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VW says installed no defeat software on 3-litre V6 diesels

VW says installed no defeat software on 3-litre V6 diesels

FRANKFURT: Volkswagen AG said on Monday it had installed no software on its 3-litre V6 diesel motors to improperly change emissions values and that it was cooperating fully with the U.S. Environmental Protection Agency. Earlier, U.S. environmental regulators said Volkswagen had installed emissions-control cheating devices in diesel luxury vehicles in model years 2014 through 2016, […]

November 2, 2015 | By | Reply More
Wall St. up after factory data; Nasdaq 100 hits 15-year high

Wall St. up after factory data; Nasdaq 100 hits 15-year high

REUTERS: U.S. stocks climbed on Monday after a raft of manufacturing data globally and strength in healthcare shares following more acquisition activity. The gains continued Wall Street’s momentum in the first trading day of the month after the major indexes posted their best monthly performance in four years in October. The Nasdaq 100 touched its […]

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Citron publishes no new allegations against Valeant, shares rise

Citron publishes no new allegations against Valeant, shares rise

NEW YORK: Influential short-selling firm Citron Research did not publish new allegations against Valeant Pharmaceuticals International Inc on Monday as many investors had anticipated, giving the beleaguered shares of the Canadian drugmaker a boost. Citron had promised in a tweet on Friday to “update” the story on Monday, following on from its scathing report in […]

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Ecuador-Occidental arbitration award reduced to US$1 billion: Correa

Ecuador-Occidental arbitration award reduced to US$1 billion: Correa

QUITO: A World Bank tribunal reduced to about US$1 billion the amount Ecuador must pay Occidental Petroleum Corp in compensation for seizing the U.S.-based company’s assets, President Rafael Correa said on Monday. The new amount is a reduction of around 40 percent of the original order. Ecuador’s government decided to terminate Occidental Petroleum’s contract in […]

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US expands Volkswagen emissions probe to luxury models

US expands Volkswagen emissions probe to luxury models

WASHINGTON: U.S. environmental regulators on Monday said Volkswagen AG had installed emissions-control cheating devices in diesel luxury vehicles in model years 2014 through 2016. The move pulls Volkswagen’s luxury brands, Porsche and Audi, deeper into the emissions cheating scandal that has engulfed the Volkswagen brand. The EPA said the new investigation centers on 3.0 liter […]

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US manufacturing activity slows marginally in October

US manufacturing activity slows marginally in October

WASHINGTON: US manufacturing activity in October hit a 2-1/2-year low, but a rise in new orders offered hope for a sector buffeted by a strong dollar and relentless spending cuts by energy companies. Other data on Monday (Nov 2) showed construction spending rose in September, indicating the economy remained on firmer ground despite signs of […]

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Goldman Sachs says Valeant has long road ahead, cuts rating

Goldman Sachs says Valeant has long road ahead, cuts rating

REUTERS: Goldman Sachs on Monday downgraded Valeant Pharmaceuticals International Inc’s stock, nearly two weeks after an influential short seller accused the Canadian drug maker of cooking its books. While investors have fled the company’s stock, which has lost a third of its value since Citron Research published its report on Oct. 21, sell-side analysts have […]

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Shire to buy Dyax for US$5.9 billion, still wants Baxalta

Shire to buy Dyax for US$5.9 billion, still wants Baxalta

LONDON: Shire Plc has agreed to buy U.S. rare disease specialist Dyax Corp for about US$5.9 billion: and potentially up to US$6.5 billion: while still pursuing a five times larger unsolicited bid for Baxalta Inc . The Dyax deal, the latest in a series of purchases by the acquisitive Dublin-headquartered company, will give it access […]

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HP Inc shares soar, HPE's volatile in first day of trade since split

HP Inc shares soar, HPE's volatile in first day of trade since split

REUTERS: Shares of HP Inc , which houses the legacy printer and PC business, soared as much as 14.4 percent on Monday, while those of Hewlett Packard Enterprise Co , considered the faster-growing of the two, fell as much as 5.8 percent. The shares of the two companies, carved out of Hewlett-Packard Co, were trading […]

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Visa to buy Visa Europe in deal worth as much as US$23 billion

Visa to buy Visa Europe in deal worth as much as US$23 billion

REUTERS: Visa Inc said on Monday it would buy former subsidiary Visa Europe Ltd for up to US$23.3 billion in a deal that will give the world’s largest payments network a chance to cut costs over the long term and raise fees in the second-biggest card market. The price for the long-anticipated deal was higher […]

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