India’s demonetized currency may have found its way back into the system but analysts suggest that far from tarnishing Prime Minister Narendra Modi‘s image, the strategy will ultimately viewed as a success. “It’s important to remember that the demonetization move was intended more as a political move than as an economic one,” noted New York-based […]
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Drugmaker Indivior slumps 38% as it suffers setback in US patents ruling
Indivior said on Friday it would appeal against a U.S. court ruling that generic drug maker Dr Reddy’s had not infringed its patents, potentially opening the way to a rival to the firm’s Suboxone Film opioid addiction treatment. London-listed Indivior has said it would not be able to rely on patents to prevent Dr. Reddy’s […]
Read moreThe United States has told Russia to close its consulate in San Francisco and buildings in Washington and New York that house trade missions, the State Department said on Thursday, in retaliation for Moscow cutting the U.S. diplomatic presence in Russia. The announcement was the latest in tit-for-tat measures between the two countries that have […]
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Putin says pressure on North Korea is both 'futile' and a 'dead-end road'
Russian President Vladimir Putin urged the U.S. and others to avoid going down a “dead-end road” with North Korea on Friday, adding only dialogue without pre-conditions could resolve the crisis. “Russia believes that the policy of putting pressure on Pyongyang to stop its nuclear missile program is misguided and futile,” Putin said in an article […]
Read moreSamsung Electronics Co Ltd said on Thursday it has received a permit to test self-driving vehicles in California, marking the entry of the world’s largest smart phone maker four months after iPhone maker and arch rival Apple Inc received a permit. Its parent company in May secured permission from South Korean authorities to test a […]
Read moreThe European Central Bank has a big problem in its hands and it originates from the United States, a former president of the central bank told CNBC Friday. The growing strength of the euro – which recently broke the $1.20 benchmark – is raising questions about the future of monetary policy in Europe. It’s the […]
Read moreChina has the resources and ambitious top-down plans to potentially create an intelligent economy powered by artificial intelligence and machine learning over the next several years, according to a new report from Goldman Sachs. In the report, titled “China’s Rise in Artificial Intelligence,” the investment bank said the world’s second-largest economy has emerged as a […]
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European markets to open slightly higher as investors await key data
European markets are expected to start trade mixed to slightly higher on Friday morning, as investors gear up for more data releases, while taking note of the positive trading seen overseas. The U.K.’s FTSE 100 is expected to open 4 points lower at 7,426, while the German DAX is set to start on a positive […]
Read moreWhen President Donald Trump walked away from the Trans-Pacific Partnership, he set off a series of geopolitical recalculations across Asia. The U.S. withdrawal from the TPP had widely been considered a political boon for China, and that has lead countries such as Japan to worry they’ll lose influence. “Some Chinese officials saw the TPP as […]
Read moreGreece wants nothing more than to avoid another bailout — which means it needs debt relief. And so far, that’s the sticking point. “There is now light at the end of the tunnel,” Greek Finance Minister Euclid Tsakalotos said hopefully in June. After months of wrangling, the European Union and International Monetary Fund had just […]
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