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Rupert Murdoch’s Fox eyes rest of Sky

Rupert Murdoch’s Twenty-First Century Fox Inc has struck a preliminary deal to buy the 61 percent of British pay-TV firm Sky PLC it does not already own for about US$14 billion, five years after a political scandal wrecked a previous bid. The proposed offer of £10.75FULL STORY

China dumping washing machines, US ruling says

Chinese manufacturers are dumping washing machines into the US market at artificially low prices, making them subject to punitive duties of up to 52 percent, the US Department of Commerce said on Friday. In a case brought by US appliance manufacturer Whirlpool Corp a year ago,FULL STORY

Italian bank MPS denies ECB notice on deadline

Shares in troubled Italian bank Monte dei Paschi di Siena (MPS) plunged on Friday following news reports that the bank’s request for more time to raise new capital from investors had been rejected by regulators. However, the bank said it had not received official notificationFULL STORY

Coca-Cola names Quincey as next chief executive

Coca-Cola Co chief executive officer Muhtar Kent is to step down from that role next year and be succeeded by the company’s No. 2 executive, at a time when people are drinking less sugary soda, including its flagship Coke drink. Chief operating officer James Quincey, long-expectedFULL STORY

Hitachi unveils first Intercity Express train built in Britain

The first Intercity Express train to be built at Hitachi Ltd’s UK plant has been unveiled. The train is one of 122 ordered by the British government in a £5.7 billion (US$7.17 billion) deal to run on mainlines between London and the UK’s southwest and fromFULL STORY

Saffron: Rural Spain’s
crisis-beating spice

By Adrien Vicente

On the arid, wind-swept plateau of central Spain, saffron producers are reaping the benefits of a return to favor of the precious spice introduced by Arabs in the Middle Ages. After a lull in production due to the high cost of growing saffron in Spain, farmersFULL STORY

Singapore is beating Hong Kong in Asia’s fintech race

By Chanyaporn Chanjaroen and Darren Boey

Tax benefits, government help and easy access to regional markets led Joe Seunghyun Cho to choose Singapore as the headquarters for his six financial technology (fintech) companies, rather than base them in the rival hub of Hong Kong or his native South Korea. “We are quiteFULL STORY

Airbnb sets collaborative model in New Orleans

By Katie Benner

When Airbnb started talking to the city of New Orleans last year about how to regulate the short-term rental market there, the company was fighting policy battles in places such as New York City and Barcelona. New Orleans officials said they sensed that the bruising globalFULL STORY

US indices soar to fresh record highs

Major US stock indices powered to another day of fresh record highs on Friday, with the S&P 500 ending the week up 3 percent, as investors bid up shares in sectors that have lagged in the month-long rally since Donald Trump’s election as US president. TheFULL STORY

Tokyo extends gains, but most Asia traders cautious

Japanese stocks rose again on Friday as a weaker yen provided further support to exporters, while the euro struggled to recover after the European Central Bank (ECB) extended its stimulus package. Hong Kong-listed casino operators plunged after a report said officials had halved the amount ofFULL STORY

Dollar gains against yen show no sign of slowing

The US dollar climbed to the highest level in 10 months against the yen as its best run since 2014 showed little sign of abating. The US currency has advanced every week since the election of Donald Trump as US president, and climbed through ¥115 onFULL STORY

Oil prices rise on Saudi commitment; investors flee gold

Oil advanced on Friday, as Saudi Arabia was said to have informed its customers it would stand by its commitment to cut production before OPEC meets with producers from outside the group to discuss reductions. Futures climbed 1.3 percent, extending Thursday’s 2.2 percent gain. Saudi ArabianFULL STORY

ECB support drives European stocks to two-year-high rally

European stocks on Friday extended their biggest weekly rally in almost two years amid supportive policies from the European Central Bank (ECB). The STOXX Europe 600 Index added 1 percent, while the Euro STOXX 50 Index closed within 0.7 percent of a bull market. Italy’s FTSEFULL STORY

World Business Quick Take

SOVEREIGN DEBT Fitch holds UK at ‘AA’ The Fitch ratings agency on Friday affirmed the “AA” long-term debt rating and negative outlook for the UK and the Bank of England, where they have been since June. In the wake of the surprise vote in June to exitFULL STORY

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