CHINA

UPS profit up, keeps outlook despite economy

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United Parcel Service Inc , the world's largest package delivery company, reported higher second-quarter profit and reaffirmed its 2011 outlook despite a sputtering economic rebound.
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Nissan to invest $7.8 billion in China by 2015

Nissan Motor <7201.T>, the largest Asian automaker in China, plans to invest 50 billion yuan ($7.8 billion) there by the end of 2015, as it accelerates its expansion in the world's largest auto market.
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The Chilean rescued miners and members of their rescue team pose in front of the Phoenix 2 capsule that was used in the rescue of the 33 trapped miners at La Moneda government palace in Santiago

Mike Medavoy making movie about Chilean miners

The Chilean miners who were trapped underground for 69 days last year have sold their life rights to producer Mike Medavoy, who will begin production on a movie about the 33 men this year.
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Baidu sees strong third quarter on China ads

China's top search engine Baidu Inc forecast revenue well ahead of Wall Street's expectations as large advertisers increased spending, sending its shares up around 7 percent.
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Fed's QE2 had limited spillover effects, IMF says

The U.S. Federal Reserve's much criticized bond buying spree had only mild side-effects on other economies but the process of tightening monetary policy eventually may reverberate more harshly, an IMF report said on Monday.
Gold bars are pictured

'Thanks to Fed?s War on Dollar, Gold will Reach $2K an Ounce This Year'

Another impasse at the U.S. debt ceiling talks caused gold to touch new highs on Monday. Spot gold rose to a record $1,622.49 per ounce, an increase of 1.1 percent, as investors became nervous about the possibility of a U.S. rating downgrade. There are analysts who believe that irrespective of whether there will be a debt deal in the U.S. or not, gold will continue to rise higher, basically because of the residual weakness of the dollar.
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GE moving top X-ray executives to China

General Electric Co is moving its global X-ray headquarters to China from the United States as part of the largest U.S. conglomerate's overall drive to boost its presence in big emerging markets.
A high speed bullet train runs past a railway bridge past carriage wreckage (below) after two trains crashed and derailed in Wenzhou, Zhejiang province July 25, 2011. China sacked three senior railway officials on Sunday after a collision between two high

China's effort to muzzle news of train crash sparks outcry

Government directives demanding journalists not question official accounts of a deadly high-speed train crash in eastern China are fueling public anger and suspicion about conflicting details of the accident, such as the death toll.
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Clinton seeks to reassure Asia on U.S. debt

Secretary of State Hillary Clinton sought to reassure Asian investors over U.S. debt worries Monday, saying she was confident President Obama would ultimately reach a deal with congressional leaders to prevent a catastrophic default.
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Chinese city orders two fake Apple Stores to close

Chinese officials in Kunming have ordered two fake Apple shops to close, not because of piracy or copyright concerns, but because the stores in the southwestern city did not have an official business permit.

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