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Explainer-US agency to unveil plan to ease power transmission crunch
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Friday, May 10
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SRN News
Retailer Lidl UK raises staff pay for third time in 12 months
LONDON (Reuters) – The British arm of German supermarket group Lidl said it would lift wages by over 3% in June, giving thousands of workers a third pay rise in 12 months. Lidl said on Friday it would raise pay ...
Friday, May 10
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Japan economy expected to shrink in Q1 due to weak consumption: Reuters poll
By Tetsushi Kajimoto TOKYO (Reuters) – Japan’s economy likely contracted an annualised 1.5% in the January-March quarter as all key drivers of growth slumped due to an uncertain outlook, a Reuters poll showed, which will probably set back Bank of Japan ...
Friday, May 10
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SRN News
China says it firmly opposes US export control tools
BEIJING (Reuters) – China firmly opposes the abuse of export control tools such as the U.S. entity list, a foreign ministry spokesperson said on Friday, after the U.S. added 37 Chinese firms to a trade restriction list over national security ...
Friday, May 10
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SRN News
Porch sues China Construction Bank in US over reinsurance fraud losses
(Reuters) – U.S. insurance and home inspection software provider Porch Group is suing China Construction Bank Corp (CCB), the country’s third-biggest lender by assets, for allegedly enabling a “massive fraud” that caused “monumental losses” for Porch. Porch and its units accused ...
Friday, May 10
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SRN News
Novavax signs COVID-19 license deal with Sanofi, removes doubt about business viability
PARIS (Reuters) -Novavax on Friday erased doubts about its ability to remain in business and struck a licensing deal worth up to $1.2 billion with Sanofi for COVID-19 vaccines in exchange for a stake that doubles the U.S. drugmaker’s market value. In February last year, ...
Friday, May 10
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SRN News
British economy rebounds strongly in first quarter of the year, ending ‘technical recession’
LONDON (AP) — The British economy bounced back strongly in the first three months of the year, bringing to an end to what economists termed a “technical recession”, official figures showed Friday. The Office for National Statistics said the economy grew by 0.6% in the ...
Friday, May 10
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SRN News
Chinese venture capitalists warn IPO freeze will hit innovation
SHANGHAI (Reuters) – Chinese venture capitalists have warned the country’s IPO freeze is starving tech startups of funds by keeping market participants locked into existing investments, undermining Beijing’s current push to lift innovation in the economy. Venture capital firms said at ...
Friday, May 10
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SRN News
Foxconn’s Q1 profit to jump from low base, AI to power growth
TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker, is expected to report on Tuesday that first-quarter profit more than doubled on robust demand for artificial intelligence servers and after coming off a low base a year ago. Last ...
Friday, May 10
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SRN News
Honda sees full-year profit rising 2.8%
TOKYO (Reuters) – Japan’s Honda Motor Co forecast a 2.8% rise in operating profit for this financial year, after it exceeded analysts’ estimates in the fourth quarter as strong sales growth in the United States offset a decline in China. Japan’s ...
Friday, May 10
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SRN News
Novavax erases doubts about its ability to remain in business
(Reuters) – COVID-19 vaccine maker Novavax, on Friday, erased doubts about its ability to remain in business by removing a so-called “going concern” notice. In February last year, Novavax had raised doubts about its ability to remain in business and announced ...
Friday, May 10
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SRN News
France’s Sanofi in COVID-19 vaccine deal with Novavax
PARIS (Reuters) – Sanofi on Friday announced it has reached a licensing agreement with Novavax to sell a stand-alone COVID-19 vaccine and develop new flu-COVID-19 combination vaccines while also taking an equity stake in its US peer. “We’re excited by ...
Friday, May 10
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SRN News
Stock market today: Asian shares trade higher after Wall St rally takes S&P 500 near record
TOKYO (AP) — Stocks in Asia traded higher Friday after a rally on Wall Street that pulled the S&P 500 back within 1% of its record. Benchmarks rose in Tokyo, Seoul, Sydney and China, where investors were focused on the release of April inflation ...
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