Wednesday, September 30, 2015

New United Continental Boss Starts Tenure With Apology

In his first interview as United Continental Holdings CEO, Oscar Munoz acknowledged the 2010 merger that created the carrier was poorly managed. He declined to discuss the probe that led to his predecessor’s ouster.

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Long Road Remains to Gender Equality in Business, Execs Say

Top executives from companies including Facebook, PepsiCo and Bank of America on Wednesday evening said much work remains for women to be equal to men in American corporations.

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As China Cools, Korean Exporters Feel Chill

South Korean exporters are among the top casualties, as Chinese economic growth ebbs. For many companies, the damage is compounded by the speed at which Chinese rivals expanded their own production.

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Costco to Build 32 New Stores

Costco Wholesale Corp. is feeling the pain of lower fuel prices and the stronger dollar, but the warehouse retailer is pushing ahead with plans to open more stores in the U.S. and abroad, as it attracts new customers.

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Sirius, T-Mobile Spat Over Airwave Interference

Sirius XM customers in a few big cities have been complaining about losing their satellite radio signal, and the company says it has found the culprit: interfering T-Mobile cellphone towers.

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Ex-Coal CEO Heads to Trial for Alleged Worker-Safety Breaches

Former Massey Energy CEO Don Blankenship is set to go on trial Thursday on criminal charges that he conspired to violate federal workplace-safety laws ahead of the worst U.S. coal-mining disaster in four decades.

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Saying 'No' to Automated Ad Sales

Some Web publishers are eschewing automated ad placement, on the belief that the middleman system not only takes a big cut of revenue but that the technology is to blame for ad clutter and obnoxious tracking mechanisms.

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Questions About Fed Leak Rise to Insider-Trading Probe

A high-profile investigation into a leak of sensitive information from the Federal Reserve in 2012 has escalated to an insider-trading probe led by a key market surveillance agency and federal prosecutors in Manhattan.

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Microsoft, Google Agree to Dismiss All Pending Patent Suits

Rivals Microsoft Corp. and Google Inc. agreed to dismiss patent-related lawsuits between the two companies, in a sign of the cooling intellectual-property wars among technology giants.

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Schlumberger Deal With Russian Drilling Company Called Off

Schlumberger Ltd. on Wednesday backed out of a $1.7 billion deal for a stake in Russia’s largest onshore drilling firm after Moscow didn’t approve the deal by a deadline imposed by the Western oil-services giant.

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Tobacco Companies Revive Suit Against FDA

The biggest U.S. tobacco companies resurrected a lawsuit against the Food and Drug Administration challenging the agency’s effort to assert authority over tobacco product packaging.

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In Europe, Car Makers Have Close Ties with Testers

The scramble to tighten rules on emissions tests following Volkswagen’s diesel-engine scandal is laying bare a regime in which car makers pay the very firms that test and certify their vehicles.

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Federal Court Blocks Obama Administration Fracking Rule

A federal judge in Wyoming blocked an Interior Department rule setting stricter standards for hydraulic fracturing on public lands, a blow to the Obama administration’s environmental rule.

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Why More People Want an M.B.A.

Students are heading back to school. The number of applicants seeking admission to M.B.A. programs grew at 57% of schools world-wide offering full-time, two-year programs, according to the latest data from GMAC.

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GM Aims to Show Off Its Smart Side

General Motors has long reigned as the U.S. auto industry’s biggest player; now, CEO Mary Barra plans to tell investors that her company is the smartest.

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Target Expands Online Price-Match Policy to Include Amazon, Wal-Mart

Target Corp. said Wednesday its website will start matching prices from the websites of rivals like Amazon.com and Wal-Mart Stores Inc..

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Secrets to Creating a Better Hotel Room

At Marriott’s Innovation Lab, researchers find that better Wi-Fi, more outlets and soundproofing trump fancy shampoos.

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French Newspaper Charlie Hebdo Moves to Secure Offices

French satirical newspaper Charlie Hebdo has moved out of temporary office space to new high-security premises, said a person familiar with the matter, nearly nine months after a terrorist attack decimated its newsroom.

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Budget Priorities Don't Bode Well for Future

If congressional squabbling causes the government to shut down the economy will be fine. The same cannot be said if the misshapen priorities embedded in the current federal budget are left to fester, writes Greg Ip.

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IMF Chief Predicts Modest Growth Next Year

The head of the International Monetary Fund, Christine Lagarde, said the global economy will grow only modestly next year as emerging-market economies, particularly China, decelerate.

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Arm of China-Controlled Tsinghua to Buy 15% Stake in Western Digital

An arm of China’s Tsinghua Unigroup will buy a 15% stake in Western Digital, allowing it to nominate a director, in the latest sign of overseas ambitions for the government-controlled chip maker.

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Private-Sector Jobs Rose 200,000 in September

Private-sector payrolls in September rose at a solid pace that matched expectations, according to an employment survey.

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Airbus A320neo Test Aircraft Suffers Engine Damage

Airbus said one of its A320neo test aircraft has suffered engine damage, a sign of further pressure on the European plane maker to meet an end-of-year deadline to bring the revamped jetliner into commercial service.

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Potential Anheuser-Busch InBev Takeover of SABMiller Has Pitfalls

An Anheuser-Busch InBev takeover of SABMiller has been rumored for so long that one might be tempted to take its merits at face value, but several analysts think the drawbacks and obstacles in such a deal outweigh the potential advantages.

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What's Holding Women Back in the Workplace?

Despite support at the top, gender equality is a long way off at most U.S. companies. A landmark study of 118 companies and nearly 30,000 employees by Lean In and McKinsey reveals why—and what employees and companies can do about it.

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Shale Boom Bypasses New England

Natural gas is so abundant in much of the U.S. that producers want to export it overseas. But in New England, gas is so hard to get that companies are importing it from as far away as Yemen.

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Marks and Spencer Looks to Double Presence in India

With revenue up 23% last fiscal year, India is a bright spot for U.K. retailer Marks and Spencer, but a planned doubling of stores over the next 15 months has risks as well as opportunities.

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Glencore Shares Rise Again

Shares in Glencore PLC rose for a second consecutive day Wednesday after the commodities giant reassured investors yet again that it is tackling its debt issues.

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Trial of Uber Executives to Begin in Paris

Prosecution of two top executives at Uber Technologies lays bare the tension between Silicon Valley and European governments over whose rules will apply in the digital economy.

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France to Run Emissions Tests on 100 Cars

France will test cars belonging to individuals and rental agencies to see if their emissions in real-world situations exceed legal limits, French Environment Minister Ségolène Royal said.

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Tuesday, September 29, 2015

Tesla Launches Model X Electric SUV

Tesla Motors Chief Executive Elon Musk has only one regret about the Model X sport-utility vehicle: The company may have gone a little overboard with pushing the engineering on the electric vehicle, he said Tuesday.

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Japan Output Slide Hints at Recession

Japanese industrial output fell in August, raising the possibility that the world’s third-largest economy will enter a recession for the second time in as many years.

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Colleges a Boon to Downtown Brooklyn's Economy: Report

Downtown Brooklyn’s higher-education institutions drew some 60,000 students and generated $2.8 billion in economic activity in 2013, according to report released Tuesday by a civic group.

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Review: Samsung Pays Where Apple Can't

Samsung Pay leaps past Apple Pay by letting newer Galaxy phones work with old-school credit card readers, Geoffrey A. Fowler says.

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U.S. Export Weakness Hampers Growth

U.S. exports are on track to decline this year for the first time since the financial crisis, wilting under the weight of a strong dollar and global economic strains.

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RBC's Appeal Has Banks Concerned

When lawyers for RBC Capital Markets enter a Delaware courtroom Wednesday, Wall Street rivals will be watching closely. RBC is appealing a landmark finding against it for merger advice.

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Weapons Programs Face Disruption If Congress Caps Spending

Some big Pentagon weapons projects—Lockheed’s F-35 fighter jet, Boeing’s refueling tanker and a new Air Force bomber—could be disrupted if Congress opts to continue defense funding in fiscal 2016 at prior-year levels.

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Mexico Strains to Lure World's Oil Giants

Mexico is auctioning off fields in the Gulf of Mexico in a high-stakes effort to attract the world’s oil giants after a previous auction in July failed to land a single foreign oil major.

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Steep Hurdles Make Criminal Cases Against Car Makers Difficult

A Justice Department investigation into whether Volkswagen should face criminal charges for cheating on emissions tests highlights what some lawmakers say is a long-standing gap in U.S. environmental law.

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Chesapeake Energy Cuts 15% of Workforce

Chesapeake Energy cut its workforce by 15% to reduce costs amid low prices for crude and natural gas.

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Ralph Lauren Hands Reins to an Outsider

Ralph Lauren is stepping aside as chief executive of the fashion empire he built over five decades, appointing Stefan Larsson, an Old Navy and H&M veteran, to help run his business, which has stumbled this year.

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Measurement Firm ComScore to Acquire Rentrak

Measurement firm comScore agreed to acquire rival Rentrak, in a bid to take on No. 1 player Nielsen. The industry is racing to come up with better ways to track media consumption across TV and digital platforms.

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Twitter Mulls Expanding Size of Tweets

Twitter is contemplating whether to allow users to tweet more than 140 characters at a time, a debate that challenges one of the fundamental features of the social media service.

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A Quiet Evolution at Microsoft's Office

Microsoft CEO Satya Nadella, in an interview, says the company’s 25-year-old Office suite of products will stay at the center of work life.

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Fiat Chrysler Didn't Fully Report Claims, U.S. Says

Fiat Chrysler underreported death and injury claims to federal regulators, falling short on legal obligations and adding to mushrooming government scrutiny of the company’s safety practices.

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Pacific Trade Talks Are at a Crucial Juncture

Top negotiators from the U.S. and 11 trading partners face growing political challenges if they fail this week to wrap up an elusive trade agreement spanning the Pacific.

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U.S. Goods Exports Plummet

U.S. goods exports fell to a multiyear low in August, a potential drag on the economy amid falling commodity prices, slow overseas growth and a stronger dollar.

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Google Doubles Down on Nexus to Keep Up With Apple

Google is doubling down on its Nexus program to gain more control over its Android mobile-operating system amid new technology and rising competition from Apple.

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Li Ka-shing Defends Business Strategy

Hong Kong tycoon Li Ka-shing defended his business strategy in China after articles in Chinese media accused him of abandoning investment in the country and called into question his patriotism for the mainland.

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Apple's Business-Related Revenue Hits $25 Billion

Apple’s revenue from its so-called enterprise business reached $25 billion for the year ended in June, suggesting the company is starting to produce results from its push for business customers.

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Ikea Tests Movable Walls

Swedish furniture company Ikea is testing movable walls and sliding power sockets that residents of small apartments can shuffle around to create subrooms and much-wanted privacy.

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AppDynamics Names David Wadhwani CEO

David Wadhwani named chief executive of the software startup as founder Jyoti Bansal becomes executive chairman and chief strategist of the software startup.

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Google Introduces Two Nexus Phones

For the first time, Google is introducing two new Nexus Phones at once: the Nexus 5X, built by LG, and the Nexus 6P, built by Huawei.

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U.S. Consumer Confidence Improves

Consumers’ outlook on U.S. economy improved—with the Conference Board’s consumer confidence index climbing to 103.0 in September from August’s revised 101.3—suggesting Americans were not rattled by recent global turmoil.

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Fox Nominates ValueAct CEO to Board

21st Century Fox has nominated to its board Jeffrey Ubben, the chief executive of activist investment fund ValueAct Capital.

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U.S. Home-Price Growth Remains Strong in July, Case-Shiller Says

Home prices grew steadily in July, according to a report released Tuesday, underscoring that the housing market enjoyed a strong first half of the year even as more recent indicators suggest it is slowing. WSJ PRO

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Axel Springer to Purchase Majority Stake in Business Insider

Axel Springer SE confirmed it is purchasing a majority stake in Business Insider Inc., a leading business and financial news site. Springer said the acquisition is at the core of its strategy to increase digital journalistic content.

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VW Has Refit Plan For Emissions-Rigged Vehicles, Says CEO

Volkswagen has put together a plan to refit vehicles involved in an emission-rigging scandal, the company’s new chief Matthias Müller told managers.

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Eurozone Confidence Firms, Inflation Worries Revive

Businesses and households across the eurozone were mostly untroubled in September by the prospect of slower growth in China, and warnings from central bankers that the currency area’s modest recovery could weaken as a consequence.

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Greek Shipowners Prepare to Weigh Anchor on Prospect of Higher Taxes

Many of Greece’s world-leading shipowners are actively exploring options to leave their home country, reacting to the prospect of sharply higher shipping taxes in the debt-ridden nation.

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India's RBI Cuts Key Interest Rate More Than Expected

India’s central bank cut its key interest rate more than markets expected and for the fourth time this year amid optimism Indian inflation rates will remain low.

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Glencore Shares Rebound Despite Gloomy China Outlook

Glencore shares bounced back even as worries persisted about the mining and trading group’s debt-laden balance sheet amid a still gloomy outlook for China’s economy and commodities prices.

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Monday, September 28, 2015

Fiat Chrysler Labor Contract in Doubt

United Auto Workers members at several Fiat Chrysler plants have rejected the proposal, indicating the auto maker is having a tough time selling a four-year deal that raises wages but falls short of expectations.

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Gifts You Won't See in the Neiman Marcus Catalog

The curator for the luxury retailer’s over-the-top Christmas wish book says no to ‘His and Hers’ caskets, a jeweled trailer hitch and other items.

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Tesla Prepares to Launch Electric SUV

Tesla Motors Chief Executive Elon Musk is set to unveil the company’s long-delayed Model X electric sport-utility vehicle at a media event Tuesday night.

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Yahoo to Pursue Alibaba Stake Spinoff Without IRS Ruling

Yahoo Inc. will continue pursuing a spinoff plan for its Alibaba Group Holding Ltd. shares.

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Congressional Democrats Seek Valeant Subpoena

Democrats on the House oversight committee are seeking a subpoena to force Valeant to explain price increases for two heart drugs, spurring a 17% drop in the shares.

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Volkswagen CEO: Must Change Corporate Culture

Volkswagen AG’s new chief executive, Matthias Mueller, on Monday, called upon the car maker’s executives to help change the corporate culture, as Volkswagen addresses the biggest challenge in its 78-year-old history following revelations of its large-scale cheating in emissions tests.

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Microsoft Changes How It Reports Its Financial Results

Microsoft is changing how it presents its financial results, as the software maker aims to emphasize its mobile and cloud businesses.

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VW Faces Barrage of Litigation

Lawyers are moving to consolidate widespread litigation stemming from Volkswagen’s emissions-cheating scandal, drawing the German auto maker into a prolonged legal case expected to spur rafts of depositions and demands for billions of dollars in damages.

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Google Tries to Make Its Cars Drive More Like Humans

Google designed its self-driving cars to follow the rules of the road. Now it’s teaching them to drive like people, by cutting corners, edging into intersections and crossing double-yellow lines.

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German Prosecutors Probe Former Volkswagen CEO Winterkorn

German prosecutors launched a criminal investigation of former Volkswagen Chief Executive Martin Winterkorn and other unnamed executives on suspicion of fraud in connection with the emissions cheating scandal.

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Energy Transfer to Buy Williams Cos. After Yearlong Pursuit

Energy Transfer Equity said it will buy Williams Cos. for roughly $32.6 billion, reaching a deal to create an energy-moving giant after a nearly yearlong pursuit of the rival pipeline operator.

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Whole Foods to Cut 1,500 Jobs

Whole Foods Market said it will cut 1,500 jobs, representing 1.6% of its workforce, over the next two months as the natural-foods grocer works to lower its prices.

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GE to Shift 350 Jobs to Canada

GE plans to cease manufacturing gas engines in Wisconsin and move 350 jobs to Canada, in order to use that country’s export-financing regime to pursue new business.

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Pending Home Sales Index Down 1.4% in August

A forward-looking gauge of U.S. home sales slipped in August—further evidence that the surge in momentum in the first half of the year has leveled off.

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Fed's Dudley: Still Likely on Track for 2015 Rate Rise

Federal Reserve Bank of New York President William Dudley said Monday he continues to believe officials will be able to end their current near-zero interest rate policy before the close of 2015.

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U.S. Consumer Spending Up 0.4% in August

U.S. households increased their spending in August as incomes rose, suggesting that consumers will continue to support the economy despite turbulence in financial markets and slowing overseas growth.

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Crunchtime for Global Tax-Avoidance Push

Nearly 50 governments are set to agree this fall to a new set of rules to clamp down on tax avoidance among multinational corporations. Their chance of success, however, is unclear.

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iPhone Launch Sets Record

Apple said it has sold more than 13 million iPhone 6s and iPhone 6s Plus models in the three days after their launch, a record for the company.

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Alcoa to Split Into Two Companies

Aluminum maker Alcoa said it will split into two publicly traded companies, joining the recent wave of companies looking to spur growth by breaking up.

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Halliburton, Baker Hughes to Sell More Businesses

Halliburton and Baker Hughes plan to unload a handful of other businesses as they continue to seek regulatory approval for their $35 billion merger.

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Glencore Sinks To All-Time Low On Continued Debt Fears

Shares in commodities giant Glencore PLC sank 17% to a new all-time low as the trader and miner struggles to convince investors it will be able to meet its net debt targets if commodity prices remain low.

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Vodafone Ends Talks With Liberty Global

Vodafone has terminated talks with Liberty Global regarding a possible exchange of selected assets between the two companies.

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Comcast to Buy Majority Stake in Universal Studios Japan

The largest U.S. cable operator will acquire a 51% stake in the holding company of Universal Studios Japan for $1.5 billion.

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Hapag-Lloyd Plans Frankfurt, Hamburg IPO This Year

German shipping group Hapag-Lloyd plans to list its shares this year on the Frankfurt and Hamburg stock exchanges, with the proceeds earmarked for new investment and strengthening its finances.

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Sunday, September 27, 2015

Shell to Cease Alaskan Arctic Oil Exploration

Royal Dutch Shell said it would end its controversial drilling program in the Alaskan Arctic after a disappointing drilling season.

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Publishers Distance Themselves From Ad Fraud

Online media companies are eager to distance themselves from ad fraud, and to use the relative lack of fraud on their sites to help differentiate their ad offerings in the market.

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How Humans Can Win the Race Against the Machines

What American education needs is a technology revolution—one designed to leverage software and machines not merely to replace humans, but to enhance them, Christopher Mims writes.

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Japanese Firms Show Revived Interest in NYC Property

This time, they’re working with local partners and hoping to invest for the long term.

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Lenin and Stalin Look-Alikes Jostle for Tourists' Cash

Bolshevik impersonators form temporary allegiances to share territory and earnings, while sniping behind each other’s backs.

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How Some Investors Get Special Access to Companies

In meetings with top executives, facts and body language flow from public companies to handpicked recipients.

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70,000 Ways to Classify Ailments

Doctors, hospitals and insurers are bracing for possible disruptions on Oct. 1 when the U.S. health-care system switches to a massive new set of codes for describing illnesses and injuries.

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'Hotel Transylvania 2' Tops Box Office

‘Hotel Transylvania 2’ beat the record set by its predecessor for best box-office opening in the month of September, debuting this weekend with an impressive $47.5 million in the U.S. and Canada.

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Foreign Firms Fret at Obstacles in Indonesia

Foreign businesses want to expand in Southeast Asia’s biggest economy. Indonesia isn’t making it easy for them.

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Volkswagen CEO Promises Action on Emissions Scandal

Matthias Müller wasted no time asserting his authority after Volkswagen tapped the chief of its Porsche sports car unit last week to take the helm of the entire group.

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Kenyan Marathoner Falls Short of Record After Nike Shoes Fail

Kenya’s Eliud Kipchoge won the Berlin Marathon on Sunday, but fell short of a world record after the insoles of his shoes came apart during the race. Nike sponsors Mr. Kipchoge and made his shoes.

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Vocus, M2 Group Plan Merger

In the latest redrawing of Australia’s telecommunications sector, Vocus Communications Ltd. said Monday it has agreed to an all-share merger with rival M2 Group.

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VW's Financing Costs Rise

VW faces higher financing costs and a strain on its ability to offer loans to boost sales amid an unfolding emissions scandal, which is rippling through all aspects of the auto maker’s business.

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Thriller Opens Window on Housing Bust

The new movie “99 Homes” is Hollywood’s first major treatment of the housing collapse that accompanied the 2008 financial crisis. The twist was turning it into a thriller.

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Saturday, September 26, 2015

Switzerland May Ban Volkswagen Diesel Car Sales

Switzerland is considering banning the sale of diesel cars made by Volkswagen in the wake of the emissions rigging scandal that is rocking Europe’s biggest car maker.

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Suzuki to Sell Its 1.5% Stake in Volkswagen

The agreement largely ends a failed tie-up between Japan’s Suzuki and the German auto maker, after four years of arbitration.

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Two Kidney Cancer Drugs Show Promise in Separate Studies

Both tested drugs proved superior to a current standard treatment.

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Sprint to Sit Out Next U.S. Auction of Airwaves

Sprint Corp. plans to sit out a coming auction of wireless airwaves, a surprising decision that will save the carrier billions of dollars but could deprive its network of upgrades in the future.

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Ad Blocking Is a Hot Topic for Marketing, Media Executives

When Advertising Week kicks off Monday in New York, industry executives will convene to discuss all the hot marketing trends. But beyond the excitement over newfangled approaches, there will also be plenty of hand-wringing over the very future of the ad business as it comes under threat.

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Friday, September 25, 2015

Luxury-Perfume Makers Turn to Wal-Mart, Target

Designer fragrances typically sold at U.S. department stores and specialty retailers are becoming popular items at retailers such as Wal-Mart and CVS.

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Regulators Revamp Emissions Tests Over VW Revelations

U.S. and foreign regulators are overhauling the way they police auto makers’ compliance with air-emissions standards in the wake of disclosures that Volkswagen cheated on vehicle tests for years.

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U.S., China in Pact Over Cyberattacks Against Companies

The U.S. and China announced an agreement not to direct or support cyberattacks that steal corporate records for economic benefit, the result of lengthy negotiations and occasional threats from the White House.

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FIFA's Blatter Investigated by Swiss Authorities

The Swiss attorney general’s office Friday targeted Sepp Blatter, FIFA’s longtime president, in a criminal investigation that deals a crippling blow to the close-knit circle that has ruled soccer for decades.

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Oracle's Co-CEOs See 41% Bump in Total Compensation

Oracle Corp.’s founder and longtime chief executive Larry Ellison made $63.6 million in 2014, and new co-CEOs Safra Catz and Mark Hurd saw increases largely tied to stock compensation from their new posts.

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Altria to Play Key Role in Brewer Talks

Anheuser-Busch InBev’s ability to strike a deal for SABMiller could rise or fall on whether AB InBev is willing to give a third player—tobacco giant Altria—a big enough stake and enough power to meet its earnings target.

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H-P's Then-Chairman Tried to Quash Autonomy Acquisition

Just days before Hewlett-Packard Co. announced its disastrous $11 billion Autonomy acquisition, Chairman Ray Lane mounted a last-ditch effort to get H-P’s then-CEO Leo Apotheker to quash the deal, documents show.

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Gates Foundation Sues Petrobras, Auditor for Fraud

The Bill and Melinda Gates Foundation is suing Brazil’s Petróleo Brasileiro S.A and its auditor, claiming a vast corruption scheme caused the charitable organization to lose tens of millions of dollars. The foundation joins a long list of plaintiffs seeking to recoup money.

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Volkswagen Names Matthias Müller CEO

Volkswagen named Matthias Müller as the company’s new CEO, tasking him with the challenge of steering Europe’s biggest car maker through an emissions-cheating scandal.

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FTC Looking at Complaints Over Google's Android Control

The FTC is looking at complaints that Google uses its Android operating system for smartphones to favor its search and services at the expense of rivals.

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Final September Consumer Sentiment Index Rises to 87.2

Consumers’ enthusiasm about the U.S. economy improved in late September, suggesting worries about global turmoil have eased.

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BlackBerry to Launch Android Smartphone

BlackBerry confirmed it would launch a new Android phone to help bolster revenue, while reporting results that fell short of expectations and software revenue that showed signs of weakness.

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U.S. 2nd Quarter GDP Grew 3.9%

The U.S. economy entered the third quarter of the year on a strong note, but recent data suggests output could be moderating over the final six months of 2015.

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Volkswagen Board Meets to Anoint New CEO

Volkswagen’s supervisory board has assembled for a meeting to anoint a new chief executive, shake up senior management and begin repairing damage from the emissions scandal.

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EU Probes Planned Staples-Office Depot Merger

EU regulators have opened a detailed investigation into Staples’ $6.3 billion planned acquisition of Office Depot, warning the deal could lead to price increases and less choice for business customers.

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Albertsons to Raise Up to $1.84 Billion in IPO

Grocery giant Albertsons on Friday said it expects to raise up to $1.84 billion in its initial public offering, months after private-equity firm Cerberus combined Albertsons with Safeway.

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Schlumberger Won't Extend Eurasia Drilling Deadline

Schlumberger said it won’t extend a Sept. 30 deadline on its $1.7 billion offer for a stake in Eurasia Drilling Co., after approval for the deal has been delayed for months by Russian officials.

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Sharp Pressed to Find Investors

Banks holding $5 billion in Sharp loans want it to strike a swift deal, but potential backers of its smartphone display business are said to be wary of buying into the troubled electronics maker.

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Cereal Makers Look for New Dawn Abroad

Tepid cereal sales in the U.S. have pushed Kellogg and other makers to look abroad for new markets. But as boiled Corn Flakes in South Africa show, the products often need to be adjusted for local tastes.

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Lufthansa, Ryanair CEOs Lock Horns Over Airlines' Futures

Lufthansa boss Carsten Spohr has crossed swords with Michael O’Leary, his counterpart at Ryanair, vowing to defend the carrier’s domestic market from further encroachment from budget airlines despite Mr. O’Leary’s assurances that the business can but shrink.

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Thursday, September 24, 2015

Secession Is Good Business for Entrepreneurs in Catalonia

In Spain’s Catalonia region, pro-independence merchandise is getting a boost before Sunday’s parliamentary election. The cottage industry includes everything from shoes to underwear to rum.

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GM CEO Barra Says on Track to Improve Performance

General Motors Chief Executive Mary Barra said in an interview Thursday the auto maker continues to act with urgency even after resolving major facets of its ignition-switch crisis, and said her focus is steadfast on improving profit margins, not chasing market share.

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Airbus Makes Wireless Push

Airbus has asked aviation officials and regulators on both sides of the Atlantic to draft joint standards that could eventually allow pilots to use wireless technology to help fly airliners.

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Pier 1 Shares Fall as Results Disappoint

Pier 1 Imports Inc. cut its guidance for the full year and posted results for the August quarter that it said were disappointing as the home-goods retailer had lower-than-expected sales and continued to experience inventory issues.

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Nike Sales, Stock Price Surge

Nike’s sales rose a better-than-expected 5%, boosted in part by higher average selling prices and strength in its China business.

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Janet Yellen Says Fed Rate Increase Still Likely This Year

Federal Reserve Chairwoman Janet Yellen laid out her most detailed case yet for the central bank to begin raising short-term interest rates later this year, effectively lobbing a warning to financial markets that the central bank’s decision to keep rates near zero last week wasn’t a shift toward an interminable delay of monetary tightening.

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Live Video Is the New Data Hog

Watching and broadcasting live video streams on the go has a consequence for users. Mobile video is the single biggest data hog on a smartphone and live streaming isn’t designed to wait around for a Wi-Fi network.

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The Back Door to a Cyberattack

The threat posed by hackers to computers is well known, but less understood is how hackers can bring down a network by targeting the underlying equipment—the generators, thermostats, air conditioners that support a data center.

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Facebook's Free Internet Access Program Faces Backlash

In India and Indonesia, users are criticizing Facebook’s Internet.org initiative, saying it thwarts the principles of net neutrality.

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McDonald's Taps Chris Kempczinski as Strategy Chief

McDonald’s Corp. is tapping a veteran of the snacks and beverages sectors as its new strategy chief to help steer growth initiatives as the company works to reverse a three-year sales slump.

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Ad Blocking's Emerging Cottage Industry

Consumer interest in ad-blocking, fueled in part by Apple’s new mobile software release, has given rise to a cottage industry hoping to profit from it.

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Silicon Valley Woos Indian Prime Minister Narendra Modi

The heads of America’s largest tech companies will meet Indian Prime Minister Narendra Modi this weekend to discuss how they might contribute to—and benefit from—the Internet revolution in India.

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Real-Estate 'Pocket Listings' Go Mainstream

Selling a home without advertising to the public, long popular with celebrities and the wealthy, is gaining credence in major U.S. cities as the housing market heats up and inventory remains tight.

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Total CEO: Chinese Fund Boosts Russian Arctic Project

Yamal LNG has become a test of Moscow’s ability to develop big energy projects despite U.S. sanctions.

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Volkswagen to Name Porsche's Müller as Chief Executive

Volkswagen will name Matthias Müller, the current chief executive of the group’s premium-car manufacturer Porsche, as its new CEO, a person familiar with the matter said.

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Sprint Counters T-Mobile's Low-Price iPhone Plan

Sprint ramped up the battle for customers in the competition among wireless carriers and took a swipe at rival T-Mobile US by announcing a new pricing plan that leases the newest iPhone for as little as $1 a month.

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U.S. New-Home Sales up 5.7% in August

Sales of newly built homes rose in August, a sign the housing market’s modest recovery is extending into the second half of the year.

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VW European Cars Affected By Emissions Evading Software

Volkswagen has told the German government that some of its European-sold diesel passenger cars are affected by software that evaded emissions-testing standards in the U.S.

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Caterpillar Cuts Jobs, Revenue Outlook

Caterpillar announced up to 10,000 job cuts as part of a plan to reduce annual costs by $1.5 billion as the company continues to feel the impact from weakness in the energy and mining markets.

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Coke to Consolidate U.S. Bottlers Under New Supply System

Coca-Cola Co. said it plans to bring some of its top U.S. bottlers together under a new supply system, the soda giant’s latest move to cut costs amid tepid sales.

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H&M Bets Big on China

Sweden’s Hennes & Mauritz continues to bet top dollar in China with plans to open most of its new stores there this year, despite widespread concern over the slowing growth in the Asian country’s economy and after mildly disappointing third quarter results.

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U.S. Durable Orders Fall 2.0% in August

Orders for long-lasting manufactured goods fell in August, in a sign that a strong dollar and economic turmoil overseas may be restraining demand for American-made goods.

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U.S. Jobless Claims up by 3,000 Last Week

The number of Americans filing for first-time unemployment benefits rose last week, but remains consistent with a labor market that is steadily adding jobs.

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BMW Shares Fall on Emissions Concerns

BMW shares have fallen sharply after magazine Auto Bild reported one of the German car maker’s model’s emissions on the street were much higher than allowed in Europe under standardized testing conditions.

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Adidas Moves to Address Environmental Worries

Adidas is launching a three-year research program to develop soccer cleats that can be repeatedly recycled amid growing concern that the world’s rise in garment consumption is hurting the environment.

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Heineken, Carlsberg Unlikely to Benefit From SABMiller, AB InBev Megadeal

Shares in Heineken and Carlsberg jumped last week when SABMiller disclosed that AB InBev had approached it about a possible takeover. But not everyone thinks the two companies would benefit much from the divestitures that would likely come with that megadeal.

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Wednesday, September 23, 2015

Trucking Makes a Comeback, but Small Operators Miss Out

A recovering U.S. economy is driving record demand for trucking. But many smaller operators, who make up the vast majority of the roughly 470,000 for-hire fleets on the road today, are missing out on the boom.

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Fracking Firms That Drove Oil Boom Struggle to Survive

A wave of bankruptcies and closures is sweeping across the oil patch, and dozens of the mostly small, privately owned hydraulic-fracturing companies that help oil-and-gas explorers drill and frack wells are at risk.

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Videogame Contests Coming to Prime-Time TV

Videogame tournaments are coming to prime time, thanks to a partnership between Time Warner’s TBS and talent agents WME/IMG. They are creating a league that will feature live Friday night telecasts of videogame competitions on TBS for 20 weeks a year.

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Total Faces U.S. Probe Over Gas Market Trades

Some of French oil company Total SA’s market trades in the U.S. are under investigation by the Commodity Futures Trading Commission, and the company is in talks to settle the matter.

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Economic Squeeze Shrinks Korea Inc.'s Boardrooms

Top-ranked positions at South Korea’s biggest companies have been eliminated as an export dip slows growth rates.

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China Committed to Addressing U.S. Concerns, Xi Says

The Chinese government is committed to addressing U.S. concerns over market access and intellectual property, Chinese President Xi Jinping told U.S. and Chinese business leaders Wednesday.

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Boeing in Deal to Sell 300 Jets to China

Boeing has signed deals to sell 300 jets to China and establish a plant to finish work on single-aisle planes destined for the country.

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Trump Organization Weighs Bid for Puerto Rico Golf Club

Donald Trump’s Trump Organization is considering making a play for the bankrupt golf and country club that bears his name, according to the club’s bankruptcy lawyer.

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T-Mobile Stirs Wireless Carrier Wars With Low-Cost iPhone Plan

T-Mobile unveiled new pricing plans that let people lease the latest iPhone for as little as $5 a month, the latest volley in wireless carriers’ heated war for subscribers.

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Critics of Free Market Shouldn't Overreach

It has been a good month for free-market skeptics. In Britain, an avowed socialist is the new Labour Party leader. Pope Francis condemns markets for promoting “extreme consumerism.” And now, economists are joining the attack, writes Greg Ip.

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VW CEO Resigns Over Emissions Scandal

Volkswagen Chief Executive Martin Winterkorn resigned in the wake of a developing emissions scandal that has stunned the auto industry and slashed the car maker’s market value.

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Markit Flash PMI Unchanged at 53.0 in September

U.S. factory activity in September held at a 22-month low, according to a survey released Wednesday. WSJ PRO

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U.S.-EU Data Pact Should Be Invalidated, Says Advocate General

The advocate general at Europe’s highest court said a data-transfer pact between the European Union and the U.S., known as Safe Harbor, was invalid and that a national authority has the power to suspend data transfers to the U.S.

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How Car Software Can Rig a Test

Diesel powered cars use a complex mix of sensors and sophisticated engine-management software to keep track and limit emission levels.

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France's Total Eyes $1 Billion in New Cost Cuts

French oil major Total is planning a new round of cost cuts and further reductions in capital spending to shore up profitability and protect its dividend in the face of lower crude prices.

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BBA Aviation Buys U.S. Rival Landmark

Executive jet service provider BBA Aviation has agreed to buy its U.S. competitor, Landmark Aviation, for $2.07 billion.

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Tuesday, September 22, 2015

Turing to Cut Price of Drug Daraprim After Outcry

Turing Pharmaceuticals, which has come under fire for a more than 50-fold hike in the price of a drug used to fight a parasitic infection, will cut the price, though it is still working out by how much.

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China Factory Gauge Falls to 6½ Year Low

An initial gauge of Chinese factory activity fell in September to its lowest level in six-and-a-half years, suggesting a worsening slowdown in the world’s No. 2 economy.

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In Retail, Data Elbows Aside Chief Merchants

Retailers’ powerful chief merchants, once lionized for their knack for spotting trends, are finding their intuitions being displaced by algorithms.

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Volkswagen Scandal Pressures CEO

The fate of Volkswagen’s CEO, who survived a boardroom coup earlier this year, is now in jeopardy over a damaging emissions scandal as former allies and politicians demand to know what happened.

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Struggles in China Push Cisco to Strike Deal

Cisco Systems, under pressure in China, plans to announce a partnership with Chinese server maker Inspur Group during Xi Jinping’s U.S. visit.

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Boeing Military Tanker Faces Key Test

Boeing’s troubled new military re-fueling tanker is about to face its biggest test, the results of which could put the nearly $50 billion contract on a steady course—or risk new delays and added costs.

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New Weapon in Push to Lower Biotech Drug Prices

The introduction of biosimilar drugs in the U.S. hands health-care payers a weapon against rising drug prices. In Europe, though, safety concerns and low awareness have slowed the adoption of biosimilars.

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Volkswagen Emissions Scandal Puts European Rivals on Offensive

The U.S. emissions scandal engulfing Volkswagen AG has put European rivals on the offensive, as they scramble to show their own diesel engines meet standards in Europe.

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Boeing Plans New Deal in China

Boeing told staff that it’s in discussions with China about extending its strategic partnership in what’s fast becoming its most important market, according to a memo from the head of its commercial jet business.

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Google Opens Up to Wall Street

Google has long ignored most Wall Street conventions, but that is changing under its new finance chief, Ruth Porat. The Internet giant has started offering analysts 15- to 30-minute briefings on Google’s business.

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Student Loans Could Use Some Market Discipline

Misaligned incentives between students, colleges and government fuel the bad-debt problem.

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U.S. Treasury Secretary Asks China to Reaffirm Commitment to Change

Jacob Lew says Beijing’s broad reviews of foreign investments and its recent moves to stabilize stock markets have raised doubts about China.

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Axel Springer in Talks to Acquire Business Insider

Germany’s Axel Springer is in talks to acquire Business Insider in a deal that would value the U.S. digital publisher at roughly $500 million, according to a person familiar with the matter.

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General Mills Profit Jumps 24%

General Mills said profit jumped 24% in the latest quarter despite lagging sales, as the maker of Cheerios cereal and Yoplait yogurt reaped the benefits of extensive cost-cutting.

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Invention Startup Quirky Files for Bankruptcy

Startup invention company Quirky Inc., which specializes in developing products to control household appliances with smartphones and other devices, has filed for chapter 11 bankruptcy to launch a sale.

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Aetna, Anthem Defend Insurance Deals

The chief executives of Aetna and Anthem defended their planned deals before a Senate subcommittee, facing sharply critical testimony that raised questions about the impact of health-insurance consolidation.

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French Constitutional Council Rejects Uber Appeal of Transport Law

France’s highest constitutional authority rejected Uber Technologies Inc.’s challenge of a law that bans the car-hailing service’s low-cost offering Uberpop, keeping legal pressure on the firm as two top executives face trial under the law.

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Hearst Takes Stake in Complex

Hearst Corp. has taken a minority stake in Complex, a network of video-driven websites, one of several investments it’s making in digital media.

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U.S. Presses Firms to Raise China Complaints

The Obama administration is urging businesses to come forward with details about cybersecurity and other challenges they face while operating in China as President Xi Jinping visits the U.S. this week.

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Employer Health Coverage for Family Tops $17,000

The average cost of employer health coverage passed $17,000 for a family plan this year, despite continued muted growth on a percentage basis.

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Groupon to Cut Nearly 10% of Workforce

Groupon plans to cut 1,100 jobs globally over the next year as part of a restructuring of its international business.

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Coca-Cola Spent Nearly $120 Million on Research, Health Programs Since 2010

The soda company disclosed the U.S. funding as part of a transparency push after critics

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Volkswagen Emissions Scandal Relates to 11 Million Cars

Volkswagen’s emissions crisis deepened when the company said that as many as 11 million vehicles world-wide could be affected by software used to cheat emissions tests and announced plans to take a $7.27 billion provision.

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Kibbutzim Look to Future in High Tech

Israel’s kibbutzim—where members have worked for decades at equal pay for their relatively isolated, members-only communities—are staking out a greater part in the country’s tech-startup success.

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Volkswagen Emissions Probe Could Widen

Investigations into Volkswagen’s alleged manipulation of U.S. emissions tests should widen to include the entire auto industry, German and French officials said, as regulators begin to ponder whether such trickery is more widespread.

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Music-Streaming Service Deezer Plans IPO

Music-streaming service Deezer is seeking to raise capital through a public offering, as the firm faces competition from bigger and richer rivals including Apple.

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Monday, September 21, 2015

Despite Slump, China's Xi Pledges Economic Reforms

In his first interview with foreign media since Chinese stocks skidded this summer, President Xi Jinping defended his government’s economic stewardship and said slowing growth and market fluctuations won’t deter needed reforms.

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China's Workers Stumble

As factories run out of money and construction projects idle across China, there has been a rise in the last thing Beijing wants to see: unrest.

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Sinclair Held Talks for Tennis Channel

Local TV station-owner Sinclair Broadcast Group held talks to acquire the Tennis Channel in a bid to diversify its holdings.

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Suncor Buys Additional 10% Stake in Fort Hills From Total

Suncor Energy Inc. said it had agreed to boost its stake in the Fort Hills oil-sands project in Alberta to 50.8% by acquiring a 10% stake from project partner Total SA for 310 million Canadian dollars ($235 million).

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Macy's to Hire 85,000 Workers for Holidays

Macy’s Inc. said it plans to hire roughly 85,000 seasonal workers for the coming holiday season, slightly lower than levels a year earlier.

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Facebook Restricts Access to Its Data Trove

Rules that Facebook imposed in May restricting outsiders’ access to its user data are having ripple effects in academia, business and presidential politics.

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Pope Francis' U.S. Visit Snarls Delivery Businesses

Pope Francis’ six-day visit to the U.S. that begins on Tuesday ushers in a week of unprecedented logistical challenges for delivery companies, railroads, the U.S. Postal Service and many shippers as cities ramp up their security and close down roadways.

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Ex-Peanut Executive Gets 28-Year Prison Sentence

Stewart Parnell, a former Georgia peanut executive, was sentenced to 28 years in prison Monday for presiding over a coverup that led to a deadly salmonella outbreak.

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Fed Decision to Hold Steady Was a 'Close Call'

Federal Reserve officials who have spoken following last week’s high-profile policy meeting say a rate increase this year remains in the cards.

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Lennar Tops Expectations

Home builder Lennar Corp. posted double-digit percentage gains in new orders, deliveries and net income for its fiscal third quarter, underscoring a sustained but unspectacular recovery in the U.S. new-home market.

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For Multinational Firms, Brazil Becomes a Pain in the Wallet

As many multinational companies close their third-quarter books in coming weeks, their finance chiefs are likely to face a stark reality: the weakest results coming out of Brazil in more than a decade.

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GE Offers to Exchange $30 Billion of Debt for New Notes

General Electric on Monday offered to exchange up to $30 billion of outstanding debt for new notes with shorter maturities, as the company restructures and shrinks its large financial services arm.

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Reports of Bad Reactions Rise for Sterility Device

An FDA analysis found a sharp increase in reports from women about bad reactions to the sterility device called Essure, including persistent pelvic and abdominal pain.

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Relativity Sale Faces New Hurdles From Elliott Affiliates

Affiliates of Paul Singer’s Elliott Management are again attempting to thwart the sale of Relativity Media LLC, a Hollywood film and TV studio, at a bankruptcy auction next week.

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Apple Speeds Up Electric-Car Efforts

Apple is accelerating efforts to build its first electric car, designating it internally as a “committed project” and setting a target date for 2019 to finalize the product, people familiar with the matter said.

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Merger Frenzy in Health Care Accelerates

Five years after the Affordable Care Act helped set off a health-care merger frenzy, the pace of consolidation is accelerating, transforming the medical marketplace into a land of giants.

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VW Shares Drop as Emissions Scandal Spreads to Europe

Shares in Volkswagen plummeted as much as 20% as the car maker’s crisis over allegedly cheating on U.S. emissions tests spread to Europe, and the German government demanded the company prove it hasn’t manipulated emissions tests in its home market.

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Pandora Shares Rise on Copyright Development

Pandora said a copyright opinion issued Friday landed in its favor, potentially influencing an upcoming board’s decision surrounding royalty rights for the Internet radio broadcaster’s next five years.

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Lufthansa, Inmarsat to Offer In-Flight Wi-Fi

Lufthansa has agreed to become the first airline to provide high-speed Internet on short-haul and medium-haul flights using a new constellation of Inmarsat satellites.

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U.S. Existing Home Sales Down 4.8% in August

The pace of home sales slowed sharply last month, a possible sign that rising prices are causing home buyers to pull back.

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French Regulator Rejects Google Appeal on 'Right to Be Forgotten'

France’s data-protection regulator has rejected Google Inc.’s appeal of its order to expand Europe’s “right to be forgotten” to Google’s websites world-wide, setting up what is likely to be an extended legal battle.

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HBO Trounces Rivals at the Emmy Awards

HBO torched the competition at the 67th Primetime Emmy Awards, with wins for “Veep” and “Game of Thrones.”

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Sunday, September 20, 2015

China's Unlikely Ally: U.S. Tech Firms

Chinese President Xi Jinping’s visit to the U.S. starts Tuesday with meetings with tech executives in Seattle rather than government officials in Washington, but politics will still be front and center, writes Christopher Mims.

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Steakhouses Buck Trends, Prove Their Staying Power in NYC

The ascendant foodie movement may view slabs of red meat with growing disdain. But business diners in New York City haven’t gotten the memo.

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Charles Li Involved in Controversial China Hiring Moves While at J.P. Morgan

Charles Li, now the head of Hong Kong’s stock exchange, recommended the bank’s hiring of children of Chinese officials, clients and potential clients.

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Chinese Economic Outlook Too Grim, Survey Shows

While China’s economy in has weakened moderately, it wasn’t the “game-changer” that prompted global markets to fall sharply, according to a survey of companies.

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NBC Struggles to Build Up Pipeline of New Shows

While rivals CBS, ABC and Fox each launched at least two successful shows last season, NBC hasn’t had a new hit in two years, and has struggled to build up its pipeline of new shows.

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Volkswagen Halts Sales of Some Cars in the U.S.

Volkswagen has suspended sales in the U.S. of all vehicles containing its popular four-cylinder TDI engine, a company spokesman said. The move comes in light of an EPA investigation into allegations that the auto maker manipulated emissions data to get around antipollution rules.

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Dialog Semiconductor to Buy Atmel for $4.6 Billion

U.K.-based chip maker Dialog Semiconductor said it has agreed to take over U.S. peer Atmel for a total of $4.6 billion in cash and shares.

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Apple's China Apps Hacked

Some of the most popular Chinese names in Apple’s App Store were found to be infected with malicious software, researchers say, exposing a rare vulnerability in Apple’s iOS mobile platform.

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Warner Bros. in Deal to Make Chinese-Language Films

Warner Bros. will soon be shooting in Chinese. The Time Warner-owned studio said that it struck a deal with private-equity firm China Media Capital to make Chinese-language films.

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EU Web Rules Don't Discriminate Against U.S., Says Digital Chief

The EU’s digital chief Günther Oettinger says there is a need to regulate internet platforms, and U.S. concerns about protectionism are unfounded.

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'Maze Runner' Sequel Scorches Competition

Film claims No. 1 spot, but continues trend of waning interest in young-adult fare.

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'Merchant Princes' Lose Sway

The retail executives who spotted trends and once were lionized as ‘merchant princes’ are seeing their intuitions being displaced by algorithms.

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Eurozone Nears Monetary Policy's Limits

ECB officials can claim some success in buying up hundreds of billions of euros in bonds. But in many ways, the eurozone is running up against the limitations of what monetary policy can hope to accomplish, economists say.

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Bank of Finland Governor Supports Opening Door to Migrants

Central bank chief Erkki Liikanen said an influx of new workers could boost the economy and help finance welfare benefits.

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Saturday, September 19, 2015

ECB Official Sees Risks for Global Economy

The European Central Bank shares the Federal Reserve’s worries about the health of the world economy, ECB chief economist Peter Praet said in an interview with a Swiss publication published Saturday. - WSJ PRO

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Fed's Williams Sees 2015 Interest Rate Rise as 'Appropriate'

John Williams, president of the Federal Reserve Bank of San Francisco, said in a speech Saturday he believes it is still appropriate to raise short-term interest rates before year-end, reiterating a timeline that remains the preference of a majority of Fed officials.

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St. Louis Fed's Bullard Argued Against Fed Decision

Federal Reserve Bank of St. Louis President James Bullard said he argued against holding rates steady during the Fed’s policy meeting last week because he believes the economy has recovered enough to begin raising rates.

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Nike's Challenge: Staying Ahead of the Pack

Nike has long been running in a league of its own but young rivals are trying to muscle in. The company’s position as the world’s best seller of sports attire and footwear is solid and its challenge is maintaining its giant lead.

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Friday, September 18, 2015

Apple Pay Begins China Entry

Apple Pay, Apple’s mobile-payment service, has taken an important step into the Chinese market by registering an entity in the Shanghai free-trade zone.

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FDA Nominee Received Industry Fees

President Obama’s nominee to lead the FDA received more than $200,000 in consulting fees from pharmaceutical companies between 2009 and early 2015, according to corporate data. The fees were donated to nonprofit groups, a government spokesman said.

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UPS Tests a 3-D Printing Service

United Parcel Service and other package delivery giants are getting into 3-D printing services to better understand if the emerging technology will help or hinder their delivery businesses.

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A&P Insiders Took Home Millions in Year Before Bankruptcy

Grocery chain A&P paid out $9.4 million in bonuses and other additional pay to insiders in the 12 months before its July bankruptcy, but it hasn't publicly revealed the identities of the insiders.

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Fiat Chrysler to Offer Richer Bonuses to Hourly Workers

Fiat Chrysler is prepared to pay profit-sharing bonuses of $12,000 to its newer hourly workers if the company’s North American profit margin reaches or exceeds 10%.

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Justice Department Delays Ruling on Aetna-Humana Merger

Federal authorities reviewing the proposed Aetna-Humana merger have asked for more information, pushing back the deadline to rule on the deal, the companies said.

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EPA Alleges Volkswagen Dodged Emissions Rules

The U.S. Environmental Protection Agency accused Volkswagen of circumventing air-pollution standards with software installed on nearly a half million cars sold in the U.S.

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Electric-Car Perks Put Norway in a Pinch

Rich subsidies for emissions-free vehicles are straining the finances of a municipal tunnel that collects no fees from an island’s growing population of battery-powered Nissan Leaf and Tesla Model S cars.

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Coca-Cola Could Face $3.3 Billion Tax Liability

Coca-Cola Co. disclosed Friday that it has been notified by the Internal Revenue Service that the company may be liable for $3.3 billion, plus interest, in additional federal income taxes.

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U.S. Household Wealth Hit Record in Second Quarter

The wealth of American households climbed to a new peak in the second quarter, bolstered by rising real-estate values that more than compensated for softness in the stock market.

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Uber Meets Its Match in France

The company’s growth is snarled by an entrenched French business culture that gives government and rivals great sway over Silicon Valley swagger.

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NRG to Split Off Renewable Businesses

NRG Energy unveiled plans to separate its expensive clean-energy businesses, as part of a series of moves by the power producer to simplify its structure and cut down on expenses and debt.

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Johnson Controls to Shed 3,000 Jobs

Johnson Controls said Friday that it would cut some 3,000 jobs, or 2.5% of its total employees, as part of a cost-saving program.

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Fed Rate Decision Keeps Monetary Debate Raging

The monetary doves have won the battle, but not the war. Not yet, writes Greg Ip. Janet Yellen and her colleagues still think they’ll be ready to boost rates by the end of this year.

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China's Strategy in U.S. Car Market: Parts First

China’s automotive industry, seeing parts manufacturing as a vehicle into mature markets, is building and acquiring components plants abroad.

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Thursday, September 17, 2015

UAW Pact With Fiat Chrysler Lifts Wages, Profit-Sharing

The UAW’s new tentative labor pact with Fiat Chrysler will boost pay for hourly workers, increase profit sharing and add bonuses, say people familiar with the matter.

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Defaults Mount in Beleaguered Energy Industry

Energy industry experts say more oil-and-gas companies are poised to follow Samson Resources into bankruptcy as oil prices remain low following a steep drop that began last year.

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The Data-Driven Rebirth of a Salesman

Silicon Valley startups are automating sales departments for a shot at the more than $23 billion companies spend each year on sales software.

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U.S. Workplace Fatalities Likely at Highest Level Since 2008

The number of workers whose deaths were tied to their jobs in the U.S. likely rose last year to the highest number since 2008, according to a study released by the Labor Department.

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Missouri Clamps Down on Cities Raising Minimum Wages

Republican-led Legislature overrides Democratic governor’s veto, joining other states in quashing local moves.

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Dolans Cash Out of Cablevision

The Dolans have toyed with selling Cablevision numerous times, but finally found the right match—and price—with Europe’s Altice. Now, the cable-TV family is expected to turn its attention to its other holdings: Madison Square Garden and AMC Networks.

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Fed Leaves Interest Rates Unchanged

The Federal Reserve left short-term interest rates unchanged after weeks of market-churning debate at the central bank about whether it was time to end an era of near-zero rates in acknowledgment of the stronger domestic U.S. economy and job market.

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American Airlines Halts Flights Amid Tech Issues

American Airlines said technical issues had forced it to halt all flights heading to its big hubs in Dallas/Fort Worth, Chicago and Miami.

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McDonald's Looks Outside for Chief Strategy Officer

McDonald’s Corp. is conducting a search for an outsider to replace its chief strategy officer, who was let go in a recent management shuffle, according to people familiar with the matter.

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Central Banks' Lesson: Easy Money Alone Isn't a Growth Salve

Central bankers injected roughly $8 trillion into the global economy since the financial crisis. In return, they got a low-growth rut. As the Fed gets set to raise interest rates, the big lesson: Cheap money alone can’t solve the world’s economic ills.

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Student Loans Don't Restrain Young Home Buyers

Student debt isn’t holding back most young professionals from buying a home, according to a report by Zillow, contradicting warnings that rising student-debt levels will be a headwind for the housing market.

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Apple Wins Ruling in Patent Case vs. Samsung

A federal appeals court ruled Apple was entitled to an injunction barring rival Samsung Electronics from incorporating features into its devices that infringe the iPhone maker’s patents.

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U.S. Charges GM with Wire Fraud, Concealing Facts on Ignition Switch

GM will pay $900 million to settle criminal charges with the U.S. Justice Department for the auto maker’s botched handling of an ignition-switch defect that led it to recall millions of vehicles and was linked to more than 100 deaths.

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SABMiller CEO Clark Faces Challenge

The chief executive of SABMiller PLC is grappling with the biggest challenge—or opportunity—the beer giant has faced in decades.

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Disney in Talks to License 'Star Wars' Films to Netflix in Latin America

Walt Disney Co. is in talks with Netflix Inc. to put the five “Star Wars” movies it controls on the digital streaming service in Latin America, said people with knowledge of the discussions.

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GM Settles Ignition-Switch Lawsuits

GM settled nearly 1,400 lawsuits tied to a defective ignition switch and other recalls.

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Verizon Says Earnings Next Year May Be Flat

Verizon said its earnings next year may plateau, as the company grapples with a changing wireless business model and the pending sale of some operations.

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Samson Resources Files for Bankruptcy Amid Oil Slump

KKR & Co.’s Samson Resources Corp. said late Wednesday that it had filed for chapter 11 bankruptcy protection and was entering into the latest stage of a restructuring plan that aimed to avoid an interruption to operations.

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U.S. Housing Starts Fall 3% in August

Home-building in the U.S. slipped in August, with declines in both single-family and apartment-building construction.

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U.S. Jobless Claims Fall By 11,000 Last Week

The number of Americans filing for first-time unemployment benefits fell last week, another sign the labor market is improving.

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No Wonder: Twinkies Maker Adds Bread

Hostess Brands doesn’t live by Twinkies alone. Two years after being resurrected by private-equity owners, the maker of Ding Dongs, Ho Hos and its famous creme-filled cylindrical cake, is setting its sights on bread.

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Iran Seeks Money, Technology From German Firms

Iran hopes German firms will bring money, technology and manufacturing savvy to its stagnant economy after being hobbled in recent years by international economic sanctions.

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Shell's Takeover of BG Faces Hurdle in Australia

Shell’s $70 billion takeover of BG Group hit a snag after Australia’s antitrust regulator flagged concerns that the deal might squeeze domestic supplies of natural gas and drive up prices.

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TeliaSonera to Exit Eurasian Region

Scandinavian telecom operator TeliaSonera will exit its Eurasian operations and focus more on its Swedish and European business.

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Altice to Buy Cablevision

European cable company Altice confirmed it would buy Cablevision Systems Corp. for about $7.7 billion, a deal that will create the number four cable operator in the U.S. market.

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Saudi Aramco Names Amin H. Nasser as President

Saudi Arabia’s state-owned giant oil company, Saudi Aramco, named a new president and chief executive following a shake-up of the country’s ministerial elite earlier this year.

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Wednesday, September 16, 2015

Many More Now Have Insurance

A comprehensive look at U.S. households found the number of Americans without health insurance dropped sharply last year, while economic growth did little to dent poverty rates or raise incomes.

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Target Workers Vote to Join Union

A group of employees at a Target Corp. store in New York City have voted to unionize, the first time in the retailer’s history that its workers have decided to join a labor union.

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How Does Paris Stay Chic? It Imports Brooklyn

Paris has embraced the ways of hipsters with a six-week showcase of goods sourced in Brooklyn. Some longtime Brooklyn connoisseurs, however, see the event as a new low in the borough’s fall from gritty, countercultural grace.

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Altice In Advanced Talks to Buy Cablevision

Altice SA is in advanced talks to buy Cablevision Systems Corp., the latest move by the European cable company to build a communications empire in the U.S.

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H-P Takes an Ax to EDS Legacy

Hewlett-Packard’s big job cuts this week are the coda to a troubled acquisition that once was viewed as a way to propel the Silicon Valley pioneer in to computing’s mainstream but instead contributed to it falling behind.

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Republic's Feud With Pilots Union Highlights Industry Strains

The worsening feud between Republic Airways and its pilots union highlights strains across the U.S. regional-airline industry, which is contending with a sudden pilot shortage.

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Expedia-Orbitz Deal Gains Antitrust Clearance

The Justice Department said the $1.3 billion takeover isn’t likely to hurt competition.

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Oracle Reports Decline in Profits

Oracle said its first-quarter profit fell as the company recorded higher costs and lower sales, driven again by a double-digit decline in new software licenses.

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How China Boosts Its Tech Startups

Tech startups are considered by ambitious young Chinese as among the coolest places to work. China Circuit columnist Li Yuan writes that those startups have an unlikely advocate: the Chinese government.

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GM, Justice Dept. Near Ignition-Switch Deal

The U.S. Justice Department is expected to unveil a criminal settlement with General Motors as soon as this week over the auto maker’s failure to recall millions of vehicles equipped with a defective ignition switch, said people familiar with the matter.

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UAW Could Prove Ally for Chrysler

The clock is ticking again for Fiat Chrysler as it searches for a dance partner—and this time Chief Executive Sergio Marchionne may have found his wingman.

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BlaBlaCar Valued at $1.5 Billion After Funding

Ride-sharing firm BlaBlaCar has closed a new round of venture-capital funding at a valuation of about $1.5 billion, expanding the number of European tech firms among the most highly valued private, venture-backed companies world-wide.

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Tech Firms Venture Into New Territory: Lending

Intuit, PayPal and Square already know how much money millions of small businesses are bringing in each day. Now these tech firms are stepping up efforts to mine that data to get into the lending business.

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Student Loans Could Use Some Market Discipline

Misaligned incentives between students, colleges and government fuel the bad-debt problem

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Uber Rivals Form International Alliance

Two of Uber’s biggest rivals—Lyft and Chinese startup Didi Kuaidi—have agreed to link their apps to effectively create one international ride-hailing service.

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Annie's Inc. Grows, Keeps Its New Parent in Check

Natural foods maker Annie’s, bought a year ago by General Mills, has expanded rapidly with new products—the latest being yogurt—but it also has had has to push back against its giant parent.

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Senators Further Prod Auto Makers on Cybersecurity

Two U.S. senators further prodded auto makers for updates on how vulnerable their vehicles are to cyberattacks after researchers this summer demonstrated an ability to remotely commandeer a Jeep’s engine and brakes from miles away.

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Trade Slump Threatens Global Growth, Warns BHP Chief

The head of the world’s largest mining company fears a slump in international trade will jeopardize global growth just as major economies are struggling to prevent another downturn.

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Apple Delays Update to Watch Software

Apple delays the release of a much-anticipated software update for its smartwatch, after finding a bug during testing.

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U.S. Household Incomes Fell in 2014

Incomes in the U.S. edged lower in 2014, the latest sign an economic expansion that began five years earlier has done little to improve living standards for a broad swath of the nation.

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Home Builder Confidence Rises

A gauge of home-builder sentiment rose to its highest level since November 2005, a sign the U.S. housing market is shaking off worries about the global economy and volatile financial markets.

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U.S. Consumer Prices Fall 0.1%, Muddling Fed Decision

Consumer prices fell in August due largely to depressed oil markets, marking the first drop since January and complicating the Federal Reserve’s debate over when to raise interest rates.

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FedEx Trims Outlook on Weak Demand

FedEx trimmed its earnings outlook as the package-delivery giant sees weak demand in its freight segment and higher costs in its ground segment.

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Companies Fast Track Hiring

Fed up with recruiting that takes weeks or months, employers are experimenting with ways to take on new employees in a matter of days or even hours.

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SABMiller Gets Takeover Approach From AB InBev

SABMiller said it had received a takeover approach from Anheuser-Busch InBev, a deal that could create a $245 billion giant that would dominate much of the global beer market.

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Glencore Raises $2.45 Billion in Share Issue

Commodities giant Glencore said it has raised about $2.45 billion in a share placing to institutional investors, marking a notable step in the fulfillment of its recently announced debt-reduction plan.

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Inditex Profit Boosted by Weak Euro

The retailer behind the Zara fast-fashion chain posted a 26% increase in net profit for the first half of its fiscal year, amid surging sales that were helped by a weaker euro.

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Syngenta Aims to Boost Sales by $6 Billion

Syngenta moved to further placate investors upset by the pesticide maker’s resistance to Monsanto’s takeover overtures by announcing a pipeline of new products with sales potential of more than $6 billion.

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Uber's Application for Delhi License Rejected

Uber‘s application for a license to operate in the Indian capital has been rejected for a second time, according to an order passed by transport authorities in the city.

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Richemont Sales Lifted by Currencies

Richemont reported a 16% increase in sales in the five months to the end of August as the luxury giant benefited from currency swings and strong demand in Europe, but said Hong Kong remained tough.

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China Bear James Chanos Roars After Years of Losses

Noted short seller and China bear James Chanos notched gains in three hedge funds in August as China’s stock market plunged and investors fretted that its economy may be in worse shape than many had thought.

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Hyundai Signals High Performance Ambitions With New Brand

Hyundai has outlined its upmarket intentions at this week’s Frankfurt Motor Show in Germany by showcasing a futuristic super car and a new brand that it hopes to begin selling within two years.

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Tuesday, September 15, 2015

Comcast to Offer Data Services to Big Firms Nationwide

Comcast will start selling Internet and phone services to large businesses nationwide, even those located outside its service area, as it seeks to steal away more customers from telecom providers like AT&T and Verizon.

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GE Move Rekindles Partisan Bank Fight

General Electric will move around 500 U.S. jobs overseas to avoid losing business to foreign rivals, a decision prompted by the lapse of the U.S. Export-Import Bank

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Ex-Spies Join Cybersecurity Fight

When firewalls fail to thwart cyberattacks, former Israeli spies are coming to the rescue. Their job: Befriend hackers to find out about attacks before they even happen.

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Big Retailers, Delivery Firms Face Struggle to Find Holiday Workers

With unemployment at a seven-year low, e-commerce booming and holiday hiring beginning to pick up, retailers and logistics contractors are struggling to find seasonal workers. Soon, UPS and FedEx will face the same problem.

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A Hedge Fund's Tempur Tantrum

In an era of increased pressure from activist investors, H Partners’ victory at Tempur Sealy shows the peril of underestimating the tiny hedge fund.

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UAW, Fiat Chrysler Reach Tentative Labor Deal

The United Auto Workers union and Fiat Chrysler Automobiles NV reached a tentative labor deal Tuesday, hammering out a template the union hopes can be used for later talks with Detroit’s other two big auto makers.

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Hewlett-Packard Expects Up To 30,000 More Job Cuts

Hewlett-Packard said Tuesday that it plans to cut another 25,000 to 30,000 jobs as it whittles down its services group and restructures the company into separate entities.

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European Auto Industry Extends Winning Streak in August

The European auto industry extended its winning streak to two years in August, but concerns about meager profit prospects in the region overshadow expectations for further growth.

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Sysco Outlines Plan to Improve Annual Operating Income

Sysco Corp. on Tuesday outlined a three-year plan to improve its annual operating income by $400 million through more stringent cost management and aggressive sales efforts.

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Subway Says Co-Founder Fred DeLuca Has Died

Subway co-founder and Chief Executive Fred DeLuca, who built the sandwich chain into the world’s biggest restaurant company by number of outlets, died Monday evening at the age of 67.

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CBS's Nina Tassler to Step Down

Nina Tassler, the chairman of entertainment at CBS and an architect of the network’s prime-time success for almost two decades, is stepping down at the end of the year.

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UAW, Fiat Chrysler Extend Current Contract on Hourly Basis

The United Auto Workers union said just after midnight Tuesday it would extend its labor agreement with Fiat Chrysler on an hour-by-hour basis, signaling hope it can reach a tentative pact on a new four-year deal overnight.

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Universal Studios Japan Owners in Talks to Sell Stake

Goldman Sachs and the other owners of Universal Studios Japan, are in talks to sell a stake in the theme park to Comcast’s NBCUniversal, in a deal that could value the Japanese company at US$6 billion.

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House Plans Vote on Bill to Lift Ban on Oil Exports

The House plans to vote in coming weeks on a bill to lift the four-decade ban on oil exports, a move likely to reignite debate over what to do with oil from the domestic production boom.

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Iranian Returnee Builds Bridge for Western Business

Following the Iran nuclear deal, there is a new urgency for middlemen eager to help bring back Western business.

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For the Fed, Markets May Be Flashing a Wait Sign

As Fed policy makers ponder this week whether and when to raise rates, an important factor in their decision will be whether to wait to see if the recent turmoil in stocks, bonds and currencies point to unanticipated troubles in the global economy, writes Greg Ip.

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Bezos' Space Startup Blue Origin Lifting Off in Florida

A space startup run by Amazon Chairman Jeff Bezos announced a roughly $200 million investment to build rockets and capsules in Florida, and then launch them from a nearby Cape Canaveral pad.

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Prada Hit by Weak Sales in China, Hong Kong

China and Hong Kong were once Prada’s hottest areas for growth. Now, they’re the biggest drag on slumping profits.

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Taco Bell to Open Upscale 'Cantina' Restaurants

Taco Bell is trying to go upscale, with plans to serve tapas-style appetizers and alcoholic drinks at new “Cantina” restaurants aimed at better competing in urban markets with fast-casual chains like Chipotle.

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FDA Orders R.J. Reynolds to Stop Selling 4 Cigarette Products

The FDA ordered R.J. Reynolds Tobacco to stop selling four cigarette products after ruling the Reynolds American unit hadn’t shown the products to be “substantially equivalent” to previous versions.

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GE to Move 500 U.S. Jobs Overseas Due to Ex-Im Bank Closure

General Electric will move around 500 U.S. jobs overseas to avoid losing business to foreign rivals, a decision was prompted by the lapse of the U.S. Export-Import Bank.

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Uber Accuses France of Trampling on Sharing Economy

Car-hailing service Uber argued in court that the French government is trampling over the sharing economy, as it bids to overturn a new transport law which threatens two Uber executives with jail time.

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U.S. Industrial Production Fell 0.4% in August

U.S. industrial production fell in August, possibly dampened by economic trouble overseas and volatile financial markets.

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After Speedy Recovery, Will Fed Tap the Brakes on U.S. Auto Sales?

Few parts of the U.S. economy better illustrate the benefits and perils of the Federal Reserve’s near-zero interest-rate policies than the auto industry, and few will be as exposed to the fallout if central bank officials decide this week to raise rates.

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U.S. Retail Sales Rise 0.2% in August

U.S. consumers boosted their spending in August, giving the Federal Reserve one more piece of good economic news as it heads into a closely watched meeting this week.

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N.Y. Business Conditions Fail to Improve

New York state business conditions failed to improve in September after unexpectedly tumbling in August, despite economists’ expectations for a rebound. - WSJ PRO

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BMW, Toyota May Deepen Alliance

BMW and Toyota are discussing the possible expansion of their existing alliance, BMW Chief Finance Officer Friedrich Eichiner said.

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Beef's Meaty Profits Slow Antibiotic-Free Push

Sky-high cattle and beef prices are hampering efforts to get the beef industry to follow the sharp curbs that major chicken processors have made on the use of antibiotics on farms.

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GE Shortlists Buyers for Japan Commercial-Finance Operations

General Electric has shortlisted several Japanese firms, including the leasing units of megabanks Sumitomo Mitsui Financial and Mitsubishi UFJ Financial, as buyers for its Japanese commercial-finance operations.

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Gazprom Banks on China

Gazprom’s finance chief expects a major gas-supply deal the Russian company struck with China last year to be profitable despite the current slump in global energy prices.

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BMW's CEO Faints at Auto Show Event

BMW AG’s Chief Executive Harald Krüger fainted on stage at the Frankfurt international auto show while he was hosting a news conference.

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Monday, September 14, 2015

Stanford Business-School Dean Stepping Down

Garth Saloner, dean of Stanford University’s Graduate School of Business, announced Monday that he will step down from his post.

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The Growth of Refugee Inc.

The mass migration of hundreds of thousands of asylum seekers in Europe is giving shape to an industry that is attracting everyone from small Greek shop owners to private-equity firms.

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Some Companies Balk at Disclosing Details of Political Giving

Shareholders are hitting a wall with some major companies in their effort to persuade them to disclose how they spend corporate money to support political candidates.

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