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Business - GM`s Cadillac sees double digit sales growth in China this year


Cadillac, General Motors Co`s luxury brand, is predicting a double digit growth rate in China sales this year, the brand`s country chief Andreas Schaaf told Reuters on Tuesday. The brand - which opened its first dedicated factory in China last year, helping boost Cadillac sales in the country by 46 percent - expects China to become its top market in less than five years, Schaaf added. Cadillac and Ford`s Lincoln are among a second wave of luxury car brands in China, the world`s biggest auto market, that seek to take market share from established brands such as BMW , Daimler`s Mercedes-Benz, and Volkswagen`s Audi.


Tuesday, January 17, 2017  03:06

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Business - Oil prices mixed on Saudi commitment to cut output, investor scepticism


Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by scepticism in financial markets that oversupply would be curbed. U.S. West Texas Intermediate (WTI) crude oil futures were trading up 8 cents at $52.45 per barrel at 0231 GMT. Brent crude futures, the international benchmark for oil prices, were down 14 cents at $55.72 a barrel.


Tuesday, January 17, 2017  03:00

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Business - Oil mixed on Saudi commitment to cut output, investor scepticism


Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by scepticism in financial markets about the outlook for crude prices. U.S. West Texas Intermediate (WTI) crude oil futures were trading up 16 cents at $52.53 per barrel at 0136 GMT. Brent crude futures, the international benchmark for oil prices, however were down 9 cents at $55.77 a barrel.


Tuesday, January 17, 2017  02:16

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World - In latest move, China halts over 100 coal power projects


China`s energy regulator has ordered 11 provinces to stop more than 100 coal-fired power projects, with a combined installed capacity of more than 100 gigawatts, its latest dramatic step to curb the use of fossil fuels in the world`s top energy market. In a document issued on Jan. 14, financial media group Caixin reported, the National Energy Administration (NEA) suspended the coal projects, some of which were already under construction. Putting the power projects on hold is a major step towards the government`s effort to produce power from renewable sources such as solar and wind, and wean the country off coal, which accounts for the majority of the nation`s power supply.


Tuesday, January 17, 2017  10:48

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Business - Credit Suisse CEO sees conditions improving in 2017: Bloomberg TV


Credit Suisse Chief Executive Tidjane Thiam sees market conditions improving during 2017 as the bank`s reorganization gathers pace and its efficiency drive continues. Switzerland`s second-biggest lender has accelerated its transformation and achieved `a lot` in 12 months, Thiam told Bloomberg TV in an interview from Davos on Tuesday. Credit Suisse was now in a decent capital position and was progressing at `full speed` toward the flotation of its Swiss bank unit later this year, Thiam said.


Tuesday, January 17, 2017  10:22

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Business - Asia stocks and pound weak, brace for May`s speech on Brexit stance


By Shinichi Saoshiro TOKYO (Reuters) - Asian stocks and the pound sagged on Tuesday as investors waited for British Prime Minister Theresa May to lay out plans to exit the European Union, which traders fear will see Britain lose access to the bloc`s single market. Britain will not seek a Brexit deal that leaves it `half in, half out` of the EU, May will say later in the day, according to her office, in a speech setting out her 12 priorities for upcoming divorce talks with the bloc. Growing uncertainty over the policies of Donald Trump have also hurt equities, which had rallied in many parts of the world thanks to speculation that the U.S. President-elect would enact bold stimulus and reflationary measures once in office.


Tuesday, January 17, 2017  02:53

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Business - Asia stocks and pound sag, May speech awaited for Brexit stance


Asian stocks and the pound sagged on Tuesday ahead of a speech by British Prime Minister Theresa May that could have implications for broader risk sentiment. Media have reported that May, due to speak later on Tuesday, will lay out plan to exit the European Union that would see Britain lose access to the bloc`s single market. Growing uncertainty over the policies of Donald Trump have also hurt equities, which had rallied in many parts of the world thanks to speculation that the U.S. President-elect would enact bold stimulus and reflationary measures once in office.


Tuesday, January 17, 2017  00:37

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World - Britain will not seek `half in, half out` EU deal: PM May


By Kylie MacLellan LONDON (Reuters) - Britain will not seek a Brexit deal that leaves it `half in, half out` of the European Union, Prime Minister Theresa May will say on Tuesday, according to her office, in a speech setting out her 12 priorities for upcoming divorce talks with the bloc. Media reported May would be less explicit on her plans for the customs union, but that her emphasis on building new trade relationships would make clear Britain could be no longer a member in the way it is now.


Monday, January 16, 2017  23:31

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World - UK`s May signals EU clean break: no `half-in, half-out`


LONDON (AP) Britain will make a clean break from the European Union and not seek to remain `half-in, half-out,` Prime Minister Theresa May will say Tuesday, disappointing businesses and voters who want the country to stay in the bloc`s single market.


Monday, January 16, 2017  23:03

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Business - Oil prices inch up on Saudi commitment to cut output


By Henning Gloystein SINGAPORE (Reuters) - Oil edged up on Tuesday after Saudi Arabia said it would strictly adhere to a commitment to cut output, but worries in financial markets about the outlook for crude supply dragged on prices. U.S. West Texas Intermediate (WTI) crude oil futures were trading up 15 cents at $52.52 per barrel at 0034 GMT (7:34 PM EST). Brent crude futures, the international benchmark for oil prices, were yet to trade.


Tuesday, January 17, 2017  01:02

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