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Hyundai Motor second-quarter net profit rises 31.2%, new models boost domestic sales

4 hours ago NAMEX Comments Off on Hyundai Motor second-quarter net profit rises 31.2%, new models boost domestic sales
FILE PHOTO: The Hyundai logo is seen during the first press day of the Paris auto show, in Paris, France, October 2, 2018. REUTERS/Regis Duvignau/File Photo SEOUL (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) on Monday said second-quarter net profit climbed 31.2%, as a weaker local currency helped lift U.S. income, while new models Read More

China Southern Airlines to receive $4 billion capital injection

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FILE PHOTO: The company logo of China Southern Airlines is displayed at a news conference in Hong Kong, China March 27, 2018. REUTERS/Bobby Yip SHANGHAI (Reuters) – China Southern Airlines (600029.SS) will carry out an equity diversification plan that will involve the injection of 30 billion yuan ($4.36 billion) of capital from three investors, the Read More

Fed’s Bullard sees cryptocurrencies shifting U.S. financial system

3 days ago NAMEX Comments Off on Fed’s Bullard sees cryptocurrencies shifting U.S. financial system
FILE PHOTO: St. Louis Federal Reserve Bank President James Bullard speaks at a public lecture in Singapore October 8, 2018. REUTERS/Edgar Su/File Photo NEW YORK (Reuters) – Cryptocurrencies are changing the U.S. currency system in ways that may facilitate illegal activity and instability in prices, St. Louis Federal Reserve President James Bullard said on Friday. Read More

GRAPHIC-Take Five: Preparing for a prime minister, PMIs and policymakers

3 days ago NAMEX Comments Off on GRAPHIC-Take Five: Preparing for a prime minister, PMIs and policymakers
LONDON (Reuters) – 1/ROAD TO NO. 10 FILE PHOTO: A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. REUTERS/Toby Melville/File Photo Investors will wake on July 24 to a new British prime minister. Boris Johnson, the face of the Leave Read More

Analysis: Indonesia’s gasoline output ambition set to drive Australian condensate price recovery

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Singapore — Indonesia’s latest push to improve its self-sufficiency in auto fuels could help propel a recovery in Australian ultra-light crude differentials, with the Southeast Asian nation requiring ample supply of Oceania condensate to raise its gasoline output in an ongoing effort to trim its oil products import bill. Not registered? Receive daily email alerts, Read More

Sanctions-hit Iran becoming ‘heaven’ for bitcoin mining, says govt official

3 days ago NAMEX Comments Off on Sanctions-hit Iran becoming ‘heaven’ for bitcoin mining, says govt official
An increasing number of Iranians have started turning to cryptocurrencies, in particular bitcoin, with the devaluation of the national currency prompted by US economic sanctions. The crypto craze has raised concerns from authorities that the energy-hungry process of “mining” bitcoin is abusing Iran’s system of subsidized electricity. Currently at half-a-cent per kilowatt, the subsidized electricity Read More

Britain’s SSP says hit by Boeing 737 MAX grounding

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(Reuters) – British travel-food company SSP Group Plc (SSPG.L) reported higher quarterly revenue on Friday but said some of its airports in North America were hit by the grounding of Boeing (BA.N) 737 MAX aircraft and the transfer of passengers away from its terminals. The company also said its like-for-like sales growth in the rest Read More

Jim Hanson: US downing of Iranian drone is a warning to stop aggression and support for terrorism

3 days ago NAMEX Comments Off on Jim Hanson: US downing of Iranian drone is a warning to stop aggression and support for terrorism
When a U.S. Navy ship downed an Iranian drone in the Strait of Hormuz Thursday it sent an important message to the mullahs who rule the Islamic Republic: aggression has consequences and America will strike back when provoked. During the Obama administration, Iran’s leaders figured out that President Barack Obama was desperate to secure his Read More

Asia stocks gain, dollar sags as Fed reinforces rate cut expectations

3 days ago NAMEX Comments Off on Asia stocks gain, dollar sags as Fed reinforces rate cut expectations
TOKYO (Reuters) – Asian stocks gained and the dollar sagged on Friday after a top Federal Reserve official all but cemented expectations of a U.S. interest rate cut later this month. FILE PHOTO: A man in a bicycle stops in front of an electronic board showing the Nikkei stock index outside a brokerage in Tokyo, Read More

G7 urges tough Libra regulation, agrees to tax digital giants

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CHANTILLY, France (Reuters) – Digital currencies such as Facebook’s planned Libra raise serious concerns and must be regulated as tightly as possible to ensure they do not upset the world’s financial system, Group of Seven finance ministers and central bankers said on Thursday. Finance Minister Bruno Le Maire of France, which holds the rotating presidency Read More