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New York Times
Big Dreams for North Korean Industrial Park South Koreans hope to turn the Kaesong Industrial Park into a capitalist foothold that might someday undermine the Stalinist North Korean state. Report Suggests Breakup of British Airport Operator British competition authorities called for the breakup of BAA in a preliminary report that recommended the sale of two of its three airports serving London and one in Scotland. Evercore Partners Nearing a $120 Million Deal With Mizuho Evercore Partners, the boutique investment bank, would use fresh capital from Mizuho to expand its investment management business, people briefed on the matter said. NBC to Acquire British Production Agency for International Unit NBC Universal said that it had signed an agreement to acquire an independent production agency in Britain, giving it a base of operations for international expansion. As Oil Giants Lose Influence, Supply Drops Though eager to expand, the major Western oil companies are finding it harder than ever to find new prospects. General Dynamics to Buy Jet Aviation General Dynamics said that it would acquire Jet Aviation, a privately held provider of business-aviation services based in Zurich, for about $2.25 billion in cash. Record Profit at BHP Billiton Eases Doubts BHP, the world’s largest mining company, reported net income of $15.4 billion for the year, helped by the jump in commodity prices, higher production and an ability to pass on higher costs. Japanese Bank Buys Rest of UnionBanCal Mitsubishi UFJ Financial Group, one of Japan’s largest banks, agreed to buy the remaining part of UnionBanCal Corporation that it does not already own for about $3.5 billion. Long Delayed, German Railroad’s Stock Sale Moves Ahead Today’s unsettled financial markets is not stopping Deutsche Bahn from going ahead with what may be the last big privatization of a former state monopoly in Europe’s largest economy. Venezuela Is Set to Take Control of Cemex Plants Venezuela will take control of cement plants and offices belonging to Mexico’s Cemex as of midnight Monday night after failing to reach an agreement in nationalization talks, the government said. Export Boom Helps Farms, but Not American Factories A surge in U.S. commodity exports is a relief in an otherwise bleak economy, but it is an unreliable prop for an industrial power. In Kenya, Mobile Growth Also Benefits Ad Agencies Telecommunications companies are expected to spend about 4.7 billion Kenyan shillings (or $72 million) on advertising this year, according to a Nairobi-based newspaper. Economic View: How Fuel Subsidies Drag Down a Nation When countries adopted bad economic policies in decades past, only their own citizens paid a price. In today’s globalized economy, however, the burden falls more broadly.
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