16 May

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Analysis: India’s once-in-a-century budget runs into trouble as virus strikes back By Reuters

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By Aftab Ahmed NEW DELHI (Reuters) - India's annual budget in February was lauded by many and raised hopes it would drive a sharp economic revival, but there are now fears that its promise may fall flat as it did not account for a crippling second wave of COVID-19 infections. The budget aimed to revive Asia's third-largest economy via investing in infrastructure and health care, while relying on an aggressive privatisation strategy and robust tax collections - on the back of projected growth of 10.5% - to fund its spending in the fiscal year. Finance...

16 May

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Germany’s Greens plan to cut jet fuel subsidies -Bild am Sonntag By Reuters

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FRANKFURT (Reuters) - The German Green party's candidate for chancellor, Annalena Baerbock, plans to cut jet fuel subsidies and abolish short-haul flights if she comes to power, she told weekly Bild am Sonntag. The Greens are riding high in the polls ahead of Germany's Sept. 26 election, with a very good chance of joining the next coalition government or even taking over the chancellery. The party, born in 1980 out of the ecologist movement of the late 1960s and 1970s, is tapping mounting concern about climate change, especially among young Germans demanding accelerated change. Baerbock told...

16 May

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Tesla crash victim lauded ‘full self-driving’ in videos on Tiktok By Reuters

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BERKELEY, California (Reuters) - A Tesla car driver killed in a recent accident in California praised the automaker's "full self-driving" features, and posted videos on his apparent Tiktok account, in which he appeared to drive with his hands off the wheel. On May 5, a Tesla Model 3 crashed into an overturned truck on a highway in Fontana, killing the Tesla driver and injuring the truck driver and a motorist who had stopped to help him. The Associated Press news agency cited police as saying a preliminary investigation had determined the Tesla's driver assistant system...

16 May

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Soros buys stocks linked to Bill Hwang’s Archegos collapse – Bloomberg News By Reuters

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(Reuters) - Billionaire George Soros' investment firm, Soros Fund Management bought shares of ViacomCBS Inc, Discovery Inc and Baidu Inc (NASDAQ:BIDU) as they were being sold off during the meltdown of Bill Hwang's Archegos Capital Management, Bloomberg News reported on Saturday. The fund bought $194 million of ViacomCBS, Baidu stock valued at $77 million, as well $46 million of Vipshop Holdings Ltd and $34 million of Tencent (HK:0700) Music Entertainment Group during the first quarter, the report said https://bloom.bg/2RUQQJZ citing a regulatory filing released on Friday. The company didn't hold the shares prior to Archegos's...

15 May

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Soccer-Spotify founder Ek says his bid for Arsenal was rejected By Reuters

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LONDON (Reuters) - Spotify CEO and founder Daniel Ek said on Saturday an offer to buy Premier League Arsenal had been rejected by owner Stan Kroenke's family. Ek took to Twitter to issue a statement correcting "inaccurate reports" that he had not made a bid. "This week an offer was made to both Josh Kroenke and their bankers that included fan ownership, representation at the board and a golden share for the supporters," the Swede said. "They replied that they don't need the money. "I respect their decision but remain interested and available should that situation...

15 May

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Easyjet Chairman Barton prepares to step down in 2022 By Reuters

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LONDON (Reuters) - EasyJet Chairman John Barton is preparing to step down once he has completed nine years in the post in May 2022, the British airline said in a statement on Saturday. The company has already started the search for a successor just as the airline industry battles to recover from the devastating impact on travel of the coronavirus pandemic. EasyJet is desperate to start flying at scale again this summer, but COVID-19 restrictions remain in place and worries over the spread of the Indian variant in Britain are threatening to hamper the hoped-for travel...

15 May

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Santander says technical difficulties affecting UK customers By Reuters

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LONDON (Reuters) - Santander (MC:SAN) told UK customers on Saturday a technical problem was affecting its services, stopping people from withdrawing funds from some of its cash machines and from logging onto their accounts online. The bank has 14 million customers in Britain and said in a statement on Twitter it was working hard to fix the problem. "We’re very sorry for any inconvenience," the bank said. "You can access cash from other bank's ATMs and at the Post Office." ...

15 May

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Former Italian PM Berlusconi slips out of hospital unseen By Reuters

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MILAN (Reuters) - Former Italian Prime Minister Silvio Berlusconi has left Milan's San Raffaele hospital after a five-day stay, a spokesman for his Forza Italia (Go Italy!) party said on Saturday. Berlusconi, 84, exited via a side entrance and was not seen by photographers and cameramen waiting outside the main doors. Speculation has mounted in recent days that Berlusconi's health is deteriorating badly. His doctors have not released a detailed update on his condition for weeks, however, his party denied on Friday that he was in a critical condition. "This is not the moment for obituaries,"...

15 May

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Italy’s Draghi cannot pass promised reforms, says League’s Salvini By Reuters

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By Crispian Balmer ROME (Reuters) - Italian Prime Minister Mario Draghi will not be able to enact key reforms demanded by the European Union because his unity government is too divided over the issues, rightist leader Matteo Salvini said on Saturday. Salvini, who heads the League, told newspapers he would back Draghi to become the next president in a parliamentary vote due in early 2022. If Draghi accepts the post, his coalition would automatically fall, opening the way for early elections. "In any case, it won't be this government that reforms the justice and tax system,"...

15 May

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Cairn Energy sues Air India to enforce $1.2 billion arbitration award – court filing By Reuters

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By Euan Rocha and Jonathan Stempel MUMBAI/NEW YORK (Reuters) - Cairn Energy has sued India's flagship carrier Air India to enforce a $1.2 billion arbitration award that it won in a tax dispute against India, according to a U.S. District Court filing reviewed by Reuters. The move ratchets up pressure on India's government to pay the sum of $1.2 billion plus interest and costs that the British firm Cairn was awarded by an arbitration tribunal in December. The body ruled India breached an investment treaty with Britain and said New Delhi was liable to pay. Cairn...

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Analysis: India’s once-in-a-century budget runs into trouble as virus strikes back By Reuters

Germany’s Greens plan to cut jet fuel subsidies -Bild am Sonntag By Reuters

Tesla crash victim lauded ‘full self-driving’ in videos on Tiktok By Reuters

Soros buys stocks linked to Bill Hwang’s Archegos collapse – Bloomberg News By Reuters

Soccer-Spotify founder Ek says his bid for Arsenal was rejected By Reuters

Easyjet Chairman Barton prepares to step down in 2022 By Reuters

Santander says technical difficulties affecting UK customers By Reuters

Former Italian PM Berlusconi slips out of hospital unseen By Reuters

Italy’s Draghi cannot pass promised reforms, says League’s Salvini By Reuters

Cairn Energy sues Air India to enforce $1.2 billion arbitration award – court filing By Reuters

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