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BMW expands UK vehicle recall to 390,000 cars

BMW expands UK vehicle recall to 390,000 cars

BMW is expanding a recall of vehicles in Britain, which it launched last week, by 88,000 cars to a total of 390,000, in the wake of a BBC investigation which found that some vehicles could cut out completely while being driven. "BMW has chosen to expand on its existing battery connector...

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Germany orders Porsche recall over diesel emissions cheating

Germany orders Porsche recall over diesel emissions cheating

 German authorities said Friday they had ordered 19,000 Porsche SUVs recalled over emissions cheating, saying a total of 60,000 manipulated vehicles had been identified worldwide. "Illegal 'defeat devices' were identified" in some 4,000 Cayenne and 15,000 Macan cars sold by the...

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German minister tells carmakers to speed up diesel refits, pay for it

German minister tells carmakers to speed up diesel refits, pay for it

German Environment Minister Svenja Schulze urged carmakers to speed up technical refits of diesel cars to improve air quality after the European Commission said Thursday it was taking Germany to court for breaching air targets. "If we are to survive in court, we need more and faster...

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HSBC to cement lead in Saudi Arabia with $5 billion merger

HSBC to cement lead in Saudi Arabia with $5 billion merger

HSBC Holdings PLC is set to reaffirm its position in Saudi Arabia with the takeover of Royal Bank of Scotland Group PLC’s local venture as lenders bet on the kingdom’s ambitious plans to transform its economy. In the country’s first bank merger in almost 20 years, HSBC affiliate Saudi...

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Turkey's lira slides after Erdogan says wants greater economic control

Turkey's lira slides after Erdogan says wants greater economic control

Turkey's lira slid to a record low and bond yields briefly touched their highest in at least eight years on Tuesday, after President Recep Tayyip Erdogan said he plans to take greater control of the economy after elections next month. Erdogan's comments, in an interview with Bloomberg...

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Yemen's Aden refinery seeking 150,000 tons of oil products

Yemen's Aden refinery seeking 150,000 tons of oil products

Yemen's Aden refinery is seeking 150,000 tons of oil products for the local market in two separate tenders, the state news agency SABA said Sunday. The refinery is seeking 30,000 tons of unleaded petrol and 30,000 tons of diesel in its first tender, as fuel supplies ran low because of...

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U.S. court revives challenge to Seattle's Uber, Lyft union law

U.S. court revives challenge to Seattle's Uber, Lyft union law

(Reuters) - A U.S. appeals court on Friday revived a leading business group’s challenge to a Seattle law, the first of its kind, that would allow drivers for ride-hailing services such as Uber Technologies Inc UBER.UL and Lyft to unionize. The San Francisco-based 9th U.S. Circuit...

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Oil could hit $100 a barrel in 2019: Bank of America

Oil could hit $100 a barrel in 2019: Bank of America

There is a risk of crude oil prices hitting $100 per barrel next year due to tightening of supply and demand balance in global oil market, investment banking giant Bank of America Merrill Lynch said in a report Thursday. Oil prices have been rising in the past few weeks due to worries...

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Saudi to supply oil to fuel-starved Sudan: minister

Saudi to supply oil to fuel-starved Sudan: minister

Saudi Arabia will supply Sudan with millions of tonnes of oil for the next five years to help it tackle a growing energy crisis, the African country's oil minister said Monday. Sudan has been hit with an acute fuel crisis for weeks now, sending black market prices surging in Khartoum as...

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Air France's stock sinks as government warns on its future

Air France's stock sinks as government warns on its future

Air France's share price dived Monday after its CEO quit and the French government warned that the country's flagship carrier might collapse. A new strike Monday over wage demands, meanwhile, prompted the cancellation of about 15 percent of Air France flights worldwide. The number of...

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Libyan foreign minister meets senior Russian official in Moscow

Libyan foreign minister meets senior Russian official in Moscow

Libya's Foreign Minister Mohammad Taher Siala discussed the conflict in his country with the secretary of Russia's security council on Thursday in Moscow, the council said. Siala and Nikolai Patrushev also discussed counter-terrorism measures, the statement said.

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Turkish inflation surges again in April ahead of polls

Turkish inflation surges again in April ahead of polls

Turkey's inflation rate edged up to almost 11 percent in April, official statistics showed Thursday, adding to fears that the economy is overheating less than two months ahead of elections. Consumer prices rose 10.85 percent in April from the same month the year earlier, the Turkish...

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Air France cuts back on Iran flights, blames weak demand

Air France cuts back on Iran flights, blames weak demand

Air France is cutting its Joon subsidiary's service between Paris and Tehran to the summer season only, blaming a poor economic performance over two years in operation. "Air France has decided to adapt its programme to better match demand," a spokeswoman said by email, adding that the...

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White House delays tariffs on EU, Canada and Mexico

White House delays tariffs on EU, Canada and Mexico

WASHINGTON (AP) — The White House said Monday it would postpone a decision on imposing tariffs on U.S. imports of steel and aluminum from the European Union, Canada and Mexico for 30 days, avoiding the potential for a trade battle with Europe as the U.S. prepares for tense trade talks in...

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Saudi Aramco appoints first woman to the board

Saudi Aramco appoints first woman to the board

State run Saudi Aramco, the world's top oil company, said Sunday it has appointed five new members to its board including a female executive, a milestone for Saudi Arabia and the oil industry where there are few women executives. The appointments come as the Saudi government plans to...

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Iraq oil and gas exploration and development auction ends

Iraq oil and gas exploration and development auction ends

 Iraq has awarded Iraqi-owned United Arab Emirates-based Crescent Petroleum three exploration blocks in an oil and gas exploration and development contract auction Thursday and China's Geo-Jade won two. United Energy Group, also based in China, won one contract and a total of five...

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Japan says trade talks with US under new framework won't start until June

Japan says trade talks with US under new framework won't start until June

Japan's Economy Minister Toshimitsu Motegi said on Tuesday that bilateral talks on trade under a new framework led by him and U.S. Trade Representative Robert Lighthizer won't begin until mid-June at the earliest. In a summit last week, Japanese Prime Minister Shinzo Abe and U.S....

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Iraq extends bid deadline for construction of Mosul oil refinery: ministry

Iraq extends bid deadline for construction of Mosul oil refinery: ministry

 Iraq has extended the deadline for foreign companies and investors to bid for the construction and operation of a new 100,000 barrel per day (bpd) refinery near Mosul in the northern province of Nineveh, the oil ministry said on Sunday. Bidding documents provide for two investment...

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