Virgin Australia Readies for Qantas Battle

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Virgin Australia, reeling from a record annual loss, sold part of its frequent-flier business as it prepares for the next phase of a brutal battle for customers with Qantas.

Fiat Avoids Chrysler Merger Block

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Fiat said too few shareholders tendered their stock to block a reorganization that will create Fiat Chrysler Automobiles, a new company with a tax residency in the U.K.

Telefónica Eyes Deal by Mid-2015

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Spanish telecommunications company Telefónica said it expects to complete the $9.82 billion acquisition of Vivendi's Brazilian unit, GVT, by mid-2015.

China Weighs Gas Tax to Aid Electric-Car Effort

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China is weighing a new tax on gasoline to fund efforts to make electric cars more palatable to consumers, according to the chairman of electric-car maker BYD.

Tesco Warns on Profit

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Tesco issued its third profit warning in as many years and said it would slash its interim dividend and reduce capital expenditure as the struggling grocery giant battles fierce competition.

S&P Confident Australia Will Fix Fiscal Position

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Standard & Poor's says it is confident Australia's Senate will approve sufficient budget savings to bring about a meaningful repair of the country's fiscal position, which will support its AAA rating.

Hermès Warns on Currency Effects

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French luxury-goods company Hermès International warned that currency shifts will continue to drag on its full-year profit margin, even though it recorded a rise in first-half profit and sales.

Pernod Ricard Confirms Jobs Cuts

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Pernod Ricard confirmed it will cut around 900 jobs globally, having posted a drop in full-year profits as it continues to fight a sharp decline in sales in China.

Google Testing Delivery Drones

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Google's advanced-research lab said it is developing a system of drones to deliver goods. Rival Amazon.com is also testing delivery drones, and Domino's tested delivering pies via drone in 2013.

Wal-Mart Looks Online for Chinese Growth

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As Alibaba courts investors for a highly anticipated IPO next month in the U.S., Wal-Mart is busy trying to win over online shoppers in the Chinese e-commerce company's backyard.

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