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China Closes Major Business News Website in Extortion Case

Authorities ordered one of China's most prominent business news websites to close Thursday after its managers were accused of extorting money from companies with threats of negative coverage. The penalties follow the September detention of the publisher and general manager of the website's parent newspaper, the 21st Century Business Herald. That was one of the highest-profile scandals in a Chinese news industry that has been wracked by repeated allegations of...

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