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European countries are poised to tighten coronavirus crisis restrictions as soaring infection rates stoke alarm across the continent, sending stocks to their lowest level since May. Angela Merkel, Germany’s chancellor, was due to hold talks on Wednesday with premiers of the country’s 16 states about proposed new curbs, while France’s president Emmanuel Macron will give
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Apple is stepping up efforts to develop its own search technology as US antitrust authorities threaten multibillion-dollar payments that Google makes to secure prime placement of its engine on the iPhone. In a little-noticed change to the latest version of the iPhone operating system, iOS 14, Apple has begun to show its own search results
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Corporate America’s most powerful lobby groups have called for patience as votes are counted in next week’s election, hours after President Donald Trump said it would be “totally inappropriate” if ballots were still being tallied after election day. The US Chamber of Commerce, the Business Roundtable and six other groups representing industries from retail to
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More than 60m Americans have already cast their ballots in the US presidential election amid a surge in early voting due to the pandemic, pointing to massive turnout despite fears that Covid-19 would dampen participation. According to data from the US Elections Project, more than 63m Americans had voted as of Monday evening, either by
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A vaccine considered a frontrunner in the race to protect the global population from Covid-19 has produced a robust immune response in elderly people, the group at highest risk from the disease, according to two people familiar with the finding. The discovery that the vaccine being developed by the University of Oxford, in collaboration with
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US states were grappling with surges in coronavirus cases that threatened to overwhelm hospitals as Donald Trump and Joe Biden staged competing campaign rallies on Saturday with just 10 days to go until the presidential election. Mr Trump was due to visit three battleground states — North Carolina, Ohio and Wisconsin — on Saturday alone
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The US has tallied the most new coronavirus cases in a week since a major summer outbreak, threatening to overwhelm hospitals in parts of the country just as voters head to the polls for one of the most hotly contested presidential elections in modern history. The worst-hit region in the latest spike continued to be
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European governments have warned of an alarming rise in the number of coronavirus infections across the continent from west to east, an autumnal second wave that threatens to overwhelm hospitals and will sharply increase the death toll in the weeks ahead.  “The situation is grave,” Pedro Sánchez, Spain’s prime minister, said on Friday, a day
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Donald Trump and his Democratic challenger Joe Biden clashed over the best way to tackle the coronavirus pandemic in a final presidential debate on Thursday night that was less chaotic than their first encounter. Mr Biden slammed Mr Trump over his handling of the crisis, accusing the president of hiding the severity of the threat
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Hong Kong’s securities regulator has fined Goldman Sachs’s Asia business a record $350m for serious deficiencies in risk compliance and money laundering controls in relation to Malaysia’s 1MDB. The Hong Kong fine is the first of more than $2bn of new penalties set to be announced on Thursday as regulators from the US to the
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China is promising preferential access to its Covid-19 vaccines to countries across Asia, Africa and Latin America, as Beijing uses inoculations as a new tool to bolster its ties with nations neglected by the US. Wang Yi, China’s foreign minister, has spearheaded the effort, pledging that Malaysia, Thailand, Cambodia and Laos will be among the
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Donald Trump’s handling of the US economy is no longer benefiting his candidacy just weeks before election day, with a Financial Times poll finding more Americans believe the president’s policies are hurting rather than helping the recovery. The final monthly survey of likely voters before November 3 for the FT and the Peter G Peterson
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US stocks slid for the fourth time in the past five days as coronavirus cases continued to rise and a deadline on US stimulus talks loomed. The benchmark S&P 500 closed 1.6 per cent lower on Monday, with roughly nine of every 10 stocks in the index down on the day. The technology-heavy Nasdaq Composite
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China’s economy expanded 4.9 per cent year-on-year in the third quarter as the country continues its rapid recovery from the coronavirus pandemic. The expansion in gross domestic product missed expectations but is still well ahead of a 3.2 per cent increase in the second quarter and represents a sharp turnround from a historic decline at
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Europe’s economy is sliding towards a double-dip recession, with economists warning that rising coronavirus infections and fresh government restrictions on people’s movement are likely to cut short the region’s recent recovery. Germany, France, the UK, Italy, Spain and the Netherlands have all announced measures in the past week to contain the second wave of Covid-19
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Donald Trump has used rallies in Michigan and Wisconsin to urge their Democratic governors to relax coronavirus restrictions, even as both states experience record numbers of new cases. The US president held large rallies in both swing states on Saturday, during which he attacked Gretchen Whitmer, the governor of Michigan, and Tony Evers, the Wisconsin
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Senior Federal Reserve officials are calling for tougher financial regulation to prevent the US central bank’s low interest-rate policies from giving rise to excessive risk-taking and asset bubbles in the markets. The push reflects concerns that the Fed’s ultra-loose monetary policy for struggling families and businesses risks becoming a double-edge sword, encouraging behaviour detrimental to
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The US’s third big coronavirus outbreak showed no sign of abating on Friday, with hard-hit states like Wisconsin, Minnesota and Indiana reporting record one-day increases in infections. Although the new spate of cases has been concentrated in the Midwest and other northern states that are beginning to move into cold and flu season, other states
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Donald Trump refused to denounce a conspiracy theory peddled by far-right group QAnon as the president and his Democratic challenger Joe Biden participated in separate televised town halls on Thursday night with less than three weeks until the election. Mr Trump and Mr Biden took questions from voters on two different television networks, NBC and
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European stocks and Wall Street futures dropped on signs that coronavirus is gathering pace, while a rally in German debt pushed yields on the regional haven to the lowest level since the market tumult in March. The gloomy trading day came after several countries including France and the UK announced new restrictions in an attempt
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Booming markets drove a surge in third-quarter profits at Goldman Sachs’ trading and asset management businesses, helping the Wall Street bank to post its strongest profitability since 2010. Goldman delivered an annualised return on equity of 17.5 per cent for the three months to the end of September, its highest quarterly return in a decade.
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