PRIORITIES: A shareholders association criticized the fact that around 50 people in the bank's investment division earned more than its chairman, Daniel Bouton
Employee shareholders at Societe Generale said yesterday they had started legal action following a multibillion-dollar rogue trader scandal at the French bank.

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COSTLY WINTER: Storms have caused losses of 22 billion yuan across the country since they began on Jan. 10, the Civil Affairs Ministry said on Tuesday
China's financial capital saw fresh snowfall yesterday as the impact of unusually wintry weather deepened, highlighting the vulnerabilities of the country's booming economy.

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After announcing a sharp drop in fourth-quarter profits on Tuesday, Yahoo issued a disappointing outlook for this year, suggesting that investors would have to wait until next year for a turnaround.

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Vietnam's central bank yesterday said it would raise benchmark interest rates for the first time since December 2005, battling double-digit inflation that has sparked popular anger and labor unrest.

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EBay said on Tuesday it is cutting fees it charges people to offer items for sale and raising standards on its auction Web site.

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Swiss banking giant UBS said yesterday it will post a full-year loss of 4.4 billion Swiss francs (US$3.5 billion) this year because of its exposure to the US subprime crisis.

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■ ECONOMY

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