21 May

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Italy’s antitrust starts probe into alleged cartel among insurance companies By Reuters

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MILAN (Reuters) - Italy's competition watchdog antitrust said on Friday it had opened an investigation into an alleged cartel among insurance companies and price comparators in the motor business. In a statement the regulator said the companies involved would regularly exchange sensitive information on the economic conditions of policies sales by sharing reports drawn up by the price comparison companies. ...

21 May

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From one billionaire to another: 10% Swiss Steel stake changes hands By Reuters

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ZURICH (Reuters) - Billionaire entrepreneur and trainmaker Peter Spuhler is buying a 10% stake in Swiss Steel from billionaire car dealer Martin Haefner, the steelmaker said on Friday, adding another wealthy owner to the Swiss company's list of shareholders. "Swiss Steel Holding AG has been informed that BigPoint Holding AG has sold 306,000,000 shares of Swiss Steel Holding AG to PCS Holding AG," the firm said in a statement, corresponding to about a tenth of share capital and voting rights. Through BigPoint, which previously held 51.4% of Swiss Steel, Haefner also controls automobile importer and dealer...

21 May

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Sterling steadies after strong retail sales data; PMIs in focus By Reuters

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LONDON(Reuters) - The British pound was steady in early trading on Friday, on track for a weekly rise versus the dollar, after better-than-expected retail sales data kept investors upbeat about the prospects for the United Kingdom's economic recovery. British retail sales surged in April, with sales volumes jumping by 9.2% month-on-month - twice the average forecast in a Reuters poll of economists. The data surprise saw sterling jump to as high as $1.4201, although the move was not sustained. At 0740 GMT, the pound was at $1.41730, down 0.1% on the day. Versus the euro,...

21 May

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Japan’s jobless rate seen up, Tokyo CPI far below BOJ’s inflation goal: Reuters poll By Reuters

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By Tetsushi Kajimoto TOKYO (Reuters) - Japan's unemployment rate probably inched up in April, a Reuters poll found, in the latest sign of a slight deterioration in the job market as the coronavirus pandemic hits the labour-intensive service sector. Other data next week is expected to show the Tokyo-area consumer price index (CPI) fell again in May as cuts in mobile phone fees by major carriers added to downward pressure on prices, making the central bank's 2% inflation goal appear even more elusive. The weak indicators will likely highlight the fragile nature of the country's...

21 May

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Rugby: South Africa returns as Rugby Championship schedule announced By Reuters

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SYDNEY (Reuters) - World champions South Africa will return to the Rugby Championship this year but it is not entirely back to normal for the southern hemisphere test championship, governing body SANZAAR said in announcing the fixtures on Friday. The 2020 tournament was played entirely in Australia and renamed the Tri-Nations after the Springboks pulled out amid the COVID-19 pandemic. South Africa will host two matches against Argentina in this year's tournament with the remaining 10 matches split evenly between Australia and New Zealand. "We simply cannot play matches in Argentina at present due...

21 May

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SoftBank nominates Koei gaming exec to board By Reuters

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TOKYO (Reuters) - SoftBank Group Corp said on Friday it has nominated the chair of gaming firm Koei Tecmo Holdings and the co-CEO of internet business Z Holdings to join its board. ...

21 May

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Britain’s Travis Perkins sells plumbing business for 325 million stg By Reuters

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LONDON (Reuters) - Travis Perkins (LON:TPK), Britain's biggest seller of building materials, has sold its plumbing and heating business to an affiliate of investment firm H.I.G. Capital for 325 million pounds ($461 million), it said on Friday. The group said that alongside the recent demerger of its Wickes home improvement business the sale of plumbing and heating represents the completion of its plan to reduce the size of its portfolio, first outlined in 2018. ($1 = 0.7043 pounds)...

21 May

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Electra Private Equity plans to list TGI Fridays, Hotter Shoes By Reuters

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(Reuters) - Electra Private Equity (LON:ELTA) said on Friday that it plans to list TGI Fridays and Hotter Shoes, its two remaining portfolio companies, as the British buyout firm prepares to wind down. The company said it aims to list restaurant chain TGI Fridays on the main market of the London Stock Exchange in the third quarter of 2021. It then plans to list Hotter Shoes on AIM in the fourth quarter by reclassifying its own listing so that it becomes the listing vehicle for the footwear retailer. One of Britain's oldest private...

21 May

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Dollar heads for weekly loss as traders shrug off taper talk By Reuters

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By Tom Westbrook SINGAPORE (Reuters) - The dollar was pinned near milestone lows on Friday, and headed for a weekly loss, as traders' initial concerns at taper talk in Federal Reserve minutes ebbed - with actual tapering seeming distant - while pandemic recovery boosted other currencies. On Wednesday, minutes from the April Fed meeting noted some committee members think that if the economy keeps improving, it might be appropriate, at upcoming meetings, to "begin discussing a plan for adjusting the pace of asset purchases". But after bouncing off a four-month low on the euro as the...

21 May

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Vaccine rollout a big shot in the arm to UK growth outlook – Reuters poll By Reuters

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By Jonathan Cable LONDON (Reuters) - Britain's economy will grow much faster than expected this year as a fast-moving coronavirus vaccine programme allows businesses to re-open and lifts confidence, a Reuters poll found. The country has suffered the highest COVID-19 related death toll in Europe, despite stringent lockdowns to try to contain its spread. But it has administered around 58 million coronavirus vaccine doses, including about 21 million citizens having had second shots. On Monday, England further relaxed more of those lockdown restrictions, allowing cafes, bars and restaurants to reopen for indoor service and gatherings of...

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Italy’s antitrust starts probe into alleged cartel among insurance companies By Reuters

From one billionaire to another: 10% Swiss Steel stake changes hands By Reuters

Sterling steadies after strong retail sales data; PMIs in focus By Reuters

Japan’s jobless rate seen up, Tokyo CPI far below BOJ’s inflation goal: Reuters poll By Reuters

Rugby: South Africa returns as Rugby Championship schedule announced By Reuters

SoftBank nominates Koei gaming exec to board By Reuters

Britain’s Travis Perkins sells plumbing business for 325 million stg By Reuters

Electra Private Equity plans to list TGI Fridays, Hotter Shoes By Reuters

Dollar heads for weekly loss as traders shrug off taper talk By Reuters

Vaccine rollout a big shot in the arm to UK growth outlook – Reuters poll By Reuters

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