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EXCLUSIVE-GM set to storm India as Korea costs climb

BEIJING/ NEW DELHI, May 4- General Motors aims to grab at least 5 percent market share in India within the next decade, as it sees that market overtaking Japan as the world's third biggest with projected annual sales of 8 million vehicles by 2025.. The Detroit carmaker, which is losing money in India even after 18 years there, will unleash a product blitz aimed at...
Source: Reuters | By: Norihiko Shirouzu and Aditi Shah
Japan to increase investment in Asian infrastructure

TOKYO, May 3- Japanese Finance Minister Taro Aso said on Sunday his country's government will increase investment in Asian infrastructure at a meeting of the Asian Development Bank, according to Kyodo News. Aso said he wants to set up a new framework for financial cooperation between the ADB and the Japan International Cooperation Agency, Kyodo reported.
Source: Reuters
Fishermen fear looming cost of at-sea monitors this summer

PORTLAND, Maine- New England fishermen of important food species like cod and haddock say the looming cost of paying for at-sea monitors could put them out of business this year. That means groundfishermen who catch fish like cod, haddock and pollock in New England waters will likely have to start paying the cost around August. Among the challenges facing the...
Source: The Associated Press | By: By PATRICK WHITTLE, Associated Press
China's Fosun offers $1.8 bln for 80 pct of U.S. insurer Ironshore

HONG KONG, May 3- Fosun International Ltd, an investment company controlled by Chinese billionaire Guo Guangchang, said it had offered to buy the 80 percent it does not already own in U.S. insurer Ironshore Inc for $1.8 billion. The move follows Fosun's decision to buy a 20 percent stake in the casualty and property insurer for $464 million in August 2014 in a bid to...
Source: Reuters | By: Denny Thomas
HSBC's HQ rethink: taxes and China relationship hold key to decision

LONDON, May 3- In 1990, an assessment called Project Rainbow paved the way for HSBC to move from Hong Kong to Britain. Project Rainbow assessed HSBC's future base by considering whether it was operationally effective, tax efficient, politically acceptable, consistent with bank regulatory requirements, in the best interests of shareholders and compatible...
Source: Reuters | By: Steve Slater
In Congress, income inequality comes with breakfast, lunch

Some make nothing at all when Congress is in recess. Members of the House and Senate collect their $174,000 annual salaries whether Congress is making laws, taking a break or causing a partial government shutdown. "This is the most important building in the world," said Sontia Bailey, who works the cash register and stocks the shelves at the "Refectory" takeout on the...
Source: The Associated Press | By: By CHARLES BABINGTON and LAURIE KELLMAN, Associated Press
Should Britain stay in the EU? Question hovers in election

LONDON- Ian Robinson, co-owner of a small investment firm in London, is watching Britain's general election this Thursday with unease. A victory for Prime Minister David Cameron's Conservative Party could bring Britain a step closer to leaving the 28- nation European Union, a move many companies fear would cause damage by increasing costs of doing business on...
Source: The Associated Press | By: By DANICA KIRKA, Associated Press
GLOBAL ECONOMY WEEKAHEAD-Payrolls to test second quarter climate for Fed

LONDON, May 3- Always top of the data pile, this week will be no exception for the U.S. jobs report with a first interest rate rise likely this year despite a dramatic slowdown in the first quarter. "They will need better data to justify a rate hike, and that need is pushing the timing of a policy change ever-deeper into 2015," said Tim Duy, a professor at the University of...
Source: Reuters | By: Mike Peacock
Hawaii lawmakers approve Maui hospital privatization bill

The legislation passed Friday clears the way for a possible takeover of Maui Memorial Medical Center by the nonprofit Hawaii Pacific Health or another operator, the Honolulu Star-Advertiser reported. Maui region managers of the state's public hospital network have been discussing a possible takeover with Hawaii Pacific Health for about six months.
Source: The Associated Press
Investors unfriend social stocks-should you?

After huge moves to the downside this week in Twitter, LinkedIn, and Yelp, traders debate whether it's time to pack it in on the social names.
Source: CNBC.com | By: Michael Newberg