Midday Dispatch – Financial and Corporate News

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George Osborne would like to fill the vacancy as head of the IMF, telling friends that he is perhaps best placed to win support from Europe, the US and China. Financial Times

The Malta Business weekly reveals that gaming licences of 12 companies were revoked or suspended by the Malta Gaming Authority in 2018. New laws published in August gave greater enforcement and compliance powers to the MGA.

Britain’s economy appears to have suffered its first quarterly contraction in almost seven years, after a slump in company activity during June. The Guardian

Europe’s leading online fashion retailer Zalando, said it would build a 140,000 square meter warehouse near the Dutch port of Rotterdam to serve its customers in the Benelux countries, France, Spain and the United Kingdom. Reuters

Oil futures ended higher Wednesday after posting a roughly two-week low a day earlier, as U.S. government data showed domestic crude supplies fell a third straight week, but by a lot less than the market expected.Market Watch

The Malta Business weekly announces that Ryanair has registered six aircraft under its new Malta-based subsidiary Malta Air. The company revealed plans to build repair facilities in Malta for the general maintenance of its fleet

The Hong Kong dollar strengthened to a more than two-year high on Thursday as interbank borrowing costs hovered near their highest level in a decade. Financial Times

South Korea’s economic policy chief said on Thursday he would not rule out direct countermeasures against Japan if Tokyo keeps restrictions on exports of high-tech materials to South Korean companies for a long time. Reuters

Italy registered the lowest number of births on record last year, as well as the highest ever number of emigrants — two demographic trends that are weighing on the country’s weak growth prospects and fragile public finances. Financial Times

The British National Trust is divesting its £1bn portfolio from fossil fuels in an attempt to help tackle the escalating climate crisis. The Guardian

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