Business News

Tesla Inc has slashed prices on its Model 3 electric car in China.

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A Japanese court on Sunday extended for 10 days the detention of ousted Nissan Motor Co chairman Carlos Ghosn, who is facing new allegations of making the car maker shoulder $16.6 million in personal investment losses.

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U.S. Treasury Secretary Steven Mnuchin said on Saturday that President Donald Trump told him he had “never suggested firing” the chairman of the U.S. Federal Reserve.

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A U.S. federal judge reviewing an agreement between the government and CVS Health Corp allowing it to buy health insurer Aetna has indicated that he will not halt most integration between the two companies.

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U.S. President Donald Trump has privately discussed the possibility of firing Federal Reserve Chairman Jerome Powell, a move that could roil already volatile financial markets, two sources familiar with situation said on Saturday.

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A Brazilian judge overturned on Friday a decision that put the brakes on planemaker Embraer’s proposed sale of 80 percent of its commercial aviation division to Boeing Co , as the judicial back-and-forth surrounding the deal continued.

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Volkswagen’s cleanup of a diesel cheating scandal will cost it 5.5 billion euros ($6.25 bln) in 2018 and around 2 billion euros in 2019, Chief Financial Officer Frank Witter told German weekly Boersen-Zeitung.

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Cost cuts and closing a unit where Credit Suisse had parked underperforming assets will help boost return on tangible equity (ROTE) to at least 10 percent in 2019, Chairman Urs Rohner said in an interview published on Saturday.

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Campbell Soup Co said on Friday that incoming Chief Executive Mark Clouse, a food industry veteran, could be paid as much as $7.4 million in compensation for fiscal 2019.

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HNA Group Co [HNAIRC.UL] is in talks to sell Ingram Micro Inc to private equity firm Apollo Global Management Llc , a source familiar with the matter said on Friday, as the Chinese conglomerate continues to scale back operations.

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Wall Street stocks fell sharply in volatile trading on Friday, with the Nasdaq confirming it is in a bear market, as concerns of slowing economic growth led investors to flee stocks in high-valuation sectors such as technology and communication services.

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Wells Fargo & Co. has been hiring overseas after pledging to eliminate thousands of jobs, according to a Department of Labor investigation.

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Chinese conglomerate HNA Group Co is in talks to sell electronics distributor Ingram Micro Inc to private equity firm Apollo Global Management Llc , the Wall Street Journal reported on Friday, citing people familiar with the matter.

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Wall Street stocks fell sharply in volatile trading on Friday, with the Nasdaq confirming it is in a bear market, as concerns of slowing economic growth led investors to flee stocks in high-valuation sectors such as technology and communication services.

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On Friday, the Nasdaq Composite closed almost 22 percent below its record high daily close on Aug. 29, signaling a nearly nine-and-a-half year bull market run for the index ended in late summer.

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