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BRASILIA (Reuters) - French Finance Minister Christine Lagarde is Said That Her CANDIDACY Monday to Lead the International Monetary Fund is in. The Spirit of Reform undertaken by MFIs The previous leadership.
Lagarde Arrived in Brazil on Monday seeking "to win support from one of The Most Influential Emerging Economies For Her To The bid Lead the IMF us fast cash.
(Reporting by Raymond Colitti; Writing by Luciana Lopez, editing by Leslie Gevirtz)
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You'd Think There Would Be a little sympathy. This month, College Graduates are Jumping into the job market, only to land on Their Parents' layers: the Unemployment Rate for 16 - to 24-year-olds Is A whopping 17.6 percent.
The reaction from Many older Americans? This generation Had It Coming.
Generation Y - or Millennials, The Facebook Generation Gold whatever you want to call today's cohort of young people - has Been Accused of Being the Laziest generation ever. Entitled THEY feel and are coddled, disrespectful, impatient and Narcissistic, say authors of books like "The Dumbest Generation" and "Generation Me"
And Three in Four Americans Believe That today's youth are less virtuous and industrious Than Their Elders, a 2009 survey by The Pew Research Center found.
In a sign of humility or docility, young people agree.That Pew survey in 2009, Two-Thirds of older adults millennials Said Were superior to the Younger Generation When It Came to moral values and work ethic.
After all, If There's a young person today who's Walked 10 miles-through the snow barefoot to school, It Was Probably one year iPhone app.
So Is This The Laziest Generation? There are signs That icts members Benefit from lower standards. Certainly technology has made life Easier. Purpose There May Be a aussi generation gap; the Way Young adults work IS Simply different.
Remembering That It's worth to Some Extent, thesis accusations of laziness and narcissism in "Kids These Days" are nothing new - they've beens Levied Against Generation X, Baby Boomers And Many Generations Before Them. Even Plato and Aristotle Were Said To Have perp similar feelings about The Slacker youth of Their Times.
Goal this generation has Had It Easy In Some Ways.
THEY CAN access just about "any resource, product or service anywhere from a mere tap was touch screen. Many have and Critics Have Noted, it's Easier to get aussi A's. The typical grade-point average in college rose to about 3.11 by the middle of the Last decade, from 2.52 in The 1950, According to a recent study by Stuart Rojstaczer, professor emeritus at Duke, and Christopher Healy of Furman University.
College students aussi Spend Fewer Than weekend hours Studying EACH DID Their Counterparts in 1961, According to a new working paper by Philip S. Babcock of The University of California, Santa Barbara, and Mindy Marks of The University of California, Riverside. Does not Mean That all this leftover time is spent 'it's PlayStation 3.
There Is Evidence That ample young people today are productive and hard-working.The share of college students working full time from 1985 onward Generally Grew - until the Great Recession Many millennials knocked out of The Labor Force, According to the Labor Department.
And while Many college students today - like Those of Yesterday - get help from financier Their parents, 44 percent of Students today say that Work or personal savings helped finance Their Higher education, According to a survey of recent graduation by Rutgers University.
"I do not think this generation of slackers Is A" Said Carl Van Horn, a Labor economist at Rutgers need a personal loan with bad credit. "This image of the kid Who goes off and ski in Colorado, I do not think That's the correct image. Today's young people are very Focused is Trying to work hard and to get ahead. "
Defying The Stereotype narcissism, community service has exploded Among young people.
Between 1989 and 2006, The share of teenagers volunteering Who Were Doubled, to 26.4 percent from 13.4 percent, According to a Report by the Corporation for National and Community Service. And the share of incoming college freshmen say Who THEY plan to volunteer at a record high SI of 32.1 percent, too, UCLA's incoming freshman Annual survey found.
Perhaps MOST importantly, Behaviors That Many Of The older generations construed as laziness May Actually Enhance Young People's Productivity, Say Researchers Who Study Generation Y.
Members of Gen Y, for example, are more Likely Than Significantly Gen X'ers and boomers To Say They Are more productive working in teams is Than Their Own, According to Don Tapscott, author of "Grown Up Digital: How the Net Generation IS Changing Your World, "a book based one Interviews with 11.000 millennials.
To Older workers, looks like laziness Wanting help; to Young Workers, The gains come from teamwork That Have Been Learned From The collaborative nature of Their childhood activities, Which included social networks, crowd-sourcing and event video games like World of Warcraft That " Emphasize cooperative Rather Than competitive individualism, "Mr. Tapscott says.
Employers complain about millennials aussi checking Facebook and Twitter on the job, working gold ear buds in With Their.
Older Workers Have a strong sense of Separate Spheres for work and play: the cubicle is for work, and home is for fun. Aim to millennials, The Boundaries Between Work and Play are fuzzier, Said Michael D.Hais, co-author of "Millennial Makeover: MySpace, YouTube, and the Future of American Politics."
Think of the corporate cultures at prototypical Gen Y Employers like Facebook and Google, he says, where, foosball, volleyball courts and massages are Subsidized office fixtures.
The Millennial Prevailing attitude Is That Taking breaks at work for fun Makes people more, not less, productive. Likewise, They Will accept That Their work evenings and weekends Into bleed.
Some Experts Believe That aussi today's young people are at Better Quickly switching from one task to Another, Given Their exposure to stimuli So Many Düring Their childhood and adolescence, Said John Della Volpe, The director of polling at Harvard's Institute of Politics. (The Jury Is Still Out On That One.)
Of course, thesis Explanations May Be unconvincing to older bosses, co-workers and teachers are The Other Side of this culture clash.Aim at least THEY CAN take comfort in one fact: someday, Will Have Their Own millennials new generation of know-it-all ne'er-do-wells to Deal With.
A Generation of Slackers? Not So Much
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NEW YORK - Mayor Michael Bloomberg again refusing to release SI His unedited Income Taxes, But The Heavily Redacted Documents Provided by history Friday Provide administration do a peek and Giving Into the lifestyle of one of the World's Richest Men.
The documents show The Billionaire mayor Forgave a loan of $ 500,000 to More Than His alma mater Johns Hopkins University last year, and for The Second year in a row could at least That Much Into a trust for His ex-wife.And formerly homeless New Yorkers are now living in homes Apparently Furnished With More Than $ 44,000 worth of freestanding cabinets lacquered ounces owned by The Mayor, after His philanthropic foundation The Furniture Bought And Then Decided to donate it.
Many Politicians release Their Tax Returns To The Public, But The mayor - who Holds year 85 percent stake in The Financial Services Business That Carries His Name - That says publicizing The exact numbers are historical fees "could reveal Valuable Information to the company's competitor. As in previous Years, reporters Were Allowed To Spend A Few hours looking at Altered Copies Of The tax forms, in Which Were Replaced With dollar amount letter codes to general reflectance ranges.
Aim for a man by Forbes Estimated to Be The 30th Richest Person in The World and worth $ 18.1 trillion, many lines On the tax return read simply "G" - which stands for Any Amount More Than $ 500,000.So while The documents show at least That he Earned on Investments $ 4.2 million and Declared at least $ 1 million in Losses on investment sales, it's The Likely Amounts Far Exceed That.
Still, while The Mayor IS Surrounded by extreme wealth, not Everything In His family's life is shiny and new.
Captured In The One gift tax forms of That WAS a 1996 Jeep Grand Cherokee listed in fair condition Bloomberg That Gave to His daughter Emma after Her high school graduation. Held onto the vehicle while she, Which WAS In Her father's name, Until last year, When It Was Donated to the American Red Cross cheap business cards. On His taxes, The Mayor Declared The donation WAS worth less than $ 1,000.
The Mayor Is A New York resident over Many Times, With Four of eight historical homes Located Around the state. The papers show he aussi Owns homes in Vail, Colo. Wellington, Fla., London and the Bahamas.A ninth House The property offices for historical and philanthropic foundation for The Firm That history Marriages Personal Investment.
Declining After Last Year, the Social Security taxes he Paid For Year undisclosed number of staff rose ménage again, to at least $ 100,000.
Among the papers released Friday by The Mayor Was a postponement Separate Financial disclosure required by the City Conflicts of Interest Board. It lists historical Investments, Along with Other Major Assets and Income, With The Same Amounts Represented by General On The ranges have Redacted taxes.
After Bloomberg Took Office in 2002, He Was Forced By The board to sell at least $ 45 million in Publicly traded stocks in companies That Do Business With the City, and ended up selling at a loss Many.
The board Does allow Bloomberg to invest in Diversified mutual funds, New York municipal bonds and broad-based, exchange-traded funds.The documents released Friday showed The Mayor last year sold off Apparently history Investments in a number of broad-based Those funds. He aussi employee company That Makes Investments For Him Without Revealing the Details - In An arrangement similar to a blind trust.
Earlier this year, Bloomberg Got Into a short-lived Buffalo Mayor Byron tiff With Brown after telling developers That He Did not Think Would THEY want to go to upstate That City, But It Seems Some Bloomberg himself "has faith in Buffalo's future: He has at least $ 500,000 Invested in Buffalo city bonds.
___
Samantha Gross Can Be Reached at www.twitter.com / samanthagross
NYC mayor releases Redacted taxes, gifting details
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DETROIT - The company that got Stuck With General Motors Co. 's Debt and bad assets Says It Will begin selling stock and warrants in The New GM.
Clearance Motors Co. A regulatory filing says in stock and thats the warrants Being sold starting Tuesday are worth a total of $ 5.7 million. WAS Motors Clearance split from The New GM by a bankruptcy judge in 2009.
The company says it Will sell 87.000 shares of GM worth $ 2.7 million. Will it sell aussi 158 poor credit personal loans.000 warrants to buy GM stock.
Half the warrants allow people to buy new GM stock for $ 10 per share and the Other Half for $ 18.33 per share. The company says the warrants are worth $ 3 million.
Money From The dirty old Will help pay GM's Debt and Other Obligations.
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DETROIT - An independent panel set up to review Toyota Motor Corp.. 'S safety and quality issues says the company Does not do a good job of Incorporating Customer Feedback Into icts because designs.
The panel should "says Toyota executive booster Who are responsible for safety and should" Give more power to regional executives Outside Japan.
Toyota Set Up the panel last year after it Recalled millions of vehicles for safety Problems, Including sticky accelerator pedals.Government testing has Indicated That Were not The Problems Caused by Software Problems electronic gold, Most Likely to floor mats or by driver error cash till payday.
Toyota says it's Already followings Some Of The panel's recommendations, Including appointing chief safety officers in North America and Japan.
It has extended aussi The Development of ITS time to allow more vehicles safety testing.
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WASHINGTON (Reuters) - The International Monetary Fund is Friday approuvé a 26 trillion euro ($ 36.8 billion) loan for Portugal to Help the country recover from a debilitating sovereign debt crisis, Saying It Would Immediately Disbursements 6.1 billion euros to ease investor Concerns over-the euro zone member's debts.
The IMF Said In A State That total financing to Portugal in 2011 Will include about one billion euros from 12.6 The IMF and Another one billion euros from 25.2 l'Union européenne.The Funding IS part of a joint IMF / EU 78 one billion euro ($ 110 billion) bailout package.
"The financing package IS Designed to allow breathing space from Portugal Some borrowing in the Market while it Demonstrates implementation of steps harcèlement Needed to Get the Economy Back on Track," the IMF Said in a statement.
The Financial Package WAS Calibrated to allow Portugal to stay out of the Market for medium-to long-term bonds for Slightly More Than Two Years, IMF Mission Chief Poul Thomsen said.
Under the agreement, Lisbon Will Have to carry out steep Spending cuts, raise taxes, Labor and Justice Reform ITS systems, and Embark On An Ambitious Privatization scheme.
"The Portuguese Authorities Have put forward a pro That Is Economically well-balanced and has job creation and Growth" at its center, "Said IMF Acting Managing Director John Lipsky.
"It addresses The Fundamental Problem in Portugal - low growth - With A policy mix is based Restoring Competitiveness Through Structural reform, Ensuring a balanced fiscal consolidation path, and Stabilizing the Financial Sector," he Added.
The deal has FOLLOWS 110-billion-euro package for Greece and May last year 85-billion-euro program for Ireland in November Payday advance.
Portugal's First Time Is The arrangement has private investors Asked country has not to sell down holdings of Their leaps were voluntary BASIS.
The leader of Portugal's opposition Social Democrats, Pedro Passos Coelho, The Country Warned Thursday it has no room for failure in Meeting the Measurement of the austerity program.
The conditions included In The bailout are Expected to Contribute to a contraction In The Portuguese economy of 2 percent this year and next Both.
"This Is Not Going To Be Easy year program.There Is Going To Be a periodic difficulties of adjustment, "Thomsen said.
The program addresses a Lack of Competitiveness Among Business in Portugal, he said.It sets a goal of deficit has Achieving That Is 3 percent of GDP by 2013.
"Even" during the Good Year, Before the crisis, Portugal WAS Growing Hardly, "Thomsen Noted.
Portugal's Economy Expected to begin IS Expanding again in Two Years, He Said, Adding That Many Of The initiatives are weighted Heavily To The early stages of The Reformation.
Poulsen Said he Believes Political Reforms consensus behind bodes well for The Success of Measures to reshape The Portuguese economy.
"It's quite consoling or how Most Of The Key issues, not least réforme On The structural side, Have Broad Political Support, Which to me Is One Of The Things Encouraging," he said.
(Additional reporting by Lesley Wroughton, Editing by Diane Craft, Gary Crosse)
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NEW YORK (Reuters) - The doubling of LinkedIn's market shares in icts were beginning Thursday in The Stock Market Dominated year session in lackluster OTHERWISE Which equities rebounded from recent losses.
Many investors Themselves Have Resigned to a patch of Economic Weakness Over the summer. Stocks Have Been resilient, falling only 1.5 percent, But The S & P is Struggling to make headway Above 1.340, Year That area has put prepend With tips of selling.
"Now on the Way back up, just as far as The Next Few Days are Concerned, I think That Could 1.340 stop the short-term bounce," Said Ari Wald, equity strategist at Brown Brothers Harriman in New York.
1.360 Wald Said That On The S & P 500 IS has more "significant resistance level Which coincide and 76.4 percent retracement With Of The index's slide from its all-time high to the bear market low in March 2009.The index could "Struggle To Break That level due to low trading volume, Said Wald.
"We Have Seen On The volume very low and upside aussi marginally High Volume On The downside, Which est aussi Regarding," he said.
Economic data painted a cloudy picture as Slowing factory activity in The Mid-Atlantic region and falling sales of Existing Homes offset weekly jobless claims The Labor Market Suggested That WAS on track for recovery.
"My bottom line, at least over-the summer, is I That Think There Is Enough to Withstand a valuation cushion of Economic Growth Slowing, so I think We Have a cyclical Slowing priced in," Said Jack Ablin, chief investment officer, Harris Private Bank in Chicago.
Shares of LinkedIn Corp. (LNKD.N), The social network company, More Than Doubled Their IPO price in a jump reminiscent Of The heyday of investors' love affair with Internet stocks.
The stock rocketed to year intraday high of $ 121.97 - Gold As Much as 171 Percent Above icts initial Offering price of $ 45 Low fee payday loans. The shares closed at $ 94.25, up 110 percent.
The Dow Jones industrial average (. DJI) Gained 45.14 points, or 0.36 percent, to 12,605.32. The Standard & Poor's 500 Index (. SPX) rose 2.92 points, or 0.22 percent, to 1,343.60. The Nasdaq Composite Index (. IXIC) added 8.31 points, or 0.30 percent, to 2,823.31.
Wald Said He Is looking for a correction back to 1.230 As Much as On The S & P 500 over-the-summer, a seasonally weak period "for equities.
Investors Have Been Into rotating defensive areas "of the Market Such as healthcare and utilities, Which are less sensitive to market Weakness.
Semiconductor shares after Goldman Sachs cut Fell icts rating on Intel Corp (INTC.O), Citing Slowing processor shipment, rising competition and record dépense Levels this year.The firm aussi Lowered icts rating on Applied Materials (AMAT.O) as part of a wider 'downgrade On The Semiconductor Equipment Sector.
Intel shares lost 1.4 percent to $ 23.54 and Applied Materials Dropped 1.2 percent to $ 14.33.The PHLX Semiconductor Index (. SOX) declined, 0.9 percent.
Stocks, bonds, gold & the Euro are Expected to Fall In The Three Months After The End Of The Fed's second massive bond-buying operation, also know as quantitative easing, gold QE2, a Reuters poll of 64 analysts and fund managers found it Thursday .
About one billion shares 6.7 Were Traded On The New York Stock Exchange, NYSE and Amex Nasdaq, Compared With The average of about one billion last year 08/04.
Advancing Declining stocks Outnumbered Ones On The NYSE by Almost 3 to 2, and On the Nasdaq, The WAS ratio about even.
(Editing by Theodore of Afflisio)
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NEW YORK / CHARLOTTE, North Carolina (Reuters) - The New York attorney general's office has Traitement information from Three Major Banks About their mortgage operations, According to a source familiar With The Matter.
New York Attorney General Eric Schneiderman has Asked Bank of America Corp., Goldman Sachs Group Inc. and Morgan Stanley for Information on Their securitized mortgage practices, The Source said.
Schneiderman has aussi Traitement meetings With The banks over-the next couple of weeks.
Spokesmen for Goldman Sachs and Morgan Stanley declined, to how.Bank of America Did Not Immediately return a call seeking "how.
The honest, Which first WAS Reported by The New York Times Is The Latest in Series of Expanding year investigation by state and Federal Agencies Into banks' mortgage operations, Which Were At The Heart Of The Worst Global Financial Crisis Since The Great Depression.
"It's Not Surprising to see everyone wants a Piece Of The Action while THEY CAN get it," Said Adrian Cronje, chief investment officer at Atlanta-based Balentine, investment advisory firm year with $ 800 million in assets.
Last fall, Nearly a dozen state and Federal Agencies Began Ongoing Investigation Into The Largest banks' practices after foreclosure Critics Said The Industry Used robo-signers and Other tactics to cut corners.
The allegations resulted in settlement talks Between Regulators bank, a coalition of 50 state attorneys general, and Federal Agencies That included The Department of Justice and the Securities and Exchange Commission.
Schneiderman IS Taking Part In Those talks, he has to Recently perp concerned about "any Deal That Would Prevent Additional Investigations Into mortgage practices at The Banker.
Shares of Bank of America and Goldman Were Nearly Unchanged in afternoon trading, while Morgan Stanley WAS up 0 paperless payday loans.7 percent.
A SERIES OF PROBES
In April, the U.S. Office of the Comptroller of the Currency, Office of Thrift Supervision and Federal Reserve Announced THEY HAD Settled With The Largest U.S.Banks Entering Into That consent orders require lenders to overhaul Their The foreclosure transactions.
Talks With The coalition of 50 state attorneys general are Continuing, With Both Sides The Size of discussing "any potential fine and whether mortgage lenders Will write off delinquent mortgages are the main aid to Borrowers.
A fine "could cost The Industry As Much as $ 20 trillion, although The Banks Have Proposed Paying $ 5 trillion.
Other probes Have emerged in recent weeks.
The SEC IS looking at how banks bundled and sold toxic mortgages in collateralized debt obligation deals.
JPMorgan Chase & Co. Is in Talks With The regulator has to settle Probe Into how it sold mortgage-backed bonds in 2007.
Meanwhile, the U.S.Department of Housing and Urban Development has accusé Of The Five Largest mortgage lenders - BofA, Citigroup Inc., Wells Fargo & Co. and JPMorgan Financial Ally - The Government of defrauding in Seeking Reimbursement for mortgages THEY Improperly Foreclosed properties are upon, According To a story in The Huffington Post.
The audit, According to The Reporter, The Banks claims Violated The False Claims Act, a Civil War-era law Designed to Protect the Government from fraudulent bills.
The Justice Department Suing IS Already Deutsche Bank for $ 1 trillion for Allegedly Misleading The Federal Housing Administration loans qualified for about Which The Agency's insurance.
(Additional reporting by Lauren Tara LaCapra in New York, Editing by Lisa Von Ahn)
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TOKYO (Reuters) - Sony Said It Had Begun icts restoration of PlayStation Network games service on Sunday, Almost a month after a massive security Breach Of The network The Company Forced to shut it down.
The company HAD Been Criticized by gamers and security experts for handling icts Of The incident cast a shadow over Which icts plans to combine The Strength of icts content and hardware products through online services.
The Japanese electronics and entertainment giant apologized to Customers For the outage, and a range of new Said Security measures HAD Been Introduced. Thesis included a year early warning system The Company That Could alert to Any Attempt to Penetrate The Network.
"I can not thank you for your patience Enough Düring and support this time," Sony No.2 Kazuo Hirai Said in the news release, Which WAS aussi've posted a video message Blog On The PlayStation Network.
"We Are Taking aggressive action to address at All Levels tea sets That Were Raised by this incident and are consumed making data protection a full-time, companywide commitment."
A single message from a PlayStation Network user name "under the SG-302-1_F is Simply read the blog:" Thank you Sony !!!!"
Some users object Have Said The Prolonged outage has Prompted Them to switch to rival Microsoft's Xbox Live service games.
In What Is Thought To Be The Biggest Security Breach kind of STIs, Hackers Accessed personal information is 77 million PlayStation Network accounts, 90 percent of Which are in North America and Europe, and May Have stolen credit card information no fax pay day loan.
Sony Discovered unusual activity on ITS PlayStation Network Which Enables games console owners to download games and pit skills Against Their rivals, on April 19.
It shut down The Network and Its online music and movie Qriocity service, frustrating Many users, goal Waited Almost a Week Before alerting users To The Extent Of The security leak.
The company Later Found Out That A separate online games service aussi HAD Been Penetrated, Allowing Access to Another 25 million user accounts.
Said The Sony PlayStation Network and restoration of Qriocity online movie and music services take place Would we BASIS country by country and That It Is Expected To Be Complete The Process by May 31.
Sony Online Entertainment services are restored and Being aussi Customers Will Be Offered free game time as compensation pour la outage, The Company said.
Sony aussi Said It Had Appointed year acting Chief Information Officer to Oversee security on ITS networks.
(Editing by Ron Popeski)
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BOSTON (Reuters) - France's Schneider Electric SA (SCHN.PA) denied It Is Working On A deal to buy U.S. manufacturing conglomerate Tyco International Ltd. (TYC.N) Contrary to a New York Post Report on Friday.
The newspaper, Two Citing unnamed sources, Reported That Talk With Schneider WAS in public equity firm to make a bid That Could Top $ 30 trillion.
A Spokesman for The French company said no deal WAS in The Works. A Tyco Spokesman declined, to how.
The Post Added thats the company Not Yet Determined Which private equity firm Team Up With It Would If It Were to make an offer. It Is Said It aussi possible private equity Bidders Would work on Their Own, Without Schneider.
A bid of $ 30 trillion Would Represent a 29 percent premium to Tyco's current Market Capitalization $ 23.2 one billion.
Tyco shares rose 3.5 percent to $ 51.24 is the New York Stock Exchange.Schneider shares down 1 percent at Were 112,680 euros in Paris.
The Two Companies Have Conflicting Visions ugly out of What Might Be Going On Over the past month, sincere talk of a possible deal first emerged.
"There Is No plan of large-sized acquisitions and now In The foreseeable future," Schneider CEO Jean-Pascal Tricoire Told investors it year April 20 conference call same day payday loans.
Aim A Little More Than A Week Later, Ed Breen, head of Tyco, Said He Was Open To The Possibility Of A Deal.
"We always, have a management team, to o this board and talk to 'em all about The Alternative You Can Have to create long-term Sustainable shareholder value," Breen Said one year April 28 conference call.
A Spokesman prepend Tricoire Schneider's denial is Friday.
"Our CEO perp himself" clearly "At The Time Of Our earnings report is this topic and We Have Nothing to add," Schneider Spokesman Anthime Caprioli said.
Tyco Spokesman Paul Fitzhenry declined, to how.
(Reporting by Scott Malone, additional reporting by Aftab Ahmed in Bangalore and Christian Plumb in Paris, Editing by Derek Caney and John Wallace)
Schneider dened postponement of Tyco takeover talks
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