21 August

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Factbox: Crisis pushes Afghanistan’s economy closer to the brink By Reuters

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By Tom Arnold and Krisztian Sandor LONDON (Reuters) - The Taliban sweeping to power in Afghanistan has thrust one of the world's poorest countries back into the limelight. The following charts depict Afghanistan's current economic situation: 1/GLUM GROWTH PROSPECTS Years of violence, instability and corruption have crippled Afghanistan's economy, making it difficult for businesses to flourish and keeping much of the population impoverished. After shrinking by 2% in 2020 due to the COVID-19 pandemic, gross domestic product (GDP) was on course to bounce back and grow by 2.7% this year as mobility and trade began...

21 August

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Switzerland offers Afghanistan good offices, charter flight for evacuees By Reuters

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By Brenna Hughes Neghaiwi ZURICH (Reuters) - Switzerland is ready to offer the services of its good offices to host international meetings or assist in peace talks surrounding the situation in Afghanistan, foreign ministry officials said on Friday. "Switzerland continues to stand ready to offer its good offices, that's a permanent offer," Johannes Matyassy, deputy head of the Federal Department of Foreign Affairs, told journalists during a press conference. "But here it is very important to add: that's provided the other involved parties want that," he added. Neutral Switzerland had provided mediation services related to Afghanistan...

21 August

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Large eurodollar futures contract trade signals year-end funding pressure By Reuters

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By Gertrude Chavez-Dreyfuss and Dhara Ranasinghe NEW YORK/LONDON (Reuters) - What appears to be a large bet placed this week in the eurodollar futures market that tracks short-term funding rate expectations over several years is signaling potential excessive year-end demand for U.S. dollars from banks and corporations. The volume for eurodollar futures contracts expiring December 2021 spiked on Thursday, which includes a massive open position of 200,000 contracts. Eurodollar futures is a bet on the direction of the short-term secured overnight financing rate (SOFR), the benchmark interest rate that is replacing Libor, which global banks use...

20 August

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Italy may fine easyJet, Wizz Air over surcharges for those accompanying minors, disabled By Reuters

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MILAN (Reuters) -Italy's civil aviation authority ENAC said it could fine budget carriers easyJet (LON:EZJ) and Wizz Air for charging extra fees for seats assigned to adults accompanying minors and disabled people. In a statement on Friday it said early checks showed the carriers had not yet upgraded their IT and operating systems to ensure customers were not charged extra when booking seats next to underage passengers or people with disabilities. "EasyJet believes it acted in full compliance with the rules in force and that the launch of proceedings to fine it is totally groundless," the...

20 August

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Exclusive: Ares seeks $4 billion for distressed investing – sources By Reuters

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By Chibuike Oguh (Reuters) - Private equity firm Ares Management Corp is seeking to raise $4 billion for its second fund that is focused on investing in the debt and equity of companies in financial distress, people familiar with the matter said on Friday. The Los Angeles-based firm raised its first such fund, Ares Special Opportunities Fund, in the wake of the COVID-19 pandemic last year, seeking to capitalize on the woes of companies hitting hard times. It amassed $3.5 billion from investors, significantly above its $2 billion target. The launch of Ares Special Opportunities Fund...

20 August

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Canada shares higher at close of trade; S&P/TSX Composite up 0.56% By Investing.com

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Investing.com – Canada equities were higher at the close on Friday, as gains in the Clean Technology, IT and Real Estate sectors propelled shares higher. At the close in Toronto, the S&P/TSX Composite added 0.56%. The biggest gainers of the session on the S&P/TSX Composite were Trillium Therapeutics Inc (TSX:TRIL), which rose 4.53% or 0.34 points to trade at 7.85 at the close. Lithium Americas Corp (TSX:LAC) added 4.44% or 0.91 points to end at 21.40 and Brookfield Business Partners LP (TSX:BBU_u) was up 4.36% or 2.18 points to 52.13...

20 August

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MARKET WRAP: FTSE ends the week on positive note, GBP soft, oil continues to fall By Investing.com

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Key Points FTSE 100 closing price of 7088, +0.4% M&S, Morrisons lead retail stocks higher GBP soft following weak retail sales Oil remains on back foot Bitcoin rallies after break back above 200DMA By Samuel Indyk Investing.com – The FTSE 100 ended the week on a positive note, although still finished 1.8% lower on the week as the Fed Minutes suggested they will begin tapering asset purchases by the end of the year. The retail sector was in focus on Friday. Marks and Spencer (LON:MKS) led the way higher after the company lifted its profit guidance...

20 August

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Putin says we need to set up good, neighbourly relations with Afghanistan By Reuters

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MOSCOW (Reuters) - President Vladimir Putin said on Friday it was not in Russia's interests to dwell on the results of the U.S. military campaign in Afghanistan and that it was important to establish good and neighbourly relations with Afghanistan. Putin, in comments following Kremlin talks with German Chancellor Angela Merkel, said that Moscow and its partners should unite to help people in Afghanistan. He said Russia was interested in the country being stable which it was not at the moment. ...

20 August

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PM Johnson says UK will work with Taliban if needed By Reuters

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LONDON (Reuters) - Prime Minister Boris Johnson said on Friday Britain would work with the Taliban if needed after the militants capture of Afghanistan, and defended his foreign minister who has come under fire for his handling of the situation. "What I want to assure people is that our political and diplomatic efforts to find a solution for Afghanistan, working with the Taliban, of course if necessary, will go on," Johnson told media. Asked if he still had confidence in Foreign Secretary Dominic Raab who has faced calls for his resignation from opponents for his...

20 August

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Deere, Foot Locker and Spotify Rise Premarket By Investing.com

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By Peter Nurse Investing.com -- Stocks in focus in premarket trade on Friday, August 20th. Please refresh for updates. Deere (NYSE:DE) stock rose 1.4% after the company beat expectations for third-quarter revenue and lifted its full-year earnings forecast on strong demand for its farm and construction equipment. Foot Locker (NYSE:FL) stock rose 8.6% after the athletic retailer reported better than expected second-quarter results, with comparable stores sales up 6.9%. Spotify (NYSE:SPOT) stock rose 2.3% after the streaming company unexpectedly announced a stock repurchase program...

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Factbox: Crisis pushes Afghanistan’s economy closer to the brink By Reuters

Switzerland offers Afghanistan good offices, charter flight for evacuees By Reuters

Large eurodollar futures contract trade signals year-end funding pressure By Reuters

Italy may fine easyJet, Wizz Air over surcharges for those accompanying minors, disabled By Reuters

Exclusive: Ares seeks $4 billion for distressed investing – sources By Reuters

Canada shares higher at close of trade; S&P/TSX Composite up 0.56% By Investing.com

MARKET WRAP: FTSE ends the week on positive note, GBP soft, oil continues to fall By Investing.com

Putin says we need to set up good, neighbourly relations with Afghanistan By Reuters

PM Johnson says UK will work with Taliban if needed By Reuters

Deere, Foot Locker and Spotify Rise Premarket By Investing.com

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