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UK will resist EU pressure on banks over clearing – BoE’s Bailey By Reuters

By Huw Jones and David Milliken LONDON (Reuters) - Britain will resist "very firmly" any European Union attempts to arm-twist banks into shifting trillions of euros in derivatives clearing from Britain to the bloc after Brexit, Bank of England Governor Andrew Bailey said on Wednesday. Europe's top banks have been asked by the European Commission to justify why they should not have...

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Wall Street Falls at Open as Bond Yields Surge to New Highs; Dow Down 80 Pts By Investing.com

By Geoffrey Smith  Investing.com -- U.S. stock markets fell again at the opening on Wednesday, as fears of higher inflation drove long-term bond yields higher.  The 10-Year Treasury not yield rose to a new 12-month high of 1.4%, after Federal Reserve Chairman Jerome Powell recommitted in testimony to the Senate Banking Committee to a policy stance that is aggressively reflationary. He's expected to...

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U.K. shares higher at close of trade; Investing.com United Kingdom 100 up 0.47% By Investing.com

Investing.com – U.K. equities were higher at the close on Wednesday, as gains in the Oil & Gas Producers, Oil Equipment Services & Distribution and Aerospace & Defense sectors propelled shares higher. At the close in London, the Investing.com United Kingdom 100 gained 0.47%. The biggest gainers of the session on the Investing.com United Kingdom 100 were Tui AG (LON:TUIT), which...

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FTSE 100 jumps as pound pares gains; bitcoin below $50k By Investing.com

By Samuel Indyk Key points FTSE shines as oil and airline stocks rally Dow back at record high GBP rally fades for now, GBP/USD below 1.4100 WTI and Brent march higher Bitcoin decline slows, Square (NYSE:SQ) and MicroStrategy Incorporated (NASDAQ:MSTR) announce purchases Investing.com – The FTSE 100 traded higher on Wednesday, led by airline and oil & gas stocks. International Consolidated...

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IMF chief urges strong G20 action to reverse ‘dangerous divergence’ in global economy By Reuters

WASHINGTON (Reuters) - Group of 20 countries should take strong policy actions to reverse a "dangerous divergence" that threatens to leave most developing economies languishing for years, the head of the International Monetary Fund said in a blog on Wednesday. IMF Managing Director Kristalina Georgieva said "much stronger international collaboration" was needed to accelerate the rollout of COVID-19 vaccines in poorer countries,...

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Bank of England’s Haskel says open to more stimulus By Reuters

LONDON (Reuters) - Bank of England rate-setter Jonathan Haskel said on Wednesday he was open to the possibility that Britain's economy will need more stimulus as he emphasised downside risks to the outlook. "With downside risks to the outlook and taking risk management into consideration, as I have done previously, I remain open to the possibility that the economy might need...

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Facebook to invest $1 billion in news industry after Australia row By Reuters

(Reuters) - Facebook Inc (NASDAQ:FB) on Wednesday pledged to invest at least $1 billion in the news industry over the next three years, days after a high-profile stand-off with the Australian government over paying news outlets for content. The social network's commitment to the news industry follows Google (NASDAQ:GOOGL)'s $1 billion...

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EU seeks views on gig workers’ rights ahead of possible law By Reuters

By Foo Yun Chee BRUSSELS (Reuters) - The European Commission on Wednesday took a step towards improving the rights of gig economy workers with the launch of a public consultation to determine their legal employment status and how to improve their working conditions. Lockdowns to contain the COVID-19 pandemic have increased demand for casual workers as food deliverers have hired drivers, while...

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India shares higher at close of trade; Nifty 50 up 1.86% By Investing.com

Investing.com – India equities were higher at the close on Wednesday, as gains in the Banking, Capital Goods and Carbon sectors propelled shares higher. At the close in NSE, the Nifty 50 rose 1.86%, while the BSE Sensex 30 index climbed 2.07%. The biggest gainers of the session on the Nifty 50 were HDFC Bank Ltd (NS:HDBK), which rose...

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