Business

United States retail sales barely rise; import prices drop

WASHINGTON (Reuters): US retail sales recorded their smallest gain in six months in August as consumers cut back on purchases of motor vehicles and clothing, but upward revisions to July data likely keep intact expectations of strong economic growth in the third quarter. Other data on Friday showed the biggest drop in import prices in…

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Takeda gets approval for Shire purchase

TOKYO (Reuters): Takeda Pharmaceutical Co Ltd said on Friday China approved its purchase of Shire Plc, the latest regulator to clear the $62 billion deal and bring the Japanese group closer to becoming a global top 10 drugmaker. The acquisition, which will be the largest overseas purchase by a Japanese company, has already received unconditional…

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‘Trump to be ‘glad’ of media scrutiny’

WASHINGTON (Reuters): Amazon.com Inc Chief Executive Jeff Bezos said on Thursday the company would announce a decision on where it will build a second headquarters before the end of the year, and also said that President Donald Trump is wrong to “attack the media.” Bezos privately owns the Washington Post, which has been among the…

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British Steel to cut 400 jobs worldwide

LONDON (BBC News): British Steel has announced it is to cut 400 jobs from its worldwide operations. The company, which employs 5,000 people, said the job losses were part of a “streamlining” process. Most of the redundancies will be in managerial, professional and administrative roles across its businesses in the UK, Ireland, France and the…

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US auto sector output boosts industrial production

WASHINGTON (Reuters): US industrial production rose in August, as strong output in auto manufacturing offset lackluster production in the rest of the factory sector. The Federal Reserve said on Friday industrial production rose 0.4 percent last month after an upwardly revised 0.4 percent increase in July. Economists polled by Reuters had forecast industrial production rising…

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SPI based inflation witnesses 0.20% increased

F.P. Report ISLAMABAD: The weekly inflation for the week ended on September 13 for the combined income group registered nominal increase of 0.20 percent as compared to the previous week. The Sensitive Price Indicator for the week under review in the above mentioned group was recorded at 228.02 points against 227.57 points registered in the…

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PTCL enters into agreement with Dell EMC

F.P. Report ISLAMABAD: Pakistan Telecommunications Company Limited (PTCL) has entered into an Enterprise Class Infrastructure Solutions Provider agreement with Dell EMC to enhance IT transformation process of businesses across Pakistan. Under this partnership, PTCL will provide Dell EMC infrastructure solution and services to companies and businesses nationwide. These solutions will help organizations in their business…

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New Delhi needs to be alert over rupee: Economic panel member

NEW DELHI (Agencies): India needs to be extremely vigilant to check weakness in the rupee and the task was to minimise volatility and avoid contagion to other macro policies, a member of the prime minister’s economic advisory panel said on Friday. Prime Minister Narendra Modi is set to meet officials on Saturday to decide ways…

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Oil prices recover on supply concerns

TOKYO (Agencies): Oil on Friday clawed back some of its losses from the previous session, when prices fell the most in a month, as concerns about oil supply are countering worries that emerging market crises and trade disputes could dent demand. Brent crude was up 8 cents, or 0.1 percent, at $78.26 a barrel by…

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World trade system needs reform: China

BEIJING (Agencies): The current world trade system is not perfect, and China supports reforms to it, including to the World Trade Organisation, to make it fairer and more effective, Beijing’s top diplomat said. China is locked in a bitter trade war with the United States and has vowed repeatedly to uphold the multilateral trading system…

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