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China’s ChemChina, Sinochem set to merge: Caixin

BEIJING (Reuters) – Chinese state-owned Sinochem and ChemChina will merge to create a new company, to be headed by Sinochem chief Ning Gaoning, financial publication Caixin reported on Saturday, confirming an earlier Reuters report. FILE PHOTO: The company logo of China National Chemical Corp, or ChemChina, is seen at its headquarters in…

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Wall Street ekes out gain as Nike surges

NEW YORK (Reuters) – Wall Street’s major stock indexes edged higher on Friday, as a surge in Nike Inc shares helped the quarter close out on an upswing while concerns over U.S. international trade relations ebbed. For the quarter, the Dow, the S&P 500 and the Nasdaq all posted gains. The Dow…

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Stress test results signal more flexible new-look Fed

WASHINGTON (Reuters) – This year’s Federal Reserve stress test results suggested a more flexible approach, a further sign the regulator’s new leadership is responding positively to a Wall Street push for pragmatic bank supervision, analysts and lawyers said. FILE PHOTO: The Federal Reserve headquarters in Washington, U.S., September 16, 2015. REUTERS/Kevin Lamarque/File…

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Comcast says services being restored after outage

(Reuters) – Comcast Corp (CMCSA.O) said on Friday services interrupted by two separate incidents of fiber cuts at its network providers were being restored. FILE PHOTO: The Comcast NBC logo is shown on a building in Los Angeles, California, U.S. June 13, 2018. REUTERS/Mike Blake “Our engineers worked to address the issue…

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Tesla lagging on Model 3 production, workers say

SAN FRANCISCO (Reuters) – Tesla Inc (TSLA.O) is not producing enough Model 3s per shift to reach the 5,000 per week target that Chief Executive Officer Elon Musk said it would reach by Saturday, three line workers at the company’s Fremont, California, assembly plant told Reuters this week. The company was able…

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