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Mercedes-Benz US November sales down 12 percent

Mercedes-Benz US November sales down 12 percent

FRANKFURT: Mercedes-Benz sales in the United States dropped 11.7 percent in November, due to popular model lines running out and a limited availability of top-selling SUVs, the luxury division’s parent company Daimler said on Wednesday. The diesel emissions scandal rocking Europe’s largest carmaker Volkswagen had no impact on Mercedes’ U.S. sales, a Daimler spokeswoman said, […]

December 2, 2015 | By | Reply More
Unfazed by dieselgate, Volvo rolls out new sedan

Unfazed by dieselgate, Volvo rolls out new sedan

GOTHENBURG, Sweden: Chinese-owned Volvo Car Group on Wednesday launched a new model in the hope of gaining ground in a premium auto market dominated by German luxury rivals, and said it expected sales of the new car to hit roughly 50,000 in 2017. Volvo is in the midst of a sweeping overhaul of its model […]

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European stocks await ECB stimulus hopes

European stocks await ECB stimulus hopes

LONDON: Weak inflation data spurred hopes the European Central Bank could deliver more stimulus this week, though European bourses traded in a tight range on Wednesday (Dec 2), Frankfurt and Paris ceding spartan ground while London rose slightly. The data appeared to cement hopes that the ECB – which announces the outcome of its latest […]

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Yellen says 'looking forward' to day of rate hike

Yellen says 'looking forward' to day of rate hike

WASHINGTON: Federal Reserve Chair Janet Yellen said on Wednesday she was “looking forward” to a U.S. interest rate hike that will be seen as a testament to the economy’s recovery from recession. In prepared remarks to the Economic Club of Washington, Yellen did not indicate if she still expected a rate hike would be warranted […]

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America is to tighten its visa-waiver programme

America is to tighten its visa-waiver programme

DESPITE what Donald Trump may think, America is not always an easy place for a foreigner to breeze into. Anyone who has braved the immigration queue at JFK will testify to that. But entering the country might be about to become tougher. In the wake of the recent terrorist attacks by IS, America is looking […]

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Target in US$39 million settlement with banks over data breach

Target in US$39 million settlement with banks over data breach

REUTERS: Target Corp has reached a roughly US$39 million settlement to resolve claims by banks seeking to recoup money they spent reimbursing fraudulent charges and issuing new credit and debit cards because of the retailer’s late 2013 data breach. Papers outlining the preliminary settlement were filed on Wednesday with the federal court in St. Paul, Minnesota. […]

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Nokia shareholders approve Alcatel-Lucent merger

Nokia shareholders approve Alcatel-Lucent merger

HELSINKI: Shareholders in Finnish telecom group Nokia approved the company’s acquisition of French-American rival Alcatel-Lucent at an extraordinary general meeting in Helsinki on Wednesday (Dec 2). They backed the merger plan without a vote, since none of the shareholders present raised any objections. “While our portfolios are highly complementary, our cultures have many similarities,” chief executive Rajeev […]

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People's beliefs and motives influence the effectiveness of green policies

People's beliefs and motives influence the effectiveness of green policies

In December talks in Paris involving more than 200 countries may result in a new agreement aimed at reducing carbon emissions. In the months leading up to the conference, The Economist will be publishing guest columns by experts on the economic issues involved. Here, Céline Nauges, of the Toulouse School of Economics, and Sarah Ann […]

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Delta Air Lines unit revenue up in November despite Paris attacks

Delta Air Lines unit revenue up in November despite Paris attacks

REUTERS: Delta Air Lines Inc on Wednesday said it earned more per mile in November than a year ago, as earlier cuts to its flight capacity abroad appeared to shield it from the impact that attacks in Paris may have had on travel demand. Delta, the third-largest U.S. airline by capacity, said in a news […]

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CVC Capital Partners, GIC to invest in Britain's RAC

CVC Capital Partners, GIC to invest in Britain's RAC

LONDON: Private equity and investment advisory firm CVC Capital Partners and Singapore’s sovereign wealth fund GIC have formed a partnership to take a majority stake in RAC Ltd, Britain’s second-largest roadside recovery group, in a deal said to be worth 2.2 billion euros (S$3.28 billion). The agreement involves the purchase of close to 50 per […]

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