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Troubled French media powerhouse Vivendi Universal on Wednesday reported a net loss of $12.1 billion for the first half of the year and announced plans to sell $9.8 billion in assets, including U.S. publisher Houghton Mifflin.

US Airways, hit hard by high operating costs and the Sept. 11 terrorist attacks, filed for Chapter 11 protection Sunday, becoming the first major airline to declare bankruptcy since last fall.