Legal & Regulatory

Abbott Laboratories Logo at their headquarters

Abbott, Mylan silent on why changing tax-inversion terms

Drugmakers Abbott Laboratories (ABT.N) and Mylan Inc (MYL.O) on Wednesday declined to explain in detail why they changed the terms of a $5.3 billion deal in which Mylan will buy part of Abbott's overseas generics business and reincorporate for tax purposes in the Netherlands.

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Casino

Japan casino bill delayed again; resort opening could miss Olympics: sources

Japan's plan to open up to casino gambling has been delayed again, three people familiar with the process said, dealing a blow to one of Prime Minister Shinzo Abe's policy priorities and to hopes the first resort will open in time for the 2020 Tokyo Olympics.

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U.S. Securities and Exchange Commission (SEC)

Divided SEC adopts mortgage rule, decries lax lending

U.S. securities regulators adopted a rule on Wednesday designed to avert another financial crisis, but two officials dissented, saying it did not do enough to discourage banks from lending to borrowers with shaky credit and then passing the mortgage risk to investors.

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Chinese Brokerage House

Investors seek delay to HK-Shanghai stock tie-up

Some of the world's biggest banks and asset managers have asked the Hong Kong securities regulator to delay a landmark China stock trading link that could generate billions of dollars of trade a day due to uncertainty over the scheme rules, according to a letter seen by Reuters.

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Jean-Claude Juncker

EU's Juncker pledges investment plan for jobs

The incoming head of the EU executive, Jean-Claude Juncker, told the European Parliament on Wednesday that he would present his 300-billion-euro plan for investment to bolster growth and jobs by the end of this year.

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Lean, finely textured beef (LFTB)

U.S. risks trade sanctions in WTO meat label dispute

The United States faces potential trade sanctions from Canada and Mexico after the World Trade Organization ruled on Monday it had failed to bring its meat labeling regulations fully in line with international fair trading rules.

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Tesla Model S car

Michigan becomes fifth U.S. state to thwart direct Tesla car sales

Michigan Governor Rick Snyder signed a bill on Tuesday that will keep electric carmaker Tesla Motors Inc (TSLA.O) from selling its cars directly to consumers in the state, home to the biggest U.S. automakers.

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Steel mill

U.S. to scrap trade deal on Russian steel duties

The U.S. Department of Commerce will terminate a 15-year-old deal sheltering Russian flat-rolled steel producers from high import duties, it said in a letter to Russian authorities.

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Deutsche Lufthansa

Lufthansa pilots threaten more strikes as long haul hit

Lufthansa pilots threatened to call further strikes this week after the latest stoppage in a dispute over retirement benefits grounded two-thirds of its flights on Tuesday.

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FAW-Volkswagen

As China gets tougher on fuel economy, some carmakers may be left behind

Chinese automakers from state-owned FAW Co to Zhejiang Geely are racing to sell more eco-friendly cars as they try to meet tough fuel economy rules due next year as part of Beijing's battle against pollution.

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Sanofi

Actavis, Sanofi among bidders for Omega Pharma

Generic drugmaker Actavis Plc and France's Sanofi SA are among the suitors for privately held Omega Pharma NV [COUCKO.UL], Bloomberg reported, citing people familiar with the matter.

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Europe-Asia summit (ASEM) in Milan

Hope and obstacles as Russia and Ukraine seek gas deal

A tentative agreement between the Ukrainian and Russian presidents has raised hopes of ending a dispute in which Moscow has halted natural gas supplies to Kiev, but several obstacles still have be overcome.

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Eric S. Rosengren

Market action reinforces need for policy patience: Fed's Rosengren

The recent volatility in financial markets reinforces the need for the Federal Reserve to be patient with its policy stimulus and to clearly tie an eventual interest-rate rise to improving economic conditions, a top Fed policymaker told Reuters.

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Bank of England

Banks to get instruction manual for submitting Libor quotes

Banks who submit quotes for compiling Libor interest rates will have to follow a manual of instructions to avoid a repeat of the rigging seen in the past, the benchmark's new administrator said on Monday.

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FCC

Spain's FCC says board approves $1.3 billion rights issue

Spanish builder and services company FCC (FCC.MC) said on Sunday its board had approved a well-flagged capital increase of 1 billion euros ($1.3 billion) which it will use to pay down debt.

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