Author Archives: Editor - Business News

Yukos’ $50 Billion Arbitration Victory Against Russia

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Yukos Majority Shareholders Hit a $50 Billion Gusher

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Shearman’s Winning Yukos Strategy

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Drought hits China food production: Xinhua

BEIJING (Reuters) – Severe drought and scorching heat has damaged over a million hectares of farmland in China’s Henan and Inner Mongolia provinces, with no immediate relief in sight, state news agency Xinhua reported. Henan in central China is experiencing … Continue reading

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Commerzbank to cut over 450 more jobs in savings plan: sources

FRANKFURT (Reuters) – Commerzbank, Germany’s second-biggest bank, is widening the scope of its savings program and plans to shed more than 450 jobs on top of an ongoing restructuring plan, three people familiar with the matter said. At a staff … Continue reading

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GM’s Korean unit reaches tentative wage deal to avert strike

SEOUL (Reuters) – General Motors’ South Korean unit reached a tentative wage deal with its labor union on Monday to stave off a potential strike at one of its key Asian production bases, a source who has direct knowledge of … Continue reading

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Nissan first-quarter profit rises, exceeds consensus as U.S. sales improve

YOKOHAMA Japan (Reuters) – Nissan Motor Co posted a 13.4 percent rise in April-June operating profit from a year earlier as Japan’s second-biggest car maker saw improved sales in the United States after it changed senior management overseeing operations there. … Continue reading

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Merck aims to hike revenues in China to 1 billion euro by 2018

FRANKFURT (Reuters) – Merck (MRCG.DE) will start offering non-prescription drugs in China as part of a push to double revenues in the region to 1 billion euros ($1.3 billion) by 2018, Chief Executive Karl-Ludwig Kley told German weekly Wirtschaftswoche. Merck … Continue reading

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Investors pin growth hopes on U.S. as Ukraine crisis casts shadow on Europe

FRANKFURT (Reuters) – With the prospect of stiffer sanctions against Russia rattling confidence in Europe, investors will be looking to the United States and China to underpin the global economy. Wednesday’s U.S. gross domestic product (GDP) reading and jobs data … Continue reading

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Audi cuts spare-part prices in China amid anti-monopoly probe

SHANGHAI/BEIJING (Reuters) – Volkswagen AG’s premium brand Audi said it would cut spare-part prices in China as global automakers rush to change their pricing strategies after Chinese anti-monopoly regulators began probing the auto industry. The National Development and Reform Commission … Continue reading

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