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Global stocks stay subdued as dollar edges higher

LONDON (Reuters) – A stronger dollar and slightly higher global borrowing costs kept world shares subdued on Friday and left gold limping toward its worst week since December. Europe’s main London, Frankfurt and Paris markets <0#.INDEXE> barely budged in early moves, keeping MSCI’s 47- country world index just in the black on…

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HP Inc results beat estimates, raises 2018 profit forecast

HP Inc (HPQ.N) reported first-quarter revenue and profit on Thursday above Wall Street estimates as it sold more personal computers and printers, helping the company raise its full-year profit forecast. Shares of the company, which houses the hardware business of former Hewlett-Packard Co, rose 5.3 percent to $22.53 after the bell. The…

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China seizes control of Anbang Insurance as chairman prosecuted

BEIJING/SHANGHAI (Reuters) – The Chinese government on Friday seized control of Anbang Insurance Group Co Ltd and said its chairman had been prosecuted, a dramatic move that highlights Beijing’s willingness to curtail big-spending conglomerates as it cracks down on financial risk. Anbang had violated laws and regulations which “may seriously endanger the…

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Trump’s call for more gun regulation boosts firearm stocks

SAN FRANCISCO (Reuters) – Shares of gunmakers American Outdoor Brands and Sturm Ruger & Company rallied on Thursday after U.S. President Donald Trump advocated tightening background checks for guns in response to last week’s high school massacre in Florida. The Republican president’s tweets and comments were seen as increasing the possibility of…

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How General Electric gambled on fossil fuel power, and lost

NEW YORK (Reuters) – Last March, executives at General Electric Co’s power-plant business gave Wall Street a surprisingly bullish forecast for the year. Despite flat demand for new natural gas power plants, they said, GE Power’s revenue and profit would rise. Showing data from financial firm Lazard and other sources, their presentation…

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Prosecutors widen Audi emissions probe to former executives

BERLIN (Reuters) – German prosecutors searched the homes of three new suspects in connection with Audi’s emissions scandal on Thursday, further widening their inquiry into the carmaker’s test-cheating scandal to include former executives. About two weeks after raiding Audi’s headquarters and one of its two German plants, Munich prosecutors said two of…

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Barclays delivers on dividend despite 2017 disappointment

LONDON (Reuters) – Barclays PLC (BARC.L) showed its confidence in future earnings on Thursday by restoring its full dividend, despite lackluster investment banking income, restructuring costs and U.S. tax reforms hitting the bank’s 2017 bottom line. Shares in the British bank were up 5.1 percent to 212 pence at 1043 GMT, sending…

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German court to decide on fate of 15 million diesel cars

LEIPZIG, Germany (Reuters) – A German court will rule on Thursday whether major cities can ban heavily polluting diesel cars, potentially hitting the resale value of 15 million vehicles in Europe’s largest car market and forcing carmakers to pay for costly modifications. Diesel-engine cars have been in the spotlight since Volkswagen (VOWG_p.DE)…

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Ford U.S. chief departs abruptly after behavior probe

DETROIT (Reuters) – Ford Motor Co said on Wednesday that Raj Nair, its president for North America, was leaving the company immediately after an internal investigation found his behavior was “inconsistent with the company’s code of conduct.” Ford did not give any details on what that behavior entailed. A company spokesman said…

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