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Volkswagen will recall 75,000 cars over seatbelt fault

Volkswagen will recall about 75,000 of its VW Polo and Seat Ibiza and Arona cars after a seatbelt fault was exposed by a Finnish car magazine test drive. A new fix would be offered to affected UK owners from Monday, VW said.   The test drive in Finland showed that when three passengers were in the back seats and the ...

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US says China has ‘not altered’ unfair trade practices

The Trump administration has accused China of not changing its “unfair” practices, inflaming a trade dispute between the world’s two largest economies. In an update to a March report, the US said China had failed to alter its “unreasonable” practices.   The US has, along with other countries, long criticised Beijing over its trade policies.   The move raises tensions ...

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US, allies to bring electricity to most of Papua New Guinea

The US, Japan, New Zealand and Australia say they’ll bring electricity to 70 percent of Papua New Guinea’s people by 2030, boosting the West’s response to growing Chinese influence in the South Pacific. The four countries and Papua New Guinea signed the electrification agreement Sunday at the Asia-Pacific Economic Cooperation meeting behind held in the capital Port Moresby.   US ...

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Trump raises hopes of China trade deal

US President Donald Trump has said he thinks the US could strike a trade deal with China, raising hopes that tensions between the two countries may subside. “I think a deal will be made,” Mr Trump said. “We’ll find out very soon.”   Mr Trump has made similar remarks in the past.   But this time the comments came after ...

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Jet Airways shares rise on Tata investment speculation

Shares in India’s second-largest airline Jet Airways jumped almost three percent Wednesday following reports that salt-to-steel conglomerate Tata Group might invest in it.   Tata is reviewing Jet’s accounts with a view to potentially buying a stake, Bloomberg News reported, while on Tuesday the Mint daily said Tata’s finance chief and Jet’s chairman were leading the talks.  A spokesperson for ...

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China-backed trade deal pushed back to 2019

A China-backed bid to complete the world’s largest trade deal — without the United States — was pushed back to next year after Asia-Pacific trade ministers failed to agree key terms at a Singapore summit.   The Regional Comprehensive Economic Partnership (RCEP), covering half the world’s population, is billed as an antidote to President Donald Trump’s “America First” agenda, which ...

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10 years after the recession, Americans wake up to rising prices

After years of low, low prices, fed by near-zero interest rates in a convalescing economy, Americans are waking up to costlier consumer living. Everyday household staples like diapers, toothpaste, shampoo and dishwashing liquid — not to mention soft drinks, cookies, chocolate, cat litter and autos — have all started getting more expensive, a trend expected to continue early next year. ...

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Remittance inflow increases by 12.17pc in 4 months

Expatriate Bangladeshis sent US$ 5,108 million remittances during the first four months of the current fiscal 2018-19, which is apparent 12.17 per cent higher than the same period of the preceding year, a Bangladesh Bank (BB) data said today. The country received US$4,553.79 million remittances during July to October in 2017-18 financial year, the data added.   “The flow of ...

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Toshiba slashes 7,000 jobs, pulls out of British nuke plant

The boss of struggling Toshiba said Thursday he would cut 7,000 jobs over the next five years as the Japanese engineering firm pulled out of foreign investments and downgraded its annual profit forecasts.   Toshiba also expects to scrap or consolidate some factories and reduce its subsidiaries by 25 percent — announcing the withdrawal from a US-based liquid natural gas ...

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