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Stuff that matters

Chinese EV maker Nio posts bigger quarterly loss, sees higher deliveries

Chinese electric automaker Nio Inc (9866.HK), on Thursday reported a bigger quarterly loss due to a jump in costs, and said it expects deliveries to almost double in the current

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Canada’s BMO books $834 mln charge over U.S. Ponzi lawsuit loss

Canada’s Bank of Montreal (BMO) (BMO.TO) booked a charge of C$1.12 billion ($834.2 million) on Tuesday after a U.S. jury found its local unit liable for over $550 million in

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King dollar commands surge in remittances

Seafarer Jhan Kharl Rodica recently returned home to Manila after an eight-month voyage and bought a townhouse outside the city, courtesy in part, he said, of the U.S. dollar’s best

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Russia will not postpone Otkrytie sale, central bank says

Russia does not intend to postpone the sale of bailed-out lender Otkritie to Russia’s second biggest bank VTB (VTBR.MM), central bank governor Elvira Nabiullina said on Thursday. She said that

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Meta cuts 11,000 jobs as it sinks more money into the metaverse

Meta Platforms Inc (META.O) said on Wednesday it would cut more than 11,000 jobs, or 13% of its workforce, as the Facebook parent doubled down on its risky metaverse bet

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ECB to lend out more of its bonds to ease market squeeze

The European Central Bank has raised the amount of bonds it can lend against cash to 250 billion euros to ease a market squeeze that tends to get worse towards

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Germany’s parcel industry expects fewer deliveries this Christmas

Germany’s parcel industry is expecting to deliver fewer packages to consumers during this year’s Christmas season than the year before as inflation and rising energy costs push down demand, said

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