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Toyota rebukes Trump for message carmaker ‘not welcomed’

Bloomberg Toyota Motor Corp rebuked President Donald Trump’s declaration that imported cars threaten US national security, signaling contentious talks are ahead for the White House and America’s key trading partners. In an unusually strong-worded statement, Japan’s largest automaker said Trump’s proclamation that the US needs to defend itself against foreign cars and components “sends a message to Toyota that our ...

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CBS in talks with Lions Gate to buy Starz cable network

Bloomberg CBS Corp’s seemingly inexorable march towards acquiring Viacom Inc. may take a detour. The broadcasting giant recently talked to Lions Gate Entertainment Corp about buying that company’s Starz cable network, according to people familiar with the matter, a deal that could happen alongside a potential purchase of Viacom. CBS made an informal bid of about $5 billion that was ...

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UK plows $36mn into car batteries in low-carbon push

Bloomberg Business Secretary Greg Clark pledged 28 million pounds ($36 million) to research electric car batteries as he pushes for the UK to establish an industry-leading factory. The cash for the Coventry, central England-based Battery Industrialisation Centre adds to an initial investment of 80 million pounds, Clark’s Department for Business, Energy and Industrial Strategy said in a statement. The government ...

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PG&E lines tied to deadliest California fire in state report

Bloomberg California investigators have determined that PG&E Corp.’s power lines ignited the deadliest blaze in state history, opening the door for more liabilities that the company has already warned may exceed $30 billion. A transmission line owned by PG&E sparked the Camp Fire that killed 85 people and destroyed an entire town in November, the California Department of Forestry and ...

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UK wages rise 3.3% in first quarter of 2019

Bloomberg British workers are enjoying a resurgence of bargaining power as labour shortages leave employers struggling to fill jobs. Basic pay rose an annual 3.3% in the first quarter, close to the fastest pace since 2008, Office for National Statistics figures show. Pay including bonuses rose 3.2%. The increase came as the number of people in work rose by 99,000, ...

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Arkema set to acquire US chemical-maker for $570m

Bloomberg Arkema SA agreed to buy a US-based supplier of mining-additives from Golden Gate Capital for $570 million as part of Chief Executive Officer Thierry Le Henaff’s drive to expand in higher-margin specialty chemicals. Purchasing ArrMaz Custom Chemicals Inc. will add a portfolio of defoamers and other so-called surfactants also used in road construction and agrochemicals generating annual sales of ...

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Saudi says no to war with Iran, vows strong response

Bloomberg Saudi Arabia does not want a war with Iran but will respond “with strength and determination” if Iran decides to start one, a top Saudi official said. “We don’t want a war in any way, but at the same time we won’t allow Iran to continue its hostile policies towards the kingdom,” Minister of State for Foreign Affairs Adel ...

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Explosion targets tourist bus in Egypt, 16 injured

Bloomberg At least 16 people were injured when an explosive device targeted a tourist bus near the Giza pyramids in Egypt, said Hanaa Serour, an official at the Health Ministry. Some of the wounded were foreign nationals, according to Mohammed El-Saghir, head of police investigations in Giza’s al-Haram neighbourhood. The blast occurred in front of a museum that’s under construction, ...

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