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January 14, 2019 8:10 AM UK trade minister Fox says no Brexit deal is default government policy

LONDON (Reuters) - The default policy of the British government is to leave the European Union on March 29 without any deal if Prime Minister Theresa May cannot get an agreement through parliament, International Trade Secretary Liam Fox said on Monday. “The government will want to leave with a deal but the government will want to prepare for no deal if it’s impossible 178

January 12, 2019 3:05 AM Pemex's New York roadshow spooks investors, yields spike

MEXICO CITY (Reuters) - Yields on the debt of Mexican state-run oil company Pemex rose sharply this week after the company failed during presentations in New York to lay out a clear plan to reduce debt and increase output, analysts said. Pemex faces the possibility of a credit ratings downgrade due to costly proposals by the new government of leftist 240

January 11, 2019 6:22 PM What's moving markets today

The British pound briefly jumped as much as 0.5% to above $1.28 after the Evening Standard newspaper said Brexit could be delayed. The London newspaper, which is edited by former UK treasury chief George Osborne, cited UK cabinet ministers as the source of the information. The UK is scheduled to leave the EU on March 29, but Prime Minister Theresa May has not yet secured 183

January 9, 2019 10:48 AM Germany: Must prepare for no-deal Brexit until UK parliament ratifies deal

BERLIN (Reuters) - German Economy Minister Peter Altmaier said on Wednesday that he hoped a Brexit deal would be ratified in time for Britain’s planned departure from the European Union in March but it was necessary to keep preparing for a no-deal scenario until then. Altmaier, who was meeting Britain’s Business Minister Greg Clark in Berlin on Wednesday 174

January 9, 2019 7:26 AM Apple cuts current-quarter production plan for new iPhones by 10 percent: Nikkei

(Reuters) - Apple Inc (AAPL.O), which slashed its quarterly sales forecast last week, has reduced planned production for its three new iPhone models by about 10 percent for the January-March quarter, the Nikkei Asian Review reported on Wednesday. That rare forecast cut exposed weakening iPhone demand in China, the world’s biggest smartphone market, where 181

January 8, 2019 4:16 PM Like Apple, Samsung Feels Sting of Slowed Global Economic Growth

(NEW YORK) — Samsung expects its quarterly operating profit to fall 29 percent compared with last year, potentially unsettling a tech sector already skittish about slowing global economic growth. The announcement from the South Korean computer chip and smartphone giant comes less than a week after a weak outlook from Apple Inc. jolted markets 176

January 8, 2019 1:02 PM India forms panel to deepen digital payments, led by Infosys' Nilekani

MUMBAI (Reuters) - India’s central bank on Tuesday said it has constituted a panel with Infosys chairman Nandan Nilekani as its head in a bid to deepen digital payments in Asia’s third-biggest economy. The five-member panel, which includes a former deputy governor of the Reserve Bank of India (RBI), will identify ways to widen financial inclusion via the use of digital 195

January 6, 2019 11:28 AM Iran's central bank proposes slashing four zeros from falling currency: IRNA

DUBAI (Reuters) - Iran’s central bank has proposed slashing four zeros from the rial, state news agency IRNA reported on Sunday, after the currency plunged in a year marked by an economic crisis fueled by U.S. sanctions. “A bill to remove four zeros from the national currency was presented to the government by the central bank yesterday and I hope this matter 142

January 4, 2019 9:36 AM UK pay gap between CEOs and staff widens -lobby group

LONDON (Reuters) - The earnings of Britain’s top bosses will match a typical worker’s entire annual salary even faster than last year, hitting the mark by Friday lunchtime, a report by the Chartered Institute of Personnel & Development and High Pay Centre said. The widening pay gap comes despite pressure from leading investors for excessive pay to be reined 116

January 4, 2019 4:46 AM US and China to hold trade talks in Beijing next week

A US delegation will visit China next week for talks aimed at defusing the trade war between the world's two largest economies. The closely watched meeting follows a dismal week for US markets, with losses fuelled partly by trade fears. Last year, China and the US imposed tariffs on more than $300bn (£237bn) worth of each other's goods. It will be the first 116