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• The Wall Street Journal reports that a 50-50 joint venture in India between Wal-Mart and Bharti Enterprises is expected to generate nothing but losses for at least four or five years.

The prediction – which actually came from Sunil Mittal, chairman of Bharti Enterprises – came just a week after Wal-Mart fended off criticisms by many in the investment community that it is not doing enough to maximize shareholder value, as well as questioning its emphasis on non-US operations in the face of its departure from Germany and continued losses in Japan.
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