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NEW YORK, March 9 (Xinhua) -- The U.S. stocks dropped on Wednesday, the two-year anniversary of the beginning of a bull market, as concerns of oil prices and Middle East unrest continued to weigh on investors' minds.U.S. crude oil price dipped on Wednesday as crude inventories rose more than expected, though Brent crude rose on fears caused by continued violence in Libya.Meanwhile, Rex Tillerson, the CEO of energy giant Exxon Mobil Corp., said on Wednesday that he didn't think the recent jump in oil prices was hurting the U.S. economy just yet, but it's getting close.The market was worrying that the surging oil prices would hurt global economic recovery. Adding to those concerns, the Portuguese government's two-year cost of borrowing hit the highest level since it joined the eurozone in a bond auction on Wednesday.Wednesday marked the two-year anniversary of the beginning of a bull market. On March 9, 2009, the Dow Jones Industrial Average closed at 6,547 and the Standard & Poor's 500 Index closed at 677. The Dow is back above 12,000 now and the S&P 500 index has almost doubled.Meanwhile, the wholesale report was slightly positive, but still failed to boost the market. According to the U.S. Commerce Department, the wholesale inventories climbed 1.1 percent in January. Sales at the wholesale level rose 3.4 percent, the largest gain since November 2009.Economists expected that as businesses kept expanding, demands for products would continue to grow. And larger sales may also encourage businesses to keep restocking their shelves and boost factory production.According to the report, a 10.6-percent rise in demand for petroleum helped lift sales, reflecting higher oil and gas prices.While some investors were concerned that surging oil prices might have a negative impact on economy, some others believed the boost in sales and inventories in January hinted that the economy could withstand the impact.The Dow Jones industrial average lost 1.29 points, or 0.01 percent, to 12,213.09. The Standard & Poor's 500 Index was down 1. 80 points, or 0.14 percent, to 1,320.02. The Nasdaq declined 14.05 points, or 0.51 percent, to 2,751.72.
BEIJING, Feb. 2 (Xinhua) -- Two more planes flew 435 more Chinese back home from Egypt Wednesday afternoon.An airliner with 213 Chinese from Cairo landed at the Beijing Capital International Airport at 2:19 p.m., and another with 222 Chinese including many Hong Kong people from Luxor landed at a Hong Kong airport at 3:25 p.m..These flights were another strive of the Chinese government and airline operators to get stranded Chinese nationals out of Egypt, where anti-government demonstrations have led to chaos in several major cities including Cairo.So far, 1371 stranded Chinese had been taken home by six flights.
BEIJING, April 19 (Xinhuanet) -- The case in the Hollywood blockbuster "The Social Network" continues in real life.Twins Cameron and Tyler Winklevoss on Monday filed another appeal against their Harvard classmate and Facebook founder Mark Zuckerberg.The Winklevosses claim that the case needs to be reviewed by a special 11-judge panel in the latest appeal, after a three-judge panel of the 9th U.S. Circuit Court of Appeals ruled against the brothers last week.The twins initially claimed that Zuckerberg had stolen their idea for the website but agreed to drop their lawsuit in 2008 in exchange for 20 million dollars in cash and stock in the company.But later they discovered the stock was worth less than claimed at the time and sought to have the deal voided, the brothers said.
KIGALI, Feb. 8 (Xinhua) -- Li Zhaozhuo, vice chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), will head a high-level delegation to Rwanda this month to boost friendly and cooperative ties between the two countries.According to a statement released by Rwanda's Senate on Tuesday, the three-day visit will begin on Feb. 18 and is to strengthen regular contacts between Rwandan and Chinese parliamentary chambers on a number of issues and review bilateral projects.Chinese Ambassador to Rwanda Shu Zhan has confirmed that the official delegation from China is "planning an outreach visit" to Rwanda.After a meeting with the Chinese envoy to Rwanda on Tuesday, the president of Rwanda's Senate, Vincent Biruta, said his country's legislative chambers would continue to promote friendly ties with the CPPCC and play a "constructive role" in promoting bilateral cooperation.Rwanda have received training assistance from China in the applications of information communication technology (ICT) in parliaments.The Central African nation has a long-standing bilateral relationship with China in a number of socio-economic areas such as infrastructure, energy, education, health, agriculture and communications.
SHANGHAI, Jan. 29 (Xinhua) -- Three Carrefour stores were fined 500,000 yuan (75,988 U.S. dollars) each on Saturday for overcharging customers in east China's metropolitan Shanghai, said municipal price regulators.The fine is the highest for such wrongdoing, with the tickets being issued Saturday morning.The three stores were also ordered to correct their illegal pricing and refund overcharged customers, said the regulators.A hearing will be held to decide the final amount of the fine. Carrefour representatives will be able to respond to the charges at the hearing, according to regulators.China's price regulator announced last week that it had found several retailers cheating customers, which included 11 of Carrefour's China stores.Carrefour China promised customers Saturday that it would provide refunds of five times the difference between advertised prices and incorrect prices charged at registers, after it was blacklisted by Chinese authorities due to deceptive pricing.Chen Bo, spokesperson with Carrefour China, apologized to Chinese customers during an exclusive interview with Xinhua.Chen said the company has started to work on this pricing issue.Carrefour China has established both short-term and long-term measures to resolve the issue, Chen added."We will have our special control group conduct internal price inspections, with wide coverage and high frequency," Chen said.Chen said the refund policy would be permanently implemented at Carrefour's 182 outlets in China, with non-implementation of the policy being regarded as a violation of company rules.The National Development and Reform Commission, China's top economic planner, also urged authorities to step up price checks ahead of the Spring Festival, which falls on Feb. 3 this year.The Spring Festival holiday is usually the busiest shopping season, as the public makes large purchases of food and gifts for families and friends.