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UniCredit Takes 9% Stake in Commerzbank
The Italian lender said it would engage with Commerzbank to explore value-creating opportunities and that it would submit regulatory filings for authorization to potentially exceed a 9.9% shareholding.
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German 10-Year Bund Yield Seen on Track Toward 2% in Coming Weeks
The bullish momentum in U.S. Treasurys could bring the year-to-date 10-year Bund yield lows near 2% into sight in the coming weeks, according to Commerzbank Research.
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News Corp’s REA Says $7.3 Billion Offer Rebuffed by Rightmove
News Corp-controlled REA Group will have to sweeten the deal after U.K. counterpart Rightmove rebuffed its initial $7.32 billion approach.
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Nikkei Ends 1.5% Lower as Yen Spikes on BOJ Rate-Hike View
The Nikkei Stock Average closed 1.5% lower at 35619.77, extending its decline after the yen strengthened sharply on expectations for further rate hikes by the Bank of Japan.
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U.K. Economy Continues to Stagnate
The U.K. economy flatlined in July, a snag for the Bank of England as it attempts to nail a soft landing from the inflation shock caused by Russia’s full-scale invasion of Ukraine.
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Lithium Miners Shares Surge on Possible CATL Supply Cut
Shares of lithium producers rose on possible suspension of some lithium mining and production operations by the world’s biggest maker of batteries for electric vehicles.