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Powell Returns, China Sell-Off, Booking, Nvidia Earnings – What’s up in Markets By Investing.com

By Geoffrey Smith  Investing.com -- Jerome Powell returns to Capitol Hill for another day of testimony, but he hasn’t calmed the bond markets entirely yet. China’s stocks sell off as Hong Kong signals a transaction tax hike. Booking (NASDAQ:BKNG).com and Nvidia report earnings and the U.S. government gives its data on U.S. oil inventories in the week that Texas froze. Here’s what you need...

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UK’s Lloyds targets wealth push and office cuts after profit drop By Reuters

By Iain Withers and Lawrence White LONDON (Reuters) - Lloyds Banking Group (LON:LLOY)'s outgoing Chief Executive António Horta-Osório set out fresh targets to expand the lender's insurance and wealth business and further cut costs, as the bank resumed a dividend despite a sharp fall in profits for 2020. Britain's biggest domestic lender reported pretax profits of 1.2 billion pounds ($1.7 billion), well...

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India shares higher at close of trade; Nifty 50 up 1.18% By Investing.com

Investing.com – India equities were higher at the close on Wednesday, as gains in the Banking, Public Sector Undertakings and Capital Goods sectors propelled shares higher. At the close in NSE, the Nifty 50 rose 1.18%, while the BSE Sensex 30 index added 0.96%. The biggest gainers of the session on the Nifty 50 were Coal India Ltd (NS:COAL),...

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British vaccine minister says confident in supply from manufacturers By Reuters

LONDON (Reuters) - Britain has confidence in its supply of COVID-19 vaccines and has good visibility on future supplies thanks to regular contacts with manufacturers over timetables for deliveries, the minister responsible for rolling out shots said on Wednesday. "We have real confidence in our supply and our visibility of supply," Nadhim Zahawi told lawmakers. "We...

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Former BOJ executive calls for ‘genuine’ review of central bank stimulus By Reuters

By Leika Kihara and Takahiko Wada TOKYO (Reuters) - The Bank of Japan must abandon the view it can influence public perceptions with monetary policy and conduct a "genuine" review that takes a harder look at the rising cost of prolonged easing, said former central bank deputy governor Hirohide Yamaguchi. The BOJ will conduct a review next month to make its monetary...

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Stronger pound dents FTSE 100; Lloyds rises By Reuters

(Reuters) - Britain's main stock index fell on Wednesday as a stronger pound weighed on exporters, while Lloyds Banking Group (LON:LLOY) rose 1.4% after the bank resumed a dividend despite a sharp drop in annual profit. The blue-chip FTSE 100 index was down 0.5% by 0812 GMT as sterling rose to a three-year high against the dollar. (GBP=) Financial and healthcare stocks,...

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Metro Bank expects defaults to rise as COVID-19 support measures fade out By Reuters

(Reuters) - Metro Bank posted a much bigger annual loss on Wednesday and said it expects defaults to rise through the year in line with its provisions as government support measures set in place due to the COVID-19 crisis are wound down. The mid-sized company, part of a breed of challenger banks set up to take on the dominance of bigger...

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Omega Diagnostics delivers update on AbC-19 rapid antibody Covid test By Investing.com

By Samuel Indyk Investing.com – Omega Diagnostics Group Plc (LON:ODX) has issued a statement after the UK Rapid Test Consortium (UK-RTC) issued a press release presenting new data relating to the performance of their AbC-19 rapid antibody test when used as a companion diagnostic to the Pfizer Inc (NYSE:PFE)-BioNTech SE (NASDAQ:BNTX) vaccine. During the University of Birmingham study, the...

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UK’s Sunak could extend stamp duty holiday until June-end – The Times By Reuters

(Reuters) - British finance minister Rishi Sunak is preparing to extend the stamp duty holiday by three months until the end of June in an attempt to boost activity in the housing market as the country emerges from lockdown, The Times reported on Wednesday. The extension to the policy, which covers sales of properties worth up to 500,000 pounds ($708,100), could cost...

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