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(MENAFN - AFP) Volkswagen's Chinese joint venture will recall more than 500,000 cars in China due to a defect in the rear axles, state media said Friday.

The German automaker, which has been in China since the 1980s, will recall a total of 581,090 cars, the official Xinhua news agency said, citing a statement from China's General Administration of Quality Supervision, Inspection ...

 
(MENAFN - AFP) Industrial conglomerate General Electric reported higher earnings for the third quarter Friday, with especially strong profit gains coming in its aviation and oil and gas divisions.

GE scored a 10.8 percent increase in third-quarter net income to $3.5 billion, as chief executive Jeff Immelt pointed to "significant" profit margin increases in its industrial ...

17 Oct 2014   Oil market rebounds 
 
(MENAFN - AFP) World oil prices rebounded Friday on bargain-buying, a day after the US benchmark fell below $80 for the first time in more than two years.

However, the overall mood remained clouded by a supply glut in and concerns over demand caused by a slowdown in major European economies and China.

US benchmark West Texas Intermediate for November added $1.29 to ...

 
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17 Oct 2014   European stock markets rally 
 
(MENAFN - AFP) European stock markets surged on Friday as investors snapped up bargains, ending a roller-coaster week marked by alarm over flagging global growth, a reemergence of eurozone tensions and the Ebola virus spreading.

Having already mounted a robust late recovery on Thursday following sharp losses earlier in the session, indices shot higher heading into the weekend.

The ...

 
(MENAFN - AFP) The world leader in servicing oil industry installations, Schlumberger, surprised the markets with a record performance in the third quarter despite sanctions against oil giant Russia.

And despite a big fall in the price of oil recently, the French-US group said it was confident about the strength of its business and markets although it did not risk making ...

 
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(MENAFN - AFP) Shoemaker to the stars Jimmy Choo stepped out Friday on the London stock market in a float valuing the business at £545.6 million ($877 million, 685 million euros).

Jimmy Choo, whose celebrity fans include Kate Middleton, Michelle Obama, Nicole Kidman and Lady Gaga, began conditional dealings with shares priced at 140 pence on the London Stock Exchange.

The ...

 
(MENAFN - AFP) Western countries scrambled to review safety measures at airports and borders amid a mounting wave of fear that West Africa's Ebola outbreak will spread worldwide.

As US lawmakers grilled officials over how an infected nurse was allowed to board a crowded flight, European officials promised a review of how passengers from Ebola-hit countries are screened.

US ...

 
(MENAFN - AFP) Lawmakers grilled top US health officials Thursday over the nation's fumbling response to the Ebola crisis, as apologetic Texas authorities said they were doing everything possible to prevent further outbreaks.

Health authorities told a congressional hearing that the first person infected with Ebola in the United States, nurse Nina Pham, was being transferred ...

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