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Italian Economy to Grow 1.3% in 2019, Agency Says

The Italian economy is forecast to grow 1.3 percent next year, the national statistics agency said Wednesday, below the government's estimate of 1.5 percent included in a big-spending budget rejected by Brussels.

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Energy Firms Track Plunge in Oil, Asia Markets Temper Losses

Energy companies suffered further losses on Wednesday following a collapse in oil prices while most Asian markets fell, but with the sharp losses witnessed in the morning being tempered.

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Nissan Shares Plunge as Ghosn Faces Ouster after Arrest

Nissan and Mitsubishi shares plunged Tuesday after chairman Carlos Ghosn was arrested for alleged financial misconduct, that reportedly included exorbitantly priced houses and diverted compensation.

The two automakers have already said they will propose removing Ghosn, and Renault -- which the titan also heads -- said it would meet later in the day to discuss his fate.

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World Wine Output Rises 13% after Disastrous Year

Global wine production rose 13 percent this year, after a catastrophic 2017 which was marked by heatwaves, frosts and hailstorms, the International Organization of Vine and Wine (OIV) said Monday.

It said production was estimated at 279 million hectoliters (mhl) this year, "one of the highest since 2000."

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Carlos Ghosn, the Auto World's 'Cost Killer'

Brazilian-born Carlos Ghosn, who is facing a pay scandal in Japan, has long stood out among the world's auto executives as a hard-nosed workaholic willing to take drastic measures to get companies back on their feet quickly.

As head of the Renault-Nissan-Mitsubishi alliance, Ghosn has created an industrial behemoth, its combined 470,000 employees selling 10.6 million vehicles last year from 122 factories around the globe.

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Renault Shares Down over 8% after CEO Arrested in Nissan Scandal

Shares in French automaker Renault fell more than eight percent in Paris on Monday after CEO Carlos Ghosn was arrested over allegations of financial misconduct as chairman of Japan's Nissan.

Renault shares fell over 12 percent in morning trading on the news before recovering slightly to end down 8.43 percent at 59.06 euros.

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U.S. Stocks Drop on Trade Tensions, Apple Weakness

Wall Street stocks opened a holiday-shortened week on a tepid note Monday, declining amid trade war worries and weakness in tech giant Apple.

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China's Xi in Brunei as Oil-Dependent Sultanate Seeks Investment

President Xi Jinping visited Brunei on Monday, with the sultanate turning to China to boost its flagging, oil-dependent economy as warnings mount about Beijing drowning small countries in debt.

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Impeached Economy Minister to Head Iran Oil Firm

Iran's former economy minister, impeached less than three months ago, will head the national oil company as it works to evade renewed US sanctions, local media reported Monday.

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China's Former Trade Negotiator Questions Tariff Strategy

China's former top trade negotiator has questioned Beijing's strategy in the trade row with Washington, offering a rare window into a policy disagreement in the Communist-ruled country.

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