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U.S: Harvey may pinch some Gulf Coast refining, chemical projects

TELL

Oil and petrochemical plants along the U.S. Gulf Coast intend to go ahead with plans for near record spending on expansions next year, despite Hurricane Harvey driving up labor costs and slowing work, experts said. Harvey largely spared oil and petrochemical plants along the U.S. Gulf Coast from significant damage but thousands of homes and businesses were not as fortunate. ...

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U.S: Lilly to lay off 8 percent of employees in bid to cut costs

med

Eli Lilly and Co (LLY.N) said on Thursday it would lay off about 8 percent of its employees as the drugmaker, which has suffered setbacks over the past year in the development of two potential blockbuster drugs, works to cut costs. Lilly will cut about 3,500 positions around the world, resulting in yearly savings of about $500 million, beginning in ...

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U.S. cable firms embrace former foe Netflix as TV viewing shifts

netflix

A growing number of U.S. cable operators are forming alliances with Netflix Inc NFLX.O, a shift that is helping the streaming pioneer add customers as its largest single market matures. No. 3 distributor Charter Communications Inc CHTR.O is expected to make Netflix available through its set-top boxes, joining more than a dozen top U.S. pay television operators adopting a model ...

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iconic U.S. brand making cars in India

jeep-compass

An iconic American brand is setting up shop in India. Jeep officially launched its first vehicle produced in India — the 2017 Compass — at an event in Mumbai on Monday. The Compass started rolling off the assembly line near Pune, a city known for its automobile manufacturing, in June. Some of the vehicles produced there will be exported to ...

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Snapchat’s moment of truth is here

snap

Snapchat has seen much of its market value disappear since going public in March. Now the situation could go from bad to worse. Snap(SNAP), the parent company of Snapchat, fell as much as 5% in early trading Monday to a new low as some company insiders finally get the chance to cash out. The stock later rebounded and was flat ...

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Hyundai Motor profit slumps, warns China, U.S. sales malaise to persist

hundai

Hyundai Motor posted its smallest quarterly net profit in five years, falling dismally short of estimates, and warned the second half of 2017 would be challenging as political headwinds hit sales in China and slow U.S. demand continues. The South Korean firm – which together with affiliate Kia Motors is the world’s No.5 automaker – has been betting earnings will ...

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Trump says Apple will build three ‘big’ new plants in US

trump

Apple’s boss has promised to build three new manufacturing plants in the United States, according to an interview President Donald Trump has given to the Wall Street Journal. President Trump told the Journal he had a phone conversation with Apple’s chief executive Tim Cook. “I spoke to (Cook), he’s promised me three big plants – big, big, big,” said President ...

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U.S: Elliott proposes $18.5 billion Oncor deal to top Buffett

FILE PHOTO - Paul Singer, founder and president of Elliott Management Corporation, speaks at WSJD Live conference in Laguna Beach, California, U.S., October 25, 2016.     REUTERS/Mike Blake

Elliott Management Corp, the largest creditor of the bankrupt parent of Oncor Electric Delivery Co, unveiled a plan on Monday to best Berkshire Hathaway Inc’s (BRKa.N) deal for the Texas utility with a bid worth $18.5 billion, including debt. Elliott revealed in documents published on its website it was unhappy with the recovery to some creditors under an $18.1 billion ...

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Elon Musk tweets photos of first Tesla Model 3 to roll off the line

First production model of Tesla Model 3 out the assembly line in Fremont, California , U.S. is seen in this undated handout photo from Tesla Motors obtained by Reuters July 10, 2017.   Tesla Motors/Handout via REUTERS

Tesla Inc (TSLA.O) Chief Executive Elon Musk on Sunday tweeted pictures of the first Model 3 sedan to roll off the assembly line. Tesla board member Ira Ehrenpreis was the first to put down a $1,000 deposit on the Model 3 and gifted the car to Musk for his 46th birthday, Musk said in a tweet. (bit.ly/2v3RyDX) Musk has high ...

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U.S: Snap shares fall below $17 IPO price for first time

The front of the New York Stock Exchange (NYSE) with a Snap Inc. logo hung on the front of it stands shortly before the company's IPO in New York, U.S., March 2, 2017.  REUTERS/Lucas Jackson

Snap Inc (SNAP.N) shares slipped below their initial public offering price of $17 for the first time on Monday, signaling waning investor confidence in the social media company’s growth potential as it faces fierce competition. The stock fell as low as $16.95 in late afternoon trading before closing at $16.99 on the New York Stock Exchange, down 1.1 percent. The ...

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