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China'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.
U.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.
BlackBerry 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.
By 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.
Ray 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.
New 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.
NEW 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.
(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.
Washington 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.