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The lack of clarity surrounding the U.S.-China trade war is what's really hitting global growth, says ex- Deputy Treasury Secretary Sarah Bloom Raskin.World Economyread more
China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.China Economyread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
New crash tests show the Tesla Model 3 and the Audi e-tron, are among the safest models out on the road. The results bolster the theory electric vehicles may be better...Autosread more
U.S. consumers and growth in sectors such as technology have offset declines in other American industries, says Tom Finke, chairman and CEO of investment management firm...US Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
Last weekend's attacks on oil facilities — and the spike in crude prices that followed — should show that the world needs to stop relying on oil, says Helen Clark.Energyread more
The photo depicts Canadian leader Justin Trudeau wearing a turban and robe, with dark makeup on his hands, face and neck. Liberal Party spokesman confirms the photo is of...Electionsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
European shares closed higher on Wednesday, having trimmed gains as investors awaited Federal Reserve Chairman Ben Bernanke's news conference after the central bank's monetary policy meeting.
The pan-European FTSEurofirst 300 provisionally closed up 0.4 percent at 1,257.0 points. It trimmed gains after Wall Street opened mixed, with investors hesitant about a potential announcement by Bernanke about the tapering of the Fed's stimulus program. Investors expect the central bank to scale back monthly asset purchases by $10-15 billion, while keeping interest rates close to zero for some time.
Shares of Spanish clothes retailer Inditex, which owns Zara, closed around 0.8 percent higher after the group posted a 1 percent rise in first-half profit to 951 million euros ($1.3 billion), year-on-year, beating expectations.
The group announced a 2 percent rise in full-year revenue to £3.1 billion, with operating profit up 1 percent at £560 million. The group also declared a special dividend and announced restructuring measures.
Philip Bowman, chief executive of Smiths Group, told CNBC that he was satisfied with the results, in light of tough economic conditions.
"We're much better positioned today given the fact we live in the reality of a much slower growth world economy than we had six or seven years ago, and we're better prepared to respond to that. So overall, I'm comfortable with the way we're going. We did have some difficult headwinds last year…so against [those] the results have been resilient."
The group also said that it would continue to raise its investment in sales, marketing and new product development.
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