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Ghana favours forecourt operator as Exxon partner

Bloomberg Ghana sees the country’s state-owned gas-station operator as the leading bidder to partner Exxon Mobil Corp. to explore for crude at an offshore field, according to two people familiar with the matter. Exxon was awarded exploration and production rights for the Deepwater Cape Three Points block in January and must choose a local partner for a 5 percent stake ...

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Hyundai buckles under Elliott pressure, scraps $8.8bn deal

Bloomberg Hyundai Motor Group bowed to pressure from billionaire Paul Singer’s Elliott Management Corp. by shelving a controversial $8.8 billion deal, marking an unprecedented victory for shareholder activists in South Korea. The group’s Hyundai Mobis Co. unit on Monday withdrew a proposal to sell two of its most lucrative businesses to affiliate Hyundai Glovis Co., Mobis Chief Executive Officer Young-Deuk ...

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US-China trade truce may not last with differences unresolved

Bloomberg The US and China declared a truce in their trade dispute over the weekend, but that will prove temporary if the world’s two largest economies fail to deliver on their vague commitments to re-balance trade. “We’re putting the trade war on hold,” Treasury Secretary Steven Mnuchin said after the two sides released a joint statement a day earlier. “Right ...

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