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UK’s Thomas Cook mulling airline sale: Sunday Times

LONDON (Reuters) – British travel company Thomas Cook (TCG.L) is considering splitting off its airline and selling a stake to an outside investor to reduce debt, the Sunday Times newspaper reported. The Thomas Cook logo is seen in this illustration photo January 22, 2018. REUTERS/Thomas White/Illustration The newspaper, citing unnamed industry sources,…

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BlackRock’s Rieder halved fund’s emerging market exposure

NEW YORK (Reuters) – Top BlackRock Inc (BLK.N) bond investor Rick Rieder halved exposure in recent months to a once-major bet in his portfolios on emerging markets on concerns including that the dollar could move higher, he told Reuters on Friday. Rick Rieder, BlackRock’s Global Chief Investment Officer, speaks during the Reuters…

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Higher U.S. soy imports won’t harm EU farmers: German minister

BERLIN (Reuters) – An agreement by the European Union to increase soy imports from the United States will not harm EU farmers, German Agriculture Minister Julia Kloeckner said in an interview published on Saturday. Julia Kloeckner leaves a Christian Democratic Union (CDU) leadership meeting in Berlin, Germany, July 2, 2018. REUTERS/Hannibal Hanschke…

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Tech stocks weigh on Wall Street

NEW YORK (Reuters) – Wall Street’s major indexes fell on Friday as weak earnings reports from major technology companies led to a big drop for the sector. Intel Corp (INTC.O) shares sank 8.6 percent after the chipmaker’s data center business missed estimates amid stiff rivalry from Advanced Micro Devices Inc (AMD.O). AMD…

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Trump hails growth as one-offs and consumers boost economy

WASHINGTON (Reuters) – The U.S. economy grew at its fastest pace in nearly four years in the second quarter as consumers boosted spending and farmers rushed shipments of soybeans to China to beat retaliatory trade tariffs before they took effect in early July. President Donald Trump, who ahead of Friday’s release of…

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Advisory firm ISS recommends against Rite Aid sale to Albertsons

(Reuters) – Institutional Shareholder Services Inc (ISS), a shareholder advisory firm whose recommendations are followed by major mutual funds, said on Friday that Rite Aid Corp (RAD.N) investors should vote down its $24 billion merger with Albertsons Cos. A pedestrian passes a sign for a Rite Aid pharmacy in Somerville, Massachusetts, U.S.,…

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Facebook is sued after stock plunge ‘shocked’ market

NEW YORK (Reuters) – Facebook Inc (FB.O) and its chief executive Mark Zuckerberg were sued on Friday in what could be the first of many lawsuits over a disappointing earnings announcement by the social media company that wiped out about $120 billion of shareholder wealth. FILE PHOTO: Facebook CEO Mark Zuckerberg speaks…

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