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The restructuring of Sogou by introducing strategic investors including Alibaba will help the Chinese search engine to expand its market shares.

As the new owner of Volvo, Geely said it would move Volve upmarket and offer a competitor to the BMW 7 Series and Mercedes-Benz S-Class.

Gome said the board of directors decided to sue Huang Guangyu over his “alleged breach of fiduciary duties as a director of the Company relating to the repurchases of the company’s own shares in or about January and February 2008, and breach of trust.”

30 selected strategic investors have committed up to 60 billion yuan ($8.86 billion) for the proportions of 6.1 billion-share offering.

Cathay Pacific Airways Ltd. said Wednesday its first-half profit surged to 6.84 billion Hong Kong dollars ($881 million), or 173.9 Hong Kong dollars per share on a strong recovery in demand.

Both domestic and foreign banks, by establishing private banks in China, aim to lay a good foundation in exploring clients before the country lifts the cap on businesses in this segment.

Chinese car maker Zhejiang Geely Holding completes its $1.8 billion acquisition of Volvo Car Corp. from Ford Motor Co..

The deal, once completed, will make Li Ka-Shing one of the largest holders of the UK’s infrastructure assets with one fourth of the country’s electricity distribution market in hand.

The agreement will allow Chalco to aquire a 47 percent stake in the new JV by providing 1.35 billion U.S. dollars through sole-funding of ongoing development work over the next two to three years.

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