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Top Chinese envoy escapes Taiwan hotel barricade

Top Chinese envoy escapes Taiwan hotel barricadeTaipei - Chinese envoy Chen Yunlin, the highest level Chinese official to visit Taiwan in more than half a century, Thursday escaped a protest barricade that had pinned him down for six hours.

Chen was escorted under police protection from the Regent Hotel, where he had attended a banquet Wednesday evening only to find the building under siege by hundreds of anti-China protestors when he tried to leave.

Riot police were unable to disperse the protesters. He was finally escorted to safety at 2 am Thursday.

Wells Fargo seeks cash injection for Wachovia takeover

Wells Fargo seeks cash injection for Wachovia takeoverSan Francisco - Wells Fargo, the biggest bank on the US west coast, said Wednesday it would issue 10 billion dollars in stock to help pay for the takeover of Wachovia Corp.

Wells Fargo triumphed in a bitter takeover struggle against Citigroup weeks ago to acquire the troubled Wachovia - a takeover that came amidst massive turmoil and bankruptcies in the finance industry.

Remaining US Senate races still too close

Washington - One day after congressional elections, four races in the Senate remained undecided Wednesday and the outcome in a handful of contests in the House of Representatives were still uncertain.

But it was clear that Democrats had widened their majorities in both chambers.

Democrats capitalized on the backlash against Republicans and President George W Bush to pick up seats. The Democrats won three Senate seats vacated by retiring Republicans in Virginia, New Mexico and Colorado, while Democratic challengers ousted two of their Republican opponents in New Hampshire and North Carolina.

Cisco profits down - issues revenue warning

Cisco profits down - issues revenue warningSan Francisco - Networking giant Cisco Systems held quarterly profits stable at 2.2 billion, it said Wednesday. But the Silicon Valley bellwether warned that the challenging economy would drop fiscal second quarter revenues by between 5 and 10 per cent.

The company posted revenues for the quarter of 10.3 billion dollars, up 8 per cent for the same period last year.

Australian stocks pounded by Wall Street hammer

Australian stocks pounded by Wall Street hammerSydney - A big fall on Wall Street saw Australian stocks droop on the opening bell Thursday.

The ASX 200 gave up 171 points, almost 4 per cent, to 4,165 as investors took their lead from the US market rather than an upbeat assessment by Finance Minister Lindsay Tanner.

Praise for Obama's victory crosses party lines

Praise for Obama's victory crosses party linesWashington - Even in bitter defeat, Republicans joined Democrats in celebrating Barack Obama's historic achievement of becoming the first African American to become president of the United States.

President George W Bush, whose vast unpopularity coupled with the falling economy prompted the voter backlash against Republicans that likely cost John McCain the election, couldn't help but praise Obama on Wednesday for breaking the racial barrier and overcoming more than two centuries of discrimination.

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