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  • *China official services PMI slows. *China, South Korea on holidays. TOKYO, Oct 3- The dollar firmed and most riskier assets fell on Wednesday as data from China and Australia added to gloom about the global economic outlook, which already was deepened by uncertainty about the timing of Spain's request for a bailout.

  • Asian stocks post modest gains as US data awaited Tuesday, 2 Oct 2012 | 11:11 PM ET

    The U.S. Labor Department will release employment data for September on Friday. Markets in mainland China and South Korea were closed for public holidays. "Holidays in China and hesitancy ahead of Friday's US jobs report will keep market activity restrained today," analysts at Credit Agricole CIB in Hong Kong said in a report.

  • *Los Angeles has more dispensaries than any other city. LOS ANGELES, Oct 2- The Los Angeles City Council voted to rescind a newly enacted ban on storefront medical marijuana shops on Tuesday, allowing the city to avoid a referendum next year that some officials said would likely succeed in reversing the prohibition.

  • Oracle CEO to experiment on his Hawaiian island Tuesday, 2 Oct 2012 | 10:33 PM ET

    SAN FRANCISCO-- Oracle CEO Larry Ellison envisions his recently acquired Hawaiian island becoming a "little laboratory" for experimenting with more environmentally sound ways to live. Ellison's ambitions include converting sea water into fresh water on the 141- square-mile island of Lanai.

  • By Greg Roumeliotis and Josephine Mason. NEW YORK, Oct 2- Carlyle Group LP said on Tuesday it had bought a majority stake in a commodities-trading hedge fund manager, its biggest leap yet in an expansion that has seen it diversify from private equity into other alternative asset classes.

  • Brent slips towards $111 as growth worries persist Tuesday, 2 Oct 2012 | 10:22 PM ET

    SINGAPORE, Oct 3- Brent crude futures slipped towards $111 per barrel on Wednesday, hurt by persistent concerns on global growth and oil demand, while Europe's festering debt crisis added to uncertainty.

  • HONG KONG, Oct 3- Lenovo Group Ltd, the world's No.2 PC maker, will open its first PC production plant in the United States with operations expected to begin in 2013..

  • Oct 2- American Airlines pilots this week are expected to authorize their union to call a strike, but the union says it may decide to keep the vote secret for now.

  • *London, Dubai, Singapore and Houston under consideration. Oct 2- Seadrill Ltd, the world's biggest driller by market capitalisation, said it plans to replace CEO Alf Thorkildsen with the head of its Archer Ltd affiliate, and is looking to relocate management outside Norway.

  • MELBOURNE, Oct 3- Australian shares hit a 14 month-high on Wednesday as banks and broader stocks surged after the central bank cut interest rates and the local dollar weakened, enhancing export earnings. Top banks were all higher, led by National Australia Bank. "People are rethinking everything," said Macquarie Equities division director Lucinda Chan.

  • *Los Angeles has more dispensaries that any other city. LOS ANGELES, Oct 2- The Los Angeles City Council voted to rescind a newly enacted ban on storefront medical marijuana shops on Tuesday, allowing the city to avoid a referendum next year that some officials said would likely succeed in reversing the prohibition.

  • Oct 2- New York's Metropolitan Transportation Authority will need at least $20 billion from 2015 to 2019 to keep its system in good repair, but the mass transit operator has yet to figure out how to pay for these upgrades, a report said on Tuesday.

  • PRESS DIGEST - Hong Kong - Oct 3 Tuesday, 2 Oct 2012 | 9:52 PM ET

    HONG KONG, Oct 3- These are some of the leading stories in Hong Kong newspapers on Wednesday. --Sun Hung Kai Properties Ltd has sold about 700 units at its new residential project, Century Gateway, in Tuen Mun for HK $5 billion, said deputy managing director Victor Lui.

  • LONDON, Oct 3- Suggested structural reforms to banks should be a cause for concern for investors because they do not go far enough, a top Bank of England official said on Wednesday, following recommendations by an EU advisory group for banks' to separate retail from trading activities.

  • But so far the former Alaska governor and her husband Todd Palin have not come forward to claim their share of a settlement fund established for victims of the 1989 Exxon Valdez oil spill.

  • NY appeals court orders bail for philanthropist Tuesday, 2 Oct 2012 | 9:31 PM ET

    NEW YORK-- An opera-loving philanthropist convicted of a multimillion-dollar fraud will soon be freed from prison on bail after a federal appeals court signaled on Tuesday he might be succeeding in proving his case deserves a second look.

  • NEW YORK, Oct 2- Carlyle Group LP said on Tuesday it would buy a majority stake in a commodities-trading hedge fund manager, its biggest leap yet in an expansion that has seen it diversify from private equity into other alternative asset classes.

  • MANILA, Oct 3- The Asian Development Bank cut most of its 2012 and 2013 growth estimates for developing Asia on Wednesday as a slump in global demand weighs on the region's powerhouses China and India and on its export-dependent economies.

  • Toyota Motor Corp advanced 1.5 percent to 3,040 yen and Honda Motor Co gained 0.6 percent to 2,399 yen after they posted strong sales in the United States in September. Toyota reported a 41.5 percent jump year-on-year last month, while Honda logged a 30.9 percent increase.

  • *Justin Trudeau becomes Liberal leadership front-runner. MONTREAL, Oct 2- The charismatic son of former Canadian Prime Minister Pierre Trudeau declared his candidacy for the leadership of the Liberal Party on Tuesday, hoping to recreate the sort of buzz that made his father prime minister in 1968..