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Saturday, June 25, 2016, 6:18 p.m.
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Dow drops 610 as stocks sink globally on exit vote

updated: 06/25/2016 3:16 a.m. Discuss

Stocks plunged in the U.S. and worldwide Friday after Britain voted to leave the European Union. The referendum result stunned investors, who reacted by rushing to the safety of gold and U.S. government bonds as they wondered what's next for Britain, Europe and the global economy.

India out to draw manufacturers

posted: 06/25/2016 1:43 a.m. Discuss

India wants to attract manufacturing investment after its latest market-opening initiatives, the country's finance minister said Friday, despite businesses' concerns about access to land, taxes and other matters.

Business news in brief

posted: 06/25/2016 1:40 a.m. Discuss

U.S. oil, gas rig count down by 3 to 421 HOUSTON -- The number of rigs exploring for oil and natural gas in the U.S. declined by three this week to 421, snapping three weeks of gains after a slide that lasted months and pushed the count to record-low levels amid depressed energy prices.

VW said to pay diesel owners up to $7,000, fund clean-air grants

posted: 06/23/2016 11:02 a.m. Discuss

Volkswagen AG will pay owners of its polluting diesel cars up to $7,000, and agree to fund a grant program to offset air pollution, under a $10 billion settlement being negotiated for submission to a federal judge next week, people familiar with the talks said.

Grievances aired at VW meeting

posted: 06/23/2016 2:10 a.m. Discuss

Volkswagen shareholders had a lot to complain about Wednesday. Management bonuses, sagging profits and an emissions scandal have all caused the company's stock to plunge.

Business news in brief

updated: 06/23/2016 2:06 a.m. Discuss

George's hires ex-Tyson executive Cole George's Inc. a Springdale poultry company, has hired a former Tyson Foods and Keystone Foods executive to fill the position of chief strategy and commercial officer, George's announced Wednesday.

Boeing says 'intent' to purchase accord signed with Iran Air

posted: 06/22/2016 2:14 a.m. Discuss

Boeing Co. said Tuesday that it signed an agreement with Iran Air "expressing the airline's intent" to buy its aircraft, setting up the biggest business deal between the Islamic Republic and the United States since the 1979 U.S. Embassy takeover in Tehran.

Carmaker to cut out risky inflators

posted: 06/22/2016 2:12 a.m. Discuss

By next week, Fiat Chrysler plans to stop producing new vehicles in North America that have the most dangerous type of Takata air-bag inflators.

Wal-Mart invests in China's JD.com

posted: 06/21/2016 5:45 a.m. Discuss

Wal-Mart Stores Inc. intends to sell Yihaodian, its Chinese e-commerce business, as part of its plans to form a "strategic alliance" with online retailer JD.com.

VW's alerting of investors probed

posted: 06/21/2016 2:11 a.m. Discuss

BERLIN -- German prosecutors are investigating former Volkswagen CEO Martin Winterkorn and another unnamed executive over allegations that they didn't inform investors soon enough about the company's scandal over cars rigged to cheat on U.S. diesel emissions tests.

Anheuser wagering on toasts to Mexico

posted: 06/21/2016 2:09 a.m. Discuss

LOS ANGELES -- The first time Michael Price saw a bottle of Estrella Jalisco beer, at a liquor store near his Los Angeles-area home, the 26-year-old immediately texted his friends.

Toyota rolls out its Prius Prime

posted: 06/20/2016 2:10 a.m. Discuss

TOKYO -- A top engineer at Toyota says the Japanese automaker plans to get as bullish as its rivals in pushing plug-in hybrids with the introduction of its new Prius Prime.

Airbnb seeking to sway Japanese

posted: 06/20/2016 2:09 a.m. Discuss

Airbnb Inc. has gone on a charm offensive in Japan, hoping to drum up support as regulators there debate whether to clamp down on the startup's rapidly expanding operations.

Chinese company: Robot-maker to fly solo if buyout OK'd

posted: 06/20/2016 2:07 a.m. Discuss

HONG KONG -- Chinese appliance-maker Midea promised recently that German industrial robot-maker Kuka will remain independent, seeking to allay fears about its takeover bid for the company.

Foreign investors dust off Cuba projects

posted: 06/19/2016 2:03 a.m. Discuss

Twenty years ago a Canadian developer won the right to build golf courses and condominiums across 2½ miles of lush green ridgeline and crescent beaches lapped by the emerald waters of the Florida Straits just 40 miles from Havana.

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