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Bank of Mexico Warns Wage Hikes Could Propel Inflation

  The Mexican peso started declining against its rivals despite claims by senior government officials that a deal with the US to quash import duties on steel and aluminum from Mexico is imminent. Investors and speculators are concerned about Mexico’s

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Walmart Posts Mixed Q1 Results, Despite Best Comp In 9yrs

  The retail chain, Walmart Inc. (NYSE: WMT) yesterday reported an 80% y-o-y increase in the fiscal 2019 first-quarter profit, mirroring steep rise in revenues and impressive performance of the company’s subsidiary JD.com. Excluding charges, adjusted earnings per share for

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Aussie Declines As Unemployment Rate Rises To 5.2%

  The Australian dollar came under selling pressure yesterday after the wage inflation missed economists’ estimates. Furthermore, the consumer sentiment index recorded soft growth, while the business conditions index declined. The US-China trade-related reports did not do the currency any

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Bradesco Bank Joins R3 Corda-Based Trade Finance Network

  The cryptocurrency market has turned absolutely bullish with not even a single major altcoin in red. Bitcoin (BTC) spearheads the rally with a 38.9% gain in the past seven days to trade at $8,285.57. While there is no apparent

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Teva Hit With Price-Fixing Lawsuit By 44 US States

  Teva Pharmaceutical Industries’ (TEVA) shares plunged this week after 44 US states filed a case against the company and an additional 19 generic pharmaceutical businesses over accusations of a substantial drug price-fixing scandal worth billions of dollars. The damage

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Pound Down As Cross-Party Brexit Talks Fail To Go Forward

  The pound continued to fall against its competitors yesterday after the UK’s Shadow Chancellor of the Exchequer, John McDonnell, stated that there are no significant changes so far in the cross-party Brexit talks. Soft job data also encouraged traders

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Nordea Offers Blockchain Trade Finance Platform to SMEs

  The cryptocurrency market continues with the bull run as Bitcoin (BTC) tears past $7,800 levels. In the past week, the cryptocurrency, touted as an asset of value, has gained a whopping 38.1%. More interestingly, Bitcoin (BTC) has gained almost

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US Dollar Weakens As China Announces Retaliatory Tariffs

  The US dollar declined against its major rivals on Friday after President Donald Trump increased tariffs on about $200 billion worth of Chinese goods to 25% from 10%. Yesterday, the downward trend continued on hopes of a Fed rate

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Uber Closes Below IPO Price On First Day Of Listing

  Uber’s much-awaited stock market ride didn’t begin smoothly. The shares of Uber Technologies Inc. (NYSE: UBER) ended its first day of trading on Friday down almost 8% below its initial public offering (IPO) price, as the ride-hailing company’s market

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Pound Strengthens On Rumors of Theresa May’s Resignation

  The British pound moved sideways against the greenback on Friday, despite the announcement of strong UK GDP data in the early London session and multiple upbeat economic data. That was the second consecutive session in which the GBP/USD currency

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