U.S. cancer drug company Medivation is discussing opening its books to Sanofi, people familiar with the matter said on Tuesday. » Read More
HONG KONG, Oct 24- Mainland Chinese shares rose on Wednesday, outperforming most Asian peers and lifting the Hong Kong market to just short of a year-high after a survey of purchasing managers showed China's economy making a steady recovery. The China Enterprises Index of the top Chinese listings in Hong Kong was down 0.4 percent.
*Vegas less powerful in casino world after Macau boom. With no full-time staff in Asia and a mission that includes nurturing an industry increasingly dependent on China- controlled Macau, the granddaddy of U.S. gambling regulators may ultimately prove powerless to police a global business of which Las Vegas is no longer the capital, industry veterans said.
MOSCOW-- Ratings agency Moody's has placed Rosneft and TNK-BP on review for downgrade following Rosneft's agreement to by the joint venture between BP and a group of Russian oligarchs. State-owned Rosneft on Monday unveiled a deal to buy TNK-BP, Russia's third-largest oil producer.
STOCKHOLM-- Nordea AB, the largest banking group in the Nordics, has posted a near 70 percent increase in third-quarter profits mainly thanks to higher household lending and a tighter rein on costs, but said loan losses keep growing, especially within shipping and the Danish housing market.
GENK, Belgium, Oct 24- Ford Motor Co is poised to tell unions on Wednesday that it will close its factory in the Belgian town of Genk, which employs 4,300 workers, as it tries to stem losses in Europe and match capacity to tumbling demand.
MELBOURNE, Oct 24- Deutsche Bank has built a 5.2 percent stake in Australian takeover target GrainCorp in recent months, a move that could pay off handsomely as the target's shares have soared and could climb even higher if rival bids appear.
STOCKHOLM-- Swedish truck maker AB Volvo has reported a sharp drop in profits for the third quarter, blaming it on an overall slowdown in demand, warning more cuts in its production rates are possible.
BEIJING, Oct 24- China's economy is making a slow, steady recovery from its weakest period of growth in three years, a survey of purchasing managers signalled on Thursday, with new orders and output at their highest in months.
BRUSSELS-- A union leader said Wednesday Ford Motor Co. has decided to close one of its main factories in eastern Belgium by the end of 2014 in a move that will result in 4,500 direct job losses and 5,000 more among subcontractors.
*Gree and DeNa up after Facebook surprises with mobile revenue. Japanese social gaming sites DeNa and Gree also gained in heavy trade after Facebook Inc said mobile advertising revenue had roughly tripled in the third quarter, reassuring investors who had feared revenues of web-based firms would be hit by the shift to smartphones from personal computers.
*Dow Chemical to cut 2,400 jobs, close 20 plants. NEW YORK, Oct 23- Dow Chemical Co, the largest chemical maker in the United States, said on Tuesday it plans to cut 5 percent of its workforce and shutter 20 plants as part of a restructuring program aimed at countering a slowing global economy.
CANBERRA, Australia-- The head of the Australian subsidiary of Huawei Technologies Ltd. has urged Australia not to be swayed by report from the U.S. Congress that referred to the Chinese telecommunications giant as a potential security risk.
SEOUL, Oct 24- South Korea's SK Hynix Inc booked a smaller-than-expected quarterly operating loss on a jump in demand for chips used in mobile devices like Apple Inc's iPad and iPhone, sending its shares up 4 percent. Those new devices will include Apple's iPad mini, a new version of the iPad and Microsoft's new Windows-based smartphones and tablets.
*HSBC Oct flash China manufacturing PMI signal recovery. TOKYO, Oct 24- Data suggesting a gathering economic recovery in China helped trim declines in Asian shares on Wednesday, though investors stayed risk averse due to weak corporate earnings results worldwide and enduring worries over economic slowdown.
SINGAPORE, Oct 24- Brent crude futures climbed towards $109 a barrel on Wednesday, snapping a six-day losing streak after economic data from China suggested a strengthening recovery in the world's No. 2 oil consumer. Brent crude had risen 46 cents to $108.71 a barrel by 0239 GMT.
DUBAI, United Arab Emirates-- In back-to-back Asian summits this month, Iran's president made sure to carve out special time to look east. At one gathering in Azerbaijan, Mahmoud Ahmadinejad reminded the president of Kazakhstan about the vision of a railway linking the heart of Central Asia with Iran's warm ports.
BOSTON-- Water from a leaking boiler collected just outside a room that was supposed to be sterile. In the meantime, Massachusetts Gov. "Those whose laboratory practices caused this outbreak should never practice pharmacy or manufacture in Massachusetts again," Patrick said.
NEW YORK-- A former Goldman Sachs and Procter& Gamble Co. board member convicted of insider trading will serve up to 10 years in prison if the government has its way but will face no more than community service if a judge is persuaded by defense arguments.
BERLIN-- European Central Bank president Mario Draghi meets German lawmakers Wednesday as he tries to win over public opinion for a controversial bond-buying plan that is designed to keep a lid on the borrowing costs of indebted countries, such as Spain and Italy.