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Defense Says American Charged in Ghosn Pay Case not Involved

The defense for former Nissan executive Greg Kelly said Wednesday there was no evidence or motives linking him to alleged under-reporting of his ex-boss Carlos Ghosn's compensation.

Kelly's chief defense lawyer, Yoichi Kitamura, said in wrapping up the defense's arguments that Kelly is innocent and he had no knowledge of the complex calculations over Ghosn's unpaid remuneration, tabulated and updated by Nissan Motor Co. secretariat official Toshiaki Ohnuma.

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Solid Earnings Drive U.S. Stocks Further into Record Heights

Stocks are opening higher on Wall Street as company earnings reports get into high gear, pushing major indexes further into record heights. The S&P 500 was up 0.4% in the early going Tuesday. Big technology companies were doing much of the heavy lifting, and that helped send the Nasdaq up 0.6%. The Dow Jones Industrial Average climbed 0.2%. UPS jumped 7.7% in the early going after the package delivery service reported results that easily beat analysts' forecasts. Microsoft and Google's parent company will report their own results after the closing bell. European markets were higher and Asian markets closed mixed.

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Samsung's Lee Fined over Illegally using Propofol

Samsung's de facto chief Lee Jae-yong was fined 70 million won (about $60,000) on Tuesday for illegally using the anesthetic drug propofol, about two months after he was released on parole over a separate corruption case.

The Seoul Central District Court said it convicted Lee, vice chairman of Samsung Electronics, of violating a law on drug controls. It said Lee was also ordered to forfeit about 10 million won ($8,570).

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Higher Shipping Rates Help UPS as Q3 Results Top Street

UPS' third-quarter results beat analysts' expectations, as consumers are paying higher rates to have the package delivery company fulfill their shipping needs.

Shares rose 5% before the market open on Tuesday.

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Possible Cyberattack Hits Gas Stations across Iran

Gas stations across Iran on Tuesday suffered through a widespread outage of a government system managing fuel subsidies, stopping sales in an incident that one semiofficial news agency briefly referred to as a cyberattack.

An Iranian state television account online shared images of long lines of cars waiting to fill up in Tehran. An Associated Press journalist also saw lines of cars at a Tehran gas station, with the pumps off and the station closed.

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EU Ministers Debate How to Tackle Rising Energy Costs

European Union ministers met Tuesday for emergency talks focusing on energy amid deep divergences between the 27 member countries on how to tackle a crunch that has seen consumers' bills skyrocket this year.

The wave of price hikes is not set to abate before next spring, and ministers discussed a set of short-term measures that have been put forward by the European Commission to help consumers and businesses weather the shock.

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Australia Invests in $1.6 Billion South Pacific Telco Deal

Australian telco Telstra has partnered with the Australian government in a $1.6 billion deal to buy the South Pacific operations of Digicel in a deal that would prevent a key part of the region's telecommunications infrastructure falling into Chinese hands.

Telstra, the nation's largest telco, said in a statement on Monday it would contribute $270 million to the deal and hold 100% of the equity in Digicel Pacific.

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Toyota Testing Hydrogen Combustion Engines in Race Cars

Toyota said Monday it is testing hydrogen combustion engines in race cars as it works toward using the technology in commercial products.

Such engines burn hydrogen as fuel instead of gasoline, much like rockets. The Japanese automaker said testing the technology in race cars will allow it to collect data and try to fix problems on-site.

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Beleaguered Haiti Capital Brought to Brink by Fuel Shortages

Haiti's capital has been brought to the brink of exhaustion by fuel shortages, after staggering along despite an earthquake, the assassination of the president, gang violence and mass kidnappings.

More than two weeks of fuel deliveries interrupted by gang blockades and abductions of fuel truck drivers have driven residents of Port-au-Prince to a desperate search for gasoline and diesel. The fuels are widely used to run generators needed to compensate for the country's unreliable electrical system.

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Nigeria to Launch eNaira Digital Currency

Nigeria's President Muhammadu Buhari will officially launch the country's eNaira digital currency on Monday, the central bank said, a first in Africa.

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