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Business

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    MILFORD, Mich. – General Motors CEO Mary Barra told investors Wednesday that GM plans a raft of new models and a big push to sell more cars in China to drive profits in coming years, as the biggest U.S.
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    General Mills plans to cut about 700 to 800 jobs, the second time it has trimmed its workforce in a month as the food company adjusts to a shift by U.S. consumers away from boxed and frozen meals.
  • Stocks skid on Ebola, Europe reports
    NEW YORK – It was a rough start to October for financial markets.Disappointing economic news in the U.S. and abroad drove down stocks Wednesday.
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Briefs

CME breaking ground on site

CME Corp., a design and construction services company at 7235 Vicksburg Pike, will host a groundbreaking ceremony Tuesday morning at 9:30.

The event will showcase the future site of a 60,000-square-foot speculative building at Hatfield Drive in Fort Wayne. The company said it has crafted a state-of-the-art industrial facility with hopes of luring a business looking for incentives to locate in Fort Wayne.

CME officials said they are targeting advanced manufacturing, defense, security, medical device, and food processing markets.

China auto sales up amid cash crunch

China’s passenger-vehicle sales rose 9.3 percent in June after dealers increased discounts to clear stock and meet half-year targets amid a cash crunch and concerns the economy is slowing.

Wholesale deliveries of cars, multipurpose and sport utility vehicles climbed to 1.4 million units last month from 1.28 million units a year earlier, according to the state-backed China Association of Automobiles Manufacturers last week. That matched the median in a Bloomberg News survey.

General Motors broke ground on a new Cadillac factory in China last month

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