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  • *Shire shares tumble as AbbVie reconsiders bid. Aside from concerns about the global economy, Chicago- based AbbVie said it was reconsidering its $55 billion takeover of the company weeks after the U.S. government moved to curb deals designed to reduce tax, throwing the vitality of merger and acquisition activity into doubt. U.S.-listed shares of Shire tumbled...

  • Angolan oil output squeezed by LNG plant closure Wednesday, 15 Oct 2014 | 10:14 AM ET

    MILAN/ LONDON, Oct 15- The lengthy shutdown of a liquefied natural gas plant is helping push Angola's crude oil exports to their lowest levels since 2006, having clogged offshore platforms with unwanted gas supplies and forced operators to limit extraction. But a more far-reaching consequence of the constraint on oil output could be to deter investor...

  • Oct 15- Major U.S. drugmaker AbbVie Inc said on Wednesday it was reconsidering a $55 billion bid for Ireland's Shire Plc, marking a setback for "inversion" deals in which U.S. companies reincorporate abroad to cut tax costs. Steris Corp said on Monday it has offered to buy Britain's Synergy Health Plc for about $1.9 billion in a deal that would shift Steris' tax...

  • WASHINGTON, Oct 15- Lockheed Martin Corp said on Wednesday it had made a technological breakthrough in developing a power source based on nuclear fusion, and the first reactors, small enough to fit on the back of a truck, could be ready for use in a decade. Tom McGuire, who heads the project, said he and a small team had been working on fusion energy at Lockheed's...

  • U.S. business inventories rise in August Wednesday, 15 Oct 2014 | 10:00 AM ET

    WASHINGTON, Oct 15- U.S. business inventories rose less than expected in August, which might lead economists to lower forecasts for economic growth in the third quarter. The Commerce Department said on Wednesday inventories increased 0.2 percent, the smallest rise since June 2013. Economists polled by Reuters had forecast inventories, which are a key...

  • *Silver reaches cheapest versus gold in 5 years. LONDON, Oct 15- Gold rallied more than 1 percent to a one-month high on Wednesday after soft U.S. data knocked the dollar lower against a basket of currencies and weighed on stock markets, boosting the metal's appeal as an alternative asset. Spot gold was up 0.9 percent at $1,243.95 an ounce at 1348 GMT, while U.S. gold...

  • MOSCOW, Oct 15- Russia's newly announced foreign exchange deposits will carry a term of one month or longer, a senior Finance Ministry official told Reuters on Wednesday. Earlier in the day, the Finance Ministry said that auctions for the new deposits, aimed at smoothing volatility of the rouble, will start within a month. "We're considering a period of one month and...

  • European stock 'fear gauge' surges to 2-year high Wednesday, 15 Oct 2014 | 9:52 AM ET

    PARIS, Oct 15- The Euro STOXX 50 Volatility Index surged to 28.6 on Wednesday, its highest level since mid-2012 as mounting jitters over the strength of the global economy prompted investors to slash exposure to risky assets. Europe's widely-used measure of investor risk aversion known as the VSTOXX- which is based on put and call options on Euro STOXX 50 stocks-...

  • BRENT CRUDE OIL BRIEFLY TURNS POSITIVE, RETRACING LOSSES AFTER BIGGEST ONE-DAY DROP IN OVER TWO YEARS.

  • The Tehran Stock Exchange is "the last, large untapped emerging market in the world", said Ramin Rabii, managing director of Turquoise Partners, a Tehran- based investment firm with around $200 million of assets under management. Talks between Iran and world powers in Vienna this week aim to reach a deal on Tehran's disputed nuclear programme.

  • RUSSIAN FINANCE MINISTRY SAYS FOREX DEPOSIT AUCTIONS WILL BE FOR ONE MONTH OR LONGER- HEAD OF DEPT.

  • Shares of Great Western Bancorp fall in debut Wednesday, 15 Oct 2014 | 9:44 AM ET

    Oct 15- Shares of U.S. regional lender Great Western Bancorp Inc fell about 3 percent in their market debut on Wednesday, valuing the unit of National Australia Bank Ltd at about $1 billion. The stock opened at $18 and touched a low of $17.53 in early trading on the New York Stock Exchange. The shares offered in the initial public offering were priced at $18 apiece,...

  • KUALA LUMPUR, Oct 15- Malaysian Airline System Bhd, the loss-making airline hit by two separate jet disasters this year, said on Wednesday the buyout offer from its major shareholder is fair and minority shareholders should accept the offer. MAS's directors recommended the move after its audit committee, under the advice of independent adviser AmInvestment...

  • *OPEC shows no sign of cutting output to defend oil prices. LONDON, Oct 15- Brent crude hit a new four-year low on Wednesday before recovering to just under $85 a barrel, as faltering global growth curbed demand for fuel at a time of heavy oversupply. Brent for November delivery touched a fresh post-2010 low of $83.37, down $1.67, before recovering to around $84.80 by...

  • MUMBAI/ LONDON, Oct 15- India's Tata Steel Ltd is in talks to sell loss-making European operations including mills in northern England and Scotland to Geneva- based Klesch Group, as it battles weak prices and tentative economic recovery. Tata, Europe's second-largest steel producer, said in a statement it had agreed to negotiate with Klesch over its Long...

  • NEW YORK, Oct 15- U.S. stocks opened sharply lower on Wednesday as economic data reinforced concerns about the health of the world economy and that corporate merger activity may be slowing.

  • Retail consultancy Verdict predicts the global sector should return to growth in 2014 and expand by 22 percent to about $450 billion by 2019. The recovery will be driven by expansion in emerging markets, with China set to account for 30 percent of total spend five years from now. Pioneered in France, Britain and the United States from around the 1840 s by...

  • *Caution reigns after disappointing China inflation reading. LONDON, Oct 15- Global stocks, bond yields and commodity prices slumped on Wednesday as investor fears over the state of the global economy intensified after U.S. producer prices fell for the first time in more than a year. Market volatility has surged in recent weeks as investors weigh the timing of...

  • NEW YORK, Oct 15- U.S. "There was a trifecta of weak data this morning: several disappointments in sales, manufacturing and prices," said Kim Rupert, managing director of Action Economics in San Francisco. Yields rose sharply in early New York trading after the U.S. Commerce Department reported that U.S. retail sales declined 0.3 percent in September, a surprisingly...

  • *U.S. retail sales fall, even when excluding cars, gasoline. WASHINGTON, Oct 15- U.S. retail sales declined in September and prices paid by businesses also fell, worrisome signs that consumer demand may be faltering while inflation is failing to gain traction. Total retail sales dropped 0.3 percent, the Commerce Department said.