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AB Foods raises full-year forecast after Primark sales rise

AB Foods raises full-year forecast after Primark sales rise

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Associated British Foods raised its forecast for full- year results following a strong performance by bargain fashion retailer Primark. A sharp fall in the value of sterling since last year’s Brexit vote, combined with below-inflation pay increases, has eaten into household budgets in Britain, forcing shoppers to tighten their belts…

Polish c.banker Lon says rate cut may be needed in coming months – PAP

Polish c.banker Lon says rate cut may be needed in coming months – PAP

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Polish interest rates may need to be lowered by 50 basis points in the coming months, state-run PAP quoted rate- setter Eryk Lon as saying, a minority view among the country’s 10-strong rate-setting panel. The central bank left rates unchanged last week at a record low of 1.5 percent, and…

Japan to sell $12 billion of Japan Post Holdings, growth potential under scrutiny

Japan to sell $12 billion of Japan Post Holdings, growth potential under scrutiny

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Japan’s government said it will sell $12 billion worth of Japan Post Holdings Co Ltd stock in an announcement that fund managers gave a tepid reception, saying limited growth prospects is likely to dull demand from institutional investors. The sale will be the first since the 2015 initial public offering…

Canada’s Eldorado suspends Greek investment over regulatory hurdles

Canada’s Eldorado suspends Greek investment over regulatory hurdles

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Canada’s Eldorado Gold Corp said it would suspend investment at its Greek mines and development projects, blaming regulatory hurdles for halting one of the biggest investments in Greece since the country’s debt crisis. Citing delays in permits from the Greek government, Eldorado said no additional investment would be made into…

Miners bolster European shares, Provident Financial plummets

Miners bolster European shares, Provident Financial plummets

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A flurry of results for heavyweight mining stocks and a dramatic plunge in Provident Financial’s shares injected some energy into European shares, with the region’s benchmark set to break a three-day losing streak in a typically sleepy month for market activity. The pan-European STOXX 600 rose 0.5 percent, having fallen…

Miner Antofagasta hikes dividend as profits surge

Miner Antofagasta hikes dividend as profits surge

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Chilean miner Antofagasta more than tripled its interim dividend after a rally in copper prices boosted first-half earnings, lifting its shares to a four-year high. The shares jumped as much as 5.5 percent to 1,007 pence, their highest since May 2013. Antofagasta, majority-owned by Chile’s Luksic family, raised its first-half…

UK pension regulator to prosecute former BHS owner Chappell

UK pension regulator to prosecute former BHS owner Chappell

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Britain’s Pensions Regulator is to prosecute Dominic Chappell for failing to provide information and documents requested during an investigation into the sale of department store chain BHS to him by retail tycoon Philip Green. Green sold the loss-making 180-store chain to Chappell’s Retail Acquisitions Ltd vehicle for 1 pound ($1.28)…

Asia Fuel Oil-Cracks slip on rising crude; trade activity muted

Asia Fuel Oil-Cracks slip on rising crude; trade activity muted

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Rising crude oil prices weighed on fuel oil cracks amid muted trade activity in both the physical and paper markets. CRACKS – Asia’s 180-cst fuel oil crack to Dubai crude for September slipped 17 cents a barrel from the previous session to minus $1.72 a barrel, its lowest since Aug.…

1MDB gets another extension from Abu Dhabi for missed $603 mln payment-source

1MDB gets another extension from Abu Dhabi for missed $603 mln payment-source

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Abu Dhabi has given scandal-plagued 1Malaysia Development Berhad (1MDB) until August 31 to make a $603 million debt settlement payment that was originally due in end-July, an Abu Dhabi based source with knowledge of the matter said. Under an agreement struck in April with Abu Dhabi state fund International Petroleum…

Turkey agrees to German lawmaker visit to troops, says Berlin

Turkey agrees to German lawmaker visit to troops, says Berlin

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Turkey has agreed to let German lawmakers visit soldiers serving at an air base in Turkey next month as part of a NATO trip, a letter from the German foreign minister showed, after Ankara refused a visit there in July. A row over access to German soldiers at Turkish bases…

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