Sotheby's CEO to Step Down

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Sotheby’s CEO William F. Ruprecht is leaving, months after hedge-fund activist Dan Loeb and several others joined the auction house’s board.

Abercrombie to Open Mexico Stores

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Teen retailer Abercrombie & Fitch said it has signed a franchise agreement, the first in the company’s history, with Grupo AXO to bring its namesake and Hollister brands to the Mexican market.

VW to Invest $107.3 Billion

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Volkswagen said it would boost capital investment to $107.3 billion over the next five years, raising concern that fixed costs are spinning out of control.

Carnival, Fincantieri Explore Possible Chinese Shipbuilding Venture

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Carnival and Italian cruise ship-building company Fincantieri are exploring the possibility of a joint venture in China to support the growth of the industry in that market.

Greek Port Gets Shipshape With China's Help

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China Overseas Shipping Group’s investment in the port of Piraeus outside of Athens ranks as one of the most successful Greek privatizations in recent decades.

Takata Knew About Air-Bag Woes

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The quality chief of the Japanese auto-parts supplier at the center of a massive auto recall said it first learned of air bag problems in May 2005 but didn’t start its investigation or warn car makers until two years later.

Wynn Resorts Probed on Money-Laundering Controls

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Federal authorities are investigating whether casino operator Wynn Resorts violated money-laundering laws, according to people familiar with the matter.

Enel Sells Endesa Stake

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Italy’s Enel has raised $3.91 billion from the sale of a large stake in its Spanish power utility Endesa to institutional and retail investors.

Soros Puts His Money on Gross

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George Soros’s investment firm is placing $500 million with Bill Gross, a stamp of approval for his new venture at Janus Capital.

Lenders Shift to Help Struggling Student Borrowers

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Thousands of people struggling to pay back student debt are in line to get a break as two big lenders roll out programs to ease loan terms.

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