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Former Deutsche Börse chief financial officer Thomas Eichelmann has been named new chairman of Wirecard after his longstanding predecessor Wulf Matthias resigned “for personal reasons” with immediate effect, the German payments provider announced on Friday night.  Wirecard has been facing questions over its accounting practices for months after the Financial Times reported concerns raised by
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Global investors pumped a record amount of cash into fixed-income funds for the week ending Wednesday, after the threat of war prompted them to seek shelter in safe havens. Fixed income mutual funds and exchange traded funds around the world took in $23.2bn, the largest total in data going back to 2001, according to EPFR
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Donald Trump signalled that the US would not respond militarily to Iran’s attacks on American forces in Iraq, in a bid to de-escalate the crisis in the Middle East triggered by his order to kill Iran’s top general.  Flanked by his top national security advisers, Mr Trump said on Wednesday at the White House there
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Australia experienced the hottest and driest year in its recorded history in 2019, which was a major contributing factor to the devastating wildfires that continue to rage, the country’s meteorology bureau said. Data released on Wednesday by the climate monitoring body show Australia’s mean temperature in 2019 was 1.52C higher than average, making it the
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Oil prices jumped and US stock futures sold off after Iran attacked two Iraqi military bases housing American troops in retaliation for Washington’s assassination of Qassem Soleimani last week.  In early Asia trading on Wednesday, the price of Brent crude, the international oil marker, gained 3.8 per cent to $70.84 a barrel, while West Texas
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Spain will have a coalition government for the first time in its modern history — including ministers from the far-left — after parliament confirmed Pedro Sánchez as prime minister by a wafer-thin margin. Tuesday’s 167-165 vote, which came after a furious debate in the country’s chamber of deputies, paves the way for Mr Sánchez to
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General Mark Milley, the US’s top military official, denied that America is pulling troops out of Iraq, saying that a leaked letter by the commander of US forces in the country indicating preparations for withdrawal was a “draft” and a “mistake”. In an afternoon of confusion at the Pentagon, Gen Milley told reporters on Monday
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A few foreign automakers have gazed into the rear view mirror, wondering if they made the right choice on China’s car market. Tesla is not one of them. Mass deliveries of Tesla’s latest Model 3s started there this week. Founder Elon Musk’s high expectations for China are mirrored in Tesla’s share price. It has almost
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Three Americans were killed when Al-Shabaab fighters stormed a Kenyan air base used by the US military in Lamu county on Sunday in a particularly brazen attack on Kenyan soil by the al-Qaeda-linked Somali terrorist group. US Africa Command said that a US service member and two Department of Defense contractors had been killed, and
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Militants fired rockets at an Iraqi base housing American personnel and into an area close to the US embassy in Baghdad, hours after tens of thousands of people took to the streets in a funeral procession for Iran’s most-revered military commander and a top Iraqi paramilitary leader.  The US assassination of Qassem Soleimani, head of the
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Hassan Rouhani has warned that Iran’s response to the killing of the country’s most revered military commander would be long and drawn out, as he drew parallels with the US-engineered coup that reinstated the Shah in 1953. The assassination of Qassem Soleimani, head of the Iranian Revolutionary Guards’ overseas forces, in a US drone strike
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Donald Trump said the US did not want to “start a war” with Iran by assassinating Qassem Soleimani, saying he ordered the killing of the Iranian military commander as a pre-emptive strike to foil “imminent and sinister” attacks on US personnel. In a brief statement at his Mar-a-Lago resort in Florida on Friday, the US president said
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US regulators have unveiled long-awaited restrictions on some flavoured e-cigarettes in an attempt to contain an “epidemic” of teenage vaping, while stopping short of an outright ban, in a decision criticised by public health campaigners. Companies have been given 30 days to cease the manufacture, distribution and sale of cartridge-based flavoured versions under a Food and
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The new catchphrase in UK Prime Minister Boris Johnson’s government is “levelling up”. It describes the ambition to raise the level of economic performance in all parts of the country towards those of London. In his New Year message, Mr Johnson promised his government would be “spreading opportunity to every corner of our country” in
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The young leader of Austria’s conservative People’s party, Sebastian Kurz, is to return to the chancellorship as the world’s youngest head of government in a new coalition with the country’s resurgent Green party.  A deal between the People’s party — which won 37.5 per cent of the vote in late September’s snap election — and
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The world’s largest listed oil producer has the world’s largest carbon footprint. Yet it is set to do less than smaller peers to contain global warming. Saudi Aramco has not set any obvious reduction targets. Its leadership in the Opec cartel hands it an inherent limit on production plus it has very low costs. This
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The US national security adviser has warned that any North Korean intercontinental ballistic missile test would complicate negotiations between Washington and Pyongyang aimed at denuclearising the Korean peninsula. In an interview with the Financial Times as Pyongyang ratcheted up its bellicose rhetoric ahead of a New Year speech by Kim Jong Un, North Korean dictator,
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In the roadside bars of New Billy, a sprawling slum in Malabo, people drink Castel beer and steer clear of politics. “They try to make Malabo like Dubai but that’s not reality — this is the real Malabo,” said one resident of Equatorial Guinea’s capital, pointing to the stream of sewage running down the rutted
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Bolivia’s caretaker government said it would expel the Mexican ambassador and two Spanish diplomats, ratcheting up tensions over Mexico’s decision to grant asylum to allies of former president Evo Morales.  An estimated nine people are believed to be holed up in the Mexican residence in La Paz, among them a former aide to Mr Morales,
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Two years ago, Zhou Xiaochuan, then China’s central bank governor, ​told a press conference at the 19th Communist party Congress in Beijing ​that too many procyclical factors in the economy and excessive optimism risked generating “accumulating contradictions that could lead to the so-called Minsky moment”. There is still a danger of a “Minsky moment” hitting China’s
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The UK government has referred itself to the data regulator after accidentally publishing the addresses of more than a thousand New Year honours recipients. Personal addresses were made available online to the public from 11pm on Friday, before the information was removed from a government website about an hour later. The 1,097-strong list of those
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It was meant to be one of Asia’s longest tunnels, linking the fertile Kashmir Valley with the deserts of high-altitude Ladakh. Narendra Modi even travelled to the remote Himalayan city of Leh to inaugurate the ambitious infrastructure project, calling it “a technological miracle”. The $1bn Zojila tunnel, running along the volatile Kashmir boundary where India
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US consumers are expected to send back a record $100bn worth of unwanted goods bought between Thanksgiving and Christmas as the rise of ecommerce causes a returns epidemic. Online purchases are almost three times more likely to be returned than those in stores, leaving retailers with millions of items to sort. Clothing is particularly problematic
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