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Rosneft, Sinopec Sign 10-Year Oil Payment Deal

The world's biggest listed crude producer Rosneft and Chinese oil giant Sinopec announced on Tuesday a framework agreement on advance payment by Sinopec for Russian oil deliveries.

The deal will see Sinopec -- China's largest oil refiner -- pay 25-30 percent of the total cost of a 10-year contract under which Rosneft will deliver 10 million tonnes of oil per year starting in 2014.

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ANA Undecided after Airbus Unveils Japan Ambitions

All Nippon Airways (ANA) said Tuesday the composition of its fleet was under discussion after plane-maker Airbus announced its intent to scoop up half the Japanese market.

The European manufacturer is riding high after bagging a landmark $9.5 billion order from Japan Airlines (JAL) earlier this month, and wasted no time in setting out its aims in a country that has traditionally been a Boeing stronghold.

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McDonald's 3rd-Quarter Net Income Rises

McDonald's says its third quarter profit rose 5 percent, as the world's biggest hamburger chain benefited from a Monopoly promotion in the U.S. and strength in the UK and Russia.

The company says it earned $1.52 billion, or $1.52 per share, for the quarter ended September 30. That compares with $1.46 billion, or $1.43 per share, last year. Analysts expected $1.51 per share.

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Starbucks Latest Foreign Target for Chinese Media

Starbucks has become the latest foreign firm to be roasted by China's state-run media, following a series of accusations it is overcharging consumers.

State broadcaster CCTV aired a seven-minute-long report criticising the coffee shop chain's pricing in China, arguing that a tall latte in Beijing is more expensive than in London, Chicago and Mumbai.

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New-Look Philips Reports Accelerating Profits

Dutch group Philips, which has transformed itself away from some of its traditional businesses, reported an almost three-fold surge in third-quarter net profit on Monday.

The company also announced that later in the day it would begin to buy back its own shares under a program totaling 1.5 billion euros ($2.0 billion).

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EDF Wins £16-bn Deal to Build Two UK Nuclear Reactors

French energy giant EDF said Monday it had won a deal worth 16 billion pounds (18.9 billion euros) to build two nuclear reactors in Britain.

"This deal means £16 billion of investment coming into the country and the creation of 25,000 jobs," said British Prime Minister David Cameron in a joint EDF-British government press release.

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Housing Protesters Stay Camped Out in Rome

Hundreds of people said Sunday they would stay camped out in central Rome in an unsanctioned protest to call for an end to austerity and evictions and for more affordable housing.

A delegation of protesters was set to meet Transport and Infrastructure Minister Maurizio Lupi on Tuesday to discuss their demands.

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Britain Grabs Slice of Chinese Investment

Britain has assuaged its hunger for economic ties with China after finance minister George Osborne came away from a trip to the Asian powerhouse with a range of investment deals.

From easing visa restrictions to building on recent currency cooperation and winning Beijing money for investment in British nuclear power plants, Chancellor of the Exchequer Osborne can claim to have smoothed relations with the emerging economic power.

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Lew Warns U.S. Shutdown, Debt Showdown 'Can Never Happen Again'

The recent U.S. government shutdown and debt limit showdown bruised the nation's economy and "can never happen again," Treasury Secretary Jack Lew said in an interview that aired Sunday.

"We took an economy that is fighting hard to get good economic growth going, to create jobs for the American people, and took it in the wrong direction," Lew said on NBC's "Meet the Press" program.

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In Greece, Wisdom of Privatizations under Question

The approach of a new budget year in crisis-hit Greece has rekindled talk of more spending cuts, along with a renewed EU-IMF creditor push for a breakthrough in the country's clogged-up privatization program.

But after three years of effort, with paltry results, worries are growing on the wisdom of state asset sales made on the quick and on whether they will ultimately benefit Greeks themselves.

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