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Rio Tinto in China deal

Mining giant Rio Tinto has agreed a tie-up with Chinalco to explore for mineral deposits in China. The deal gives the Chinese state-owned firm a 51% stake in the joint venture, with Rio taking a 49% stake. This is the second deal between…

US retail sales jump 6% in November

A strong start to the holiday shopping season signals increasing consumer confidence and raises hopes that the economic recovery is gaining steam. Lured by steep discounts, shoppers stormed the nation's retailers in November — but to keep…