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Deals
dry up, Wall Street braces for more lay-offs
New York: The paucity of mergers and other deals
on Wall Street has traders and bankers spending most of
their time these days worrying about their jobs.
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Bangladesh
to undertake 'massive' financial reforms
Dhaka: Bangladesh has promised 'massive' financial
reforms as a World Bank and International Monetary Fund
team reviews the country's economic situation, officials
said on Sunday.
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China
carmaker joins GM in Daewoo venture
Beijing: China's third largest auto firm, Shanghai
Automotive Industry Corp. Group, has joined General Motors
in a joint venture with South Korea's Daewoo Motor, the
first Chinese auto maker to invest in a foreign one.
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Narrowing
rate gap may cut bank earnings
New York: Failing to heed the squeeze they suffered
a decade ago, banks risk a drop in earnings from bad bets
on US interest rates.
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Silicon
Valley residents losing faith in economy
New York: A year ago, people here were hopeful
that the economy would have rebounded by now. But as the
country continues to struggle with high unemployment and
low stock prices, residents of Silicon Valley -- a region
particularly hard hit by the downturn -- are losing faith
in a recovery locally, or nationwide.
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FDA
wants new trial on Brystol-Myers' hypertension drug
Washington, DC: Bristol-Myers Squibb on Friday
got its latest dose of bad news when the US Food and Drug
Administration informed the company it must conduct at
least one more clinical trial before the agency will consider
approving its hypertension drug Vanlev.
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WorldCom's
Myers pleads guilty in second case
Washington: WorldCom's former controller, David
Myers, pleaded guilty on Friday to a Mississippi state
charge relating to his role in the more than $7 billion
accounting fraud at the telephone giant.
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Infosys
back to higher premium
New York: The US market at last was able to break
the downward slide after failing six consecutive weeks.
The rally came after Aetna Inc and Yahoo Inc announced
better-than-expected results. Besides, General Electric
Co also came out with decent numbers.
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