LAS VEGAS-- With billions of dollars at stake, the head of the gambling industry's main lobbying group sounded a pessimistic note Tuesday about the prospect of Congress passing Internet regulatory laws this year.
NEW YORK, Oct 2- Oil prices fell in choppy, light trading on Tuesday, pressured by the outlook for weak economic growth and petroleum demand, even as the risk of potential crude supply disruptions limited losses. "Profit taking out of gasoline had a significant influence on market tone today," said Timothy Evans, energy analyst at Citi Futures Perspective in New York.
Grassley's letter comes as the Justice Department, Commodity Futures Trading Commission and the United Kingdom's Financial Services Authority continue to probe whether banks colluded to manipulate the London interbank offered rate, which underpins trillion of dollars in contracts and loans-- from U.S. mortgages to Japanese interest-rate swaps.
The first sign of trouble showed up last Wednesday, when crews noticed loose seats on a plane that had flown from Dallas-Fort Worth International Airport to Vail, Colo. The seats were tightened again that day in Boston. The same plane had to make an emergency landing Monday when seats came loose shortly after takeoff on a New York- to- Miami flight.
*India is largest source of migrants to Australia. SYDNEY, Oct 3- India's wealthy, from old money to nouveaux riches IT entrepreneurs, are quietly snapping up hotels and mines Down Under just as Australia embarks on an immigration campaign to attract long-term investment.
LONDON, Oct 2- Trader Glencore has formally notified the European Commission of its $33 billion plan to take over miner Xstrata, sources familiar with the matter said, after months of preliminary talks designed to pave the way for a swift approval.
NEW YORK-- The price of oil fell Tuesday as investors weighed positive U.S. economic news against ongoing concerns about Europe. On the New York Mercantile Exchange:. Benchmark crude fell 59 cents to finish at $91.89 per barrel.
The country's largest fertilizer company, Mosaic, said weak demand from China and India have hurt its profits. Mosaic, Dupont and stocks of other companies in the materials industry fell. Dupont led the Dow lower, sinking 86 cents to $49.50.
Global economic growth has slowed this year, curbing fuel demand growth in Asia, Europe and the United States. The euro strengthened against the dollar a second straight session on growing expectations the euro zone's fourth-largest economy, Spain, will seek a bailout.
LONDON, Oct 2- Britain's mobile operators have put aside their hostilities and agreed to accelerate the roll-out of super fast broadband to prevent Britain from falling further behind in the race for connectivity.
Benchmark oil dropped 59 cents to end at $91.89 per barrel in New York. Brent crude, which is used to price international varieties of oil, fell 62 cents to $111.57 per barrel in London. At the pump, the national average for gasoline was unchanged at $3.78 per gallon, according to AAA, Wright Express and the Oil Price Information Service.
*Albania angry with CEZ unit for not importing power. CEZ Shperndarje holds a monopoly on power distribution to 1.1 million homes in Albania and is bound by law to use imports to make up for any power losses- from technical faults or theft- in its grid in the hydro-dependant Balkan nation.
MILAN, Oct 2- Fashion designer Giorgio Armani is taking direct control of his sales business in Britain to improve efficiency in the retail sector, which has become a revenue-spinner for luxury makers amid economic turmoil.
By Chris Reese and Ana Nicolaci da Costa ADVISORY- Reuters plans to discontinue its daily report on the money markets in New York as of Oct. 15. NEW YORK/ LONDON, Oct 2- The U.S. Treasury sold $40 billion of four-week bills at a high rate of 0.1 percent, up from 0.055 percent in a similar sale last week and the highest since a four-week bill auction on Sept. 5.
Reinsurers sold $3.8 billion of protection through the credit default swap market last year, down sharply from a peak of $20.3 billion in 2003, the International Association of Insurance Supervisors said in a report.
WASHINGTON, Oct 2- Firms responsible for the 2008 financial crisis will face more government lawsuits, federal and state officials said on Tuesday, a day after New York state sued JPMorgan Chase& Co for fraud over mortgage-backed securities packaged and sold by Bear Stearns.
*Brazil's Somar: flowering bodes well for 2013 coffee crop. NEW YORK/ LONDON, Oct 2- Arabica coffee futures soared nearly 4 percent to a 10- week high on Tuesday, on heavy short-covering prompted by concerns of dry weather in top grower Brazil, while raw sugar extended the previous session's steep gains.
BERLIN-- Germany's government appears to be putting the brakes on any request by Spain for help from its European partners in managing its debts, wary that its lawmakers might balk at having to vote on yet another bailout for a struggling eurozone nation.
--Group 1 Automotive Inc.' s credit measures, in our opinion, have the potential for continued modest improvement in the year ahead. --We are revising our' BB' rating outlook on Group 1 to positive from stable. Rating Action On Oct. 2, 2012, Standard& Poor's Ratings Services revised its rating outlook on Houston- based automotive retailer Group 1 Automotive Inc..
*Spain seen requesting bailout, but uncertainty weighs. NEW YORK, Oct 2- The euro rose against the dollar on Tuesday on expectations that a request by Spain for a bailout is imminent, but major stock markets fell on uncertainty of when Madrid will make its request and growing uneasiness over third-quarter earnings.