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Exclusive: Deutsche Bank’s problem derivatives cloud recovery – sources

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NEW YORK (Reuters) – Deutsche Bank AG’s (DBKGn.DE) turnaround strategy rests in large part on shedding 288 billion euros of unwanted assets. Three bank insiders said it will take years, tying up capital that could have generated income of 500 million euros ($557 million) a year. People walk past a Deutsche Bank office in London, Read More

‘Butcher of Beijing’ who ordered Tiananmen Square crackdown dies

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The Chinese premier who ordered a bloody crackdown in Tiananmen Square to counter pro-democracy protests has died. Li Peng died at the age of 90 on Monday of an unspecified illness. While he leaves behind a legacy of long-term economic growth, he is best known for his role in the demonstrations that spawned the enduring Read More

Lockheed to move F-35 jet parts sourcing to U.S. from Turkey

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(Reuters) – Lockheed Martin Corp (LMT.N) said on Tuesday it was working to establish alternate supply sources for F-35 parts in the United States after the Pentagon decided last week to remove Turkey from the fighter jet program. FILE PHOTO: The logo of Lockheed Martin is seen at Euronaval, the world naval defence exhibition in Read More

Pounding rains, flash floods drench northeastern United States

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(Reuters) – Severe wind and rain in the northeastern United States left thousands without power on Tuesday, as a record-breaking heat wave ebbed and a flash flood threat moved south with the storm. A man peers from a Lower East Side apartment window as a heatwave continued to affect the region in Manhattan, New York Read More

UFO panic Down Under as Australians mistake India’s Moon mission for alien invasion

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Hundreds of Australians wondered if they were witnessing the arrival of alien invaders, after mysterious lights were spotted in the sky over Queensland and the Northern Territories on Monday. Shauna Royes spotted a ‘strange light’ over the Julia Creek caravan park in north-west Queensland when she was at a dinner with about 160 other people. Read More

More than 60 killed, hundreds of thousands displaced by flooding in Bangladesh

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DHAKA (Reuters) – Severe flooding has killed at least 61 people, displaced nearly 800,000 and inundated thousands of homes across a third of Bangladesh, government officials said on Tuesday, after two weeks of heavy monsoon rains. People cross a flooded road in Jamalpur, Bangladesh, July 22, 2019. REUTERS/Mohammad Ponir Hossain Nearly 3 million people are Read More

WATCH Indian devotees parade snakes as part of Hindu ritual

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A trip to India in the monsoon season may catch you off guard with… snakes! Hundreds of them are paraded through nearly every Indian town when Hindu worshippers flock together to celebrate Nag Panchami – the serpent festival. Observed in either July or August, the ancient holiday mainly involves scores of snakes being festively carried Read More

US sanctions Chinese company, big buyer of Iranian oil 

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The US has imposed sanctions against a Chinese company that is the biggest buyer of Iranian oil in the world, amid an escalating trade war between Washington and Beijing and US threats against Tehran. US Secretary of State Mike Pompeo announced on Monday that Washington will be imposing punitive measures against Zhuhai Zhenrong Ltd. Along Read More

At least 37 killed in airstrikes in rebel-held Syrian town

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By Tania Snuggs, news reporter At least 37 people have been killed in airstrikes on a busy market in a rebel-held town in northwestern Syria, according to opposition activists and a war monitor. More than 100 others were injured in the attacks in Maaret al-Numan in southern Idlib province, which caused widespread destruction and buried Read More

‘This is slander’: China says US criticism over South China Sea prevents resolution of disputes

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Recent American criticisms of Chinese conduct in the South China Sea amount to “slander,” the country’s foreign ministry has said, insisting US interference only complicates the dispute over the highly-trafficked sealane. The contested waters have long been a source of conflict for Beijing and its neighbors, particularly over rights to drill for the area’s rich Read More