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IBM invests in UK data centers as tech sector defies Brexit worries

Global IT group IBM will triple the number of its cloud data centers in Britain, it said on Tuesday, joining Facebook and Google in investing in the UK after its vote to leave the European Union. IBM said it would build four new data centers to …

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IBM invests in UK data centers as tech sector defies Brexit worries

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Oil prices rise in anticipation of planned OPEC-led production cut

Oil prices rose to their highest level since October on Tuesday as the market priced in a potential output cut led by producer cartel OPEC, although analysts warned that a failure to agree a cut could lead to a ballooning supply overhang by early 2017. U.S. West Texas Intermediate (WTI) crude futures were up 44 cents, or 0.9 percent, at $48.68 a barrel. The Organization of the Petroleum Exporting Countries (OPEC) is trying by Nov. 30 to bring its 14 member states and non-OPEC producer Russia to agree …

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Oil prices rise in anticipation of planned OPEC-led production cut

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Citi and JPMorgan top list of globally systemic banks

By Huw Jones LONDON (Reuters) – Citi has joined JPMorgan at the top of global regulators' list of systemically important banks, replacing HSBC and meaning the U.S. bank will have to hold extra capital from 2019 to help preserve financial stability. The group of 20 economies (G20) agreed after the 2007-09 financial crisis that top banks, whose size and complexity mean a collapse could wreak havoc in markets, should hold extra capital, according to the level of risk they present. In the annual update of rankings published on Monday by the…

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Citi and JPMorgan top list of globally systemic banks

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NYSE-owner ICE to buy commodities trading platform for $650 million

(Reuters) – Intercontinental Exchange Inc , the owner of the New York Stock Exchange, said it would buy commodities trading platform Trayport from BGC Partners Inc and GFI Group Inc for about $650 million in stock.

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NYSE-owner ICE to buy commodities trading platform for $650 million

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VW says CO2 cheats affect more petrol engines than previously disclosed

Volkswagen manipulated the carbon dioxide (CO2) emission levels of more petrol-powered vehicles than previously disclosed, a spokesman for the carmaker said on Monday. VW said on Nov. 3 it had understated the level of CO2 emissions in about 800,000 cars sold mainly in Europe, and consequently their fuel usage. It said then the cheating affected predominantly 1.2 and 1.4 liter diesel engines and one petrol engine, the 1.4 liter motor

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VW says CO2 cheats affect more petrol engines than previously disclosed