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HSBC, StanChart help UK banking index recoup post-Brexit losses

A man walks past a HSBC bank branch in the City of London, Britain November 12, 2014.   REUTERS/Stefan Wermuth/File Photo

Britain’s leading banking index .FTNMX8350 inched higher on Tuesday and recovered, in sterling terms, all of the losses it suffered in the aftermath of June’s landmark vote in which the UK vote to leave the European Union. The FTSE 350 Banks index .FTNMX8350 was up 0.3 percent higher at 3,412.48 points by 0705 GMT (3:05 a.m. EDT) after rising to ...

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Delta Air Lines grounds flights


Delta Air Lines said early Monday that all of its departing flights have been grounded by a global computer system outage. “Our systems are down everywhere,” it tweeted in response to disgruntled customers. Delta (DAL), the world’s second largest airline, said the problem is a power outage at its Atlanta hub, starting at about 2:30 a.m. ET. “Large-scale cancellations are expected ...

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Unruly France is riskier for businesses than Haiti


The risk consultancy cited frequent disruptions to France’s transportation infrastructure, resistance to labor law reforms and frequent protests as reasons for the high risk rating. “While France has an active civil society and trade unions, these actors tend to encourage demonstrations, as protest and industrial action are key facets of the country’s political culture,” the report says. France is ranked ...

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European bank rebound not enough to save world stocks from further losses

A worker shelters from the rain as he passes the London Stock Exchange in the City of London at lunchtime October 1, 2008.  REUTERS/Toby Melville/File Photo

World stocks fell for a third straight day on Wednesday, depressed by growing nervousness surrounding central bank policy and the recent spike in world bond yields, although European bank shares rebounded after two major earnings reports. Japanese stocks led the way, pushed down nearly 2 percent by the recent surge in Japanese government bond yields and the strength of the ...

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London:Oil takes breather from losses but oversupply concerns remain

A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. REUTERS/Lucy Nicholson

Oil edged higher on Tuesday after falling by up to 10 percent in just one week, but investors remained concerned about oversupply weighing on prices. Global benchmark Brent crude was trading up 49 cents at $42.63 a barrel at 1031 GMT (0631 EDT). U.S. West Texas Intermediate (WTI) crude was up 38 cents at $40.44 a barrel, after briefly dipping ...

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British Airways passengers protest against poor services


Close to four hundred customers of British Airways have signed a petition seeking for the airline to improve its services and make amendments to a number of its operations especially on the Accra-London (Heathrow) route. The petitioners, majority Ghanaians, are unhappy with what they term as the airline’s poor services including severe delays, lack of permanent stands, bad customer service, ...

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London:Shell misses expectations with 70 percent earnings plunge

Filled oil drums are seen at Royal Dutch Shell Plc's lubricants blending plant in the town of Torzhok, north-west of Tver, November 7, 2014. REUTERS/Sergei Karpukhin/File Photo

Royal Dutch Shell (RDSa.L) reported a more than 70 percent fall in quarterly profit on Thursday, well below analyst estimates, blaming weak oil prices, poor refining profits and higher charges resulting from its $54 billion acquisition of BG Group. Shell’s current cost of supplies — its definition of net income — came to $1 billion in the second quarter, compared ...

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UK still ‘attractive’ post Brexit as it invests £275m


GlaxoSmithKline is to invest £275m to expand its UK manufacturing sites, saying the country remains “an attractive location” despite Brexit. The pharmaceutical firm, whose chief executive Sir Andrew Witty backed the Remain campaign, said the UK’s skilled workforce and competitive tax system helped drive the decision. It said most of the products made at the expanded sites would be exported. ...

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California grid asks power companies to restrict work during heat wave


California’s power grid operator on Wednesday asked electric companies to restrict maintenance work on their generating facilities and transmission lines to help maintain reliability as a heat wave bakes the northern part of the state. The California Independent System Operator (ISO), which oversees California’s bulk electric power system, said on its website that generation resources “may be inadequate” to meet ...

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Europe:Swiss watchdog suspects lax bank controls related to 1MDB


Switzerland’s FINMA financial watchdog suspects banks being probed about ties to scandal-hit Malaysian state fund 1MDB had lax money-laundering controls, it said on Thursday, but declined to give any details about four open investigations. “FINMA has indications here that the measures for combating money laundering were insufficient,” a spokesman said. He was responding to news that the Monetary Authority of ...

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