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World Bank announces $200 billion for Climate Action


The World Bank Group today announced a major new set of climate targets for 2021-2025, doubling its current 5-year investments to around $200 billion in support for countries to take ambitious climate action. The new plan significantly boosts support for adaptation and resilience, recognizing mounting climate change impacts on lives and livelihoods, especially in the world’s poorest countries. The plan ...

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Kweku Adoboli, ex-UBS trader deported to Ghana

Former-UBS trader Kweku Adoboli

Kweku Adoboli, the former UBS trader convicted of fraud, has been deported to Ghana, despite a long campaign to keep him in Britain. His lawyer confirmed he was flown out of Heathrow Airport in the evening of November 14th, 2018 after being detained in Scotland on Monday. Adoboli, aged 38 and who has lived in the UK for 26 years, ...

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UK economy grows at fastest rate since late 2016


The UK economy grew by 0.6% in the three months to September, with warm weather boosting consumer spending, the Office for National Statistics said. The figure for the third quarter is in line with predictions from the Bank of England and other forecasters. However, buoyant growth in July was offset by a slowdown in August and September. It is the highest ...

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Wal-Mart triples online items, lowers prices as holiday season kicks in


Wal-Mart Stores Inc is planning to boost sales and fend off rivals this holiday season by doubling down on incentives for shoppers who buy online and those who visit its stores. The world’s largest retailer said it tripled its online selections for the holiday season to 60 million items, and that it would provide free two-day shipping on more than ...

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Spanish tensions bar Europe from global stocks party


Global stock markets hit a record high on Wednesday with investors in exuberant mood in the United States overnight and in Asia later, but sentiment in Europe was soured by a political crisis gathering steam in Spain. Tensions between Madrid and Catalonia have risen since the wealthy region held an independence referendum on Sunday that was tarnished by police violence. ...

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EU takes Ireland to court for not claiming Apple tax windfall


The European Commission said on Wednesday it was taking Ireland to the European Court of Justice for its failure to recover up to 13 billion euros ($15.3 billion) of tax due from Apple Inc (AAPL.O), a move labeled as “regrettable” by Dublin. The Commission ordered the U.S. tech giant in August 2016 to pay the unpaid taxes as it ruled ...

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Oil slides from nine-week highs as market looks to OPEC


Oil prices edged lower on Monday, sliding away from nine-week highs, as worries lingered over high production from OPEC and the United States. Global benchmark Brent crude futures LCOc1 were down 65 cents, or 1.24 percent, at $51.77 a barrel at 0926 GMT. U.S. crude futures CLc1 were down 59 cents, or 1.19 percent, at $48.99 per barrel. Both contracts ...

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Brexit: UK will not cut taxes, says Philip Hammond


The UK will not cut tax and regulations after Brexit in a bid to undercut EU rivals, Philip Hammond has suggested. The chancellor told French newspaper Le Monde that tax raised as a percentage of the British economy “puts us right in the middle” of European countries. “We don’t want that to change, even after we’ve left the EU,” he ...

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Eurozone unemployment rate falls to 9.1%


The unemployment rate in the eurozone has fallen to its lowest since February 2009, according to the latest official figures. The rate dropped to 9.1% last month, from a downwardly revised 9.2% in May. Separately, inflation remained unchanged in July at 1.3%, according to a preliminary estimate from Eurostat, the European Union’s statistics office. However, core inflation, which excludes food, ...

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Snapchat’s moment of truth is here


Snapchat has seen much of its market value disappear since going public in March. Now the situation could go from bad to worse. Snap(SNAP), the parent company of Snapchat, fell as much as 5% in early trading Monday to a new low as some company insiders finally get the chance to cash out. The stock later rebounded and was flat ...

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