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Maersk bets on cold storage to boost land transportation business

By Nikolaj Skydsgaard COPENHAGEN (Reuters) – Maersk <MAERSKb.CO>, the world’s biggest shipping company, plans to focus on premium services such as cold storage and digital solutions to avoid competing with its own freight-forwarding clients as it expands in the land transportation business. Since announcing a new strategy in 2016, which included selling its oil and […]

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New Wells Fargo CEO brings Wall Street swagger to storied bank

By Imani Moise (Reuters) – Charles Scharf will make his public debut as Wells Fargo & Co’s <WFC.N> chief executive during the bank’s quarterly earnings call on Tuesday, and those who have worked with him in the past say he is likely to strike a much different chord than his predecessors. For years, Wells CEOs […]

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Apple pushes recycling of iPhone with ‘Daisy’ robot

(This corrects temperature conversion in seventh paragraph in the story dated January 10.) AUSTIN, Texas (Reuters) – Apple Inc <APPL.O> is trying to change the way electronics are recycled with a robot that disassembles its iPhone so that minerals can be recovered and reused, while acknowledging rising global demand for electronics means new mines will […]

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Carmakers and banks drag on European markets, London outperforms

By Susan Mathew (Reuters) – European shares fell on Monday as carmakers took a hit from a Chinese sales forecast while the London market outperformed after weak economic data raised expectations of a Bank of England rate cut. Auto stocks <.SXAP> broke a four-day winning run to fall 0.9%. Renault <RENA.PA> led the fall, hitting […]

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Bank of Canada says business outlook data released early, regrets error

OTTAWA (Reuters) – The Bank of Canada on Monday said it mistakenly published data from a quarterly business outlook survey on its website nine minutes early. “The Bank regrets this error and is initiating a review of its publication process,” Canada’s central bank said in a statement. (Reporting by Kelsey Johnson in Ottawa)

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German coalition quarrels over how to spend record budget surplus

By Holger Hansen and Michael Nienaber BERLIN (Reuters) – Chancellor Angela Merkel’s ruling coalition is at odds over how to spend a record budget surplus, with her conservatives calling for corporate tax cuts while center-left Finance Minister Olaf Scholz is favoring more public investment. Berlin faces pressure at home and abroad to inject more fiscal […]

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UK economic growth weakest since 2012 in November

By David Milliken and Andy Bruce LONDON (Reuters) – Britain’s economy grew at its weakest annual pace in more than seven years in November, raising expectations that the Bank of England will cut interest rates later this month. Monday’s official figures showed the economy in November – before last month’s decisive election win for Prime […]

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Ford’s China vehicle sales drop 26% in third straight year of decline

By Brenda Goh and Yilei Sun SHANGHAI (Reuters) – Ford Motor Co’s <F.N> China vehicle sales fell for a third consecutive year, by 26.1%, as it battles a prolonged overall sales decline in its second-biggest market that has hit demand for its mass-market Ford brand and sports utility vehicles. The U.S. automaker delivered 146,473 vehicles […]

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Siemens to support Australian coal project despite protests

FRANKFURT (Reuters) – German engineering group Siemens <SIEGn.DE> said it would fulfil its contractual obligations to a controversial coal mining project in Australia’s outback, attracting criticism from environmental groups on Monday. Siemens was awarded a contract last year to provide signaling technology for a railway line to transport coal from a remote coal mine run […]

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Fed’s Rosengren warns of inflation risks to central bank’s ‘almost ideal’ economic outlook

By Jonnelle Marte HARTFORD, Conn (Reuters) – U.S. Federal Reserve policymakers are forecasting an “almost ideal” outcome in 2020 where the U.S. labor market will stay strong and inflation will approach the central bank’s 2% target, but officials should remember to consider potential risks, Boston Federal Reserve Bank President Eric Rosengren said on Monday. Among […]