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Nvidia’s $40 billion deal for ARM likely set for lengthy review By Reuters

LONDON (Reuters) -Nvidia Corp's planned $40 billion acquisition of British chip designer ARM looks set to face a lengthy inquiry after a UK regulator found the deal would hit competition and could weaken rivals. Britain's Competition and Market's Authority said on Friday the takeover could lead to "significant competition concerns". While Nvidia, the world's biggest maker of graphics chips and AI chips, had offered remedies to lessen the impact, the CMA did not believe they would alleviate its concerns. "The CMA found that the merger should be progressed to an in-depth Phase 2 investigation...

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Fed Rattles Global Markets; Jobless Claims; Auto Chip Woe – What’s Moving Market By Investing.com

By Geoffrey Smith  Investing.com -- Global markets tumble and U.S. stocks are set to extend losses after the Federal Reserve's latest minutes suggested it will start reducing its bond purchases this year. Jobless claims are due to provide further evidence of "substantial progress" (or not) toward the Fed's employment goals. The world's two biggest auto groups see chip-related disruptions continuing, while a new study supports the scientific case for vaccine booster shots. And in China, the country's biggest investor avoided collapse by accepting a state-led bailout. Here's what you need to know in financial markets on...

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Pounds falls to one-month low as edgy investors buy dollars By Reuters

LONDON (Reuters) - Sterling touched a new one-month low against a robust dollar on Friday and also slipped to a one-month low against the euro as global risk aversion propelled investors towards currencies considered safer. Risk currencies such as sterling have taken a knock this week on worries that the Delta coronavirus variant could derail the global recovery, boosting demand for the safe-haven dollar. Concerns that major central banks such as the U.S. Federal Reserve will begin tapering emergency stimulus just as growth slows has also undermined risk sentiment. Data released on Friday showed British...

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Norway wealth fund should push firms to cut emissions to nil, says panel By Reuters

OSLO (Reuters) - Norway's $1.4 trillion sovereign wealth fund, the world's largest, should push companies it invests in to eventually cut their greenhouse gas emissions to nil, in line with the Paris Agreement, a government-appointed commission said on Friday. Climate risk should also be made a part of the mandate of the fund, which is managed by Norway's central bank. The fund should also continue to invest across industries, including the oil and gas sector, and push companies to decarbonise. "The best way to decarbonise the fund is to decarbonise the companies the fund invests in,"...

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AstraZeneca’s antibody therapy prevents COVID-19 in study By Reuters

(Reuters) -AstraZeneca said on Friday its antibody therapy met the main goal of preventing COVID-19 disease in a late-stage study, putting the British drugmaker on track to potentially offer an alternative to vaccines for people with weakened immune systems. The company said the cocktail of two types of antibodies, initially discovered by Vanderbilt University Medical Center, reduced by 77% the risk of developing symptomatic COVID-19, the potentially deadly disease caused by the coronavirus. More than 75% of the participants had chronic conditions, including some linked to a diminished immune response to vaccination, it said. ...

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China Evergrande vows to resolve debt risks after regulators’ warning By Reuters

SHANGHAI/HONG KONG (Reuters) - China Evergrande, the country's most indebted property developer, pledged on Friday to do everything it can to resolve its debt issues, a day after receiving a rare warning from concerned regulators to get its house in order. Financial markets are worried that any crisis at Evergrande could ripple through China's banking system as the company struggles to find the cash it needs to pay its many lenders and suppliers. Evergrande also said it would work to maintain the stability of the real estate market, in a statement issued hours after the People's...

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All eyes on Fortress after Morrisons agrees rival CD&R takeover By Reuters

By James Davey LONDON (Reuters) - Shares in Morrisons jumped above the level of an agreed takeover offer from U.S. private equity group Clayton, Dubilier & Rice (CD&R) on Friday, indicating a protracted bid battle for the British supermarket may yet have further to run. Late on Thursday, Morrisons said its board would unanimously recommend CD&R's 285 pence a share offer worth 7 billion pounds ($9.54 billion) and drop its previous recommendation for a 6.7 billion pound bid from a consortium led by the SoftBank owned Fortress Investment Group. But shares in Morrisons were up 4.6%...

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UK pay awards hold steady again at 2% – XpertHR By Reuters

LONDON (Reuters) - Pay award increases for British workers held steady at an annual 2% in three months to July, a survey by human resources data provider XpertHR showed on Thursday. The figure was in line with the increases seen in the three months to April, May and June after a slump last year caused by the coronavirus pandemic. "2020 marked the worst year for pay awards since 2010, so it is welcoming to have seen pay deals rising and now stabilising," Sheila Attwood, XpertHR pay and benefits editor, said. "It is likely that awards will...

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Most Japan firms want Suga out of power despite Olympics success: Reuters poll By Reuters

By Tetsushi Kajimoto TOKYO (Reuters) - A majority of Japanese firms want Prime Minister Yoshihide Suga to lose office through general elections that must be held this year, frustrated with the lack of leadership in his handling of COVID-19 and its economic fallout, a Reuters poll showed. The Reuters Corporate Survey shows the Olympics did not help keep support for Prime Minister Yoshihide Suga from sliding below a make-or-break 30% threshold in some domestic media polls, clouding the fate of his premiership. "I cannot hold expectations for the opposition but at least the Suga administration should...

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Dollar holds firm as risk aversion hammers Canadian dollar, Aussie By Reuters

By Kevin Buckland TOKYO (Reuters) - The safe-haven U.S. dollar hovered near a 9-1/2-month high against major peers on Friday, buoyed by fears that the Delta coronavirus variant could delay the global economic recovery. The greenback has also been boosted by expectations the Federal Reserve could still start to taper stimulus this year, even with COVID-19 infections surging this month in the United States. The dollar index, which measures the currency against six rivals, was little changed at 93.544 from Thursday, when it touched 93.587 for the first time since early November. For the week, it's...

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