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China says EU should take steel dumping claims to WTO

A labourer works at a steel market in ShanghaiChina's Ministry of Commerce said that claims it was dumping steel in Europe should be put to the World Trade Organization (WTO), responding to reports that the European Commission (EC) was preparing to impose duties on imported Chinese steel. WTO members should fulfill their treaty obligations and stop using "surrogate countries" to pursue anti-dumping claims, a Ministry of Commerce spokesman said, according to a statement released on the ministry's website on Saturday. The EC is set to impose provisional duties later this month of up to 16 percent on China, and of up to 26 percent on Russia, following its investigation into alleged dumping by the two countries.

Sat, 06 Feb 2016 05:58:41 -0500
U.S. labor market on solid ground as jobless rate hits eight-year low

Job seekers break out to visit employment personnel at "Hiring Our Heroes" military job fair in WashingtonU.S. employment gains slowed more than expected in January as the boost to hiring from unseasonably mild weather faded, but rising wages and an unemployment rate at an eight-year low suggested the labor market recovery remains firm. Non-farm payrolls increased by 151,000 jobs and the unemployment rate slipped one-tenth of a percentage point to 4.9 percent, the lowest since February 2008, the Labor Department said on Friday. The payrolls gain was a sharp step-down from the average 231,000 jobs per month during the fourth quarter.

Fri, 05 Feb 2016 14:32:16 -0500
Business services firms' shares bleed as LinkedIn, Tableau crash

A woman takes pictures of the New York Stock ExchangeNEW YORK/SAN FRANCISCO (Reuters) - Dismal sales outlooks from marquee technology names sent shares in the enterprise sector crashing on Friday as investors questioned whether information-technology managers would keep spending on their products.

Fri, 05 Feb 2016 18:03:48 -0500
BlackBerry cuts 200 jobs in Ontario and Florida to trim costs

A sign is seen at the Blackberry campus in WaterlooBlackBerry Ltd is cutting 200 jobs at its hometown headquarters in Ontario and in Florida in order to trim costs, it said on Friday, as the smartphone maker moves to turn around its fortunes and put more emphasis on its enterprise software business. "As BlackBerry continues to execute its turnaround plan, we remain focused on driving efficiencies across our global workforce," the company said in an emailed statement. The layoffs will affect 75 manufacturing jobs in Sunrise, Florida, a state government website showed.

Fri, 05 Feb 2016 19:08:31 -0500
Canadian love affair with Manhattan real estate seen unabated

People line a dock in Brooklyn to watch the sun set behind the Manhattan skyline after a summer storm in New YorkBy Allison Lampert MONTREAL (Reuters) - Canadian investment in the Manhattan commercial property market is expected to stay strong this year after quadrupling to hit a record in 2015, real estate specialists said. Canadians accounted for almost a third of the $25.6 billion in foreign capital that poured into Manhattan commercial properties last year, with investment swelling to $8.3 billion from $1.97 billion a year earlier, according to data from Real Capital Analytics. "The trend will continue in New York," said Ric Clark, chairman of Brookfield Property Group, a real estate division of Toronto-headquartered Brookfield Asset Management.

Fri, 05 Feb 2016 16:24:01 -0500
Bridgewater's Dalio calls report about feud with Jensen overblown

Dalio, Chairman and Chief Investment Officer of Bridgewater Associates gestures at the Ending the Experiment event in the Swiss mountain resort of DavosRay Dalio, founder of Bridgewater Associates LP, the world's largest hedge fund, said on Friday that a Wall Street Journal story about a dispute with his heir apparent, Greg Jensen, was overblown. The newspaper reported that Dalio and Jensen had gone as far as to call for a dozen senior employees and stakeholders to vote on their character and conduct in a bid to resolve the dispute. "Greg and I have had lots of disputes over the last 20 years, and what's great is that we have a systematic process for working ourselves through them," he added in a statement.

Fri, 05 Feb 2016 19:03:42 -0500
New Jersey sues Volkswagen over excess diesel emissions

Volkswagen sign is seen at a Volkswagen dealership in CarlsbadNew Jersey on Friday filed a lawsuit against Volkswagen AG and its luxury units over the German automaker's excess diesel emissions, becoming the fourth U.S. state to take legal action. New Jersey's acting attorney general, John J. Hoffman, accused VW and its Porsche and Audi units of perpetrating a massive fraud on consumers and violating state clean air laws. VW has admitted installing illegal diesel emissions software to allow 580,000 U.S. diesel vehicles sold since 2009 to emit up to 40 times legally allowable emissions.

Fri, 05 Feb 2016 17:06:08 -0500
Argentina offers $6.5 billion cash deal to end debt battle

U.S.-court appointed mediator Daniel Pollack exits his office after a meeting on Argentina's debt crisis, in New YorkNEW YORK/BUENOS AIRES (Reuters) - Argentina offered a $6.5 billion cash payment to creditors suing the country over defaulted bonds on Friday, seeking to end a festering 14-year legal battle that transformed the country into a financial markets pariah. Two out of six leading bondholders have already accepted the offer, the U.S. court-appointed mediator said, hailing the proposal by Argentina's new, business-friendly government as an "historic breakthrough". The offer, if accepted by all litigating bondholders, would represent a roughly 25 percent discount or so-called haircut for creditors who filed claims of about $9 billion.

Fri, 05 Feb 2016 22:22:54 -0500
Yogurt maker Chobani rejects PepsiCo's offer for stake in company

Photo illustration of a bottle of Pepsi in Willmette, Illinois(Reuters) - Greek-yogurt maker Chobani LLC, founded by billionaire Hamdi Ulukaya, said on Friday it had rejected offers from beverage giant PepsiCo Inc and other investors. Chobani worked with Goldman Sachs Group Inc to explore the sale after being approached by several parties in 2015. The decision to reject the offer was due in part to the terms, Chobani said in an email to Reuters.

Fri, 05 Feb 2016 20:37:16 -0500
Washington lawmakers nix bill linking tax breaks to Boeing jobs

Ground crew members escort a Boeing 737 MAX as it returns from a flight test at Boeing Field in Seattle, WashingtonWashington state lawmakers voted down a bill on Friday that would have forced Boeing to keep a minimum number of jobs in the state in exchange for receiving billions of dollars in tax breaks. The 7-8 vote in the state's House Finance committee means the measure will not advance to a floor vote. "The timing is not right, right now," for restricting Boeing, said state Rep. Cary Condotta, a Republican who voted against the measure, citing the state's economic weakness.

Fri, 05 Feb 2016 21:00:26 -0500
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