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Japan shares lower at close of trade; Nikkei 225 down 0.03% By Investing.com

Investing.com – Japan equities were lower at the close on Friday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors propelled shares lower. At the close in Tokyo, the Nikkei 225 declined 0.03%. The biggest gainers of the session on the Nikkei 225 were Eisai Co., Ltd. (T:4523), which rose 7.00% or 700.0 points to trade at 10700.0 at the close. Daiichi Sankyo Co., Ltd. (T:4568) added 3.06% or 76.5 points to end at 2573.5 and Chugai Pharmaceutical Co., Ltd. (T:4519) was up 2.60% or...

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FTSE 100 eyes best week in over a month as economy strengthens By Reuters

By Devik Jain (Reuters) - London's FTSE 100 index edged higher on Friday, helped by gains in mining and healthcare stocks, while a record annual jump in domestic economic output in April strengthened views of a stronger recovery from the pandemic-driven disruption last year. The blue-chip index rose 0.6%, with precious metal miners and base metal miners jumping 1.8% and 1.5%, respectively. The index was up 0.8% for the week, its biggest percentage gain since the week ending May 7. Pharmaceutical stocks also rose, with AstraZeneca (NASDAQ:AZN) leading the gains. The domestically focused mid-cap FTSE...

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Naked Wines sales jump 68% on pandemic boost By Investing.com

By Samuel Indyk Investing.com – Naked Wines said revenue in the full year to 29th March increased 68% to £340.2mln, driven by an acceleration in the shift to online wine purchasing brought on by the pandemic. US expansion The company saw growth in all three of its geographies but particularly the United States, where sales grew 78% to £161.7mln. The US now represents almost 50% of the company’s total revenue and is the group’s largest market. The company is now increasing focus on the US segment due to it representing the largest market opportunity and expectations...

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UK’s Sunak welcomes rebound in economic output By Reuters

LONDON (Reuters) - British finance minister Rishi Sunak welcomed a recovery in economic output in April, which was 2.3% higher than a month before and 27.6% higher than in April 2020, when the economy was in its first pandemic lockdown. "Today’s figures are a promising sign that our economy is beginning to recover," he said in a statement after the data was released on Friday. "But I know there are people who still need our support, which is why the furlough scheme is in place until September." ...

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China’s Huawei aims to reach driverless car technology in 2025 By Reuters

BEIJING/SHENZHEN (Reuters) - China's Huawei Technologies aims to develop driverless passenger car technology by 2025, an executive said on Thursday, as the world's largest telecommunications equipment maker diversifies its business in the face of U.S. sanctions. "Our team's goal is to reach true driverless passenger cars in 2025," Wang Jun, senior executive at Huawei's smart vehicle unit, told an industry conference. Dozens of startups, automakers and large technology firms such as internet search leader Baidu Inc (NASDAQ:BIDU) are accelerating work on self-driving vehicle systems which are expected to bring a sea change to the transportation...

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Exclusive – ECB tells Deutsche Bank to find new chairman fast: sources By Reuters

By Tom Sims and Patricia Uhlig FRANKFURT (Reuters) - The European Central Bank has asked Deutsche Bank (DE:DBKGn) a number of times in recent months to name a successor to chairman Paul Achleitner as the end of his term nears, two people with knowledge of the matter said. Achleitner is due to retire next May after 10 difficult years in office that saw two changes of CEO, billions of euros of losses and huge fines. The 64-year-old has survived three shareholder votes on whether to oust him but said he will go...

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UK competition watchdog secures Google commitments on third-party cookies By Reuters

LONDON (Reuters) - Britain's competition regulator said on Friday it had secured commitments from Google (NASDAQ:GOOGL) about the tech giant's proposal to remove third-party cookies from its Chrome browser. The Competition and Markets Authority (CMA) said the commitments were a result of action it launched against the U.S. company in January following concerns that its proposals could restrict competition in digital advertising. ...

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Peru Holds Key Interest Rate Near Zero Amid Election Turmoil By Bloomberg

(Bloomberg) -- Peru’s central bank held its key interest rate at an all-time low Thursday as uncertainty mounts over the results of Sunday’s contentious presidential election. The bank kept its benchmark rate at 0.25% for the 14th straight month, making good on its promise to provide liquidity to an economy hard-hit by the pandemic. The decision comes as leftist candidate Pedro Castillo is leading the June 7 runoff election against Keiko Fujimori by 50.2% to 49.8% -- fewer than 70,000 votes, with 99% of ballots tallied. Fujimori -- a former congresswoman facing money laundering charges --...

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Detroit becomes ‘Jeep City’ with first new auto plant in 30 years By Reuters

DETROIT (Reuters) - Inside the first new auto assembly plant built in the Motor City since 1991, the smell of hot metal hangs in the air as new Jeep Grand Cherokee L SUVs head down the welding line. For Stellantis NV, that is the smell of money. For the City of Detroit, it means nearly 5,000 jobs. Stellantis opened the doors of its new $1.6 billion Mack Avenue assembly complex on Thursday, showing off parts of a 3 million square foot complex completed and launched into production largely during the pandemic. The...

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Ferrari flaunts its latest models on the catwalk By Reuters

By Giulio Piovaccari and Giulia Segreti MARANELLO, Italy (Reuters) - Talk about fast fashion. Ferrari (NYSE:RACE) is racing through the gears to bring its Prancing Horse brand to the catwalk and fine dining in an attempt to woo wealthy customers beyond its faithful fans. The Italian company renowned for its Formula One racing team and high-powered sports cars adorned with the Cavallino Rampante logo is launching a fashion collection on Sunday and reopening a restaurant in its hometown of Maranello two days later. The clothing line comes from creative director and former Armani designer...

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