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Australia Gets Paid to Borrow in First Sale at Negative Yields

(Bloomberg) -- Australia just joined New Zealand, Japan and most Europe nations in selling short-term bills at a negative yield. The auction of three-month Australian notes saw A$1.5 billion sold an average yield of 0.01%, though buyers who bid most aggressively at the sale received a yield of minus 0.01%. The negative yield means that the nation is being paid to borrow from...

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ECB Set to Pump More Cash Into Virus-Hit Economy: Decision Guide

(Bloomberg) -- The European Central Bank is poised to deliver another blast of monetary stimulus on Thursday to carry the euro area out of the pandemic crisis. With new lockdowns hammering the economy, vaccines only just arriving, and Brexit talks on a knife-edge, policy makers are expected to add 500 billion euros ($605 billion) to their emergency bond-buying program and extend it until...

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ADB Sees Shallower Asia Slump Amid Better China, India Prospects

(Bloomberg) -- Developing Asia’s economy will contract this year by less than previously estimated as it begins recovering from the coronavirus pandemic, according to the Asian Development Bank. The region’s gross domestic product will shrink 0.4% this year, an improvement from the 0.7% drop forecast in September, the ADB said in a supplement to its Asian Development Outlook, released Thursday. It kept the...

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DoorDash Soars in IPO to $60 Billion Market Cap

By Christiana Sciaudone Investing.com -- Doordash Inc (NYSE:DASH) is a smash hit. The food-delivery company opened trading at $182, a whopping 78% jump over the $102 at which it priced on Tuesday. The company sold 33 million shares -- originally marketed between $90 and $95 -- on Tuesday to raise $3.37 billion in its initial public offering and now...

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EU looks to Wall Street to solve fragmented share trading puzzle

By Huw Jones LONDON (Reuters) - Stock exchanges in the European Union could back each other up to avoid platform outages leading to extended market freezes for investors, a senior European Union official said on Wednesday. Euronext and Deutsche Boerse (DE:DB1Gn) have both had trading glitches in recent months and when the primary market for a listing goes down, other platforms that...

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Exclusive: Cannabis review site Weedmaps nears $1.5 billion deal to go public – sources

By Joshua Franklin (Reuters) - The operator of U.S. online platform Weedmaps, where users rate cannabis sellers, is nearing a deal to go public at a $1.5 billion valuation through a merger with a blank-check acquisition firm, people familiar with the matter said on Wednesday. WM Holding Co, which owns Weedmaps, plans to merge with Silver Spike Acquisition Corp, the sources said....

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Britain considers toughening tax rules on ‘sharing economy’

(Reuters) - The United Kingdom is considering tougher tax rules for the so-called sharing economy to lift revenue and ensure a "level playing field" for all businesses, a government paper showed. In a consultation document published on Wednesday, the UK Treasury said the growth of the sharing economy "could potentially create certain challenges to the VAT (value-added tax) base," and raised concerns...

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Facebook Swings Lower as FTC Sues for Antitrust Violations

By Yasin Ebrahim Facebook fell deeper into the red on Wednesday after the Federal Trade Commission and a slew of states sued the social media company for antitrust violations and called for the break up of the company.   Facebook (NASDAQ:FB) fell more than 2%. "We are taking action to stand up for the millions of consumers and many small businesses that have been...

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Border official warned Canadian police not to use passcodes to Huawei CFO phone, court hears

By Sarah Berman VANCOUVER (Reuters) - A Canadian border official warned police not to use passcodes gathered by border agents to access Huawei Chief Financial Officer Meng Wanzhou's phones following her arrest by the federal police two years ago, the official testified in court on Wednesday. Meng, 48, was arrested on Dec. 1, 2018, at Vancouver International Airport on a warrant from...

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