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‘Storm approaching’: firms fear for deliveries in shipping shakeup

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LONDON/LOS ANGELES (Reuters) – U.S. furniture company RC Willey Home Furnishings is so concerned that new global clean air rules will cause transport disruption that it brought forward the shipment of arm chairs and sofas from China by two months. FILE PHOTO: Shipping containers are pictured at Yusen Terminals (YTI) on Terminal Island at the Read More

Venezuela’s oil production set for another drop

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Venezuela’s oil production fell to a new low last month, as economic crisis and sanctions continue to strangle the industry. Venezuela’s output fell by 35,000 bpd in May, plunging to 741,000 bpd for the month, according to OPEC’s secondary sources, the lowest total in about a half century. The problems for Venezuela are not new Read More

Lufthansa announces overhaul of budget carrier Eurowings

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BERLIN (Reuters) – Lufthansa on Monday announced a turnaround plan for Eurowings in which the budget carrier will focus on short-haul flights and seek a 15% cut in costs by 2022 in the hope of returning to profit. FILE PHOTO: The economy class section of an Airbus A340-300 of Eurowings, a low-cost airline and fully Read More

U.S. regulators ask Deutsche Bank to explain ‘bad bank’ proposal: FT

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A Deutsche Bank logo adorns a wall at the company’s headquarters in Frankfurt, Germany June 9, 2015. REUTERS/Ralph Orlowski/File Photo (Reuters) – U.S. regulators have sought explanation from Deutsche Bank AG about its “bad bank” proposal and its impact on U.S. operations at the loss-making German lender, the Financial Times reported on Monday. Officials at Read More

Canadian oil industry dismayed as contentious energy bills become law

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CALGARY, Alberta (Reuters) – Two pieces of legislation opposed by Canada’s oil and gas industry that fulfill Liberal government promises to protect the environment will become law on Friday. Canada’s Prime Minister Justin Trudeau speaks as Canada’s Foreign Minister Chrystia Freeland listens during a news conference at the Canadian Embassy, in Washington, U.S. June 20, Read More

Foxconn chairman hands over reins ahead of presidential bid

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TAIPEI (Reuters) – Foxconn Chairman Terry Gou said on Friday he will hand over the running of the world’s largest electronics contract manufacturer to a new operations committee as he prepares to contest Taiwan’s presidential elections next year. FILE PHOTO: Terry Gou, founder and chairman of Foxconn reacts during an interview with Reuters in New Read More

Foxconn chairman hands over reins to new committee

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FILE PHOTO: Terry Gou, founder and chairman of Foxconn reacts during an interview with Reuters in New Taipei City, Taiwan June 12, 2017. REUTERS/Eason Lam/File Picture TAIPEI (Reuters) – Foxconn Chairman Terry Gou said on Friday he will hand over the running of the world’s largest electronics contract manufacturer to a new operations committee as Read More

Exclusive: Deutsche Bank braced for continued Fed restrictions on U.S. business – sources

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NEW YORK (Reuters) – Deutsche Bank AG executives expect U.S. regulators to continue to impose restrictions on its Wall Street investment bank even if it passes an annual health check, three sources familiar with the matter said. FILE PHOTO: The logo of Deutsche Bank is seen at its headquarters ahead of the bank’s annual general Read More

Nigerian President Buhari reshuffles NNPC leadership

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Lagos — Nigerian President Muhammadu Buhari reshuffled the leadership of state-owned Nigerian National Petroleum Corporation on Thursday, appointing Mele Kyari as the new managing director of the country’s oil company. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Kyari, who was previously the head of NNPC’s crude oil marketing Read More

U.S. trade representative says he can resolve Democrats’ concerns on North America pact quickly

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WASHINGTON (Reuters) – The top U.S. trade negotiator said on Wednesday he is ready to work with lawmakers “sooner rather than later” to address concerns over a new North American pact, even as a leading Democrat outlined roadblocks to the deal’s approval. U.S. Trade Representative Robert Lighthizer testifies before a Senate Finance Committee hearing on Read More