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Panama airport places $575 million bond after probe hits issue

Panama City's main airport said on Friday it had successfully placed a $575 million bond after a company forming a major source of income for the hub became embroiled in a money-laundering probe, prompting the issue to be restructured. Originally earmarked for $625 million, the bond for Tocumen International Airport was pared back after the U.S. Treasury Department accused members of the Waked family of running a money laundering…

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Panama airport places $575 million bond after probe hits issue

said-on-friday

Fiat Chrysler recalls 1.1 million cars, SUVs for rollaway issue

By David Shepardson WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV said on Friday it is recalling more than 1.1 million cars and SUVs worldwide because the vehicles may roll away after drivers exit. The recall covers the 2012-2014 Dodge Charger and Chrysler 300 sedans…

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Fiat Chrysler recalls 1.1 million cars, SUVs for rollaway issue

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Volkswagen takes $18 billion hit over emissions scandal

By Andreas Cremer and Edward Taylor WOLFSBURG/FRANKFURT (Reuters) – Volkswagen (VW) said on Friday it would take a 16.2-billion-euro ($18.2 billion) hit to its 2015 results and slash its dividend to help pay for its emissions-test cheating scandal. The news came amid growing signs a regulatory clampdown in the wake of VW's cheating is affecting the broader industry, with Germany-based automakers including Mercedes-Benz, and Opel – as well as VW – agreeing to recall a total of 630,000 cars to fix diesel engine technology blamed for high pollution. On…

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Volkswagen takes $18 billion hit over emissions scandal

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Japan’s pitch for FX action meets cool G20, U.S. response

By Leika Kihara WASHINGTON (Reuters) – Japan's efforts to seek informal consent to act against an unwelcome yen rise bore little fruit, with the United States offering a cool response to concerns voiced by Tokyo that the currency's gains are too sharp and may justify intervention. A lack of G20 sympathy for Tokyo's appeal may embolden yen bulls to test the currency's 17-month highs against the dollar hit earlier this month, keeping Japanese policymakers …

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Japan’s pitch for FX action meets cool G20, U.S. response

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Fiat Chrysler CEO says can build Tesla Model 3 rival if makes business sense

Fiat Chrysler Automobiles (FCA) could build an Italian-style rival to Tesla's Model 3 within 12 months if the electric carmaker can prove the vehicle makes business sense, FCA Chief Executive Sergio Marchionne said on Friday. Tesla said last week it had received more than 325,000 orders for its new Model 3 sedan in the first week of bookings, although there is no certainty it will be …

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Fiat Chrysler CEO says can build Tesla Model 3 rival if makes business sense

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Tesla unveils $35,000-Model 3 with range of 215 miles

By Alexandria Sage and Joseph White HAWTHORNE, Calif. (Reuters) – Tesla Motors gave a sneak preview Thursday of its Model 3 sedan, saying more than 130,000 people had ordered the car, even though it is more than a year away from production. Tesla Chief Executive Elon Musk unveiled a prototype of the Model 3 in Hawthorne, California outside Los Angeles to hundreds of Tesla owners and the media, saying the vehicle will go into production in 2017 at a starting price of $35,000. Tesla shares have jumped …

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Tesla unveils $35,000-Model 3 with range of 215 miles

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Strong U.S. jobs report unlikely to sway cautious Fed

By Lucia Mutikani WASHINGTON (Reuters) – U.S. employment increased solidly in March and wages rebounded, underscoring the economy's resilience, but the Federal Reserve is expected to remain cautious in raising interest rates this year due to slowing global growth. Nonfarm payrolls increased 215,000 last month, the Labor Department

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Strong U.S. jobs report unlikely to sway cautious Fed

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AT&T, Starwood, Marriott working on Cuba deals ahead of Obama visit

By Matt Spetalnick WASHINGTON (Reuters) – At least three major U.S. companies, AT&T Inc , Starwood Hotels & Resorts Worldwide Inc and Marriott International Inc , are seeking to complete deals in Cuba as President Barack Obama prepares to visit Havana, a person familiar with the discussions said on Friday. It will be the first visit to Cuba by a U.S. president in nearly 90 years. AT&T is trying to complete a mobile communications agreement…

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AT&T, Starwood, Marriott working on Cuba deals ahead of Obama visit

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U.S. payrolls surge, bolster Fed rate hike prospects

U.S. employment gains surged in February, the clearest sign yet of labor market strength that could further ease fears the economy was heading into recession and allow the Federal …

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U.S. payrolls surge, bolster Fed rate hike prospects

said-on-friday

Buffett’s Berkshire Hathaway avoids S&P rating downgrade

Standard & Poor's on Friday left its “AA” credit ratings for Warren Buffett's Berkshire Hathaway Inc alone, saying the company's growing diversification and “modest” financial risks meant a downgrade was not necessary. Berkshire had been put on review for a possible downgrade on Aug. 11, on concern about Buffett's decision to deploy a large amount of cash toward last month's $32 billion acquisition of industrial parts maker Precision Castparts Corp. But S&P analyst Laline Carvalho said Berkshire's “consistently strong” operating profitability and “exceptional”…

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Buffett’s Berkshire Hathaway avoids S&P rating downgrade

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