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  • *Jimmy Choo growth promises staked on declining China. LONDON/ PARIS, Oct 16- Luxury shoemaker Jimmy Choo is expected to set its London flotation price at 140 pence a share, the bottom of its indicative range, two sources familiar with the matter said on Thursday, amid declining enthusiasm for new issues. Fund managers have also expressed concern that Jimmy Choo had...

  • RPT-Buffett cuts Tesco stake to below 3 pct Thursday, 16 Oct 2014 | 6:20 AM ET

    LONDON, Oct 16- Warren Buffett, the billionaire chairman and chief executive of conglomerate Berkshire Hathaway, has cut his vehicle's stake in troubled British grocer Tesco to below 3 percent, according to a stock market notification. The filing, published on Thursday, said that on Oct. 13 Berkshire reduced its Tesco holding to "less than 3 percent."

  • BOSTON, Oct 16- Some of Wall Street's biggest names are licking their wounds as October lives up to its reputation as one of the market's roughest months. Morgan Stanley strategists said this week that their model portfolio through Monday had trailed the S&P by 3.6 percentage points due to bad bets on technology stocks, including GT Advanced Technologies, the...

  • BRASILIA/ RIO DE JANEIRO, Oct 16- An iron-ore mining company controlled by Brazilian tycoon Eike Batista filed for bankruptcy on Wednesday, the third time in a year that a unit of the former billionaire's EBX industrial group has sought protection from creditors. MMX Sudeste Mineracao SA, the company that made the petition, holds nearly all the significant...

  • Las Vegas Sands 3Q revenue drops, profit grows Wednesday, 15 Oct 2014 | 4:54 PM ET

    LAS VEGAS— International gambling destination Macau continued to pose a challenge for casino giant Las Vegas Sands Corp. in the third quarter. Sheldon Adelson, the company's CEO and chairman, remained bullish on Macau and expansions into other Asian gambling markets during a conference call with investors and analysts Wednesday. But the win-rate at the Las...

  • Hedge funds bleed as AbbVie reconsiders Shire bid Wednesday, 15 Oct 2014 | 11:51 AM ET

    LONDON, Oct 15- Some of the world's best known hedge funds lost hundreds of millions of dollars in the value of the stock they hold as Shire plunged after AbbVie's decision to reconsider its $55 billion bid for the British healthcare group. Chicago- based AbbVie was eager to buy Shire to reduce its U.S. tax bill by moving its tax base to Britain. "It seems Abbvie is...

  • HONG KONG, Oct 15- China Resources Holding Co Ltd's new chairman has met with at least 10 provincial governments since taking the helm six months ago- a charm offensive that is helping the state-owned conglomerate move past a major corruption scandal. The campaign by the politically connected Fu, formerly chief of China Merchants Group, which is also a sprawling...

  • Democratic ads off the air in Kentucky Senate race Wednesday, 15 Oct 2014 | 3:11 AM ET

    FLORENCE, Ky.— The Democratic Senatorial Campaign Committee has stopped running TV ads in Kentucky's U.S. Senate race, a severe blow to Alison Lundergan Grimes in her challenge to Republican leader Mitch McConnell. The committee's decision in Kentucky was in strong contrast to its activities in other states with pivotal Senate races. Democrats continued to...

  • Parent company Trump Entertainment Resorts Inc has said trimming $14.6 million from its annual union pension and healthcare costs is key to save the casino from becoming the fifth to close this year in the seaside resort. Atlantic City has lost thousands of jobs this year and Trump Entertainment has warned it could be forced to begin winding down the Taj Mahal...

  • UPDATE 2-Iliad shares jump after T-Mobile bid scrapped Tuesday, 14 Oct 2014 | 1:41 PM ET

    *Bouygues up 4.6 pct, Orange up 3 pct. Backed by billionaire founder Xavier Niel, Iliad made an initial bid worth $15 billion and then raised it but was rebuffed by T-Mobile US's majority owner Deutsche Telekom. Bouygues' shares closed up 4.6 percent at 25.64 euros on Tuesday while shares in mobile market leader Orange closed up 3 percent at 11 euros on hopes that it...

  • *Bouygues up 3.8 pct, Orange up 1.4 pct. The aborted U.S. foray is seen favourably by Iliad investors because many would prefer Niel focus on organic growth at home and pursue mobile consolidation by reviving talks with struggling number three mobile player Bouygues. Bouygues shares rallied 3.9 percent at 0859 GMT.

  • European shares resume slide, Iliad surges Tuesday, 14 Oct 2014 | 4:34 AM ET

    PARIS, Oct 14- European stocks fell early on Tuesday, losing ground for the seventh time in 10 sessions and tracking steep losses on Wall Street as investors fret about the strength of the global economy. British luxury brand Burberry was among the top losers in Europe, down 4.4 percent after warning that market conditions were becoming more difficult, partly...

  • Iliad shares leap after failure to win US mobile prize Tuesday, 14 Oct 2014 | 3:28 AM ET

    Backed by billionaire founder Xavier Niel, Iliad made an initial bid worth $15 billion and then raised it further, but was rebuffed by T-Mobile US parent company, Deutsche Telekom. The aborted U.S. foray is seen favourably by Iliad investors because many would prefer Niel focus on organic growth at home and pursue mobile consolidation by reviving talks with...

  • Icahn aide: Taj has to close if union pact remains Tuesday, 14 Oct 2014 | 2:30 AM ET

    Trump Entertainment Resorts and billionaire investor Carl Icahn want the judge to cancel the casino's union contract, saying it can't survive without shedding costly pension and health care obligations. Bankruptcy Judge Kevin Gross on Tuesday that Trump Entertainment needs the financial relief that breaking the union contract would provide.

  • MILAN, Oct 13- Luxottica Chairman Leonardo Del Vecchio on Monday took over management of the company he founded half a century ago after the world's biggest eyewear maker by sales lost its second chief executive in as many months. The maker of Ray-Ban and Oakley sunglasses announced on Sunday that CEO Enrico Cavatorta was quitting only six weeks after the...

  • Casino woes bring deep discounts in Atlantic City Monday, 13 Oct 2014 | 1:25 PM ET

    —THE PIER SHOPS AT CAESARS: Philadelphia developer Bart Blatstein is buying the multi-level shopping and entertainment pier that juts out over the ocean for $2.8 million, according to a source with knowledge of the deal, speaking to The Associated Press on condition of anonymity because the person was not authorized to discuss it publicly.

  • MILAN, Oct 13- Shares in Italy's Luxottica fell as much as 10 percent on Monday after the resignation of its second chief executive in as many months, exposing deepening tensions at the top of the world's biggest eyewear group. The maker of Ray-Ban and Oakley sunglasses announced on Sunday that CEO Enrico Cavatorta was quitting only six weeks after the...

  • *Agile Property shares close down 17.2 pct. HONG KONG, Oct 13- Chinese developer Agile Property Holdings Ltd, battling an industry slowdown and speculation about ties to China's former security chief, said it is in talks with banks about extending a bridge loan and the founder's family would commit to lending $200 million. Agile said Chen- whose family wealth of...

  • Zuckerberg in Indonesia for Internet-access push Monday, 13 Oct 2014 | 3:40 AM ET

    JAKARTA, Indonesia— On his first visit to Facebook-crazy Indonesia, Mark Zuckerberg met the president-elect, spread the word about his company's global Internet-access initiative and posted a photo of himself at an ancient Buddhist temple. The Facebook CEO arrived Sunday, when he climbed Borobudur temple in Central Java and posted a widely shared photo of...

  • *Agile Property shares drop more than 20 pct. HONG KONG, Oct 13- Chinese developer Agile Property Holdings Ltd, battling an industry slowdown and media speculation about ties to China's former security chief, said it was in talks with banks about extending what remains of a $475 million loan due in December. Agile said Chen- whose family wealth of $3.2 billion was...