AVIATION GIANT: A link-up of the two US carriers would surpass American as the biggest airline, but gaining the support of labor unions is crucial to the deal taking place
Delta Air Lines Inc may reach a merger agreement with Northwest Airlines Corp that would form the world's largest carrier, two people familiar with the talks said.

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Societe Generale SA (SocGen), hurt by trading losses incurred by trader Jerome Kerviel, is selling shares at 47.50 euros (US$68.91) as it seeks to raise 5.5 billion euros in a rights offer.

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UPS AND DOWNS: The European currency advanced yesterday, as did the Australian dollar, while the South African rand, the Canadian dollar and the Japanese yen faltered
The euro rose against 12 of the 16 most-traded currencies after European Central Bank (ECB) President Jean-Claude Trichet said "economic fundamentals are sound" and that no policymakers are calling for interest rate cuts.

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Countrywide Financial Corp, under pressure to help stem growing home loan defaults, says it will expand programs to help borrowers manage their mortgage payments regardless of the type of subprime loan they have or whether they have already fallen behind on payments.

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Venezuelan President Hugo Chavez warned that his government could expropriate some milk plants to confront shortages, singling out Italy-based Parmalat SpA and Swiss-based Nestle SA.

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The US technology industry's outlook for this year looks worse than it did just two months ago, when fears of a US recession were already leading analysts to predict a slowdown in purchases of computers, software and tech services.

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World oil prices continued higher in Asian trade yesterday while supply worries outweighed concerns about the health of the US economy, analysts said.

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