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US sues VW over false ‘Clean Diesel’ advertising claims

US sues VW over false 'Clean Diesel' advertising claims

WASHINGTON (AP) — A federal consumer watchdog in the U.S. has sued Volkswagen, charging the company made false claims in commercials promoting its “Clean Diesel” vehicles as environmentally friendly. The German automaker hastily pulled the ads following last year’s admission it had installed illegal software on its diesel vehicles to cheat emissions tests. U.S. regulators say Volkswagen’s engines spewed up ...

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Stocks slip, led by energy and materials companies

Stocks slip, led by energy and materials companies

Falling prices for oil and other commodities pulled U.S. stocks modestly lower on Wednesday, nudging the Standard & Poor’s 500 index slightly into the red for the year and putting it on course to snap a five-week winning streak. Energy and mining companies led the decline, while consumer staples and utilities stocks bucked the broader downward trend. Disappointing earnings from ...

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Stocks drift, US crude up 52 cents in early trade

Stocks drift, US crude up 52 cents in early trade

U.S. stocks drifted between small gains and losses in early trading Monday as investors pored over the latest batch of company deal news. Materials and energy stocks were among the biggest decliners. The market is coming off its fifth straight week of gains. KEEPING SCORE: The Dow Jones industrial average slipped 10 points, or 0.1 percent, to 17,592 as of ...

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US: UN should provide detailed reports on Iran nuke program

US: UN should provide detailed reports on Iran nuke program

VIENNA (AP) — The United States on Wednesday urged the U.N. atomic agency to continue providing details on Iran’s compliance with a deal crimping its nuclear work amid Western concerns that the agency’s newest report is too light on specifics. Until now, such concerns have mostly been voiced privately. U.S. State Department spokesman John Kirby said Tuesday he is “confident ...

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Volkswagen official urges US to consider fallout of fines

Volkswagen official urges US to consider fallout of fines

BERLIN (AP) — The head of Volkswagen’s employee council said Tuesday he hopes that American authorities will consider the potential fallout on jobs in the U.S. and beyond as they mull what fines to impose on the company over its emissions-rigging scandal. The cost to Volkswagen of the scandal that erupted in September remains unclear. In January, the Justice Department ...

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Number of US rigs down to 502; Texas down 5

u.s. drilling rig count

HOUSTON (AP) – Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 12 this week to 502. The Houston company said Friday that 400 rigs sought oil and 102 explored for natural gas amid depressed energy prices. A year ago, 1,267 rigs were active. Among major oil- ...

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Crude oil prices drop more than 1 percent as weak outlook prevails

SINGAPORE (Reuters) – Crude oil futures fell around half a dollar early on Wednesday as the market remained under pressure from slowing demand and high supplies, while forecasts that a cold snap in Europe and the United States would be short-lived also hurt prices. Crude prices have plunged by two-thirds since mid-2014 as soaring output from the Organization of the ...

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U.S. traffic is growing at fastest rate since 1997: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Traffic on U.S. roads is growing at the fastest rate in almost two decades, as cheap gasoline, coupled with a strong economy, encourages motorists to use their cars more. U.S. motorists drove 3.12 trillion miles in the 12 months ending in September 2015, an increase ...

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Warm weather worsens glut of US gas, heating oil: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Unusually mild weather across the United States this autumn has sharply reduced heating demand and contributed to the substantial oversupply of both natural gas and heating oil. Heating demand has been 27 percent lower than the long-term average so far this heating season according to ...

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