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Asia Top News and Analysis China

  • Voters who are still undecided about the presidential election aren't likely to be swayed by Friday's mixed report from the Commerce Department. "For the average American, I don't think changes in quarterly GDP" make a big difference in their perception of the economy, said Andrew Kohut, president of the Pew Research Center. "

  • Oct 26- Bankrupt battery maker A123 Systems Inc. plans to ask for court approval for a loan from auto parts maker Wanxiang Group Corp, which could give the Chinese company an advantage over a U.S. rival in a takeover battle for A123. A123, which filed for bankruptcy earlier this month, has an interim bankruptcy loan with Johnson Controls.

  • WASHINGTON-- It's halftime for the season of corporate earnings reports, and investors are in desperate need of a locker-room pep talk.

  • *Announcements made two weeks before Communist Party congress. BEIJING, Oct 26- China moved quickly on Friday to announce it had formally begun a criminal probe into disgraced former senior politician Bo Xilai, hours after expelling him from the largely rubber stamp parliament and so removing his immunity from prosecution.

  • Oct 26- Interpublic Group of Cos, home to advertising agencies McCann Erickson and Draftfcb, missed revenue estimates for the second quarter in a row, with the company warning that growth will slow further this year as clients hold back on spending. Interpublic shares fell 5 percent in late morning trade to $10.04 on the New York Stock Exchange.

  • NEW YORK-- Interpublic Group of Cos., which owns advertising and marketing agencies, said Friday that its third-quarter net income fell 67 percent, hurt by the stronger dollar and lower spending by clients. The weak economy in Europe and slowdown in China have led a wide array of companies to cut spending on services such as marketing and advertising.

  • WASHINGTON, Oct 26- U.S. economic growth picked up in the third quarter as a late burst in consumer spending and a surprise turnaround in government outlays offset the first cutback in business investment in more than a year.

  • TOYOTA LEADS: Toyota Motor Corp. has widened its global sales lead over General Motors after bouncing back from a series of natural disasters. THE NUMBERS: Toyota said Friday it sold 7.4 million vehicles globally during the first nine months of the year.

  • LONDON, Oct 26- China's imports of iron ore have risen for the past two months, but those of coking coal have dropped for the past three, creating a seeming disconnect between the two key ingredients for steel making.

  • DETROIT-- Toyota has widened its global sales lead over General Motors after bouncing back from a series of natural disasters. While Toyota's sales rose 28 percent in that period, GM's rose 2.5 percent, to 6.95 million cars and light-duty trucks.

  • BRUSSELS, Oct 26- The European Commission is having to rethink its plan to impose duties on ceramic tableware and kitchenware from China after a majority of EU member states voted against their imposition this week.

  • Oct 26- A new team of agricultural commodity traders has been assembled in China by INTL FCStone Inc. to work with producers and consumers of grain-based feed ingredients, the company said on Friday.

  • Oct 26- Consumer products maker Newell Rubbermaid Inc said it will cut about 2,000 jobs, or slightly more than 10 percent of its staff, over the next 2-1/ 2 years, joining a slew of U.S. companies trying to counter slowing sales by reducing costs.

  • *Copper arb window opened but China demand slow- traders.

  • WASHINGTON, Oct 26- U.S. economic growth picked up in the third quarter as a late burst in consumer spending offset the first cutbacks in investment in more than a year by cautious businesses. Gross domestic product expanded at a 2 percent annual rate, the Commerce Department said on Friday, accelerating from the second quarter's 1.3 percent pace.

  • WASHINGTON, Oct 26- U.S. economic growth picked up in the third quarter as a late burst in consumer spending offset the first cutbacks in investment in more than a year by cautious businesses. Gross domestic product expanded at a 2 percent annual rate, the Commerce Department said on Friday, accelerating from the second quarter's 1.3 percent pace.

  • Oct 26- Consumer products maker Newell Rubbermaid Inc said it will cut about 2,000 jobs, or slightly more than 10 percent of its staff, over the next 2-1/ 2 years, joining a slew of U.S. companies trying to counter slowing sales by reducing costs.

  • *Copper arb window opened but China demand slow- traders. Benchmark copper on the London Metal Exchange slipped to $7,778 a tonne at 0928 GMT, down 0.5 percent from Thursday's close of $7,815 a tonne.

  • BEIJING-- Chinese lawmakers stripped disgraced politician Bo Xilai of his last official position Friday, formally expelling him from the country's top legislature and clearing the way for criminal proceedings against the once-rising political star.

  • SHANGHAI, Oct 26- China's yuan hit its strong-side limit with Friday's first trade and firmly hugged the trading band boundary all day until weakening suddenly before the market close. The yuan opened at the lower limit of 6.2380, its strongest level ever, and held steady until just before 4 pm, when it dropped to a close of 6.2489, reversing all of the day's gains.