Word: stockings
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...property ownership. Pushed through despite objections from old-line conservatives, the law for the first time gave equal weight to both state- and private-ownership rights. But a look at the fine print shows that the law only protects things dear to the rising middle class: real estate, cars, stock-market assets. Farmers, on the other hand, will still be unable to purchase their land and instead will be forced to lease plots from the government...
...Temasek - which will invest an initial $1.9 billion - CDB will fork over $3 billion for a stake in Barclays, the British bank now locked in a struggle with a consortium led by Royal Bank of Scotland (RBS) to acquire Amsterdam-based ABN Amro. If Barclays' $94 billion cash-and-stock bid prevails against RBS's $98 billion offer, CDB will boost its stake in Barclays to $13.5 billion, making it by far the biggest Chinese offshore investment ever...
...founded Airline Ambassadors to expand on relief work she began as a flight attendant for American Airlines, volunteers helped 150 families acquire land and rebuild homes devastated by earthquakes. They were scheduled to open a vocational-training center near those homes during the last week of July and stock it with sewing machines carried to hilly El Salvador in volunteers' suitcases. "We're creating a way to empower local people," Rivard says...
...Both Asian investors will become major investors in the British bank. If Barclays is successful, the state-owned CDB would own up to around 8% of Barclays' stock. Its investment is "by far the biggest external investment ever made by China," Barclays CEO John Varley crowed Monday. "And it's very good for Barclays...
...kidding. With the extra cash to spend, Barclays increased its bid for ABN Monday to just over $93 billion, with over a third of it offered in cash. That's more than its previous approach - the all-stock bid, agreed with ABN back in April, was worth around $90 billion - but still falls short of the $98 billion offered last week by a consortium of European banks led by Royal Bank of Scotland. That bid, backed by Spain's Santander and Belgian-Dutch group Fortis, is almost all in cash...