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Quake near US oil hub prompts infrastructure concerns

  CUSHING / AP A magnitude 5.0 earthquake centered near one of the world’s key oil hubs brought down building facades and shattered windows in a central Oklahoma city, rendering century-old buildings unsafe and raising concerns about key infrastructure. Cushing Assistant City Manager Jeremy Frazier told a news conference late on Sunday that a few minor injuries were reported. He ...

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Vietnam, Ireland agree coop on education, energy

  HANOI / AP Vietnam and Ireland agreed on Monday to increase their cooperation in education, renewable energy, information technology and health care, during a visit to the Southeast Asian country by Irish President Michael Higgins. Higgins said he and Vietnamese President Tran Dai Quang discussed how the two countries can serve as a bridge for developing relations with the ...

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McDonald’s plans ‘significant’ boost in tech spending

  Bloomberg McDonald’s Corp., which replaced its CEO last year with the hope of turning around sales, plans to significantly increase its investment in digital endeavors, inclu- ding self-serve kiosks and a mobile-ordering application. The investment marks a “very significant acceleration” from current levels, Jim Sappington, executive vice president of operations and technology systems, said in an interview. He declined ...

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German industrial orders disappoint

  Wiesbaden / AFP Industrial firms in Germany, Europe’s largest economy, saw an unexpected fall in new orders in September, official data showed on Monday, pointing to weaker performance in the months ahead. Companies saw order books shrink by 0.6 percent compared with August, correcting for price, seasonal and calendar effects, the federal statistics office Destatis said in preliminary figures. ...

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Nissan UK investment deal under EU scanner

  Bloomberg EU regulators are taking a closer look at an investment deal between Britain and Japanese auto maker Nissan that keeps production of two key models in the UK despite Brexit. “We have seen press reports regarding this issue. As a result, the Commission at services level is in contact with the UK authorities,” an EU spokesman said on ...

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Egypt to approach IMF soon as free currency trade debuts

  Bloomberg Egypt will ask the International Monetary Fund’s executive board within a day or two to consider its $12 billion loan request, Finance Minister Amr El-Garhy said, after the central bank freed the pound’s exchange rate to help spur investments and ease a dollar crunch. The push to finalize the loan comes as Egyptian banks began freely trading foreign ...

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May’s India outreach falters over migration rules

  Bloomberg UK Prime Minister Theresa May clashed with her Indian counterpart Narendra Modi over migration rules and failed to arrange a meeting with senior figures at Tata Group in a double blow to her three-day visit to India. Modi called on Britain on Monday to support more Indian students who want to enroll at universities in the U.K, as ...

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Nissan profit falls 16% on stronger Yen

  Bloomberg Nissan Motor Co. reported a 16 percent drop in second-quarter profit and predicted that industry demand in the U.S. and China, its two largest markets, will slow. Net income declined to 146.1 billion yen ($1.4 billion) in the three months through September, as a stronger yen eroded overseas earnings and U.S. discounts increased, the automaker said on Monday. ...

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Indonesian growth slows in third quarter

  AFP Indonesia’s economic growth slowed in the third quarter as government spending and exports fell, official data showed Monday, dimming hopes that Southeast Asia’s top economy will hit its GDP target this year. The economy expanded 5.02 percent year-on-year from July to September, slightly below forecasts and slower than a revised 5.19 percent in the second quarter, according to ...

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China adopts new cybersecurity law

  Bloomberg China has green-lit a sweeping and controversial law that may grant Beijing unprecedented access to foreign companies’ technology and hamstring their operations in the world’s second-largest economy. The Cyber Security Law was passed by the Standing Committee of the National People’s Congress, China’s top legislature, and will take effect in June, government officials said Monday. Among other things, ...

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