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British PM Offers Vision beyond Austerity

British Prime Minister David Cameron will on Wednesday seek to convince voters that he has more to offer than austerity, promising a "land of opportunity" built on pro-business values.

In his keynote speech to his Conservative party's annual conference, Cameron will draw clear dividing lines with the opposition Labor party as he sets out his goal for a majority in the 2015 election.

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Cameron Warns U.S. Government Shutdown is Risk to World Economy

The United States' federal government shutdown could endanger the fragile world economy, British Prime Minister David Cameron warned on Tuesday.

"It is a risk to the world economy if the United States can't properly sort out its spending plans and its deficit reduction plans," Cameron told BBC radio after the U.S. Congress failed to agree a budget, forcing the first federal government shutdown in 17 years.

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IMF Urges Kuwait to Contain Spending, Speed up Reform

The International Monetary Fund has urged oil-rich Kuwait to contain public spending, which has trebled in seven years, to avoid risks from a drop in crude prices.

The IMF also urged the Gulf state to speed up structural reforms, put back on track a $110 billion (81 billion euros) development plan that is lagging behind schedule and cut public subsidies.

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Survey: Japan Business Confidence Hits More than Five-Year High

Japanese business confidence has soared to a more than five-year high, the Bank of Japan said Tuesday, a result likely to be the tipping point for premier Shinzo Abe's decision on hiking sales taxes.

The central bank's quarterly Tankan survey surged to its strongest level since December 2007, with a reading of "plus 12" among major manufacturers from "plus 4" in its last survey.

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Obama Addresses Troops on Shutdown Impact

U.S. President Barack Obama told U.S. troops in a video message early Tuesday that they would still get paid on time, despite a government shutdown.

Obama earlier signed emergency legislation ensuring that wages would continue for service members, despite much of the government shutting down after Congress failed to defuse a huge federal funding row.

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Oil Prices Slip as U.S. Slides into Government Shutdown

Oil prices eased in Asian trade Tuesday as the U.S. government began shutting down for the first time in 17 years following a gridlock in Congress over a new budget.

New York's main contract, West Texas Intermediate for delivery in November, fell 30 cents to $102.03 in afternoon trade, while Brent North Sea crude for November dipped 60 cents to $107.77.

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Obama Says Not Resigned to Government Shutdown

U.S. President Barack Obama said Monday he was not giving up hope for a deal to avert a shutdown of the federal government in a matter of hours.

"I am not at all resigned" to a shutdown, Obama told reporters when asked about it.

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Syria War Costs Tourism Industry $1.5 Billion

Syria's tourism industry has lost 300 billion pounds ($1.5 billion) in revenues since the country's brutal conflict broke out in March 2011, Tourism Minister Bishr Riad Yaziji told Agence France Presse on Monday.

"The tourism industry has lost some 300 billion Syrian pounds in direct and indirect losses," Yaziji said.

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Eurozone Inflation Falls Sharply to 1.1%: Eurostat

Annual inflation in the 17-nation eurozone fell sharply to 1.1 percent in September after a 1.3 percent drop in August, according to a first estimate on Monday by the Eurostat data agency.

A strong drop in energy prices, which decreased 0.9 percent after 0.3 percent in August, largely contributed to the new fall in inflation, which a year ago stood at 2.6 percent.

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Troika Announces Pause in Aid Discussions with Greece

Greece's international creditors announced Sunday a pause in their discussion with Athens over the release of rescue loans.

Teams from the International Monetary Fund, European Union and European Central Bank have been in the Greek capital since September 17 for a fresh audit of the country's finances.

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