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GM's profit falls on recall costs, victims' compensation fund

DETROIT - General Motors Co reported a lower second-quarter profit on Thursday due to numerous recalls and the expected cost of at least $400 million for its victims' compensation fund for those killed or injured by a defective ignition switch linked to at least 13 deaths.

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China probes food businesses; Hong Kong bans imports in meat safety scare

SHANGHAI - China's food regulator has visited close to 600 restaurants, businesses and food distributors as it investigates a fast-spreading food safety scare that has dragged in a number of global brands and hit food outlets as far away as Japan.

6:42am EDT

Caterpillar posts higher quarterly profit

- Caterpillar Inc on Thursday reported higher-than-expected second-quarter earnings as a rebound in sales to builders offset a continued slump in the mining sector.

7:50am EDT

Euro gets lift from business activity data, China PMI helps emerging stocks

LONDON - The euro pulled off 8-month lows against the dollar on Thursday after the bloc's private sector expanded at its fastest rate in three months in July, and emerging equities hovered near 17-month highs after strong Chinese data.

4:50am EDT

Boeing reaches plane parts deal with Iran

PARIS - U.S. planemaker Boeing has disclosed an agreement with Iran to provide airplane parts, relaxing a three-decade freeze in ties as part of a broader package of sanctions relief.

France defends billion-euro guarantee demand in UBS probe

PARIS - A 1.1 billion euro ($1.48 billion) guarantee payment demanded by French judges of Swiss bank UBS reflects the size of the fine it could pay if found guilty of helping wealthy French customers avoid tax, the French prosecutor's office said on Thursday.

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