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New York Senator Charles Schumer sent a letter to the FCC and the Treasury requesting more scrutiny of the recent Sprint deal with Japan's SoftBank. Derek Scissors, Heritage Foundation, weighs in.
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-Berjaya Philippines Inc holds regular stockholders' meeting, Berjaya Manila Hotel, Eduque Street, Makati City, 9:00 a.m.. EVP and Zone Asia-Oceania-Africa managing director, and John Martin Miller, Nestlé Philippines chairman and CEO, Nestle Centre, Rockwell, Makati City, 2:00 p.m.. STOCKS TO WATCH- AYALA CORP.
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TOKYO, Oct 12- Japan's Softbank Corp said on Friday it is in talks with Sprint Nextel Corp about investing in the U.S. telecoms firm, but nothing has been decided.
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TOKYO, Oct 12- Japan's Nikkei average rebounded in early trade on Friday from its lowest close in more than two months, but gains were capped by a 9 percent slide in index heavyweight Fast Retailing. The Nikkei added 0.1 percent to 8,555.45, while the broader Topix. advanced 0.7 percent to 718.66.
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TOKYO, Oct 12- Shares of Softbank Corp were untraded with a glut of sell orders on Friday after Sprint Nextel said it was in talks with the Japanese firm on a "potential substantial investment" that could involve a change in control of the U.S. firm.
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TOKYO, Oct 12- Shares of Fast Retailing Co Ltd. shed 10 percent to 16,020 yen, hitting a two-month low, after its full-year operating profit came in below market expectations. Investors were also disappointed with its earnings guidance for this business year ending August 2013.
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SINGAPORE, Oct 12- U.S. crude rose towards $93 a barrel on Friday, supported by escalating tensions between Turkey and Syria and supply disruptions at North Sea oil fields. climbed 25 cents to $92.32 a barrel in early Asia trading, after gaining nearly a dollar the previous session.
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OTTAWA, Oct 11- Canada tentatively backed on Thursday the International Monetary Fund's call for giving debt-burdened Greece and Spain more time to reduce their budget deficits. "I think it's certainly worth considering," Finance Minister Jim Flaherty told reporters on a conference call from Tokyo when asked if he backed the IMF view.
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TOKYO, Oct 12- Greece, Spain and the euro zone's slow progress toward debt reform take centre stage at IMF meetings on Friday despite Europe's best effort to remove itself from the spotlight.
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TOKYO, Oct 12- Japan's Nikkei average is likely to rebound on Friday from its lowest close in more than two months, but concerns over the quarterly earnings season means the benchmark is still on track for a fourth straight week of losses. Mobile operator Softbank Corp will be in focus as it looks to buy roughly 70 percent of U.S. Sprint Nextel Corp.
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CANBERRA, Oct 12- Australian shares are likely to open flat on Friday on mixed leads from Wall Street, holding below 14- month highs hit earlier this week, although a rebound in metal prices may help index-heavy mining stocks. *Local share price index futures. *New Zealand's benchmark NZX 50 index.
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*Deal could lead to Sprint buying Clearwire- analysts. *Sprint, Clearwire soar in afternoon trade; MetroPCS down. The Japanese company might also be aiming to use Sprint as a vehicle to make a run at smaller Sprint peer MetroPCS Communications Inc, a two-step transaction that would potentially cost more than 2 trillion yen, according to a Nikkei report.
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Mutual fund performance was strong overall in the third quarter. The Federal Reserve and central banks in other nations approved additional economic stimulus measures. Listed are average returns in various fund categories, as tracked by Lipper Inc..
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*Sprint volume surges, shares jump on Softbank deal reports. Traders have been bearish recently, with the S&P 500 down 2 percent in the last five sessions in anticipation of a weak earnings season. AT&T and Verizon also weighed after news that Japan's Softbank may buy a majority stake in their competitor, Sprint Nextel.
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Oct 11- Overview-- Sprint Nextel. The CreditWatch placement follows Sprint Nextel's announcement that it is in talks with Japan's Softbank Corp., which is seeking to buy all or part of Sprint Nextel.
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The Dow Jones industrial average rose as much as 83 points, shrugging off a widening U.S. trade deficit, higher unemployment in Greece and a ratings cut for Spain. "There's not a lot to move the market today," said Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank in San Francisco. "
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NEW YORK, Oct 11- U.S. stocks ended little changed on Thursday as gains brought by a sign of improvement in the labor market were capped by a drop in Apple shares after a legal setback in a court ruling. The Nasdaq Composite Index was down 2.40 points, or 0.08 percent, at 3,049.38. ( (For multimedia versions of Reuters Top News: 3000 Xtra: visit BridgeStation: view story. 134==============================================================.
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OTTAWA, Oct 11- The idea that global banking reforms should be watered down or delayed to protect a weak global economy is "fanciful," Mark Carney, head of the G20's financial regulatory task force, said in an interview published on Thursday in Euromoney Magazine.
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*Greece's biggest company CCH quits for Switzerland. that it was switching its primary listing from Athens to London and moving its corporate base to stable, low-tax Switzerland is a bitter blow to the debt-crippled nation.
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*Sprint, Clearwire soar in afternoon trade; MetroPCS flat. TOKYO/ NEW YORK, Oct 11- Japanese mobile carrier Softbank Corp may buy a majority stake in Sprint Nextel Corp to establish a foothold in the U.S. wireless market, in what could be the largest Japanese acquisition ever in America.
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*Apple shares fall 1.4 percent after setback in Samsung case. *Sprint volume surges, shares jump on Softbank deal reports. NEW YORK, Oct 11- U.S. stocks erased most gains and were little changed on Thursday as a drop in Apple shares after a legal ruling dented broad market gains on a sign of improvement in the jobs market.