© Reuters. FILE PHOTO: Thyssenkrupp’s logo is seen outside the elevator test tower in Rottweil, Germany, January 21, 2020. REUTERS/Michaela Rehle/File Photo

By Victoria Waldersee and Tom Käckenhoff

BERLIN (Reuters) – Thyssenkrupp (DE:)’s radical restructuring involving a string of disposals and cost cuts is about halfway complete, with the group on track for higher sales and margins in coming years, its leadership team said on Thursday on its Capital Markets Day.

The sprawling conglomerate began stripping off division after division in 2020, including a sale of its profitable elevator business for 17.2 billion euros ($19.50 billion), in an attempt to

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US defence secretary Lloyd Austin has said China’s development and test of a hypersonic weapon had increased tensions in the Indo-Pacific region and underscored why China was the top challenge for the American military.

“We know that China conducted a test of a hypersonic weapon on the 27th of July,” Austin said in his first confirmation of the test that was first reported by the Financial Times.

“We’ll continue to maintain the capabilities to defend and deter against a range of potential threats from the PRC to ourselves and our allies,” he added during a visit to Seoul.

China flew

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To preserve national financial and monetary stability alongside a path of sustainable and inclusive growth. Bank Danamon is now having a complete trade finance resolution to satisfy working capital necessity and your business small business funding. We ensure you get the solution of built-in and competitive Trade Finance that is suitable with Sharia fundaments.

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European and Asian equities rose and oil prices rebounded on Wednesday, after a punishing session in which the economic impact of the Omicron coronavirus variant and hawkish comments from the chair of the US Federal Reserve weighed on global markets.

Europe’s Stoxx 600 index rose 0.7 per cent in early dealings, after closing down 0.9 per cent in the previous session. The UK’s FTSE 100 share gauge was up 1 per cent, having closed down 0.7 per cent on Tuesday. In Asian markets, Hong Kong’s Hang Seng rose 0.8 per cent while Japan’s Topix index rose 0.4 per cent.

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