CHINA

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Loans, policy mean tougher times for China banks

The fat years may be ending for Chinese banks as bad loans increase and monetary policy tightens. After government bail-outs and reforms ended a debt crisis early this decade, bad loans could rebound because of exposure to the country's red-hot property market. But a debacle on the scale of the U.S. subprime credit crisis remains very unlikely, officials and analysts say.

Bristol to cut jobs, close plants to save $1.5 bln

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Bristol-Myers Squibb Co, as part of an expected major restructuring, on Wednesday said by 2010 it would cut its work force 10 percent and slash the number of its manufacturing plants by more than half, to generate an additional $1.5 billion in savings. The company is also planning to sell its medical imaging business and reviewing strategic alternatives for its wound healing unit. Sales would bring the company cash to boost its core pharmaceuticals business.
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Singapore's Temasek Eyes Western Bank Stakes

Singapore's Temasek, Asia's pioneer sovereign wealth fund with stakes in Barclays and Standard Chartered, looks to be calling the top of the China stock boom and is scouting for cheaper targets in the West.
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Profitable but pelted, Toyota shares due for rebound

Shares in Toyota Motor Corp have been battered this year, lagging both global auto peers and a weak Japanese stock market, but analysts are near unanimous that the world's most profitable carmaker is due for a bounce.
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Guitar Hero meets Warcraft in Vivendi-Activision deal

French telecom and media group Vivendi said on Sunday it will merge its video games unit with Activision Inc in a $9.85 billion deal that combines the hit Guitar Hero and World of Warcraft franchises under one roof.
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China denies U.S. Navy entry to Hong Kong

Washington said alleged that China turned down the request from U.S. Navy ship to visit Hong Kong on the last minute, blocking the Navy by the Kitty Hawk as well as accompanying U.S. ships away from Hong Kong territory during the Thanksgiving holiday.
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HP Leads PC Makers, Acer Displaces Dell

Hewlett-Packard Co. in the third quarter continued to expand its lead over rivals in the global PC market, while Taiwan based Acer saw the largest increase, displacing Dell as the world's No. 2 notebook maker.
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China lists substandard Wal-Mart, Carrefour goods

China has published a blacklist of substandard toy jugs and children's shoes sold at Wal-Mart stores and drawing pens from French retailer Carrefour in a quality sweep on children's goods sold at Beijing supermarkets.
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Sarkozy vows tough line against rioters

French President Nicolas Sarkozy pledged on Wednesday to punish rioters who shot at police but sought to ease tensions with an independent probe into the deaths of two youths that triggered the unrest.
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Profit combines with pain in Airbus China deals

European planemaker Airbus wore two masks in China on Monday -- the joy of landing what could be its biggest ever aircraft order by volume, contrasted with growing despair over the plunging value of the dollar.
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Google's Chinese foray depends on local know-how

Google Inc's inroads into China relies on it linking up with local partners, navigating draconian regulations and understanding Chinese tastes to make it in one of the world's fastest-growing and lucrative Internet markets.
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Hollywood giants sue Chinese Internet site: report

Five Hollywood studios have sued a Chinese online service and internet cafe they accuse of offering pirated downloads of Pirates of the Caribbean and other hit films, state media reported on Thursday.
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Valuations show China stocks to stabilize

A near 20-percent correction has wiped 5 trillion yuan ($700 billion) off China's booming stock market in less than six weeks, and some global investment banks now hear the sound of a bubble bursting.
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S.Korea sees won's drop as natural: minister

The South Korean won's recent weakening against the U.S. dollar is seen as a natural phenomenon in line with globally-increased risk aversion, Vice Finance Minister Lim Young-rok said on Friday.

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