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After storming higher yesterday the pound euro exchange rate is holding steady at €1.105 as doubts return to the Brexit forum, despite Prime Minister Boris Johnson’s unexpectedly successful visit to Europe. Although French President Emmanuel Macron was initially forthcoming in his proposals for a possible EU compromise over the Irish backstop, he then countered his
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The pound euro exchange rate edged to €1.094 this morning on speculation that the European Central Bank’s planned stimulus package will be bigger than initially expected. Olli Rehn, a member of the ECB’s rate-setting committee, said: “When you’re working with financial markets, it’s often better to overshoot than undershoot, and better to have a very
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Alibaba announced its earnings today, and the Chinese ecommerce giant got a nice lift from its cloud business, which grew 66 percent to more than $ 1.1 billion, or a run rate surpassing $ 4 billion. It’s not exactly on par with Amazon, which reported cloud revenue of $ 8.381 billion last quarter, more than double
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