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Stocks open lower, retail shares slump

U.S. stocks opened lower as several major retailers reported disappointing results coming out of the holiday season and weak producer and consumer price data from China reaffirmed weakened growth amid an ongoing trade war. The S&P 500 (^GSPC) fell 0.63%, or 16.17 points, as of 9:34 a.m. ET....
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Kotak Mahindra General Insurance, Repco Home Finance ink pact

Chennai: Private sector Kotak Mahindra General Insurance Wednesday said it has signed an agreement with Repco Home Finance to deliver its insurance products. As per the agreement, Repco Home Finance will represent Kotak General Insurance as a ‘corporate agent’ and would retail the latter’s general and health insurance products...
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Irving subprime auto lender Exeter Finance prepares to go public

Exeter Finance Corp., an Irving-based auto lender that specializes in subprime loans, is filing to become a publicly traded company. Exeter, backed by private equity giant Blackstone Group, plans to list as XTF on the New York Stock Exchange, according to a regulatory filing this week with the U.S. Securities and...
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Strengthening SME financing in India

Mumbai: From kirana stores to local businesses, small enterprises are central to India’s economy. According to the ministry of micro, small and medium enterprises, these firms contribute about 30% to India’s economic output and provide employment to over 111 million people. But despite this importance, India’s small firms are starved...
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Terror finance unit only has two staff

The Terrorist Financing Intelligence Unit receives around 880 suspicious transaction reports (STRs) with potential links to international terrorism on average per year. The unit sends about 95 reports every year to Garda Security and Intelligence (S&I) for investigation. The finance unit is tasked with examining referrals regarding financial transactions...
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