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Asia stocks off to cautious start, eye China data By Reuters

By Wayne Cole SYDNEY (Reuters) - Asian share markets made a cautious start to the week on Monday ahead of a raft of Chinese data that could confirm a slowdown in the giant economy, as much of the world races to stem the spread of the Delta variant of COVID-19 with vaccinations. Figures on retail sales, industrial production and urban investment are forecast to show a modest pullback in activity in China in July, a trend likely to be worsened by the recent tightening in coronavirus restrictions. There was some uncertainty about the possible geopolitical implications...

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Canadian prime minister to visit governor general on Sunday over election call By Reuters

By David Ljunggren and Steve Scherer OTTAWA (Reuters) - Canadian Prime Minister Justin Trudeau will visit Governor General Mary Simon on Sunday at 1000 ET (1400 GMT), when he is expected to seek a federal election next month, two years ahead of schedule. In a statement from the Liberal prime minister's office on Saturday, there was no mention of the reason for the meeting, but Trudeau is expected to ask Simon, the representative of Queen Elizabeth, Canada's head of state, to formally dissolve Parliament, as Reuters first reported https://www.reuters.com/world/americas/canada-pm-trudeau-is-planning-call-snap-election-sept-20-sources-2021-08-12 two days ago. Constitutional experts say Simon...

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Dealmaking Surge Shrinks Ranks of Poultry-Only U.S. Meatpackers By Bloomberg

(Bloomberg) -- Investors looking for a ways to profit from the surging American chicken industry will soon have fewer options. Deals announced this week for Pilgrim’s Pride Corp. and Sanderson Farms (NASDAQ:SAFM) Inc., respectively the second- and third-biggest U.S. poultry producers, would result in each being rolled into a bigger company. The moves would absorb the last “pure play” U.S. chicken producers and come as the poultry market has been boosted by soaring sales of the meat at grocery stores and chicken sandwiches at restaurants. The acquisitions may also mean less...

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German Greens’ chancellor candidate urges higher tariffs on Chinese imports By Reuters

FRANKFURT (Reuters) - Germany's Green Party's chancellor candidate said the European Union should impose tougher barriers for Chinese imports to prevent dumping and poor environmental standards. "We have to uphold standards when there is dumping in other world regions," Greens candidate Annalena Baerbock told Sunday paper Frankfurter Allgemeine Sonntagszeitung (FAS) in an interview. "This could for instance take the form of a surcharge on companies that have been subsidised on the Chinese market or that are not subject to environmental standards," she added. Chancellor Angela Merkel's Christian Democrats, currently governing in coalition with the centre-left...

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Vodafone Idea posts lowest quarterly revenue in more than two years By Reuters

MUMBAI (Reuters) - Indian telecom operator Vodafone Idea Ltd on Saturday reported its lowest quarterly revenue in more than two years and a wider than expected loss, as it continued to lose subscribers to rivals due to intensifying competition. The company, a joint venture between Vodafone Group (LON:VOD) and India's Idea Cellular, said in a statement its revenue had declined on account of a slowdown in economic activity due to COVID-19 restrictions. Revenue for the quarter through June fell to 91.52 billion rupees from 106.59 billion a year earlier. Its subscriber base slipped to...

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British ministers drawing up plans to cut thousands of civil service jobs – The Times By Reuters

(Reuters) - British ministers are drawing up plans to cut thousands of civil service jobs as part of a three-year review of government spending, The Times newspaper reported. The UK Treasury has told departments to identify cuts in day-to-day budgets before the spending review this autumn, the newspaper said, citing sources. Ministers and officials have been told they need to reverse headcount increases as a result of Brexit and the coronavirus outbreak, according to the newspaper. Civil service unions have been told most of the cuts will be achieved by not recruiting externally...

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Dollar off 4-month high as cooling inflation eases pressure for Fed By Reuters

By Kevin Buckland TOKYO (Reuters) - The dollar held near a four-month peak against major peers on Thursday after retreating overnight as a cooling in consumer inflation tempered bets for an earlier tightening of U.S. monetary policy. The dollar index, which measures the greenback against a basket of six rivals, was little changed at 92.890, following a 0.19% decline from Wednesday, when it rose as high as 93.195, a level not seen since April 1. The consumer price index rose 0.5% last month, in line with economist estimates but down from the 0.9% advance in June....

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Analysis: Taliban gains give investors cause for concern beyond Afghanistan By Reuters

By Marc Jones LONDON (Reuters) - The Taliban's rapid advance towards Kabul is not only causing concern about Afghanistan's future but also about the impact on other countries in the region and their economies. Iran and then Iraq lie to the west of Afghanistan. Tajikistan, Turkmenistan and Uzbekistan are to the north. But the immediate focus for financial markets and investors is Pakistan to the east. Pakistan has a large public debt, a sizeable equity market and is dependent on a $6-billion IMF programme. The prospect of years of violence and waves of refugees will...

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