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Dollar left wounded, Fed minutes and inflation in focus By Reuters

By Stanley White TOKYO (Reuters) - The U.S. dollar teetered near a six-year low against its Canadian counterpart and nursed losses against European currencies as expectations that U.S. interest rates will remain low undermined the greenback. The minutes from the U.S. Federal Reserve's most recent meeting due later on Wednesday are expected to confirm that policymakers think a rate hike is still in the distance. Investors will also be scrutinising consumer price data in Britain and Canada later in the trading day to determine how quickly major economies will be forced to rein in their accommodative...

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UK’s Johnson announces urban renewal plans after promise to “level up” By Reuters

LONDON (Reuters) - British Prime Minister Boris Johnson on Wednesday announced a series of urban renewal projects worth 830 million pounds ($1.2 billion) in towns and cities away from London as part of his promise to "level up" the country's economy. Johnson, who won a 2019 election thanks largely to voters in struggling regions of England and is facing pressure from nationalists in Scotland and Northern Ireland, also said more than 3,000 interior and business ministry jobs would move to Stoke-on-Trent in central England, Edinburgh and Belfast by 2025. "As the country gets back on its...

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How Myanmar’s military moved in on the telecoms sector to spy on citizens By Reuters

By Fanny Potkin and Poppy McPherson SINGAPORE/BANGKOK (Reuters) - In the months before the Myanmar military's Feb. 1 coup, the country's telecom and internet service providers were ordered to install intercept spyware that would allow the army to eavesdrop on the communications of citizens, sources with direct knowledge of the plan told Reuters. The technology gives the military the power to listen in on calls, view text messages and web traffic including emails, and track the locations of users without the assistance of the telecom and internet firms, the sources said. The directives are part...

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Cruise Liners Gain On Hope Business Will Come Booming By Investing.com

By Dhirendra Tripathi Investing.com – Shares of cruise liners rose Tuesday on hope that business will roar as they resume ship operations and achieve capacity in a not-too-distant future. Royal Caribbean Cruises (NYSE:RCL) and Norwegian Cruise (NYSE:NCLH) were both up around 2% while Carnival (NYSE:CCL) gained 3%. Some operators like Royal Caribbean have resumed sailing outside the U.S. in a very limited manner with plans for further rollout starting in July. The operators have submitted to Centers for Disease Control and Prevention their plans to resume cruises from U.S. ports in July....

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Take-Two Q4 Results Beat Estimates By Investing.com

By Yasin Ebrahim Take-Two (NASDAQ:TTWO) reported Tuesday better-than-expected fiscal fourth-quarter results driven by strong demand for its blockbuster roster of gaming franchises including Grand Theft Auto, Red Dead Redemption and NBA 2K. The company reported Q4 EPS of $1.88 on revenue of $839.4M, compared with estimates for EPS of $0.68 on revenue of $661.4M. Net Bookings - the net amount of products and services sold digitally or sold-in physically -  grew 8% to $784.5M. "The biggest contributors to net bookings for the quarter were NBA 2K21, Grand Theft Auto Online and Grand Theft Auto V, Red Dead Redemption 2 and Red Dead...

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Discovery extends CEO contract through 2027 after AT&T deal By Reuters

(Reuters) - Discovery Inc extended Chief Executive Officer David Zaslav's employment contract through Dec. 31, 2027, as he is expected to lead the proposed new company to be created by combining media assets with AT&T Inc (NYSE:T). Discovery and AT&T, owner of HBO and Warner Bros studios, said on Monday they will form a standalone global entertainment and media business. The enterprise value of the company will be more than $120 billion, carrying $58 billion in debt, including $43 billion from WarnerMedia and $15 billion from Discovery. (https://reut.rs/3eZjyT6) Discovery said on Tuesday the contract extension...

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Ireland moves to stop investment funds bulk-buying homes By Reuters

By Padraic Halpin and Conor Humphries DUBLIN (Reuters) - Ireland will impose a stamp duty charge of 10% on buyers of 10 or more houses and allocate up to 50% of housing developments for owner-occupiers in a bid to discourage bulk purchases by institutional investors. There was public outcry last week after an investment firm bought most of the homes for sale in a development outside Dublin, pushing a years-long scarcity of affordable housing and sky-high rents back to the top of the political agenda. The new rate is a sharp hike from the current 1%...

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France, African leaders push to redirect $100 billion in IMF SDR reserves by October By Reuters

By John Irish PARIS (Reuters) - French President Emmanuel Macron said on Tuesday a summit in Paris on Africa financing had agreed to work towards persuading rich nations by October to reallocate $100 billion in IMF special drawing rights monetary reserves to African states. Impoverished African economies must not be left behind in the post-pandemic economic recovery and a substantial financial package is needed to provide much-needed economic stimulus, African and European leaders concluded at a summit in Paris. In the immediate term, that meant accelerating the COVID-19 vaccine rollout and creating the fiscal breathing room...

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Stride Jumps On Report Pearson Wants To Buy It   By Investing.com

By Dhirendra Tripathi Investing.com – Stride (NYSE:LRN) shares rose more than 6% Tuesday, helped by a StreetInsider report that said Pearson (NYSE:PSO) is preparing to make a takeover approach for the online learning company. Pearson shares fell 1.5%. Online learning, a growing business even before the Covid-19 breakout, saw runaway success in the pandemic-afflicted environment. As more children return to school, growth may be adjusting itself to more reasonable levels, but the direction of the business remains steady. Bolstered by its earnings in the March quarter, Strides raised its guidance for the year. It said revenue...

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Retail Reports, Fed Minutes, NYC Welcomes You: 3 Things to Watch By Investing.com

By Christiana Sciaudone Investing.com -- Markets were up, markets were down, apparently a bit uncertain of where to go.  Tech stocks slipped, as did energy, with oil prices lower on fears Iranian oil may soon come to market in a revived U.S.-Iran nuclear deal. Alternative energy darlings FuelCell, Workhorse and Plug Power (NASDAQ:PLUG) jumped thanks to President Joe Biden's push to subsidize electric vehicles.   AT&T (NYSE:T) dropped after it said it will spin off its media business and merge it with Discovery (NASDAQ:DISCA) to create a streaming giant to take on Netflix...

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