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Rediff.com  » Business » PHOTOS: What rocked the world of business

PHOTOS: What rocked the world of business

Last updated on: May 20, 2011 14:37 IST

What rocked the world of business this week

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An NYPD prisoner movement slip for former IMF chief Dominique Strauss-Kahn is seen in this document.

Strauss-Kahn was granted bail by a New York court shortly after he was formally indicted on all sexual assault charges on Friday. A New York hotel maid has alleged that Strauss-Kahn tried to rape her.

The court agreed to free Strauss-Kahn from a New York City jail on bail terms of $1 million in cash and also on the condition that he would remain under house arrest in a Manhattan apartment under the watch of armed guards.

Strauss-Kahn is allowed to stay with his wife in the apartment.

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Photographs: Reuters
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Reid Garrett Hoffman (C), founder of Linkedin Inc, applauds with CEO Jeffrey Weiner (2nd R) from the bell balcony after the opening bell during the company's initial public offering at the New York Stock Exchange in New York on Thursday.

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Photographs: Reuters
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A Buddhist monk stands in front of a shop window as he waits for donations at a shopping district in Tokyo.

Japan's economy shrank 0.9 per cent in January-March from the previous quarter, marking a second straight quarter of contraction and confirming that the Asian giant has slipped into a recession.

Cabinet Office data showed that the March earthquake and tsunami and ensuing nuclear crisis weighed heavily on capital spending and private consumption in Japan.

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Photographs: Reuters
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A TV journalist tries a coffin during Asia Funeral Expo (AFE) in Hong Kong.

AFE, the key annual event for international funeral professionals for trade, education and information exchange, is joined by 130 exhibiting companies from around the world, organisers said.

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Photographs: Reuters
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A man rides a Hase E-Trike at the Challenge Bibendum sustainable mobility trade fair in Berlin.

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Photographs: Reuters
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Citigroup CEO Vikram Pandit speaks at the University of Pennsylvania's Wharton School MBA graduation ceremony at the Palestra, on the campus of the University of Pennsylvania, in Philadelphia.

Citigroup on Thursday said it has rewarded chief executive officer Vikram Pandit with an over $16 million 'retention award' for his 'outstanding job' of steering the financial giant to profitability and executing a strategy for sustainable growth.

Pandit has been taking home a token one dollar salary from Citigroup since 2009.

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Photographs: Reuters
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Galaxy Macau, the latest resort in Macau built by Galaxy Entertainment Group, is lit up in the evening after it opened for business on May 15.

Some of the world's biggest casino operators are betting that Chinese moms and pops who like to gamble and also want to shop and dine will turbocharge growth over the next few years at Macau, the world's biggest gambling destination.

Macau, located on the Southern tip of China and an hour away by ferry from Hong Kong, has so far relied heavily on China's young and wealthy for casino revenues, which totalled about $24 billion in 2010 -- well above what Las Vegas earned.

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Photographs: Reuters
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An activist from the Communist Party of India shouts slogans during a protest in New Delhi.

Dozens of CPI activists on Wednesday held a protest against price hikes in milk, petrol and toll tax, activists said.

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Photographs: Reuters
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Demonstrators gather at Madrid's famous landmark Puerta del Sol on May 19 during a protest against politicians, bankers and authorities' handling of the economic crisis.

The demonstrations began on May 15, when thousands of people gathered in several cities in Spain to demand what they called 'real democracy' and protesters have vowed to occupy central squares in several Spanish cities until the May 22 local elections.

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Photographs: Reuters
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Villagers hold placards during a protest in Orissa.

Dozens of villagers on Wednesday protested against what they say is India's approval of South Korean POSCO's plans to build a steel plant in Orissa.

POSCO signed an agreement with the Orissa state government in 2005, and it was scheduled to begin production by the end of 2011.

But protests, environmental worries and litigation over a related mining concession have delayed what is India's biggest foreign direct investment.

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Photographs: Reuters
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A demonstrator camps out at Madrid's famous landmark Puerta del Sol during a protest against the government's handling of the economic crisis.

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Photographs: Reuters
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A woman walks past an urban art sculpture at Sanlitun SOHO residential and commercial complex in Beijing.

China's economic growth could slow to 8 per cent, Goldman Sach's Jim O'Neill said as economic data and a drop in commodity prices point to Beijing ending its monetary tightening policy sometime this year.

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Photographs: Reuters
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The National Debt Clock, which displays the current United States gross national debt and each American family's share, hangs on a wall next to an office for the Internal Revenue Service near Times Square in New York.

The Treasury Department said the nation had hit its $14.294 trillion debt limit -- a milestone that has little practical impact beyond injecting a note of urgency into the debate over taxes and spending that has dominated Washington this year.

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Photographs: Reuters
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A man puts up newspapers for sale on the gate of a closed shop at a market in Abbottabad, where al Qaeda chief Osama bin Laden was hiding.

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A labourer builds components of wind turbines at a wind power equipment factory in Zouping, Shandong province.

With profitable wind and hydropower businesses included, overall power generation losses narrowed to 6 billion yuan, Xue Jing, director of the statistics and information department under the China Electricity Council, said on in Beijing.

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Photographs: Reuters
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An employee works inside an aluminium utensil manufacturing unit on the outskirts of Jammu.

India's industrial output in March rose a faster-than-expected 7.3 per cent from a year earlier, sharply higher than the median forecast for a 3.8 per cent annual rise in a  poll, government data showed on Thursday.

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Workers install a high voltage electricity pylon in Xuancheng, Anhui province.

China will raise the prices for electricity coal-fired generators sell to grid operators by 0.02 yuan per kilowatt hour in three provinces, state media reported on Wednesday, in an effort to encourage generators to increase supplies amid spreading shortages.

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Photographs: Reuters
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A woman lifts a child to look at a painted model of a cow in front of SEB bank branch in Europa business center in Vilnius.

Credit conditions in Latvia, Lithuania and Estonia have improved faster than many expected and both SEB and Swedbank have been able to recover some of the money they set aside to cover bad loans.

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Photographs: Reuters
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Fruit and vegetables are seen for sale in Soho's Berwick Street Market in central London.

British annual inflation hit a 2-1/2 year high last month and core prices rose at a record pace, but central bank governor Mervyn King warned that reacting too quickly to tackle rising prices could harm the economy.

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Brand manager Ewan MacIntosh pours a measure of whisky at the Diageo-owned Dalwhinnie Distillery in Dalwhinnie in the Scottish Highlands.

Scotch whisky is making huge inroads in developing nations such as India, China, Russia, Brazil and Mexico, as the growing middle classes turn away from local drinks such as vodka and rum.

Overall exports were up 10 per cent in 2010 with eight out of the industry's top 10 export markets growing and only Spain and Greece, beset by severe economic problems and austerity measures, showing a decline.

To keep up with demand, Scotland's whisky industry has poured 600 million pounds ($975.7 million) into expanding and building new distilleries over the last three years.

Long-forgotten still houses have been re-opened. Expansion is underway at a handful of big industrial grain whisky plants, bottling halls and cooperages, and also at some of the smaller 102 malt whisky distilleries scattered across the highlands and islands of Scotland.

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Photographs: Reuters
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The outside of the New York Stock Exchange is seen in New York.

NYSE shareholders are scheduled to vote on the Deutsche Boerse deal on July 7 under a timeline that NYSE says is designed to comply with German law on mergers and acquisitions.


Photographs: Reuters
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