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U.S. China News 2012.07.23

Mon, July 23, 2012

China’s Oil Hunger Hits $15 Billion in Canada Amid U.S. Diet Deals
TheStreet.com
After failing to buy Californian driller Unocal for nearly $20 billion in 2005, CNOOC(CEO), the Chinese state-backed oil giant, has agreed to buy Canada’s Nexen(NXY) for $15.1 billion in the largest-ever Chinese acquisition of a foreign energy company.
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US, China begin annual human rights dialogue
Washington Post
By Associated Press, AP. WASHINGTON — U.S. and China are holding their annual human rights dialogue that allows Washington to raise thorny issues but also demonstrates its limited leverage with Beijing. The two days of closed-door talks between senior
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China, US to battle it out for top position in London
Zee News
Beijing Olympic eight-time winner Michael Phelps is surely the one to watch in a star-studded U.S. swimming squad that clinched 16 gold medals, six silvers and nine bronzes in the Shanghai swimming world championships last year when host China finished
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China Seen Cutting US Corn Imports on Higher Prices
Businessweek
China, the world’s second-biggest corn user, may import fewer shipments from the U.S. than forecast due to rising costs since the worst drought in decades hit the top grower, a state-owned researcher in the Asian country said. Imports in the year beginning
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The End of Chinese Manufacturing and Rebirth of US Industry
Forbes
There is great concern about China’s real-estate and infrastructure bubbles. But these are just short-term challenges that China may be able to spend its way out of. The real threat to China’s economy is bigger and longer term: its manufacturing bubble.
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US Futures Edge Lower Amid Fresh Europe, China Worries
MarketWatch
U.S. stock market futures lowered about 1 percent lower early Monday amid renewed fears of recession and Greek’s insolvency as well as a growth slowdown in China. Flight to safety trades are on, and risky assets are being sold off globally. The 10-year U.S.
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WSJ BLOG/Deal Journal: Deals of the Day: Cnooc Reveals Big Deal for Nexen
Businessweek (blog)
Deals of the Day compiles this morning’s biggest news about mergers and acquisitions, banking, bankruptcy and more. Catch us on Twitter, @ WSJDealJournal. Cnooc: China’s Cnooc unveiled what would be Beijing’s biggest deal yet for energy resources
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CNOOC’S Nexen Deal Shows How Obama Pushed Canada Toward China
Forbes
Chinese influence in Canada has become very strong in recent years, impacting everything from the residential real estate markets in Toronto and Vancouver, to the rich Alberta oil patch, where Chinese investment has been higher than American investment
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CNOOC to buy Nexen for $15.1 billion in China’s largest foreign deal
Chicago Tribune
HONG KONG/CALGARY (Reuters) – State-controlled CNOOC Ltd launched China’s richest foreign takeover bid yet on Monday by agreeing to buy Canadian oil producer Nexen Inc for $15.1 billion, forcing Ottawa to decide whether national security concerns
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Dramatic Decoupling Of U.S. Stocks From Global Equities To End
Seeking Alpha
US investors have “gotten sick” of hearing about the European crisis and a possible hard landing in China. US investors have been constantly bombarded with warnings about these global threats for a year or more. Yet European economic growth is merely
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China and India help us dig in
The Australian (blog)
RUMOURS about the end of the mining boom are greatly exaggerated. Much reaction to yesterday’s regular business outlook report from Deloitte Access Economics has focused on the potential short-term impact of lower minerals prices on the forecast
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Philippines refuses to budge on South China Sea row
Reuters
“It’s not right to give away what is rightfully ours. And so I ask for solidarity from our people regarding this issue. Let us speak with one voice.” The South China Sea has become Asia’s biggest potential military flashpoint as Beijing’s sovereignty claim over the
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Nexen to be acquired by China’s CNOOC for US$15.1 billion in cash
Winnipeg Free Press
CALGARY – China National Offshore Oil Co. has agreed to buy one of Canada’s largest oil companies, Nexen Inc. for US$15.1 billion in cash, with the intention of making Calgary the headquarters of its Western Hemisphere operations. “We are in Canada to
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China to Investigate US Polysilicon Imports
Environmental Leader
China’s Ministry of Commerce said it would open anti-dumping and anti-subsidy probes on US imported polysilicon as well as an anti-dumping investigation on South Korean imports of the raw materials used to make solar products, Reuters reported. Officials
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CNOOC Adopts Canada Do Attitude
Wall Street Journal
And CNOOC’s $15.1 billion bid for Nexen of Canada, announced Monday, would be the biggest-ever overseas acquisition by a Chinese oil company. Moreover, it is haunted by the ghost of CNOOC’s failed bid for U.S. major Unocal, derailed by Washington in
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Nexen to be acquired by China’s CNOOC for US$15.1 billion
CTV News
CALGARY — Oil and gas producer Nexen Inc. (TSX:NXY) has agreed to be acquired by China National Offshore Oil Company for US$15.1 billion cash. The Calgary-based firm will be purchased by CNOOC Ltd. in an all-cash transaction worth $27.50 per
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China oil giant buys into North America
CNN
Canada’s Nexen, with offshore operations in the U.S. and U.K., has agreed to be acquired by China’s CNOOC for $15.1 billion. NEW YORK (CNNMoney) — A major Chinese oil producer expanded its footprint in North America’s energy market with a $15.1
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NYMEX-US crude eases toward $91 on euro debt crisis
Reuters
Greece is in a “Great Depression” similar to the United States in the 1930s, Antonis Samaras, the country’s prime minister, told former U.S. President Bill Clinton on Sunday. * Iran’s top oil buyer, China, will load full contracted volumes of Iranian oil in July after
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Julius Baer clinches China deal to tap wealthy clients
Reuters
ZURICH (Reuters) – Julius Baer struck a deal with Bank of China to tap new business and has won new money from clients of rival private banks, as it seeks to bulk up to counter slowing growth in offshore Swiss banking under attack from tax authorities.
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U.S. Stock-Index Futures Fall on Growing Greek Default Concern
San Francisco Chronicle
July 23 (Bloomberg) — U.S. stock futures declined, indicating the Standard & Poor’s 500 Index may fall for a second day, as concern grew that Greece won’t fulfill its bailout commitments and a Chinese policy maker warned of cooling growth. Bank of America
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Why Cnooc’s $19.5 Billion Offer For Nexen Is A Done Deal
Forbes
China National Offshore Oil Corporation (Photo credit: Wikipedia). If Cnooc succeeds in its $19.5 billion takeover of Canada’s Nexen, it will vault China’s oil giant into the lead among state-controlled oil companies grabbing North American oil and gas assets.
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Rough road for American economy likely will continue
Statesman Journal
Even if Congress and the president extend the Bush tax cuts, any hiccup in Europe or China could throw the U.S. economy into a recession — and the world’s biggest economy could hit the skids on its own. Having failed to adequately address what caused
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Sinopec pays $1.5 billion for Talisman North Sea Stake
Reuters
It was the second major investment in a Canadian oil explorer by a Chinese company announced on Monday, after CNOOC Ltd (0883.HK) agreed to buy Nexen Inc (NXY.TO) for $15.1 billion. That was China’s largest offer for a foreign oil producer since U.S.
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China Tries Again With Big North American Energy Buy of Nexen (NYSE:NXY)
Oakshire Financial
Cnooc is offering $15.1 billion in cash to buy Canadian oil sands giant Nexen (NYSE:NXY) – a deal that may test nationalist sentiment throughout North America. It’s the largest attempted buy of a North American energy company since Cnooc tried an $18.5
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Talk Back Poll: U.S. Olympic Uniforms Made in China?
Patch.com
article[new_asset_attachment_attributes][user_id]. new_asset_attachment_attributes. Lawmakers from both sides of the aisle recently criticized the United States Olympic Committee for outfitting the United States team in Ralph Lauren uniforms made in China.
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Oil price falls on renewed concerns about Europe
U.S. News & World Report
As Europe struggles, its demand for manufactured goods from the U.S. and China will likely decline. China, the world’s second biggest oil consumer behind the U.S., already foresees slower economic growth in the third quarter. And the U.S. economy is still
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Chinese oil company to buy Canadian oil firm for US$15.1bn
Taipei Times
Chinese state-owned oil and gas giant CNOOC Ltd (中國海洋石油) will buy Canadian oil company Nexen for US$15.1 billion, the two companies announced yesterday. They said in a statement that CNOOC, which is China’s biggest offshore oil and gas
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New US unit reviewing trade barriers in about 6 nations
Reuters
WASHINGTON | Mon Jul 23, 2012 12:22pm EDT. WASHINGTON (Reuters) – President Barack Obama’s new trade enforcement unit is initially looking at obstacles to U.S. exports in about six countries, including China, a top U.S. trade official said on Monday.
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China’s CNOOC to buy Nexen for $15.1-billion
Financial Post
CALGARY – Chinese oil company CNOOC Ltd. is confident its US$15.1-billion bid for Nexen Inc. provides a “net benefit” to Canada because the deal helps accelerate resource development and increases job creation, making it aligned with Canadian
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China’s CNOOC to buy Canada’s Nexen for US$15.1b
Channel News Asia
Business News. China’s CNOOC to buy Canada’s Nexen for US$15.1b. Posted: 23 July 2012 2154 hrs. A jointly-owned CNOOC and Royal Dutch Shell petrochemical plant in Daya Bay, southern. Photos, of. CALGARY, Canada: Chinese state-owned oil and
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WTO to Investigate Chinese Curbs on Rare-Earth Exports
Businessweek
World Trade Organization judges will probe China’s export quotas and tariffs on rare earths, tungsten and molybdenum following complaints by the U.S., the European Union and Japan that the curbs break global commerce rules. China says the limits are
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United Asean Stands or Divided It Falls to China, US
Jakarta Globe
Even though Asean finally managed to come out with a joint statement following its regional summit last week, a fickle unity will continue to undermine the grouping as long as it fails to address domestic problems in each of its member states, observers have
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Chinese CNOOC launches 15.1 billion U.S. bid for Nexen
DigitalJournal.com
Calgary – Calgary-based oil producer Nexen approved a takeover bid of $15.1 billion U.S. by Chinese state-owned oil producer CNOOC Ltd. The price per share would be $27.50 a full two thirds higher than the average price over the last twenty days.
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The Possibility of Fewer Shootings?
The Atlantic
Fallows has been a finalist for the National Magazine Award five times and has won once; he has also won the American Book Award for nonfiction and a N.Y. Emmy award for the documentary series Doing Business in China. He was the founding chairman
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China’s Stocks Fall to Lowest Since 2009 on Slowdown Concerns
Businessweek
China’s stocks fell, dragging the benchmark index down to the lowest level since March 2009, after a central bank adviser said economic growth will slow this quarter and as Europe’s crisis worsened the outlook for exports. Jiangxi Copper Co. (600362) and
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US Olympic team could be lifted by decathletes – Norman Chad
Plain Dealer
China had the most gold meda ls in 2008 and probably will eclipse the United States this time around in total medals. 2. While our days of world dominance are over, there is one area in which America again might be the top dog — the decathlon! Best I can
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Asian stock markets slide on Europe, China woes
U.S. News & World Report
By PAN PYLAS, Associated Press. LONDON (AP) — Stocks took a battering while the euro slid to a two-year low against the dollar on Monday as fears over Europe’s debt crisis returned to haunt markets. Spain is the epicenter of the current bout of fears, with
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Region needs US to counter rising Chinese
The Canberra Times
Australia’s decision to station up to 2500 US Marines in Darwin on a rotating basis was perceived by Beijing as complicity in a US attempt to contain China. Cui Tiankai, China’s Vice Foreign Minister, recently launched thinly veiled criticisms at Australia’s
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Danny Chen Death: NYC Chinese-Americans Decry Hazing Of Army Private In
Huffington Post
Organization of Chinese Americans, center, speaks at a news conference while the parents of Pvt. Danny Chen, Yan Tao Chen, left, and Su Zhen Chen listen in New York, Wednesday, Dec. 21, 2011. Eight U.S. soldiers have been charged over the October
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