CHINA

Exclusive: China eyes creation of ASEAN Bank

Late Chinese leader Mao Zedong is seen on a 100 yuan banknote in this photo illustration taken in Beijing
China is considering a proposal to set up a regional bank to help its small and medium enterprises invest in Southeast Asian neighbors, fund infrastructure projects and promote development in southwestern China, two independent sources said.
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Caroline Wozniacki

Sharapova Hands Wozniacki No. 1 Spot

Despite losing 6-2, 4-6, 3-6, to Russian Vera Zvonareva on Wednesday, Denmark's Caroline Wozniacki confirms her position at the top of the WTA women's singles tennis rankings.
Greece's Prime Minister George Papandreou arrives at a news conference at the end of a euro zone summit in Brussels

European Leaders Agree to 50% Writedown on Greek Debt

European leaders agreed Thursday morning that banks and other major investors in Greek bonds must take losses of up to 50 percent to prevent a Greek government default. The rescue fund is a response to global pressure to lower Greece's debt burden and attempt to contain the spreading debt contagion that threatens the euro zone.
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Ford's lackluster outlook disappoints

Ford Motor Co posted a lower third-quarter profit after taking a hit from plunging metals prices and sustaining losses in its European and Asian operations.
Incoming ECB President Draghi speaks at the "World Savings Day" meeting in Rome

Eurozone gets ECB boost, summit deal uncertain

The incoming head of the European Central Bank threw the euro zone a lifeline hours before a crucial summit on Wednesday which looked set to fall short of a definitive plan to tackle the bloc's debt crisis.
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Nokia unveils first Windows phones

Nokia unveiled its long-awaited first Microsoft Windows phones on Wednesday, betting on the two sleek new models to get it back into the race with Apple and Google.

Incoming ECB Head Gives Eurozone Pre-Summit Boost

The incoming head of the European Central Bank threw the Eurozone a lifeline hours before a crucial summit on Wednesday by signaling the bank would go on buying troubled states' bonds to combat market turmoil.
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BAA earnings boosted by Heathrow growth

BAA reported a 17 percent rise in earnings in the first nine months of the year, helped by strong traffic growth, especially at London's Heathrow airport.

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