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Wires

  • LONDON, June 25- Britain will bring in new rules on Monday to crack down on funds used to finance organised crime and terrorism, requiring businesses such as banks, estate agents, accountants and payment firms to carry out more checks on money flows. "Terrorist financing and money laundering are significant threat to our national security, and we are determined to...

  • LONDON, June 25- Britain will bring in new rules on Monday to crack down on funds used to finance organized crime and terrorism, requiring businesses such as banks, estate agents, accountants and payment firms to carry out more checks on money flows. "Terrorist financing and money laundering are significant threat to our national security, and we are determined to...

  • LONDON, June 25- Britain will bring in new rules on Monday to crack down on funds used to finance organized crime and terrorism, requiring businesses such as banks, estate agents, accountants and payment firms to carry out more checks on money flows. "Terrorist financing and money laundering are significant threat to our national security, and we are determined to...

  • LONDON, June 25- Britain will bring in new rules on Monday to crack down on funds used to finance organised crime and terrorism, requiring businesses such as banks, estate agents, accountants and payment firms to carry out more checks on money flows. "Terrorist financing and money laundering are significant threat to our national security, and we are determined to...

  • TIRANA, June 25- Albanians were voting in a parliamentary election on Sunday with the ruling Socialists and rival Democrats seeking a majority to push through judicial reforms vital for membership of the European Union. The race pits Socialist Prime Minister Edi Rama against the centre-right Democratic Party of Lulzim Basha. Polls opened at 7 a.m. on what is...

  • DETROIT— Japanese air bag maker Takata Corp. is expected to file for bankruptcy protection in Japan and the U.S. on Monday, having been dragged into financial trouble by millions of faulty air bag inflators that can kill or injure people. Takata's assets are expected to be sold for $1.6 billion to a rival company, Key Safety Systems, and part of Takata will remain...

  • DETROIT— Drowning in a sea of lawsuits and recall costs, Japanese air bag maker Takata Corp. is expected to seek bankruptcy protection in Tokyo and the United States early Monday. Rival Key Safety Systems, based in suburban Detroit, will buy most of Takata's assets for $1.6 billion and take over its manufacturing operations to make seat belts, air bags and other...

  • WASHINGTON— Why are Republicans struggling mightily to reach a consensus on how to overhaul the nation's tax system? The GOP is supposed to be really good at cutting taxes. After weeks of private negotiations, the White House and congressional Republicans still don't agree on exactly what they want to accomplish.

  • ROME, June 25- People in more than 100 Italian towns and cities voted on Sunday to pick municipal mayors in a run-off ballot that could bolster centre-right parties ahead of a national election due in less than a year. Anti-European sentiment has increased in the country in the past few years, fuelled by EU-imposed austerity policies and the waves of migrants...

  • ROME, June 25- People in more than 100 Italian towns and cities voted on Sunday to pick municipal mayors in a run-off ballot that could bolster center-right parties ahead of a national election due in less than a year. Anti-European sentiment has increased in the country in the past few years, fueled by EU-imposed austerity policies and the waves of migrants...

  • LONDON— Britain's government is urging local officials across the country to submit samples of tower block cladding "as a matter of urgency" after tests found that all cladding samples so far have failed fire safety tests. The national testing was ordered after a June 14 fire engulfed Grenfell Tower in London, killing at least 79 people. Officials at Camden...

  • FRANKFURT, Germany— The global economy has picked up and prospects for the next few months are the best in a long time. But the recovery is maturing and faces risks from populist rejection of free trade and from high debt that could burden consumers and companies as interest rates rise. Those were key takeaways from a review of the global economy released Sunday by...

  • INFLATION IS NOT REPRESENTING HOW MAJOR ECONOMIES ARE RUNNING -BIS.

  • *Central banks should begin process of normalisation- BIS. LONDON, June 25- Major central banks should press ahead with interest rate increases, the Bank for International Settlements said on Sunday, while recognising that some turbulence in financial markets will have to be negotiated along the way. "Since we are now emerging from a very long period of very...

  • LONDON, June 25- Although a better economy is helping global banks to turn the corner a decade after the financial crisis began, euro zone lenders remain a dampener on the sector's recovery, the Bank for International Settlements said on Sunday. Euro zone authorities had to intervene in struggling Spanish bank Banco Popular earlier this month, and face pressure...

  • UNWINDING OF QE PROGRAMMES AND LOW RATES WILL BECOME MORE DIFFICULT IF LEFT TOO LATE- BIS.

  • SHORT-TERM MARKET TURBULENCE INEVITABLE, SAYS BIS.

  • BANK FOR INTERNATIONAL SETTLEMENTS SAYS CENTRAL BANKS SHOULD BEGIN PROCESS OF NORMALISATION.

  • INFLATION IS NOT REPRESENTING HOW MAJOR ECONOMIES ARE RUNNING -BIS.

  • BIS POSTS FULL-YEAR NET PROFIT OF $1.124 BLN; BALANCE SHEET TOTALS $329 BLN.