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  • SYDNEY, Oct 8- The safe-haven yen held firm early on Wednesday, having risen broadly as risk appetite waned in the wake of a plunge in German industrial output and after the IMF cut its global economic growth forecasts for a third time this year. At the same time, the IMF nudged its global growth forecast down to 3.3 percent for this year from 3.4 percent, warning of...

  • Treasury Secretary Timothy Geithner on Tuesday defended the government's rescue of American International Group Inc in September 2008, saying it was necessary to prevent the country from plunging into a second Great Depression. Geithner's comments came in testimony in the trial of a lawsuit brought by Hank Greenberg, a major AIG shareholder until the...

  • CHICAGO, Oct 7- Wealthier U.S. shoppers are likely to drive the most bountiful holiday season in three years as retailers slash prices to cope with tighter budgets, analysts said on Tuesday, as a new survey showed 2014 retail sales rising 4.1 percent. The National Retail Federation predicted retail sales would climb to $616.9 billion, outpacing last year's 3.1...

  • PARIS, Oct 7- Airbus Group on Tuesday sketched out the opening steps of a plan to unwind its 46 percent holding in Dassault Aviation, saying it was weighing the possibility of selling a 10 percent stake by placing it with financial institutions. "That provides an obvious route for a partial exit," Airbus Group's head of corporate communications Rainer Ohler said.

  • Oct 7- Shares of Herbalife Ltd tumbled 3.4 percent on Tuesday after a news report that the U.S. Federal Trade Commission could move against the nutritional products maker, although there was no sign regulatory action was imminent. The commission started an inquiry into Herbalife's operations in March after activist investor William Ackman called for...

  • NEW YORK, Oct 7- The Federal Aviation Administration expects to issue safety approval for the newest jetliner from Europe's Airbus Group, the A350, by the end of this month, a spokesman said on Tuesday. "The FAA anticipates being able to issue the A350 type certificate during the latter part of October," the spokesman said by email in response to a Reuters query.

  • WASHINGTON, Oct 7- More than 80 environmental, labor and civic groups on Tuesday urged eBay Inc to end its association with the political group the American Legislative Exchange Council, weeks after Google Inc abruptly left ALEC over its views on climate change. "The Google announcement made it difficult for some of these companies to hide in the shadows anymore,"...

  • YANGON/ SINGAPORE, Oct 8- Myanmar has thrown open the door to foreign banks, but weak credit protection and tight restrictions on lending mean it's not a warm welcome, at least not yet. Nevertheless, with growth forecast at an annual 8.5 percent over the next few years, according to the International Monetary Fund's latest projections, and an economy where bank...

  • NEW YORK, Oct 7- Global equity markets fell sharply on Tuesday and oil slipped to near 27- month lows as investors shifted funds into safe-haven government debt after more poor economic data from Europe heightened concerns about worldwide demand. Wall Street's primary benchmark, the S&P 500, fell 1.5 percent to close at its lowest level in nearly two months.

  • NEW YORK, Oct 7- The U.S. Supreme Court will hear arguments on Wednesday on whether companies have to pay workers for time spent undergoing security checks, in a case challenging how hourly employees are compensated for tasks outside the regular work shift. Employees of Integrity Staffing Solutions, an Amazon.com Inc contractor handling merchandise shipped...

  • NEW YORK, Oct 7- Dow Jones& Co on Tuesday won a $5 million judgment against the London- based service Ransquawk, which it accused of pirating its content by broadcasting news within seconds of publication to traders and other subscribers. He imposed the $5 million judgment on Tuesday. Ransquawk, which is the nickname for Real-Time Analysis& News Ltd, operates a "...

  • CRUDE OIL FUTURES EXTEND LOSSES AFTER API DATA SHOWS LARGE BUILD IN CRUDE STOCKS.

  • NEW YORK, Oct 7- U.S. stocks ended sharply lower on Tuesday, with major indexes falling 1 percent in heavy trading, as weak data out of Germany raised concerns about the strength of global growth ahead of the start of earnings season. Joy Global Inc fell 4.2 percent to $51.69 while Caterpillar Inc lost 3.4 percent to $94.70 as the biggest decliner on the Dow.

  • BOSTON/ NEW YORK, Oct 7- Before hiring star bond fund manager Bill Gross last month, Janus Capital Group Inc Chief Executive Dick Weil took care to check with the bond chief he already had, Gibson Smith. The two will operate two distinct business units, with Gross operating out of a Newport Beach, California office, which Smith called " Janus West." Smith works from Janus...

  • In January, Mexico said it had launched a probe of 270 companies, with a focus on seven, for allegedly exploiting legal tax loopholes that have leaked income out of Mexico for years. Reuters reported last month that the world's largest household products maker, Procter& Gamble, and No. 2 toymaker, Hasbro, were at the heart of the probe, which could cost the firms...

  • WASHINGTON, Oct 7- Severe delays and inconvenience for millions of taxpayers could result in 2015 if the U.S. Congress fails to deal soon with a list of temporary tax laws that expired at the end of 2013, the Internal Revenue Service and a key senator warned on Tuesday. Known as the "extenders," the more than 50 expired tax laws are in limbo, waiting for Congress to...

  • TORONTO, Oct 7- U.S. billionaire investor Wilbur Ross is looking at investing in the Canadian and U.S. energy sectors, betting a long-term recovery in oil prices will boost the fortunes of small and mid-cap companies whose shares have been battered since June. Ross, who made his name by snapping up out-of-favor assets ranging from banks to textile firms, told...

  • The decision, from the 9th U.S. Circuit Court of Appeals in San Francisco, came one day after the U.S. Supreme Court let stand similar rulings from appeals courts in other parts of the country.

  • Treasuries yields plunged Tuesday, with long-dated yields hitting their lowest since May of last year, after fresh signs of economic weakness in Germany and a lower International Monetary Fund global growth forecast fueled safe-haven bids. German industrial production plunged 4.0 percent in August, the Economy Ministry said, the biggest drop since...

  • NEW YORK, Oct 7- World oil prices resumed a months-long rout on Tuesday to close at their lowest in more than two years, pressured by reduced economic and demand growth forecasts. The International Monetary Fund cut its global economic growth forecasts for the third time this year, warning of weaker growth in core euro zone countries, Japan and Brazil.