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Lockheed Martin CEO meets Trump, says deal to lower F-35 costs is close

Lockheed Martin Corp is close to a deal to significantly lower the cost of its F-35 aircraft, Chief Executive Officer Marillyn Hewson said on Friday after meeting with U.S. President-elect Donald Trump. “I certainly share his views that we need to get the best capability to our men and women in uniform, and we have to get it at the lowest possible price,” Hewson said to reporters in Trump Tower. Hewson had previously assured Trump she would drive down…

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Lockheed Martin CEO meets Trump, says deal to lower F-35 costs is close

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EU, U.S. strike deal to boost transatlantic insurance market

The European Union and the United States agreed on Friday to reduce legal and capital barriers to boost the $3 billion transatlantic insurance and reinsurance market. Under the deal, EU and U.S. authorities will lift requirements for reinsurers to hold more capital against risks if they operate from the other side of the Atlantic, eliminating one key hurdle for cross-border expansion. “This is a major deal that is set to benefit insurers, reinsurers and policy holders…

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EU, U.S. strike deal to boost transatlantic insurance market

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Volkswagen faces reforms, oversight for three years under U.S. settlement

Volkswagen AG, as part of a $4.3 billion settlement with U.S. regulators, on Wednesday agreed to sweeping reforms, new audits and oversight by an independent monitor for three years to resolve diesel emissions cheating investigations. Under the settlement of charges it installed secret software in U.S. vehicles to allow them to emit up to 40 times legally allowable pollution, the German automaker agreed to change the way it operates in the United States and other countries. VW will separate the jobs of product development and certification …

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Volkswagen faces reforms, oversight for three years under U.S. settlement

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FCA to invest $1 billion in U.S. plants, make Jeep pickup truck

Fiat Chrysler Automobiles said on Sunday that it would invest $1 billion to retool and modernize two plants in the U.S. Midwest, including one that would be able to make the Ram heavy-duty pickup truck currently produced in Mexico. The company also said it planned to add three new Jeep models, including a pickup truck, to its product

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FCA to invest $1 billion in U.S. plants, make Jeep pickup truck

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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

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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

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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

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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

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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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China’s Midea receives U.S. green light for Kuka takeover

China's Midea said it will complete its takeover of German robotics maker Kuka in the first half of January after the United States authorities gave the deal a green light. The bid for Kuka, a high-tech robotics manufacturer, sparked controversy in Germany amid fears that key technologies were falling into foreign hands at a time when China protects its own companies against foreign takeovers. “The United …

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China’s Midea receives U.S. green light for Kuka takeover

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