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Exclusive: Ping An-backed Lufax to ditch P2P lending on regulatory woes – sources

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BEIJING/SHANGHAI (Reuters) – Lufax, one of China’s largest online wealth management platforms that is backed by financial giant Ping An Insurance (601318.SS), plans to exit its once-core peer-to-peer lending (P2P) business, three sources with direct knowledge of the matter told Reuters. FILE PHOTO: A sign of wealth management platform Lufax is seen during an expo Read More

EDF Renewables and Masdar places 415 MW order in Saudi Arabia

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News release fromVestas MediterraneanMadrid, 16 July 2019 A consortium formed by EDF Renewables and Masdar has placed a 415 MW order for the Dumat Al Jandal wind park in the Al Jouf region of Saudi Arabia. The project will be the country’s first utility-scale wind park, showcasing the increasing competitiveness of wind energy globally. The Read More

AB InBev pulls Budweiser listing, canceling year’s largest IPO

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HONG KONG/NEW YORK/BRUSSELS (Reuters) – Anheuser-Busch InBev (ABI.BR) said on Friday it will not proceed with the planned listing in Hong Kong of its Asia Pacific unit, Budweiser Brewing Company APAC Ltd (1876.HK), in what would have been the world’s biggest initial public offering (IPO) of 2019. AB InBev, the world’s largest brewer, was aiming Read More

AB InBev Asia cancels world’s largest IPO of 2019

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HONG KONG/NEW YORK (Reuters) – Anheuser-Busch InBev (ABI.BR) said on Friday it will not proceed with the initial public offering of its Asia Pacific unit, Budweiser Brewing Company APAC Ltd (1876.HK), on the Hong Kong Stock Exchange. The company said the decision was due to “several factors, including the prevailing market conditions.” It had been Read More

AB InBev Asia delays pricing world’s largest IPO of 2019: sources

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HONG KONG/NEW YORK (Reuters) – Budweiser Brewing Company APAC (1876.HK), the Asia-Pacific business of Anheuser-Busch InBev (AB InBev) (ABI.BR), has delayed pricing its Hong Kong IPO in what was set to be world’s biggest listing of 2019, two people with knowledge of the matter said. The setback, against the backdrop of a protracted U.S.-China trade Read More

Investors pour $28 billion in money-market funds as S&P 500 hit record high: Lipper

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(Reuters) – U.S.-based money-market funds attracted about $28 billion in the week ended Wednesday, their largest weekly inflow since mid-May, as the S&P 500 Index rose above 3,000 for the first time on Wednesday. It was money funds’ third consecutive week of cash inflows, with a four-week moving average of $18.8 billion, according to data Read More

Covia Announces Sale of Its Calera, Alabama Lime Facility for $135 Million  

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INDEPENDENCE, Ohio, July 08, 2019 (GLOBE NEWSWIRE) — Covia (NYSE:CVIA), a leading provider of mineral-based and material solutions for the Industrial and Energy markets, announced today that it has executed a definitive agreement to sell its Calera, Alabama lime processing facility (“Calera”) to Mississippi Lime Company for total proceeds of $135.0 million in cash, subject Read More

Factbox: Deutsche Bank staff react to 18,000 global job cuts

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HONG KONG (Reuters) – Whole teams at Deutsche Bank were told on Monday their jobs had been axed as it began 18,000 job cuts globally in one of the biggest overhauls to an investment bank since the aftermath of the financial crisis. People walk past a Deutsche Bank office in London, Britain July 8, 2019. Read More

Factbox: What Deutsche bankers are saying about the 18,000 global job cuts

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HONG KONG (Reuters) – Whole teams within Deutsche Bank AG (DBKGn.DE) have been told their positions were gone on Monday, as the lender began axing 18,000 jobs globally in one of the biggest overhauls to an investment bank since the aftermath of the financial crisis. People walk past a Deutsche Bank office in London, Britain Read More

After Deutsche Bank cuts, where will the growth be?

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LONDON/FRANKFURT (Reuters) – For Deutsche Bank chief executive Christian Sewing, shrinking the group’s investment bank will be the relatively easy – if expensive – part of his restructuring plan. FILE PHOTO: The Deutsche Bank headquarters are seen in Frankfurt, Germany October 29, 2015. REUTERS/Kai Pfaffenbach/File Photo Finding steady revenue streams to produce the 7.4 billion Read More