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European investors managing assets worth more than 1 trillion pounds ($1.28 trillion) are pressing top auditors to take urgent action on climate-related risks, warning that failure to do so could do more damage than the financial crisis. Press Release Distribution Service

Oil prices fell for a second consecutive day on Thursday after U.S. President Donald Trump signed into law a bill backing protesters in Hong Kong, fuelling tensions with China. Press Release Distribution Service

Louis Dreyfus Company is making sweeping cost cuts, starting with travel, entertainment, hiring and salaries, as the 168-year-old agricultural commodities firm tries to revive dwindling profits. Press Release Distribution Service

Louis Dreyfus Co (LDC) has launched a sweeping cost-cutting plan in the latest attempt to revive profits at the 168-year-old family-owned firm, one of the world’s largest agricultural commodity merchants. Press Release Distribution Service

Italian fashion house Roberto Cavalli was bought on Thursday by Hussain Sajwani, the chairman of Dubai’s Damac Properties , the companies said, ending a long sale process. Press Release Distribution Service

Swiss drugmaker Novartis’s new $90 million cell and gene therapy factory in northern Switzerland is on track to begin commercial production of treatments, including Kymriah for cancer and Zolgensma for spinal muscular atrophy, in 2020. Press Release Distribution Service

Luxury brands are likely to retreat from Hong Kong as the city is wracked by protests at a time when wealthy Chinese shoppers are staying on the mainland, consultancy Bain said on Thursday, highlighting a shift that is reshaping the global industry. Press Release Distribution Service

U.S. online retail giant Amazon is not liable for unwittingly stocking trade mark infringing goods for third-party sellers, but should be diligent in checking whether products are legal, an adviser to Europe’s top court said on Thursday. Press Release Distribution Service

India plans to cap the commissions app-based taxi aggregators such as Uber and home-grown Ola earn on rides to a maximum 10% of the total fare, according to a draft proposal seen by Reuters, a move industry experts warned would hit revenue and operations. Press Release Distribution Service

Axel Springer’s price-comparison shopping service Idealo and 40 other European peers have accused Alphabet Inc’s Google of tilting the playing field in its favor and urged EU antitrust regulators to enforce a ruling against the company. Press Release Distribution Service

The retail portion of Saudi Aramco’s initial public offering (IPO) has been oversubscribed, with orders reaching 38.1 billion Saudi riyals ($10.2 billion), lead manager Samba Capital said on Thursday. Press Release Distribution Service

Barclays is planning to cut the 396,000 pounds ($508,068) pension allowance it pays Chief Executive Jes Staley by around half, echoing moves by rivals who have pledged to rein in executive pension perks following a campaign by investors. Press Release Distribution Service

A four-day rally that had lifted world stocks to near-record highs stalled on Thursday after China said it would retaliate for U.S. legislation backing Hong Kong’s protesters, leaving investors concerned as to the extent of the Chinese response. Press Release Distribution Service

European Union lawmakers approved an increase in U.S. beef imports to the EU on Thursday, a move likely to ease transatlantic tensions. Press Release Distribution Service

China on Thursday reiterated its pledge to further widen market access for foreign capital and lower non-tariff trade barriers, as it aims to boost flagging trade amid a slowing economy and a trade war with the United States. Press Release Distribution Service

Danish shipping group Maersk said on Thursday it would lay off staff at its main offices in Denmark and in other countries. Press Release Distribution Service

Panasonic Corp said it would sell its loss-making semiconductor unit to Taiwan’s Nuvoton Technology Corp for $250 million as the Japanese electronics giant struggles to lift its profit amid a lack of growth drivers. Press Release Distribution Service

Cabin crew union UFO on Thursday said that wage talks it held with Lufthansa ended without results, adding that it would now prepare for industrial action at the German carrier. Press Release Distribution Service