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Tribunal seals end of failed Volkswagen-Suzuki partnership

BERLIN- Volkswagen AG and Suzuki Motor Corp. say an arbitration tribunal has formally put an end to a failed alliance between the two companies to develop green cars, and Suzuki will buy back the 19.9 percent stake that Volkswagen held. The hybrid and electric car partnership agreed in 2009 never got off the ground and unraveled into a public feud.
Source: The Associated Press
French PM booed by young Socialists as party split over pro-business policy

LA ROCHELLE, France, Aug 30- Young Socialist Party members booed the French prime minister at a party dinner on Saturday, calling for the resignation of his economy minister, whom they accuse of favouring business over Socialist ideals, participants said on Sunday. "They shouted' Macron resign'," party member Marise Faye said of a group of youths at the Socialist...
Source: Reuters
India's Modi accepts defeat on contentious land bill

Indian Prime Minister Narendra Modi will let an executive order making it easier for businesses to buy land lapse on Monday after failing to win support from opposition parties in a major blow to his economic reform agenda.
Source: Reuters
Alnylam, Medicines cholesterol drug lasts months after one shot

Results with Alnylam Pharmaceuticals and Medicines Co's experimental product ALN-PCSsc highlight the competition for a market tipped to generate billions of dollars in sales. Amgen's Repatha and a rival product, Praluent, from Sanofi and Regeneron Pharmaceuticals, are each expected to generate more than $2 billion a year in sales by 2020, according to...
Source: Reuters | By: Ben Hirschler
Buffett's Berkshire builds $4.5B stake in Phillips 66

Warren Buffett's Berkshire Hathaway disclosed a $4.48 billion stake in oil refiner Phillips 66, rebuilding a bet it had made in the energy industry before oil prices fell.
Source: Reuters
Fire at Saudi oil company residential complex kills 1

DUBAI, United Arab Emirates- Saudi civil defense authorities say one person has been killed and 30 were wounded when a fire broke out at a residential complex used by the state oil giant Saudi Aramco. The Interior Ministry's General Directorate of Civil Defense said the casualties involved victims of various nationalities, without elaborating.
Source: The Associated Press
Fire at Saudi oil company residential complex kills 2

DUBAI, United Arab Emirates- A large fire broke out Sunday in the basement of a sprawling residential complex in Saudi Arabia's oil-rich east, killing at least two people and wounding 70, civil defense officials in the kingdom said. The Interior Ministry's General Directorate of Civil Defense said the casualties involved victims of various nationalities,...
Source: CNBC.com
Brazil's Rousseff drops plan to restore unpopular tax -media

BRASILIA, Aug 30- President Dilma Rousseff has dropped the idea of reinstating a tax on financial transactions to bridge a gaping fiscal deficit after it ran into a barrage of criticism even from within her coalition, Brazilian media reported on Sunday. The Folha de S.Paulo and Estado de S.Paulo newspapers, citing presidential aides, said Rousseff abandoned...
Source: Reuters
BoE: Stance on rates unchanged by China woes

Bank of England Governor Mark Carney said on Saturday that a slowdown in China's economy could push down further on inflation but it did not change, for now, the central bank's position on when and how it might increase interest rates.
Source: Reuters
China growing at 'reasonable' pace despite risks: Premier Li

China's economy is growing at a "reasonable" pace and, despite growing pressure, the government can handle well the risks the country faces, Premier Li Keqiang said.
Source: Reuters