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Toyota predicts 80 per cent fall in profit

Faced with limited output and weak demand, Toyota is eyeing a colossal $13.95bn hit from a fall in global vehicle sales in 2020

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Saudi Arabia wants to ‘eliminate’ US shale industry, says Putin

Oil price dips on OPEC+ meeting delay, following Saudi-Russian spat

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Saudi and UAE businesses hit by Covid-19 cash crunch

Saudi and UAE contracting businesses are suffering from the Covid pandemic in spite of government intervention

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Blackstone in talks to take property developer SOHO China private in $4bn deal

US private equity firm Blackstone is said to be in exclusive talks to take prime office developer SOHO China private in a $4bn deal, making it one of the biggest bets yet on the Chinese market.

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Rolls-Royce reports £852m operating loss

Issues and costs over the durability of its Trent 1000 engine has seen Rolls-Royce post an £852m operating loss.

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Italian energy group Eni promises to reduce greenhouse gas emissions by 80 per cent

Italian energy group Eni has promised to reduce its greenhouse gas emissions by 80 per cent.

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Airline group IAG says coronavirus will hit earnings as worldwide travel plummets

BA owner IAG is the latest airline to warn travel restrictions resulting from the coronavirus will impact earnings.

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Falling revenues steer Aston Martin to a £104m loss

Prestige car maker Aston Martin made a £104.3m pre-tax loss in 2019 as revenues fell 9 per cent.

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Virgin Money to cut 500 jobs as it joins the growing list of UK banks battling with challenging trading conditions

Virgin Money is to cut 500 jobs as it continues to integrate with Clydesdale and Yorkshire Banking Group.

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Eurozone optimism reaches nine-month high, but coronavirus may sour confidence

Confidence in the euro zone hit a nine-month high this month, but the European Commission’s survey does not include the most recent spread of the coronavirus that may hurt the services sector.

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Rio Tinto to spend $1 billion to turn carbon-neutral by 2050

World number two miner Rio Tinto said it would spend USD1 bn to become carbon-neutral by 2050, after reporting a 41-per cent drop in 2019 earnings.

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EU chief negotiator talks up chances of 'mini deal' with US over trade tariffs

EU trade negotiator hopes Washington’s decision to suspend a planned tariff increase on Airbus for 30 days offers a window of opportunity for a trade deal

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London companies doubled venture capital funding to record high in 2019

London based companies raised a record amount of venture capital in 2019, beating out rivals Paris and Berlin, according to media reports that cited data from Refinitiv London

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Amazon expands Amazon Go to target residential shoppers

Amazon Go opens new, bigger store in Seattle and aims to capture a percentage of the weekly grocery shop

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