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Rich China Communists Echo U.S. Tea Party Activists in Property-Tax Debate Zong Qinghou, China’s richest man,
says a property tax will hurt homeowners. Wang Jianlin, the 16th
wealthiest, agrees. Lu Guanqiu, No. 19, says China isn’t ready
for such a levy.
Mercedes Bets `Old Man' Car Image Ends With Schumacher's Formula 1 Return Mercedes-Benz scored a publicity
coup by luring Michael Schumacher out of retirement to race for
its new Formula One team. It might backfire if he can’t keep up
with drivers a generation younger.
Disney World Bullet Train May Spur U.S. Sales of Japan, China Locomotives Walt Disney World in Florida may be
the next stop for bullet-train makers in Japan and China.
GDF, Siemens, Alstom Turn to Saudi Partners for $400 Billion in Contracts ACWA Power International, the
biggest Saudi power project developer, was rebuffed by GDF Suez
SA and Marubeni Corp. in 2004 when it proposed partnering to bid
for a $2.4-billion desalination and power plant.
Renault, Daimler Share-Swap Talks Said to Stumble on Valuation Differences Daimler AG and Renault SA have been
unable to resolve differences over valuations as the carmakers
explore a share swap that would bring Daimler into the Renault-
Nissan alliance, two people familiar with the matter said.
Worst Returns Fail to Make U.S. Telephone Stocks Cheap: Chart of the Day Telephone companies in the U.S.
including AT&T Inc. have posted the worst returns during the
yearlong rally in the Standard & Poor’s 500 Index, and their
shares are expensive considering their growth prospects.
San Miguel Plans $1 Billion in Asset Sales to Finance Expansion, Ang Says San Miguel Corp., the Philippines’
biggest food and drinks maker, plans to raise $1 billion selling
stakes in its food, packaging and liquor businesses to fund
growth and acquisitions.
Dinallo Receives Attorney General Campaign Cash From Insurers He Regulated Eric Dinallo, the former insurance
superintendent running for New York attorney general, has
received more than 15 percent of his campaign donations from the
industry he regulated until July.
Goldman Sachs Squeezes Hedge Funds in $110 Billion `Collateral Arbitrage' Goldman Sachs Group Inc. and
JPMorgan Chase & Co., two of the biggest traders of over-the-
counter derivatives, are exploiting their growing clout in that
market to secure cheap funding in addition to billions in
revenue from the business.
Muni Middleman's Financing in the Dark Leaves Homeless Outside Looking In David Rubin, accused of rigging
hundreds of investment contracts for local governments across
the U.S., is at the center of investigations by city and federal
authorities into a Los Angeles housing development.
Google Advertisers in China Told to Switch on Speculation Site Will Shut Google Inc. advertisers in China
are being advised to switch to rivals such as Baidu Inc., and
business partners are exploring alternatives as speculation
grows the U.S. company will shut its Web site in the country.
Regulators Blamed Human Error as Ford Led Non-Toyota Acceleration Deaths U.S. regulators have tracked more
deaths in vehicles made by Ford Motor Co., Chrysler Group LLC
and other companies combined than by Toyota Motor Corp. during
three decades of unintended acceleration reviews that often
blamed human error.
Money Rates Rising Foreshadow Treasury Losses as Bernanke Prepares an Exit Money market interest rates at
five-month highs show the Federal Reserve is laying the
groundwork to siphon a record $1 trillion in excess cash from
the banking system and sending a bearish signal on Treasuries.
OPEC Expands Oil Rigs Most in Three Years as Quota Promises Prove Illusory OPEC is increasing oil drilling at
the fastest rate in 2 1/2 years, even as production exceeds its
quotas by the equivalent of a supertanker of crude a day and
delegates prepare to pledge no increase in output.
Cnooc May Step Up Overseas Acquisitions After $3.1 Billion Bridas Purchase Cnooc Ltd.’s failure to buy Unocal
Corp. for $18.5 billion in 2005 taught Chairman Fu Chengyu a
lesson: use overseas ventures rather than takeovers to gain the
global oil resources China needs.
`Invisible Power' of London Money Exposed as Lord Mayor Fights Politicians When money needs to talk in London,
it’s the lord mayor who speaks.
Monsanto May Have Antitrust Edge as Protecting Patents Trumps Competition Monsanto Co., facing antitrust
probes into its genetically modified seeds, may benefit from
previous court rulings in which intellectual property rights
trumped competition concerns, antitrust lawyers say.
BHP, Anglo, Xstrata Bypass Europe on 10,000-Mile Coal Route to China Ports BHP Billiton Plc, Anglo American
Plc and Xstrata Plc are shipping coal 10,000 miles to China from
their Cerrejon mine in Colombia for the first time this year
because of surging demand and rising prices in Asia.
Toyota Sets Goal of Regaining U.S. Market Share Lost to Recalls Within '10 Toyota Motor Corp. set a 2010 goal
of regaining most of the U.S. market share lost in the past two
months after global recalls of 8 million vehicles damped demand,
the No. 2 U.S. sales executive said.
Retail Buyouts Return in `Goldilocks' Market After Credit Freeze Thawed Private-equity firms looking to buy
retail and consumer companies said they’re now able to finance
deals and pay reasonable prices after the credit crisis and
global recession triggered a buyout slump.