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Australia Says Bitcoin not Taxable as Currency

Crypto-currencies such as Bitcoin should not be considered as money or a foreign currency when it comes to taxation, Australia's tax authority ruled Wednesday.

In guidance designed to help people finalise their tax returns, the Australian Tax Office said Bitcoins were a form of property, disappointing those hoping they would be seen as a currency. 

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BHP Shares Slump in Australia after Demerger Plans

BHP Billiton's shares closed almost four percent lower in Australia Wednesday, as investors fled over the lack of a stock buyback and the global mining giant's demerger plans.

The slump came as global credit agencies affirmed their ratings for the world's biggest miner and maintained a stable outlook.

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Britain's Top Bosses Earn '131 Times More' than Staff

The heads of Britain's largest companies earned 131 times as much as their average employee last year, a study said Monday, exposing the growing pay gap between bosses and workers.

The wage divide has more than doubled since 1998, when the average chief executive of firms in the FTSE 100 earned 47 times as much as staff, the report found.

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Official Data: British Annual Inflation Slides to 1.6%

Britain's 12-month inflation slid to 1.6 percent in July from 1.9 percent in June, official data showed on Tuesday, easing pressure on the Bank of England to raise rates.

The Consumer Prices Index (CPI) inflation measure headed back towards May's figure of 1.5 percent, which at the time was the lowest level for four and a half year years.

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Dollar Firm in Asia as Ukraine Tensions Ease

The dollar held steady in Asia on Tuesday as concerns over a Ukrainian clash with Russia eased, while investors looked to a speech by the US Federal Reserve chief this week.

In afternoon Tokyo trade, the greenback rose to 102.62 yen, from 102.57 yen in New York and 102.32 yen in Tokyo earlier Monday.

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Yen Ticks Up in Asia Amid Ukraine Tensions

The yen ticked up in Asia Monday as investors nervously watched the latest developments in the Ukraine crisis, while looking to a speech by the U.S. Federal Reserve chief later this week.

In Tokyo afternoon trading, the dollar slipped to 102.32 yen from 102.34 yen in New York Friday.

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Mexican Billionaire Offers Advice for Latinos

Increasing workers' earning power and offering Latino-owned companies easier access to funding that can be used for growth and expansion can help improve the social and economic status of Latinos in the U.S. and throughout Latin America, Mexican billionaire Carlos Slim told a group of religious and community leaders.

During a speech Sunday at the annual conference of the Catholic Association of Latino Leaders, Slim spoke for more than an hour on how to better the plight of Latino workers and Latino-owned businesses.

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Govt: Foreign Investment in China Slumps in July

Foreign direct investment (FDI) into China dropped by more than a sixth year-on-year to a two-year low in July, the government said Monday, but denied any link to Beijing's multiple probes into foreign companies.

FDI -- which excludes investment in financial sectors -- fell 16.95 percent in the month to $7.81 billion, the commerce ministry said, its lowest since July 2012, when it was $7.579 billion.

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Thailand Avoids Recession with 0.9 Percent Q2 Growth

Thailand dodged recession as its economy grew 0.9 percent in the second quarter, data showed Monday, after the military ended months of political deadlock with a coup and promised to unshackle state spending.

Between April and June the economy grew 0.9 percent after shrinking a revised 1.9 percent in the first quarter, the National Economic and Social Development Board reported.

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Ferrari Sells for Record $38 mln

A red 1962 Ferrari 250 GTO Berlinetta, said to be one of only a handful, was snapped up for $38.1 million in California, becoming the most expensive car ever sold at auction.

The previous record was held by a 1954 Mercedes-Benz W196R Formula 1 model bought in Britain last year for $30 million.

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