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Magna International Inc., Canada's largest auto-parts maker, is planning a significant investment in lithium-ion battery production, marking a significant shift towards electric vehicles. The company plans to spend up to $600 million (U.S.) on two new plants, one in the U.S. and one in Europe, to
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The TV broadcast industry is undergoing a significant shift, with cable networks increasingly gaining ground against traditional broadcast networks. Richard Greenfield, Co-Head of Fundamental Equity Research at BTIG LLC, explains that this shift is driven by the improvement in content quality on cable networks, making them more attractive to viewers
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As the ash cloud from the Icelandic volcano continued to ground thousands of flights, Virgin Atlantic's Richard Branson spoke out against the excessive flight restrictions, calling them "completely excessive" and "beyond a joke." Branson believes that the airline industry, rather than the Volcanic Ash
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The Environmental Protection Agency (EPA) has completed a rule requiring large power plants, factories, and oil refineries to reduce carbon dioxide and other greenhouse gas emissions. The rule aims to limit emissions that can boost allergens, worsen smog, and trigger asthma attacks. The EPA estimates that the rule will cover
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Technology stocks experienced a significant boost Wednesday, with Sybase Inc. shares rising nearly 50% after reports emerged of a potential merger with SAP AG. Meanwhile, IBM Corp. issued a long-term outlook, pledging to double its earnings to at least $20 a share by 2015. Other notable gains were seen in
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Nouriel Roubini, Professor of Economics at New York University, has painted a grim picture of the Eurozone's future, predicting that some members may be forced to exit the monetary union due to sovereign risk. This development could lead to a significant weakening of the euro, making it less
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The West End hit play Enron has opened on Broadway, coinciding with US government hearings into the financial giant Goldman Sachs. The production, written by Lucy Prebble, features a star-studded cast including Woody Allen, Guy Pearce, and Alec Baldwin. Despite its British success, the play has received mixed reviews from
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A Conservative government would aim to revisit and rework massive defence contracts, estimated to be worth tens of billions of pounds, in a bid to secure better value for money. This move, announced by shadow defence secretary Liam Fox, risks sparking controversy and potentially derailing already-committed projects. The development is
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Bloomberg TV's Betty Liu sat down with Tom Brown, CEO of Second Curve Capital, to discuss Citigroup's strong earnings results and the ongoing Goldman Sachs scandal. Brown highlighted the importance of credit trends in the financial industry, attributing Citigroup's improvement to the natural end
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As oil prices hover above $80 a barrel and natural gas continues to struggle, the energy merger and acquisition (M&A) market is experiencing a significant surge in activity. Thomas Petrie, vice chairman at Bank of America Merrill Lynch, shares his expert insights on the current market trends and
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Microsoft's Kin phone, designed in partnership with Verizon and Sharp, represents a significant departure from the company's typical approach to mobile phone development. By heavily investing in the design and development of the hardware, Microsoft aims to create a unique user experience that deeply integrates social
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Air travel demand is on the rise, pushing airlines to increase fares by 13% for the peak summer season. Delta Air Lines, American Airlines, and other US carriers are benefiting from the surge in bookings, which is expected to continue after the recession-driven travel slump that saw over 500 jets
