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Volkswagen says China car sales, production hit by chip supply shortage By Reuters

BEIJING (Reuters) - German automaker Volkswagen (DE:VOWG_p) AG lost sales of tens of thousands of cars in China as a global chip supply shortage impacted its production in December, the head of its China operations, Stephan Wollenstein, said on Wednesday. Volkswagen is the biggest foreign automaker in China, the world's biggest car market. Global automakers including Ford Motor (NYSE:F) Co, Toyota...

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BBC must make tough decisions on spending – watchdog By Reuters

LONDON (Reuters) - Britain's BBC needs to make tough decisions to ensure its future as viewers spend less time with the broadcaster and the number of households paying the licence fee declines, the National Audit Office (NAO) said on Wednesday. Since it was founded nearly a century ago, the BBC has dominated Britain's media landscape, with its television, radio and online services...

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Biden’s Big Day, Morgan Stanley, More Earnings: 3 Things to Watch By Investing.com

By Christiana Sciaudone Investing.com --  Americans are counting down the hours, some thrilled and others devastated, as President-elect Joe Biden prepares to take the helm as the leader of the free world (or what once was). Markets were optimistic that the outlook is positive, driving shares of tech and energy stocks higher. Oh, and, of course, yet more stimulus talk.  Case in point:...

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MGM Resorts drops takeover plan for Ladbrokes-owner Entain By Reuters

By Tanishaa Nadkar (Reuters) - Casino operator MGM Resorts International on Tuesday ditched plans to buy Ladbrokes (LON:LCL) owner Entain after the British company rejected an $11 billion takeover approach this month, sending Entain's shares down nearly 12%. The United States is seen as the next big growth market for sports betting, spawning a series of transatlantic partnerships tapping in...

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Dow Ends Higher on Boost From Energy, Tech By Investing.com

By Yasin Ebrahim Investing.com – The Dow closed higher Tuesday, led by gains in energy and technology  and growing optimism that more stimulus is about to hit bank accounts under President-elect Joe Biden's administration. The Dow Jones Industrial Average rose 0.38%, or 116 points. The S&P 500 was up 0.80%, and the Nasdaq Composite gained 1.53%.   Former Federal Chairwoman Janet Yellen in...

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‘Act big’ now to save economy, worry about debt later, Yellen says in Treasury testimony By Reuters

By David Lawder and Andrea Shalal WASHINGTON (Reuters) - Janet Yellen, U.S. President-elect Joe Biden's nominee for Treasury Secretary, urged lawmakers on Tuesday to "act big" on coronavirus relief spending, arguing that the economic benefits far outweigh the risks of a higher debt burden. In more than three hours of confirmation hearing testimony,...

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JB Hunt Earnings, Revenue Beat in Q4 By Investing.com

By Yasin Ebrahim JB Hunt (NASDAQ:JBHT) reported on Tuesday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations. JB Hunt shares gained 1.7% in after-hours trade following the report. JB Hunt announced earnings per share of $1.44 on revenue of $2.74 billion. Analysts polled by Investing.com anticipated EPS of $1.3 on revenue of $2.56 billion. The beat on the...

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BHP raises full-year iron ore output forecast By Reuters

(Reuters) - BHP Group Ltd on Wednesday upgraded its full-year iron ore production outlook on sustained China demand and restart of Samarco operations. The world's biggest listed miner said it expects to produce 245 million tonnes to 255 million tonnes of iron ore in fiscal 2021, up from its previous forecast of 244 million tonnes to 253 million tonnes. ...

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Netflix beats estimates for paid subscriber additions By Reuters

(Reuters) - Netflix Inc (NASDAQ:NFLX) beat Wall Street estimates for holiday quarter paid subscriber additions on Tuesday, as its originals like "Bridgerton" and "The Queen's Gambit" helped attract more viewers sheltering at home due to fresh COVID-19 restrictions. The company said it added 8.51 million paid subscribers during the fourth quarter ended Dec....

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One in five UK small businesses have halted EU exports, accountants say By Reuters

LONDON (Reuters) - About a fifth of small and medium-sized British businesses that export to the European Union have temporarily halted overseas sales due to the complexity of new customs rules, a firm of accountants said on Tuesday. Since the end of a post-Brexit transition period on Dec. 31, British businesses selling goods to customers in the EU have had to fill...

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