Sunday, November 30, 2014

BG Group Reduces Helge Lund Pay Package

Energy company BG Group has reduced the remuneration package for its incoming Chief Executive Helge Lund in response to shareholder concerns.



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GCL-Poly Energy to Sell Factories

Solar-equipment maker GCL-Poly Energy is selling its core business to two buyers—one of which is controlled by its chairman—for $1.3 billion as it tries to get out from under heavy debt.



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Holcim Receives Final Payment From Venezuela

Holcim said it has received a final payment of roughly $100 million from Venezuela, completing compensation tied to the nationalization of its cement operations in the South American country.



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'Strange Bedfellows' Conceive Boutique-Hotel Chain Edition

The Edition chain of boutique hotels, a collaboration between industry odd couple Marriott and hotel impresario Ian Schrager appears to be on a roll despite the partners’ differences.



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Bitcoin Recruits Snap To Attention

A boot-camp-like program to help startups get started is increasingly focused on bitcoin, helping entrepreneurs focused on the virtual currency develop business plans and connect with potential investors.



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Why Supreme Court Cases Are Marathons

Cases before the Supreme Court sometimes can be highly dramatic or painfully dreary, but many of them share one central quality: endurance.



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U.S. Unlikely to Slash Oil Output

New pressure from OPEC will cause a lot of pain for U.S. energy companies, but they probably won’t slash American oil output anytime soon.



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Russian Firms Hire Lobbyists to Fight Senate Sanctions

An energy company partly owned by a friend of President Putin has spent at least $280,000 in part to oppose a Senate bill that seeks to broaden U.S. economic sanctions against Russia for invading Ukraine.



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Top Samsung Executives Remain

Samsung announced annual management changes at its business units on Monday but said top executives at its flagship unit Samsung Electronics Co. will remain in their current positions as the company seeks to reverse recent profit declines.



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It's Showtime for Auto Sales

Auto makers could report their highest November U.S. sales in more than a decade after new-car shoppers feasted on early Black Friday promotions.



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China's Slowdown Hits Price of Iron Ore

The Outlook: Exporting nations are feeling the hit as the China-fueled commodities boom slows. Sluggish demand and falling commodity prices are reducing government tax revenue, increasing trade deficits and affecting currency values.



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E.ON SE to Split Into 2 Companies

German utility E.ON SE said late Sunday it will split off into two companies, with one to focus on renewables and the new one on conventional energy.



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Altice SA Reaches Deal With Oi SA to Buy PT Portugal

Altice SA has reached a deal with Brazil’s Oi SA to buy PT Portugal for €7.4 billion, according to a person familiar with the matter.



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Freeport-McMoRan Nears Settlement of Shareholder Lawsuit

Freeport-McMoRan is nearing a settlement to resolve allegations its board and executives had conflicts of interest while negotiating the natural-resource company’s purchase of two affiliates last year.



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Lufthansa Pilots to Strike Monday, Tuesday

Pilots at Germany’s flagship carrier Lufthansa announced a fresh round of strikes for Monday and Tuesday to resist the airline’s efforts to cut retirement benefits, the pilots union said.



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TPG Sells Stake in China Grand

TPG Capital is selling its stake in China Grand Automotive Services Co., the country’s largest auto dealer by sales, for nearly $700 million to an investor group led by China’s Haitong International Securities Group Ltd.



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Holiday Weekend Sales Fell 11%

Retail spending over the Thanksgiving weekend fell 11%, according to the National Retail Federation, in part because promotions began well ahead of the holiday.



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'Penguins' Trail 'Hunger Games' at the Box Office

‘Penguins of Madagascar,’ the latest release from DreamWorks Animation, grossed an estimated $36 million over the five-day holiday weekend, landing in second place behind ‘Hunger Games.’



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Deutsche Bahn to Claim Damages Over Air-Cargo Cartel

The cargo unit of German state railway Deutsche Bahn is claiming damages of potentially more than $3 billion from 13 airlines for colluding to inflate air-freight fees, senior Deutsche Bahn executives said.



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Saturday, November 29, 2014

Lufthansa Pilots Warn of Strikes

Pilots at Deutsche Lufthansa AG late Friday said fresh strikes were impending after the most recent round of talks between the airline and its pilots over retirement benefits broke down.



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Friday, November 28, 2014

Savings Rate Portends Healthy Holiday Spending

Amid jitters over whether holiday shoppers can give the economy a year-end lift, here’s an unexpected cause for optimism: Americans aren’t feeling the need to save as much.



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Hollywood Jobs Bounce Back

Entertainment jobs in Los Angeles County have rebounded, but local feature-film production remains almost a third below the 10-year peak it reached in 2005.



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Florida's Hurricane Dry Spell Lasts

As storm season comes to an end with Florida enjoying its modern-day record ninth consecutive season without a hurricane making landfall, many residents of the Sunshine State may not want to breathe easy just yet. Call it the calm before the potential storm.



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Greek Port Gets Shipshape With China's Help

China Overseas Shipping Group’s investment in the port of Piraeus outside of Athens ranks as one of the most successful Greek privatizations in recent decades.



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Wal-Mart and Target Take Fight to Amazon

Wal-Mart and Target are becoming more aggressive in pricing and selling goods on the Web after losing ground in past years to online competitors like Amazon over Thanksgiving weekend.



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U.S. Officials Chase Fake Goods Online

ICE and U.S. Customs agents are trying to crackdown on counterfeit goods, but that trade has moved online where goods are shipped directly to consumers.



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Momo Expects $256.6 Million From IPO

The Chinese maker of social-media dating and chat mobile apps, Momo Inc., expects to raise $256.6 million from a planned stock offering, the company said in a regulatory filing.



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Energy Shakes as OPEC Stands Pat

OPEC’s decision to keep the oil spigots fully open dimmed the outlook for U.S. energy companies, slamming shares of domestic crude producers and upending capital-expenditure budgets for next year.



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U.S. Airlines Recovered from Wednesday's Nor'easter

After canceling more than 750 flights on Wednesday, a busy travel day before the Thanksgiving holiday, due to snow, rain and winds across the East Coast, airlines were operating close to normal on Friday.



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Airbus Trims Dassault Aviation Stake

Airbus said it sold $990 million worth of shares in French defense and private jet manufacturer Dassault Aviation back to the company and has plans to further decrease its stake by mid-2015.



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Bertelsmann CFO Hartmann to Step Down Jan. 31

Bertelsmann SE & Co Friday announced that Chief Financial Officer Judith Hartmann is leaving the company.



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Black Friday Shopping Becomes a Marathon

As tough competition leads retailers to open earlier on Thanksgiving Day, consumers are evolving in kind with the rise of the marathon Black Friday shopper.



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U.S. Regulators Demand Chrysler Expand Air-Bag Recall

U.S. auto-safety regulators are demanding Chrysler Group expand its recall of potentially defective Takata Corp. air bags nationwide and begin notifying customers of the new campaign by Monday.



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GoPro Developing Consumer Drones

GoPro is developing its own line of consumer drones to expand from its core business of making wearable video cameras popular with surfers and other sports enthusiasts.



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Twitter Co-Founder Sells Some Shares

One of Twitter’s founders has sold some of his stock in the social-media company for the first time, shedding about 1.2% of his nearly 9.5% stake.



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BG Group Boss's Share Package Questioned

British shareholder-advisory group PIRC has recommended that BG Group PLC investors reject a controversial share award company’s incoming chief executive, in one of the biggest revolts against executive pay in the U.K. in recent years.



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French Court Verdict on Uber Ban in Two Weeks

Car-hailing service Uber Technologies Inc. argued that a new French law governing car-service apps is unconstitutional; an effort to block an emergency lawsuit that could end up banning one of the company’s main services in France.



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Petronas to Review Spending

Malaysia’s national oil-and-gas company Petronas said it is reviewing its spending plans for next year after reporting a 14% decline in third-quarter net profit on falling crude prices, even as it increased output.



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Malaysian Airline System Loss Widens

Malaysian Airline System Bhd., parent of flag carrier Malaysia Airlines, swings to a wider net loss in third quarter as it prepares to be privatized after losing two aircraft this year, leaving 537 people either dead or missing



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EU Approves Medtronic's Merger With Covidien

Medical-device maker Medtronic secured European Union approval for its $43 billion merger with rival Covidien of Ireland, subject to conditions, two days after U.S. authorities cleared the deal.



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Rio Tinto, BHP Chart Divergent Courses

As BHP Billiton executives work on plans to slim down their business, their counterparts at Rio Tinto are taking a different tack.



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Novartis Heart-Failure Treatment to Get Speedy EU Review

Novartis said an important new drug for treating heart failure has been granted an accelerated review by European authorities, improving its chances of approval in Europe next year.



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Eurozone Sees Further Rise in Jobless, Fall in Inflation

The number of people without jobs in the eurozone rose for the second straight month in October, while the annual rate of inflation fell further below the European Central Bank’s target in November, increasing the likelihood policy makers will soon take more aggressive stimulus measures.



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Thursday, November 27, 2014

New Entrepreneurs Find Pain in Spain

Europe’s unemployment crisis has compelled hundreds of thousands of people to try to reinvent themselves as entrepreneurs. But these inexperienced business operators are flying into harsh headwinds.



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Are Americans Ready to Spend Yet?

The U.S. economy has grown strongly since stumbling at the beginning of the year. The holiday shopping season will help determine if 2014 ends with a bang.



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British Airways' Parent Saves on Plumbing

Tired of flushing money away, British Airways parent IAG has sought to cut costs in unusual places, like its lavatories.



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Cox Communications Sued by Music Publishers

Two music publishers are suing Cox Communications, saying the cable company is deliberately turning a blind eye to illegal downloading by its broadband subscribers.



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Firm Makes Water-Jet Bet

American Industrial Partners bets it can transform ’water-jet technology,’ which slices through glass, metal and granite, into a bigger and faster-growing business.



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EPA Proposes Stricter Ozone Standard

The EPA proposed lower limits for ground-level ozone, or smog, in the atmosphere, setting in motion the latest in a series of far-reaching federal pollution restrictions.



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Rio Tinto Committed to Higher Investor Returns

Rio Tinto PLC said it was committed to giving significantly more money back to shareholders in 2015 despite a sharp slide in iron-ore prices.



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Outbrain Files for Possible Nasdaq Listing

Outbrain, a pioneer in native advertising—ads that are meant to be more integrated into a website—filed confidentially earlier this month for preliminary approval to list on the Nasdaq Stock Market.



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Macquarie Group, Kuwait's Sovereign-Wealth Fund to Buy E.On's Spanish Assets

German power utility E.ON has agreed to sell its Spanish assets to Australia’s Macquarie Group and Kuwait’s sovereign-wealth fund in a deal worth $3.1 billion.



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In Thailand, Firms Add Apprentices

An increasing number of companies in Thailand, including many in the auto industry, are rolling out apprenticeship programs aimed at beefing up the country’s workforce.



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Lion Air Orders 40 More ATR Planes

Lion Group, the parent of Indonesian discount carrier Lion Air, placed a US$1 billion order with European aircraft maker ATR for 40 additional planes.



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France, Germany Seek New Internet Powers

French and German officials called on EU officials to take a fresh look at the competitive and tax behaviors of big U.S. Internet companies in a push for greater regulation.



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EU Poised to Approve Lower-Cost Rockets

European politicians are poised to approve a new generation of lower-cost rockets, partly in response to competition from U.S. launch providers, government and aerospace-industry officials on both sides of the Atlantic say.



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Honda, Takata Recalls Began as Early as 2002

Honda recalled a batch of Accord passenger cars in 2002 for Takata Corp. air bags at risk of rupturing, well before the company has said it first learned of injuries.



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European Parliament Approves Google Breakup Resolution

The European Parliament overwhelmingly approved a resolution that calls for a possible breakup of Google Inc., brushing aside last-minute objections from the U.S. Congress that the move risked politicizing an antitrust investigation.



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Carlos Slim to Invest Up To $875.4 Million in Spain's FCC

Two companies owned by Mexican billionaire Carlos Slim will invest up to 700 million euros ($875.4 million) in FCC in exchange for 25.6% of the debt-laden Spanish builder.



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Oil Prices Fall as Opec Meets

Oil prices fell to four-year lows as the outcome of a crucial OPEC meeting remained unclear.



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Coca-Cola, SABMiller Strike New Africa Deal

Coca-Cola and SABMiller have struck a new multimillion-dollar brand and bottling deal as the companies, two of the world’s biggest drinks makers, eye a bigger share of the African beverage market.



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Wednesday, November 26, 2014

Latest Takata Air-Bag Rupture Took Place in a Toyota

Toyota Motor Corp. says the recent case of a Takata Corp.-made air bag inflater exploding in Japan happened in a Toyota vehicle.



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Rémy Cointreau Profit Hurt by China

Rémy Cointreau said net profit fell 25% in the first half of its financial year as the French drinks maker continues to battle a slump in demand from Chinese consumers.



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Wal-Mart Makes Cuts in China

Wal-Mart Stores Inc. is cutting nearly 30 directors and midlevel managers in China, where the retailer is pushing to contain costs and improve slumping sales.



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Avanir to Provide More Human-Factor Data for Migraine Treatment

Avanir Pharmaceuticals, which previously said the FDA had questions about “human factor” study data for a migraine treatment, said it will provide new data.



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Standard General to Trade RadioShack Shares for Board Seats

Standard General has agreed to give up some of its potential stake in a recapitalized RadioShack in exchange for four board seats, a move that could help the struggling electronics chain stave off a bankruptcy filing.



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Rio Tinto OKs Canada Diamond Mine Development

Rio Tinto PLC approved a $350 million extension at a remote subarctic diamond mine in Canada that the resources group controls with Dominion Diamond.



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Salesforce Boosts CEO's Compensation

Salesforce.com gave Chief Executive Marc Benioff a nearly 8% raise in salary and target bonus and awarded him stock options with an indicated value of roughly $33 million.



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REIT American Realty Capital Hasn't Set Date Yet for Annual Meeting

Real-estate investment trust American Realty Capital Properties Inc. said Wednesday that its board hasn’t yet determined when its annual shareholders meeting will take place.



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H-P's Revenue Drops Again

H-P said its profit fell 5.9% for the October quarter on another period of lower revenue as the computer maker continues to show the frailties that prompted its plan to split in two.



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Should Crowdfunding Sites Vet Projects?

Should Kickstarter and Indiegogo take a more active role in checking out projects on their sites before allowing the public to contribute money that may never be returned?



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King Digital Entertainment's Chairman Steps Down

King Digital Entertainment’s chairman, Melvyn Morris, has resigned from the post, effective immediately, the game developer said..



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Seadrill Halts Dividends

Oslo-listed Seadrill is suspending dividend payments to cut debt and help finance possible acquisitions amid expectations that oil field services companies will consolidate as they battle fallout from weak oil prices.



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Asian Tech Leaders Struggle to Find Successors

Many of Asia’s aging tech titans found that leaving the companies they founded or helped build is proving to be as difficult a task as building their empires.



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Petrobras Woes Scaring Away Investors

A corruption investigation involving Brazilian state-controlled energy firm Petroleo Brasileiro is now being viewed as a liability to investors.



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Africell Seeks U.S. Private Equity

The largest mobile-phone operator in Sierra Leone and Gambia is hoping to sell a stake in the company, which is valued by the owner at up to $1.5 billion.



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Appeals Court Bars Motorola Antitrust Lawsuit Against LCD Makers

A federal appeals court on Wednesday threw out antitrust claims by phone maker Motorola Mobility that sought damages from Asian electronics companies for alleged price fixing on liquid-crystal-display panels.



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Icahn Offers Loan to Trump Entertainment

Investor Carl Icahn has agreed to provide $5 million in financing to see casino operator Trump Entertainment Resorts Inc. through the coming months as it tries to emerge from bankruptcy.



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FDA Seeks More Data on Bristol-Myers Hepatitis C Therapy

Bristol-Myers Squibb said the FDA rejected its new drug application for its hepatitis C treatment in combination with other agents, pending submission of more information requested by the regulator.



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Medtronic Acquisition of Covidien Gets FTC Clearance

U. S. authorities on Wednesday approved Medtronic’s $43 billion merger with Covidien after requiring the spinoff of a drug-coated catheter business.



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Lawsuit Alleges Palladium, Platinum Prices Manipulated

Goldman Sachs, HSBC Holdings, Standard Bank Group and BASF have been accused of manipulating platinum and palladium prices in a lawsuit filed in New York by a jeweler.



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U.S. Regulators Demand Chrysler Expand Air-Bag Recall

U.S. auto-safety regulators are demanding Chrysler Group expand its recall of potentially defective Takata Corp. air bags nationwide and begin notifying customers of the new campaign by Monday.



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GoPro Developing Line of Consumer Drones

GoPro Inc. is developing its own line of consumer drones to expand from its core business of making wearable video cameras popular with surfers and other sports enthusiasts.



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Colt Warns on 2015 Bond Payment

Colt Defense said it might miss its May bond payment after last week eking out a deal that allowed the gun manufacturer to make a $10.9 million November interest payment to the bondholders.



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Deere Sees Big Decline in Equipment Sales

Deere projected a 20% decline in farm equipment sales for the recently started business year, warning again that lower commodity prices and falling farm incomes are putting pressure on demand for agricultural machinery.



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U.S. Jobless Claims Rise To 313,000

The number of Americans seeking first-time jobless benefits leapt last week but remained at a level suggesting steady job growth.



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Alibaba to Invest More in India

Alibaba Group Holding, China’s largest e-commerce company, is looking to invest more in India as it aims to expand its services beyond its home country.



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Daily Mail Profit Rises

U.K. newspaper publisher Daily Mail & General Trust’s full-year profit rose as growing advertising revenue at its popular MailOnline website helped to offset declining print revenue.



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Indian Tobacco Shares Rebound

Shares of Indian tobacco companies rebounded Wednesday after news that the country is planning to ban the sales of single cigarettes to discourage smoking in the South Asian nation triggered a tumble.



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French Shipping Major Clinches Short-Sea Deal

France’s CMA CGM SA, the world’s third-biggest container-shipping operator by capacity, has bought Germany’s OPDR in the latest move by global shipping majors to control the maximum amount of tonnage in the water.



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EU's Juncker Launches Infrastructure Investment Plan

European Commission President Jean-Claude Juncker launched a plan Wednesday aimed at enticing pension funds, insurance companies and other major investors to finance cross-border European infrastructure projects.



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Thomas Cook CEO Quits

Shares in Thomas Cook dropped over 20% as the travel company announced the surprise departure of Chief Executive Harriet Green after just two years.



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Zalando Revenue Surges

Online retailer Zalando said third-quarter revenue surged 24%, boosted by growth in non-German speaking parts of Europe and as cost improvements helped boost profitability.



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Tuesday, November 25, 2014

EE Confirms Talks With BT

U.K. mobile operator EE said it is in exploratory talks with BT Group, but cautioned that it is too early to state whether any transaction may occur.



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Tencent, HBO Sign Online Distribution Deal for China

Time Warner’s HBO signed a deal with Tencent Holdings to distribute its TV dramas and movies through the Chinese Internet giant’s online video site.



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Sony to Revamp Smartphone Unit

Sony pledged to return its money-losing smartphone unit to profitability over the next year even if it means drastically lower sales.



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Wal-Mart Top Merchant Leaves

Wal-Mart’s chief merchandising officer is leaving the retailer just days before the annual Thanksgiving shopping frenzy known as Black Friday.



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Samsung to Sell Unit Stakes

Samsung Group will sell controlling stakes in chemical and defense units for $1.7 billion as South Korea’s largest conglomerate continues restructuring moves ahead of an expected leadership succession.



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Twitter Grants Head of Product $9.5 Million in Equity

Twitter Inc. gave new product head Kevin Weil a $9.5 million welcome gift in the form of restricted stock units, according to a securities filing.



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Brazilian Drought Unleashes Flood of Sales for Some Firms

The worst drought in roughly a century is parching Brazil’s São Paulo state, the country’s economic powerhouse, but the water shortage has produced a gusher of sales for companies selling temporary relief.



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Petronas-Led Gas Project Granted Environmental Permit

British Columbia granted environmental permits to a natural gas export plant backed by Malaysia’s state-owned energy company and two pipelines.



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EPA To Propose Limit to Ozone Air Pollution Wednesday, Sources Say

The Environmental Protection Agency is planning to announce Wednesday a sweeping federal air-pollution standard limiting ground-level ozone, or smog, in the atmosphere, according to people familiar with the plan.



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Fight Over Flickr's Use of Photos

Yahoo, owner of the Flickr photo-sharing site, has upset some photographers by selling canvas prints of photos uploaded to the site and keeping all of the profits.



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Steinhoff to Buy Pepkor for $5.7 Billion

Furniture retailer Steinhoff International said it is buying a 92.34% stake in fellow South African retailer Pepkor for $5.7 billion.



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Tough Choices for United Technologies

New Chief Executive Greg Hayes is taking charge amid slowing Chinese real-estate markets, difficulties in Europe and narrowing margins.



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VW Drives for Gains in China's South

Volkswagen is taking market share from other foreign auto makers in China’s relatively wealthy southern region.



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TiVo Services, Technology Revenue at Upper End of Estimates

TiVo reported growth in services and technology revenue at the upper end of expectations as the digital video recorder pioneer continued to add subscribers.



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H-P's Revenue Drops Again

H-P said its profit fell 5.9% for the October quarter on another period of lower revenue as the computer maker continues to show the frailties that prompted its plan to split in two.



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U.S. Expresses Concern Over Google Antitrust Debate in Europe

The U.S. has waded into a European debate over a possible breakup of Google Inc., expressing concern about the politicization of antitrust investigations one day before European Union legislators are set to debate an ‘unbundling’ proposal.



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Apple Shields Information in GT Advanced Creditor Probe

Creditors of failed smartphone screen material supplier GT Advanced Technologies will get a peek at Apple Inc.’s secrets under a protective court order signed Tuesday.



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UTC CEO Abruptly Steps Down

United Technologies disclosed the sudden retirement of Chief Executive Louis Chenevert and named Chief Financial Officer Gregory Hayes as his successor.



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Did Saks Sell Itself Too Low?

Saks’ flagship store in Manhattan has been appraised at $3.7 billion, well above what Hudson’s Bay paid to acquire the luxury retailer a year ago.



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Should Crowdfunding Sites Vet Projects?

Should Kickstarter and Indiegogo take a more active role in checking out projects on their sites before allowing the public to contribute money that may never be returned?



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BT Seen With Strong Negotiating Position to Get Back Into Mobile

BT Group, looking to storm back into mobile, has a strong negotiating position, but faces potentially onerous funding arrangements, analysts say.



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France to Prosecute Total Over Iranian Contracts

Total SA will face corruption charges in a French court related to contracts made in Iran in the 1990s, a spokeswoman for the Paris prosecutor said on Tuesday.



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La Compagnie to Add NY-London Offering

Dreamjet, which started flying in July between Paris and Newark, N.J., under the brand name La Compagnie, plans to bring its aggressively priced business-class fares to the New York-London route.



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Sony to Issue Refunds to Settle FTC Deception Charges

The Federal Trade Commission said Tuesday that Sony Computer Entertainment America will issue millions of dollars in refunds to settle charges that it deceived customers during the rollout of its PlayStation Vita hand-held gaming console.



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Houghton Goes Digital to the Core

Textbook publisher Houghton Mifflin Harcourt, two years out of bankruptcy, is counting on Common Core standards to drive demand for school curriculum products with both print and digital components. A Boss Talk interview with Linda Zecher.



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Spotify's Revenue Rose in 2013

Music-streaming company Spotify said revenue grew substantially last year, but said it continued to post large losses as investment weighed on profit and it had revised down its 2012 net and operating income due to accounting changes and unspecified “errors.”



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BT Looks at Telefónica U.K. Unit

BT said it is in talks to buy Telefónica’s U.K. mobile business, O2, as the British telecom incumbent lays out its ambitions to be a fully fledged wireless operator in the U.K.’s converging telecom market.



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PC Short-Term Outlook Improves, but Caution Lingers

The outlook for worldwide personal-computer shipments improved after a better-than-expected third quarter, but caution remains, International Data Corp. said Tuesday.



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Hormel Foods Sales Rise 9.5%

Hormel Foods., one of the biggest U.S. meat processors, said sales in its key refrigerated foods and Jennie-O Turkey Store segments helped offset a slowdown in its specialty foods and grocery products segment in the fourth quarter.



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Amazon's Polish Sites Help Deflect German Strikes

The launch of distribution centers in Poland adds necessary capacity for growth in Europe and helps buffer any potential impact from strikes in Germany, online retailer Amazon.com Inc. said.



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Valspar Results Top Expectations on Higher Sales

ValsparCorp. said its sales rose in the October quarter, lifted by a strong performance in the company’s coatings segment.



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Campbell Buoyed By Simple Meals

Campbell Soup said growth in its Bolthouse Farms and Simple Meals segments helped results beat expectations in its November quarter, though the food company also logged higher promotional spending and unfavorable exchange rates.



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Signet Jewelers Sales Rise

Signet Jewelers Ltd. raised its earnings guidance as the company’s sales for the most recent quarter were again elevated by its Zale Corp. acquisition earlier this year.



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Tiffany Sales Miss Expectations on Soft Results in Asia

Tiffany & Co. said its sales rose 5.3% in the October quarter on robust growth in the Americas, its biggest market, but results missed expectations as the company’s Japan and Asia-Pacific markets delivered weaker performances.



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Home Depot Facing at Least 44 Civil Suits in Data Breach

Home Depot said Tuesday that it faces at least 44 civil lawsuits in the U.S. and Canada related to a widespread data breach the home-improvement retailer suffered earlier this year.



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New Hertz CEO to Receive $1.45 Million Salary, With Healthy Bonuses

Hertz Global Holdings’ new CEO, John P. Tague, will receive a base salary of $1.45 million, along with the opportunity to make another $3.63 million in bonus pay.



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South Africa Growth Continues to Decline

South Africa’s economy expanded less than expected in the third quarter, putting the continent’s most developed economy among other big emerging-market peers that are failing to bring about a hoped-for global recovery.



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OECD Warns on Eurozone Economy

The eurozone needs monetary stimulus and a softening of fiscal discipline to ward off the threat of persistent economic stagnation, the Organization for Economic Cooperation and Development said.



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Clarkson to Buy Norway's RS Platou

Clarkson PLC, the world’s largest shipbroker, plans to acquire Oslo-based rival RS Platou ASA for a record $440 million.



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Headland Capital Looking to Sell Korea's Young Toys

Private-equity fund Headland Capital Partners is seeking a buyer for fast-growing South Korean toy maker Young Toys, a deal that could be worth more than $250 million.



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Honda Apologizes for Underreporting on Safety

Honda’s chief executive apologizes for the company’s failure to report to U.S. regulators more than 1,700 incidents involving death or injury over the last decade, saying there were “multiple mishandlings.”



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Tencent, HBO Sign Online Distribution Deal for China

Time Warner’s HBO signed a deal with Tencent Holdings to distribute its TV dramas and movies through the Chinese Internet giant’s online video site.



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Ssangyong Launches New SUV

Ssangyong Motor Co. is launching a new car for the first time in four years, as the South Korean car maker seeks to strengthen its foothold in the country’s thriving sport utility-vehicle market.



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Monday, November 24, 2014

Wal-Mart's Chief Merchandising Officer to Leave

Wal-Mart’s chief merchandising officer is expected to announce his departure from the retailer just days before the annual Thanksgiving shopping frenzy known as Black Friday, people familiar with the matter said.



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Bharti to Sell Nigerian Towers to American Tower

Bharti Airtel, India’s biggest telecommunications company, said that its Netherlands-based unit has agreed to sell its telecommunications towers in Nigeria to American Tower.



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Sony Eyes Strong PlayStation4 Sales Gains

Sony predicted strong sales gains in its PlayStation4 and image sensor divisions, aiming to rebuild its troubled electronics arm around these businesses as the once promising smartphone unit joins the company’s TV business in decline.



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Spy Tool in Belgian Hack Case Uncovered

A document leaked last year showed British spies boasting they hacked into Belgium’s main telecommunications provider. Now security researchers appear to have found the extremely sophisticated spy tool.



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Federal Government to Mandate More Calorie Counts

The Obama administration plans to unveil final labeling rules on Tuesday that require restaurants with at least 20 locations to display the calorie count of food items on their menus.



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The End of the Impulse Shopper

As U.S. consumers become savvier and less interested in browsing, there’s a new endangered species in the retail landscape: the impulse buy.



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Fight Over Flickr's Use of Photos

Yahoo, owner of the Flickr photo-sharing site, has upset some photographers by selling canvas prints of photos uploaded to the site and keeping all of the profits.



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Rural Philippine Call Center Shows Promise of New Business Model

Tanjay, a sleepy town on the central Philippine island of Negros, is home to a unique experiment: the Philippines’s first rural call center.



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CFOs Don't Trust Cheaper Gasoline to Fuel Holiday Sales

Santa’s sleigh could be turbocharged by cheaper gasoline this holiday season, even if finance chiefs in the retail sector aren't ready to promise investors stuffed stockings.



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U.S. Moves to Impose Tariffs on China Tires

The U.S. took a step toward imposing tariffs on Chinese-made tires, the latest move by workers in the American tire industry to prevent jobs from moving to China.



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Post Loss Widens on Charges

Post Holdings reported a wider loss in the fourth quarter as the company recorded large one-time charges in its ready-to-eat cereal category and a supply chain disruption in its active nutrition segment.



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SEC Issued Subpoena to Petrobras

Brazilian state-controlled energy giant Petrobras said it received a subpoena from the SEC, confirming previous reports that a corruption probe in Brazil has extended to the U.S.



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Casey's General Stores to Revise Financials

Casey’s General Stores said it would revise financial statements dating back to 2012 and pay taxes to settle an accounting error tied to an ethanol excise tax.



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Milk Studios Sues Samsung

Milk Studios, a photography and media company, filed a lawsuit in the U.S. against Samsung, alleging trademark infringement by the South Korean technology giant’s music-streaming service and mobile application.



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New Talks With Union, New Jersey Could Save Trump Taj Mahal

Trump Entertainment Resorts Inc. has offered to restore health care and some pension benefits to unionized workers in a bid to keep the Trump Taj Mahal casino from closing in December.



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Spectrum Auction Bids Top $36 Billion

As bids in an unexpectedly hot auction for U.S. wireless spectrum topped $36 billion, carriers went about issuing billions of dollars in debt for when the time comes to pay for it.



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Salix Plans to Boost Size of Board

Salix Pharmaceuticals has hired search firm Russell Reynolds Associates to help the drug company find independent directors in an effort to boost the size and skill set of its board.



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Honda Says It Underreported Serious Accidents

Honda said it failed to report 1,729 death and injury incidents involving its vehicles to U.S. regulators in an 11-year period starting in July 2003.



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Panamanian Judge Orders Embargo on Carlos Slim Assets

A Panamanian judge has ordered an embargo on the local assets of Mexican billionaire Carlos Slim’s infrastructure company in a legal dispute over a concession to build and operate a hydroelectric plant.



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Appeals Court Grants TV Programmers Stay in FCC Fight

An appeals court granted TV channel owners a preliminary victory in their standoff with the FCC over disclosure of programming contracts, raising the prospect of delays to the agency’s review of pay-TV industry mergers.



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Merck Obtains Rights to Ebola Vaccine

Merck & Co. has obtained the rights to an experimental Ebola vaccine developed by NewLink Genetics, another sign of the scramble by pharmaceutical companies and other groups to find new ways to combat the deadly viral outbreak centered in West Africa.



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ISS Urges Vote Against JDS Uniphase Board Member

Sandell Asset Management Corp. said influential proxy firm Institutional Shareholder Services is urging JDS Uniphase Corp. shareholders to vote against board member Martin Kaplan.



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GM Confirms Accident Linked To Faulty Switch

General Motors confirmed that the car accident involving a Texas woman, who later plead guilty to criminal negligent homicide in her fiancé’s death, is among those linked to the company’s faulty ignition switch issue.



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Saks Fifth Avenue Flagship Valued at $3.7 Billion For Loan

Hudson’s Bay said Monday it took out a $1.25 billion mortgage on the ground floor of Saks’ flagship store in Manhattan and said the building has been appraised at $3.7 billion, well above what the Canadian company paid for all of Saks a year ago.



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Amgen Ends Trials of Stomach-Cancer Therapy

Amgen said it ended clinical studies of a treatment for advanced stomach cancer based on safety concerns.



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Wal-Mart Adds Former American Airlines CEO Horton to Board

Wal-Mart Stores Inc. has added Tom Horton, the former chief executive of American Airlines, to the retailer’s board, bringing its size to 16 directors.



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Redbox Raising DVD Rental Price by 25%

Redbox is raising its DVD rental price by 25%, in a move that could improve the company’s stagnant bottom line and help the Outerwall Inc. unit invest in new technology.



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United Technologies CEO Chenevert to Retire

United Technologies Corp. said Chief Executive Louis Chenevert plans to retire, effective immediately, and it named Chief Financial Officer Gregory Hayes as his successor.



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Dow Chemical, Loeb Settle Board Dispute

Dow Chemical and Dan Loeb’s Third Point settled a looming proxy fight Friday by adding four new directors next year, including two the activist investor had proposed.



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VW to Invest $107.3 Billion

Volkswagen said it would boost capital investment to $107.3 billion over the next five years, raising concern that fixed costs are spinning out of control.



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TV-Streaming Firm Aereo Files for Bankruptcy

Aereo filed for bankruptcy protection five months after the Supreme Court delivered the Internet-broadcast streaming company a fatal blow in its fight with traditional television broadcasters.



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BT in Talks to Buy Telefónica's U.K. Unit

BT said it is in talks to buy Telefónica’s U.K. mobile business, 02, as the British telecom incumbent lays out its ambitions to be a fully-fledged wireless operator in the U.K.’s converging telecom market.



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CMA CGM in Talks to Buy German Short-Sea Operator OPDR

CMA CGM is in talks to buy Germany’s OPDR as part of its strategy to control so-called short-sea operators that will feed cargo into its oceangoing vessels.



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BioMarin to Pay Up to $840 Million for Prosensa

BioMarin Pharmaceutical said it agreed to acquire Prosensa Holding NV, a bet that regulators will approve Prosensa’s lead product candidate for a rare form of muscular dystrophy.



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European Telecoms Bet on 4G

Iliad and other European telecom groups are rushing to invest in data-handling capabilities and faster fourth-generation wireless networks, as consumers use their phones more as devices for messaging apps and video.



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Onex Buys Packaging Firm

Canadian private-equity firm Onex Corporation said it would pay $4.64 billion to buy carton-packaging maker SIG Combibloc from Reynolds Group.



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Slim Enters, Soros Exits in Spain

Fomento de Construcciones y Contratas SA said Monday that a firm controlled by Mexico’s Carlos Slim may take over a large stake in the debt-laden Spanish builder after earlier talks with billionaire George Soros broke down.



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Sunday, November 23, 2014

Budweiser Ditches the Clydesdales for Jay-Z

AB InBev plans to concentrate future Budweiser promotions exclusively on the 21- to 27-year-old age bracket, after years of developing advertising and marketing that appeals to all ages.



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Utilities Press Railroad to Speed Coal Deliveries

Saying they are running short on coal, electric utilities are trying to pressure Warren Buffett’s BNSF Railway Co. to speed up deliveries on its congested tracks before the worst of the winter weather hits.



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Drone Flights Face FAA Hit

A looming rule proposal would restrict commercial drone uses, require pilot license.



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New Postmaster's Goal: Act Like the Private Sector

Megan J. Brennan, who will become postmaster general in February, says the Postal Service has to develop products and services consumers want, and is convinced it can run more like a private-sector business.



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Accident at DuPont Puts Plant in Spotlight

DuPont’s chemical plant in La Porte, Texas, for many years has gained a strong reputation among industrial-safety experts for migrating to safer chemicals. But a deadly gas leak at the plant is now raising questions.



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The Hassle of 'Hands Free' Car Tech

Voice-activated car systems, once seen as aids to driver safety, are under scrutiny for software that often is unreliable, leading to a tide of complaints and a research questioning how safe they really are.



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When Is Free Speech Illegal?

A case before the Supreme Court over threats made on Facebook is highlighting long-standing tension between law enforcement and free-speech advocates over when threatening speech breaks the law.



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Year-Old Messaging App Yik Yak Draws Big Valuation

Yik Yak, the anonymous-messaging app that has spread rapidly across college campuses, is proof that it can take as little as a year these days to go from zero to a valuation of hundreds of millions of dollars.



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Hong Kong Protests Sideline Jeweler

Chow Tai Fook Jewellery, one of the world’s largest jewelers, is the latest high-profile corporate victim of the pro-democracy protests that have gripped Hong Kong for nearly two months.



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Franchisees Buck Minimum-Wage Push

Owners of fast-food restaurants and other franchises are mobilizing to counter the spread of union-backed worker strikes and protests seeking higher wages.



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Samsung Considering Shake-Up in Management

Samsung Electronics is considering a leadership shake-up, including installing a new mobile chief, according to people familiar with the matter, to revive its fortunes after a difficult year.



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BHP Outlines Plan to Cut Costs, Reshuffles Management

BHP Billiton Ltd. outlined plans to cut costs further and curb investment spending as the world’s biggest miner by market value looks to simplify and strengthen its business amid falling commodity prices.



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American Pilots, Management Agree to Continue Talks

American Airlines Group Inc. and the union that represents its 15,000 pilots said they would continue to negotiate terms of a combined labor agreement, putting off for now a plan to reach a deal through binding arbitration.



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Saturday, November 22, 2014

Christie's Hong Kong Evening Sale Draws $82 Million

Buyers snapped up works by Japanese and Southeast Asian artists at Christie’s evening sale in Hong Kong on Saturday totaling 635 million Hong Kong dollars (US$82 million).



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Friday, November 21, 2014

Record Bids in U.S. Airwave Auction

A U.S. auction of wireless spectrum has collected $34 billion in bids, turning what was expected to be a relatively sleepy affair into a major windfall for taxpayers and posing enormous commitment of capital for the carriers.



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European Critics Envision Google's 'Unbundling'

Some European legislators, with German government backing, are preparing a draft resolution calling for the breakup of Google, adding pressure on the EU’s new competition chief to proceed forcefully.



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BMW and Lexus Heat Up the Compact-Crossover Market

The growth in the compact-crossover sector is explosive. These cars offer the raised seating position and higher sightlines consumers love with the stability and versatility of a car-based wagon. Now, BMW and Lexus are entering the market in a big way.



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U.S., Mexico Agree on Greater Access for Airlines

The U.S. and Mexico have reached an aviation agreement that will expand access for passenger and cargo airlines flying between the two countries, the State Department said Friday.



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Elite Law Firms Lift Year-End Bonuses

Law firms Simpson Thacher and Paul Weiss are raising year-end bonuses for associate attorneys by as much as $40,000, partly reflecting this year’s resurgence in lucrative mergers-and-acquisitions work.



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FCC Hoping Its Net Neutrality Rules Survive Inevitable Litigation

The chairman of the FCC said the agency is trying to draw up rules on how broadband Internet providers treat traffic on their networks, while attempting to ensure that the rules can stand up in court.



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Three Mexican Groups Bid for TV Concessions

Three Mexican groups involved in media and publishing have submitted bids for the two broadcast network concessions that the government is tendering to introduce competition for the country’s incumbents Grupo Televisa and Azteca.



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Greek Port Gets Shipshape With China's Help

China Overseas Shipping Group’s investment in the port of Piraeus outside of Athens ranks as one of the most successful Greek privatizations in recent decades.



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Aviva Plans to Buy Friends Life Group

Aviva PLC announced plans for a £5.6 billion takeover of Friends Life Group in an all-share deal that it said would create the largest insurance, savings and asset-management company in the U.K.



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Wynn Resorts Probed on Money-Laundering Controls

Federal authorities are investigating whether casino operator Wynn Resorts violated money-laundering laws, according to people familiar with the matter.



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Oil Rigs Return to Gulf of Mexico

Four years after the Deepwater Horizon disaster, giant new oil projects are returning to the Gulf of Mexico—bigger and more expensive than ever.



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Startup Aims to Be Amazon.com of Indonesia

Online retailer Lazada Indonesia has faced challenges in a country where the e-commerce market is still small. But the startup’s backers are plowing ahead, hoping to get a head start over Amazon, Alibaba and eBay.



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Dish Restores Turner TV Channels

CNN and other networks owned by Time Warner Inc.’s Turner Broadcasting have been restored on Dish Network Corp.’s satellite TV service as part of a short-term accord between the battling media companies.



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Meat Producer JBS Continues Expanding

JBS, the world’s biggest meat producer, said it would buy Brazil’s poultry company Big Frango Group for $165 million.



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Fisker Reborn by American Classic

Danish auto designer Henrik Fisker unveils his next venture at the L.A. Auto Show: modifying Ford Mustangs that will reach 725 horsepower and cpst more than $100,000.



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Canadian Miner Nevsun Calls Allegations `Unfounded`

Canadian mining company Nevsun Resources Ltd. said Friday that it would defend itself against a lawsuit filed in a British Columbia court, calling the human-rights allegations against it and an African subcontractor “unfounded.”



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Targeted Ads? TV Can Do That

TV networks and marketers are harnessing new “Big Data” tools to target ads by matching viewers of niche shows with their shopping preferences, making the television ad landscape more like the online one.



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Federal Appeals Court Grants TV Programmers Stay in FCC Dispute

A D.C. appeals court has granted TV channel-owners a preliminary victory in their standoff with the FCC over disclosure of programming contracts, raising the prospect of further delays to the agency’s review of big pay-TV industry mergers.



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New Ford F-150 Truck More Gas Efficient

Ford said its aluminum-bodied F-150 pickup mated with a new 2.7-liter, turbocharged V6 can achieve 22 mpg, the best of any gasoline-fueled pickup available.



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Abercrombie to Open Mexico Stores

Teen retailer Abercrombie & Fitch said it has signed a franchise agreement, the first in the company’s history, with Grupo AXO to bring its namesake and Hollister brands to the Mexican market.



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Honda in Talks With Suppliers Besides Takata

Honda is in talks with several suppliers besides Takata Corp. about securing replacement parts for vehicles recalled over defective Takata-made air bags, people knowledgeable about the matter said.



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EU Reviews Aviation Policy

The European Union’s executive arm has begun a review of aviation policy that could trigger changes in everything from consumer-rights protection to airline-ownership rules.



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Takata Knew About Air-Bag Woes

The quality chief of the Japanese auto-parts supplier at the center of a massive auto recall said it first learned of air bag problems in May 2005 but didn’t start its investigation or warn car makers until two years later.



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Canadian Railroads Look to Manage Congestion

Canadian railroads have reduced the number of railcar orders farmers will be able to place this crop season in a bid to manage rail congestion.



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Ann's Inventory Surges at Ann Taylor Brand

Ann Inc., the owner of the Ann Taylor and Loft brands, said its inventory at the end of the November quarter was up 8% from a year earlier, skewed by a surge at Ann Taylor.



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Dillard's Sets $500 Million Buyback

Dillard’s unveiled a $500 million stock buyback program Friday, a day after an activist investor began pushing for change at the department-store operator.



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European Telecoms' Merger Talk Reaches Fever Pitch

Talk of mergers among European telecoms firms in France has been so intense that executives are openly joking about it.



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Carnival, Fincantieri Explore Possible Chinese Shipbuilding Venture

Carnival and Italian cruise ship-building company Fincantieri are exploring the possibility of a joint venture in China to support the growth of the industry in that market.



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Dow Chemical, Loeb Settle Board Dispute

Dow Chemical and Dan Loeb’s Third Point settled a looming proxy fight Friday by adding four new directors next year, including two the activist investor had proposed.



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TV-Streaming Firm Aereo Files for Bankruptcy

Internet-broadcast streaming company Aereo Inc. filed for bankruptcy protection five months after the Supreme Court delivered the technology a company a fatal blow in its fight with traditional television broadcasters.



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VW to Invest $107.3 Billion

Volkswagen said it would boost capital investment to $107.3 billion over the next five years, raising concern that fixed costs are spinning out of control.



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Disney Expands Shanghai Media Group Partnership

Walt Disney and Shanghai Media Group are expanding their movie-producing partnership to develop TV shows, and cooperate on marketing and content distribution.



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European Telecoms Bet on Data, Investment in 4G Infrastructure

European telecom groups are to invest in data-handling capabilities and faster fourth-generation wireless networks, as consumers use their phones less and less to make calls and more as devices for messaging apps and video.



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Foot Locker Profit Grows 15%, Tops Estimates

Foot Locker Inc. said its third-quarter profit grew a bigger-than-expected 15% as sales surged, capping a successful run at the helm of the specialty athletic retailer for Chief Executive Ken Hicks.



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Hibbett Sports Revenue Grows 4.9%, Raises Guidance

Hibbett Sports said the onset of colder weather should lead to improved sales in the final part of the year, helping to offset the sporting-goodes retailer’s slowing performance in October.



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Apollo Looks to Greece for Investment

Apollo Global Management, a New York-based company which seeks opportunities in distressed economic situations, has started looking at Greece.



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China Cuts Interest Rates

China’s central bank cut interest rates in an unexpected move after months of weakening economic activity.



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Draghi Talks Tough on Inflation

European Central Bank President Mario Draghi sent a strong signal that the central bank is ready to expand its asset-purchase programs if inflation shows signs of staying too low for too long.



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Enel Sells Endesa Stake

Italy’s Enel has raised $3.91 billion from the sale of a large stake in its Spanish power utility Endesa to institutional and retail investors.



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Thursday, November 20, 2014

Pentagon to Contractors: Innovate

The Pentagon wants to spend more of its budget on new technologies from beyond its traditional supplier base—posing a challenge for established defense contractors.



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Sotheby's CEO to Step Down

Sotheby’s CEO William F. Ruprecht is leaving, months after hedge-fund activist Dan Loeb and several others joined the auction house’s board.



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GM Shifts Some Senior Managers

General Motors is shifting some senior managers in moves that divide up global quality and customer-experience activities, as it continues to deal with a large vehicle recall over a defective ignition switch.



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Brazil Freezes Suspects' Assets in Petrobras Probe

Brazil’s central bank has frozen around $18.6 million in assets of suspects in connection with a broad investigation into alleged embezzlement at state-controlled oil firm Petróleo Brasileiro SA, prosecutors said.



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For Dish, Tense Talks All Around

Satellite-TV provider Dish is fighting three media giants at the same time: Comcast’s NBCUniversal, CBS and Turner.



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China Opens Up on Oil Reserves

China disclosed for the first time that the first phase of its strategic petroleum reserves contains about 91 million barrels.



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Ex-CEO Pleads Not Guilty in Mine Blast

A criminal case against former coal-mining executive Don Blankenship is already generating controversy after a judge imposed a broad gag order to find an impartial jury for the trial.



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BNP Paribas Cuts Eight from U.S. Junk-Bond Trading Team

BNP Paribas SA has cut a group of junk-bond salesmen in the U.S., including team head Kevin Cook, according to people familiar with the matter.



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Google Looks to Get Back Into China

Google is considering bringing a version of its Play mobile-app store to China, a tentative but important step back into a country that Google mostly exited in 2010.



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Jana Partners Considers Nominating PetSmart Director Slate

PetSmart Inc. shareholder Janan Partners, the hedge fund that has been pushing for a sale of the pet-goods retailer, said it is considering nominating five people to the company’s board.



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Korea Gas Seeks to Sell Part of LNG Canada Stake

Korea Gas is seeking to sell part of its 15% stake in a Royal Dutch Shell-led natural gas export terminal planned for the Pacific coast of Canada.



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JBS Buys Australian Meat Producer

Brazil’s JBS, the world’s biggest meat producer by sales, agreed to buy Australia’s Primo Group for $1.25 billion, as global food companies continue to ramp up their operations to serve rising Asian demand.



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Hertz Names Tague CEO

Hertz Global Holdings Inc. said former United Airlines executive John P. Tague will be the car-rental company’s president and chief executive.



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Official Found Not Guilty of Threats Against Former FHFA Leader

An official at the Federal Housing Finance Agency, a federal mortgage regulator, was found not guilty Thursday of making violent threats about the agency’s former leader.



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Top Two Banorte Executives Step Down

Mexican financial group Banorte’s chief executive and chairman both resigned Thursday, paving the way for a member of the bank’s leading shareholder family to take the top job.



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Gap Shakes Up Management of Namesake Brand

Gap Inc. overhauled the leadership of its struggling namesake brand and said its profit would be weaker than expected this year.



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New Media to Buy Halifax Media Newspapers

New Media Investment Group has reached an agreement to buy all of the newspapers owned by the Halifax Media Group for $280 million.



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U.S. Orders Electric Utilities to Secure Sites From Attack

Federal energy regulators ordered utilities to protect important electrical equipment from potential attackers trying to disrupt the nation’s electric grid.



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Yum Sets Aside $1 Billion for Buybacks

Yum Brands Inc. is setting aside $1 billion for possible share buybacks through May 31, 2016, the company said.



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Chinese Transform Greek Port, Winning Over Critics

China Overseas Shipping Group’s investment in the port of Piraeus outside of Athens ranks as one of the most successful Greek privatizations in recent decades. Cosco’s container terminal has created 1,000 jobs, and the port is now one of the fastest-growing in the Mediterranean.



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NHTSA Slams Chrysler's Jeep Recall Response

U.S. safety regulators have sent a letter to Chrysler Group’s chief executive demanding that the company “get their act in gear” on repairs to 1.56 million older-model Jeeps linked to fuel-tank fires and recalled last year.



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Wynn Resorts Probed on Money-Laundering Controls

Federal authorities are investigating whether casino operator Wynn Resorts violated money-laundering laws, according to people familiar with the matter.



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CBS News Chief to Step Down

CBS said Jeff Fager has decided to step down as chairman of CBS News and return to his role as executive producer of the newsmagazine program “60 Minutes.”



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CIM Group to Take Control Trump SoHo

Real-estate investor CIM Group, a lender to the developers of New York’s Trump SoHo hotel and condominium, on Thursday won a foreclosure auction that will allow it to own the property, a CIM executive said.



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Intel Projects More Growth in 2015

Intel Corp. projected more growth next year, as an improving personal computer market and newer bets pay off for the big chip maker.



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France Orders Airbus Tanker Planes

Airbus Group NV on Thursday said the French government has agreed to place an order for 12 military airborne-refueling aircraft in a €3 billion deal.



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Norwegian Air Battles Opponents With Expansion Pledge

The head of Norwegian Air Shuttle ASA on Thursday outlined plans for more international expansion if it can overcome fierce opposition from rivals and labor groups to its effort to establish a new long-haul operation in Ireland.



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Inside Apple's Broken Sapphire Factory

The $1 billion plan by Apple and unproven contractor GT Advanced Technologies to make superhard iPhone screens was troubled from the start, a rare misstep for the world’s most valuable company.



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Targeted Ads? TV Can Do That

TV networks and marketers are harnessing new “Big Data” tools to target ads by matching viewers of niche shows with their shopping preferences, making the television ad landscape more like the online one.



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Amazon Robots Get Ready for Christmas

Amazon has outfitted several U.S. warehouses with squat, wheeled robots that move stocked shelves to workers and are expected to speed delivery, saving employees as much as 20 miles a day of walking.



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Valeant Sets $2 Billion Buyback Plan

Valeant Pharmaceuticals is launching a new $2 billion securities repurchase program, just days after losing to its bid to buy Botox maker Allergan to Actavis.



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Marcato Pushes REIT Plan at Dillard's

Activist investor Marcato Capital Management said department-store operator Dillard’s would benefit from splitting into a real-estate investment trust and an operating company.



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Ethiopian Airlines Hit by Ebola Fears

Ethiopian Airlines is losing around $8 million a month in sales as travelers cut back on African trips as concern about the Ebola outbreak in West Africa affects far-afield airlines.



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Air-Bag Executive Apologizes for Failures

Takata’s global quality chief said the air-bag maker was ‘deeply anguished’ by the death and injury reports linked to its faulty devices and said the Japanese company is allocating extra resources to boost production of replacement parts.



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Southwest Airlines Pilots Union Requests Federal Mediation

The union that represents 8,000 Southwest Airlines Co. pilots said it officially filed for mediation Thursday with the National Mediation Board



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Ineos Plans to Spend Up to $1 Billion in Shale

Chemicals giant said it plans to spend up to $1 billion in a move that puts Ineos at the forefront of efforts to develop the U.K.’s nascent industry.



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Corinthian Colleges to Sell Campuses

Embattled for-profit college operator Corinthian Colleges agreed to sell the bulk of its campuses to nonprofit Zenith Education Group for $24 million as it winds down its operations.



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Wednesday, November 19, 2014

Target Gets Some Mojo Back

Target posted a surprise increase in third-quarter profit on stronger-than-expected sales, a positive sign for the retailer, which has struggled to snap out of a multiyear funk and recover from last year’s data breach.



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JetBlue to Add Bag Fees

JetBlue Airways is adding bag fees and cutting passenger legroom, as the carrier looks to improve its financials amid pressure from analysts and investors.



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Staples to Speed Store Closings

Staples Inc. said it would close more stores this year, after sales continued to slide during the office supplier’s key back-to-school selling season.



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Cavernous Stores Wear on Forever 21

Forever 21 is grappling with a special problem stemming from its aggressive expansion: gigantic stores that it has had trouble filling productively, according to people familiar with the company.



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Yahoo to Become U.S. Default Search Engine for Firefox

Yahoo will become the default search engine on the Firefox browser for U.S. mobile and desktop users under a five-year partnership with Mozilla.



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Jaguar Land Rover Not Trying to Match Germans in Scale

Jaguar Land Rover isn’t trying to chase the German luxury brands in volume and the company doesn’t need to make millions of vehicles, its CEO Ralf Speth said.



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Daimler's Maybach Badge Could Dress an SUV

Daimler AG’s ultra-luxury Maybach nameplate could be headed to more vehicles than just sedans in the future, including a potential expansion into the sport-utility segment.



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Senators Probe Air-Bag Recall Delays

A senate hearing Thursday is expected to highlight how auto companies and regulators were slow to respond to driver injuries from exploding air bags and how out-of-court settlements kept information on air bag flaws under wraps.



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Wal-Mart Tightens Online Price-Match Policy

Wal-Mart Stores Inc. is tightening its new online price-matching policy, after people used listings it alleged were fake to buy PlayStation videogame consoles and other products at deeply reduced prices.



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ATK Expects Gun Market to Stabilize in Late 2015

The domestic sports shooting market should stabilize by the end of next year after a sharp slowdown in sales, the head of U.S. ammunition maker Alliant Techsystems said.



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Bids for Wireless Licenses Soar Amid Pent-Up Demand

Bids in the U.S. government’s biggest auction of wireless licenses since 2008 have shot up to a surprising $24.2 billion in just five days, showing the deep appetite from telecom companies.



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For Allergan Suitors, Unorthodox Alliance Proved Unwieldy

A look at the partnership of Valeant CEO Michael Pearson and activist investor William Ackman in their failed $53 billion bid to acquire Allergan shows that the two men didn’t always see eye to eye.



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Caesars Proposes a REIT Plan

Caesars Entertainment has approached senior creditors about a plan to convert the casino company’s largest unit into a real-estate investment trust as it works to restructure $18.4 billion in debt.



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Airbus Wins 50 Widebody Jet Deal With Delta

Airbus Group NV won a deal from Delta Air Lines Inc. for 50 long-range twin aisle jetliners, a major win for these aircraft over Boeing Co.



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Anheuser-Busch InBev Cuts Jobs in U.S.

Anheuser-Busch InBev NV confirmed Wednesday it is cutting jobs and consolidating its sales division in the U.S. after the world’s largest brewer posted weak third-quarter results in its largest market.



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Apple, Others Encrypt Phones, Fueling Standoff

The Justice Department complains that new encryption technology by Apple, Google and others makes it harder for police to gather evidence.



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Amazon Deploys Robot Army for the Holidays

Amazon has outfitted several U.S. warehouses with squat, wheeled robots that move stocked shelves to workers and are expected to speed delivery, saving employees as much as 20 miles a day of walking and reducing fulfillment costs.



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ADM Sues Syngenta Over Genetically Engineered Corn

Archer Daniels Midland Sued Syngenta AG over losses the grain trader and processor said it suffered after Syngenta sold genetically engineered corn in the U.S. that had yet to win approval in China.



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