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China’s economy slows again as trade war risks global slump

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Bloomberg China’s slowdown is deepening just as risks for the global economy mount, piling pressure on the authorities to do more to support growth. Industrial output rose 4.4 percent from a year earlier in August, the lowest for a single month since 2002, while retail sales came in below expectations. Fixed-asset investment slowed to 5.5 percent in the first eight ...

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India’s most valuable steel producer sees iron ore drop to $60

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Bloomberg JSW Steel Ltd, India’s most valuable steel producer, is predicting declines for iron ore next year as demand from biggest consumer China eases and supplies recover. Prices may trade between $80 and $85 a ton for the rest of 2019 before sliding to $60 to $65 next year, Seshagiri Rao, joint managing director of the Mumbai-based mill, said. The ...

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Reliance Communications unit GCX files for bankruptcy in India

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Bloomberg A unit of Reliance Communications Ltd, Anil Ambani’s distressed telecom firm, has filed for bankruptcy protection. GCX Ltd, which owns the world’s largest private undersea cable system, is the latest company owned by the tycoon to stumble. The former billionaire’s Reliance Communications itself fell back into bankruptcy earlier this year. The move by subsidiary GCX comes after it missed ...

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