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The New York Stock Exchange has backtracked on plans to delist three Chinese state-run telecoms groups, reversing a decision that had threatened to further inflame tensions between Washington and Beijing. The exchange had begun proceedings to delist China Mobile, China Telecom and China Unicom to comply with a Trump administration executive order that bars US
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The stock market bulls who drove Tesla’s shares up eight-fold in 2020 were handed a new year present on Saturday, as the electric car maker reported record deliveries of new vehicles that comfortably beat Wall Street expectations. Tesla said it had delivered 180,570 vehicles during the fourth quarter, ahead of the 174,000 analysts had expected.
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Republicans in the Senate have broken overwhelmingly from Donald Trump, rebuffing the outgoing US president’s attempt to veto this year’s $740bn defence spending bill and adding to growing acrimony ahead of next week’s congressional meeting to confirm the outcome of the election. The motion to override Mr Trump’s presidential veto passed 81-13 with strong bipartisan
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US stocks finished 2020 with a gain of more than 16 per cent — well above the historical average — after a technology sector-led rally pulled Wall Street back from a brief bear market to set a record high in defiance of pandemic, recession and political upheaval. The Nasdaq Composite, dominated by tech giants such
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The UK drugs watchdog has approved the coronavirus vaccine made by Oxford university and AstraZeneca, boosting hopes that millions more Britons can be inoculated against the disease in the coming months as a new viral variant takes hold. AstraZeneca said on Wednesday the UK Medicines and Healthcare products Regulatory Agency had given the jab an
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“These are times when the strong can get stronger,” Nike chief executive John Donahoe said in September, as he celebrated the digital investments and robust brand that helped the sportswear group to increase its earnings even as Covid-19 closed its stores. Nike was far from the only household name boasting of resilient profits and a
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Investment banks across the world have generated a record $124.5bn in fees this year as companies raced to raise cash to outlast the pandemic. The windfall came as lenders earned all-time high fees underwriting debt and equity offerings for clients like aeroplane maker Boeing, property rental site Airbnb and telecoms group SoftBank, according to data
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The EU and China are close to reaching a long-awaited business investment deal as Brussels seeks to level the playing field for European companies operating in the Chinese market.  During a meeting with national ambassadors in Brussels on Monday, the European Commission reported progress on talks with Beijing, including on the core remaining issue of
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Donald Trump raised hopes of a breakthrough to release $900bn in coronavirus stimulus aid on Sunday night, after tweeting of “good news” in the stand-off. Millions of Americans lost unemployment benefits over the weekend after the president refused to sign the bipartisan congressional stimulus package approved just before Christmas. Mr Trump had said he would
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After nine months of tortuous and at-times fractious negotiations, the UK and the EU have reached agreement on an economic partnership agreement that will govern large swaths of bilateral trade worth more than £650bn. The deal covers technical aspects of trade for key sectors, including autos, chemicals, pharmaceutical and professional services as well as a
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Britain and the EU have sealed a Christmas trade deal, securing a new economic and security partnership that both sides hope will finally end years of Brexit acrimony. Prime Minister Boris Johnson and Ursula von der Leyen, European Commission president, agreed the deal after nine months of negotiations, culminating in Christmas Eve haggling over fishing
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Hopes were rising on Wednesday that a Brexit trade deal could be sealed within hours as intensive talks continued between EU and UK teams to secure an agreement before Christmas. British officials said that while the two sides were still arguing over fisheries and other issues — including competition rules for a “level playing field”
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