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Scania stops European truck production this week over chip shortage By Reuters

STOCKHOLM (Reuters) - Truckmaker Scania, part of Volkswagen (DE:VOWG_p) AG's commercial vehicle arm Traton SE, will halt production at its European truck plants this week due to the shortage of semi-conductors, it said on Monday. A global chip shortage during the past year has caused a major delay in manufacturing activity and forced several automakers to cut down on production. Scania is pausing production at its truck plants in Sweden, France and the Netherlands for the whole week, a company spokesperson said. "We are slowing down to a temporarily lower production volume," Scania press chief Karin...

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China cuts amount of time minors can spend on online games By Reuters

SHANGHAI (Reuters) - Chinese regulators on Monday slashed the amount of time players under the age of 18 can spend on online games to an hour of gameplay on Fridays, weekends and holidays, in response to growing concern over gaming addiction, state media reported. The rules, published by the National Press and Publication Administration, said users under the age of 18 will only be able to play games from 8 p.m. to 9 p.m. local time on those days, according to the Xinhua news agency. Online gaming companies will be barred from providing gaming...

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China cuts amount of time minors can spend on online games By Reuters

SHANGHAI (Reuters) -Chinese regulators on Monday slashed the amount of time players under the age of 18 can spend on online games to an hour of gameplay on Fridays, weekends and holidays, in response to growing concern over gaming addiction, state media reported. The rules, published by the National Press and Publication Administration, said users under the age of 18 will only be able to play games from 8 p.m. to 9 p.m. local time on those days, according to the Xinhua news agency. Online gaming companies will be barred from providing gaming services...

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French, euro zone economies should return to pre-COVID levels by early 2022 – Villeroy By Reuters

PARIS (Reuters) - The economies in France and the euro zone should be back to pre-COVID levels in early 2022 or maybe earlier, Bank of France Governor Francois Villeroy de Galhau said on Monday. Villeroy, who is also a European Central Bank policymaker, told BFM Business radio that there was no risk of higher inflation at this stage. ...

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Australia considering new laws for Apple, Google, WeChat digital wallets By Reuters

By Paulina Duran SYDNEY (Reuters) - The Australian government is considering new laws that would tighten the regulation of digital payment services by tech giants such as Apple (NASDAQ:AAPL) and Alphabet (NASDAQ:GOOGL)'s Google. Treasurer Josh Frydenberg said he would "carefully consider" that and other recommendations from a government-commissioned report into whether the payments system had kept pace with advances in technology and changes in consumer demand. Services such as Apple Pay, Google Pay and China's WeChat Pay, which have grown rapidly in recent years, are not currently designated as payment systems, putting them outside the regulatory...

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European stocks hold firm near record highs By Reuters

(Reuters) - European stocks inched higher on Monday, holding below record highs scaled earlier this month, as hopes that continued central bank support would sustain an economic recovery offset woes around the Delta variant of the coronavirus. UK markets were closed for a bank holiday, while Germany's DAX and France's CAC 40 were flat in early deals. The Europe-wide STOXX 600 rose 0.1%. The index was on course to end August with a more than 2% rise - its seventh straight month of gains in what would be its longest such winning run in over eight...

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Baxter in advanced talks to acquire Hill-Rom for about $10 billion -WSJ By Reuters

(Reuters) - U.S.-based medical technology company Baxter International Inc (NYSE:BAX) is in advanced talks to buy medical equipment maker Hill-Rom Holdings Inc for about $10 billion, the Wall Street Journal reported on Sunday, citing people familiar with the matter. A takeover deal could value Hill-Rom at around $150 per share, the report https://on.wsj.com/2WEA44h said, adding the deal could be reached by midweek if the talks do not fall apart. Hill-Rom, founded in 1915, offers services including smart beds for patients, diagnostics and monitoring technologies, according to the company's website. Baxter and Hill-Rom did not immediately...

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Hurricane Ida slams critical U.S. oil port as it makes landfall By Reuters

By Liz Hampton and Marianna Parraga (Reuters) -Hurricane Ida made landfall on Sunday as a Category 4 storm near Port Fourchon, Louisiana, lashing critical U.S. oil infrastructure with winds up to 150 miles per hour (240 km per hour). The Louisiana Offshore Oil Port (LOOP), the largest privately-owned crude terminal in the United States, paused deliveries ahead of the storm after forecasts indicated possible impacts to its operational areas. LOOP's marine terminal is located in open waters about 18 nautical miles (29 km) off the shores of Louisiana, while Port Fourchon is its land...

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Asian shares rise on dovish Fed chair, oil up as hurricane batters Louisiana By Reuters

By Alun John HONG KONG (Reuters) - Asian shares started the week with gains and the dollar was not far off two-week lows after U.S. Federal Reserve Chairman Jerome Powell struck a more dovish tone than some investors expected in long-awaited speech on Friday. Oil prices rose, meanwhile, after energy firms suspended production as Hurricane Ida slammed into the U.S.' southern coast. Japan's Nikkei rose 0.9% soon after the bell, and MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.32% in early trading before Chinese markets had opened. Australia climbed 0.39% and...

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Dollar pinned as Powell plods toward tapering By Reuters

By Tom Westbrook SINGAPORE (Reuters) - The dollar was nursing losses on Monday and kept near multi-week lows after Federal Reserve Chair Jerome Powell laid out a slower-than-expected path to rate hikes, while a storm lashing oilfields in the Gulf of Mexico lifted oil-exposed currencies. The greenback had dropped broadly on Friday, falling to a two-week low on the euro, after Powell managed to flag an exit from emergency monetary policy settings that did not spook markets or suggest a rush to raise interest rates. "It could be appropriate to start reducing the pace of asset...

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