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Slumping Camera Demand Takes Bite out of Canon Profit

Japan's Canon said Tuesday that slumping demand for cameras took a bite out of its bottom line, as consumers increasingly turn to picture-taking smartphones.

The company also blamed sagging sales of its office printers in China and across Asia for a 19 percent decline in nine-month net profit to 151.3 billion yen ($127 million).

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German Transport Minister in U.S. Talks on VW Scandal

Germany's transport minister was in Washington Monday to brief his U.S. counterpart on the steps Berlin is taking to address the pollution-cheating scandal roiling Volkswagen, officials said.

Germany's Alexander Dobrindt met Anthony Foxx to discuss Volkswagen, the auto giant which has been under fire since revelations that it purposely evaded U.S. emissions limits.

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IndiGo Launches India's Largest IPO in Three Years

India's largest carrier IndiGo launched the country's biggest initial public offering (IPO) in three years Tuesday, seeking to raise $460 million to extend its dominance of the budget airline sector.

IndiGo, India's only consistently profitable airline, is selling shares at between 700 rupees ($11) and 765 rupees each and plans to use the money raised to expand operations and trim debt.

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Wal-Mart Eyes Drone Home Deliveries

Wal-Mart is actively looking at the possibility of using drones to make deliveries to U.S. customers, a spokesman said Monday, following the lead of Amazon and other retailers.

The retail behemoth has been testing the technology indoors "for several months" and on Monday made a request to U.S. aviation authorities to do likewise outside.

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Trump: Dad's 'Small Loan' of $1 Million Got him Started

Donald Trump enjoys his reputation as a magnate whose own smarts and business savvy made him a billionaire, but he acknowledged Monday that his father helped him out -- with a "small" million-dollar loan.

"It has not been easy for me," the Republican Party frontrunner in the 2016 presidential nomination race told an NBC television-hosted town hall in New Hampshire.

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Canada Post Suspends Plan to Drop Door-to-Door Delivery

Canada Post announced Monday it is temporarily suspending its program to switch from door-to-door delivery to centralized community mailboxes, a program opposed by incoming Prime Minister Justin Trudeau.

Outgoing Prime Minister Stephen Harper had backed the program, which would have saved money in the face of declining deliveries but cut between 6,000 and 8,000 postal jobs.

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Soaring Passport Demand Nets Syria More Than $500 Million

Syria has netted more than $500 million from passport fees this year, after raising charges for those obtained abroad to bolster foreign exchange reserves, the government said in a report Monday.

The boost in fees comes amid soaring demand for passports, and with Syrians attempting to flee their war-ravaged country for Europe in record numbers.

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Forbes: China's Richest Man 'Doubled Fortune in 12 Months'

China's richest man saw his fortune balloon by nearly $17 billion -- a sum larger than the GDP of Iceland -- in the past year, business magazine Forbes said Monday. 

Wang Jianlin, founder of real estate and entertainment conglomerate Wanda Group, saw his wealth rocket from $13.2 billion to $30 billion in the publisher's 2015 China Rich List.

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IEA Chief: Ample Crude Supplies until Mid-2016

The head of the International Energy Agency said Monday that ample supplies of oil in the world market would extend into the middle of next year, while investment is expected to decline further because of persistently low prices.

However, EIA executive director Fatih Birol said risks from seething geopolitical tensions in the oil-rich Middle East that could provide support to prices remain.

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China Leaders Meet for Five-Year Plan amid Calls for Reform

China's Communist leaders gathered Monday to plan the country's course for the next five years, official media reported, as the world's second largest economy confronts slowing growth and structural inefficiencies.

Beijing has pledged to tackle economic malaise and rampant pollution as it faces increasing calls to address problems that have soured the public mood and worried investors.

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