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Oil Rises on Iran Fears, Easing of Eurozone Worries

Oil prices edged higher in Asian trade Monday as major crude producer Iran and Western powers failed to reach agreement over Tehran's nuclear programme, analysts said.

Markets were also supported by signs Greeks would elect a pro-austerity government in upcoming polls, easing concerns the debt-wracked country would exit the eurozone and trigger a global economic crisis.

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Hyundai Shipyard Wins $700 Mn Order from Norway

South Korean shipbuilding giant Hyundai Heavy Industries has won a $700 million order from a Norwegian company to build the world's largest semi-submersible oil rig, it said Monday.

Hyundai said the rig would be delivered to Norway's Fred Olsen Energy in March 2015 and would be used in the North Sea.

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Apple Chief Passes on $75 Million in Stock Dividends

Apple chief executive Tim Cook has opted not to take $75 million in dividend payout on restricted shares of stock he owns in the maker of iPhones, iPads, iPods and Macintosh computers.

Documents on file with the U.S. Securities and Exchange Commission on Friday said that while other Apple employees will be awarded quarterly "dividend equivalents" of $2.65 on restricted shares, Cook asked not to be included.

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JPMorgan Boss to Face Lawmakers June 7

JPMorgan Chase's embattled chief executive Jamie Dimon will be hauled before Congress on June 7 to explain recent huge trading losses, legislators announced Friday.

Dimon will testify before the Senate Banking Committee as committee chair Tim Johnson vowed to "get to the bottom of the massive trading loss."

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Spain's Bankia Seeks Record Bailout of 19 Billion Euros

Spain's fourth-biggest bank, Bankia, said Friday it will ask the government for 19 billion euros ($24 billion) in the largest bank bailout in the country's history.

The bank, which holds some 10 percent of the nation's bank deposits, said the request will be part of a recapitalization plan which it approved at a board meeting on Friday and is backed by the government and the Bank of Spain.

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Delphi in $1 Bn Bid for French Auto Firm

Delphi, the giant automotive supplier that was once part of General Motors, has offered just under $1 billion for the major piece of a French company that makes electronic connectors.

Delphi said late Thursday it was close to completing a deal to buy the motorized vehicles division of connectors maker FCI for $972 million.

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Donors Mull Marshall Plan for Post-Conflict Syria

Diplomats from nearly 60 countries discussed Thursday a plan drafted by Germany and the United Arab Emirates to try to avoid a total collapse of Syria's economy in the face of 14 months of bloodshed.

The Working Group on Economic Recovery and Development of the Group of Friends of the Syrian People began talks in the UAE capital Abu Dhabi on a rescue plan for a post-conflict Syria similar to the Marshall Plan implemented in post-World War II Europe.

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Lebanese-Canadian Named BMW’s New Designer

The Lebanon-born Canadian designer Karim Habib has been named by BMW to lead the design of its brand cars starting June 1.

Habib, 42, has joined the BMW team in 1998, followed by a brief stint with Mercedes-Benz but returned to BMW and has been in charge of Exterior Design for the car-maker since March 2011.

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Australia Plans Special Visa for Millionaires

Australia plans to roll out the red carpet for wealthy businesspeople by establishing a visa category offering a pathway to residency if they invest at least Aus$5 million (US$4.9 million).

Immigration Minister Chris Bowen said it was important to attract people prepared to make a significant investment in creating jobs and economic growth, and he expected keen interest from booming China.

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Toyota Making Eight New Models for Emerging Markets

Toyota said Friday it would roll out a number of new compact cars priced around $12,500 in developing nations, targeting sales of more than one million of the models annually in emerging markets by 2015.

Japan's biggest automaker said it would make eight new cars at plants in Thailand, Indonesia, India and Brazil, priced at "about 1.0 million yen ($12,500) or more."

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