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Lufthansa cancels 35 flights on Sunday

Germany's biggest airline Lufthansa has canceled 35 flights on Sunday as the fallout from a four-day strike by pilots over pay spilled into a fifth day. “Almost all LH (Lufthansa) flights will operate according to schedule tomorrow. A spokesman also denied an unsourced report in Frankfurter Allgemeine Zeitung that said the airline had considered going insolvent to rid itself of the costly labor

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Lufthansa cancels 35 flights on Sunday

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Siemens is well placed to adapt business in U.S.: CEO

German trains-to-turbines group Siemens is well placed to do business in the United States, regardless of whether President-elect Donald Trump backs fossil-fuels at the expense of renewable energy, its CEO told a newspaper. Steam power plants that are powered by coal, state-of-the-art gas-fired power plants, wind energy, we can build solar parks and the necessary link to the power grid,” Joe Kaeser …

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Siemens is well placed to adapt business in U.S.: CEO

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Volkswagen to cut 30,000 jobs

By Andreas Cremer and Jan Schwartz WOLFSBURG, Germany (Reuters) – Volkswagen and its labor unions agreed to cut 30,000 jobs at the core VW brand in exchange for a commitment to avoid forced redundancies in Germany until 2025, a compromise which leaves the carmaker's profitability still lagging rivals. …

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Volkswagen to cut 30,000 jobs

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Under pressure on U.S. jobs, Ford tries new gambit with Trump

Ford Motor Co , one of Donald Trump's prime corporate targets on the campaign trail, offered the President-elect a chance to claim a victory late on Thursday by informing him it would not shift production of a Lincoln sport utility vehicle to Mexico from Kentucky. Trump jumped at the chance, claiming in…

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Under pressure on U.S. jobs, Ford tries new gambit with Trump

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Obama officials work against time to wrap banking rules

U.S. officials are striving to put finishing touches on a slew of banking rules before President Barack Obama leaves office and hands regulatory power to Donald Trump who has vowed to rewrite the existing financial rule book. President-elect Trump will take over on Jan. 20 and his fellow Republicans will have control of Congress and government agencies, allowing the new administration to block or roll back many of the last-minute changes. Some rules are meant to flesh out the Dodd Frank Act of 2010 designed to …

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Obama officials work against time to wrap banking rules

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Fed to proceed with December U.S. rate rise despite Trump upset: Reuters poll

While there was no prior official view on what the Fed would do if Trump won in a contest where nearly every poll of U.S. voters pointed to a victory for Democrat Hillary Clinton, many had said ensuing uncertainty from an upset might put up a roadblock. When the Fed last hiked, its first in the current cycle off the zero bound, it expected to have delivered four more by now, but was thrown off course several times throughout the year. Inflation has not picked …

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Fed to proceed with December U.S. rate rise despite Trump upset: Reuters poll

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S&P affirms U.S. investment-grade ratings after presidential election

Donald Trump won the U.S. presidential election in a stunning upset, and will take office in January, with the Republicans maintaining majority control of the House of Representatives and the Senate. “We assume the longstanding institutional strengths and robust checks and balances of the U.S. will support policy execution in a Trump administration, despite the president-elect's lack of experience in public office, which raises uncertainty on policy proposals,” the ratings agency said.

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S&P affirms U.S. investment-grade ratings after presidential election

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White House urges ban on non-compete agreements for many workers

The administration said so-called non-compete agreements interfere with worker mobility and states should consider barring companies from requiring low-wage workers and other employees who are not privy to trade secrets or other special circumstances to sign them. Vice President Joe Biden in a statement said he had heard from a…

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White House urges ban on non-compete agreements for many workers

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Oil climbs as Venezuela sees output deal, Libya suffers clashes

Oil prices rose almost 2 percent on Monday, after Venezuela said OPEC and non-OPEC producers were close to reaching an output deal and as clashes in Libya raised concerns that efforts to restart crude exports could be disrupted. Venezuelan President Nicolas Maduro has said that a deal could be announced this month to stabilize oil markets, which have come under pressure due to a persistent glut and a …

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Oil climbs as Venezuela sees output deal, Libya suffers clashes

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No significant progress in auto talks with GM: Canada Unifor union

By Ethan Lou TORONTO (Reuters) – General Motors Co and the Canadian union Unifor have not yet made any significant progress in their talks to hammer out a new contract, the labor group's President Jerry Dias said on Saturday as the sides entered the final stretch of negotiations. GM and the Unifor have been divided over union demands that the U.S. carmaker commit to new vehicle models at its Oshawa, Ontario, plant. A four-year contract covering some 20,000 Canadian autoworkers…

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No significant progress in auto talks with GM: Canada Unifor union

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