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  • Jan 5- Texas tycoon Sam Wyly is set to face off against the Internal Revenue Service at trial on Wednesday over more than $2 billion the agency says he owes for using offshore trusts to engage in one of the largest tax frauds in U.S. history. In April, the IRS filed claims asking the Wylys for a total of $3.22 billion in back taxes, penalties and interest, $2.03 billion of...

  • *Orange and Bouygues Telecom confirm talks. The negotiations accompany a softened line on sector consolidation from the government, which holds 25 percent of Orange, after it opposed a 10 billion euro bid last year for Bouygues Telecom by tycoon Patrick Drahi's Numericable-SFR. Former state monopoly Orange held three-way talks with Iliad and Bouygues about...

  • MILAN/ LONDON, Jan 5- European shares edged lower on Tuesday, giving up earlier gains as uncertainty over China continued to weigh on sentiment, while gains among telecoms and miners provided some support. European equities tried to bounce back in early deals following a stabilisation in China, a day after poor Chinese factory data triggered a global sell-off.

  • CLECKHEATON, England, Jan 5- Eric Simpson, the owner of a furniture recycling firm in northern England, once believed in the European Union. Now he's unsure how to vote in a referendum on Britain's future in the bloc, reflecting growing doubts among the business community. But sitting in the showroom of his Over2Hills business in the Yorkshire town of Cleckheaton,...

  • *VW could face fines in theory reaching $90 billion. WASHINGTON/ FRANKFURT, Jan 5- The U.S. Justice Department has sued Volkswagen for up to $90 billion for allegedly violating environmental laws- five times regulators' initial estimate and a reminder of the carmaker's problems nearly four months after its emissions scandal broke. VW could face fines of as much as...

  • SINGAPORE/ HONG KONG, Jan 5- Barclays Plc will announce job cuts in its investment banking businesses across Asia, including closing the businesses in Korea and Taiwan, people with direct knowledge of the matter told Reuters, in the latest cuts for the London- based lender in the region. If any firm decisions are made, we will provide an update, "a Hong Kong- based...

  • LONDON, Jan 5- Global investment banking fees fell 8 percent in 2015 compared to a year earlier, with a boom in mergers and acquisition activity failing to offset a slump in equity and debt capital markets fees, Thomson Reuters data published on Tuesday showed. Regionally, fees in Europe declined 16 percent compared with a year ago, Asia Pacific fees fell 12 percent...

  • *Gold jumped as much as 2.2 pct on Monday. *China stock indexes close mixed, European shares up. LONDON, Jan 5- Gold rose on Tuesday as a wave of risk aversion due to growth worries in China and rising tensions in the Middle East triggered demand for the metal.

  • *China injects $20 billion after stocks sell-off. LONDON, Jan 5- Copper rose off two-week lows on Tuesday as China pumped in an estimated $20 billion to stabilize its equity and currency markets, though worries over slowing demand in the world's top metals user kept gains firmly in check. China stocks closed mixed thanks to the huge cash injection, but the yuan fell...

  • BRUSSELS/ FRANKFURT, Jan 5- Euro zone core inflation slowed for the second month in a row in December, a big headache for the European Central Bank, which has printed hundreds of billions of euros to kick-start price growth with little to show for it. Meanwhile core inflation, closely watched by policy hawks like Germany's Bundesbank, eased to 0.8 percent from 0.9...

  • *Shares in M&S, Debenhams also lower. LONDON, Jan 5- British clothing retailer Next reported disappointing sales in the run-up to Christmas, with the normally reliable company blaming unusually warm weather for a slowdown that is expected to have hit the wider sector. Next has been the strongest player in Britain's clothing sector for a decade and its shares fell...

  • *Middle East tensions rise as Kuwait recalls Iran ambassador. LONDON, Jan 5- Oil prices fell on Tuesday on concerns about the pace of economic growth in China and a stronger U.S. dollar, handing back some of the gains triggered by an escalation of tensions in the Middle East. "It is the Chinese stock market sell-off and the strong dollar that are pressuring oil," said...

  • SHANGHAI, Jan 5- China's industry and commerce regulator has asked Microsoft Corp to explain "major issues" that it says have come to light from digital data obtained as part of an anti-trust investigation. The SAIC move, coming more than a year after the investigations were first launched, could signal new uncertainties for Microsoft in China as it attempts to...

  • *China injects $20 billion after Monday's selloff. LONDON, Jan 5- World stocks inched up from 2-1/ 2- month lows on Tuesday as China pumped in an estimated $20 billion to stabilise its equity and currency markets, which recorded the worst opening day's trade in years in the previous session. "China's actions are certainly positive at the margin... but overall the risk...

  • LONDON, Jan 5- The euro fell towards a one-month low against the dollar on Tuesday, as risk appetite stabilized following a volatile Monday when weak Chinese data and a breakdown in relations between Saudi Arabia and Iran prompted a stock market sell-off. But world stocks inched off 2-1/ 2 month lows on Tuesday as China pumped in an estimated $20 billion to...

  • *FTSEurofirst 300 index rises 0.6 percent. LONDON, Jan 5- European shares bounced back on Tuesday after a rally in mining and telecom stocks and some stabilization in Chinese markets, a day after poor Chinese factory data triggered a sharp sell-off that hit world markets. The CSI300 index of the largest listed companies in Shanghai and Shenzhen closed 0.3...

  • The People's Bank of China set the midpoint rate at 6.5169 per dollar prior to the market open, weaker than the previous fix of 6.5032 and the weakest level since April 2011. It was trading at 6.52 per dollar at 0830 GMT in Shanghai. "It's quite obvious that the central bank has intervened in the market via big Chinese banks in the morning and trading was very active,"...

  • BERLIN, Jan 5- German unemployment fell by more than expected in December, figures released by the Federal Labour Office on Tuesday showed, signaling the health of the job market in Europe's largest economy. The seasonally adjusted unemployment total last month fell by 14,000, more than double the 6,000 figure forecast in a Reuters poll of economists.

  • Spanish Prime Minister Mariano Rajoy

    Spain's acting Prime Minister Mariano Rajoy said on Tuesday he saw no alternative to a repeat of elections in Catalonia.

  • Bouygues said in a separate statement it had signed a confidentiality agreement with Orange. "As it is interested in opportunities that would enable it to bolster its long-term presence in the telecoms sector, Bouygues announces that preliminary discussions have started with Orange to look at the possible options," Bouygues said. French Economy Minister...