BEIJING— China has announced it will cut import taxes on clothing, cosmetics and some other goods by half in a new tactic to spur consumer spending. The Finance Ministry said Monday the reductions, which take effect June 1, will be "conducive to a reasonable expansion of imports." Beijing is the midst of a marathon effort to reduce reliance on trade and investment by...» Read More
FRANKFURT, Nov 5- When the European Parliament turned Yves Mersch down for a top central banking post, it wasn't because he lacked the expertise or experience; they rejected him because he is a man. Mersch, a Luxembourger who is highly regarded by his peers, had been expected to get the job on the European Central Bank's all-male board anyway.
The $2.3- billion project by the small, British company London Mining Plc would also bring diesel power plants, a road and a port near Greenland's capital Nuuk.
Nov 5- Tesla Motors Inc reported a bigger third-quarter loss on Monday as it ramped up production of its Model S sedan, and the electric carmaker maintained its 2012 revenue outlook. Tesla said its third-quarter loss had widened to $110.8 million, or $1.05 per share, from $65.1 million, or 63 cents per share, a year earlier.
*Colonial Pipeline: commercial power restored at Linden. *Fuel shortages remain in New York and New Jersey. Commercial power was restored at Colonial Pipeline's key terminal in Linden and the company was delivering to seven terminals on Sunday out of the 20 connected to the facility.
Nov 5- More than 1.3 million homes and businesses along the U.S. East Coast remained without power on Monday a week after Hurricane Sandy slammed into the region. Sandy made landfall in New Jersey on the night of Oct. 29. Power companies said the storm affected about 8.48 million customers, according to a U.S. Department of Energy report.
NEW YORK, Nov 5- On the 19th floor of Consolidated Edison's Manhattan headquarters, the veteran lineman briefing a roomful of 100 out-of-town utility workers had a lot of advice, from the practical to the profane. It was familiar patter for Glenn Nicholas and his co-workers from New Orleans, who had been to New York before to train with Con Edison.
*Hong Kong's gold shipments to China jump in September. ``Obama is supporting Bernanke, and is supporting monetary stimulus,'' Saxo Bank vice president Ole Hansen said. Spot gold was at $1,677.69 at 1131 GMT, up 0.08 percent, having earlier touched a nine-week low of $1,672.24, while U.S. gold futures for December rose $3.10 an ounce to $1,678.30.
Nov 5- U.S. health insurer Humana Inc, which has struggled with the costs associated with a rise in membership in its Medicare Advantage program for older people, reported a lower quarterly profit on Monday, but said its results were better than it had expected.
*Demand slowing in Europe, China. Nov 5- TE Connectivity Ltd reported a higher-than-expected quarterly profit on Monday but said the economic environment was weaker than expected and it will spend $200 million this fiscal year to restructure operations.
ZURICH/ LONDON Nov 5- The new head of UBS's investment bank has stamped his mark on the division with a management reshuffle, days after the Swiss bank said it was pulling back from fixed income trading and cutting 10,000 jobs.
LONDON/ SHANGHAI, Nov 9- Copper hit two-month lows on Monday as the forthcoming U.S. presidential election, a leadership transition in China and two central bank meetings this week kept risk-averse investors on the sidelines of financial markets.
ISTANBUL, Nov 5- Fitch Ratings upgraded Turkey to investment grade on Monday, a move long coveted by Ankara, citing underlying strengths and an easing in near-term risks for the economy.
Nov 5- U.S. health insurer Humana Inc, which has struggled with the costs associated with a rise in membership in its Medicare Advantage program for older people, reported a lower quarterly profit, but said its results were better than it had planned.
The maker of electronic connectors used in cars and consumer devices earned a net $396 million, or 92 cents per share, in the fiscal fourth quarter ended Sept. 28, compared with $326 million or 75 cents per share a year earlier.
LONDON, Nov 5- Business in Britain's dominant service sector grew at the slowest pace in almost two years in October and optimism about the outlook waned, raising the risk that fragile recovery will falter. In turn, this may prompt the Bank of England to announce more stimulus, although probably not on Thursday.
ANKARA, Nov 5- Turkey's annual inflation rate slowed sharply to 7.8 percent in October as monthly price increases were less than expected despite energy price hikes, giving the central bank room to keep easing policy. Ratings agency Fitch said on Monday that Turkey's economy was heading for a soft landing as it upgraded the country to investment grade status.
LONDON-- Director Danny Boyle has joined leading British arts figures urging a cash-strapped local authority not to sell off a valuable Henry Moore sculpture _ arguing it should be erected in London's Olympic Park instead. "Draped Seated Woman" is owned by London's Tower Hamlets Council and stood for years on a public housing complex in the city's East End.
LONDON, Nov 5- World stocks fell and the dollar firmed on Monday as low-risk assets gained at the start of a week in which the United States elects a new president and Greece must navigate a fraught parliamentary vote to secure fresh rescue funds.
LONDON, Nov 5- A U.S. fine for anti-money laundering rule breaches could cost HSBC significantly more than $1.5 billion and is likely to lead to criminal charges, Europe's biggest bank said on Monday.
LONDON, Nov 5- Oil prices slipped to around $105 a barrel on Monday, weighed down by a strong dollar and demand destruction after Superstorm Sandy, while investors remained cautious ahead of the U.S. presidential election. Front-month Brent futures were down 65 cents at $105.03 a barrel at 0946 GMT, while U.S. crude was down 34 cents to $84.52 a barrel.