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China coal giants ink supply deals in effort to ease prices

  Bloomberg China’s biggest coal producers signed thermal supply contracts with major power generators in Beijing on Tuesday as the country’s top regulators push to stop prices of the fuel from rising too much. Shenhua Group Corp. and China National Coal Group Corp., the country’s two biggest coal producers, signed the deals with state-owned power generators China Huadian Corp. and ...

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Eurozone cuts 2017 growth outlook after Brexit

  Brussels / AFP The European Union on Wednesday edged up its eurozone growth forecast for this year but trimmed it for 2017, warning that the economy faced new challenges due to Brexit and rising inequality. Brussels also nearly halved its economic growth outlook for Britain itself next year due to uncertainty over the country’s vote to leave the bloc. ...

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World’s biggest shipping line falls amid fears of trade wars

  Bloomberg A.P. Moller-Maersk A/S, the owner of the world’s biggest container shipping line, saw its shares fall on Wednesday as the outcome of the US presidential election fanned concern there will be a shift toward policies that are hostile toward global trade. Maersk sank as much as 5.6 percent to trade 3.4 percent lower at 9,215 kroner at 11:29 ...

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Millions in cash burned on one war over rooftop solar panels

  Bloomberg There’s a war brewing over the future of rooftop solar, and Arizona is at ground zero. Pinnacle West Capital Corp., which owns the state’s largest utility, last week said it has formed a third-party group to support candidates for an elected state board that regulates their industry. The move promises to inject $1 million into a race in ...

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Vestas sinks after Trump victory

  Bloomberg Shares in Vestas Wind Systems A/S plunged after US voters unexpectedly propelled Republican nominee Donald Trump to the presidency, sparking concern that the renewable- energy industry will face future political headwinds. The world’s biggest maker of wind turbines fell as much as 14 percent and traded 6.6 percent lower at 440.10 kroner as of 12:50 p.m. in Copenhagen. ...

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Poland’s quest to raise rates meets economy running on fumes

  Bloomberg Poland’s central bank has its credibility increasingly on the line after gambling that economic growth is strong enough to commit to tightening as its next move. While the 10-member Monetary Policy Council kept its benchmark interest rate at a record low of 1.5 percent on Wednesday, in line with the predictions of all 30 analysts surveyed by Bloomberg, ...

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Markets absorb shock Trump victory, region seen resilient

  Reuters Gulf stock markets dependent on foreign funds, such as Dubai and Qatar, fell on Wednesday as the region absorbed the shock of Donald Trump’s US election win and prepared for more volatile trad- ing ahead. Trump, feared by markets because of his views on trade, immigration and taxation, may enact policies that could affect the oil price, the ...

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Modi banknote move jolts India stocks, as US vote weighs

  Bloomberg Indian equities and the rupee weakened after Prime Minister Narendra Modi’s government unexpectedly withdrew high-denomination banknotes and as Donald Trump clinched the US presidency. The S&P BSE Sensex tumbled as much as 6.1 percent before trading 2.8 percent lower at 12:50 p.m. in Mumbai. The rupee dropped 0.2 percent to 66.7425 per dollar, poised for its biggest drop ...

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Samsung seeks redemption with AI-infused Galaxy S8

  Bloomberg Samsung Electronics Co. plans to equip its next Galaxy S smartp- hones with a Siri-like digital assistant, seeking to make a come- back after the global debacle that precipitated the death of its flawed Note 7 lineup. Samsung, which last month acquired US-based artificial-intelligence software company Viv Labs Inc., said the Galaxy S8 slated for next year will ...

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Turner International turns digital

  Bloomberg Time Warner’s Turner unit said Tuesday its international business is launching a digital division to lead digital innovation. Turner International is led by president Gerhard Zeiler. The international unit of Turner, led by chairman and CEO John Martin, has so far consisted of a European, Latin American and Asian operation. Time Warner, which recently agreed to be acquired ...

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