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Alibaba shares surge 46 percent in their debut

- Alibaba Group Holding Ltd's shares rose as much as 46 percent in their first day of trading on Friday, lifting the Chinese online retailer's value to $244 billion. | Video

Recent Business News

U.S. Senate Democrats propose exit tax for inverting companies

WASHINGTON - Two Senate Democrats want to force U.S. companies to pay an exit tax on any profits held overseas if the companies decide to reincorporate abroad to cut their tax bills, the latest in a slew of proposals to stem such "inversion" deals.

11:28am EDT

German minister: EU-U.S. trade talks not perfect but EU's best chance

BERLIN - A European free trade deal with the United States may not be perfect but is the last chance for Europe to remain globally relevant, Germany's economy minister said on Friday.

11:29am EDT

GM's Cadillac to introduce high-end sedan in late 2015

DETROIT - As it strives to energize its Cadillac brand that once led the U.S. luxury auto market, General Motors Co said on Friday it will begin production of a new "top-end, high-technology car" by the end of 2015.

9:23am EDT

U.S.: BofA bid to void $1.27 billion fraud verdict defies common sense

NEW YORK - The U.S. government said Bank of America Corp's bid to throw out a jury verdict finding it liable for the sale of questionable loans to Fannie Mae and Freddie Mac before the financial crisis, which led to a $1.27 billion penalty, defies common sense and should be rejected.

China hands drugmaker GSK record $489 million fine for paying bribes

SHANGHAI/LONDON - China fined GlaxoSmithKline Plc a record 3 billion yuan ($489 million) on Friday for paying bribes to doctors to use its drugs, underlining the risks of doing business there while also ending a damaging chapter for the British drugmaker.

9:45am EDT

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