• Who is Sandeep Bakhshi, the new ICICI Bank COO
Who is Sandeep Bakhshi, the new ICICI Bank COO

Bakhshi will be responsible for handling all the businesses and corporate centre functions at the bank", the lender said. The bank on May 30 announced that its Board has chose to institute a "comprehensive enquiry" to look into an anonymous whistleblower's complaint alleging that Kochhar had not adhered to provisions relating to "code of conduc...

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  • Germany: Interior minister gives Merkel ultimatum on migrants
Germany: Interior minister gives Merkel ultimatum on migrants

But the rest of the European Union is now engaged in an unseemly squabble over refugees as the new anti-immigrant Italian government has drawn the ire of Prime Minister Macron of France by refusing docking rights to a refugee ship. Her government toughened asylum rules and declared several countries "safe", meaning people from there can't expect to...

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  • Trump threatens 10% tariff on $200bn of Chinese goods
Trump threatens 10% tariff on $200bn of Chinese goods

Trump on Friday announced hefty tariffs on $50 billion of Chinese imports, laying out a list of more than 800 strategically important imports from China that would be subject to a 25 per cent tariff starting on July 6, including cars. The tariffs were quickly matched by China on USA exports, a move that drew the president's ire. The US announced ...

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  • Trump escalates China trade spat with extra tariffs threat
Trump escalates China trade spat with extra tariffs threat

President Trump said the new tariffs will go into effect unless China ends its malicious trade practices. "The trade relationship between the United States and China must be much more equitable", Trump said. Responding to the news, the Chinese commerce ministry said Beijing will retaliate by imposing similar penalties on American goods, if Wa...

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  • UK's Clydesdale Yorkshire Banking Group buys Virgin Money for 1.7 billion pounds
UK's Clydesdale Yorkshire Banking Group buys Virgin Money for 1.7 billion pounds

The bank is perhaps best known for its purchase of failed United Kingdom lender Northern Rock - which collapsed during the global financial crisis. CYBG has reached a takeover deal with Virgin Money that values the bank at £1.7 billion but is likely to lead to more than 1,500 job losses.

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  • Google invests $550m in Chinese e-commerce giant JD.com
Google invests $550m in Chinese e-commerce giant JD.com

The latest involves a strategic partnership with JD.com - China's second largest e-commerce company - to the tune of $550 million. This move is expected to help JD.com to expand beyond its base in China and Southeast Asia in order to establish a meaningful presence in USA and European markets.

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  • Audi CEO Rupert Stadler detained in diesel emissions case, reports say
Audi CEO Rupert Stadler detained in diesel emissions case, reports say

Confirming the development, a spokesperson said: "We confirm that Mr Stadler was arrested this morning". Luxury carmaker BMW and Mercedes-owned Daimler have both had their offices raided by investigators searching for evidence of possible cheating.

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  • Audi chief exec Rupert Stadler arrested
Audi chief exec Rupert Stadler arrested

Audi, who has been caught up in the emissions scandal that afflicted Volkswagen , had no immediate comment. Munich prosecutors searched Stadler's private residence last week in their investigation of suspected fraud and indirect improprieties with documents.

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  • Unauthorized genetically modified wheat found growing in Alberta
Unauthorized genetically modified wheat found growing in Alberta

Speaking at a news conference Friday afternoon, Deron Bilous, Minister of Trade and Economic Development, said the government is communicating with Japan to provide assurance that Canadian wheat is safe for the market. "My hope is that it would be short-lived based on, first of all, Canada's reputation as a high-quality producer of wheat and food, ...

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  • Tesco steps up challenge to rivals with new price cuts
Tesco steps up challenge to rivals with new price cuts

Similarly, Booker, which Tesco bought for £3.7bn past year, had a rise of 1.4% in sales during the quarter. Lewis said food price inflation had dropped to 1.8%-2.4% from more than 3% late previous year. Tesco now dominates Britain's supermarket sector by a clear margin, with a 27.7 percent market share. Lewis would not comment on the proposed m...

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  • McDonald's to switch to paper straws in U.K., Ireland
McDonald's to switch to paper straws in U.K., Ireland

The company added that the will begin its transition to just paper straws at all its locations in both the United Kingdom and Ireland during September. Plastic straws are generally used only once, making them a prime target for environmentalists who point to the enormous amount of plastic that ends up in the world's oceans - the equivalent, accordi...

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  • McDonald's to ditch plastic straws in UK, Ireland
McDonald's to ditch plastic straws in UK, Ireland

Every day, McDonald's is estimated to dispense millions of plastic straws, many of which are discarded and do not easily biodegrade. McDonald's Corp. McDonald's said its decision followed a successful trial in selected restaurants earlier this year. Environment Secretary Michael Gove said the initiative was "simple but effective" and is a "...

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  • Zenith and Saatchi & Saatchi Melbourne Win Global Ride-Sharing Company DiDi
Zenith and Saatchi & Saatchi Melbourne Win Global Ride-Sharing Company DiDi

This would make Australia their first western foray and would once again put them in direct competition with Uber , although admittedly Uber has been established within Australia for quite a while, so it is unclear as to whether or not Didi Chuxing will be able to unseat them once again.

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  • European Central Bank to end bond buying
European Central Bank to end bond buying

USA stocks ticked higher Thursday after Europe's central bank became the latest to spell out how it will close the spigot on the emergency stimulus it's flooded the market with in recent years. and Latin American trading hours than any previous tournament. Helping boost United States equities was a Commerce Department report showing retail sales ...

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  • BHP approves $2.9 billion spend on iron ore project
BHP approves $2.9 billion spend on iron ore project

The dual-listed mining giant said the Western Australian project will fully replace production from its 80 million tonnes per year Yandi mine , which is reaching the end of its economic life. The mine would allow Fortescue, which usually produces lower-grade iron ore, to "underpin the introduction of a (higher-grade) 60% product in the second-half...

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  • China retaliates immediately after USA announces tariffs
China retaliates immediately after USA announces tariffs

The Chinese haven't issued a list but have stated it would be an identical 25% on $50 billion of American exports. World oil markets cratered on fears of increased supply, with U.S. If tariffs are placed on those products, they would likely affect farmers and rural supporters of president Trump. Trade between the two countries "has been ver...

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  • Manchester's N Brown is to consult on closing 20 High Street stores
Manchester's N Brown is to consult on closing 20 High Street stores

Its 20 stores generated £15m of revenue (2% of Group revenue) and a loss of £3m. She said this review would be complete by the time the company reported its half year results in October, and it would do all it could to support staff affected.

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  • State News, Washington unemployment rate at 4.7 percent
State News, Washington unemployment rate at 4.7 percent

Most economists were expecting an increase of 19,000 jobs and an unemployment rate in line with April's 5.6 per cent. According to numbers released Wednesday by the Employment Security Department, the unemployment rate for May dropped to 4.7 percent from April's 4.8 percent.

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  • British engine maker Rolls-Royce cutting 4600 jobs
British engine maker Rolls-Royce cutting 4600 jobs

Since 2010, it's invested over £11 billion in cutting-edge research and development, world-class factories and modern facilities. Its civil aerospace business is engaged in the development, manufacture, marketing and sales of commercial aero engines and aftermarket services.

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  • Trump eyes oil prices: ‘OPEC is at it again’
Trump eyes oil prices: ‘OPEC is at it again’

Monday's talks between Sanjiv Singh, head of IndianOil, India's largest refiner and fuel retailer, and top executives of Chinese oil companies also looked at investing - either jointly or separately - in expanding USA oil and gas export infrastructure to raise shipments to Asia as a counterbalance to OPEC , sources said .

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