Britain’s Aveva Group said on Tuesday it had agreed to combine with Schneider Electric‘s software business to create a London-listed leader in industrial software worth more than 3 billion pounds ($3.88 billion). France’s Schneider will take a 60 percent stake in the enlarged group under the terms of the deal, which is structured as a […]
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Merkel still the 'right person' to protect the European idea, senior advisor says
German Chancellor Angela Merkel is the “right person” to protect the European project throughout Brexit negotiations, a key political ally told CNBC. “(Merkel) wants to work together with (French President Emmanuel) Macron but also with all others in Europe who want to safeguard the European idea because at the moment we do have a problem […]
Read moreThe United States and its allies have ratcheted up sanctions against North Korea in a bid to pressure the country to give up its nuclear ambitions. That might prove a losing strategy. In fact, economic sanctions could actually be bolstering Pyongyang’s business competitiveness as firms develop better methods of evading trade restrictions. That, in turn, […]
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Azerbaijan ran $2.8 billion 'secret slush fund' to pay off European politicians
Azerbaijan’s ruling elite ran a secret $2.8 billion slush fund for two years to pay off European politicians and pay for luxury purchases, an investigation has shown. The secret fund, dubbed Azerbaijani Laundromat, operated for two years until 2014 and was used by the government to win favor among international peers, according to the report […]
Read moreFinnish mobile games and animation studio Rovio Entertainment Ltd is considering to list its shares in Helsinki, bourse operator Nasdaq said on Tuesday. Nasdaq did not give further details, but said Rovio was due to hold a press conference later on Tuesday. Following years of falling earnings, job cuts and restructuring, Rovio returned to profit […]
Read moreChinese President Xi Jinping told an international summit on Tuesday that although the global economy had improved, risk factors had also increased. Addressing the “Dialogue of Emerging Market and Developing Countries,” Xi appeared to rebuke the United States’ recent resistance to international agreements — including the Paris climate accord. He said emerging and developing markets […]
Read moreChinese entrepreneur Li Hejun, who briefly held the title of China’s richest man, was just banned from Hong Kong’s business world A Hong Kong court ruled to disqualify Li from being a director or being involved with the management of any Hong Kong listed or unlisted company for eight years. That came as the court […]
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European markets set to open marginally higher despite lingering Korea tensions
European markets were set to open slightly higher on Tuesday morning, as geopolitical tension concerning North Korea kept investors at bay while markets lacked overnight guidance due to a Labor Day holiday in North America. The FTSE 100 is seen 6 points higher at 7,416; the DAX is expected to open up by around 15 […]
Read moreAustralia’s central bank left its cash rate at 1.5 percent on Tuesday, a widely expected decision given policy makers have signaled a steady outlook for some time to come. The Reserve Bank of Australia (RBA) made the announcement following its monthly policy meeting. A Reuters poll of 42 analysts had found all but one expected […]
Read moreSouth Korea said on Tuesday an agreement with the United States to scrap a weight limit on its warheads would help it respond to North Korea’s nuclear and missile threat after Pyongyang conducted its sixth and largest nuclear test two days ago. South Korean officials believe more provocation from the reclusive state is possible, despite […]
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