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  • BRUSSELS, Oct 7- Online retailer Amazon's tax arrangements with Luxembourg are being investigated by European regulators, becoming the latest global company accused of cutting deals with member states to gain an effective subsidy. There was no immediate comment from Amazon or Luxembourg. The Commission is also investigating similar deals between coffee...

  • LONDON, Oct 7- Gold steadied above $1,200 an ounce on Tuesday as European shares retreated, but a firm dollar, optimism over the U.S. economy and growing bets the Federal Reserve will raise rates in mid-2015 kept investors wary. Spot gold edged down 0.1 percent to $1,205.30 an ounce by 1012 GMT. "The dollar made gold regain the $1,200 threshold but it remains to be seen...

  • LONDON, Oct 7- A senior banker at a leading British bank has pleaded guilty to conspiracy to defraud in connection with the manipulation of Libor benchmark interest rates, becoming the first person in Britain to plead guilty to such an offence. In the United States, the Department of Justice has obtained guilty pleas from two former rates traders of Dutch lender...

  • SEOUL, Oct 7- Privately owned German messaging app Telegram released a Korean-language version on Tuesday to capitalise on a surge in demand from users wary of local apps such as KakaoTalk after the government said it would boost cyber surveillance. Telegram, which advertises its app with the tagline "taking back our right to privacy", does not have any servers in...

  • *China markets shut until Wednesday. LONDON, Oct 7- Copper prices slid on Tuesday as uncertainty about the outlook for growth in top consumer China raised concerns about demand, while a drop in the euro against the dollar also put pressure on metals prices. Heading into the fourth quarter, the focus will be on the strength of demand from top metals user China, which...

  • UPDATE 5-Oil slips towards $92 on weak German data Tuesday, 7 Oct 2014 | 6:04 AM ET

    LONDON, Oct 7- Brent crude oil fell towards $92 a barrel on Tuesday, pushing towards 27- month lows as weak demand and ample supply outweighed the 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...

  • MUMBAI/ PARIS, Oct 7- India's largest utility vehicle maker, Mahindra& Mahindra Ltd, is in exclusive talks to buy the world's oldest maker of motorised two-wheelers from France's PSA Peugeot Citroen. Number two in Europe behind Italy's Piaggio, Peugeot Scooters has been hit by a sales slump caused by the economic crisis, helmets becoming mandatory in the key...

  • *Canada lobbied fiercely against previous proposal. BRUSSELS, Oct 7- The European Commission on Tuesday proposed scrapping a mandatory requirement to label tar sands oil as highly polluting after years of industry opposition. The new proposal abandons one obstacle to Canada shipping crude from tar sands to Europe and is likely to draw strong criticism from...

  • Consumers are being misled by the "natural" label, said Urvashi Rangan, executive director of Consumer Reports Food Safety and Sustainability. Consumer Reports said it had conducted a survey of more than 80 different processed foods containing corn or soy, the two most widely grown genetically engineered crops in the United States, to determine whether...

  • BRUSSELS, Oct 7- EU state aid regulators opened an in-depth investigation on Tuesday into Amazon's tax deals with Luxembourg, saying the arrangements could have underestimated the U.S. online retailer's profits and given it an unfair advantage. The European Commission said Luxembourg's 2003 tax ruling for Amazon's local subsidiary Amazon EU Sarl allowed...

  • Senior banker in UK pleads guilty in Libor probe Tuesday, 7 Oct 2014 | 5:30 AM ET

    LONDON, Oct 7- A senior banker at a leading British bank has pleaded guilty to conspiracy to defraud in connection with the manipulation of Libor benchmark interest rates, becoming the first person in the UK to plead guilty to such an offense. Paul Robson, a British citizen and former senior trader at Dutch Rabobank and his former colleague, Takayuki Yagami, have...

  • Brent reached a low of $91.25 on Monday, its weakest since June 2012 and down from a high above $115 in June, as plentiful supplies of high quality, light crude oil outweighed demand in the Atlantic basin and Asia. Brent was down 40 cents at $92.39 a barrel by 0835 GMT. A supply glut in several markets has overwhelmed worries over a potential impact on oil output of...

  • U.S. prosecutors are also discussing plans to force Deutsche Bank to plead guilty to attempting to manipulate Libor, the interest rate benchmark that underpins trillions of dollars in mortgages, derivatives and consumer credit, the New York Times reported separately, citing legal sources. Deutsche Bank is two years into a turnaround plan launched in 2012...

  • TAIPEI, Oct 7- Taiwan's September exports expanded only half as much as expected, data showed on Tuesday, as weakness in some industrial sectors and stagnant demand from the euro zone offset the dividends from new product launches by Apple Inc. Exports in September grew 4.70 percent from a year earlier, the island's Ministry of Finance said, versus expectations...

  • TOKYO, Oct 7- Bank of Japan Governor Haruhiko Kuroda stressed his resolve to maintain massive stimulus for a prolonged period but shrugged off the need to expand it soon, remaining upbeat on the outlook despite signs the economy may be in a mild recession. Kuroda also stuck to his view that a weak yen is positive for Japan's economy. As widely expected, the BOJ...

  • "Industrial production is currently going through a weak phase... but the current decline is exacerbated by holiday effects," Germany's Economy Ministry said in a statement. Asian shares had made minor gains overnight but the weak data saw European bourses jolt lower, led by a 0.7 percent drop on Germany's Dax which has now lost 7.5 percent in the last three weeks.

  • Hong Kong shares rise again as street protests fade Tuesday, 7 Oct 2014 | 4:15 AM ET

    HONG KONG, Oct 7- Hong Kong shares finished higher for a third day in a row on Tuesday, with investor confidence recovering as pro-democracy demonstrations eased in the wake of a meeting between protest leaders and government officials. The leading percentage winner among H-shares was China Cinda Asset Management Co, which spiked 4.5 percent after Goldman...

  • LONDON, Oct 7- Brent crude oil steadied below $93 a barrel on Tuesday, consolidating after hitting a 27- month low, as worries over abundant supply were balanced by a weaker U.S. dollar. Brent reached a low of $91.25 on Monday, its weakest since June 2012 and down from a high above $115 in June as plentiful supplies of high quality, light crude oil outweighed demand in...

  • Pan Pacific Copper, Japan's biggest copper smelter and a unit of JX Holdings Inc, said on Monday it was aiming for a 5- percent increase in its refined copper output for the second half of the financial year that ends March 31, 2015. "We expect sound demand for reconstruction in northeastern Japan which was ravaged by the giant earthquake and tsunami, and for...

  • *McDonald's Japan forecasts 2014 net loss of 17 bln yen. The announcement brought further gloom for McDonald's Corp, which holds 49.9 percent of McDonald's Japan, and has been struggling globally with falling sales. "Customers have expressed a lack of confidence in our food quality, and I take responsibility for that," McDonald's Japan Chief Executive Sarah...