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US labor market starts to cool; job openings post biggest drop in nearly 2-1/2 years

Job openings fall 1.1 million to 10.053 mln in August Healthcare, retail trade lead decline in vacancies Quits, layoffs, hiring increase moderately WASHINGTON, Oct 4 (Reuters) – US job openings fell by the most in nearly 2-1/2 years in August, suggesting that the labor market was starting to cool as the economy grapples with higher …

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Stocks and the pound rally after UK’s tax U-turn injects some confidence

Britain scraps part of tax plan; markets relieved Reserve Bank of Australia surprises with a small hike Lower Treasury yields weigh on dollar LONDON, Oct 4 (Reuters) – Global stocks rallied for a second day on Tuesday, after Britain’s decision to ditch part of a controversial tax-cut plan and slightly paler expectations for aggressive central …

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PlayStation eyes new investment for PC, mobile push

TOKYO, Oct 4 (Reuters) – Sony Group Corp’s (6758.T) gaming business is looking at fresh investment to bolster its push into PC and mobile, a senior executive said, as the PlayStation 5 maker competes for talent with deep-pocketed rivals and as industry dealmaking heats up. “Further investments in areas that will strengthen the expansion on …

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China’s Xiaomi says it will protect its business interests after India freezes its assets

MUMBAI, Oct 3 (Reuters) – Chinese smartphone maker Xiaomi Corp (1810.HK) on Sunday said it was “disappointed” with an Indian order that froze $682 million of its assets and would continue to protect its interests. An Indian appellate authority on Friday confirmed an April order by India’s federal financial crime fighting agency, the Enforcement Directorate, …

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Analysis: Under water: how the Bank of England threw markets a lifeline

Bank of England bought bonds after pension fund pleas Some UK pension funds faced problematic margin calls BoE support seen as giving window to build collateral British government’s unfunded tax plan spooked markets LONDON/NEW YORK, Oct 2 (Reuters) – Calls to the Bank of England saying some British pension funds were struggling to meet margin …

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UK pension funds ask corporates for cash after gilt blow-up -sources

LONDON, Sept 30 (Reuters) – British pension funds with big losses in gilt market derivatives have sought emergency funds from the companies they manage money for as they race to dump assets to raise cash, industry sources said on Friday. Many pension funds were caught out during the surge in bond yields this week that …

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Barclays hit by $361 million US penalty for ‘staggering’ blunder

Sept 30 (Reuters) – British lender Barclays (BARC.L) agreed a $361 million penalty with US regulators on Thursday for “staggering” failures that led it to oversell $17.7 billion of structured products, racking up further costs for an error that has blighted CEO CS Venkatakrishnan’s first year in charge. Barclays shares rose 2% in early trading …

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Britain’s market rout stokes contagion fears around the globe

NEW YORK/LONDON, Sept 28 (Reuters) – The scale and speed of the sell-off in British assets has jolted world markets, raising concern about contagion as chaos in a major developed economy adds to unease already generated by sharp interest rate rises from the United States and elsewhere. Following Friday’s UK mini-budget, which flagged 45 billion …

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Stocks hit 2020 lows as fears of recession build; investors beat sterling

Global equities hit 2-year lows US benchmark yields top 4% for first time since 2010 Sterling drops as UK’s economic strategy comes under fire LONDON, Sept 28 (Reuters) – Global shares sank to two-year lows on Wednesday as surging borrowing costs and a worsening energy crisis intensified fears that the world could tip into recession, …

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