The strongest sandstorm so far this year hit the country’s north, delaying some flights at Beijing’s airport and prompting a dust warning for South Korea’s capital. China’s expanding deserts now cover one-third of the country because of deforestation, urban sprawl and drought.

AP – India’s central bank has unexpectedly hiked key interest rates a quarter of a percentage point, as the bank tries to cool high inflation amid a faster-than-expected economic rebound.

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India unexpectedly hikes rates a quarter point
(AP)

Reuters – The U.S. pay czar will slash the number of top General Motors Co executives who will receive base salaries of more than $500,000 this year.

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Pay czar trims salaries at top of GM exec ranks
(Reuters)

AP – Regulators have shut down banks in Utah, Ohio and Georgia, boosting to 33 the number of bank failures in the U.S. so far this year.

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Regulators shut banks in Utah, Ohio, Georgia
(AP)

Reuters – Republicans in the House of Representatives on Friday recommended the country’s two mortgage finance giants be phased out in four years in an effort to restore stability to the housing market.

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House GOP calls for Fannie, Freddie phase out
(Reuters)

The Gruyere from cheesemaker Cedric Fragniere in Kirchberg, Switzerland, was crowned best cheese at the World Championship Cheese Contest. John Jaeggi, the cheese industry and applications program coordinator for the Wisconsin Center for Dairy Research, discusses what makes a top cheese.

AP – Activist shareholder Carl Icahn raised the stakes in his yearlong dispute with Lions Gate Entertainment Corp. on Friday, launching an all-out bid to take over the movie studio following disagreements over its spending.

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Icahn launches hostile bid for all of Lions Gate
(AP)