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IMF warns of financial stability risks

The International Monetary Fund (IMF) has warned that risks to financial stability are growing. It warns about what it calls “medium-term” dangers in both emerging and developed economies, in its twice-yearly report. It expresses particular concerns about Europe, Japan and China. On a more positive note, the fund does say …

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Ex-Tesla rival Fisker rejoins electric car race

Tesla’s former rival in pioneering electric cars, Henrik Fisker, has re-entered the electric car market announcing two new models. Mr Fisker’s previous company, Fisker Automotive, founded in 2007, built luxury cars popular with celebrities until its high profile 2013 bankruptcy. For his new venture, Mr Fisker has announced both a …

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Tesco shares jump as sales continue to recover

Shares in the supermarket giant Tesco have jumped 10% after it reported another rise in sales, and said it would hit its full-year profit target. Like-for-like sales, which strip out the impact of new store openings, grew 1% in the half-year to 27 August, and in the UK they rose …

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IMF warns of hit to UK economic growth

The International Monetary Fund has cut its forecast for UK economic growth next year as it warned that the global recovery remains “weak and precarious”. Although the IMF raised its prediction for UK GDP growth this year to 1.8%, the figure for 2017 was cut to 1.1%. Its assumptions are …

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India’s central bank cuts interest rates

India’s central bank has cut a key interest rate to its lowest level for nearly six years, in an effort to boost the economy. The bank cut its benchmark repo rate to 6.25% from 6.50%. This was the first interest rate review under the new governor of the bank, Urjit …

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LVMH bags German luggage firm Rimowa

Luxury brand group LVMH has bought a controlling stake in upmarket German luggage maker Rimowa for €640m (£560m). Founded more than a century ago, Rimowa is best known for the 1937 launch of an aluminium suitcase, recognisable by its parallel grooves. The takeover deal follows Samsonite’s $1.8bn (£1.4bn) purchase of …

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Heathrow decision in ‘not-too-distant future’

A decision over where to site a new runway in the south east of England will be taken in the “not-too-distant future”, Transport Secretary Chris Grayling has said. The decision has been deliberated for years and was delayed most recently by the upheaval caused by the Brexit vote. In July …

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India tax evasion amnesty uncovers hidden billions

A tax evasion amnesty in India has prompted tens of thousands of people to declare more than $9.5bn (£7.3bn) in undeclared income and assets. Finance minister Arun Jaitley said the four-month window that ended on Friday brought in 64,275 declarations. All were offered immunity from prosecution in return for paying …

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