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Blackstone up 13 percent in NYSE debut

Blackstone Group LP (NYSE: BX) units rose 13 percent in their first day of trading on Friday, as the first major U.S. private-equity firm went public and minted billions of dollars of new wealth for its founders.

Blackstone raises $4.1 billion

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Blackstone Group LP priced its initial public offering at the top end of the range on Thursday, even as lawmakers pushed for its delay, raising $4.13 billion in the largest U.S. IPO since 2002.

China province head apologizes in slave labor storm

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The governor of the Chinese province shaken by a slave labor scandal publicly apologized on Friday, as officials described farmers, children and mentally impaired people snatched into a grim rural underworld.
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Ten years on, impact of Asian crisis lingers

From depressed investment to bulging foreign exchange reserves, Asia's economies are still deeply marked by the legacy of the financial crisis that engulfed the region a decade ago.
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Google wins Internet content license in China

Google Inc. has won preliminary approval from Beijing to provide Internet content in China, the firm said on Wednesday, potentially allowing it to offer news in the world's second-largest Internet market.
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Cadbury to cut jobs as drinks sale nears

Cadbury Schweppes Plc, the world's largest confectionery group, plans to cut 7,500 jobs and close around ten plants as it seeks to catch up with the profitability of U.S. rivals after the sale of its drinks arm.
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China Mobile eyes biggest ever Shanghai listing

China Mobile, the world's largest cellular phone operator, is planning a multibillion-dollar share sale in Shanghai as early as next month to attract domestic investors, sources familiar with the situation said on Monday.
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Microsoft to buy $12 mln stake in China TV maker

Microsoft Corp. has agreed to pay 94 million yuan ($12.3 million) for a stake in Sichuan Changhong Electric Co. and will form a cooperative alliance with the TV and electrical appliance maker, the Chinese company said on Monday.
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China censors 'Pirates' for 'vilifying Chinese'

China has censored part of the latest installment of hit Hollywood movie 'Pirates of the Caribbean' for 'vilifying and defacing the Chinese,' the official Xinhua news agency said on Friday.
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Sun Micro eyes revenue rise in greater China

Sun Microsystems Inc. expects a double-digit rate of revenue growth in its greater China region in the next fiscal year as the computer networking firm rolls out new products, a senior executive said on Friday.
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Colgate warns of fake toothpaste in U.S.

Colgate-Palmolive Co. on Thursday said counterfeit 'Colgate' toothpaste that may contain a toxic chemical had been found in discount stores in four U.S. states.
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Dollar at 4-1/2 yr high vs yen as yields hold firm

The dollar hit a 4-1/2-year peak against the yen on Thursday, extending gains after strong U.S. retail sales data the previous day reinforced expectations the Federal Reserve would not cut interest rates this year.
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MySpace China aims to launch IM service

News Corp.-invested MySpace China aims to launch an online messaging service as soon as possible, its CEO said on Wednesday, as the venture fights for a bigger share of the world's second-largest Internet market.
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Hedge funds' hopes rise for China opening

Hedge funds, known for flexing their financial muscles around the globe but still largely shut out of China, hope the quickening pace of Beijing's reforms will open new gateways into the world's fourth-largest economy.
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Markets under pressure on rate fears

Oil and industrial metals prices extended the week's sharp falls on Wednesday on fears that rising interest rates will dent demand from investors and consumers.

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