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Fake baby milk formula scare hits Malaysia

Malaysian authorities are investigating the safety of infant formula powders after seizing hundreds of packets of counterfeit products. Manufacturer Mead Johnson said the goods imitated its Enfalac A+ Step 1 formula. The government is testing the powders amid reports of parents saying their children suffered fevers and rashes after consuming …

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Black Friday lifts UK retail sales in November

Black Friday helped to propel retail sales 1.6% higher in November from a year earlier, official figures suggest. The Office for National Statistics (ONS) said that retailers had reported a particular uplift in sales of electrical household appliances. Sales in November were up 1.1% from the month before. ONS statistician Rhian …

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Disney set to seal $60bn 21st Century Fox takeover

Walt Disney is close to confirming a deal to buy 21st Century Fox’s entertainment assets for about $60bn, reports say. The sale would include the 20th Century Fox film studio and the Sky and Star satellite broadcasters in the UK, Europe and Asia. Disney was left as the front runner …

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Toshiba settles legal disputes with Western Digital

Toshiba has settled a legal dispute with partner Western Digital that could have prevented the $18bn (£13.3bn) sale of its prized memory chip unit. Both firms agreed to withdraw all claims against each other which ensures “all parties are aligned” on the sale to a consortium led by Bain Capital. …

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Google to open artificial intelligence centre in China

Google is deepening its push into artificial intelligence (AI) by opening a research centre in China, even though its search services remain blocked in the country. Google said the facility would be the first its kind in Asia and would aim to employ local talent. Silicon Valley is focusing heavily …

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Apple ‘to buy Shazam for $400m’

Apple is close to buying the music recognition app Shazam for about $400m (£300m), media reports say. Shazam, a UK company founded in 1999, allows people to use their smartphone or computer to identify and buy music through a snippet of sound. Shazam, which says it has more than 100 …

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Bitcoin’s rollercoaster ride after hitting $17,000

Bitcoin continued its rollercoaster ride on Friday, briefly crossing the $17,000 (£12,615) mark before plunging more than $2,500. The digital currency breached new highs before falling below $14,500, down 14% on the day according to Coindesk.com. Bitcoin had soared about 70% this week, with its dramatic rise being likened to a …

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EU agrees biggest free trade deal with Japan

The European Union and Japan have agreed terms for a free trade deal set to create the world’s biggest open economic area. The deal – the largest struck by the EU – is expected to liberalise almost all trade between the bloc and the world’s third-largest economy. It is being …

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