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China poised to allow Xi to stay in power indefinitely

Proposal to eliminate presidential term limits comes amid consolidation of authorityChina edged closer to a return to one-man rule as the Communist Party prepared constitutional changes that would allow Xi Jinping to serve as president indefinitely.

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Chairman of China's Geely as 9.7% stake in Daimler

BERLIN -- The billionaire chairman of Chinese car maker Zhejiang Geely Holding Group Co. has accumulated a 9.7% stake, valued at about $9 billion, in Germany's Daimler AG, the biggest overseas investment yet by China Inc. in the West's automotive industry.

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Volkswagen earnings buoyed by strong sales

BERLIN -- Volkswagen AG, the world's biggest car maker by sales, said Friday that net income more than doubled last year on the back of strong sales of its major marques and the effect of cost-cutting at its flagship VW brand.

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Xcerra calls off $580 million deal amid scrutiny

Xcerra Corp. has agreed to terminate its sale to a Chinese group, citing difficulty in securing federal approval for the $580 million deal. Norwood, Mass.-based Xcerra, which provides testing technology for semiconductors and electronics, said that "despite our best efforts to secure approval, ...

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Asian stocks overcome choppy moves to advance

Nikkei up slightly, Taiex jumps after weeklong holidayAsia-Pacific stock markets gained after a choppy start Wednesday, following the first down day on Wall Street in seven sessions.

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BP: Oil demand to peak around within 20 years

LONDON--Global demand for crude oil could peak in the next two decades, as renewables like solar power surge faster than expected to meet a greater share of the world's energy needs, BP PLC said Tuesday.

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