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Spanish tensions bar Europe from global stocks party


Global stock markets hit a record high on Wednesday with investors in exuberant mood in the United States overnight and in Asia later, but sentiment in Europe was soured by a political crisis gathering steam in Spain. Tensions between Madrid and Catalonia have risen since the wealthy region held an independence referendum on Sunday that was tarnished by police violence. ...

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EU takes Ireland to court for not claiming Apple tax windfall


The European Commission said on Wednesday it was taking Ireland to the European Court of Justice for its failure to recover up to 13 billion euros ($15.3 billion) of tax due from Apple Inc (AAPL.O), a move labeled as “regrettable” by Dublin. The Commission ordered the U.S. tech giant in August 2016 to pay the unpaid taxes as it ruled ...

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Oil slides from nine-week highs as market looks to OPEC


Oil prices edged lower on Monday, sliding away from nine-week highs, as worries lingered over high production from OPEC and the United States. Global benchmark Brent crude futures LCOc1 were down 65 cents, or 1.24 percent, at $51.77 a barrel at 0926 GMT. U.S. crude futures CLc1 were down 59 cents, or 1.19 percent, at $48.99 per barrel. Both contracts ...

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Brexit: UK will not cut taxes, says Philip Hammond


The UK will not cut tax and regulations after Brexit in a bid to undercut EU rivals, Philip Hammond has suggested. The chancellor told French newspaper Le Monde that tax raised as a percentage of the British economy “puts us right in the middle” of European countries. “We don’t want that to change, even after we’ve left the EU,” he ...

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Eurozone unemployment rate falls to 9.1%


The unemployment rate in the eurozone has fallen to its lowest since February 2009, according to the latest official figures. The rate dropped to 9.1% last month, from a downwardly revised 9.2% in May. Separately, inflation remained unchanged in July at 1.3%, according to a preliminary estimate from Eurostat, the European Union’s statistics office. However, core inflation, which excludes food, ...

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Snapchat’s moment of truth is here


Snapchat has seen much of its market value disappear since going public in March. Now the situation could go from bad to worse. Snap(SNAP), the parent company of Snapchat, fell as much as 5% in early trading Monday to a new low as some company insiders finally get the chance to cash out. The stock later rebounded and was flat ...

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Deutsche Bank seals deal with Land Securities for new London HQ


Deutsche Bank has exchanged a pre-let agreement for its new City of London headquarters, the building’s developer Land Securities said on Tuesday. The announcement confirmed details of the deal first reported in March, adding that under the 25-year lease agreement the German lender had committed to take a minimum of 469,000 square feet in the building at 21 Moorfields. The ...

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Oil bounce, results keep stocks on high


Oil’s rise back above $50 a barrel helped prod stock markets higher on Wednesday and company results and economic data continued to soothe worries that the world economy may be ripe for a another slowdown. European stock markets were mainly higher, led by energy and commodity-linked companies after Brent crude topped the $50 mark for the first time since early ...

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McDonald’s sales up on premium hamburgers and cheap drinks


McDonald’s, facing pressure from increased competition, says it has found a recipe for success in $1 drinks and a new line of high-end hamburgers. The fast food pioneer had its highest quarterly sales at established stores in five years in the three months to the end of June. The firm credited its turnaround efforts, which involve remodelling stores and using ...

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Jimmy Choo bought by Michael Kors in £896m deal


Luxury shoemaker Jimmy Choo has been bought by Michael Kors Holdings in a deal which values the firm at £896m. The British firm, which was put up for sale in April, had attracted attention from a number of suitors. As well as shoes, Jimmy Choo produces a range of luxury goods. Jimmy Choo shoes featured the 90s TV hit show, ...

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