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French luxury stocks drop as Trump threatens heavy new tariffs

Matthew Lloyd | Getty Images Shares of French luxury goods makers, including LVMH and Hermes, dropped in European trading on Tuesday after President Donald Trump’s administration said it may place heavy tariffs on several goods. LVMH – which includes the brands Louis Vuitton and Hennessy – and Hermes each fell more …

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Bank of England holds interest rates ahead of snap election

Bank of England Justin Tallis | AFP | Getty Images The Bank of England (BOE) held interest rates steady on Thursday, opting not to adjust borrowing costs in the world’s fifth-largest economy ahead of a snap election. With 35 days to go before Britons head to the ballot box, the …

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Yuan surges past 7 per dollar for the first time since August

A Chinese clerk counts renminbi yuan banknotes at a bank in China on December 2015. Jie Zhao | Corbis News | Getty Images The Chinese yuan soared past 7 per U.S. dollar on Tuesday, climbing to a fresh three-month high as investors became increasingly hopeful about the chances of a …

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European defense spending to hit $300 billion by 2021, analysts say

Assembling a T-72B3 battle tank at the Uralvagonzavod factory, a Rostec subsidiary, developing and producing military hardware. Donat Sorokin | TASS | Getty Images European defense spending will surpass $300 billion a year by 2021, according to new research from Jane’s by IHS Markit. Defense expenditure is a highly sensitive …

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Spotify shares rise as much as 18% after turning a surprise profit

A trading post sports the Spotify logo on the floor of the New York Stock Exchange, Tuesday, April 3, 2018. Richard Drew | AP Spotify Technology delivered a surprise profit and its stock is reaping the benefits.  The music streaming company’s shares surged as much as 18% Monday after a …

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Airplane maker struggles to regain footing since first 737 Max crash

A line of Boeing 737 fuselages, eventually bound for Boeing’s production facility in nearby Renton, Wash., sit on flatcar rail cars at a rail yard Tuesday, April 9, 2019, in Seattle. Elaine Thompson | AP A year ago, Boeing executives were trying to convince Wall Street investors they could ramp …

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Renault board ousts Thierry Bollore as CEO, names Clotilde Delbos as interim chief

Thierry Bollore, chief competitive officer of Renault SA, speaks at the IAA Frankfurt Motor Show in Frankfurt, Germany, on Sept. 12, 2017.  Krisztian Bocsi | Bloomberg | Getty Images Renault has named Clotilde Delbos, the french automaker’s current chief financial officer, as its CEO for an interim period. Delbos will …

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Sterling slips on rumors of a snap UK election

Conservative Party leadership candidate Boris Johnson gestures as he talks during the launch of his campaign in London, Britain June 12, 2019. Henry Nicholls | Reuters Sterling fell against the dollar on Monday following dismal manufacturing data and speculation that U.K. Prime Minister Boris Johnson could be planning a general …

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Macri imposes currency controls as debt crisis deepens

A woman walks with an Argentinian flag during a march in support of President Mauricio Macri on August 24, 2019 in Buenos Aires, Argentina. Ricardo Ceppi | Getty Images News | Getty Images Argentina’s government has imposed currency controls in a bid to stabilize financial markets, as Latin America’s third-largest …

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Sterling rises as Germany’s Merkel comments on solution

German Chancellor Angela Merkel speaks at the 100-years anniversary celebration of prosthesis maker Ottobock SE in Duderstadt, Germany, February 18, 2019. Ralph Orlowski | Reuters Sterling hit a three-week high against the dollar Thursday after German Chancellor Angela Merkel said a solution to the Irish “backstop” is possible before the …

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