amid concerns of slowing global growth. The New York-based company’s net income rose to $1.30 billion, or $8.29 per share, in the three […]

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As Aramco hails record IPO, Abu Dhabi’s ADNOC whips up $19 billion

By Rania El Gamal and Davide Barbuscia Dubai (Reuters) – The talk’s all been about Saudi Aramco, and the suspense of its historic drive to whip up international cash. But, more quietly, its Gulf oil peer ADNOC has also been courting foreign funds – and its efforts compare favorably. Like Saudi Arabia, Abu Dhabi’s economy […]

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Exclusive: India plans new law to protect foreign investment – sources

By Aditi Shah and Aftab Ahmed NEW DELHI (Reuters) – India is planning a new law to safeguard foreign investment by speeding up dispute resolution, aiming to attract more capital from overseas to boost stuttering domestic growth, two officials with direct knowledge of the matter told Reuters. In a 40-page initial draft, India’s finance ministry […]

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China fourth quarter growth seen hovering at 6.0%, more policy support expected: Reuters poll

By Kevin Yao and Gabriel CROSSLEY BEIJING (Reuters) – China’s economic growth likely hovered at its weakest in nearly 30 years in the fourth quarter as demand at home and abroad remained sluggish, though there were some signs of improvement late in the year as trade tensions with the United States eased. The world’s second-largest […]

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Retailers Chow Tai Fook, Sa Sa to trim store networks in Hong Kong tourist areas

HONG KONG (Reuters) – Hong Kong retailers are retreating from the city’s protest-hit tourist areas as visitor arrivals drop, with a top jeweler and cosmetics chain pulling out of prime shopping districts such as Causeway Bay and Tsim Sha Tsui. Jewellery chain operator Chow Tai Fook Jewellery Group Ltd <1929.HK> said on Wednesday it would […]

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Bank of England’s Saunders warns of risk of low inflation trap

By David Milliken BANGOR, Northern Ireland (Reuters) – Bank of England interest-rate setter Michael Saunders warned on Wednesday that Britain risks getting stuck in a low-inflation trap if the central bank does not take early action to boost the economy. Saunders, one of the two top BoE officials who voted to cut rates in late […]

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Exclusive: ‘I’m happy he did it’ – in Beirut, wife of fugitive Ghosn slams Japanese justice

By Alessandra Galloni and Samia Nakhoul BEIRUT (Reuters) – Carlos and Carole Ghosn, the former first couple of carmaker Nissan, are united again in Beirut. They hold hands in the street and whisper together in a mix of Arabic and French. They kiss. But the pair’s most visceral display of unity comes when they talk […]

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Ghosn says French envoy told him Nissan was turning against him

BEIRUT (Reuters) – Former Nissan chairman Carlos Ghosn, speaking in Beirut after his dramatic escape from Japanese justice, said on Tuesday that the French ambassador had warned him shortly after his arrest that his own company was plotting against him. “Frankly, I was shocked by the arrest and the first thing I asked is make […]

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BOJ cuts economic view on three regions, stays cautiously optimistic

By Tetsushi Kajimoto TOKYO (Reuters) – The Bank of Japan cut its economic assessment for three of the country’s nine regions on Wednesday but remained cautiously optimistic that domestic demand could help offset a slowdown in exports and manufacturing. All of the regions kept their assessment on private consumption unchanged, despite fluctuations in spending patterns […]

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UK inflation hits more than three-year low, raising pressure on BoE

By Andy Bruce and Paul Sandle LONDON (Reuters) – British inflation sank unexpectedly to a more than three-year low in December as hotels slashed prices, ramping up expectations that the Bank of England will cut interest rates as soon as this month. Consumer prices rose by 1.3% in annual terms compared with 1.5% in November, […]