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Consumer Reports wants Toyota to recall older Camry hybrids

DETROIT (Reuters) – An influential consumer magazine on Monday called on Toyota Motor Corp to recall about 177,500 older Camry hybrid sedans to address potential power brake defects. Consumer Reports, which many consumers use when studying what vehicles to buy, … Continue reading

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China brands beat global rivals with tea toothpaste & pickled plums

SHANGHAI/HONG KONG (Reuters) – With green-tea flavored toothpaste and pickled plum juice, an army of Chinese retailers is tapping local tastes to whittle away market share from global rivals that are banking their future growth on the world’s second-largest consumer … Continue reading

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Argentina to hold last-gasp debt talks with mediator Tuesday

BUENOS AIRES/NEW YORK (Reuters) – Argentina will on Tuesday meet the U.S. mediator in its battle with ‘holdout’ debt investors suing the country for last-minute talks to avert a second default this century, but hopes for a deal are fading … Continue reading

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Exclusive: Goldman moves executive to new role building ETFs

NEW YORK (Reuters) – Goldman Sachs Group Inc (GS.N) has moved an executive from its trading division to its investment-management division to launch a business that will sponsor exchange-traded funds and sell them to retail clients through third parties, according … Continue reading

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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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