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Global Business News for 29 Jun 2016
Katzenberg stiffed owners inA DreamWorks Animation shareholder on Tuesday accused Hollywood heavyweight Jeffrey Katzenberg of enriching himself but screwing other owners when he agreed to sell the studio to Comcast for $41 a... share. DWA is worth more than the agreed-upon $3.8 billion sale price, but Chief Executive Katzenberg consented to the figure because he will receive 7...
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Airbnb looking to up valuation to $30B

New York Post - 29 Jun 2016 06:24
Airbnb looking to up valuationAirbnb is in talks to raise fresh funds that would value the company at $30 billion, The Post has confirmed. The home-sharing site, which had valued itself at $24 billion in a round of funding last... year, will have tripled its valuation in two years. San Francisco-based Airbnb plans to use the new funds to...
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Lyft expects to plateau in later summer months

New York Post - 29 Jun 2016 06:01
Lyft expects to plateau inLyft logged record rides in May but expected the numbers to be flat or lower in June, according to a leaked memo to investors. The ride-hailing app, which reportedly has hired the investment bank... Qatalyst Partners to raise cash or possibly sell itself, recently told investors it beat internal targets for second-quarter rides by 35...
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The pound edges higher against the dollar after slumping to a three-decade low
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Chinese Buyers Look Again at U.K. Property

Wall Street Journal - 29 Jun 2016 05:30
As turmoil continues to grip U.K. markets, some in China are beginning to eye British property for potential bargains.
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Amazon expands brand partners for Dash Buttons (AMZN)

Business Insider - 29 Jun 2016 05:30
Amazon expands brand partnersBII This story was delivered to BI Intelligence "E-Commerce Briefing" subscribers. To learn more and subscribe, please click here. Amazon is reportedly gearing up to announce a slew of new brand... partners for its Dash Button, a small device with an embedded button for one-click ordering, according to The Wall Street Journal.  The buttons are linked to customers' home Wi-Fi and the Amazon Mobile App, allowing shoppers to instantly place orders for delivery. Amazon originally offered Dash Buttons for 11 different brands, all centered around common household items and self-care products, like Tide detergent, Gillette razors, Huggies diapers, and Maxwell House coffee. The company has now partnered with additional brands to offer over 100 different products for this one-click ordering...
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Brexit: Bank of Japan urged toCentral bank increases US dollar supply as PM Shinzo Abe flags continued risks, while gold rises again and metals trading suggests global stimulus expected Shinzo Abe has urged Japan's central bank to... ensure ample funds are available to help Japanese companies operating in Britain and shore up business at home after the UK's shock vote to exit the European Union. "A sense of uncertainty and worry about risks remain in the markets," the prime minister told a meeting between the government and the Bank of Japan on Wednesday as Asian markets joined a rally but the Brexit vote continued to reverberate around global financial markets.
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Hillary Clinton on Tuesday proposed letting entrepreneurs defer making student loan payments in order to create jobs and stimulate growth. …
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The hit to UK real estate sentiment that many experts predict will be sparked by the vote to leave the European Union may be limited by easier monetary policy, it is claimed. While uncertainty in the... run up to the referendum had little effect on domestic real estate pricing this year, investment activity slowed but an analysis report suggests that this hasn’t been exclusively caused by Brexit fears but largely reflects greater investor caution as the market reaches the top of the cycle. However, according to Chris Unwin, head of global research at Aviva Investors, the vote to leave suggests there is now little hope of any bounce in sentiment. ‘Indeed, it may be many years until we have clarity on the UK’s constitutional arrangements and trading agreements,’ he said. He pointed out...
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Annual Healthcare Cost ForThe Milliman Medical Index (MMI) was released earlier today, and like every year since 2001, the index was up. This year's MMI-which calculates the total cost of employer-sponsored PPO coverage for an... average American family of four-is $25,826. That's the total average cost for employer-sponsored coverage, but the MMI is further
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Brexit derails Lionsgate-Starz merger

New York Post - 29 Jun 2016 04:43
Brexit derails Lionsgate-StarzThe widely expected merger between Lionsgate and Starz has been derailed because of the Brexit currency chaos, The Post has learned. One of the banks being lined up to provide the financing was forced... to withdraw from the deal after the British pound fell about 10 percent versus the dollar over two days, one source...
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The Fed's job keeps getting more and more complicated

Business Insider - 29 Jun 2016 04:33
The Fed's job keeps gettingThe Fed revealed in its latest statement that it will take a more dovish approach to normalizing its federal funds rate, but still left the door open to some degree that an increase could happen... later this year. It’s a night-and-day juxtaposition from the central bank’s stance in December, both as a result of domestic considerations and international concerns. Six months on, we believe that accurately judging the Fed’s next move will require paying attention to jobs growth, inflation expectations and corporate profits here at home. We’ll also be keeping a close eye on conditions abroad – particularly in China, which remains the most important aspect of global economic growth. The (slow) road to a rate hike As you can see in the chart below, the Fed’s forecast for its median...
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What happened in this cityReuters/Darren Staples Britain is still reeling from the economic and political shock of the EU referendum result. While the nation struggles to get to grips with the consequences of Brexit, many in... the UK and around the world are wondering how it came to pass. Certainly, it was a close call; only four percentage points confirmed the win for Leave (51.9%) over Remain (48.1%). Fortunately, there’s one part of the country which can help us to make sense of the bigger picture: the city of Sheffield. Sheffield’s referendum vote was similar to the national one in a couple of ways. Like the rest of the country, the city voted in favor of Brexit by a paper-thin margin: just 51% voted to Leave, with only 6,000 votes separating the Brexit and Remain camps. And right up until the eve of the...
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Karl's question leaves Shorten dumbstruck

Daily Telegraph - 29 Jun 2016 00:39
Karl's question leaves ShortenBILL Shorten has had an awkward start to the day. He was left dumbstruck when challenged by Karl Stefanovic on Today.
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U.K. stocks advance Wednesday, with risk appetite reignited for a second straight session in the wake of the Brexit-inspired rout in global equities.
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The U.K. pound is higher Wednesday, as worries over the impact of the Brexit vote recede, with safe-haven appetite for the yen falling back somewhat.
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Toyota Recalls 1.4 Million Vehicles for Airbag Problem

The New York Times - 29 Jun 2016 09:39
Toyota Recalls 1.4 MillionThe automaker said the airbags had not been supplied by Takata, though the defect described is similar to one that led to the Takata recalls.
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Japanese stocks lead a region-wide rally as fears about the U.K.'s decision to leave the EU abate and investors begin buying up badly beaten sectors like financials.
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Japan's Toyota Motor Corp recalls 3.37 million cars worldwide over possible defects involving airbags and emissions control units.
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Dixons Carphone profits jumpDixons Carphone says it expects to find "opportunities for additional growth" in the wake of Brexit as the company reports a 17% jump in annual profits.
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BUY Eclerx, target Rs 1570: Centrum Broking

The Economic Times - 29 Jun 2016 08:51
The softer revenue guidance for 1HFY17 is owing to completion of short-term projects in select large accounts
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The management is indicating stable demand environment and expects to grow FY17 revenues in line with industry growth.
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Nikkei gains as markets try to fight off Brexit fears

The Economic Times - 29 Jun 2016 08:47
The broader Topix climbed 1.88 percent to 1,247.69 and the JPX-Nikkei Index 400 rose 1.87 percent to 11,263.70.
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House price growth sees slightThe annual rate of house price growth increased slightly in June, according to the latest survey from the Nationwide building society.
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Navkar Terminals Ltd, a wholly owned subsidiary of the company, recently received a contract for operation and management of KRIL's (Kribhco Infrastructure Ltd) container freight station/ICD and... handling of container trains at Hazira Terminal, Gujarat.
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