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June, 29, 2016

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Business > Asia > Australia
Berkshire Hathaway buying Precision Castparts
Warren Buffett's biggest acquisition yet -- a US$32.36 billion buyout of Precision Castparts -- will further change the complexion of Berkshire Hathaway and increase the conglomerate's reliance on industrial companies.
 
A U.S. appeals court sided with Argentina Monday and restricted the number of plaintiffs who can sue the country in a class-action suit to recover funds from defaulted bonds.
 
In the midst of a global economic slowdown, Taiwan's exports dropped 11.9 percent to US$23.55 billion in July, marking the sixth consecutive month of decline, the Ministry of Finance (MOF, 財政部) reported on Friday.
 
Zurich Insurance reported Thursday first half net profits of US$2.1 billion (1.9 billion euros), down 3 percent over the same period last year, following large losses in its general insurance business.
 
Embattled U.S. comedian Bill Cosby admitted having supplied powerful sedatives to at least one woman in order to have sex with her, court documents unsealed on Monday showed.
 
Australia's central bank Tuesday kept interest rates on hold at 2.0 percent for the second-straight month, saying accommodative monetary policy was needed with economic growth subdued.
 
A wave of attacks in Egypt's Sinai Peninsula claimed by the Islamic State group killed at least 15 soldiers Wednesday, with the toll expected to rise as troops fought a running battle with militants.
 
Rio Tinto selling 'vivid' pink and red diamonds
Sixty-five extremely rare pink and red diamonds were unveiled Friday by mining giant Rio Tinto which expects the stones from a remote western Australia mine to fetch record prices.
 
MERS outbreak forces S. Korea to cut key interest rate
South Korea's outbreak of the potentially deadly MERS virus on Thursday forced the central bank to cut its key interest rate to ward off greater economic damage, as retailers report a slump in business.
 
Australian Treasurer Joe Hockey on Tuesday widened a probe into the illegal buying of residential property by foreigners, with almost 200 sales being investigated for breaching investment rules.
 
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