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Total Sells S.African Coal Assets to Exxaro for $472mn

French oil giant Total on Monday said it had inked a deal to sell its South African coal assets to mining company Exxaro Resources for $472 million (350 million euros).

Exxaro is South Africa's second-largest coal producer, with seven coal mines that produce about 40 million tonnes annually.

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Russia Ordered to Pay Yukos Shareholders $50 Billion

The arbitration court in The Hague has ordered Russia to pay shareholders of Yukos $50 billion in compensation over its seizure of the one-time oil giant, main shareholder GML Ltd said in London on Monday.

The Permanent Court of Arbitration (PCA) ruled on July 18 that Russia pay the claimants "in excess of $50 billion" after finding it had forced Yukos into bankruptcy and sold its assets to state-owned businesses for political purposes, the claimant's lawyer Emmanuel Gaillard said.

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Nissan Recalls More than 226,000 Cars over Faulty Airbags

Japanese carmaker Nissan said Saturday it was recalling 226,326 additional vehicles in the United States due to faulty airbags.

The move brings the total number of vehicles recalled for this reason to 664,628, the company said in a statement, adding that the defective airbags were made by Japan's Takata Corp.  

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Analysts: Asset Bubbles Could Deflate Global Recovery

In a world still struggling to shake off the worst financial crisis for a generation, many economists are worrying that new asset bubbles are already threatening to derail the tepid global recovery.

Concern has been rising that investors are paying too much for securities in a search for good returns when interest rates are hovering near record lows, creating the bubble conditions for a new market crash.

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Coal Reserves Offer No Relief for India Fuel Crunch

India sits on one of the world's biggest coal reserves, yet its power stations are starved of the fuel with some idle and others running dangerously low on supplies.

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Holy Month of Ramadan is a Big Boon for Retailers

Glitzy billboards in the Middle East and postage stamps in the U.S. Advertisements for lingerie and sales on modest skirts. Lavish buffets and cellphone apps.

Ramadan, Islam's holiest month, is a boon for retailers in the Middle East, South Asia and beyond. And while some Muslims welcome it as a positive sign, others see it as commercialization of a sacred time of year.

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Top One Percent Control a Third of China's Wealth

The top one percent of households in Communist-ruled China control more than one third of the country's wealth, while the bottom 25 percent control just one hundredth, official media said, citing an academic report.

The 2012 figures contained in a Peking University report released late Friday reveal the massive breadth of China's social inequality, a widespread source of anger in the country.

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Danone Says Profits Soured by Weak Currencies, Food Scare

Global food and dairy group Danone reported a first-half profit slump on Friday, blaming weak emerging currencies and the effects of a false food scare last year which hurt China sales.

Net profit fell by 37.0 percent from the equivalent figure last year, but the French-based group said that this was partly because an asset sale had inflated the 2013 figure.

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Ukraine, Middle East Weigh on German Business Confidence

The crises in Ukraine and the Middle East are eroding business confidence in Germany, Europe's top economy, a key indicator showed on Friday.

The Ifo economic institute's closely watched business climate index fell sharply to 108.0 points in July from 109.7 points in June -- the third drop in a row, to the lowest level since October 2013.

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Turkey to Inaugurate Ankara-Istanbul High Speed Train Line

Turkey on Friday inaugurates the first high-speed train link between its main cities of Ankara and Istanbul, in the latest bid by Prime Minister Recep Tayyip Erdogan to modernize the country's infrastructure.

After years of constant delays that has seen the project become a standing joke among Turks, Erdogan on Friday evening is due to glide into Istanbul aboard the first train.

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