Asian stock markets faltered Friday, dragged down by a sell-off in Tokyo as new data underlined the severity of Japan’s economic slump and quarterly reports from leading companies like Sony and Honda showed profits tumbling. Markets had logged some gains…

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Asian markets mixed on weak economy, earnings

SINGAPORE (Reuters) – Japan sank deeper into recession with industrial output tumbling and inflation slipping to almost zero, while U.S. data later on Friday was also expected to mirror the worsening financial crisis.

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Grim Japan, U.S. figures show world crisis deepening

Swiss drugmaker Roche, frustrated by stalled negotiations to purchase Bay Area biotech giant Genentech Inc., announced a hostile $42.1 billion takeover bid Friday that would net investors less than the $89 per share offer that Genentech rejected in August….

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Roche tries hostile takeover bid for Genentech

Wall Street ended its worst January ever by stumbling again over the banking system and the economy. The major indexes all fell sharply for the second straight day, with the Dow Jones industrial average and Standard & Poor’s 500 indexes setting record…

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Stocks down again, ending worst January ever

Despite a gloomy stock market, restaurant reservation service OpenTable filed for a $40 million initial public offering Friday. If successful, the IPO will be a rare bright spot amid one of the worst stretches in decades for newly traded companies. Investor…

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OpenTable files for $40 million IPO

Chevron Corp. rode 2008′s historic spike in oil prices to a record $23.93 billion annual profit, despite the petroleum market’s collapse in the second half of the year. Chevron’s profit report, released Friday, graphically illustrates just how high oil prices…

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Chevron’s annual profit soars to record

Waiting to go condo is San Francisco’s version of waiting for Godot. Building owners can spend years vying for one of 200 condo-conversion slots awarded annually via a lottery. But this year San Francisco is considering letting people skip the line, offering…

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Proposal: Pay fee, skip condo-conversion line

Turkey’s prime minister received a hero’s welcome home Friday after he reproached Israel’s president over the Gaza offensive and stalked off the stage at the World Economic Forum. Prime Minister Recep Tayyip Erdogan was greeted by a jubilant crowd of more…

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Turkish PM welcomed home after Gaza spat in Davos

ZURICH (Reuters) – Swiss drugmaker Roche Holding AG cut the price of its bid for outstanding shares in Genentech on Friday, confounding investor hopes of a sweetened offer for the 44 percent of the U.S. biotech company Roche does not already own.

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Roche cuts Genentech bid to $42 billion

TOKYO (Reuters) – Shares in Nintendo Co Ltd sank 12 percent after the Wii video game maker cut its earnings and game console sales forecasts, raising doubt over growth at a company that had previously defied the global financial crisis.

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Nintendo shares slide 12 percemt as crisis hits growth

Honda Motor Co. slashed its annual profit target by over half Friday as quarterly profit tumbled 90 percent, hit by rising costs, a stronger yen and falling sales in key markets. Japan’s No. 2 automaker said net profit for the October-December period was…

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Honda’s quarterly profit slumps, annual target cut

ZURICH (Reuters) – Swiss drugmaker Roche Holding AG launched a hostile bid for Genentech on Friday and lowered its offer for the remaining 44 percent of the U.S. biotechnology company it does not already own.

Roche cuts Genentech bid to $42.5 billion

TOKYO (Reuters) – Honda Motor Co lowered its annual profit forecasts for a fourth time this year, while rival Toyota Motor Corp’s losses are growing as sliding global car sales force the industry to scale back production further.

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Honda cuts forecasts again, Toyota losses to balloon

Myanmar said the Rohingya boat people found adrift in the Andaman Sea last week could not have come from its shores because they are not among its recognized ethnic groups, state media reported Friday. Myanmar’s response could complicate efforts to repatriate…

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Rohingya not recognized as ethnic group in Myanmar

The pain of Japan’s recession is spreading from the factory floor to the living room, as December figures showed companies slashing output at a record pace, the jobless rate surging and household spending falling sharply. Industrial production at the nation’s…

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Japan factory output plunges, jobless rate jumps