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Oil prices fall on high production despite planned OPEC output cut

Oil prices fell away from $50 per barrel on Monday despite an agreement last week by exporters to cut output, with traders doubting the step was enough to rein in production that has exceeded consumption for the better part of three years. Brent crude futures were trading down 25 cents, or 0.5 percent, at $49.94 per barrel at 0205 GMT. U.S. West Texas Intermediate (WTI) futures were down 26 cents, or 0.5 percent, at $47.98 a barrel.

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Oil prices fall on high production despite planned OPEC output cut

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Senior Italian bankers to meet Monday over sale of four banks: sources

Italy's economy minister has called a meeting with some of the country's top bankers on Monday to discuss stalled efforts to sell four small banks that were rescued from bankruptcy last year, sources said. Bank of Italy Governor Ignazio Visco was expected to join the gathering, which comes just days after sources said the European Union had agreed to extend…

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Senior Italian bankers to meet Monday over sale of four banks: sources

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Germany’s Merkel cannot afford to bail out Deutsche Bank: media

By Georgina Prodhan FRANKFURT (Reuters) – German Chancellor Angela Merkel cannot afford to bail out Deutsche Bank given the hard line Berlin has taken against state aid in other European nations and the risk of a political backlash at home, German media wrote on Saturday. The government denied a newspaper report on Wednesday that it was working on a rescue plan for Germany's biggest bank, as …

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Germany’s Merkel cannot afford to bail out Deutsche Bank: media

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Exclusive: EU wants Google to stop anti-competitive Android practices, fine expected

By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators plan to order Alphabet's Google to stop paying financial incentives to smartphone makers to pre-install Google Search exclusively on their devices and warned the company of a large fine, an EU document showed. Google received a copy in April in which …

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Exclusive: EU wants Google to stop anti-competitive Android practices, fine expected

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‘Times are changing, pay your taxes’, euro zone chief tells corporations

By Francesco Guarascio and Jason Hovet BRATISLAVA (Reuters) – Multinational companies should refrain from tax-avoidance practices and pay their fair share, the head of euro zone finance ministers said on Saturday in a new endorsement of the European Union's fight against tax-dodging. In the wake…

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‘Times are changing, pay your taxes’, euro zone chief tells corporations

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British businesses ‘lazy and fat’, pro-Brexit trade minister says

Britain as a trading nation has become “too lazy and too fat” and business leaders are more interested in playing golf on Friday afternoons than in seeking new export markets, International Trade Secretary Liam Fox was recorded saying. Fox, who was a prominent campaigner for Britain to leave the European Union and says the country must forge new trading relationships with the rest of the world, was recorded making the comments during a drinks party with activists…

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British businesses ‘lazy and fat’, pro-Brexit trade minister says

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Germany’s economy minister: U.S.-EU free trade talks have failed

Germany's Economy Minister Sigmar Gabriel said on Sunday that talks on the Transatlantic Trade and Investment Partnership (TTIP), a free trade deal being negotiated by the United States and the European Union, had essentially failed. “Things are not moving on that front,” said Gabriel, who is also Germany's vice chancellor. The U.S.

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Germany’s economy minister: U.S.-EU free trade talks have failed

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UK opens corruption probe into Airbus jet sales

Britain's Serious Fraud Office has launched a formal investigation into suspected fraud, bribery and corruption in connection with commercial plane sales by Airbus, parent company Airbus Group said on Sunday. A UK government agency this year suspended the issue of export credits to Airbus, citing discrepancies in declarations by the plane maker on the use of third-party intermediaries during jet sale negotiations. The agency, UK Export Finance, had said it was referring the discrepancies to the SFO, which would decide whether to launch a criminal investigation.

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UK opens corruption probe into Airbus jet sales

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Growth snapshots ahead in world awash with cheap money

By Jonathan Cable LONDON (Reuters) – Bumper July jobs data from the United States have again begun to stoke expectations of a September rate hike from the Federal Reserve, just when other major central banks around the globe are unleashing ever-looser policy. New Zealand's central bank is also expected to join the easing brigade with a cut on Thursday. Slow growth and virtually non-existent euro zone inflation will also force the European Central Bank to extend and expand…

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Growth snapshots ahead in world awash with cheap money

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Fox News, Ailes in negotiations over his exit: source

Roger Ailes, who built Fox News into a profitable ratings powerhouse, and Twenty-First Century Fox Inc are in negotiations over his departure from the cable news channel following allegations of sexual harassment, a person briefed on the discussions said Tuesday. A Fox statement said a legal review into the accusations was ongoing and that Ailes was working. Ailes' attorney, Susan Estrich, told CNN that there was no deal yet and any announcement on an agreement would be made by Twenty-First Century

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Fox News, Ailes in negotiations over his exit: source

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