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  • DALLAS, Dec 9- KFC is expected to open its first restaurant in Tibet next year, as parent Yum Brands Inc looks to expand in the Chinese market and shake off a series of food scares and marketing blunders that have severely dented its sales in the country. The move comes as the owner of the KFC, Pizza Hut and Taco Bell brands prepares to spin off its business in China.

  • "They don't really do all that much better in terms of being tax efficient," said David Nanigian, of The American College and co-author of the study with Dale Domian of York University and Philip Gibson at Winthrop University. That's led to the advent of a $40 billion segment of U.S. equity mutual funds classified as tax-managed. According to the study, published in...

  • JOHANNESBURG, Dec 9- South African President Jacob Zuma removed Finance Minister Nhlanhla Nene from his position on Wednesday, sending the country's currency to a record low. South Africa's economy is barely growing, squeezed by low commodity prices globally and the near certainty of an interest rate rise in the United States next week. Government spending on...

  • WASHINGTON, Dec 9- The U.S. House of Representatives will vote on Friday on stop-gap spending legislation to extend a deadline for action and avoid a government shutdown, a House leadership aide said. U.S. lawmakers are negotiating a $1.15 trillion funding bill to pay for government operations through September, with the deadline for action Friday at midnight,...

  • SAO PAULO, Dec 9- Lawyers for Brazilian banker Andre Esteves, former CEO of BTG Pactual, asked the Supreme Court to reverse his detention order, bank representatives said on Wednesday. The Supreme Court approved his arrest order on Nov. 25 and his detention was made indefinite several days later. Units of BTG Pactual fell 11.6 percent on the Sao Paulo stock exchange...

  • WASHINGTON/ NEW YORK, Dec 9- A pediatric doctor in Alabama had to scramble to find a less expensive supply of a lifesaving drug to treat an infant who was suffering from a parasitic infection. These are two of the stories a U.S. Senate panel heard on Wednesday at a hearing to explore why certain off-patent prescription medicines sold by companies like Valeant...

  • Dec 9- The head of Qatar Airways on Wednesday cast doubt on proposed European Union air traffic agreements that might limit Gulf carriers from flying to European destinations because of what some see as unfair subsidies. Qatar Airways Chief Executive Officer Akbar Al Baker said the effort, which the European Commission announced on Monday, was unlikely to...

  • The legislation, agreed by lawmakers from both political parties and both houses of Congress, stops short of the sanctions for currency cheating which some lawmakers had demanded. It did not pass because of differences between the Senate and House of Representatives versions. Senator Ron Wyden, the top Democrat on the Senate committee responsible for trade,...

  • WASHINGTON, Dec 9- Fiat Chrysler Automobiles NV has agreed to pay $70 million in fines to resolve a U.S. investigation that it failed to disclose vehicle crash death and injury reports, sources told Reuters on Wednesday. The settlement is expected to be announced by the National Highway Traffic Safety Administration as early as Thursday. In July, the automaker...

  • NEW YORK, Dec 9- The dollar fell sharply on Wednesday as speculators betting on euro weakness were hit by comments from European Central Bank policy maker Ewald Nowotny that added doubts about expected monetary policy divergence between the United States and Europe. It was the weakest the dollar has been against the two since a surprisingly robust U.S. jobs...

  • *Dow Chemical, DuPont jump on merger buzz. Dec 9- U.S. stocks closed lower on Wednesday in a choppy session as oil resumed its decline and the S&P 500 index fell through a technical support level ahead of a Federal Reserve meeting next week that is expected to result in an interest rate hike. Computer trading programs kicked in with a wave of selling when the S&P failed...

  • CHICAGO, Dec 9- Illinois House Speaker Michael Madigan said on Wednesday that the state's individual income tax rate may have to go back up to 5 percent to deal with the state's financial woes. "A good place to start would be the level we were at before the income tax expired," he told a big crowd at a City Club of Chicago event. The Chicago Democrat has long been regarded...

  • *OP Trust CEO says danger investors may be overpaying. TORONTO, Dec 9- Canadian pension funds risk overpaying for infrastructure assets in an "overheated" global market if they fail to maintain financial discipline, the head of one of the country's 10 biggest public pension funds said. "If you look at infrastructure as an asset class, it's overcrowded and...

  • Dec 9- A potential marriage of chemicals titans Dow Chemical and DuPont would draw intense scrutiny from regulators in the United States and other countries, but Wall Street welcomed the reported merger talks, lifting shares of both companies by 12 percent. "I look at it like Pepsi and Coca-Cola merging, then splitting into syrup, bottling, and snacks& sundry...

  • VANCOUVER/ BENGALURU, Dec 9- Shares of Canadian yogawear retailer Lululemon Athletica Inc plunged on Wednesday after it warned that profit margins were unlikely to fully recover until 2017 and cut its full-year earnings forecast. But Canaccord Genuity analyst Camilo Lyon said frustration over margin recapture being pushed back to 2017 was likely driving...

  • *Falling oil, stock prices boost Treasuries. *U.S. 10- year auction shows mixed results. NEW YORK, Dec 9- U.S.

  • NEW YORK, Dec 9- U.S. stocks closed down in a choppy session on Wednesday as oil resumed its decline and the S&P 500 fell through a technical support level ahead of a Federal Reserve meeting next that is likely to result in an interest rate hike.

  • *Some estimate up to $6 tln could flow to overseas stocks, bonds. SHANGHAI, Dec 10- It has taken a slump in the property market, a white-knuckle ride on local shares and a currency devaluation, but China's retail investors are finally taking a serious look at overseas stocks and bonds. In November China's foreign exchange reserves drained by their third-sharpest...

  • SYDNEY, Dec 10- Apple Inc is struggling to persuade Australia's big banks to sign up for its Apple Pay mobile payment system, people familiar with the matter say, as the technology giant works from an unfamiliar negotiating position: weakness, not strength. Apple rolled out the service in Australia last month with support for payment cards issued directly by...

  • *Tax rebates helping China exporters undercut overseas rivals. *China steel exports at record levels, stoking trade friction. China's steel exports topped 100 million tonnes for the first time this year, more than four times 2014 shipments from the European Union's largest producer, Germany.