MONEY

Amazon staff strike in Germany on Prime Day extravaganza

Amazon employees went on strike at seven locations in Germany on Monday, demanding better wages as the online retail giant launched its two-day global shopping discount extravaganza called Prime Day.

AGENCE FRANCE-PRESSE, Jul 16 2019

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US firms may get nod to restart Huawei sales in two-four weeks

The US may approve licenses for companies to re-start new sales to Huawei in as little as two weeks, according to a senior US official, in a sign President Donald Trump’s recent effort to ease restrictions on the Chinese company could move forward quickly.

REUTERS, Jul 16 2019

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Asian markets mixed as China growth slows further

Asian markets recovered after an early stumble on Monday as data showed China’s economy growing at its weakest pace in nearly three decades, hit by the US trade war, while investors debated the depth of an expected Fed rate cut.

Jul 16 2019

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Zimbabwe inflation soars to 175 percent

Zimbabwe’s annual inflation rate hit 175 percent in June, official data showed on Monday, stoking fears of a return of the hyperinflation that wiped out savings ten years ago when the economy collapsed.

Jul 16 2019

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Europe’s GPS rival Galileo suffers outage

Europe’s Galileo satellite position system, a future rival of the American GPS network, has been out of service since Friday, its oversight agency said.

Jul 16 2019

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Empty nets as overfishing and climate change sap Lake Malawi

On the shores of Lake Malawi, a crowd eagerly awaits the arrival of a white and yellow cedarwood boat carrying its haul.

AGENCE FRANCE-PRESSE, Jul 16 2019

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UK banks say business investment slowing further ahead of Brexit

Britain’s major banks have seen a growing number of business customers delay decisions on investments and borrowing in recent weeks, as the probability of a disorderly exit from the European Union inches higher.

REUTERS, Jul 16 2019

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China GDP growth slows to 6.2pc in second quarter on weak global demand

China’s growth slowed to its weakest pace in almost three decades in the second quarter, with the US-China trade war and weakening global demand weighing on the world’s number-two economy, official data showed on Monday.

AGENCE FRANCE-PRESSE, Jul 16 2019

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Atlantia tipped to take Alitalia stake

Italy’s Atlantia group, owned by the Benetton family, is ready to take a stake in ailing flagship carrier Alitalia, as are three other new investors, Italian media reported Sunday.

AGENCE FRANCE-PRESSE, Jul 16 2019

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Huawei planning major job cuts in US

Chinese telecoms giant Huawei, which is subject to US sanctions over concerns about its ties to the government in Beijing, is planning to make major job cuts at its US operations, The Wall Street Journal reported Sunday.

Jul 16 2019

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Syria repairs gas pipeline after sabotage

The Syrian government said a gas plant resumed operations Monday after repairs to a key pipeline put out of service by a sabotage attack at the weekend.

Jul 16 2019

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Carmaker PSA in reverse as Chinese sales hit a wall

French carmaker PSA said Monday its sales slumped in the first half of the year as it pulled out of Iran and sales in China plunged by nearly two-thirds.

Jul 16 2019

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Hold the beers: Budweiser APAC IPO hit by investor push-back

Scepticism over AB InBev’s high valuations doomed Budweiser APAC’s IPO of up to $9.8 billion—poised to be the world’s biggest this year—investors and bankers said, putting would-be floats on notice that careful pricing remains key to success.

REUTERS, Jul 16 2019

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Oil prices edge higher on Chinese economic data

Oil prices rose slightly on Monday as Chinese industrial output and retail data topped expectations but gains were capped by overall figures showing the country’s slowest quarterly economic growth in decades.

REUTERS, Jul 16 2019

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Tech tax set to dominate G7 finance minisers meeting

A row over taxing tech giants is set to dominate a meeting of G7 finance ministers near Paris this week, with the world’s leading industrialised nations already riven by disruptive US trade policies.

AGENCE FRANCE-PRESSE, Jul 16 2019

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Bitcoin dips as scrutiny of cryptocurrencies grows

Bitcoin slumped more than 10 percent over the weekend to a two-week low as fears of a crackdown of cryptocurrencies grew on mounting scrutiny of Facebook’s planned Libra digital coin.

REUTERS, Jul 16 2019

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South Korea leader says Tokyo’s trade curbs will hurt Japan more

In his strongest comments yet on a growing trade dispute, South Korea’s president urged Japan on Monday to lift recently tightened controls on high-tech exports to South Korea, which he said threaten to shatter the countries’ economic cooperation and could damage Japan more than South Korea.

ASSOCIATED PRESS, Jul 16 2019

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Three days of non-stop torrential rain tops up Kulekhani reservoir

The torrential rain that fell nonstop for three days last week topped up the Kulekhani reservoir in mid-July for the first time in living memory.

PRAHLAD RIJAL, Jul 16 2019

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Tourist arrivals to Chitwan reach all-time high of 185,644

The number of foreign sightseers visiting the jungle safari destination of Sauraha, Chitwan reached an all-time high this fiscal year, making it one of the most visited tourist destinations in the country.

RAMESH KUMAR PAUDEL, Jul 16 2019

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‘They bombed our livelihoods’: Sri Lanka’s tourism firms struggle after attacks

Pearl Divers, a diving school on one of Sri Lanka’s most popular southern beaches, shut shop for two months after suicide bombers attacked churches and hotels on the island on Easter Sunday, killing about 250 people.

REUTERS, Jul 16 2019

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