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A look back at the business news of 2007, including turmoil in the US housing market. Many Americans lost their homes as banks foreclosed on overdue mortgages. The federal government stepped in to improve bank regulation. When it emerged that UK bank Northern Rock was being bailed out by the Bank of England, savers queued to withdraw their money, leading to the first run on a bank in Britain for more than a century. Burberry announced it was closing a polo shirt factory in south Wales and moving production to Asia to reduce costs. A male voice choir accompanied workers as they left the building after their final shift. Nigerian business tycoon Aleeko Dangote, who has oil and textile businesses, insisted that there was nothing unusual about him donating money to Nigeria's ruling party. And Disney swooped in to buy a children's game website for $700 million.

(Picture: People protest in front of a subprime loan servicer in West Palm Beach, Florida in September 2007. Credit: Getty Images)