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Credit
Agricole to buy full control of Credit Lyonnais
Paris: Credit Agricole agreed to buy full control
of Credit Lyonnais on Monday for $16.5 billion, creating
one of Europe's biggest financial institutions.
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EU
proposes to cut farm subsidies at WTO
Brussels: The European Commission on Monday outlined
an "ambitious" proposal to open its farm market
and cut trade distorting and export subsidies as part
of the ongoing negotiations on agriculture at the WTO.
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China's
car sales hit one million for first time
Beijing: Annual car sales in China have topped
the one million mark for the first time as a rising urban
middle class crowns the world's fastest-growing market
for foreign automakers, industry executives said on Monday.
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Top
notch advisers fail to pull off satellite merger
New York: A series of subtle miscalculations by
the top notch team of advisors hired by Hughes Electronics
and EchoStar Communications played a key role in the failure
of the satellite TV mega-merger this week, industry watchers
say.
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EDS
will pay WorldCom $187 mn to settle: WSJ
New York: Computer-services company Electronic
Data Systems will pay WorldCom $187 million under terms
of a proposed agreement filed on Friday with the court
overseeing WorldCom's Chapter 11 bankruptcy reorganisation,
the Wall Street Journal reported on Monday.
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AOL
moves to integrate Time content online: report
New York: Time Inc. is expected to announce that
Ned Desmond, president of the company's Business 2.0 magazine,
has been chosen to oversee the integration of Time Inc.
content into the AOL service at parent AOL Time Warner,
Monday's New York Times reported.
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Nasdaq
CEO Simmons to step down next year
New York: The Nasdaq stock market said late on
Friday its chief executive, Hardwick Simmons, would resign
next year after more than two years of difficult times
for the technology-loaded exchange.
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