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France's LVMH Says to Buy Luxury Hotel Group Belmond for $3.2 bn

French luxury giant LVMH said Friday that it had reached agreement to buy hotel group Belmond, whose properties include the Copacabana Palace in Rio de Janeiro and Cipriani in Venice, in a transaction worth $3.2 billion (2.8 billion euros).

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China Says to Suspend Extra Tariffs on US Cars, Parts

China announced Friday it will suspend extra tariffs added to US-made cars and auto parts for three months starting on January 1 as part of the trade war truce with the United States.

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Italy's New 2019 Deficit Plan Still Not Enough,Says Moscovici

A new 2019 budget plan from the Italian government to reduce its deficit to 2.04 percent of GDP is still not enough to secure EU approval, Economic Affairs Commissioner Pierre Moscovici said Thursday.

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Arrest of Nissan Star Ghosn Raises Speculation over Coup

The surprise arrest of Nissan's former chairman on charges of falsifying financial reports is providing a window into possible corporate intrigue at the Japanese automaker.

Japanese media and some analysts have raised the possibility that the charges against Carlos Ghosn were engineered to sideline him and give Nissan an excuse to end a lopsided alliance with French automaker Renault SA.

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End of an Era as ECB Set to Withdraw Crisis-Fighting Stimulus

A chapter of eurozone history will come to a close Thursday, with the European Central Bank widely expected to withdraw a key element of support for the economy while reassuring observers fearful of the growing risks.

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Spain to Raise Minimum Wage 22% in 2019

Spanish Prime Minister Pedro Sanchez said Wednesday his cabinet would approve next week a 22 percent increase in the monthly minimum wage to 1,050 euros ($1,192) in 2019.

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Oil Producers to Review Cuts Impact in April, Says UAE

Oil producers who agreed last week to trim production to boost prices will meet in April to review the impact and sign a long-term  pact, the UAE minister said Wednesday.

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France Can Breach EU Budget Rules for Short While, Says Moscovici

EU Economic Affairs Commissioner Pierre Moscovici said Wednesday France could breach EU budget rules for a short while if necessary, after concessions to "yellow vest" protesters costing billions of euros blew out its deficit targets.

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Lawyers Protest Detention of Kelly, Ghosn's Co-Accused

Lawyers for Greg Kelly, the American executive arrested last month with Nissan's former chairman Carlos Ghosn on suspicion of underreporting Ghosn's pay, protested his prolonged stay in Japanese detention Wednesday.

The Tokyo District Court confirmed it received the protest. Lawyers often file such protests in Japan, where suspects get detained for weeks, sometimes months, before they face trial. Such protests tend to be routinely rejected.

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Mexico Cancels Oil Auctions under New President

Mexico's energy regulator said Tuesday it was canceling its remaining oil block auctions for private firms, the centerpiece of the country's landmark energy reform, now under attack by new President Andres Manuel Lopez Obrador.

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