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  • Feb 11- Avon Products Inc reported a bigger-than-expected drop in quarterly sales as it failed to revive demand for its cosmetics in Latin America, casting doubts over the company's ability to turn around without changing its business model. Avon is selling most of its North America business to Cerberus Capital, its biggest investor, after four years of...

  • ANKARA/ DUBAI, Feb 11- Iran's cancellation of a conference when it had been due to unveil investment contracts to international oil firms signals that political feuding is disrupting plans to revive its energy sector. Tehran blamed snags in obtaining British visas for Iranian delegates to the long-delayed conference, which had been scheduled to be held in...

  • MILAN, Feb 11- Prosecutors are investigating five managers at Alphabet Inc's Google as part of a probe into allegations the firm evaded taxes worth 227 million euros in Italy, investigative sources said on Thursday. Meanwhile, tax authorities in some countries, including Italy, are also trying to use existing tax rules to force companies to pay more tax on the...

  • LONDON, Feb 11- UK lawmakers accused Google on Thursday of trying to fool Britons into believing it was a proponent of tax reform while remaining a prime beneficiary of loopholes in existing rules, and said if it was sincere the company would be more transparent over its tax affairs. Google's president for Europe, Middle East and Africa, Matt Brittin, told the...

  • BERLIN, Feb 11- Germany will provide 500 million euros worth of credit to Iraq to help it weather the sharp downturn in global oil prices, Chancellor Angela Merkel said on Thursday after talks with Iraqi Prime Minister Haider al-Abadi. "Germany is ready to do what it can... to stabilize Iraq in view of the big security challenges and economic challenges," Merkel told a...

  • *Iran seen as stumbling block, unlikely to agree-sources. Top exporter Saudi Arabia might be warming to the idea, though it was too early to say whether the kingdom would give its blessing because any deal depends mainly on a commitment by Iran to restrict its plan to boost exports, the sources said. The proposal of a production "freeze" at current levels was floated...

  • MILAN, Feb 11- Italian prosecutors are investigating at least three managers at Alphabet Inc's Google as part of a probe into the company's suspected evasion of taxes worth 227 million euros, investigative sources said on Thursday. Meanwhile, tax authorities in some countries, including Italy, are also trying to use existing tax rules to force companies to pay...

  • NEW DELHI/ MUMBAI, Feb 11- India's turbocharged growth figures have been criticized by many analysts for giving too flattering a view of Asia's third-largest economy. Consumer spending was the main driver behind India's 7.3 percent growth in the October-December quarter, as a pick up in urban spending more than compensated for subdued spending in rual areas...

  • *Nokia warns over China slowdown. HELSINKI, Feb 11- Finnish telecom gear maker Nokia warned that demand for new mobile networks would slow this year in China and said it would not give a financial outlook until April following its acquisition of Alcatel-Lucent. Nokia CEO Rajeev Suri said the company expected market growth this year in North America, India, the...

  • *Iran offers crude to Asia at discount to Saudi Arabia. LONDON, Feb 11- Oil slid on Thursday, dented by record U.S. crude inventories at the Cushing delivery point, worries about the demand outlook, and as Goldman Sachs said prices would remain low and volatile until the second half of the year. In a sign that producers are still competing for market share by lowering...

  • WASHINGTON— Congress voted Thursday to permanently bar state and local governments from taxing access to the Internet, as lawmakers leapt at an election-year chance to demonstrate their opposition to imposing levies on online service. The White House said President Barack Obama will sign it. Since 1998 in the Internet's early days, Congress has passed a...

  • COLOMBO, Feb 11- Just over a year after a new leader was elected and Sri Lanka's business ties with China came under close scrutiny, Colombo is reversing course by resuming a stalled port project and naming Beijing as the front runner for a new special economic zone. India is nervous about losing influence over the island nation off its southern tip, while China's...

  • Taro posts 3Q profit Wednesday, 10 Feb 2016 | 5:33 PM ET

    HAIFA BAY, Israel _ Taro Pharmaceutical Industries Ltd. on Wednesday reported fiscal third-quarter profit of $189 million. The Haifa Bay, Israel- based company said it had profit of $4.41 per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • Mylan to buy Sweden's Meda AB for $7.2 billion Wednesday, 10 Feb 2016 | 4:54 PM ET

    NEW YORK— Drugmaker Mylan says it will buy Meda AB of Sweden for $7.2 billion in cash and stock, and says the move will help it enter new markets. Mylan had $9.45 billion in revenue in 2015 and said Meda's revenue totaled about $2.35 billion. Mylan said the Meda deal will expand its over-the-counter drug business to about $1 billion in annual sales and will bring its...

  • NEW YORK— Professional racecar driver Scott Tucker was arrested Wednesday on criminal charges accusing him of living the high life on the backs of millions of desperate people who used his payday lending operation to get quick cash over the Internet. Authorities said Tucker was arrested Wednesday in Kansas City, Kansas, and would initially appear in court in...

  • *Russia's Sechin floats idea of oil output cuts. NEW YORK, Feb 10 (Reuters)- U.S. oil prices fell on Wednesday, reversing an early rally, and Brent also pared gains as worries about the global supply glut offset encouraging U.S. government data showing a surprise drop in domestic crude stockpiles. "We believe there's been short covering on the headline and we feel we...

  • NEW YORK, Feb 10- Stock indexes worldwide rebounded on Wednesday after concerns eased about the banking sector and Federal Reserve Chair Janet Yellen said the U.S. central bank has plenty of flexibility to adjust monetary policy if needed. Yellen's testimony to Congress boosted sentiment. "What Yellen said has been taken positively," said Richard Sichel, chief...

  • Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and Kremlin oil tsar Igor Sechin proposed producing countries cut output by 1 million barrels per day- without saying whether non- OPEC member Russia would do so. While traders and delegates from OPEC doubt any deal between the group and rival producers- which would be the first in over a...

  • *Health Ministry considering increasing prices of finished drugs. CAIRO, Feb 10- Nahed Ibrahim has scoured Egypt in vain to find a regular supply of medication to help her mother to recover from a stroke she suffered four months ago, since then the 75- year-old has struggled to follow conversations. A weaker currency has also made it more expensive to import raw...

  • Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and the Kremlin's oil tsar Igor Sechin proposed producing countries reduce output by 1 million barrels per day- without saying whether non- OPEC member Russia would cut. While traders and delegates from OPEC doubt any deal between the group and rival producers- which would be the first in...