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IMF sounds alarm about high global public debt, urges countries to build buffers

By Andrea Shalal WASHINGTON (Reuters) -Global public debt is projected to rise above 100% of gross domestic product by 2029, reaching its highest level since 1948 and continuing to climb, the IMF said on Wednesday, urging countries to build up buffers to guard against economic ...
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Wall St set for higher open after strong bank earnings, chip stocks rally

By Sukriti Gupta and Twesha Dikshit (Reuters) -Wall Street’s main indexes were set to open higher on Wednesday after solid results from Bank of America and Morgan Stanley, while chipmakers climbed as ASML reported strong quarterly results. Bank of America and Morgan Stanley added 3.8% and ...
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Morgan Stanley’s profit beats estimates on boost from dealmaking, stock trading

(Reuters) -Morgan Stanley’s third-quarter profit beat market expectations as investment bankers brought in more fees from advising on deals and by underwriting stock and debt sales, lifting revenue to a record. Shares of the bank rose 3.9% in premarket trading on Wednesday. They have ...
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US regional lender PNC’s profit jumps on higher interest income, fees

(Reuters) -PNC Financial reported a more than 21% rise in third-quarter profit on Wednesday, driven by higher interest income and across-the-board jump in fees. The results underscored borrower resilience across the U.S. and a rebound in dealmaking from April’s tariff-driven slump, mirroring trends observed across ...
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How Promote Giving, a new investment model, will raise millions for charities

The first foreign trip Joel Holsinger took in 2019 after joining the board of directors at the global health nonprofit PATH convinced him that he needed to do more to raise money for charities. The investment manager, who is now also a partner and co-head ...
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Indonesia finds traces of radioactive element at clove farm

JAKARTA, Indonesia (AP) — Indonesia detected traces of radioactive cesium 137 at a clove plantation as it searches for the source of radioactive contamination that forced recalls of shrimp and spices exported to the U.S., a task force investigating the issue said Wednesday. U.S. Food ...
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Bank of America profit rises on investment banking strength

(Reuters) -Bank of America’s profit rose in the third quarter, as its investment bankers earned big from advising on mega deals, sending shares of the lender up more than 3% in trading before the bell. The bank and its biggest rivals benefited from renewed ...
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European Commission fines Gucci, Chloé and Loewe $183 million for price interference

MILAN (AP) — The European Commission has fined luxury fashion houses Gucci, Chloé and Loewe over 157 million euros (nearly $183 million) for anti-competitive practices restricting independent retailers’ ability to set prices for their luxury goods. The commission said the companies’ fixing of resale prices ...
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Ukrainian officials meet with US weapons manufacturers before Trump-Zelenskyy talks

KYIV, Ukraine (AP) — A Ukrainian government delegation has met with prominent American weapons manufacturers during a U.S. visit, a senior Kyiv official said Wednesday, before President Volodymyr Zelenskyy’s meeting with U.S. counterpart Donald Trump at the White House later this week. A delegation led ...
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Edmunds small SUV comparison: New Volkswagen Tiguan vs. Honda CR-V

If you’re considering buying a new small SUV, there’s a good chance you’ll consider the Honda CR-V. The CR-V is among the most popular-selling models in the United States, and there are good reasons why. It’s practical, comfortable and quite good at getting you ...
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China’s Sicarrier unit unveils new chip design software, media reports

BEIJING (Reuters) -A subsidiary of SiCarrier, a Chinese chip equipment maker with close links to Huawei, unveiled two domestically developed software products for semiconductor designs, the latest move by China to reduce reliance on foreign technologies. Yunqifang, a subsidiary of Shenzhen-based SiCarrier, released two electronic ...
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Supertanker freight rates up sharply as US-China trade war envelops ports

By Jeslyn Lerh and Florence Tan SINGAPORE (Reuters) -Supertanker freight rates surged this week and are set to stay elevated on U.S.-China tit-for-tat hikes in port fees and concerns about the fallout from U.S. sanctions on a major Chinese crude oil terminal. Chinese retaliatory port fees ...
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