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UPDATE 1-Soccer-Manchester United sign new partnership deal with Alibaba

Premier League soccer club Manchester United have agreed a partnership deal with Alibaba which will see the Chinese e-commerce giant provide club content on its online video company Youku.com and develop a future store on the company’s business-to-consumer platform Tmall.com. The deal is the latest move by United to engage with the Chinese market following the launch of a Chinese language app and plans for “experience centres” across the country. “We are always looking for new ways to engage with fans there and this partnership with Alibaba enables them to connect with the club directly through one of …read more […]

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CEE MARKETS-Poland's PKN Orlen plunges, currencies continue rebound

Shares in PKN Orlen fell on Friday after Poland’s biggest refiner surprised investors with a plan to take over state utility Energa to strengthen its position in the electricity market. The offer of seven zlotys per share, which values Energa at 2.9 billion zlotys ($743.78 million), caused PKN Orlen’s shares to fall more than 10% in early trade, as investors fretted over the prospect of the company’s involvement financing a costly power-plant project. Energa plans to build a coal-fuelled power plant in Ostroleka, in northeastern Poland, at a cost of around 6 billion zlotys, but it’s struggling to …read more […]

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UPDATE 1-China-built Tesla cars recommended for subsidies – ministry

China’s industry ministry has placed Chinese-built Tesla Inc. Model 3 cars on a list of vehicles recommended to receive subsidies for new energy vehicles, a move that will help the U.S. firm’s push into the world’s biggest auto market. Two variants of Tesla Model 3 vehicles are listed on a recommendation list for China’s generous subsidies for new energy vehicles (NEV), according to a post on the website of China’s Ministry of Industry and Information Technology. The California-based electric vehicle maker, which is building cars in a $2 billion factory in Shanghai, aims to make more than 1,000 …read more […]