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  • Greek junior gov't partner blocks reforms deal Tuesday, 23 Oct 2012 | 11:35 AM ET

    ATHENS, Greece-- A junior partner in Greece's governing coalition has refused to lift its opposition to a new package of austerity measures, which bailout creditors have been demanding for months in exchange for more rescue loans.

  • More BBC staff probed on sex claims post-Savile Tuesday, 23 Oct 2012 | 11:29 AM ET

    LONDON-- A sexual abuse scandal shaking the BBC broadened Tuesday, with the broadcaster saying that it is investigating claims of sexual abuse and harassment against nine staff members and contributors, in addition to the late disgraced children's TV host Jimmy Savile.

  • Paper maker Stora Enso in $104 million Q3 profit Tuesday, 23 Oct 2012 | 11:25 AM ET

    HELSINKI-- Nordic paper maker Stora Enso Oyj reported Tuesday a third-quarter net profit of 80 million but says it will slash 520 jobs to save 36 million annually. Stora's job cuts _ mostly in Finland, Sweden and Poland _ will be accompanied by mill closures in Sweden and Finland and efficiency improvements at several other plants, the company said.

  • China leader's persona forged by harsh early life Tuesday, 23 Oct 2012 | 11:12 AM ET

    LIANGJIAHE, China-- The next leader of China spent much of his youth living in a dug-out cave. Xi Jingping's seven years in this remote northern community meant toiling alongside rural villagers by day and sleeping on bricks by night, in stark contrast to his pampered early years in Beijing.

  • Roche probed for not reporting side effects Tuesday, 23 Oct 2012 | 11:07 AM ET

    LONDON-- Europe's top drug regulator announced Tuesday it is taking action against pharmaceutical giant Roche for allegedly failing to properly report the side effects of 19 drugs being used by U.S. patients. It is the first time the European Medicines Agency has begun a so-called `infringement proceeding' against a drug maker.

  • Markets on defensive amid US unease Tuesday, 23 Oct 2012 | 10:54 AM ET

    LONDON-- Stocks suffered one of their worst sessions in weeks on Tuesday following another batch of weak U.S. corporate earnings and uncertainty over the outcome of the race for the White House. Downbeat updates on Tuesday from chemical company DuPont and manufacturer 3 M added to the prevailing uncertainty.

  • Stocks hammered by weak earnings reports Tuesday, 23 Oct 2012 | 10:50 AM ET

    3 M, which makes everything from Scotch tape to coatings for LCD screens and is an economic bellwether, reduced its profit expectations for this year because of "current economic realities." Xerox plunged 8 percent, or 56 cents, to $6.47.

  • EU needs another $11.7 billion for 2012 budget Tuesday, 23 Oct 2012 | 10:45 AM ET

    STRASBOURG, France-- The European Commission says an additional 9 billion is needed to meet all of the EU's commitments in the 2012 budget. But 5.9 billion will have to come from member states, some of whom are cutting their budgets because of Europe's financial crisis.

  • Greek coalition leaders hold new talks on cutbacks Tuesday, 23 Oct 2012 | 10:25 AM ET

    ATHENS, Greece-- Greece's prime minister is holding another round of talks with his restive coalition partners to try to convince them to accept the last details of an austerity package that the country needs to secure vital rescue loans. Antonis Samaras said Tuesday that "at some point, we have to finish" talks on the 13.5 billion package.

  • Lexmark breaks even in 3Q, revenue down Tuesday, 23 Oct 2012 | 10:10 AM ET

    LEXINGTON, Ky.-- Lexmark International broke even in the third quarter both in per-share and dollar terms _ a sharp decline from a profit a year earlier due to restructuring and acquisition-related charges. In the July-September period a year ago, Lexmark earned $67 million, or 86 cents per share.

  • News Summary: 3M cuts full-year outlook Tuesday, 23 Oct 2012 | 10:10 AM ET

    SLUGGISH ECONOMY: 3 M cut its profit projections for this year because of weak economic growth, including in China and Europe. 3 M said it will lay out 2013 expectations in December. WHY IT MATTERS: 3 M makes everything from Post-it notes and Scotch tape to roofing granules, coatings for LCD screens, and traffic sign coatings.

  • BBC boss: Corporate culture aided abuser Savile Tuesday, 23 Oct 2012 | 9:58 AM ET

    LONDON-- The BBC has become the latest large institution to find itself accused of failing to stop sex abusers in its midst, with its chief acknowledging Tuesday that a "cultural problem" within the broadcaster had allowed the late TV host Jimmy Savile to molest children and teenagers for decades.

  • Italian police arrest ex-Finmeccanica executive Tuesday, 23 Oct 2012 | 8:49 AM ET

    MILAN-- An Italian investigation into alleged corruption in the awarding of international contracts to aerospace and defense giant Finmeccanica led to the arrest Tuesday of the company's former commercial director and has implicated a former Cabinet minister.

  • Markets subdued as focus remains on US Tuesday, 23 Oct 2012 | 6:48 AM ET

    LONDON-- Financial markets were on the defensive Tuesday ahead of another round of U.S. corporate earnings, including from Facebook, and amid uncertainty over the outcome of the U.S. presidential election. Facebook's earnings results after the market close will be key for its future.

  • Royal Dutch Shell makes Nigeria production warning Tuesday, 23 Oct 2012 | 6:31 AM ET

    LAGOS, Nigeria-- Royal Dutch Shell PLC warned Tuesday that it won't be able to make its estimated production for two types of oil pumped from Nigeria, largely blaming attacks on its pipelines by thieves wanting to steal crude.

  • Nokia launches $980 million bond offering Tuesday, 23 Oct 2012 | 5:44 AM ET

    HELSINKI-- Nokia Corp. is planning to raise 750 million via an issue of bonds as part of an effort to build up its reserves ahead of next month's launch of phones running Microsoft's new Windows 8 software. Last week, Nokia posted a third-quarter net loss of 969 million as sales dwindled 20 percent to 7.2 billion.

  • BBC boss to face lawmaker committee over scandal Tuesday, 23 Oct 2012 | 4:09 AM ET

    LONDON-- The director general of the BBC is set to face a lawmaker committee to explain why the broadcaster pulled an expose unmasking one of its most popular entertainers as a pedophile. George Entwistle will face lawmakers on the Culture Media and Sport Select Committee on Tuesday.

  • Russian brochure depicts migrants as tools Tuesday, 23 Oct 2012 | 12:56 AM ET

    ST. PETERSBURG, Russia-- It was intended as a friendly guide to Russia for labor migrants from Central Asia, but instead it turned into an insult. The government of Tajikistan formally urged Russian authorities to remove the book from circulation, and representatives of the Uzbek community voiced their outrage.

  • Oil stocks fall as crude prices sink Tuesday, 23 Oct 2012 | 12:51 AM ET

    Weak or cautious forecasts this week from major manufacturers including 3 M Co., Korean steel maker Posco and heavy equipment manufacturer Caterpillar contributed to concern about global economic growth. Exxon Mobil Corp. fell $1.94, or 2.1 percent, to $90.25; and ConocoPhillips fell $1.12, or 2 percent, at $55.92;.

  • Shares of steel producers fall on demand worries Tuesday, 23 Oct 2012 | 12:46 AM ET

    Other global companies, including Caterpillar on Monday, cited slower-than-expected growth in the U.S., China, and noted the broadening recession in Europe. South Korean steel maker Posco said that it expected growth in steel demand to range between 2 percent and 3 percent by 2013 because of slower demand globally in both developed and emerging countries.