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(MENAFN - AFP) Volkswagen's US sales plunged 25 percent in November after it suspended sales of diesel vehicles in the wake of an emissions cheating scandal, the embattled German automaker said Tuesday.

VW froze sales of diesel car models in the United States on November 4 after new accusations on the use of software that cheats on emissions tests.

Total sales fell ...

(MENAFN - AFP) The outcome of this week's OPEC meeting remains to be decided, Saudi Arabia's oil minister said Tuesday amid widespread expectations that the cartel will keep production levels unchanged.

"We have a meeting on Friday. We will discuss all these issues and then decide... We will listen and then decide," Ali al-Naimi told reporters as he arrived in Vienna before ...

(MENAFN - AFP) China's President Xi Jinping arrived in Zimbabwe on Tuesday on a rare visit by a world leader to a country shunned by Western powers over President Robert Mugabe's widely-criticised record on human rights.

Xi was greeted at the airport by Mugabe, 91, who has ruled since independence in 1980, as hundreds of children waved miniature Chinese and Zimbabwean flags ...

(MENAFN - AFP) The eurozone's bailout fund rescued Greece's largest bank on Tuesday, launching a recapitalisation process that is a crucial part of the country's third loan programme in five years.

The European Stability Mechanism unlocked 2.72 billion euros ($2.88 billion), to shore up Piraeus Bank, Greece's biggest lender, a statement said.

"Strengthening the stability ...

(MENAFN - AFP) German power giant RWE, hit hard by government plans to phase out nuclear power and fossil fuels, announced plans Tuesday to spin off its renewables, grids and retail operations and take the unit public.

Bigger rival E.ON is similarly splitting its conventional and renewable energies operations into separate entities.

The aim was to "create a platform ...

(MENAFN - AFP) Brazil's economy contracted a greater than expected 1.7 percent in the third quarter, deepening the recession in the world's seventh largest economy, officials figures showed Tuesday.

The bad news comes amid a paralyzing political crisis that has delayed action on measures needed to stabilize the economy.

Experts surveyed by the business daily Valor were ...

(MENAFN - AFP) Eurozone unemployment slipped to its lowest level for nearly four years in October, official data showed on Tuesday, beating analysts' expectations and confirming a slow recovery in Europe's job market.

The European Union's Eurostat agency said unemployment in the 19-country single currency bloc fell to 10.7 percent in October from 10.8 percent in September, ...

(MENAFN - AFP) German unemployment fell to new lows in November as the recovery in Europe's biggest economy remains on track and no fallout is yet evident from the migrant crisis, data showed on Tuesday.

The jobless rate is now at the lowest level since west and east Germany reunited in 1990 after the fall of the Berlin Wall the previous year, the Federal Labour Office said ...

(MENAFN - AFP) Britain's top seven lenders have passed the Bank of England's stress tests, the central bank said Tuesday in its latest health check on the sector.

The BoE's Prudential Regulation Authority (PRA) watchdog concluded that the sector has adequate capital to survive a "severe" shock.

The PRA tested the impact of a sharp slowdown in Chinese economic growth, ...

(MENAFN - AFP) Chinese investors China Media Capital (CMC) and CITIC Capital have bought a 13 percent stake in the parent company of Manchester City Football Club for $400 million (377 million euros), the companies said.

"We and our consortium partner CITIC Capital also see this investment as a prime opportunity for furthering the contribution of China to the global football ...

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