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Crude price slips as Delta variant spread weighs

Crude oil prices slipped on Wednesday as the spread of the coronavirus Delta variant in top consuming countries outweighed Mideast geopolitical tensions and a fall in US inventories, reports Reuters.Brent crude oil futures were down 26 cents, or 0.4 per cent, to $72.15 a barrel by 1031 GMT on the...

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Airbus production plans expose strategy rift with engine makers

A rift between Airbus and engine makers over plans for higher jet output blotted strong aerospace earnings this week, with worries over the supply chain's industrial capacity masking a deeper tug of war over contrasting business strategies, reports Reuters.With travel demand snapping back in key US and Chinese markets, Airbus...

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Gold firms on subdued $

Gold prices ticked higher on Wednesday on a flat dollar, although gains were kept in check ahead of the US jobs data which is seen as pivotal to the Federal Reserve's monetary policy strategy, reports Reuters.Spot gold rose 0.2 per cent to $1,812.66 per ounce by 0834 GMT on the...

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Investors call for urgent action by steelmakers on carbon emissions

LONDON, Aug 4 (Reuters): Steelmakers need to take urgent action on producing less carbon in order to meet the Paris Agreement on climate change, investors managing $55 trillion in assets said on Wednesday.Emissions from steel production account for 9.0 per cent of the global total and must fall 29 per...

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IMF approves $2.8b in fresh funds for Pakistan

The International Monetary Fund (IMF) has approved allocation of new funds for its member countries, including Pakistan, to help them combat the challenges arising from the Covid-19 pandemic and put the global economy on a sustainable growth path, reports The Express Tribune.Under the new allocations, Pakistan is estimated to receive...

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US bread, donut makers urge Biden to roll back biofuel requirements

A trade group representing some of America's biggest baked goods companies is urging the Biden administration to ratchet back its biofuel ambitions, arguing that using fuel made from crops could raise the cost of donuts, bread and other foods, reports Reuters.The complaints mark an unusual entrance by the food industry...

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