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Visa opens first Africa data centre in Johannesburg

By Nqobile Dludla JOHANNESBURG (Reuters) -Visa Inc launched its first data centre in Africa on Wednesday, capitalising on the emerging economy’s rapid growth in digital payments, company executives said. Speaking at the launch, Michael Berner, Visa’s head of Southern and East Africa, said the facility was ...
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Hershey, Nestle, other cocoa companies defeat appeal of child slavery lawsuit

By Jonathan Stempel (Reuters) -A federal appeals court on Tuesday rejected a proposed class action by eight Malian citizens who sought to hold Hershey, Nestle and five other companies liable for child labor on Ivory Coast cocoa farms. In a 3-0 decision, the U.S. Court of ...
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Factbox-What’s in the EU’s countermeasures to US tariffs?

By Julia Payne BRUSSELS (Reuters) -The European Union could hit the United States with counter-tariffs on 93 billion euros ($109 billion) worth of U.S. goods if the two sides fail to reach a trade deal by Washington’s August 1 deadline for imposing import levies. The ...
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Brazil’s WEG reports second-quarter earnings miss amid geopolitical uncertainty, shares fall

SAO PAULO (Reuters) -Brazilian motor maker WEG reported on Wednesday a 10.4% rise year-on-year in its second-quarter net profit, but missed market forecasts amid what it called elevated volatility in the global economy, driving its shares sharply lower. The worse-than-expected results create further uncertainty for WEG, ...
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UK Supreme Court quashes convictions of 2 bank traders after deciding their trials were unfair

LONDON (AP) — Britain’s Supreme Court on Wednesday quashed the convictions of two financial market traders accused of manipulating benchmark interest rates in one of the biggest scandals to come out of the global financial crisis in 2008. The charges against Tom Hayes, a ...
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EU and Japan agree to work together to promote free trade and economic security

TOKYO (AP) — Leaders of the European Union and Japan launched an alliance Wednesday aimed at boosting economic cooperation, defending free trade and countering unfair trade practices as the two sides face growing challenges from the United States and China. The agreement followed a meeting ...
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Chevron says zinc levels in U.S. Mars oil output within limits

HOUSTON (Reuters) -Chevron on Tuesday said recent testing indicates that zinc levels in flagship U.S. offshore crude Mars’ production stream were now within expected levels.  The start-up of an offshore well caused zinc contamination in Mars crude, Chevron had said earlier this month, leading to  ...
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US existing home sales fall more than expected in June

WASHINGTON (Reuters) -U.S. existing home sales fell more than expected in June, suggesting the housing market slump could be deepening as higher mortgage rates and economic uncertainty keep potential buyers on the sidelines. Home sales dropped 2.7% last month to a seasonally adjusted annual rate ...
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Dealmaking in US upstream oil and gas tumbles as volatility rattles investors 

By Georgina McCartney HOUSTON (Reuters) -Volatility across energy and equity markets spooked investors in the second quarter, slowing the pace of mergers and acquisitions in the U.S. upstream oil and gas sector, analytics firm Enverus said on Wednesday.     The slump in dealmaking follows a series of blockbuster ...
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UK regulator seeks special status for Apple and Google that could mandate changes for Big Tech

LONDON (AP) — Britain’s antitrust watchdog has proposed labeling Google’s and Apple’s mobile ecosystems with “strategic market status,” which would mandate changes at the Big Tech companies to improve competition. The Competition and Markets Authority’s announcement Wednesday follows separate investigations it opened at the start ...
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US stock market concentration risks come to fore as megacaps report earnings

By Lewis Krauskopf NEW YORK (Reuters) -Wall Street’s reliance on a small number of high market-value stocks to keep momentum going for the U.S. equities bull market will be tested in coming days as major technology and growth companies report earnings. Concentration in widely followed market barometers ...
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Wall Street poised for higher open as US-Japan trade deal lifts sentiment

By Nikhil Sharma and Pranav Kashyap (Reuters) -Wall Street was poised for a stronger start on Wednesday after President Donald Trump struck a trade deal with Japan, shoring up expectations of further agreements ahead of the fast-approaching August 1 deadline. The pact will slash tariffs ...
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