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  • Oct 10- U.S. tax preparer H&R Block Inc said it was exploring strategic alternatives for its banking unit to avoid heavy costs associated with stricter supervision under the Dodd-Frank Act. H&R Block, like other companies with small banking units, is under pressure to get out of the business to escape costly oversight by the U.S.

  • LONDON, Oct 10- The shale boom has left some of the most sophisticated refineries in the United States hunting across Europe and Africa for more of the heavy residue left over from other refiners' crude distillation units, as they try to find a use for all the expensive coking units built in the last decade.

  • NEW DELHI, Oct 10- Tata Steel's Europe unit will receive the first iron ore shipment from its Benga project in Mozambique by end-October, a top official said, a first step towards addressing the cost volatility affecting its European operations.

  • Iranian minister woos Indian businesses Wednesday, 10 Oct 2012 | 10:25 AM ET

    The United States and the European Union have imposed sanctions on Iran to deter it from pursuing a nuclear weapons program. The U.S. has pressed India to scale back its imports of Iranian crude to support those sanctions, but energy-starved India remains one of Iran's biggest oil purchasers.

  • Rice seller Amira climbs in 1st day on NYSE Wednesday, 10 Oct 2012 | 10:12 AM ET

    NEW YORK-- Shares of basmati rice seller Amira are rising in their first day of trading Wednesday on the New York Stock Exchange after the company raised $90 million in an initial public stock offering. Amira Nature Foods Ltd., which is based in the United Arab Emirates, sells packaged rice grown in India in more than 40 countries.

  • India's Sterlite to raise 5 bln rupes via bonds - source Wednesday, 10 Oct 2012 | 10:05 AM ET

    MUMBAI, Oct 10- India's Sterlite Industries. plans to raise 5 billion rupees through a bond issue at 9.40 percent, a source with direct knowledge of the deal told Reuters on Wednesday. Axis Bank is the sole arranger for the deal, the source said.

  • Oct 10- U.S. tax preparer H&R Block Inc said it was exploring strategic alternatives for its banking unit to avoid heavy costs associated with stricter supervision under the Dodd-Frank Act. H&R Block, like other companies with small banking units, is under pressure to get out of the business to escape costly oversight by the U.S.

  • *Looming risk to safe-haven flows to U.S., Japan* IMF tone in contrast to more upbeat mood in Europe* IMF says global financial confidence "very fragile".

  • Oct 10- Activist investor Clinton Group said it will no longer push for a sale of Wet Seal Inc, which it won control of last week, but will instead focus on turning the apparel retailer around. On Friday, the investment firm managed to get four of its nominees elected to Wet Seal's eight-member board. Wet Seal also named a Clinton Group nominee as chairman on Wednesday.

  • Oct 10- Danaher Corp and Cooper Industries will sell their hand and power tools joint venture, Apex Tool Group, to Bain Capital for about $1.6 billion, joining a growing group of U.S. conglomerates that is divesting its non-core assets.

  • UPDATE 3-Denim maker True Religion says exploring sale Wednesday, 10 Oct 2012 | 9:40 AM ET

    By Juhi Arora and Siddharth Cavale. Oct 10- Premium jeans maker True Religion Apparel Inc, which has been hit by falling sales, said it may sell itself after receiving interest from potential buyers. More importantly, we question the relevancy of the brand, particularly given its premium price point, "said analyst Edward Yruma of KayBanc Capital Markets.

  • BRIEF-Amira Nature Foods reports IPO pricing Wednesday, 10 Oct 2012 | 9:19 AM ET

    Amira Nature Foods Ltd, a leading global provider of packaged Indian specialty rice, announced today that Chairman and Chief Executive Officer, Karan Chanana, along with other senior executives, will ring the New York Stock Exchange opening bell on Wednesday, October 10, 2012.

  • Oct 10- ING Vysya Bank Ltd:. *India's ING Vysya Bank- RBI imposed penalty of 5.5 million rupees.

  • Oct 10- U.S. tax preparer H&R Block Inc said it is exploring strategic alternatives for H&R Block Bank, which could result in the company no longer being regulated by the Federal Reserve as a savings and loan holding company. H&R Block said it does not expect any material impact on its earnings for fiscal 2013..

  • *Gazprom already ships 1.6 million tonnes of LNG a year to KOGAS. MOSCOW, Oct 9- Gazprom said on Tuesday it has signed an agreement to sell liquefied natural gas to Korea Gas Corporation, as it strengthens its position in Asian markets.

  • CANBERRA, Oct 10- India's GVK Power and Infrastructure cleared a major hurdle for a A $10 billion coal project in Australia, winning federal government approval for the construction of a new export terminal in Queensland state.

  • TABLE-India cbank says no bids at reverse repo auction Wednesday, 10 Oct 2012 | 8:33 AM ET

    The Reserve Bank of India said on Wednesday it did not get any bids at its one-day reverse repo auction, through which it absorbs excess cash from the banking system. Earlier in the day, it accepted all 25 bids for 633.25 billion rupees at its one-day repo auction, through which it injects liquidity into the banking system.

  • Retailer Wet Seal names Clinton Group nominee as chairman Wednesday, 10 Oct 2012 | 8:26 AM ET

    Oct 10- Clothing retailer Wet Seal Inc named a Clinton Group nominee as chairman of its board, after replacing four of its board members with the activist investor's nominees last week.

  • UPDATE 2-Denim maker True Religion says exploring sale Wednesday, 10 Oct 2012 | 8:14 AM ET

    Oct 10- Jeans maker True Religion Apparel Inc, which has been hit by falling sales, said it may sell itself, after receiving interest from potential buyers. Shares in the company jumped 28 percent to $26.88 in premarket trade on Wednesday, valuing it at about $683 million.

  • India's HDFC to raise up to 10 bln rupees via bonds Wednesday, 10 Oct 2012 | 7:53 AM ET

    MUMBAI, Oct 10- India's Housing Development Finance Corp plans to raise up to 10 billion rupees through five-year bonds with a put option at the end of 13- months at 9 percent, a source with direct knowledge of the matter said on Wednesday. The base size of the issue is 7.5 billion rupees with a greenshoe of 2.5 billion rupees, the source said.