Milken pardon follows long campaign to rehabilitate image

Milken pardon follows long campaign to rehabilitate image

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When President Trump pardoned Michael Milken on Tuesday, it came just a week after the former junk bond king’s Milken Institute had wrapped up its latest conference in Abu Dhabi. The gathering featured a mix of high-powered leaders, including hedge-fund guru Ray Dalio to former Republican House Speaker Paul Ryan, but it wasn’t just about […]

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Alphabet shuts power kites moonshot project

Alphabet shuts power kites moonshot project

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Google-parent Alphabet is shutting down its power-generating kites company Makani, the first closure of a so-called moonshot project since founders Larry Page and Sergey Brin stepped back from management in December. Sundar Pichai, who took over as Alphabet chief executive, is under pressure to stem losses from the company’s “Other Bets” segment, which includes endeavours […]

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Newman 'awake, speaking' day after Daytona crash By Reuters

Newman ‘awake, speaking’ day after Daytona crash By Reuters

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Ryan Newman was “awake and speaking with family and doctors” a day after his harrowing final-lap crash in Monday’s Daytona 500. His team, Roush Fenway Racing, announced the update on Newman’s condition on Tuesday afternoon, adding: “Ryan and his family have expressed their appreciation for the concern and heartfelt messages from across the country. They […]

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US imposes sanctions on Rosneft subsidiary over Venezuelan oil

US imposes sanctions on Rosneft subsidiary over Venezuelan oil

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The Trump administration has imposed sanctions on the trading arm of Rosneft, Russia’s state oil champion, for transporting Venezuelan crude in violation of US sanctions, ramping up its pressure campaign to oust Venezuela’s President Nicolás Maduro from power. “As the primary broker of global deals for the sale and transport of Venezuela’s crude oil, Rosneft […]

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HSBC net profit falls 53%, bank to sell assets in overhaul

HSBC net profit falls 53%, bank to sell assets in overhaul

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Europe’s biggest bank has reported that its net profit fell 53% in 2019 to $6 billion. London-based HSBC, whose profit is mainly from Asia, said Tuesday that it plans to revamp its U.S. and European business and shed $100 billion in assets to improve its profitability. The bank said the virus outbreak that began in […]

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