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Wednesday, December 29, 2010 12:00 AM PST

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Today's Business News: Japanese stocks edge up, miners drag on Australia China's rare earths export cut raises trade concerns Investor doubts linger over holiday sales upside Groupon files to raise up to $950 million SAP must pay Oracle some interest on $1.3 billion verdict European stocks slide on China rate action Japan output up on Asia demand Cal-Maine Foods 2Q net income down on feed costs European anarchists grow more violent, coordinated Tower Australia directors back Dai-ichi Life deal China needs to maintain trade surplus: vice minister Late surge seen in US Christmas shopping Garrett: U.S. support for housing market to be withdrawn slowly Oil steadies above $91 ahead of U.S. inventory data Siemens ex-board member to stand trial over scandal Australian rare earths miner leaps on China cuts For Business Schools, Culture Matters Japanese stocks edge up, miners drag on Australia Tue, 28 Dec 2010 10:39 pm PST Reuters - Asian shares rose on Wednesday, with Japan's Nikkei maintaining a fourth quarter rally as investors hunted bargains in one of the developed world's cheapest markets, but Australia's main index lagged as bad weather hit shares in mining heavyweights. Full Story Top China's rare earths export cut raises trade concerns Tue, 28 Dec 2010 11:54 pm PST Reuters - China has raised fresh international trade concerns after slashing export quotas on rare earths minerals, risking action from the United States at the World Trade Organization. Full Story Top Investor doubts linger over holiday sales upside Tue, 28 Dec 2010 02:14 pm PST Reuters - New sales data confirm that retailers are poised to show their best holiday season in three years, but investors seemed unimpressed as concerns mount that shoppers will pull back in the new year. Full Story Top Groupon files to raise up to $950 million Tue, 28 Dec 2010 05:12 pm PST Reuters - Groupon Inc, the fast-growing online coupon seller, has been authorized to raise up to $950 million in what would be the biggest round of equity financing by any company since Pixar in 1995. Full Story Top SAP must pay Oracle some interest on $1.3 billion verdict Tue, 28 Dec 2010 05:54 pm PST Reuters - SAP AG (SAPG.DE) must pay Oracle Corp (ORCL.O) prejudgment interest on a recent $1.3 billion copyright infringement verdict, but not at the formula suggested by Oracle, according to a judge's ruling filed on Tuesday. Full Story Top European stocks slide on China rate action Mon, 27 Dec 2010 04:07 am PST AFP - European stock markets retreated Monday, with sentiment dampened by a rise in Chinese interest rates, while the euro edged higher. Full Story Top Japan output up on Asia demand Tue, 28 Dec 2010 12:59 am PST Reuters - Japanese factory output rose for the first time in six months in November and manufacturers expect to boost production in coming months, suggesting that firm demand in Asia will help the economy resume a recovery early next year. Full Story Top Cal-Maine Foods 2Q net income down on feed costs Mon, 27 Dec 2010 12:39 pm PST AP - Second-quarter net income at Cal-Maine Foods Inc. fell nearly 6 percent, the company said Monday, citing higher feed costs. Full Story Top European anarchists grow more violent, coordinated Tue, 28 Dec 2010 02:23 pm PST AP - A loosely linked movement of European anarchists who want to bring down state and financial institutions is becoming more violent and coordinated after decades out of the spotlight, and may be responding to social tensions spawned by the continent's financial crisis, security experts say. Full Story Top Tower Australia directors back Dai-ichi Life deal Tue, 28 Dec 2010 11:06 pm PST AFP - Shares in life insurer Tower Australia jumped more than 40 percent Wednesday after it unanimously recommended shareholders accept a takeover offer from Japan's Dai-ichi Life Insurance Co. Full Story Top China needs to maintain trade surplus: vice minister Mon, 27 Dec 2010 05:09 pm PST Reuters - It is essential for China to maintain a trade surplus and expand its share of global trade, a senior official said in comments reported on Tuesday that appeared to cut against the government's pledge to seek more balanced trade ties. Full Story Top Late surge seen in US Christmas shopping Tue, 28 Dec 2010 12:18 pm PST AFP - US retailers were hoping for bumper Christmas sales to ignite modest consumer spending, and there were fresh signs on Tuesday that they might get it, thanks to an apparent late shopping surge. Full Story Top Garrett: U.S. support for housing market to be withdrawn slowly Tue, 28 Dec 2010 09:30 pm PST Reuters - Government support for the housing market should be cautiously withdrawn and not be rushed, Scott Garrett, the incoming chairman of the U.S. House Financial Services subcommittee, told the Wall Street Journal. Full Story Top Oil steadies above $91 ahead of U.S. inventory data Tue, 28 Dec 2010 10:12 pm PST Reuters - Oil steadied above $91 a barrel on Wednesday ahead of U.S. inventory data expected to show a drawdown in crude and distillate stocks in the world's largest oil user. Full Story Top Siemens ex-board member to stand trial over scandal Tue, 28 Dec 2010 10:13 am PST AFP - A former Siemens board member will stand trial next month on charges of tax evasion and not doing enough to prevent one of the biggest fraud scandals in German corporate history, a court said Tuesday. Full Story Top Australian rare earths miner leaps on China cuts Tue, 28 Dec 2010 09:04 pm PST AFP - Australian rare earths miner Lynas on Wednesday said China had slashed its exports quota for the lucrative metals used in flat screens and hybrid cars, driving a 12 percent jump in its share price. Full Story Top For Business Schools, Culture Matters Fri, 24 Dec 2010 05:08 am PST BusinessWeek - Have business schools contributed to creating overconfident and self-focused leaders? I suspect many of you will nod your head in agreement. You might even declare that, by extension, business schools share blame for the economic crisis. As a business school dean, I take these perceptions seriously; there is enough in them to warrant careful reflection. Full Story Top

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