UNITED KINGDOM

Northern Rock soars as ex-Abbey boss plans swoop

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The former head of UK bank Abbey and veteran troubleshooter Luqman Arnold is preparing a move for Northern Rock which could avoid a sale or breakup, sending shares in the battered lender up as much as 11 percent.

S.Life soars as Pearl closes in on Resolution

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Shares in Standard Life rose more than 14 percent on Monday after the former mutual insurance firm pulled out of the battle for Resolution, handing victory to rival suitor Pearl.
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World stocks hit 8-week low as yen rallies

World stocks hit 8-week lows while the yen raced to 18-month peaks versus the dollar on Monday as fears about credit-related losses at financial firms prompted investors to reduce bets on risky trades.
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EU, Iran to hold nuclear talks this month: reports

The European Union's top diplomat and Iran's chief nuclear negotiator agreed on Sunday to hold a new round of talks on Tehran's disputed atomic ambitions by the end of this month, Iranian news agencies said on Sunday.
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Japan generic drug maker shares soar on govt proposal

Japan's Health Ministry, eager to trim swelling health-care costs, proposed changes to prescription forms on Friday in a bid to boost the use of cheaper generic drugs, sending shares in the nation's generic drug makers soaring.
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Barclays rejects talk it faces $10 bln writedown

British bank Barclays Plc categorically denied rumors it was about to announce a $10 billion writedown and see its top management quit, after the market talk sent its shares tumbling over 9 percent. There is absolutely no substance to those rumors, a spokesman for Britain's third biggest bank said when asked about a possible $10 billion writedown.
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AXA 9-month sales rise, signs of Q3 slowdown

AXA, Europe's second- biggest insurer, reported a 22.3 percent rise in nine-month group revenue that was boosted by higher sales in countries such as Britain and the United States. Total sales rose to 71.652 billion euros ($105.1 billion).
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Marsh & McLennan misses view, net soars on Putnam

Marsh & McLennan Cos, one of the world's largest insurance brokers, said on Thursday quarterly profit soared eleven-fold from a sale of its Putnam Investments unit, but operating earnings missed forecasts.
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Warner Bros. says to buy TT Games

Warner Bros. home entertainment division said on Thursday it was buying UK-based games publisher TT Games, the business behind Traveler's Tales and the LEGO Star Wars series.
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Sliding dollar and huge GM loss hit stock markets

The dollar hit record lows versus the euro on Wednesday, knocking major stock markets as General Motors posted its biggest quarterly loss ever which rattled investors already concerned about the U.S. economy.
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UK film in freedom of speech storm hits screens

The makers of a new movie set in London's Bangladeshi community that infuriated community leaders and sparked heated debate about freedom of speech said the protests were unjustified and exaggerated by the media.
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Experts say West can't stop Web radicalization

From behind a computer keyboard at his London home, student Younes Tsouli used the Internet to spread al Qaeda propaganda, recruit suicide bombers and promote Web sites that encouraged the killing of non-Muslims.
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Central bankers see more pain for U.S. economy

Central bankers past and present warned on Tuesday of more pain to come for the U.S. economy and that banks worldwide could take several months yet to reveal full losses from U.S. subprime mortgage lending. Former Federal Reserve Chairman Alan Greenspan and billionaire investor George Soros said the downturn in the U.S. housing market had yet to take its full toll on growth.
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Nokia and STMicroelecronics Close 3G deal

Nokia and STMicroelectronics today announced an agreement to deepen their collaboration on the licensing and supply of integrated circuit designs and modem technologies for 3G and its evolution.
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Pakistan says to hold election by January

The Pakistani government said on Monday it would hold a national election by mid-January, as it came under pressure from the United States for imposing emergency rule and detaining lawyers and opposition politicians.
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Qatar fund ditches $22 bln bid for UK's Sainsbury

A Qatari fund has ditched plans for a 10.6 billion-pound ($22 billion) bid for British retailer J Sainsbury, blaming worsening credit markets and the cost of winning support from the firm's pension trustees.
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Wall Street cringes as Citi revives fears

Fear and mistrust gripped Wall Street on Monday after Citigroup's CEO quit in the wake of mounting credit losses and an influential money manager called the subprime mortgage market a $1 trillion problem.
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UK, France preach calm after Citi bombshell

Britain and France rushed to offer reassurance on Monday that their economies and banking systems would ride out global credit turmoil after Citigroup said it could write off $11 billion of subprime mortgage losses.
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AstraZeneca's Crestor fails in heart failure study

Heart-failure patients given AstraZeneca Plc's Crestor and standard drugs are just as likely to have heart attacks and strokes or die of cardiovascular problems as those on standard therapy alone, researchers said on Monday.
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PepsiCo reorganizes into 3 units

PepsiCo announced a restructuring on Monday that will split the food and beverage company into three units -- one for food in the United States, one for U.S. drinks and one for food and drinks abroad.
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U.S., Britain pressure Musharraf

The United States and Britain heaped pressure on Pakistan's President Pervez Musharraf on Monday, urging him to hold elections on time, as police detained hundreds of lawyers angry at his imposition of emergency rule.
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Qatar fund drops $22 billion bid for UK's Sainsbury

A Qatari fund has dropped plans for a 10.6 billion-pound ($22.1 billion) bid for British retailer J Sainsbury, blaming worsening credit markets and the cost of winning support from the firm's pension trustees.
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Dueling videogames Guitar Hero, Rock Band face off

The October 28 launch of Guitar Hero III: Legends of Rock struck the first chord in a highly anticipated battle of the bands between music-based videogames that will only get louder when rival Rock Band arrives November 20.

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