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Former Aviva CFO Stoddard joins BofA as investment banking vice chair By Reuters

(Reuters) - Former Aviva (LON:AV) Plc Chief Financial Officer Tom Stoddard joined Bank of America Corp (NYSE:BAC) as vice chairman of investment banking, according to an internal memo, returning to his advisory roots after a stint in the insurance industry. Stoddard, who advised on such situations as American International Group Inc (NYSE:AIG)'s $182 billion bailout and restructuring during the financial crisis of 2008, will be based in New York and focus on financial institutions globally. A Bank of America spokesman confirmed the appointment. Stoddard was group CFO at Aviva between 2014 and 2019,...

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Detained Belarusian blogger appears in video, opposition cries foul By Reuters

MOSCOW (Reuters) -In a video posted online on Monday, Belarusian blogger Roman Protasevich, detained when a Ryanair plane was forced to land in Minsk, says he is in good health and acknowledges having played a role in organising mass disturbances in Minsk last year. The comments were immediately dismissed by his allies as made under duress. "This is how Raman looks under physical and moral pressure. I demand the immediate release of Raman and all political prisoners," a leader of Belarusian opposition, Sviatlana Thiskanouskaya, wrote on Twitter in English, using the Belarusian spelling of his name....

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Australia’s New South Wales awards $2.5 billion battery contract to Shell By Reuters

SYDNEY (Reuters) - Australia's New South Wales (NSW) state said on Tuesday it has awarded a A$3.2 billion ($2.5 billion) contract to Royal Dutch Shell (LON:RDSa) and renewable energy firm Edify to build a 100-megawatt battery to boost its energy supplies. Authorities said the battery, to be built by early 2023 and operated by Edify, will ease concerns around energy supply shortages related to the closure of AGL Energy's aging coal-fired Liddell power station after two years. "This battery will help to keep the lights on and keep costs down during peak energy periods, and support...

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U.S. Treasury deputy chief sees G7 backing for 15%-plus global minimum tax By Reuters

By David Lawder WASHINGTON (Reuters) -U.S. Treasury Deputy Secretary Wally Adeyemo said he expects strong backing from G7 peers for Washington's proposed 15%-plus global minimum corporate tax, which should help solidify support in the U.S. Congress for domestic corporate tax legislation. "My sense is that you're going to see a lot of unified support amongst the G7 moving forward," Adeyemo told Reuters on Monday after France, Germany, Italy and Japan made positive comments about the Treasury's proposal. That support may be voiced at an in-person meeting of G7 finance ministers in London on June 4-5, Adeyemo...

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Dollar hovers near 4-month lows, bitcoin holds bounce By Reuters

By David Henry NEW YORK (Reuters) - The dollar languished near four-month lows against major currencies on Monday as bets on a robust global economic recovery continued to support currencies seen as riskier. The dollar index moved around the 90 mark, down 0.2% on the day, slightly above a four-month low on Friday of 89.646. Since the end of March, the greenback, seen as a safe-haven trade, has retreated steadily with optimism about the recovery. But lately that move down seems to have slowed as traders begin to anticipate higher U.S. interest rates coming when the...

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Military arrest Mali’s president, prime minister and defence minister – sources By Reuters

By Paul Lorgerie and David Lewis BAMAKO (Reuters) -Military officers in Mali arrested the president, prime minister and defence minister of the country's interim government on Monday after a cabinet reshuffle, multiple diplomatic and government sources told Reuters. President Bah Ndaw, Prime Minister Moctar Ouane and defence minister Souleymane Doucoure were all taken to a military base in Kati outside the capital Bamako, the sources said. The arrests bring further uncertainty to the West African country after a military coup in August overthrew President Ibrahim Boubacar Keita. Ndaw and Ouane had been...

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UK refuses to back Biden push for minimum corporation tax -The Telegraph By Reuters

(Reuters) -The UK treasury is refusing to back a global overhaul of corporation tax championed by U.S. President Joe Biden unless the White House supports its demand to crack down on U.S. tech titans, The Telegraph https:// reported on Monday, citing treasury sources. Britain has not yet given the proposal its backing as it is pushing for strict rules that specifically target Silicon Valley titans such as Alphabet (NASDAQ:GOOGL) Inc's Google and Facebook Inc (NASDAQ:FB) , the report added, citing the sources. "We're not going to rush to sign up without a proper,...

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Shell weighs shut Louisiana refinery’s future as Baton Rouge firm promotes bid By Reuters

By Erwin Seba HOUSTON (Reuters) - Royal Dutch Shell (LON:RDSa) was still evaluating plans for an idled Louisiana oil refinery, the company said on Monday, after a Baton Rouge investor said over the weekend his $1.25 billion offer was not accepted. American Clean Energy Refining LLC (ACER), based in Baton Rouge, submitted two bids for the refinery, the first last December, Chief Executive George R. Dabbs told Reuters on Sunday. Neither was accepted, he said. ACER offered $1.75 billion for the 211,146 barrel-per-day (bpd) Convent, Louisiana, refinery before it was permanently idled in December, Dabbs...

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Lordstown Slumps on Production Delays as Costs Rise; Seeks Capital Boost By Investing.com

By Yasin Ebrahim Lordstown tumbled in afterhours trading Monday after warning that Endurance production in 2021 would be limited and fall short of its prior guidance by at least 50% as costs continue to rise.  Lordstown Motors Corp (NASDAQ:RIDE) was down about 8% in afterhours trading.  "Expected Endurance production in 2021 will be limited and would at best be 50% of our prior expectations," the company said, adding that it would need to raise funds to execute on its strategy.  "The timeline to start of production late-September 2021, which will be at limited capacity, remains on track....

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Arrested Belarusian blogger from Ryanair plane is held in a jail – ministry By Reuters

MOSCOW (Reuters) - A Belarusian blogger, Roman Protasevich, who was detained when the Ryanair plane from Athens to Vilnius was forced to land in Minsk on Sunday, is being held in a jail, the interior ministry said on Monday. It added he has not complained of ill health. Minsk scrambled a warplane to escort the Ryanair flight on Sunday, flagging a bomb alert that proved false once the plane had made an unscheduled landing in Belarus where authorities arrested Protasevich, a journalist critical of Belarusian leader Alexander Lukashenko. ...

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