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Morgan Stanley nearing CICC sale to KKR, TPG-WSJ

Morgan Stanley (MS.N) is nearing a deal to sell its stake in China International Capital Corp to Kohlberg Kravis Roberts & Co [KKR.UL] and TPG Capital [TPG.UL] for more than $1 billion, The Wall Street Journal reported, citing sources familiar with the situation.

World crude steel output rises 25.5% in Jan

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World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 109 million metric tons (mmt) in January. This is 25.5% higher than January 2009.China's crude steel production for January 2010 was 48.7 mmt, an increase of 18.2% on January 2009. Japan produced 8.7 mmt of crude steel in January 2010, up 36.8% compared to the same month last year. South Korea showed an increase of 32.4% from January 2009, producing 4.5 mmt of crude steel in January 2010.
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China PLA officer urges new Internet control agency

A senior Chinese military officer has called for a new national body to enforce Internet controls, while China faced fresh claims on Monday about the source of hacking attacks that hit search giant Google.
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Chinese schools deny link to Google attack

A prestigious Chinese university and a lesser-known vocational school have denied a report they were the source of recent cyber attacks on Internet giant Google and other U.S. corporations, Xinhua news agency said on Saturday.
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French PM: new Iran measures needed if no progress

French Prime Minister Francois Fillon said world powers would have to take new action against Iran in the next few weeks if Tehran continues to reject Western proposals on its disputed nuclear programme.
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India speeds up $11 bln fighter jets purchase

India will narrow down the number of bidders by mid-2010 for its $11 billion fighter jet tender, a minister said, in a closely watched deal where diplomacy and strategic interests will play a big role.
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VW unit Skoda to produce new model: report

Volkswagen's Czech unit Skoda Auto has plans for a new model, its union's weekly newsletter reported, although details of its pricing and production schedule are still not certain.
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Q+A: How would a commission fix the U.S. budget crunch?

President Barack Obama on Thursday set up a bipartisan commission to tackle stubborn U.S. budget deficits, though many are skeptical Washington has the stomach right now for the tough remedies needed to address spiraling deficits and debt.
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China says Obama hurt ties by meeting Dalai Lama

China accused President Barack Obama of damaging ties by meeting the Dalai Lama and said it was up to Washington to repair relations between the two global powers, while stopping short of threats of retaliation.
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China's ant tribe poses policy challenge for Beijing

They sleep in boxy rooms crammed into dingy low-rises and spend hours commuting to work on crowded buses as part of a trend of poorer white-collar workers being forced to the fringes of China's wealthiest cities.
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Niger's capital calm one day after coup

Markets, banks and schools in Niger's capital opened as usual on Friday, a day after troops ousted President Mamadou Tandja in a military coup, and the only soldiers on the streets were few and lightly armed.
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Dollar jumps, commodities, stocks hit by Fed move

The U.S. dollar rose broadly, commodity prices dropped and stocks fell on Friday after the Federal Reserve stunned markets by lifting an emergency lending rate for the first time since the financial crisis.
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Dollar jumps, commods, stocks hurt by Fed action

The U.S. dollar rose broadly, commodity prices dropped and stocks fell on Friday after the Federal Reserve stunned markets by lifting an emergency lending rate for the first time since the financial crisis.
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Probe traces Google attacks to 2 Chinese schools: report

Recent cyber attacks on Google and other American corporations have been traced to a top Chinese university as well as a school with ties to the Chinese military, the New York Times reported on Thursday, citing people involved in the investigation.
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Daily Forecast - 19/2/2010

The Aussie dollar drifted lower in Asia yesterday pulling back from its opening levels near 90 cents before finding some support around 0.8950.

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