London has ousted Hong Kong as the world's most expensive city, reports CNBC's Robert Frank.» Read More
LONDON, Sept 23- Tesco Plc's disclosure of huge accounting mistakes over contracts with its suppliers shocked industry analysts and executives, but not because they didn't realise the potential for disaster.
NEW YORK, Sept 23- The dollar held steady against other major currencies on Tuesday after a flurry of profit-taking that also helped lift the battered euro. The euro, which traded near $1.40 in May, was up 0.06 percent in late New York dealings at $1.286 after trading as high as $1.29, in part on data suggesting improved economic growth in Germany.
*Action may deter Pfizer from returning to bid for AstraZeneca. WASHINGTON/ NEW YORK, Sept 23- Tough new U.S. rules on corporate "inversions" on Tuesday sent a chill through the market for the tax-avoidance deals, both pending and potential, with share prices falling sharply in nearly a dozen companies on both sides of the Atlantic.
*UniCredit, Santander to hold around one third each of new entity. MILAN, Sept 23- Italian bank UniCredit SpA and Spain's Santander SA are in talks to merge their fund management businesses and create a European powerhouse overseeing some 350 billion euros of assets.
Resentment over wealthy foreigners buying up real estate has created new calls for a "mansion tax" in the U.K., but some warn it could hurt the property market.
*Libya and Iraqi oil output, exports rise. For Brent, higher output from Libya and Iraq overshadowed the start of U.S.-led air strikes against Islamist groups in Syria and stronger Chinese economic data. Brent for November delivery fell 17 cents at $96.80 a barrel by 12:04 EDT after climbing as high as $97.59 a barrel in early trading.
The following list represents the most viral tracks on Spotify, based on the number of people who shared it divided by the number who listened to it, from Monday, Sept. 15 to Sunday, Sept. 21 via Facebook, Tumblr, Twitter and Spotify. 3. Ben Howard, "End Of The Affair". Myles Kennedy and The Conspirators; Live at Spotify, London ".
LONDON, Sept 23- Recent stirrings of long-dormant financial market volatility have come in the nick of time for an industry that has been bleeding revenue and jobs for years, even though bankers doubt the secular downsizing of the trading world can be reversed.
*Action may deter Pfizer from returning to bid for AstraZeneca. Burger King, which is in the process of an inversion deal with Canada's Tim Horton's, said Tuesday it would proceed with its $11.5 billion deal despite the Treasury actions, saying the transaction was not about the tax benefits.
The pharmaceutical company AbbVie, based in Chicago, reached an agreement to buy Dublin- based Shire in July for $54 billion. AbbVie Inc. lost 2 percent in New York trading, while Shire sank 2 percent in London. said Jan Wald, an analyst at Benchmark Co., a financial advisory firm.
*Oil falls as Libyan, Iraqi output outweighs strikes on Syria. NEW YORK, Sept 23- More downbeat data from Europe left global equity markets on course for a third day of losses on Tuesday, while U.S. air strikes in Syria set a cautionary tone and helped lift the price of safe-haven bonds.
JOHANNESBURG, Sept 23- Deputy governor Lesetja Kganyago is seen as most likely to head the South Africa Reserve Bank when Gill Marcus steps down in November, providing policy continuity, a Reuters poll showed on Tuesday.
NEW YORK, Sept 23- U.S. manufacturing activity hovered at a near 4-1/ 2- year high in September and factory employment surged, supporting views of sturdy economic growth this quarter. Financial data firm Markit said its preliminary or "flash" U.S.
General Motors' 112- year-old luxury car division, founded in Detroit and named for the city's founder, is moving its headquarters to New York. "There is no city in the world where the inhabitants are more immersed in a premium lifestyle than in New York," Johann de Nysschen, the brand's new president, said in a statement issued Tuesday announcing the move.
*U.S. and Arab allies start Syria strikes. LONDON, Sept 23- Brent crude oil fell towards a two-year low near $96 a barrel on Tuesday, reversing early gains as higher output from Libya and Iraq overshadowed the start of U.S.-led air strikes against Islamist groups in Syria and stronger Chinese economic data.
NEW YORK, Sept 23- The battered euro rose on Tuesday, pulling away from a 14- month trough against the dollar, as the greenback eased against other major currencies on profit-taking after a 10- week streak of gains.
*Alan Stewart released by M&S two months early. *Industry data shows Tesco's UK sales still sliding. Britain's biggest retailer hired Alan Stewart from Marks& Spencer early in the summer but he was not due to start until December.
LONDON— Luxury shoemaker Jimmy Choo has announced its intention to float its shares in London next month as part of an expansion drive, particularly in China. Malaysian-born designer Jimmy Choo and the brand's co-founder Tamara Mellon opened their first store in London in 1996. It is now owned by private investment firm JAB Luxury, which acquired it in 2011..
LONDON, Sept 23- It's now a full eight months since Indonesia turned off the supply of nickel ore to China's giant nickel pig iron sector. China's trade figures for August showed imports of just 39,000 tonnes, very much in line with the previous three months.
*May deter Pfizer from returning to bid for AstraZeneca. LONDON, Sept 23- Shares in drugmakers AstraZeneca and Shire fell sharply on Tuesday after the U.S. The move could jeopardize an agreed deal for AbbVie to buy Shire for $55 billion and deter Pfizer from making another attempt to acquire AstraZeneca, after a $118 billion takeover attempt failed in May.