LVMH surprised by ‘inaccurate rumours’ about replacement of Moet Hennessy division head

PARIS (Reuters) -French luxury goods group LVMH said it was “surprised by inaccurate rumors” about its Moet Hennessy division relayed on Friday by French investigative media La Lettre, which reported its longtime wine and spirits division head was being replaced by an executive in the business. La Lettre said the group would name Laurent Boillot, …

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Commerzbank considering its own acquisitions, CEO tells paper

BERLIN (Reuters) – Commerzbank is considering its own acquisitions, for example in the area of asset management, its CEO Bettina Orlopp told German business news outlet WirtschaftsWoche in an interview published on Friday. “With further acquisitions, we are focusing on offering our customers new services,” said Orlopp. Italy’s UniCredit is pressing for a possible tie-up …

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Exclusive-Tokio Marine pauses sale of $1 billion Southeast Asia life insurance business, sources say

By Yantoultra Ngui and Kane Wu SINGAPORE/HONG KONG (Reuters) – Japanese insurer Tokio Marine has paused the sale of its $1 billion Southeast Asia life insurance business, partly due to a dispute with a Malaysian partner over an expiring products distribution agreement, four sources with knowledge of the matter said. The Tokyo-listed company hired Goldman …

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‘Worth zero’: Founder of India’s once biggest startup Byju’s concedes mistakes

By Arpan Chaturvedi NEW DELHI (Reuters) – Byju Raveendran, the founder of what was once India’s biggest start-up, Byju’s, said he overestimated the growth potential of his education-technology company which is now “worth zero” as it faces insolvency, but remains hopeful of rescuing it. Byju’s, which operates in more than 21 countries, became popular during …

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Analysis-From bitcoin to Mexican peso, ‘Trump trades’ are appearing again

By Saqib Iqbal Ahmed and Suzanne McGee NEW YORK (Reuters) -Corners of financial markets that could feel the impact of a Donald Trump victory are stirring again, as the U.S. presidential race tightens with less than three weeks until Election Day. Assets ranging from small-cap stocks to bitcoin have climbed in recent weeks while the …

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Moscow exhibits Gaddafi daughter’s art, painted in slain Libyan leader’s honour

MOSCOW (Reuters) – A Russian state museum is mounting an exhibit of artwork by the daughter of slain Libyan leader Muammar Gaddafi, dedicated to her father’s memory. Aisha Gaddafi, 47, is the fifth child and only biological daughter of the dictator who ruled the North African country from 1969 until he was captured and killed …

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India eyes $87 billion investment in petrochemicals sector over next decade, says minister

(Reuters) – India is expected to receive investments worth $87 billion in the next decade to meet the nation’s rising demand for petrochemicals, the country’s oil minister Hardeep Singh Puri said on Friday. “As more citizens enter the middle class, the demand for a diverse range of products, many of which are derived from petrochemicals, …

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Netflix hits record high as strong subscriber additions ease growth worries

(Reuters) -Netflix shares hit an all-time high on Friday, buoyed by investor optimism that its robust content lineup will help the streaming giant maintain upbeat subscriber growth even as the boost from its password-sharing crackdown wanes. The company, widely seen as the winner of Hollywood’s streaming wars, saw its stock rise nearly 10% and was …

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