Industries

Australian Retail Spending to Rise Through 2012 as Jobs Surge, Access Says Australian retail sales growth will accelerate in the next two years as consumer confidence gains on rising employment, according to Access Economics.

Vitasoy to Double China Capacity to Tap Growing Demand for Packaged Drinks Vitasoy International Holdings Ltd., a soy milk supplier to Starbucks Corp., will invest about 300 million yuan ($44 million) to double its capacity in China and tap increasing demand for packaged beverages.

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Crude Oil Falls for a Second Day on Stronger Dollar, U.S. Supply Increase Oil fell for a second day as the dollar strengthened and an industry-funded report showed an increase in U.S. crude supplies, fanning concern that demand in the world’s biggest energy user is slow to recover.

Reliance Sold Gasoline to Iran in April, May 2009, India's Government Says Reliance Industries Ltd., operator of the world’s largest refining complex, sold gasoline to Iran in April and May of last year, India’s government said.

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Apollo Management Said to Acquire Citigroup's Real Estate Investment Unit Apollo Management LP agreed to buy Citigroup Inc.’s real estate investment unit, according to a person with knowledge of the deal.

Senate Said to Weigh $50 Billion Trust Fund to Wind Down Failed Companies Senate negotiators are closing in on a deal to create a $50 billion trust fund from fees on large U.S. financial firms that likely will include Goldman Sachs Group Inc. and Citigroup Inc. and be used to wind down failing institutions, said a Senate aide and two people familiar with the talks.

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Abbott to Buy Facet for $450 Million to Add Experimental Cancer Medicines Abbott Laboratories, maker of the arthritis drug Humira, agreed to buy Facet Biotech Corp. for $27 a share in cash, for a net $450 million, adding experimental medicines in cancer and immunology.

OSI Bid Likely to Increase as Hungry Astellas Covets Cancer Drug Revenues OSI Pharmaceuticals Inc.’s status as one of the few U.S. biotechnology companies with income from an approved cancer drug likely will drive up the price Tokyo-based Astellas Pharma Inc. must pay to acquire it.

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AIG Climbs on Speculation Bailed-Out U.S. Insurer May Divest More Assets American International Group Inc., the insurer rescued by the U.S., climbed for a fourth day, jumping 17 percent, on speculation the firm may sell more assets after announcing deals to divest two units for $51 billion.

MetLife Chief Henrikson Eclipses Benmosche After Vow Not to Waste Crisis MetLife Inc. Chief Executive Officer Robert Henrikson, who vowed not to waste the financial crisis, will control a larger overseas life insurance operation than his old boss after agreeing to pay $15.5 billion for a unit of American International Group Inc.

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Apollo Management Said to Acquire Citigroup's Real Estate Investment Unit Apollo Management LP agreed to buy Citigroup Inc.’s real estate investment unit, according to a person with knowledge of the deal.

General Growth Backers Add $3.9 Billion to Boost Brookfield's Revival Plan General Growth Properties Inc. said its biggest debt and equity holders offered to jointly invest $3.93 billion in the company, bolstering a plan with Brookfield Asset Management Inc. to bring the mall owner out of bankruptcy.

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Fujitsu Investors Renew Calls for More Information Over Nozoe Controversy Fujitsu Ltd. drew renewed calls from investors to shed more light on the departure of former President Kuniaki Nozoe after the Tokyo Stock Exchange ended a probe into the conflicting reasons given by the company.

PCCW Says Chairman Richard Li's Plans to Buy Out Phone Company Are `Dead' PCCW Ltd., linked to a police probe following a court’s ruling that a buyout bid by Chairman Richard Li had been manipulated, said investors should consider the takeover plan as “dead.”

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Continental Air Open to Merger Should Competition Dictate, CEO Smisek Says Continental Airlines Inc., after calling off a merger with United Airlines two years ago, would resume consolidation efforts to remain competitive, Chief Executive Officer Jeff Smisek said.

Astra Says More Roads, Low Rates Key to Reviving Indonesian Sales Growth PT Astra International, Indonesia’s biggest auto dealer, said the nation must build more roads and keep interest rates low to revive demand for Toyota Motor Corp. cars that slumped amid last year’s global recession.

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