MAJOR PAPERS:

• In a step toward expanding its reach into China, UCBH Holdings Inc (NASDAQ: UCBH) has acquired a full stake in Shanghai-based Business Development Bank in a deal valued at $205M, the Wall Street Journal reported.

• After creating an agreement with the International Herald Tribune, Reuters Group Plc (NASDAQ: RTRSY) is reportedly in discussion for a similar agreement with The New York Times Company (NYSE: NYT), the UK Times reported.

• In an interview with Bloomberg, E.I du Pont de Nemours and Company's (NYSE: DD) CEO Charles Holiday said he believes the U.S. economy will be able to avoid a recession in 2008.
• According to "people familiar with the plan," Amgen Inc. (NASDAQ: AMGN) may sell its Japanese unit in an effort to help cut global costs due to a slump in sales and lower earnings forecast, Bloomberg reported.

Newspaper wrap-up: Reuters looks for revenue-sharing deal with NY Times originally appeared on BloggingStocks on Tue, 11 Dec 2007 09:15:00 EST. Please see our terms for use of feeds.