Reuters

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The latest economic news and figures from Reuters.com

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http://www.reuters.com/

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Economy

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58.3 items/day

Billionaire Patrick Drahi snaps up Sotheby's in $3.7 billion deal

18:51
Patrick Drahi, the billionaire behind telecoms and media group Altice, agreed on Monday to buy Sotheby's in a deal worth $3.7 billion, marking the storied art auction house's return to private ownership after 31 years.

Fed likely to resist pressure to cut U.S. rates this week

18:51
The U.S. Federal Reserve, facing fresh demands by President Donald Trump to cut interest rates, is expected to leave borrowing costs unchanged at a policy meeting this week but possibly lay the groundwork for a rate cut later this year.

Fashion house Chanel parades its independence as profits rise

18:51
Luxury fashion group Chanel, whose star designer Karl Lagerfeld passed away in February, on Monday reaffirmed commitment to its independence after reporting higher annual sales and profits.

KPMG fined $50 million for using stolen data, exam fraud: U.S. SEC

18:51
KPMG LLP has agreed to pay a $50 million fine over allegations former staffers used stolen information to alter some of the accounting firm's previous audit work and cheated on training exams, the U.S. Securities and Exchange Commission said on Monday.

Wall St. moves higher; Fed policy meeting eyed

18:51
Wall Street's main indexes climbed higher on Monday, with the tech-heavy Nasdaq leading the pack, as investors awaited a crucial Federal Reserve meeting that is expected to lay the groundwork for an interest rate cut later this year.

Deutsche Bank to set up 50 billion euro bad bank in revamp

18:51
Deutsche Bank is planning to overhaul its trading operations by creating a so-called bad bank to hold tens of billions of euros of non-core assets, a source close to the matter said on Monday.

Oil prices slip as economic worries outweigh tanker tensions

18:51
Oil prices edged lower on Monday after more poor Chinese economic figures fanned fears of slowed worldwide oil demand.

Airbus faces cabin comfort dilemma as it launches A321XLR jet

18:09
Airbus has broken records by launching the longest-range narrow-body jetliner at the Paris Airshow, but planemakers are having to rethink their mantra on comfort as they squeeze ever more miles out of jets designed for shorter trips.

Virgin Atlantic orders 14 Airbus A330neos, with further six options

18:09
Europe's Airbus has agreed to sell 14 A330neo wide-body passenger jets to Virgin Atlantic in a deal valued at $4.1 billion, the companies announced at the Paris Airshow on Monday, with an option for the airline to order six more.

Global stocks, yields steady with focus on Fed, central banks

17:26
A gauge of global stock markets edged higher on Monday to build on monthly gains and benchmark government bond yields hovered near multi-year lows as investors girded for developments later in the week from central banks in the United States and elsewhere.

Drahi says to keep focus on TMT businesses after Sotheby's deal

17:26
Billionaire Patrick Drahi said on Monday he would remain focused on his main telecoms and media businesses and would not sell any shares in his Altice Europe NV business to fund his acquisition of Sotheby's auction house.

Factbox: Airbus and Boeing aircraft deals at Paris Airshow

17:26
Following is a summary of commercial aircraft deals announced by Airbus and Boeing at the Paris Airshow.

Canada backs startup to boost data on space debris

17:26
The Canadian government's contracting arm is backing a proposed new satellite system that will use big data analytics to provide commercially available data about the Earth and its orbit amid growing concerns about the risks posed by space debris.

Boeing says will take time to win back confidence

17:26
The head of Boeing said on Sunday the U.S. planemaker had made a mistake in implementing a faulty cockpit warning system on the 737 MAX and predicted it would take time to rebuild the confidence of customers in the wake of two fatal crashes.

UK hopes Trump and Xi can ease trade tensions at G20 summit: Hammond

16:44
Britain hopes that U.S. President Donald Trump and Chinese President Xi Jinping can make progress on easing trade tensions when they meet later this month at a summit of world leaders in Japan, British finance minister Philip Hammond said.
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