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Wife of Kennedy nephew joins race to oust New Jersey congressman who switched parties

(Reuters) – The wife of a Kennedy nephew and former congressman on Monday joined the race to win the New Jersey seat held by U.S. Representative Jeff Van Drew, the erstwhile Democrat who joined President Donald Trump in the Oval Office last month to say he was switching parties. Amy Kennedy, a former teacher who […]

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Portugal puts 2020 net borrowing needs at around 9.5 billion euros

LISBON (Reuters) – Portugal’s net borrowing needs this year are expected to total nearly 9.5 billion euros ($10.62 billion), the state debt agency IGCP said on Monday, putting gross government bond issuance at 16.7 billion euros. The bond issuance will be carried out via a combination of syndicated operations and monthly auctions, it added. ($1 […]

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Romania’s president signs budget into law: PM

BUCHAREST (Reuters) – Romania’s president Klaus Iohannis on Monday signed the 2020 budget bill, with a deficit target of 3.6% of gross domestic product, into law on Monday, the prime minister said. “We have a budget. We welcome president’s move to sign the state and the social security budget into law,” Ludovic Orban told reporters […]

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Egypt shuts two Mediterranean ports because of bad weather

ALEXANDRIA (Egypt) (Reuters) – Egypt on Monday shut the harbors of two of its Mediterranean ports, Alexandria and Dekheila, as bad weather forced the second closure within a few days. High waves and wind speeds prevented ships from entering or leaving the ports safely, the Alexandria Port Authority said. The coastal port city is witnessing […]

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Saudi credit default swaps soar on U.S.-Iran crisis

By Davide Barbuscia and Saeed Azhar DUBAI (Reuters) – The cost of insuring against a potential debt default by Saudi Arabia has soared by a sixth since Friday’s killing by a U.S. drone of Iranian commander Qassem Soleimani, bearing the brunt of a broader reaction in Middle Eastern markets. Conventional spreads on five-year Saudi credit […]

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U.S. states must target gas, oil use to meet climate goals: report

By Valerie Volcovici WASHINGTON (Reuters) – Ten U.S. states, led by New York, California and Illinois, account for 56% of carbon emissions from buildings nationwide, a major source of greenhouse gas emissions that needs to be tackled over the next decade to combat climate change, according to a report released on Monday. The Rocky Mountain […]

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Egypt sells $865 million in one-year T-bills at average yield of 3.54%

CAIRO (Reuters) – Egypt sold $865 million in one-year, dollar-denominated T-bills on Monday at an average yield of 3.54%, the central bank said. The bills are due to be settled on Tuesday and mature on Jan. 5, 2021. T-bills worth $854.1 million and issued one year ago are due to mature on Tuesday. (Reporting by […]

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Private equity’s talent challenge: Keeping it out of the family

By Chibuike Oguh (Reuters) – Family offices, which handle the wealth of the very rich and their kin, are increasingly poaching young talent from buyout firms, challenging the private equity industry’s claim as the destination of choice for aspiring dealmakers. The five executive headhunting firms with the biggest market share on Wall Street – Korn […]

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Heading south: Emerging central banks cut rates for 11th month in December

By Karin Strohecker and Ritvik Carvalho LONDON (Reuters) – Emerging market policymakers continued their easing cycle in December, joining major central banks in efforts to shore up their economies. Interest rate moves by central banks across a group of 37 developing economies showed a net six cuts last month after a net eight cuts in […]

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Firearms maker Ceska Zbrojovka considers IPO to fund U.S. expansion

PRAGUE (Reuters) – Czech firearms maker Ceska Zbrojovka Group (CZG) said on Monday it was considering listing its shares on the Prague Stock Exchange among options to finance its expansion. The company, which makes handguns and rifles, had earlier announced plans to build a production and distribution plant in Little Rock, Arkansas, as part of […]