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EXCLUSIVE Beijing gives first nod to revive Ant IPO after crackdown chills sources

Ant aims to file preliminary prospectus as soon as July – sources Ant needs CSRC guidance on when to file source prospectus Ant says there are no plans to relaunch its IPO statement Warburg Pincus valued Ant at $180 billion at the end of March HONG KONG, June 9 (Reuters) – China’s central management has …

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Stocks fall as sentiment dips on rate fears and yields rise

Investors cautious ahead of ECB meeting and US CPI data White House expects next inflation numbers to be high Crude hits 13-week high on rising US demand Global growth concerns sap investment sentiment NEW YORK, June 8 (Reuters) – U.S. and European stocks fell on Wednesday as prospects for a rate hike dampened sentiment, while …

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US SEC chief unveils plan to overhaul Wall Street stock trading

WASHINGTON/NEW YORK, June 8 (Reuters) – The top U.S. securities regulator proposed rule changes on Wednesday to transform the way Wall Street handles retail stock trading after last year’s stock market meme raised questions about whether mom-and-pop investors were getting the best price. The plan, unveiled by U.S. Securities and Exchange Commission Chairman Gary Gensler, …

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Sheryl Sandberg, owner of Facebook, Meta Platforms, will leave after 14 years

June 1 (Reuters) – Meta Platforms Inc (FB.O) COO Sheryl Sandberg, whose close partnership with CEO Mark Zuckerberg fueled the growth of the world’s largest social network, is leaving the company after 14 years, she said in a post on Wednesday. Facebook. The announcement initially sent shares of the social media company down 4%, but …

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How a cheap component could help kill combustion cars

LONDON/BERLIN, May 30 (Reuters) – The humble wiring harness, a cheap component that bundles cables together, has become an unlikely bane of the automotive industry. Some predict that this could accelerate the fall of combustion cars. The auto part’s supply has been stifled by war in Ukraine, home to a large share of global production, …

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Zero-COVID, big money: China’s anti-virus spending boosts medicine, tech and construction

BEIJING, May 30 (Reuters) – China’s “zero-COVID” policy of constantly monitoring, testing and isolating its citizens to prevent the spread of the coronavirus has hit much of the country’s economy, but it has created growth bubbles in the medical, technology and construction sectors. The Chinese government, alone among major countries to have pledged to eradicate …

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Box Office: ‘Top Gun: Maverick’ Debuts at Stratospheric $124 Million

LOS ANGELES, May 29 (Variety.com) — Tom Cruise may have pulled off one of the most daring stunts of his career: tricking audiences into going to the movies for something that doesn’t involve superheroes. “Top Gun: Maverick” scored blockbuster ticket sales in its opening weekend, grossing $134 million from a record 4,732 North American theaters. …

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Alibaba suspends advice due to COVID risks; Resilient Q4 raises stock

The Alibaba Group logo is seen at its office in Beijing, China January 5, 2021. REUTERS/Thomas Peter Join now for FREE unlimited access to Reuters.com Register Fourth-quarter adjusted profit of 7.95 yuan/share vs. estimate of 7.31 yuan/share Fourth-quarter revenue up 9% to 204.05 billion yuan from an estimate of 199.25 billion yuan Analysts say Q4 …

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