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Google’s Russian subsidiary to file for bankruptcy after bank account seized

May 18 (Reuters) – Google’s Russian subsidiary plans to file for bankruptcy after authorities seized its bank account, making it impossible to pay staff and vendors, but free services including search and YouTube will keep operating, a Google spokesperson said on Wednesday. The Alphabet Inc (GOOGL.O) unit has been under pressure in Russia for months …

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Architect of Allianz fraud made $ 60 million as he lied to investors, US says

FRANKFURT, May 17 (Reuters) – The star portfolio manager at the center of a fraud at the US funds unit of Allianz SE (ALVG.DE) relied on the German insurer’s good name to lure investors and thrived from a lack of oversight as he pocketed $ 60 million in pay, US authorities said. Gregoire “Greg” Tournant, …

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Stock bounce fades and the dollar gains as growth fears return

LONDON, May 18 (Reuters) – A rebound in stocks ran out of steam on Wednesday as concerns about the economic growth outlook and rising inflation knocked sentiment, while a UK inflation reading of 9% underlined just how much higher interest rates might be headed. European shares were mostly lower and futures on Wall Street pointed …

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UK inflation hits 40-year high of 9.0%, squeezing households harder

UK April inflation rate likely highest in G7 Household energy bills drive up inflation Anti-poverty campaigners demand government action Inflation likely to rise further LONDON, May 18 (Reuters) – British inflation surged last month to its highest annual rate since 1982, pressuring finance minister Rishi Sunak to offer more help for households and the Bank …

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Iraq balks at greater Chinese control of its oilfields

Iraq persuaded Lukoil to halt sale to Sinopec – sources Baghdad concerned China becoming too dominant – sources Western firms not happy with terms of Iraqi deals LONDON / BASRA, May 17 (Reuters) – Iraq’s oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over its oilfields and …

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Analysis: European dealmakers face shrinking debt options as recession risk looms

M&A financing seen as costlier and harder to access Investors flee junk bond market amid monetary tightening Riskier debt sales down 77% so far this year Morrisons underwriters take a hit – source Private lenders step in with uptick in hybrid financing LONDON, May 16 (Reuters) – European dealmakers are struggling to finance corporate takeovers …

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Stocks, oil slip as dire China data feed recession fears

Traders are seen in front of a screen with trading figures in red at Thailand Stock Exchange building in Bangkok, Thailand March 13, 2020. REUTERS / Juarawee Kittisilpa / Files Register now for FREE unlimited access to Reuters.com Register Asian stock markets: China retail sales dive 11.1%, output drops 2.9% Nikkei pares gains, S&P 500 …

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Asian shares quarter weekly losses, dollar steady near 20-year highs

A man holding an umbrella looks at an electronic stock quotation board outside a brokerage in Tokyo April 7, 2015. REUTERS / Issei Kato Register now for FREE unlimited access to Reuters.com Register MSCI Asia ex-Japan + 1.8%, Nikkei + 2.64% European shares set for stronger open Worries over inflation, tightening policy remain Dollar hovers …

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