`WRENCHING CHALLENGES': The French bank has become the first financial institution to create a wholly foreign-owned bank in China with the purchase of ICBC
French bank BNP Paribas SA has created China's first wholly foreign-owned bank, buying its Chinese partner's share in a Shanghai institution.

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Ericsson AB, the world's largest maker of wireless networks, said it expects China to issue new mobile-phone licenses by the second half of next year, adding that any delay may curb growth for the nation's multibillion-dollar phone-equipment industry.

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Citigroup Inc offered to buy businesses that account for a fifth of Hynix Semiconductor Inc's sales from Korea Exchange Bank and other creditors that helped bail out the world's third-largest memory-chip maker, an official at the Seoul-based bank said.

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The European Commission (EC) signaled for the first time Wednesday that it is prepared to water down its hardline negotiating position on trade in order to restart stalled global negotiations.

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Samsung Electronics Co, the world's largest maker of liquid-crystal displays (LCDs), said sales from the business will increase 40 percent next year as demand surges for flat-screen televisions and computer monitors.

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Thanksgiving holiday or not, online food sales are up in the US: three years after the collapse of the much ballyhooed new economy, internet grocers have downscaled their earlier ambitions and are working closely with local customers to make profits.

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■ Stock markets
NYSE amends constitution
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