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Standard Chartered Axes 15,000 Jobs, Announces $5.1 Bn Capital Raise

Asia-focused British bank Standard Chartered said Tuesday it would axe 15,000 jobs and raise $5.1 billion in capital after posting a "disappointing" third-quarter loss as it struggles to return to growth.

The job losses are part of a major restructuring that will cost around $3 billion, the bank said.

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Belgian Craft Beer Bubbles despite Brewer Megamerger

To understand why the world's biggest brewer, the Belgian giant AB InBev, is tying up with rival SAB Miller look no further than a modest craft brewery tucked away in a working class Brussels district.

Brasserie de la Senne was founded in 2003 and churns out only a fraction of the hundreds of beer brands owned by AB InBev, which is headquartered in the Flanders town of Louvain, 20 kilometers (14 miles) away.

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TransCanada Asks U.S. to Pause Pipeline Review

TransCanada asked the United States on Monday to suspend its review of the proposed Keystone XL pipeline in a move that might delay a decision until the U.S. presidential election.

Environmentalists rushed to urge President Barack Obama to refuse the company's request and instead end once and for all the project to carry oil from Canada through the United States to the Gulf of Mexico.

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VW Denies U.S. Claims of Emissions Cheating in Larger Cars

The Volkswagen emissions-cheating scandal widened Monday when U.S. regulators said the German automaker also included illegal "defeat devices" on its larger 3.0 liter diesel engines during the past three years.

Volkswagen had already admitted including the software, which cheats pollution tests, in its smaller 2.0 liter diesels equipped in some 11 million 2009-2015 model year cars worldwide.

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Nissan Boosts Annual Outlook on New Models, N.America Sales

Japan's Nissan on Monday boosted its full-year forecasts, citing new model rollouts along with upbeat sales in North America and Europe that offset weakness in the home market.

The Altima sedan maker said it would post a record net profit of 535 billion yen ($4.5 billion) in the fiscal year to March 2016, up about 17 percent from the year-earlier result, while operating profit and sales would also come in higher than forecast.

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HSBC Pre-Tax Profit up 32% at $6.1 bn, Revenue Down

HSBC saw pre-tax profit surge 32 percent year on year in the third quarter on the back of lower fines the banking giant announced Monday, but revenue dropped in the wake of Asian market volatility.

Group chief executive Stuart Gulliver said the performance was "resilient" but that revenue had been affected by stock market sell-offs in Asia, with revenue down four percent.

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Turkish Lira, Stocks Soar after AKP Win

The Turkish lira and stocks soared on Monday after President Recep Tayyip Erdogan's Justice and Development Party (AKP) was returned to power in a stunning weekend election victory, but analysts warn the rebound may be shortlived. 

The lira jumped almost four percent to 2.79 to the dollar in early afternoon trade, after earlier gaining 4.4 percent in the morning to its highest level in seven years.

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Egypt Tourists Determined to Enjoy Holiday despite Plane Crash

Inside a glitzy hotel lobby on Egypt's Red Sea, some tourists expressed concern Sunday about flying home after a Russian plane crash, but others seemed determined to enjoy their holiday.

A Kogalymavia Airbus A321 carrying 224 people from the resort town of Sharm el-Sheikh crashed on Saturday in the Sinai Peninsula, killing everyone on board.

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Dubai Property Giant Emaar Profit up 31% in Q3

Dubai-based real estate developer Emaar Properties on Sunday reported a 31-percent rise in net profits during the third quarter of 2015.

Emaar -- best known for building the world's highest tower, the Burj Khalifa -- said it had recorded net profit of $230 million between July and September 2015, compared to $176 million during the same period last year.

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Greek Banks Must Find up to 14.4 bn Euros after ECB Stress Test

Four major Greek banks must find up to 14.4 billion euros ($15.8 billion) to survive potential economic shocks, the European Central Bank said Saturday, releasing the results of an in-depth financial health check.

Weakened after years of recession, Greece's banks took a further battering this year when the government pushed the country to the brink of a euro exit in a standoff with Berlin and Brussels over the terms of Greece's international bailout. 

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