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CN Rail Strike Begins, Threatening Canada Oil, Grain Shipments

(Bloomberg) — About 3,200 workers at Canadian National Railway Co. went on strike at midnight Tuesday, threatening to crimp shipments of oil, potash and grain across the country.Conductors and railyard operators at Canada’s largest railway walked off the job after failing to reach an agreement with the company over issues including working conditions and drug benefits, the Teamsters Canada Rail Conference union said.“Unfortunately, we were unable to reach a deal with CN,” the union said in a statement. Workers have been without a contract since July and served a strike notice on Saturday.CN Rail is one of two main rail …read more […]

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UPDATE 1-Erdogan says he told Trump Turkey will not give up Russian S-400s

President Tayyip Erdogan said on Tuesday he told U.S. President Donald Trump during talks in Washington last week that Turkey would not give up on the Russian S-400 missile defences it procured this year, despite protests from its NATO ally. Ankara and Washington have been at loggerheads over Turkey’s purchase of the S-400s, which Washington says are not compatible with NATO defences and pose a threat to its F-35 stealth fighter jets. …read more […]

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PSA trade unions give the nod to merger with Fiat

The majority of unions representing workers at Peugeot maker PSA are in favour of a planned $50 billion merger with Fiat Chrysler , PSA executives and union representatives said. At a PSA works council meeting, all trade union representatives on the council voted to give a favourable opinion on the merger. …read more […]

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U.S. safety board to meet on Southwest engine failure that caused fatal accident

The U.S. National Transportation Safety Board (NTSB) will meet on Tuesday to determine the probable cause of the April 2018 engine failure of Southwest Airlines Co flight 1380 that killed a passenger who was partially sucked out the window. Jennifer Riordan of New Mexico, a 43-year-old Wells Fargo vice president and mother of two, was killed after the engine exploded and shattered a plane window. The accident occurred 20 minutes into the flight when a fan blade failed on a Boeing 737-700 jet powered by two CFM International CFM56-7B engines after taking off from New York’s LaGuardia Airport. …read more […]

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Singapore's Pavilion cancels U.S. LNG cargo loading as market faces oversupply

Singaporean gas importer and marketer Pavilion Energy has taken the unusual step of cancelling the loading of a liquefied natural gas (LNG) cargo from the United States, but has agreed to pay for it, several industry sources told Reuters. The global LNG market is awash with new supply amid slowing demand in key countries such as China and Japan, leaving some traders with cargoes they have bought but are unable to resell. “Pavilion Energy evaluated scheduling and other commercial matters, then took the decision not to lift the cargo in full coordination with the supplier,” a spokeswoman for …read more […]

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Popeyes signs first lease for China market as it seeks to take on KFC

U.S. fried chicken chain Popeyes wants to become the top chicken brand in China, the chief executive of its parent company said on Tuesday, as it prepares to take on KFC, the no.1 player in the world’s most populuous market. Popeyes signed a lease in Shanghai for its first store in China on Monday, which is slated to open next year. The company outlined plans in July to build 1,500 restaurants in China in the coming decade, becoming the last of Toronto-based Restaurant Brands International Inc’s main brands to enter the country. …read more […]

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A year after arrest, Ghosn seeks trial date, access to evidence

A year after his arrest, Nissan ex-Chairman Carlos Ghosn remains stuck in Tokyo under stringent bail conditions and without a trial date as he seeks access to a trove of Nissan emails and other evidence to fight charges of financial misconduct. The once-feted executive has spent 129 days in detention since his arrest shortly after his private jet touched down at a Tokyo airport on Nov. 19, 2018. Nissan sacked Ghosn, saying its internal investigations revealed misconduct ranging from understating his salary while he was its chief executive, and transferring $5 million of Nissan funds to an account …read more […]

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HK shares end at 1-week high on stimulus prospects, Alibaba boost

Hong Kong stocks on Tuesday closed at a one-week high as China central bank’s rate cut stoked hopes that Beijing is keen to stem an economic slowdown with stimulus measures, while strong demand ahead of Alibaba’s listing boosted sentiment. ** The Hang Seng index was up 1.6% at 27,093.80, its highest close since November 8. The China Enterprises Index closed 1.3% higher at 10,696.56 points. …read more […]

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UPDATE 1-Russia's Sberbank, Mail.Ru to invest $1 billion in online food, taxi venture

Russian internet company Mail.Ru and state lender Sberbank have finalised the terms of a joint food and taxi platform and plan to invest 64.6 billion roubles ($1 billion) in the business, Mail.Ru said on Tuesday. The deal, first revealed in July, should be closed by the end of the year and will hand the firms equal stakes in the joint venture, it said. The move marks a significant step in Sberbank’s pursuit of a stronger presence in Russia’s digital economy and offers competition to the country’s leading technology company, Yandex , which dominates the ride-hailing market. …read more […]

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Toyota says labor officials found it responsible for worker suicide

Toyota Motor Corp on Tuesday said Japanese labor officials have found it responsible for the suicide of an employee, with the Mainichi Shimbun reporting that workplace bullying at the automaker had led to the employee’s death. Toyota City’s labor standards officials had been investigating the 2017 suicide of a Toyota Motor employee, a spokesman at the automaker confirmed to Reuters. …read more […]