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Vatican warns of financial ‘ticking time bomb’ ready to explode

The Vatican has called for more regulation of markets and financial systems, saying economic crises showed they were not able to govern themselves and needed a strong injection of morality and ethics. In a major document, written by two key Holy See departments, the Vatican said profit for the sake of profit and not for the greater good was “illegitimate.” ...

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US threatens to punish Russia & Germany if they continue playing with gas

Washington has warned that proceeding with the Russian-led gas pipeline project, aimed at bringing natural gas to Germany’s northeastern Baltic coast, could result in sanctions for those involved. The US opposes the Nord Stream 2 gas pipeline and may introduce penalties on the project due to its potential to increase Russia’s “malign influence” in Europe, according to Sandra Oudkirk, US ...

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Beijing disputes reports about offering Trump $200bn trade surplus cut

China’s Foreign Ministry said on Friday that, contrary to reports, the country hasn’t offered to cut its trade surplus with the US by $ 200 billion. The ministry’s spokesman Lu Kang was cited by Reuters as saying that the claims about China’s offer to meet US President Donald Trump’s demands were not true. Some media citing US officials reported earlier ...

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PM Medvedev presents his candidates for ministerial posts to Putin

Russian Prime Minister Dmitry Medvedev has presented Vladimir Putin with a list of people he wishes to appoint as ministers in the new government created after the recent inauguration of the president. President Putin signed a decree detailing the new government structure last Tuesday. The new cabinet has 22 ministerial posts instead of 21, as the Ministry of Education and ...

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Europe moves to protect its firms working in Iran from US sanctions

The European Commission has officially adopted measures to protect its companies working in Iran if the US reimposes sanctions against Tehran. The EU will remain committed to the Iran nuclear deal, the Commission said on Friday. “In Sofia, we saw a show of European unity. As long as the Iranians respect their commitments, the EU will of course stick to ...

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Oil tops $80 for first time since 2014 amid Iran export fears

Crude oil has surged to its highest value in three-and-a-half years with investors concerned about supplies from Iran, which is facing the re-imposition of sanctions from the United States. Read more Brent was trading around the $ 80 per barrel, while the US WTI jumped above $ 72. Thursday’s jump came after the publication of the Goldman Sachs report, which ...

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Tesla may need $10 billion by 2020 to survive – Goldman

The electric car maker Tesla may be in need of an additional $ 10 billion in the next two years for auto-making and expansion plans to China, Goldman Sachs said in a note. The options to get the funding are new bonds, convertible notes or equity, but each of them has possible drawbacks, the bank says. Read more “We see ...

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‘Irreparable harm’: Google bemoans India’s attack on its ‘dominant position’

Google has lashed out against a $ 20 million fine it was slapped with by India’s antitrust watchdog, saying that the pressure and restriction may cause “irreparable” harm to the way the company conducts business in the country. The tech giant slammed the verdict, claiming that it requires the firm “to change the way it conducts business in India on a ...

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High ambitions: China launches first commercial space rocket

Space startup OneSpace said it launched a 9-meter-tall OS-X rocket, becoming the first Chinese private firm to launch its own craft into space. The launch is seen as a crucial milestone for the nation’s commercial space delivery. The mission is reportedly aimed at collecting data for the research project OneSpace and is jointly being developed with the state-run Aviation Industry ...

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EU will use 'blocking statute' to protect its firms from US sanctions for operating in Iran

The European Union will activate legislation banning the bloc’s companies from complying with US sanctions against Iran as soon as Friday, according to European Commission President Jean-Claude Juncker. The law also does not recognize any court rulings enforcing penalties, which could be potentially introduced by the White House against European corporations doing business in the Islamic Republic. “As the European ...

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