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Europe:Desperate uranium miners switch to survival mode despite nuclear rebound

The Tamgak open air uranium mine is seen at Areva's Somair uranium mining facility in Arlit, Niger, September 25, 2013.  REUTERS/Joe Penney/File Photo

The nuclear industry is gradually recovering from its post-Fukushima slump, but excess capacity keeps uranium prices at record lows, forcing mining companies to mothball mines, slice costs and cut debt as they struggle to survive. In the wake of the March 2011 Fukushima disaster, Japan closed its nuclear reactors, which accounted for some ten percent of the more than 400 ...

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UK faces economic turbulence during Brexit process: Hammond

Britain's Chancellor of Exchequer Philip Hammond watches Prime Minister Theresa May speak at the annual Conservative Party Conference in Birmingham, Britain, October 2, 2016. REUTERS/Toby Melville

The British economy will face turbulence as the government negotiates the country’s exit from the European Union, finance minister Philip Hammond said on Monday. On Sunday, Prime Minister Theresa May said Britain would begin formal divorce talks with the EU by the end of March next year, and Hammond said he was in favor of getting a deal done “as ...

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Europe: Desperate uranium miners switch to survival mode despite nuclear rebound

The Tamgak open air uranium mine is seen at Areva's Somair uranium mining facility in Arlit, Niger, September 25, 2013.  REUTERS/Joe Penney/File Photo

The nuclear industry is gradually recovering from its post-Fukushima slump, but excess capacity keeps uranium prices at record lows, forcing mining companies to mothball mines, slice costs and cut debt as they struggle to survive. In the wake of the March 2011 Fukushima disaster, Japan closed its nuclear reactors, which accounted for some ten percent of the more than 400 ...

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LSE-Deutsche Boerse merger plan being investigated

stockexchangereuters

The European Commission is planning to open an in-depth investigation into the planned £21bn merger of London’s Stock Exchange and Germany’s Deutsche Boerse. The scheme would combine the stock exchanges of the UK, Germany and Italy and some big clearing houses to create Europe’s largest exchange operator. Commissioner Margrethe Vestager said it had to make sure that financial markets remained ...

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Sainsbury’s sales slip as food prices continue to fall

sainsbury's1

Sainsbury’s has reported a second consecutive quarter of falling sales, blaming falling food prices. Excluding fuel, like-for-like sales, which strip out the impact of new store openings, fell 1.1% in the 16 weeks to 24 September. Total sales fell 0.4%. Despite the drop, the UK’s second-largest supermarket said it was continuing to make progress. Chief executive Mike Coupe said he ...

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Germany ‘prepares Deutsche Bank rescue’

deutsche

The German government and financial authorities are working on a rescue plan for Deutsche Bank in case it cannot pay fines in the US, according to Die Zeit newspaper. Germany’s biggest lender is facing a $14bn (£10.8bn; €12.5bn) bill for mis-selling mortgage-backed bonds before the financial crisis of 2008. In the worst-case scenario, the government would even take a 25% ...

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End of an era: BlackBerry will stop making its own phones

blackberry

It’s the end of an era for BlackBerry. The company, famous for making cellphones with physical keyboards that were once so popular people nicknamed them Crackberries, has decided to stop making its own devices. BlackBerry said on Wednesday that it will rely on partners to manufacture the phones, which will still have BlackBerry’s look and feel. The company announced a ...

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Europe Stocks Tumble as Deutsche Bank Sinks to Fresh Record Low

stocks

A plunge in banks put a halt to the optimism that lifted European equities last week, sending them to their biggest slumps since early July. Growing worries over Deutsche Bank AG’s capital buffers dragged the stock to a fresh all-time low and cast a pall on its peers. A gauge tracking the firms trades at 0.66 times book value, less ...

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UK:Business Consultants Are Having a Great Brexit

brexit

Brexit is proving a boon for some workers, according to a survey that paints a generally upbeat picture of the labor market since Britain voted to leave the European Union. Vacancies for business consultants rose 5 percent in August and were up 10 percent from a year earlier, job-search engine Adzuna said in the report published Tuesday. Average salaries climbed 9 ...

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Europe:Oil prices fall as hopes of production freeze fade

An oil pump is seen in Lagunillas, Venezuela, August 13, 2016. REUTERS/Jesus Contreras

Oil prices slipped on Thursday as the market focused on oversupply and fading hopes of a production freeze. Global crude oil benchmark Brent LCOc1 was down 15 cents at $48.90 a barrel by 0830 GMT, having closed down 1.8 percent on Wednesday. U.S. light crude oil CLc1 was unchanged at $46.77 a barrel, after dropping 2.8 percent on Wednesday. Oil ...

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