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Maersk, Alibaba team up to offer online booking service for ship space

The world's largest container shipping line Maersk has teamed up with Alibaba to allow shippers of goods to reserve space on its vessels through the Chinese e-commerce giant, in a move that bypasses traditional middleman freight forwarders. Maersk, a unit of Denmark's A.P. Moller-Maersk , began offering the service to Chinese shippers on Alibaba's OneTouch booking website on Dec. 22, a spokeswoman for the shipping line said on Wednesday. Shippers traditionally go through freight forwarders to book space on container ships, but …

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Maersk, Alibaba team up to offer online booking service for ship space

Oil prices rise on expected drop in U.S. oil inventories

By Karolin Schaps LONDON (Reuters) – Oil edged higher on Wednesday on expectations that U.S. crude oil inventories are falling and on signs that oil producers are willing to stick to agreed output cuts that came into effect this week. Global benchmark Brent crude futures were up 49 cents at $55.96 a barrel by 0924 GMT (4:24 a.m. ET). U.S. West Texas Intermediate (WTI) crude futures were trading at $52.82 per barrel, up 49 cents from the last settlement.

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Oil prices rise on expected drop in U.S. oil inventories

Judge halves $1 billion award in J&J hip implants case

U.S. District Judge Ed Kinkeade in Dallas cited “constitutional considerations” that limit how much plaintiffs may recover in punitive damages but upheld the jury's findings that the implants were defectively designed and that the companies failed to warn consumers about the risks. Around $500 million of punitive damages would be cut from the more than $1 billion awarded to the plaintiffs who are California residents that were implanted with the hip devices and experienced tissue …

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Judge halves $1 billion award in J&J hip implants case

Exxon Mobil, Tillerson agree to cut all ties

If his appointment is confirmed, the value of more than 2 million deferred Exxon Mobil shares (worth about $182 million at Tuesday's closing price) that Tillerson would have received over the next 10 years will be transferred to an independently managed trust, the company said in a statement. The share awards will be …

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Exxon Mobil, Tillerson agree to cut all ties

Chided by Trump, Ford scraps Mexico factory, adds Michigan jobs

By Bernie Woodall and David Shepardson FLAT ROCK, Mich./WASHINGTON (Reuters) – Ford Motor Co on Tuesday scrapped a planned Mexican car factory and added 700 jobs in Michigan following criticism by Donald Trump, as the U.S. president-elect turned his attention toward rival General Motors Co with the threat of a “big border tax” over compact cars made in Mexico. Ford CEO Mark Fields called the move “a vote of confidence” in Trump, but primarily a response to a decline in North…

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Chided by Trump, Ford scraps Mexico factory, adds Michigan jobs

South Korea bans sales of some Nissan, BMW and Porsche models

South Korea has banned the sale of 10 models of Nissan, BMW and Porsche vehicles after the carmakers were found to have fabricated certification documents, in the latest fallout from the Volkswagen emissions scandal. The government announced in August that it would ban all 10 models after conducting an investigation into whether foreign carmakers besides Volkswagen…

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South Korea bans sales of some Nissan, BMW and Porsche models

Samsung Electronics to reveal Galaxy Note 7 probe results this month: JoongAng Ilbo

SEOUL (Reuters) – Samsung Electronics Co Ltd will announce this month the results of an investigation into what caused some of its Galaxy Note 7 smartphones to catch fire, the JoongAng Ilbo newspaper reported on Monday citing unnamed sources. The South Korean firm said in October it was

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Samsung Electronics to reveal Galaxy Note 7 probe results this month: JoongAng Ilbo

New drug approvals fall to six-year low in 2016

Last year turned out to be a disappointing one for new drug approvals with the U.S. Food and Drug Administration clearing just 22 new medicines for sale, the lowest number since 2010 and sharply down on 2015's tally of 45. Across the

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New drug approvals fall to six-year low in 2016

Bitcoin jumps above $1,000 for first time in three years

By Jemima Kelly LONDON (Reuters) – Digital currency bitcoin kicked off the new year by jumping above $1,000 for the first time in three years late on Sunday, having outperformed all central-bank-issued currencies with a 125 percent climb in 2016. Bitcoin – a web-based “cryptocurrency” that has no central authority, relying instead on thousands of computers across the world that validate transactions and add new bitcoins to the system – jumped 2.5 percent to $1,022 on the…

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Bitcoin jumps above $1,000 for first time in three years

Hyundai, Kia target sales rebound after first fall in 18 years

Hyundai Motor and affiliate Kia Motors on Monday forecast global sales to rebound in 2017 by a stronger-than-expected 5 percent, after posting their first annual sales fall in nearly two decades last year. Sales could get a lift this year with emerging markets such as Russia stabilizing, and with Hyundai and Kia Motors gearing up to boost supply to the United States and China, analysts said. “With the global economy continuing its low growth, trade protectionism spreading and competition intensifying in…

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Hyundai, Kia target sales rebound after first fall in 18 years

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