Qatar Set to Gain Control of Canary Wharf

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Qatar’s sovereign wealth fund and Canadian investors Brookfield Property Partners are set to gain control of London’s Canary Wharf business district in a deal worth £2.6 billion ($3.94 billion).

STMicro Warns of Slack Sales

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STMicroelectronics, Europe’s largest semiconductor maker, expects weaker demand for its chips early this year as it swung into the black in the fourth quarter, with lower costs offsetting a decline in revenue.

Electrolux Swings to Profit

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Swedish home appliance maker Electrolux said it swung to a net profit in the fourth quarter following a strong improvement in operating income for its Major Appliances business in Europe, Latin America and Asia.

H&M Profit Beats Expectations

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Swedish clothing retailer Hennes & Mauritz reported a stronger-than-expected rise in net profit for the fourth quarter, and said that it plans to open 400 new stores in 2015.

IKEA Posts Slight Profit Rise

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IKEA said increased growth in all its sales channels helped drive a slight rise in net profit for fiscal 2014 as demand remained high in North America and continued to recover in Europe.

OZ Minerals Mulls Asset Sales

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OZ Minerals launched a review that will consider the possible sale of one of Australia’s biggest copper mines, as the company’s new chief executive grapples with prices of the commodity tumbling to a 5½ year low.

China Raps Alibaba Over Fake Goods

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A Chinese government agency on Wednesday criticized Alibaba Group Holding Ltd. for offering fake goods on its online marketplaces and for lax internal controls.

Roche Profit Misses Forecasts

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Swiss drug maker Roche said full-year net income fell 16% despite rising sales of its cancer treatments.

China Aims to Prop Up Its Chip Makers

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As China tries to forestall foreign governments from tapping its phones, the country is investing growing amounts of money into domestic chip makers and tasking them with developing processors for “safe phones.”

Debt That Once Boosted Its Cities Now Burdens China

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Rampant borrowing by firms like Wuhan Urban, a local-government concern that funds development in dusty Wuhan city, is a big reason China’s debt load is expanding.

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