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BBVA, Sabadell clash heats up ahead of takeover deadline
BBVA, Sabadell clash heats up ahead of takeover deadline
Economy
by  AFP

Tensions mounted ahead of the closing on Friday of Spanish banking giant BBVA's hostile takeover bid for smaller national rival Sabadell whose uncertain outcome will be announced on October 17. Shareholders have until Friday at 23:59 (2159 GMT) to accept or reject the offer whose outcome remains uncertain due to the large number of small Sabadell shareholders.

World economy not doing as badly as feared, IMF chief says
World economy not doing as badly as feared, IMF chief says
Economy
by  AFP

The global economy is doing better than expected, even as it faces prolonged uncertainty and underwhelming medium-term growth prospects, the head of the IMF said Wednesday. Against this backdrop, the Fund still expects global growth to remain at roughly three percent over the medium term, in line with previous forecasts -- below the 3.7 percent, on average, seen before the Covid-19 pandemic.