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Mixed messages

LI KEQIANG, China’s prime minister, made a big promise to the world’s leading businessmen at the World Economic Forum’s annual gathering in Davos in January 2015. It was that China would introduce a new legal regime for foreign investment that would “treat Chinese and foreign companies as equals”. Its government has duly unveiled a set of revisions to its foreign-investment laws that come into force on October 1st. The standing committee of the National People’s Congress adopted the laws earlier this month and bureaucrats have drafted detailed rules.

The revisions, and the extent to which they fulfil Mr Li’s grand pledge, are an important indicator of how serious the government is about pursuing other initiatives to liberalise rules on foreign investment. China is currently negotiating a bilateral investment treaty (BIT) with the United States. American businesses hope it will lead to greater market access. A BIT with Europe is scheduled to follow.

How, then, do the changes measure up? On the face of it, they involve a welcome shift away from the current regime, which obliges foreign firms to win numerous approvals and is both...Continue reading

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Deutsche Post DHL acquires UK Mail

Deutsche Post DHL has reached an agreement to buy UK Mail for approximately 242.7 million pounds, or 281.6 million euros. With the acquisition, DHL will further strengthen its position in the European postal market, while putting more pressure on competitor Royal Mail in the United Kingdom. As the Guardian puts Continue reading

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Peugeot targets 150,000 vehicle sales in Iran in second half

PARIS (Reuters) - PSA Peugeot Citroen said it plans to sell more than 150,000 Peugeot vehicles in Iran in the second half of this year as the French carmaker seeks to reclaim the leading position it once enjoyed in the country.

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Peugeot targets 150,000 vehicle sales in Iran in second half

PARIS (Reuters) - PSA Peugeot Citroen said it plans to sell more than 150,000 Peugeot vehicles in Iran in the second half of this year as the French carmaker seeks to reclaim the leading position it once enjoyed in the country.

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UBS CEO says clients remained risk averse in third-quarter

ZURICH (Reuters) - UBS Chief Executive Sergio Ermotti said on Thursday political uncertainty and concerns over global growth meant clients remained cautious about the market in the third quarter.

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UBS CEO says clients remained risk averse in third-quarter

ZURICH (Reuters) - UBS Chief Executive Sergio Ermotti said on Thursday political uncertainty and concerns over global growth meant clients remained cautious about the market in the third quarter.

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Senior German lawmaker says no more aid for ailing banks

BERLIN (Reuters) - Germany will not grant any more state aid for ailing banks, a senior lawmaker in Chancellor Angela Merkel's conservative bloc said on Thursday, a day after the government denied it was working on a rescue plan for Deutsche Bank, its ...

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Novo Nordisk to ax 1,000 jobs in cost-cutting drive

COPENHAGEN (Reuters) - The world's largest insulin maker, Novo Nordisk, is cutting 1,000 jobs as a part of a plan to reduce costs as it faces a challenging environment in 2017, especially in the large U.S. market, the company said on Thursday.

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