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(MENAFN - AFP) European equities tumbled on Tuesday as news of a sharp slowdown in eurozone business activity stoked fears over the timid economic recovery.

Among London's biggest fallers were drugmakers Shire and AstraZeneca -- both targeted by US takeovers this year -- as Washington acted to curb so-called tax-inversion deals that sap government income.

Elsewhere, ...

(MENAFN - AFP) Two of the world's largest fertiliser companies, US-based CF Industries and Norway's Yara International, announced Tuesday that they were discussing "a potential merger of equals" to create a new group.

"The discussions are at an early stage, and there can be no assurances that these discussions will result in any transaction," Yara International said in a ...

(MENAFN - AFP) Electronics giant Philips will split in two, it announced Tuesday, separating its healthcare-lifestyle division from the historic lighting business in a dramatic streamlining move by the 120-year-old firm.

"We're preparing Philips for the next century," CEO Frans van Houten told a telephone press conference.

"Giving independence to our lighting solutions ...

(MENAFN - AFP) Wall Street stocks were mixed in early trade Tuesday after more poor data on the eurozone economy sent European markets tumbling and new US tax rules hit some pharmaceutical stocks.

About 40 minutes into trade, the Dow Jones Industrial Average was down 20.16 points (0.12 percent) to 17,152.52.

The broad-based S&P 500 slipped 0.63 (0.03 percent) to ...

(MENAFN - AFP) French Prime Minister Manuel Valls warned of a "real danger" for Air France as a pilot strike that has grounded more than half its fleet deepened Tuesday after talks hit an impasse.

The strike over plans to expand the company's budget airline Transavia in Europe entered its ninth day at a cost of 20 million euros ($25.7 million) daily.

"There is no reason ...

(MENAFN - AFP) Britain's financial watchdog on Tuesday said it had fined Barclays bank almost £38 million for putting client assets at risk, dealing a further blow to the troubled lender.

The Financial Conduct Authority said it had fined Barclays £37.745 million ($62 million, 48 million euros) -- the highest ever penalty imposed by British regulators for client asset breaches, ...

(MENAFN - AFP) Asia's markets were mixed Tuesday after a gauge of Chinese manufacturing beat expectations to show a pick-up in September, providing some respite for dealers concerned about the economic giant.

The dollar retreated following a recent rally, while on Wall Street the Dow edged down after clocking another record at the end of last week.

Shanghai jumped 0.87 ...

(MENAFN - AFP) One of Deutsche Bank's co-heads, Juergen Fitschen, has been charged with attempted fraud linked to the bank's long-running legal battle with the Kirch media group, prosecutors said on Tuesday.

The prosecutors said in a statement that Fitschen and four others -- ex-CEOs Rolf Breuer and Josef Ackermann and former executives Clemens Boersig and Tessen von Heydebreck ...

(MENAFN - AFP) Anglo-Australian mining giant BHP Billiton said Tuesday it would lay off 700 workers at coal operations in central Queensland as it seeks cost efficiencies, with weakening demand from China sending prices tumbling.

The move comes as BHP executives have emphasised the need to reduce costs and maximise productivity in order to ensure long-term viability.

The ...

(MENAFN - AFP) Dutch electrical appliance group Philips said Tuesday it wants to split the company in two, separating its healthcare-lifestyle and lighting businesses after stripping away less profitable activities.

"We're preparing Philips for the next century," CEO Frans van Houten told a telephone press conference.

"Giving independence to our lighting solutions business ...

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