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Jaguar Land Rover to cut over 10% of workforce at UK Halewood factory - union

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British carmaker Jaguar Land Rover (JLR) will cut over 10% of the workforce at its northern English Halewood factory due to slower than expected growth of two models, the Unite Union said on Wednesday.

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BlackRock, partners eye initial $500 million for climate fund

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A BlackRock-backed group aims to raise an initial $500 million for a private equity fund that will invest in climate change-linked infrastructure upgrades in emerging markets.

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Exclusive: Bank of America to hire 50 bankers for Asia dealmaking team in 2020 - sources

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Bank of America Corp will recruit about 50 bankers for its investment team in Asia this year, as it pushes to bulk up its dealmaking business and shore up revenues from the unit globally, three people with direct knowledge of the matter said.

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Sainsbury's turns to retail boss as CEO checks out

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Sainsbury's has picked retail boss Simon Roberts to succeed CEO Mike Coupe, the architect of the British retailer's failed bid for rival Asda who will step down in May after six years at the helm.

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Five facts about new Sainsbury's CEO Roberts

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Simon Roberts has been appointed to replace Mike Coupe as the boss of Britain's second-largest supermarket group Sainsbury's.

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Global Markets: Stocks shake off China virus worries, dollar gains

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World stock markets looked to be getting back to full strength on Wednesday, as updates from China about the spread of a new flu-like coronavirus raised hopes the outbreak would be contained.

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Powered by SUVs, Hyundai turns in best quarter since early 2017

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Hyundai Motor Co turned in its best quarterly operating profit in over two years and said it was on track for higher profit margins in 2020, powered by more sales of sport-utility vehicles (SUVs) such as the Palisade and Kona.

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'Pay-for-delay' deals over drug generics unlawful - EU court adviser

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An adviser to the European Court of Justice said on Wednesday that an agreement to settle a patent dispute between a pharmaceutical company and generic competitors may harm competition.

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Brazil to start discussions on joining OPEC in July - energy minister

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Brazil will start discussions on joining the Organization of the Petroleum Exporting Countries during a visit to Saudi Arabia in July, its energy minister Bento Albuquerque said on Wednesday.

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Taiwan calls on China to share 'correct' virus information

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Taiwan President Tsai Ing-wen called on China on Wednesday to share "correct" information about a new coronavirus and for the World Health Organisation (WHO) not to exclude Taiwan from collaboration on the outbreak for political reasons.

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Ted Baker's tale of management and accounting woes

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British fashion retailer Ted Baker said on Wednesday that inventory on its balance sheet was overstated by 58 million pounds ($75.7 million) - more than double its preliminary estimate.

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New blow for Ted Baker as accounting scandal doubles in size

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An accounting scandal at Ted Baker is more than twice as big as initially estimated, the British fashion retailer said on Wednesday, adding to a stream of bad news over the past year and sending its shares down as much as 10%.

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Australia's Westpac to appoint McFarlane as chairman - AFR

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Westpac Banking Corp is set to appoint former Australia and New Zealand Banking Group chief executive John McFarlane to succeed chairman Lindsay Maxsted, the Australian Financial Review (AFR) reported on Wednesday.

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Asian gasoil margins at lowest since mid-2017, new fuel rules yet to bite

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Steady supply and a lack of buying interest have pushed Asian refining margins for gasoil to their lowest in more than 2-1/2 years, and an expected demand boost following a switch to cleaner marine fuels this year has yet to materialize.

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'Death Cross,' growth abroad threaten U.S. dollar

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Storm clouds are gathering over the U.S. dollar, threatening a two-year rally in the currency that has squeezed corporate profits and angered President Donald Trump.

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Saudi Arabia raises $5 billion as bond investors brush off Gulf jitters

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Saudi Arabia has raised $5 billion in bonds after receiving around $20 billion in orders, a sign that an escalation in geopolitical tensions in the Gulf has not deterred investors looking for high returns amid low global rates.

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Credit Suisse pleased with fourth quarter despite spy scandal - CEO

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Credit Suisse had a good fourth quarter despite a spying scandal over covert surveillance of senior executives, Chief Executive Tidjane Thiam said on Wednesday.

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Israeli electric company ends power cuts to West Bank after Palestinians pay debt

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Israel's state-owned electric company said on Wednesday it was ending power cuts to the occupied West Bank after the Palestinians' main power distributor paid off a chunk of debt.

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Prince Charles in spotlight, Trump heading home - What to watch for on Wednesday

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The annual meeting of the World Economic Forum rolls on in the Swiss ski resort of Davos.

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Daimler 2019 profit down by half, diesel scandal weighs

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German luxury car maker Daimler on Wednesday issued its third profit warning for 2019, as costs related to the diesel scandal, heavy investment in electric vehicles and production issues weighed on earnings.

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