United States

Chinese company treats 6,400 employees to French holiday

China's Tiens Group Co. Ltd is treating more than half of its 12,000 employees to a four-day holiday in France and has booked up 140 hotels in the capital Paris as part of the package, a French Foreign Ministry spokeswoman said on Thursday.

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China April exports unexpectedly contract, import slide worsens, more stimulus seen

China's exports unexpectedly fell 6.4 percent in April from a year earlier, while imports tumbled by a deeper-than-forecast 16.2 percent, fueling expectations that Beijing will quickly roll out more stimulus to avert a sharper economic slowdown.

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California city plans $16 minimum wage by 2019, highest in the U.S.

Emmeryville, a small city in the San Francisco Bay Area, has given initial approval to the nation's highest minimum wage by setting baseline pay at $16 an hour in 2019, with gradual increases leading up to that level.

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Hong Kong securities regulator set to finalize new dark pool rules: source

Hong Kong's financial watchdog is set to finalize new rules on so-called "dark pools" within the next few days, a source familiar with the regulator's thinking said on Thursday.

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U.S. trade data points to first-quarter economic contraction

A surge in imports lifted the U.S. trade deficit in March to its highest level in nearly 6-1/2 years, suggesting the economy contracted in the first quarter.

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Dollar dips, trade thins on May Day after stormy week

A holiday in most of Europe thinned trade on Friday after a tumultuous week when the dollar dove, bond yields soared and stock markets in Europe and the United States weakened.

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Ford recalls over 591,000 vehicles for steering, other problems

Ford Motor Co (F.N) said on Wednesday it is recalling more than 591,000 vehicles in North America for four separate problems, including possible broken bolts that could make steering more difficult.

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Saras and Rosneft abandon plans for trading joint venture

Italian refiner Saras (SRS.MI) and Russian energy giant Rosneft (ROSN.MM) have called off plans to set up a trading joint venture, Saras Managing Director Dario Scaffardi said on Tuesday.

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Profit beat wins VW respite after boardroom clash

Cost cutting and an improving European car market helped Volkswagen (VOWG_p.DE) beat first-quarter profit forecasts, easing the pressure on management following the shock ouster of long-standing chairman Ferdinand Piech.

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Detroit automakers rely on U.S. truck sales for global profits

Detroit automakers have come full circle, relying as they did before the financial crisis on profits from selling trucks and sport utility vehicles in the United States to cover losses overseas.

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U.S. asks China to drop ban on poultry imports triggered by bird flu

U.S. Agriculture Secretary Tom Vilsack on Monday asked China to drop a ban on imports of U.S. poultry imposed because of an outbreak of bird flu in chickens and turkeys.

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Xerox cuts 2015 profit forecast due to strong dollar

Xerox Corp cut its full-year profit forecast, blaming a strong dollar, and the company reported lower-than-expected quarterly revenue as its printer sales fell and costs rose.

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Euro hits two-week high on German IFO, Greek hopes

The euro hit a two-week high against a soft dollar on Friday, supported by a rise in a key German business sentiment survey and hopes that cash-strapped Greece was making tentative progress toward securing fresh funding.

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Pacific pact negotiators agree trade rules for six subjects: Japan government source

Negotiators for the Trans-Pacific Partnership have agreed trade rules for six broad categories as officials race to conclude a trade pact, a Japanese government source said on Thursday.

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Japan, U.S. sound optimistic on TPP trade pact negotiations

Japan's top trade negotiator sounded an optimistic note on Tuesday that he could reach a deal with the United States that is essential to creating a free trade pact covering 12 countries.

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