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New H7N9 bird flu strain in China has pandemic potential: study

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CHICAGO Lab experiments on a new strain of the H7N9 bird flu circulating in China suggest the virus can transmit easily among animals and can cause lethal disease, raising alarm that the virus has the potential to trigger a global human pandemic, researchers reported on Thursday.

Venezuela's deteriorating oil quality riles major refiners

CARACAS/HOUSTON Venezuela's state-run oil firm, PDVSA, is increasingly delivering poor quality crude oil to major refiners in the United States, India and China, causing repeated complaints, canceled orders and demands for discounts, according to internal PDVSA documents and interviews with a dozen oil executives, workers, traders and inspectors.

12:36pm EDT

China says foreign firms welcome benefits from internal Communist Party cells

BEIJING Foreign companies in China have welcomed the ruling Communist Party to set up cells in their firms, a senior official said on Thursday, though some executives have expressed concern about the party's growing role in their operations.

World, Regulatory News, 11:25am EDT

China official says Lincoln would have approved of freeing Tibetan serfs

BEIJING Late U.S. President Abraham Lincoln, who freed the slaves, would have approved of China's policy to end serfdom in Tibet, a senior Chinese official said on Thursday.

Regulatory News, World 11:25am EDT

Saudi needs Aramco billions as recession slows austerity drive

DUBAI Saudi Arabia's plans to sell state assets - including a stake in energy giant Saudi Aramco - are becoming even more important to its finances as a recession slows Riyadh's effort to close a budget deficit caused by low oil prices.

Thursday Morning Briefing

Senate Republicans are poised to approve a measure that would help pass Trump’s tax reforms, a special report lifts the lid on a backroom battle threatening a $230 million cryptocurrency venture and thirty years on from the 1987 stock market crash, cautious traders wonder if it could happen again.

China's central bank warns of 'Minsky moment' as economy powers ahead

BEIJING China's central bank chief on Thursday issued a stark warning about asset bubbles in the world's second-largest economy, which looks set to clock its first acceleration in annual growth since 2010, driven by public spending and record bank lending. | Video

7:06am EDT

China central bank warns against 'Minsky Moment' due to excessive optimism

BEIJING China will fend off risks from excessive optimism that could lead to a "Minsky Moment", central bank governor Zhou Xiaochuan said on Thursday, adding that corporate debt levels are relatively high and household debt is rising too quickly.

7:06am EDT

Sinochem taps banks for Hong Kong IPO of oil assets: sources

BEIJING/HONG KONG China's Sinochem Group has tapped three banks, including Morgan Stanley , to work on the possible Hong Kong listing of its key oil assets, as it seeks to raise capital and revive the company, said four people with knowledge of the matter.

Deals, 6:27am EDT

Factbox: China central bank warns of 'Minsky moment'; what does it mean?

HONG KONG China's central bank governor, Zhou Xiaochuan, warned on Thursday of the risks of a "Minsky moment," citing relatively high corporate debt and saying household lending was rising too quickly.

5:42am EDT