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Pound at Two-Month Low on British EU Exit Fears

The pound dropped to a two-month low and the yen rallied Monday as jittery investors shifted into safer assets on worries about Britain's possible exit from the European Union.

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Oil Prices Retreat with Global Markets as More Rigs Restart

Oil prices slipped again Monday, extending last week's losses and mirroring a sell-off across Asian markets fueled by worries about the global economy, Britain's future in the EU and producers bringing more rigs back online.

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Report: Kuwait Orders Probe into U.S. Dow Chemical Deal

Kuwait has asked the public prosecutor to open an investigation into a scrapped deal with U.S. firm Dow Chemical that resulted in a $2.2 billion fine, a newspaper reported Sunday.

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Mexico to Team Up with Firms for Deep Water Oil

In a historic first, Mexico's struggling state-run Pemex energy company will team up with private firms for a deep-water oil project, officials said Friday.

Pemex will "farm out" the $11 billion Trion field in the Gulf of Mexico, which has potentially 480 million barrels of light crude, said company director general Jose Antonio Gonzalez Anaya.

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Ukraine Says Russian Gas Too Pricey, Sticks with EU

Ukraine said Friday it would not purchase natural gas from Russia at the price offered by Moscow and would instead tap European markets as it continues its shift toward the West.

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Berlin Says Brexit would Shut UK Out of Single Market

German Finance Minister Wolfgang Schaeuble warned Friday that if Britain voted to leave the European Union, it wouldn't have access to the single market like non-members Norway and Switzerland do.

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Turkey Economy Grows 4.8% in First Quarter

Turkey's economy grew a robust 4.8 percent in the first quarter of this year, continuing its resilient performance from 2015, the statistics office said on Friday.

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Tight-lipped Saudi Opens Up to Push Economic Plan

Pushed by international advisers and concerned about its image, conservative Saudi Arabia is engaged in an unusual display of openness to promote a wide-ranging economic transformation plan.

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U.S. Lawmakers Pass Puerto Rico Debt Bill

The U.S. House of Representatives has passed a bipartisan bill that is to allow Puerto Rico to restructure its $70 billion debt and avoid a massive default next month.

Locked in recession for more than a decade and increasingly unable to service its debt, Puerto Rico is blocked by U.S. law from getting formal bankruptcy protection, which would allow a court to force creditors to write off large amounts of its debt.

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Tesco Supermarket Says to Exit Turkey

Britain's biggest retailer, supermarket group Tesco, said Friday it was selling its Turkish business as its international arm focuses on its operations in Central Europe and Southeast Asia.

Tesco, which is slowly turning around its performance after a record annual loss in 2014/15, said in a statement it was offloading also its mainly British restaurant chain, Giraffe, after only three years.

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