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  • MILAN, Oct 7- Italian carmaker Fiat said on Tuesday its merger into holding group Fiat Chrysler Automobiles would be effective as of Oct. 12 after all conditions for the tie-up were met. Shares in FCA will start trading on the New York Stock Exchange on Oct. 13, Fiat said in a statement. The stock will also begin trading on the Milan bourse on the same day, subject to the...

  • *Smelters seek $105- 115/ T, and 10.5- 11.5 cents/ lb TC/RCs. LONDON, Oct 7- European copper smelters are looking to raise raw material processing fees by 20 percent next year, as spot market prices race to 10- month highs on rising supplies and a recovery in output from Indonesia, trading sources said. Large copper smelters around the world are expected to seek as much as...

  • CHICAGO, Oct 7- U.S. retail sales are expected to rise 4.1 percent this holiday season to $616.9 billion, outpacing last year's gains, the world's largest retail trade association said on Tuesday. Holiday sales in November and December 2013 rose 3.1 percent, the National Retail Federation said. "Retailers could see a welcome boost in holiday shopping, giving some...

  • Oct 7- Bristol-Myers Squibb said it withdrew its U.S. marketing application for an oral drug combination to treat hepatitis C, citing a "rapidly evolving" treatment landscape in the country. Bristol-Myers is racing against Merck& Co and AbbVie to try and cut the treatment time by half and avoid side effects from older standard drugs interferon and ribavirin.

  • LONDON, Oct 7- The pace of Britain's economic recovery slowed somewhat in the third quarter of this year, the National Institute of Economic and Social Research said on Tuesday. The think tank estimated gross domestic product rose 0.7 percent in the three months to the end of September, less than the 0.9 percent rate of growth in the second quarter but still...

  • WASHINGTON, Oct 7- The European Central Bank's purchases of asset-backed securities could help address the problem of weak lending to small and medium-sized firms in the euro zone, the IMF's chief economist said. "We think that... a good, healthy market would be useful," Olivier Blanchard said at a press conference on Tuesday. ECB President Mario Draghi outlined last...

  • Treasury Secretary Jack Lew on Tuesday appeared largely unmoved by the recent appreciation in the U.S. dollar although he repeated Washington's call on China to stop holding down the value of its currency. The European Central Bank recently has stepped up actions to help the region's economy, putting downward pressure on the euro. Still, he said China's yuan...

  • NATIONAL RETAIL FEDERATION SEES HOLIDAY SALES RISING 4.1 PCT TO $616.9 BLN IN 2014 VS 3.1 PCT SAME PERIOD YEAR AGO.

  • BERLIN, Oct 7- German industrial output in August plunged at its steepest rate since the height of the financial crisis, data showed on Tuesday, while the International Monetary Fund cut its German growth forecast. Combined with Monday's tumbling industrial orders, the news raised further concern that Europe's largest economy is running out of steam.

  • IMF'S MILESI-FERRETTI SAYS EFFECT OF HIGHER U.S.

  • IMF'S BLANCHARD SAYS JAPAN NEEDS TO BOOST PRIVATE DEMAND, FALL IN YEN NOT YET LED TO RISE IN EXPORTS.

  • *London trial of ex UBS, Citigroup trader delayed to May. LONDON, Oct 7- A senior banker at a leading British lender has become the first person to plead guilty to UK charges linked to a global inquiry into the alleged rigging of benchmark Libor interest rates, a scandal that has shredded faith in financial services. The banker, who cannot be named for legal reasons,...

  • BRENT CRUDE FUTURES EXTEND LOSSES, DROP $1.01 TO $91.78/ BBL ON WEAK EUROPEAN DATA.

  • NEW YORK, Oct 7- U.S. stocks fell sharply at the open on Tuesday, pressured by a second straight day of weak data out of Germany, the euro zone's largest economy.

  • UPDATE 7-Oil slips to $92 on weak European data Tuesday, 7 Oct 2014 | 9:33 AM ET

    LONDON, Oct 7- Brent crude oil fell to around $92 a barrel on Tuesday, pushing towards 27- month lows as weak demand and ample supply outweighed price support from a weaker dollar. "There is stagnation in Europe and China is slowing down. It's going to be very difficult for the oil price to rally on that basis, "said Michael Hewson, chief market analyst at CMC Markets in...

  • IMF'S BLANCHARD SAYS ECB PURCHASES OF ASSET-BACKED SECURITIES CAN HELP ADDRESS PROBLEM OF CREDIT TO SMALL AND MEDIUM BUSINESS.

  • LONDON, Oct 7- Dutch lender Rabobank said it has placed two of its London staff on paid leave following an internal investigation into the bank's currency trading practices. "Rabobank can confirm that following an internal review of FX trading activities, two employees of its London branch have been put on paid leave of absence," the bank said in an emailed...

  • BERLIN, Oct 7- Strikes by train drivers' and pilots' unions over pay and conditions in Germany are expected to disrupt travellers and freight inside and outside the country from Tuesday evening. The strike by drivers, which runs from 1900 GMT Tuesday until 0400 GMT on Wednesday, follows two three-hour strikes in recent weeks. "Strikes in rail freight can affect...

  • KIEV, Oct 7- Ukraine's pro-Western government pressed ahead to secure new laws to tackle top-level government corruption on Tuesday, hoping to ease public discontent before an election from which it wants backing for its plan to end a separatist rebellion. The proposed laws- presented by Prime Minister Arseny Yatseniuk ahead of an Oct. 26 parliamentary...

  • MOSCOW, Oct 7- Russia's central bank intervened to defend the rouble on Tuesday after the currency again breached the bank's trading band, as companies starved of foreign currency because of sanctions continued to show robust demand for dollars. The Russian currency has been battered for months by falling oil prices and risk aversion towards Moscow- listed...