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Foreign buyers push up sales in Milan

After spending three months cooped up in a one-bedroom apartment during Milan’s first lockdown, Giovanni and Silvia Porzio needed to get out. “We had never both stayed at home all day before the lockdown situation. It made us realise that we didn’t have enough space to live together peacefully,” Giovanni says.  Trying to sell their… Continue reading Foreign buyers push up sales in Milan

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Repsol cuts dividend ahead of renewables push

Repsol slashed its dividend by 40 per cent, the latest big energy company to strip back shareholder payments amid lower oil prices and the need to fund new investments in renewable energy projects. The Spanish group’s move came as it unveiled a five-year plan to adapt to the drop in oil prices that has roiled… Continue reading Repsol cuts dividend ahead of renewables push

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TSMC and Google push chipmaking boundaries with 3D ‘stacking’

Taiwan Semiconductor Manufacturing Co is working with Google and other US tech groups to develop a new way of making semiconductors more powerful. The industry’s traditional approach of cramming ever more transistors on to a single chip is starting to lose steam. In response, the world’s largest contract chipmaker is focusing on chip packaging —… Continue reading TSMC and Google push chipmaking boundaries with 3D ‘stacking’

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Facebook’s political network push

Facebook is looking to exploit the political network as well as its own social version as it tries to curry favour with the incoming Biden administration, according to our reporters in Washington and San Francisco. Nick Clegg, the former UK deputy prime minister who is now Facebook’s vice-president of global affairs, is seen as someone… Continue reading Facebook’s political network push

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Sweden’s LKAB plans $47bn push into carbon-free iron ore

Sweden’s LKAB plans to pump $47bn into carbon-free iron ore in a push it says is the country’s largest-ever industrial investment and will require electricity equivalent to a third of current national supply. The state-owned company said on Monday it would invest up to SKr400bn over the next 20 years to use “direct reduced iron”… Continue reading Sweden’s LKAB plans $47bn push into carbon-free iron ore

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Stocks push higher on AstraZeneca/Oxford vaccine results

Another Covid-19 vaccine breakthrough bolstered sentiment on Monday, after data showed that the shot being developed by AstraZeneca and Oxford university had exceeded the level of efficacy sought by regulators. Europe’s benchmark Stoxx 600 index gained 0.7 per cent in early trading, climbing to its highest point since February. London’s FTSE 100 rose 0.3 per… Continue reading Stocks push higher on AstraZeneca/Oxford vaccine results

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Mark Hulbert: Momentum stocks may get an end-of-the-year push, history shows

The next six weeks are shaping up to be especially good for momentum strategies in the stock market. Such strategies lead investors to typically buy the winning stocks over the trailing year and sell (or sell short) the losers. This year the pattern is likely to be particularly strong, for two reasons. The first is… Continue reading Mark Hulbert: Momentum stocks may get an end-of-the-year push, history shows

Business news

Trump makes last push to impose lower drug prices

President Donald Trump has announced reforms to tackle high drug prices in the United States, including a controversial measure to try to price American seniors at the lowest level in the developed world. The administration said it would impose a so-called most-favored-nation model, in which the government-run Medicare program would pay no more for 50… Continue reading Trump makes last push to impose lower drug prices

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EU states push for Hungary and Poland to drop budget deal veto

EU ministers urged Poland and Hungary to drop their veto over the union’s long-awaited budget deal as they warned of the continued economic damage being wrought by the Covid-19 crisis.  Representatives from France, Germany, Denmark and other member states said citizens could ill-afford delays to the €1.8tn funding package first agreed at a July summit,… Continue reading EU states push for Hungary and Poland to drop budget deal veto

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City Bulletin: Price rises in mature markets help push up revenues at Imperial

It has not been an easy year to give up smoking. Imperial Brands, the owner cigarette brands including Gauloises and Rizla, said that tobacco sales have remained strong through the pandemic, though the product mix was “sub optimal”. Price hikes in mature markets such as the US, Germany and the UK meant group revenue for… Continue reading City Bulletin: Price rises in mature markets help push up revenues at Imperial