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MILAN (Reuters) -Monte dei Paschi di Siena faces a tight schedule to secure cornerstone shareholders for a share sale of up to 2.5 billion euros ($2.4 billion) after an election pause during which investors were non-committal ended on Monday. After leading the conservative alliance to victory in Sunday's vote, Giorgia Meloni looks set to become Italy's first woman prime minister at the head of its most right-wing government since World War Two. Maurizio Leo, a senior economic adviser to the Brothers of Italy leader Meloni, said MPS was in good hands.
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Util-Assist and SEW announced today that the companies have signed an agreement for Util-Assist to deliver system integration services to clients implementing SEW's Digital Customer Experience (CX) Platform - Smart Customer Mobile® (SCM®), Digital Workforce Experience (WX) Platform-Smart Mobile Workforce (SMW®), and Smart AI/ML Analytics Platform - Smart-iQ (SiQ).
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If you've got cash that you're looking to invest right now, here are two of the best TSX stocks to buy in this market environment. The post Got $1,000? 2 Simple TSX Stocks to Buy Right Now appeared first on The Motley Fool Canada.
LONDON (Reuters) -Turmoil in British financial markets forced mortgage lenders to temporarily withdraw and reprice products for new customers on Monday, a real-world consequence of the market volatility thrown up by finance minister Kwasi Kwarteng's mini-budget last week. Brokers said the moves were likely just the start of a big shift in Britain's mortgage market. The country's largest mortgage lender Halifax said it was withdrawing its fee-paying mortgage products - where borrowers could pay an arrangement fee in exchange for a lower interest rate - and moving to a full fee-free range.
OTTAWA — Federal Industry Minister Francois-Philippe Champagne will represent Canada at former Japanese prime minister Shinzo Abe's state funeral this week. Prime Minister Justin Trudeau was scheduled to visit Japan and attend Tuesday's funeral, but cancelled those plans to oversee recovery efforts after post-tropical storm Fiona ravaged much of eastern Canada and parts of Quebec. Describing Abe as a friend and ally of Canada, Champagne says the former Japanese prime minister played an important
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Rio Tinto Ltd on Monday said an employee at one of its mines in Western Australia state was sexually assaulted and that police removed the alleged perpetrator from the site. The incident comes three months after Australia's sex discrimination commissioner called for urgent changes in the country's mining industry after a state government report found that sexual harassment and assault were rife in the sector. "Rio Tinto continues to work closely with Department of Mines, Industry Regulation and Safety in relation to its investigation," a spokesperson said in an emailed statement.
(Reuters) -The Federal Reserve's need to bring down unacceptably high inflation will cause the jobless rate to rise but a recession is not inevitable, and there are signs price pressures may have already peaked, Boston Fed President Susan Collins said in her maiden public speech on Monday. "I do anticipate that accomplishing price stability will require slower employment growth and a somewhat higher unemployment rate," Collins told a local chamber of commerce in Boston, even as she made clear she fully supports the U.S. central bank's more aggressive push to quash price pressures running at 40-year highs.
(Reuters) -The union for Sunwing Airlines pilots said it is urging Canada's government to stop a plan by the Ontario-based leisure carrier to hire foreign pilots this winter to help cope with an expected holiday travel surge. Airline industry use of foreign pilots as aviation rebounds from the COVID-19 pandemic is sensitive for unions in Canada and the United States. "It's a punch in the face," Barret Armann, president of the union local that represents Sunwing pilots, said of the plan to hire non-Canadian pilots, adding that Labor Minister Seamus O'Regan "needs to step in and stop this."
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The recent rally in the U.S. dollar is creating an “untenable situation" for riskier assets that could end in a financial or economic crisis, strategists at Morgan Stanley warned in a note Monday. The wild swings in currencies are another pressure on the global economy and corporate earnings, which are expected to fall as the Federal Reserve’s aggressive interest rate hikes over the summer begin to weigh on spending. “The ultimate lows for stocks, and highs for yields, will likely be determined by the growth trajectory in earnings and the economy rather than inflation or the Fed,” analysts including Michael Wilson at Morgan Stanley wrote.
NEW YORK (AP) — Stocks rose in morning trading on Wall Street Tuesday a day after a broad sell-off sent the Dow Jones Industrial Average into a bear market to join other major U.S. indexes. The S&P 500 rose 1% as of 10:22 a.m. Eastern. The Dow rose 219 points, or 0.8%, to 29,498 and the Nasdaq rose 1.4%. Energy stocks were among the biggest gainers as U.S. crude oil prices rose 2.8%. Exxon Mobil rose 3.1%. Technology stocks and retailers also helped lead the gains. Apple rose 1.7% and Home Depot
Expect an ugly open to Asian markets on Monday as investors try to shield themselves from the fallout from the widespread selling that battered stocks, bonds, and currencies on Friday. The historic rout in UK bonds and sterling took center stage on Friday but at the heart of the gloom shrouding world markets is the Fed's drive to raise rates far higher than most people had bargained for, and the effect that is having on global rates. The dollar's 'wrecking ball' status is being painfully felt in Asia, where several currencies have sunk to multi-year or record lows, and central banks have intervened to try and stop the rot.
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MEXICO CITY/WASHINGTON (Reuters) -The governors of the Inter-American Development Bank (IDB) on Monday voted to fire Mauricio Claver-Carone, the bank said, after an investigation showed that the only American president in the bank’s 62-year history had an intimate relationship with a subordinate. The bank's 14 directors had voted unanimously on Thursday to recommend the board remove Claver-Carone after an independent ethics investigation found evidence he had engaged in a prior intimate relationship with a senior staffer and it may have continued while they were at the bank. The bank in a statement said Claver-Carone would leave the bank effective immediately, and his deputy, Reina Irene Mejia, already the highest-ranking female leader in the bank's history, would become acting president until a new leader was elected.
Canada's main stock index fell on Monday to its lowest level in 18 months, including declines for resource shares and for shares of one of the country's major banks, as investors worried about the economic impact of aggressive central bank tightening. The Toronto Stock Exchange's S&P/TSX composite index ended down 153.94 points, or 0.8%, at 18,327.04. "The final week of the month and the quarter has picked up where last week left off, with stock markets in retreat, Treasury yields soaring and currency markets in turmoil," Colin Cieszynski, chief market strategist at SIA Wealth Management, said in a note.