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Greek stocks find love as turnaround efforts pay off

By Johann M Cherian (Reuters) – Greek stocks are fast becoming a popular option for investors, with some expecting an upgrade to coveted developed-market status next year, as the economy outpaces its euro zone peers and bank stocks roar ahead.  The Athens General Stocks Index has risen 13.1% so far in 2024, building on a near 40% jump last year, and outperforming the Europe-wide STOXX 600’s 7.7% gain this year. Asset manager Amundi’s Greek equities … Read more…

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Gaza ceasefire talks gain momentum as officials push for deal

By Erin Banco and Nidal al-Mughrabi WASHINGTON/CAIRO (Reuters) -An agreement to halt the 14-month-old war in Gaza and free hostages held in the Palestinian enclave could be signed in the coming days with talks in Cairo making progress, sources briefed on the meeting said on Tuesday. The U.S. administration, joined by mediators from Egypt and Qatar, has made intensive efforts in recent days to advance the talks before President Joe Biden leaves office next month. … Read more…

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Eli Lilly’s Alzheimer’s treatment approved in China

(This Dec. 17 story has been corrected to say that the EU regulator reversed its July decision in November to recommend approval for Biogen’s drug, Leqembi, in paragraph 8) (Reuters) – China’s medical regulator has approved Eli Lilly’s treatment for early Alzheimer’s, providing patients with another option after Eisai and Biogen’s Leqembi received approval in January, the company said late on Tuesday. China is the fourth major market in which the treatment, sold under the … Read more…

Putin-tattooed former Royal Ballet star says he’s leaving Russia due to issues over his ‘soul’

MOSCOW (Reuters) – Sergei Polunin, a former star at London’s Royal Ballet, said on Wednesday that he had decided to leave Russia with his family, complaining that his “soul” did not feel like it was in its right place. Ukrainian-born Polunin, 35, has had a sometimes tempestuous but garlanded career so far. He became the Royal Ballet’s youngest ever principal at the age of 20 before abruptly leaving two years later, has received numerous international … Read more…

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Brooge Energy investors file fraud complaint against Ernst & Young

By Anna Hirtenstein (Reuters) -Some shareholders in Brooge Energy have filed a fraud complaint in the United States against Ernst & Young, alleging the auditor failed to identify fabricated revenues in two years of the oil storage firm’s annual reports. The plaintiffs are Stephen Cannon, Bryant Edwards and Neil Richardson, who were investors in a so-called special purpose acquisition company (SPAC) that bought Brooge in 2019, according to the filing with the United States District … Read more…

Ford to change its quality leader as it chases lower warranty costs

By Nora Eckert DETROIT (Reuters) -Ford Motor is appointing a new head of quality, the company confirmed on Wednesday, as the automaker works to reverse its industry-topping record of recalls and reduce warranty costs.  The automaker will move control of its quality team from Jim Baumbick to a new leader who has not yet been announced, as Baumbick takes on the responsibility of EV programs.   Baumbick, who has led quality since late 2022, will oversee … Read more…

Trump advisers urge ending environmental reviews for mines receiving US funds

By Jarrett Renshaw and Ernest Scheyder (Reuters) – Advisers to incoming U.S. President Donald Trump are recommending he waive environmental reviews for federally funded critical minerals projects to boost domestic production of materials used in electric vehicles, electronics and weapons, according to a document seen by Reuters. Implementation would reflect a major shift in how Washington reviews proposed mines on federal lands and aims to ensure that projects receiving loans, grants or other government support … Read more…

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Argentina economic activity seen sliding in October year-on-year

By Hernan Nessi BUENOS AIRES (Reuters) – Economic activity in Argentina likely fell in October versus the same month a year earlier, a Reuters poll of market analysts showed on Wednesday, although they also forecast the possibility of month-on-month growth. The median forecast from 12 analysts sees economic activity shrinking 2.5% year-on-year in October, the fifth consecutive month of year-on-year contraction. Estimates ranged from a forecast for a 4.4% contraction to 0.7% growth. Despite the … Read more…

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Macro a must-have for hedge fund investors betting on 2025 market swings

By Nell Mackenzie, Carolina Mandl and Summer Zhen LONDON (Reuters) – Next year’s top pick for hedge fund strategies is so-called macro, with U.S. President-elect Donald Trump centre-stage as investors bet on how global policy decisions will impact economic conditions and play out in financial markets. Hedge fund returns benefited this year from wild market swings sparked by politics such as November’s U.S. election, and twists in monetary policy such as Bank of Japan rate … Read more…

Sweden’s north frets over financial risks as green boom stumbles

By Simon Johnson LULEA, Sweden (Reuters) – Sweden’s local authorities, rattled by battery-maker Northvolt’s fight for survival and the potential fallout for taxpayers, are seeking increased financial support from the central government for the country’s transition to green industry. Europe’s electric vehicle battery champion filed for U.S. Chapter 11 bankruptcy protection last month with debts of $5.8 billion as the EU’s energy transition falters, sending shockwaves through Skelleftea in northern Sweden, home to its Northvolt … Read more…

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