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Europe subdued, Russia shares tumble on new sanctions

LONDON - The euro was stuck near its lowest level since November and Russian shares tumbled for a third straight day on Monday as new European sanctions for Moscow chilled the already frosty relationship between the two.

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Drought hits China food production: Xinhua

BEIJING - Severe drought and scorching heat has damaged over a million hectares of farmland in China's Henan and Inner Mongolia provinces, with no immediate relief in sight, state news agency Xinhua reported.

4:29am EDT

Nissan expects Takata to pay all costs related to air bag recall: executive

TOKYO - Nissan Motor Co Ltd expects Takata Corp to pay back to the automaker all costs related to the recent air bag recall, Corporate Vice President Joji Tagawa said.

5:38am EDT

GM Korea reaches tentative wage deal, averting strike

SEOUL - General Motors' South Korean unit reached a tentative wage deal with its labor union on Monday, averting a potential strike at one of its key Asian production bases.

6:00am EDT

Amazon to open five new warehouses in India

MUMBAI - Amazon.com Inc's Indian unit will open five new warehouses in the country, which will almost double its storage capacity to half a million square feet, the company said in a statement on Monday.

5:35am EDT

Commerzbank deepens job cuts in toughened savings plan: sources

FRANKFURT - Commerzbank, Germany's second-biggest bank, is widening the scope of its savings program and plans to shed more than 450 jobs on top of an ongoing restructuring plan, three people familiar with the matter said.

5:30am EDT

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Millennials: forever renters or just delayed homeowners?

The White House wants to help you move out of your parents’ basement. That was the message from Jason Furman, the chairman of the White House’s Council of Economic Advisers, at the Zillow Housing Forum in Washington yesterday.