Telefónica, Telecom Italia Jostle for Vivendi's GVT

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Spanish telecom giant Telefónica sweetened its bid for Vivendi's Brazilian operator GVT to $9.83 billion in cash and shares, following a rival bid by Telecom Italia.

DP World First-Half Profit Rises 26%

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DP World's first-half profit rose 26% from a year earlier, as the Dubai-based ports operator handled more cargo amid healthier global trade.

Pernod Ricard Hit by China Weakness

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Pernod Ricard posted a 13% drop in full-year net profit as the French drinks maker continues to contend with a sharp sales decline in China.

Hong Kong Antigraft Agency Visits Media Mogul's Home

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Shares of Next Media were suspended from trading after Hong Kong's anticorruption agency visited the home of its founder, Jimmy Lai, an outspoken critic of Beijing.

Currency Spat Strands Venezuela Fliers

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With Venezuela holding back on releasing $3.8 billion in airline-ticket revenue because of strict currency controls, Delta, American and other airlines have slashed service to Venezuela by half since January.

Satellite Firms Get New Iran Waiver

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The U.S. gave European satellite companies Intelsat and Eutelsat Communications another six months to win back Iran's business lost after lawmakers barred them from transmitting Iranian programming.

Qantas Carves Out Long-Haul Unit

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Qantas Airways laid the groundwork for a deep-pocketed foreign investor to take a stake in its international business after booking a record loss.

Argentina's Low Foreign Reserves Hit Peso

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Argentina's international reserves are starting to dwindle in the wake of the country's second sovereign-debt default in almost 13 years, putting added stress on the peso and an economy believed to be in recession.

Nike's Tennis Match: Roger Federer and Michael Jordan

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Nike arranged for former Chicago Bulls star Michael Jordan to attend Tuesday's match as part of a promotion for Roger Federer's new line of shoes.

M&T-Hudson City Merger Still Stalled After Two Years

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Two years ago, M&T Bank Corp. announced a $3.7 billion deal to buy Hudson City Bancorp. But regulators at the Federal Reserve have held up the deal ever since, a move that is widely seen as having helped chill the merger market for banks.

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