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23 Feb 2005 10:56 AM
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Winn-Dixie files for Chapter 11 protection:
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Winn-Dixie, the US fourth-largest grocer, filed Monday for Chapter 11 bankruptcy protection in an attempt to repay its creditors and return to profitability.
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23 Feb 2005 10:55 AM
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Billionaires invest in cable companies:
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Big investments made by Warren Buffett and George Soros, the billionaire fund managers, in the same sector on the same day have attracted the attention of Wall Street.
Berkshire Hathaway group, owned by Mr. Buffet, last week doubled its stake in Comcast, the biggest US cable provider, bringing its holding to 10 million shares worth about $328 million. The same day, Mr Soros bought $50 million in shares in Comcast’s chief rival, Time Warner.
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23 Feb 2005 10:28 AM
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Alcatel, Microsoft pair to develop digital TV platform:
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Microsoft and Alcatel said they would jointly develop a new digital TV platform over IP.
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23 Feb 2005 09:51 AM
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CPI soothes inflation worries:
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A low rise in consumer prices last month soothed inflation worries. As the energy prices lost much of their increase in January, consumer prices edged up only 0.1%.
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22 Feb 2005 01:32 PM
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Iranian FM offers India 3-year multiple visas:
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Kamal Kharrazi, Iranian Foreign Minister, said Monday it would be suitable for India and Iran to launch a three-year multiple visa facility to encourage Indian businessmen to invest into Iranian companies.
Mr. Kharrazi announced a three-year multiple visa facility for all the investors and businessmen which will also be able to stay in Iran for long term. This is the way to improve IT, engineering, biotechnology and tourism industries
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22 Feb 2005 12:47 PM
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Britain assists Rover-China venture:
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Britain’s finance minister Gordon Browns lobbies the Chinese for MG Rover rescue. He pledged that the British government will do anything possible to make the deal between country’s MG Rover and China’s leading carmaker Shanghai Automotive Industry Corp (SAIC) successful.
"Both
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22 Feb 2005 11:48 AM
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Qwest longs for launching amended offer for MCI:
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MCI is forced to revise its acceptance of a $6.75 billion (£3.6 billion) buyout offer from Verizon Communications. Qwest has complained that their earlier approaches to MCI were not properly rated by MCI that rejected any offers from Qwest as it has already accepted Verizon’s proposition, even though it was valued 19% less than Qwest’s most recent bid. Some leading MCI shareholders support the idea that MCI should
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22 Feb 2005 08:57 AM
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Nissan Names new Chief Operating Officer:
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Japanese automakers Nissan named a new COO. Starting with May, the Nissan Motor Co. will continue working under the direction of Renault’s chief executive Carlos Ghosn.
While Mr. Ghosn will continue to rev up growth for Nissan, Mr. Toshiyuki Shiga, who has 29 years with the company, will assume much of the day-to-day responsibility for running it.
The
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22 Feb 2005 08:43 AM
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Update 1: Novartis to boost profits on Hexal acquisition:
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Swiss drug maker Novartis agreed Monday to buy German firm Hexal and a stake in the US firm Eon Labs for a total of €5.6 billion.
The deal is expected to lift annual sales at its Sandoz generic unit to about $5 billion after the acquisitions. The deal will make Novartis the biggest generic drugs maker over the globe with leading positions on the German
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22 Feb 2005 08:35 AM
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Home Depot fourth-quarter profit rose 9.5% on good sales data:
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Home Depot, the world’s largest home-improvement retailer, reported that its fourth-quarter profit rose 9.5% on good sales data.
Profit
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22 Feb 2005 04:05 AM
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MERRILL LYNCH RAISED CHRISTIAN DIOR TO "BUY" FROM "NEUTRAL":
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MERRILL LYNCH RAISED CHRISTIAN DIOR TO "BUY" FROM "NEUTRAL"
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