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ImClone backs $6.5bn Eli Lilly bid (06 October 06:45) |
| Eli Lilly has agreed to take over ImClone for $70 a share in cash, valuing the cancer drug maker at about $6.5bn and trumping an unsolicited bid from Bristol-Myers BMY. |
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Wall St set to follow world markets down (06 October 06:30) |
| Wall Street stocks were set for a sharply lower start on Monday as heightened concerns that the financial crisis was deepening around the globe outweighed another round of authorities' inter... |
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Government action fails to halt global sell-off (06 October 06:20) |
| Stocks suffered sharp falls on Monday, as worries about the extent of the crisis in the sector deepened after finance ministers failed to reach a consensus on how to react. |
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Oil sinks below $90 a commodities retreat (06 October 04:40) |
| US crude oil prices fell below the $90 a barrel level on Monday, leading a broad retreat across energy, metals and grains as commodities found themselves battered by the ongoing storm sweepi... |
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Crisis hits global banking shares (06 October 04:40) |
| European financial stocks suffered sharp falls on Monday, as worries about the extent of the crisis in the sector deepened after finance ministers failed to reach a consensus on how to react... |
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European banks tumble on credit fears (06 October 04:25) |
| European financial stocks cratered on Monday, as worries about the extent of the crisis in the sector deepened after finance ministers failed to reach a consensus on how to react. |
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Asian stocks sink on gloomy outlook (06 October 03:55) |
| Asia-Pacific markets sank on Monday as investors focused on growing concerns about a global recession and the lengthening list of banks falling victim to the credit crisis, leaving the passi... |
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Risk aversion boosts yen (06 October 02:35) |
| Currency trading sounded a highly risk-averse tone on Monday as global equity markets sank on doubts over whether rescue deals to save stricken financial institutions and avert recession wou... |
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Banking stocks plummet across Europe (06 October 02:15) |
| European financial stocks suffered sharp falls on Monday, as worries about the extent of the crisis in the sector deepened after finance ministers failed to reach a consensus on how to react... |
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Citigroup and Wells Fargo open talks (06 October 09:40) |
| Citigroup C and Wells Fargo have opened talks to resolve their bitter dispute over the takeover of a Wachovia in a move that could lead to a break-up of the sixth-largest lender in the US. |
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Asian stocks begin week sharply lower (06 October 08:35) |
| Asia-Pacific markets slid on Monday as investors focused on growing concerns about the global economic outlook and ignored the passing of the US-government sponsored bailout plan. |
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Citigroup wins first round in Wachovia battle (06 October 05:35) |
| Citigroup C has won the first round in a bitter match with Wells Fargo over the takeover of Wachovia after a New York court gave it more time for exclusive negotiations with the sixth-larg... |
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Fed under pressure to do more on credit crunch (06 October 04:30) |
| The Federal Reserve and US Treasury were on Sunday night under increasing pressure to follow passage of the $700bn financial rescue plan with further measures to shock the ailing credit mark... |
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Lehman failed to convince Fed on survival plan (06 October 04:05) |
| Lehman Brothers LEH lobbied the US Federal Reserve this summer to be given access to much-needed liquidity, but was unable to convince the regulators, just two months before the Fed endorsed... |
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Behind the scenes of a collapse (06 October 04:05) |
| Lehman Brothers LEH tried to cultivate a longer list of takeover suitors than its eventual collapse into bankruptcy might suggest, the Financial Times has learnt. But that only twists the kn... |
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Lehman chief to face music on Capitol Hill (06 October 04:05) |
| Richard Fuld, the Lehman Brothers LEH chief executive who has kept a low profile since the collapse and bankruptcy of the once-venerable Wall Street bank, is expected to appear on Capitol Hi... |
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Business urged to improve cash reporting (06 October 03:20) |
| Companies must step up reporting of their cash positions or risk losing investor confidence, according to a group of leading analysts. They warn that the disclosures are crucial as solvency ... |
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Warner in online move to stop DVD piracy (06 October 03:20) |
| Warner Brothers Entertainment has begun releasing its films online in South Korea before they are released in the country on DVD, shaking up an established Hollywood distribution model and p... |
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Another scoop for Tina Brown as she swaps print for web (06 October 03:20) |
| The struggling US magazine industry is losing one of its biggest cheerleaders to the web as Tina Brown trades the glossy pages and lengthy essays of her past career for the hyperlinks and bl... |
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New law extends legal mandate for intervention (06 October 01:35) |
| The US authorities intend to use new powers contained in the $700bn bail-out legislation signed into law on Friday to prevent the disorderly failure of any more systemically important financ... |
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US Treasury to take first step in bail-out (06 October 01:00) |
| The US Treasury could as early as Monday take the first big step towards the implementation of its $700bn plan to buy troubled assets from ailing financial companies by outlining the guideli... |
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Citigroup wins first round for Wachovia (06 October 12:35) |
| Citigroup C has won the first round in a bitter match with Wells Fargo over the takeover of Wachovia after a New York court gave it more time for exclusive negotiations with the sixth-larges... |
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Gambling industry holds weak hand as downturn bites (06 October 12:20) |
| When a man like Sheldon Adelson, one of the richest in America, has to pour $475m of his family's money into his casino empire to tide things over, it is time for the gambling industry to wo... |
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Price fall of metals mirrors car sales (06 October 12:05) |
| The price of precious metals used to make cars, platinum, palladium and rhodium, have plummeted in tandem with sales. |
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Investor interest swamps AIG (05 October 11:35) |
| AIG has been overwhelmed with interest from strategic investors keen to bid for stakes in its flagship assets in Asia, says Mark Wilson, president of the troubled international insurance gro... |
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Credit derivatives market faces $500bn mortgage settling test (05 October 11:30) |
| The credit derivatives markets will today set the price tag for settling up to $500bn of contracts related to Fannie Mae FNM and Freddie Mac, the US mortgage lenders whose seizure by the US ... |
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No pressure for Rotork as valve uptake grows (05 October 11:05) |
| Talk of the North American economy sliding into recession has Peter France puzzled. "We are having a fantastic year in the US," says Mr France, the chief executive of Rotork, an engineering ... |
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Banks move to allay fears of brokerage account investors (05 October 10:50) |
| Banks and brokerage firms are rushing to reassure investors holding money and securities in brokerage accounts, as some investors are switching to custody accounts in a flight to safety. |
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Chinese opposition mounts to BHP-Rio (05 October 10:15) |
| The proposed $170bn merger between miners BHP Billiton BHP and Rio Tinto would be "terrible" for global competition and should be rejected by anti-trust regulators, according to Zhang Xiaoga... |
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Temasek to target more Asian investments (05 October 09:50) |
| Temasek Holdings, the Singapore state investment company, plans to use the proceeds from the sale of an Indonesian bank last week to make more investments in the Asian financial sector. |
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Gannett borrows extra $1.2bn (04 October 07:15) |
| Gannett GCI has drawn down $1.2bn of its borrowing facilities, the publisher of USA Today announced on Friday night, demonstrating the growing rush by businesses to lock in funding as commer... |
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Google and Yahoo delay search ad partnership (04 October 05:20) |
| Google GOOG and Yahoo on Friday backed away from a potential confrontation with anti-trust regulators, announcing a delay to their controversial search advertising partnership to allow more ... |
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Fox in Bollywood venture with Star (04 October 04:40) |
| Twentieth Century Fox has struck a deal with one of Indian cinema's most successful producers, signalling Hollywood's willingness to reach new audiences by investing in international film pr... |
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On London: Mission begins to differentiate next winners and losers (04 October 02:20) |
| The London market set more unwanted records this week. Not only did the FTSE 100 register its worst monthly performance since the stock market crash of 1987, but it also posted a fifth conse... |
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BA's premium passenger traffic drops (04 October 01:15) |
| Shares in British Airways fell 7 per cent on Friday to their lowest level for more than five years as the airline announced a big drop in premium passenger traffic in September. |
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Slowdown could force UK to cut rates (04 October 01:05) |
| The Bank of England is under severe pressure to cut interest rates on Thursday following a marked deterioration in the outlook for the UK economy. |
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Commodities benchmark falls 28% in 3Q (04 October 12:50) |
| Severe selling pressure this week led to sharp falls in oil and metals prices amid mounting fears that the ongoing turmoil in financial markets will drag the global economy into recession. |
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Long view: Consequences game plays out to bitter end (04 October 12:45) |
| There is a harmless parlour game called Consequences. It is great fun. People pass around a piece of paper, writing down the name of a man and a woman, where they met, what they said to each... |
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Dollar puts together dramatic rally (04 October 12:40) |
| The dollar staged a dramatic comeback this week, putting in its best performance for 16 years as the focus of investor concerns switched back across the Atlantic to the woes facing the Europ... |
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Sterling in large fall against dollar (04 October 12:35) |
| The pound put in its worst performance against the dollar for 16 years this week as fears grew over the extent of the spill-over from the credit crisis on the UK economy. |
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Bail-out approval gives little comfort to Wall St (04 October 12:20) |
| US stocks took scant comfort from Congressional approval of the $700bn financial bail-out plan and remained on track for their worst weekly sell-off in six years. |
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Citigroup moves to thwart Wells-Wachovia deal (04 October 12:05) |
| Wells Fargo on Friday stunned Citigroup C and sparked a regulatory and legal row with a surprise $15.1bn all-share offer for Wachovia. The move trumps Citi's $2.2bn government-aided deal to ... |
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WPP gets backing for TNS takeover (03 October 11:45) |
| WPP, the advertising group headed by Sir Martin Sorrell, has won support from 61 per cent of Taylor Nelson Sofres' shareholders in support of a £1.2bn takeover of the market researcher. |
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Wells Fargo rides off with Wachovia (03 October 11:30) |
| When he received an early morning phone call telling him that Wells Fargo had just trumped Citigroup's government-brokered $2.2bn deal to buy Wachovia, a senior Citi executive thought he was... |
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Wall Street higher as bail-out approved (03 October 11:20) |
| Congressional approval of the $700bn financial bail-out lifted US stocks only modestly and kept them on track for the worst weekly sell-off in six years |
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Copper's 'Achilles heel' (03 October 11:15) |
| The price of copper capped a torrid third quarter on Friday with the second largest weekly fall for the benchmark London Metal Exchange three-month contract, 11.8 per cent to $5,977.5 a tonn... |
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Wall Street rallies as bail-out approved (03 October 11:05) |
| US stocks rallied as the US House of Representatives on Friday approved the $700bn US financial bail-out, ending the political uncertainty hanging over a package of measures that the world w... |
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Turbulence stalls Turkey's privatisations (03 October 11:00) |
| Turkish markets tumbled on Friday as traders returned from the three-day public holiday marking the end of Ramadan and responded with dismay to the latest twists in the global financial cris... |
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Wall Street rallies ahead of bail-out vote (03 October 10:35) |
| A financials-led rally on Friday tempered what was set to be US stocks' worst weekly performance in six years as the markets awaited another key Congressional vote on the financial sector re... |
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Overview: Liquidity freeze causes volatile week (03 October 10:00) |
| Global markets endured their most volatile week since the credit crunch began more than a year ago, as lending between financial institutions halted and weak economic data foreshadowed a har... |
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