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COFCO is the abbreviation for China National Cereals, Oil and Foodstuffs Corporation, which was the state company importing grain and other staple foods into China during the period before China opened up its economy. It is now a dominant company in China's grain and other staple products from edible oil, dairy products to bacon and beer. Under CEO Ning Gaoning, Cofco has transformed itself since 2004 from primarily being a grain importer to value added products, food processing, and technologies in the food business. Cofco is expanding rapidly overseas with deals and acqusitions, and has about $10 billion in state funds for acquisitions. Recent acquisitions include $2.7 billion for Dutch grain trader Nidera BV, and 51% ownership of Noble agricultural unit. Earlier acquisitions include vineyards in Chile and France in 2010, and Australia's Tully Sugar in 2011. Current plans are for acquisitions in the U.S. and Latin America. Revenues in 2014 were an estimated $63.3 billion. Interviews with cane farmers that are part of Tully Sugar in Australia show Cofco has managed the company well and won the support of farmers....

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Former Nissan head Carlos GHosn is released from a Tokyo jail on $9 million bails after 108 days in jail. He will live in a court approved residence to prepare for trial The surprise arrest of Ghosn took place on Nov. 19, and earlier bail requests were rejected until this one. Prosecutors say Mr. Ghosn had used Nissan money for personal benefit when Nissan assumed the loss on a derivatives contract made by Ghosn, and for failing to include $80 million in compensation in financial disclosures.

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Citing Alexis de Tocqueville, the Russian President makes a plea for writing a new page in Russian-US relations, by working together, because he says the world expects the two countries to take energetic steps to establish a climate of trust and goodwill, and not to languish in inaction and diengagement. Medvedev says he was greatly impressed with Obama's inaugural address and its unbiassed assessment of America's problems, the need to change together with the rest of the world. Its a kind of call to action, to restart cooperation and working together, building trilateral cooperation between the EU, the USA and Russia.

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Sony's push into the medical devices business with the acquisition of a 15% stake in Olympus. Sony will provide a badly needed Y50 billion capital injection for Olympus. Olympus has a 70% share in the market for endoscopes.

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Mr. Arjun Meghwal from the reserved constituency of Bikaner in Rajasthan is appointed by prime minister Modi to be the new Law minister of India. It also ensures smoother relations between the federal government and the Judiciary.

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The National Assessment of Educational Progess (NAEP) test scores in the U.S. for K-12 show a lack of progress since 2013. Scores for math and reading dropped for 8th grade students, and scores for reading were stagnant while dropping in math for 4th grade students. The test scores reflect progress in rural, suburban, urban environments, for communities that are affluent, less affluent and poor, different ethnic backgrounds. The test started in 1990 is the only one measuring national progress. The new results of NAEP are on a scale of 0 to 500, and show that in 2015 64 percent of 4th graders and 66 percent of eighth graders were not reading proficient, 60 percent of 4th graders and 67 percent of 8th graders were not math proficient. Massachusetts, Vermont, New Hampshire, do much better in the tests than Mississippi and New Mexico. Experts say a state to state comparison should separate the non native English speaking students from native English speaking, especially in states like Texas. With about two thirds of students failing the math and reading proficiency levels, growing proportions of minority Hispanic students in many states, larger proportion of less affluent students, the tests show the challenges facing America's K-12 education even after the changes introduced by Education Secretary Duncan since 2008....

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President Trump says of aide Stephen Bannon- "he's a friend of mine."  In the same news conference he added that Bannon had joined the Trump campaign late, and that "we'll see what happens to him," in August 2017. Bannon has come under criticism for the chaotic situation in the White House. Bannon's use of the Alt-right news outlets to criticize national security chief Gen. McMaster is now an issue in the administration. Bannon's job remains uncertain, says this NYT report, yet he continues to have some influence in policy the president uses to appeal to the Alt-right part of his base of support. Rarely has a presidential aide ruffled so many in the White House, and rarely has a president used the Alt-right in this manner.

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Ignazio Angeloni heads the financial supervisory authority setup by EU leaders in 2013 inside the European Central Bank. The NYT's Danny Hakim's interview with Angeloni on the task facing Angeloni and the ECB as it takes on supervision of all EU banks.