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  • *Italy's credit downgrade weighs on sentiment. PARIS, Dec 8- European shares fell early on Monday, trimming some of the previous session's sharp gains after soft macro data from China and Japan. "Italy's downgrade is a good reminder that Europe is far from being out of the woods.

  • HONG KONG, Dec 8- Dalian Wanda Commercial Properties Co Ltd, the world's second largest developer of shopping malls and office buildings, cut the size of its Hong Kong IPO by around a third to $3.9 billion to lure investors worried about its huge debt, analysts said. "Investors will be concerned about the debt," said Alvin Cheung, associate director at Prudential...

  • MELBOURNE, Dec 8- Societe Generale has suspended its involvement in financing a $10 billion coal mine, rail and port project being developed by India's GVK conglomerate and Australian billionaire Gina Rinehart, citing the project's years-long delay. "We have been working with Societe Generale on a specific element of the financing arrangements for our...

  • LISBON, Dec 5- Telecoms group Altice's plan to buy the Portuguese operations of Brazil's Oi for 7.4 billion euros depends on winning the backing of shareholders in Portugal Telecom SGPS, the holding company which owns 25.6 percent of Oi, a spokesman for Portugal Telecom said. Lisbon- listed Portugal Telecom SGPS is the target of a 1.2 billion-euro takeover offer...

  • NEW YORK, Dec 4- The billionaire Ronald Perelman's lawsuit accusing New York City art gallery owner Larry Gagosian of defrauding him into overpaying for a Cy Twombly painting has been thrown out by a unanimous state appeals court. Despite being a "sophisticated" plaintiff, Perelman "conducted no due diligence" to determine the value of Twombly's "Leaving Paphos...

  • Rockstar yacht loses to drawbridge   Thursday, 4 Dec 2014 | 2:57 PM ET
    Rockstar yacht loses to drawbridge

    Rockstar energy drink billionaire founder Russ Weiner's yacht got stuck while being towed under a drawbridge, taking out part of the roof, but no one was hurt. CNBC's Robert Frank says the bridge had been declared "functionally obsolete" 4 years ago.

  • NEW YORK, Dec 4- The billionaire Ronald Perelman's lawsuit accusing New York City art gallery owner Larry Gagosian of defrauding him into overpaying for a Cy Twombly painting has been thrown out by a unanimous state appeals court. Despite being a "sophisticated" plaintiff, Perelman "conducted no due diligence" to determine what Twombly's "Leaving Paphos Ringed...

  • Battle for Club Med tests regulator's patience Thursday, 4 Dec 2014 | 9:52 AM ET

    *Club Med tussle is France's longest takeover battle. PARIS, Dec 4- France's financial regulator is speeding up the auction for Club Mediterranee in an effort to end the uncertainty for shareholders, but is likely to hold back from asking for sealed bids for now due to legal risks of a possible tie, lawyers said. The first dates back to May 2013, and the latest was on Dec....

  • LONDON, Dec 4- Bidders including Borealis, Macquarie and Cheung Kong Infrastructure Holdings are lining up multi-billion dollar bids for Fortum's Swedish power grid ahead of a mid-December deadline, sources familiar with the matter told Reuters. Finland's state-controlled utility Fortum is selling its Swedish power grid, which is seen fetching around 6...

  • SINGAPORE, Dec 4- Japanese telecoms firm SoftBank Corp has pumped in $250 million to become the top investor in Southeast Asian mobile taxi-booking application GrabTaxi Holdings Pte Ltd, its biggest investment in a Southeast Asian Internet firm. GrabTaxi, which allows customers to order cabs closest to their location by mobile phone, operates in Singapore,...

  • Dec 3- Herbalife Ltd won preliminary court approval of its $15 million settlement of class-action litigation accusing the maker of weight loss and nutritional products of being a "pyramid scheme" that misleads distributors about how much money they can make. The accord also requires Herbalife to provide up to $2.5 million to distributors who return unused...

  • WASHINGTON, Dec 2- A compromise defense policy bill in Congress would bar the purchase of more Russian-made rocket engines to launch U.S. military satellites, clearing the way for competitive bids for 14 future launches, senior congressional aides said on Tuesday. It also authorizes $63.7 billion in spending for U.S. wars overseas, mainly Afghanistan and the...

  • MEXICO CITY, Dec 2- Uber Inc has signed a deal with billionaire Carlos Slim's America Movil to bring its app, which allows users to summon a car on their smartphones, to new customers in Latin America in a move it says could be a model for other regions. Starting on Tuesday, the Uber app will be promoted on millions of Android phones that use telecoms company America...

  • MEXICO CITY, Dec 2- Uber Inc has teamed up with billionaire Carlos Slim's America Movil telecoms company to bring its app, which allows users to summon a ride on their smartphones, to new customers in Latin America in a move it says could be a model for other regions. Starting on Tuesday, the Uber app will go on millions of Android phones that use America Movil as their...

  • Dec 2- Shares in MOL Global Inc, the first Malaysian company to list in the United States, fell more than 60 percent on Monday after the online payments company reported accounting errors at its Vietnam unit and a 61.5 percent fall in net profit. The company, majority owned by billionaire Vincent Tan and the sultan of the Malaysian state of Johor, is now trading 80...

  • Harold Hamm's billion dollar net loss   Monday, 1 Dec 2014 | 1:58 PM ET
    Harold Hamm's billion dollar net loss

    CNBC's Robert Frank reports Harold Hamm has lost more wealth in 3 months than Eric Schmidt has made in a lifetime.

  • Dec 1- Malaysian online payments company MOL Global Inc said Chief Financial Officer Allan Wong resigned last month for personal reasons, not because of any accounting or financial reporting issues. MOL Global's shares, which were halted on Nov. 24 after the company said it would delay its quarterly earnings report, fell as much as 45 percent to $2.25 after...

  • *Fosun- led consortium offers 23.50 euros/shr for Club Med. PARIS, Dec 1- Chinese billionaire Guo Guangchang on Monday sweetened his bid for Club Mediterranee at the last minute, outbidding Italian tycoon Andrea Bonomi's offer in France's longest-running takeover battle. Bonomi has until 1700 GMT on Dec. 17 to make a counter-offer and a spokesman for Global...

  • BUSINESS-NEWS-SCHEDULE AT 1600 GMT /10.30 AM ET Monday, 1 Dec 2014 | 10:43 AM ET

    Asia, Europe, U.S. factory activity slows despite price cuts. LONDON/ SYDNEY/ NEW YORK- Manufacturing growth across Asia, Europe and the U.S. slowed in November as heavy price cutting failed to revive demand, surveys shows, more evidence that a feeble global recovery may be grinding to a halt. LONDON- Oil prices hit five-year lows as slowing factory activity in China...

  • Dec 1- Malaysian online payments company MOL Global Inc said Chief Financial Officer Allan Wong resigned last month for personal reasons, not because of any accounting or financial reporting issues. Nasdaq-listed MOL Global said on Nov. 20 it would delay its third-quarter earnings report and announced Wong's departure at the same time, without citing a...