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VW says fuel usage understated on some models; Porsche warns

Volkswagen on Tuesday said it had understated the fuel consumption of 800,000 cars sold in Europe, while majority stakeholder Porsche Automobil Holding SE warned that VW's latest findings could further weigh on its results. The latest revelation about fuel economy and carbon dioxide emissions, which Germany's largest automaker said represented a roughly 2 billion euro ($2.19 billion) economic risk, deepened the crisis at VW. The scandal…

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VW says fuel usage understated on some models; Porsche warns

Honda drops Takata air bag inflators after U.S. fine, ban on volatile chemical

TOKYO/WASHINGTON (Reuters) – Honda Motor Co said it was ditching air bag inflators made by Japan's Takata Corp , after the top U.S. auto safety regulator on Tuesday fined the supplier $70 million and ordered it to stop using…

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Honda drops Takata air bag inflators after U.S. fine, ban on volatile chemical

Fed faces patchwork recovery despite near-normal labor markets

By Howard Schneider ALEXANDER CITY, Ala (Reuters) – As gleaming new factories turn out Airbus aircraft and Hyundai cars in Alabama's urban centers, this small town that once was home to Russell Athletics shows the dilemma now faced by U.S. policymakers. Economic recovery has…

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Fed faces patchwork recovery despite near-normal labor markets

AB InBev, SABMiller extend takeover deadline to November 11

Brewer SABMiller Plc has extended the deadline for rival Anheuser-Busch InBev to make a formal $100 billion-plus takeover offer by a further week in order to finalize shareholder support for the deal. The two companies said in a joint statement on Wednesday that London's Panel on Takeovers and Mergers had granted SABMiller's request to push back the deadline to 5 p.m. (12.00 midnight ET) on Wednesday, November 11. The …

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AB InBev, SABMiller extend takeover deadline to November 11

Cuba signs deal with Sprint, says it is open for more business

By Daniel Trotta and Jaime Hamre HAVANA (Reuters) – Cuba signed a roaming agreement with U.S. telecom Sprint Corp during its first annual trade fair since rapprochement with the United States and told 600 companies from 70 countries at that it was eager for more business. The Havana International Fair

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Cuba signs deal with Sprint, says it is open for more business

Shire to buy Dyax for $5.9 billion, still wants Baxalta

Shire Plc has agreed to buy U.S. rare disease specialist Dyax Corp for about $5.9 billion – and potentially up to $6.5 billion – while still pursuing a five times larger unsolicited bid for Baxalta Inc . Given its existing HAE presence, Ornskov acknowledged the deal would be scrutinized by antitrust authorities and he said Shire was already preparing for this.

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Shire to buy Dyax for $5.9 billion, still wants Baxalta

Porsche, more Audi models pulled into VW emissions scandal

By Patrick Rucker and Timothy Gardner WASHINGTON (Reuters) – Volkswagen used devices to cheat air pollution tests in diesel luxury vehicles, U.S. environmental regulators said on Monday, in a new blow to the automaker already reeling from similar allegations regarding…

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Porsche, more Audi models pulled into VW emissions scandal

U.S. on track to grow 1.9 percent in fourth quarter: Atlanta Fed

The U.S. economy is on track to grow 1.9 percent in the fourth quarter with expected weaker consumer spending and equipment investment growth following a private report on U.S. manufacturing in October, the Atlanta Federal Reserve's GDPNow forecast model showed on Monday. This was slower than the regional Fed's prior estimate of 2.5 percent rate on Friday, the Atlanta Fed said on its website. The model downgraded its outlook…

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U.S. on track to grow 1.9 percent in fourth quarter: Atlanta Fed

Visa to buy Visa Europe in deal worth as much as $23 billion

The price for the long-anticipated deal was higher than many had expected, but ended a period of strategic uncertainty that had dogged Visa in recent months. Visa Inc and Visa Europe, a cooperative of European banks with more than 500 million cards, were part of a global bank-owned network until 2007. Most of the units merged to form Visa Inc, which went public in 2008, leaving Visa Europe

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Visa to buy Visa Europe in deal worth as much as $23 billion

Lufthansa cabin crew union says pay talks have failed

Talks between Lufthansa and its main cabin crew union have failed, the union said on Saturday, raising the prospect of more strikes at the German carrier. Lufthansa is in talks with various staff groups as it seeks to cut costs in order to compete better with low cost carriers and Gulf rivals. A long-running dispute with its pilots over pay and conditions has already resulted in more than a dozen strikes over a period of 18 months.

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Lufthansa cabin crew union says pay talks have failed

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