SUPPLY: As prices fell further in Asian trading, the cartel's head said its members were already producing more than 2 million barrels per day above their quota
OPEC's president said yesterday that the cartel's members excluding Iraq were producing 29.7 million barrels per day (bpd), 2.2 million bpd above the official quota, and there was no immediate need to pump any more oil.

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FAITH-BASED BUSINESS: Decades of campaigning by religious groups have been adapted to the world of finance to apply pressure on managers to mend their ways
Armed with the power of faith and billions of dollars, the US' mighty religious establishment is trying to reform the country's boardrooms on issues from human rights to television violence.

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The American International Group (AIG), the embattled insurance giant, said Sunday night that an in-depth examination of its operations had turned up additional accounting improprieties going back to 2000 that would reduce its net worth by US$2.7 billion, or US$1 billion more than it had previously estimated.

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China has issued long-awaited guidelines for the sale of non-tradeable state-owned shares in listed companies, according to a statement on the China Securities Regulatory Commission (CSRC) Web site.

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Investment wizard Warren Buffett said on Sunday that adding fellow billionaire Bill Gates to the board of Berkshire Hathaway Inc will help ensure Berkshire's success, even after Buffett is gone.

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■ Toys
Bandai, Namco join forces
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