International Finance & Accounting the Term Paper

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An upside in the European market Dec. 14: BAE defense systems rose 6.9% after UK prosecutors dropped a "long-term inquiry into defense contracts between BAE and Saudi Arabia." A downside: TUI fell 2.7% after the German tourism and shipping company announced it would cut 2,600 jobs in the UK.

ARTICLE THREE: Japan Tobacco, Inc. On Friday Dec. 15 announced the largest acquisition of a foreign company in Japan's history.

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Japan Tobacco will pay $14.8 billion to acquire Gallaher Group PLC of the UK. That means, according to The Wall Street Journal, that "Japan is back as a global buyer" (Morse, et al., 2006) after a financial slump of about ten years.

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