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MAJOR PAPERS: - The Wall Street Journal reported that Goldman Sachs Group Inc's (NYSE: GS) hedge fund Alpha Fund, once a top performer, is continuing to lose its value. The fund has lost 37% of its value over the past year, including 22.7% last month.
- According to an article from The Lancet Medical Journal, a new study suggests that Johnson & Johnson's (NYSE: JNJ) coated stent has an edge over devices from Boston Scientific Corporation (NYSE: BSX), the Wall Street Journal reported.
- According to the Financial Times, the United Auto Workers union has singled out General Motors Corporation (NYSE: GM) and is preparing to strike as early as today if talks break down. The 4-year contracts expire tonight at 11:59 pm.
- Cadbury Schweppes Plc (NYSE: CSG) has reportedly rejected an offer for its beverage division due to unfavorable financing conditions, the Financial Times reported.
- China Daily reported that Baidu.com Inc (NASDAQ: BIDU) launched an online video advertising service called Baidu TV, in an effort to distance itself from Google Inc's (NASDAQ: GOOG) and Yahoo! Inc's (NASDAQ: YHOO) efforts in China.
- The Times of India reported that India's Mahindra & Mahindra has pulled out of the race for Ford Motor Company's (NYSE: F) Jaguar and Land Rover units due to fears of dependence on spare parts from Ford.
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