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World - UK Conservative Party chairman says Brexit must be binding


By Jemima Kelly LONDON (Reuters) - Britain`s vote to leave the European Union must be binding, the chairman of Britain`s ruling Conservative Party said on Sunday, and Article 50, which formally starts the exit process from the bloc, would be triggered before the next election. Patrick McLoughlin, who was made party chairman by new Prime Minister Theresa May last week, told the BBC`s Marr Show that the vote for Brexit meant Britain must now get control of its own borders and that immigration must be reduced. Asked about a report in the Observer newspaper that an `emergency brake` on the free movement of people was being discussed, which would allow Britain to keep access to the European single market, McLoughlin said: `let us see.` `I`m quite clear that the referendum result is binding on parliament,` he said.


Sunday, July 24, 2016  13:14

Yahoo

Business - Melker Schorling, Sweden`s quiet tycoon with the Midas touch


By Mia Shanley and Niklas Pollard STOCKHOLM (Reuters) - Business tycoon Melker Schorling, one of Sweden`s most prominent investors, says he is well-positioned to expand his 60 billion crown ($7 billion) investment empire even as he prepares to hand over affairs to his daughters. MSAB, the holding company he set up in 1999 which spans a diverse set of companies from measurement technology to locks and guards, has consistently outperformed larger rivals. Investors attribute Schorling`s success to a knack for picking small specialists which go on to become global market leaders.


Sunday, July 24, 2016  13:00

Yahoo

Business - Bottom line: brands chase China`s high-end lingerie market


High-end lingerie sales are outpacing China`s generally downbeat luxury market, and heating up competition between international brands and local rivals looking to go upmarket. U.S. brand Victoria`s Secret will open its first store, and companies including Italy`s ultra-luxury La Perla and Germany`s Triumph are adding stores and moving beyond China`s mega-cities to tap a lingerie market that has more than doubled in five years to $18 billion, according to Mintel Group. `Luxury is ... not about buying to show off, it`s about buying items that make you feel good,` says Chiara Scaglia, La Perla`s Asia chief.


Sunday, July 24, 2016  03:18

CNN

Market - Cheap oil is crushing Middle Eastern countries


Saudi Arabia, Qatar and Iran count on oil exports. But oil in the current $40 to $50 range is already below the break-even point for many Middle Eastern nations.


Sunday, July 24, 2016  03:24

Yahoo

Business - China`s growth sucks in more debt bucks for less bang


As China`s economy notches up another quarter of steady growth, the pace of credit creation grows ever more frantic for every extra unit of production, as inefficient state firms swallow an increasing share of lending. `The amount of debt that China has taken in the last 5-7 years is unprecedented,` said Morgan Stanley`s head of emerging markets, Ruchir Sharma, at a book launch in Singapore. While Beijing can take comfort that loose money and more deficit spending are averting a more painful slowdown, the rapidly diminishing returns from such stimulus policies, coupled with rising defaults and non-performing loans, are creating what Sharma calls `fertile (ground) for some accident to happen`.


Sunday, July 24, 2016  02:35

Yahoo

Business - Insight: Melker Schorling, Sweden`s quiet tycoon with the Midas touch


By Mia Shanley and Niklas Pollard STOCKHOLM (Reuters) - Business tycoon Melker Schorling, one of Sweden`s most prominent investors, says he is well-positioned to expand his 60 billion crown ($7 billion) investment empire even as he prepares to hand over affairs to his daughters. MSAB , the holding company he set up in 1999 which spans a diverse set of companies from measurement technology to locks and guards, has consistently outperformed larger rivals. Investors attribute Schorling`s success to a knack for picking small specialists which go on to become global market leaders.


Sunday, July 24, 2016  12:42

Yahoo

Business - Corporate raiders seek Brexit bargains in Britain


By Pamela Barbaglia and Freya Berry LONDON (Reuters) - Overseas buyers lured by a plunge in the pound are looking to snare British companies on the cheap, ensuring a steady flow of deals since Britain voted to leave the European Union and defying expectations of an M&A drought. Almost 60 transactions totalling $34.5 billion have been struck by foreign companies for British firms since June 23, according to Thomson Reuters data, compared with 79 deals amounting to $4.3 billion in the month leading up to the vote. This activity - dominated by Japanese group SoftBank`s $32 billion swoop for chip designer ARM Holdings - has defied warnings that dealmaking could dry up for a period if Britain backed Brexit, given uncertainty surrounding risks to the economy and access to the EU single market.


Sunday, July 24, 2016  11:41

Yahoo

Business - Apple weathers anti-U.S. demo in China, where patriotic protests snowball


Apple Inc found itself on the receiving end of a small, short-lived anti-U.S. protest this week in China, the tech firm`s biggest overseas market and a country where foreign firms have suffered damaging boycotts following international spats. A handful of unofficial Apple stores were picketed and social media users encouraged each other to destroy their Apple goods, in a rare instance of the tech firm being targeted as a symbol of perceived injustice following an international ruling against Chinese territorial claims. `There`s not much Apple or any other foreign firm can do to prevent such patriotic protests,` said analyst Nicole Peng at researcher Canalys, who sees no impact to Apple`s sales from the recent protest.


Sunday, July 24, 2016  01:23

Yahoo

World - London, US shares up but global equities mixed


European stocks mostly slid Monday after a failed coup in Turkey but a mega takeover of a British iPhone chip designer propped up London equities, while Wall Street also firmed slightly.


Monday, July 18, 2016  17:53

Yahoo

World - Global stocks resilient amid solid corporate earnings


LONDON (AP) Stock markets around the world were proving resilient on Wednesday in the face of a fairly gloomy economic outlook from the International Monetary Fund. How U.S. markets perform, however, could hinge on a raft of corporate earnings statements.


Wednesday, July 20, 2016  13:38

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