The best may be over for Asian fund managers
New York: Reclining in a red leather chair in his Tokyo boardroom, Kai Sotorp, UBS Global Asset Management's new Asia Pacific chief, could be forgiven for feeling content.

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EU body pitches for more corporate transparency
London: European Commission advisers, seeking to prevent corporate scandals, recommended on Monday making board members legally responsible for firms' financial statements and fuller disclosure of executive pay packages.
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Vivendi faces two new US investigations
Paris: French-American media group Vivendi Universal, still struggling with the legacy of ousted chief executive Jean-Marie Messier, said on Monday United States authorities had launched two new investigations into the company.
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Online music sales hit lower pitch
New York: The embattled record industry got more bad news on Sunday as a study showed online sales of music dropped 25% in the first nine months of 2002.
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White House takes hard look at SEC chief
New York: The White House was taking a hard look at the future of top US markets regulator Harvey Pitt, with control of the Senate and the outcome of a US Securities and Exchange Commission internal probe seen as decisive factors.
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Iraq war could tip world into recession
Baghdad: War in Iraq could tip the world back into recession, a leading British think tank warned on Monday.
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United Air pilots agree to $2bn pay cuts
New York: A pilots' committee at United Airlines agreed late Friday to take up to $2.2bn in wage cuts over five-and-a-half years -- including an immediate 18% reduction -- and help the struggling carrier win federal backing of a big loan needed to avoid bankruptcy.
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Britons set to walk in Mao's steps
London: Two Britons have embarked on a historic trip by foot to emulate the epic "Long March" undertaken by 'chairman' Mao Zedong's Red Army in the mid-1930s through West China, the state media reported.
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Mizuho plans to cut jobs
Tokyo: Mizuho Financial Group, the world's largest banking group by assets, has decided to slash 8,000 jobs in response to a new government programme to clean up the banking system, a Japanese daily reported on Sunday.
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