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HONG KONG (MarketWatch) — Shanghai’s Haitong Securities co. will pay 1.82 billion Hong Kong dollars ($234.8 million) for a majority stake in Hong Kong’s Taifook Securities Group, according to a stock market filing Monday, reportedly becoming the first mainland Chinese broker to buy into a Hong Kong peer.
Haitong /quotes/comstock/28c!e:600837 (CN:600837 16.13, [...]

SYRACUSE, N.Y. — The Penn Traffic Co. has told New York officials it expects to close dozens of supermarkets in upstate New York and lay off more than 4,000 employees.
The Syracuse-based supermarket operator’s layoff notice filed with the state Labor Department says it will close 53 P&C and Quality Markets in central and western New [...]