SERIOUS PROBLEMS: The chief executive and top financial officer at the mortgage giant stepped down after a blistering report said it had violated accounting rules
The chief executive and top financial officer at mortgage giant Fannie Mae were forced out of the company as the second-largest US financial institution struggled to deal with revelations of serious financial-reporting problems.

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The European aircraft manufacturer Airbus Industrie, on track to eclipse US rival Boeing in annual deliveries for the second straight year, is closing out this year on a flood of Asian orders and has snared the first firm expression of interest in its future A350.

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Shares of Hynix Semiconductor Inc, the world's third-largest computer memory maker, rose after the WTO said US punitive tariffs on the South Korean company violate global trade rules.

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MUCH ADO: The US claimed that the EU wouldn't allow it to use geographical names like `Florida oranges,' but the EU says it has always welcomed such descriptions
The US claimed victory on Tuesday in a trade fight with the EU over the right of US exporters to use geographic food names such as Florida oranges or Idaho potatoes to describe their products in European markets.

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Russian President Vladimir Putin said the auction that saw the crown jewel of the Yukos oil empire bought by a mysterious company fully complied with Russian law, and he suggested that the new owners of the subsidiary could eventually link up with another Russian energy company.

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■ Software
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