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MAJOR PAPERS:- As early as today, The Blackstone Group LP (NYSE: BX) may announce that they are buying the New York hedge fund GSO Capital, reported the Wall Street Journal. Terms were not disclosed.
- The Wall Street Journal also reported that Merrill Lynch & Co Inc (NYSE: MER) could receive a chunk of the $3B to $4B they need from a Middle Eastern government investment fund, while Citigroup Incorporated (NYSE: C) may get as much as $10B from foreign governments.
- JP Morgan Chase & Co (NYSE: JPM) is has hired former British Prime Minister Tony Blair as a part-time adviser to the company, the Financial Times reported.
- Time Warner Inc (NYSE: TWX) has made an undisclosed investment in Web-based social community Gaia Online, the New York Post reported. The site, aimed at teenagers, has other investors that include The Walt Disney Company (NYSE: DIS) and Sony Corporation (NYSE: SNE).
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