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Pound jumps after UK tax cut rescinded, oil climbs higher

Pound jumps after UK tax cut rescinded, oil climbs higher

TOKYO, Oct 3 (Reuters) – Oil surged on Monday as OPEC+ considered cutting output at its meeting later this week, while the pound appreciated after the British government announced it would would undo a controversial tax cut that had rocked UK markets. Asian stocks mostly fell over the holidays, although Japanese markets found support from …

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To cope with a kimchi crisis, South Korea is banking on huge cabbage warehouses

To cope with a kimchi crisis, South Korea is banking on huge cabbage warehouses

SEOUL, Sept 30 (Reuters) – South Korean kimchi makers are in deep trouble as a climate change-induced cabbage shortage has driven up prices this year, compounding the damage inflicted by cheaper offers from Chinese competitors. Such is the sense of crisis surrounding the spicy pickled side dish eaten daily by many Koreans and central to …

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Stocks hit 2-year low as central banks step up war on inflation

Stocks hit 2-year low as central banks step up war on inflation

Join now for FREE unlimited access to Reuters.com Register MSCI All-World hits 2-year low Yen stable but traders wary of more intervention Treasuries head for eighth weekly loss LONDON/SYDNEY, Sept 23 (Reuters) – Stocks hit a two-year low on Friday and bonds suffered an eighth weekly loss as investors digested the prospect of a much …

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China's Nio takes on BMW and Mercedes in domestic market with flexible battery plan

China’s Nio takes on BMW and Mercedes in domestic market with flexible battery plan

People visit the Nio booth during a media day for the Auto Shanghai show in Shanghai, China April 20, 2021. REUTERS/Aly Song Join now for FREE unlimited access to Reuters.com Register SHANGHAI, Sept 21 (Reuters) – Chinese electric car startup Nio is seeking to capture a share of the growing European electric vehicle market by …

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