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EU parliament mulls Google break-up

The European Parliament is preparing a non-binding resolution that proposes splitting Google Inc’s search engine operations in Europe from the rest of its business as one possible option to rein in the Internet company’s dominance in the search market. European politicians have grown increasingly concerned aboutFULL STORY

China rate cut to hit profits: ICBC president

China’s cut in interest rates is set to squeeze banks’ margins, the head of the world’s most profitable lender said. On Friday, the People’s Bank of China raised the cap on what banks can pay customers for deposits to 120 percent of the benchmark rate fromFULL STORY

World’s ultra-rich getting still wealthier: UBS report

A bare 0.004 percent of the world’s adult population controls nearly US$30 trillion in assets, 13 percent of the world’s total wealth, according to a new study released on Thursday. Perhaps unsurprisingly, the study by the Swiss bank UBS and luxury industry consultant Wealth-X said theFULL STORY

SUVs return to favor at Los Angeles Auto Show

With US gas prices at historic lows and ever-more economical engines, the sports utility vehicle (SUV) increasingly rules the road — and not only in the US. At least that is the message from the Los Angeles Auto Show, which opened to the public onFULL STORY

Samsung Electronics seeks to block Nvidia chips

Samsung Electronics Co is seeking to block computer-graphics chips made by Nvidia Corp from the US market, escalating a battle begun after licensing talks failed. Samsung filed a complaint on Friday against Nvidia with the US International Trade Commission (ITC) in Washington, according to a noticeFULL STORY

Probe results in charge for HSBC’s Swiss banking unit

HSBC Holdings PLC’s Swiss private-banking unit has been charged by French magistrates and ordered to post a 50 million euro (US$62 million) security deposit amid a tax-evasion probe. The bank was charged on Tuesday with money laundering through tax fraud and illegal bank and financial marketingFULL STORY

Mafia eye ‘immigrant hotels’ reviving Sicily’s economy

By Ella Ide

Asylum seekers washing up by the thousands in recession-hit Sicily are boosting the local economy as hotels transform into immigrant centers, with help from state subsidies said to have caught the mafia’s eye. Sofas and wide-screen TVs in the once opulent suites of the VillaFULL STORY

Boko Haram fear scares tourists to Cameroon away

By Celia Lebur

Tourists once flocked to the rugged far north of Cameroon for its wildlife and spectacular scenery — until cross-border raids by Nigerian Islamist extremist group Boko Haram all but halted such visits. “Before we had many tourists, but people are afraid to come now,” said MoussaFULL STORY

Thirst for Shariah-abiding beer shows promise of halal stocks

By Liau Y-Sing

Eight years ago, Taleb Mohamad Almahmoud started importing a non-alcoholic beer popular in the Middle East to Malaysia. Now, he is bringing more than 300,000 bottles of Dubai-brewed Barbican into the country a month. “There are many Arabs here and they like the drink because there’sFULL STORY

Wall Street rises to fresh highs

As US traders finished the last full week of business before Thanksgiving, Wall Street was feeling grateful for fresh records, central banks stimulus and big corporate mergers. The Dow Jones Industrial Average rose 175.32 points (0.99 percent) to 17,810.06, while the S&P 500 gained 23.68 (1.16FULL STORY

EU markets jump after Draghi inflation vow

Stocks in Europe climbed to a two-month high this week, as European Central Bank (ECB) president Mario Draghi reiterated his commitment to raising inflation as fast as possible and China cut interest rates. The STOXX Europe 600 Index added 2.1 percent to 345.24 at the closeFULL STORY

Won leads fourth weekly drop in Asian currencies

Led by the won, Asian currencies fell for a fourth time this week, as Japan’s record monetary stimulus drove down the yen and the prospect of higher US borrowing costs buoyed the greenback. The Bloomberg-JPMorgan Asia Dollar Index lost 0.2 percent from Nov. 14 as theFULL STORY

Greenback up on China rate cuts, euro falls on Draghi

The US dollar rose with global stocks, oil and metals this week after China cut interest rates, while the euro weakened as European Central Bank (ECB) president Mario Draghi said the financial authority must drive inflation higher. The Bloomberg Dollar Spot Index hit a five-year highFULL STORY

Asian stocks rise on Chinese stimulus

Asian stocks rose on Friday, with the region’s benchmark index paring its weekly loss amid signs that the US economy is improving and speculation that China will take steps to prevent a cash crunch before initial public offerings next week. Samsung Electronics Co, the world’s biggestFULL STORY

Most commodities rebound on double dose of stimulus

Commodity markets mostly rallied this week as China lowered interest rates for the first time in more than two years, boosting the country’s demand outlook. Prices also won support after European Central Bank president Mario Draghi signalled readiness to act quickly to deter deflation, sparking freshFULL STORY

World Business Quick Take

INTERNET Aereo files for bankruptcy Aereo Inc, an online startup that tried to offer a cheaper alternative to cable TV, has filed for Chapter 11 bankruptcy protection less than five months after an unfavorable ruling by the US Supreme Court. The company — backed by media mogulFULL STORY

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