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Cnooc Ltd

BUSINESS
June 24, 2005 | Don Lee, Times Staff Writer
It conducts its board meetings in English. Its chief executive studied at USC and is said to prefer Diet Coke to tea. Its Beijing offices sport a big electronic board displaying stock prices. And its executives are fond of talking about serving shareholders. "We are trying to create value for our shareholders," its director of investor relations said.
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BUSINESS
August 31, 2007 | Peter Spiegel, Times Staff Writer
The Chinese government Thursday passed legislation that prohibits some monopolies but also could throw new hurdles in front of foreign companies seeking to acquire businesses here. The final text of the long-anticipated law, the drafting of which began in 1994, was not immediately released. But recent versions have included practices common in U.S. and European antitrust regimes, such as bans on companies colluding to raise prices and abusing dominant market positions.
BUSINESS
July 14, 2005 | From Associated Press
The trade deficit fell in May, reflecting a rise in U.S. exports to the highest level in history and a temporary decline in foreign oil prices. But the improvement is likely to be short-lived, with oil prices again hovering around record levels, analysts said. The Commerce Department said Wednesday that the U.S. trade imbalance declined to $55.3 billion in May, an improvement of 2.7% from April. However, the deficit with China rose to $15.
BUSINESS
August 3, 2005 | Paul Richter, Times Staff Writer
A Chinese oil company's fight to buy Unocal Corp. ended Tuesday in an angry retreat, but not without leaving clear signs that other political battles loom in Washington over how much more of America the cash-rich Chinese can acquire. Although CNOOC Ltd.'s offer for the eighth-largest U.S. oil and gas concern mobilized the support of American business, it was confronted -- and finally overcome -- by powerful forces that saw the purchase of American oil reserves as a threat to U.S. security.
BUSINESS
July 22, 2005 | Warren Vieth and Richard Simon, Times Staff Writers
China's revaluation of the yuan Thursday was hailed by some U.S. officials as a vindication of Bush administration pressure on Beijing to reform its currency policy, but lawmakers and analysts predicted the goodwill would dissipate if the move did not lead to bigger changes. On Capitol Hill, lawmakers from both major parties have said Beijing's currency policy made Chinese goods cheaper and American goods less competitive, contributing to U.S. job losses.
NATIONAL
July 25, 2005 | Ronald Brownstein, Ronald Brownstein's column appears every Monday. See current and past columns on The Times' website at www.latimes.com/brownstein.
It's a sign of the times that the House Republican leadership believes the only way to win approval of a free trade agreement with Central America this week is to first pass legislation bashing China for its trade practices. That legislative minuet is a clear indication the economic nationalists are back. The economic nationalists were the politicians and policy analysts who raised the loudest alarms about the commercial challenge posed by Japan in the 1980s and early 1990s.
BUSINESS
July 1, 2005 | Maura Reynolds, Times Staff Writer
Voicing concern about national security and the U.S. economy, the House of Representatives passed two measures Thursday aimed at blocking the proposed takeover of El Segundo-based Unocal Corp. by a Chinese oil company. In a strong bipartisan vote of 333 to 92, the House approved an amendment to a Treasury Department spending bill forbidding the administration from using federal funds to approve the bid by CNOOC Ltd., an arm of government-owned China National Offshore Oil Corp.
BUSINESS
June 24, 2005 | Joel Havemann, Times Staff Writer
As the proposed Chinese purchase of Unocal Corp. fanned protectionist passions in Congress, Federal Reserve Chairman Alan Greenspan warned senators Thursday not to let their frustrations with China's economic policies breed reactions that would do the U.S. economy more harm than good. Proposed tariffs against Chinese goods and other forms of protectionism would significantly lower U.S. living standards and would not save American jobs, Greenspan told members of the Senate Finance Committee.
WORLD
July 9, 2005 | Sonni Efron and Mark Magnier, Times Staff Writers
Secretary of State Condoleezza Rice arrives in Beijing today on a six-day swing through Asia aimed at luring North Korea back to nuclear disarmament talks after more than a year. However, Rice said the U.S. was not discussing sweetening the offer it made to Pyongyang a year ago, when it promised security assurances and the possibility of better economic and political ties if it agreed to verifiable dismantlement of its nuclear programs.
BUSINESS
June 11, 2005 | James F. Peltz, Times Staff Writer
U.S. regulators, claiming a victory for California motorists, approved Chevron Corp.'s proposed $16.4-billion purchase of Unocal Corp. on Friday after the companies agreed to surrender Unocal's long-contested patents on the state's cleaner-burning gasoline.
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