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Thursday, January 14, 2016
The price of oil keeps falling. And falling. And falling. It has to stop somewhere, right?
The world's biggest oil companies are slashing jobs and backing off major investments as the price of crude falls to new lows -- and there may be more pain to come.
Using the aviation industry as a model, automakers have agreed to work on fundamental changes in their relationship with the U.S. government in order to spot safety trends before they become problems and get new technology to the marketplace faster, a top safety regulator and a person familiar with the discussions said Tuesday.
World shares rose Wednesday after mainland China reported improved exports in December, salving nerves about the world's No. 2 economy, though a rally in Shanghai's stock market was short-lived.
Oil prices rebounded in Asia Wednesday, halting a plunge that saw crude fall below US$30 a barrel for the first time in more than 12 years, but analysts warned of further pressure on the commodity.
Higher risk currencies rose in line with a regional stock rally Wednesday as an upbeat mainland Chinese trade report provided some rare confidence to regional markets.
The EU said it will on Wednesday launch a year of delicate deliberations to decide whether mainland China should be considered a market economy, a long-denied status that would make it harder for Europe to fight off cheap imports.
Wednesday, January 13, 2016
The U.S. dollar advanced against emerging market currencies Tuesday as declining risk sentiment engulfed Asia, amid fears about the weak outlook for the Chinese economy.
U.S. crude tumbled below US$31 a barrel Tuesday, extending a sell-off that has pushed it to more than 12-year lows amid a global supply glut, a strong U.S. dollar and tepid demand.
Tuesday, January 12, 2016
China's Wanda buys Legendary Entertainment for $3.5 billion
BEIJING -- Wanda Group announced Tuesday it is buying Hollywood's Legendary Entertainment, the maker of films such as "Batman," for $3.5 billion in the first Chinese acquisition of a major U.S. film company.
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