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SEOUL, South Korea (AP) — China's Shanghai stock index sank to its lowest level in more than one year today as renewed concerns about the world's second-largest economy led international stock markets lower. Futures point to opening losses on Wall Street. Benchmark U.S. crude oil fell more than a dollar at just over $30 a barrel. The dollar fell against the yen and the euro.
WASHINGTON (AP) — There are three government reports due out today. The Commerce Department releases retail sales data for December and business inventories for November. The Labor Department releases the Producer Price Index for December as well. The Federal Reserve reports on last month's industrial production. And Citigroup and Wells Fargo report quarterly earnings.
WASHINGTON (AP) — A source says a moratorium on new coal leases of federal land is coming today. The Obama administration wants the pause while it completes a comprehensive review of whether the fees charged to mining companies provide a fair return to American taxpayers and reflect coal's impact on the environment. Reserves under current leases can still be mined. There is declining domestic demand for coal.
BEIJING (AP) — Chinese companies continue to be on a buying spree abroad. The latest is Haier Group, the world's biggest home appliance maker, which buying General Electric Co.'s appliance business for $5.4 billion to expand its U.S. and global presence and build itself into a premium brand. GE has been a prominent presence in appliances for a century, but is shifting to higher technology. a0492
MILAN (AP) — Volkswagen, mired in an emission cheating scandal, was left behind as the European carmakers' association reported a 9 percent bump in vehicle sales last year. The association says the region registered 13.7 million car sales in 2015. Volkswagen severely lagged the trend, with the group's market share eroding to 22.5 percent from 25 percent last year
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