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Adobe’s $20 billion Figma buyout deal under UK competition watchdog scanner

(Reuters) – Britain’s competition watchdog said on Wednesday it was looking into Adobe Inc’s $20 billion buyout deal for cloud-based designer platform Figma to find if it could lead to “substantial lessening of competition” in the country. The move underlines regulators’ worries that large tech firms acquiring smaller innovative rivals could throttle competition. UK Competition …

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US Senate Democrats launch renewed effort to counter China

By Patricia Zengerle and David Shepardson WASHINGTON (Reuters) – U.S. Senate Democrats launched a renewed effort to stave off competition from China on Wednesday, planning legislation to boost the country’s ability to face up to the Asian powerhouse on issues from technology to security and threats to Taiwan. After passing a sweeping bill last year …

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India’s Tata Chemicals posts 62% rise in Q4 profit on strong demand

BENGALURU (Reuters) – India’s Tata Chemicals Ltd posted a 62% jump in fourth-quarter profit on Wednesday, helped by demand for products such as soda ash, bicarbonate and salt. The chemical manufacturer’s consolidated net profit rose to 7.09 billion rupees ($86.7 million) in the three months ended March 31, from 4.38 billion rupees a year ago. …

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Factbox-U.S. state abortion legislation to watch in 2023

By Gabriella Borter and Sharon Bernstein (Reuters) – State legislatures are wrestling with how much to restrict or expand abortion access after the U.S. Supreme Court overturned Roe v. Wade last year. Here is a snapshot of pending and passed legislation seeking to restrict or protect access in 2023, including details on a law that …

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South African rand gains before Fed rate decision

JOHANNESBURG (Reuters) -The South African rand gained on Wednesday ahead of a Federal Reserve interest rate announcement that will set the tone for markets globally. At 1508 GMT, the rand traded at 18.2750 against the dollar, over 1% stronger than its closing level on Tuesday. The dollar was last down around 0.45% against six rivals. …

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Russian former F1 driver Mazepin fighting UK sanctions to revive career

By Sam Tobin LONDON (Reuters) – Russian former Formula One driver Nikita Mazepin is fighting British sanctions imposed following the invasion of Ukraine in a bid to resurrect his racing career. Nikita Mazepin was dropped last March by his team Haas, which also severed ties with its title sponsor Uralkali, a Russian fertiliser producer then …

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Russia accuses Ukraine of attempt to kill Putin with drones

MOSCOW/KYIV (Reuters) – Russia accused Ukraine on Wednesday of a failed attempt to assassinate President Vladimir Putin in a drone attack on the Kremlin citadel in Moscow, and threatened to retaliate. Kyiv denied any role in the reported incident, with a senior aide to President Volodymyr Zelenskiy calling it a sign that the Kremlin was …

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Estee Lauder sinks after dour 2023 view on slow recovery in Asia

By Ananya Mariam Rajesh (Reuters) -Estee Lauder Cos Inc’s shares plunged on Wednesday after the cosmetics maker forecast a bigger drop in full-year sales and profit than previously estimated, blaming a slow recovery in demand at duty-free and travel destinations, especially in Asia. Shares of the company fell as much as 22% to hit a six-month …

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US stands with Philippines against Chinese ‘intimidation’ in S. China Sea – official

By Karen Lema (Reuters) – The United States stands with treaty ally the Philippines in the face of harassment by China’s coast guard in the South China Sea and remains deeply concerned about “intimidation” by Beijing, a senior U.S. official said on Tuesday. A visit to the United States this week by Philippine President Ferdinand …

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Albemarle agrees $1 billion plan to double Australian lithium hydroxide output, state govt says

MELBOURNE (Reuters) – Albemarle has agreed to double capacity at its lithium hydroxide processing operations in Western Australia to 100,000 tonnes by 2026 and spend more than $1 billion to build two more trains at the facility, the state government said on Wednesday. Construction is expected to start immediately at Albemarle’s Kemerton operations south of …

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