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U.S. Authorities Press Swiss Banks for Data Over Tax Evasion

U.S. authorities have given Switzerland until Tuesday to transmit data from tax evaders in the United States who have stashed assets away in Swiss banks, the SonntagsZeitung reported Sunday.

The United States has asked for detailed information on U.S. nationals who have hidden their money in Switzerland, the paper said, basing its report on a three-page letter from the U.S. deputy attorney general James Cole, dated August 31, addressed to the Swiss authorities.

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Central Bank Says India Paid $5 Billion Iran Oil Debt in Full

India has fully paid its $5 billion oil arrears to Iran without bartering to bypass sanctions-related payment problems, the official news agency IRNA reported Sunday quoting Iran's central bank chief.

"While all of India's $5 billion oil arrears have been paid to Iran, the country will always have some leftover debt (to pay) due to fresh oil sales," Mahmoud Bahmani said.

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Chateau Lafite Grabs Record Price at Hong Kong Sale

A 300-bottle collection of Chateau Lafite Rothschild has sold for almost $540,000 in Hong Kong, setting a world record price for a single wine lot auctioned this year, organizers said.

The collection spanning 1981 to 2005 was knocked down for HK$4.2 million ($539,250) at Christie's two-day Autumn wine sale, which is expected to rake in over $5 million in sales, the auction giant said late Saturday.

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Trichet Says Italy's Deficit Cuts 'Absolutely Decisive'

European Central Bank chief Jean-Claude Trichet told Italy Saturday that meeting its deficit reduction targets was absolutely decisive for the country's credibility.

"It is essential that the target which was announced to diminish the deficit will be fully confirmed and implemented," Trichet said at an economic forum in northern Italy.

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China Seeks Libyan Guarantees on Business Interests

Beijing has asked Libya's new rulers to guarantee Chinese business interests in the north African country, despite not supporting the military action that helped bring them to power.

China is the only permanent member of the U.N. Security Council yet to formally recognize the Transitional National Council and repeatedly opposed NATO's use of force in support of the rebels during recent fighting.

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World Bank Chief Warns of Economic 'Danger Zone'

World Bank chief Robert Zoellick warned Saturday that the global economy was heading into a new "danger zone", as he urged China to speed up structural reforms to help its development.

"The financial crisis in Europe has become a sovereign debt crisis, with serious implications for the monetary union, banks, and competitiveness of some countries," he said at a conference in Beijing on the future of China.

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Ukraine Vows to Break up Russia's Gas Trade Partner

Ukraine said on Friday it will have to negotiate a new gas deal with Russia because of previously-undisclosed plans to break up the republic's existing energy company.

The unexpected announcement came in the heat of the two neighbors' second spat over gas prices in three years and appeared part of a Ukrainian effort to force Russia to ease its negotiating stance over prices.

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Halliburton Hits BP with New Oil-Spill Lawsuit

U.S. oil-services giant Halliburton said Friday that it was filing a defamation lawsuit against BP over the devastating 2010 oil spill in the Gulf of Mexico.

"Halliburton... filed claims against BP in Texas state court for negligent misrepresentation, business disparagement and defamation related to the April 20, 2010, Macondo incident," the Houston-based company said.

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European Stocks Close Sharply Lower

European stock markets closed sharply lower on Friday, hit by fresh worries over the Eurozone debt crisis and a much weaker-than-expected U.S. jobs report.

London's FTSE 100 index of leading companies lost 2.34 percent to 5,292.03 points. In Paris, the CAC 40 shed 3.59 percent to 3,148.53 points and in Frankfurt the DAX dropped 3.36 percent to 5,538.33 points.

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U.S. Adds Zero Jobs in Rough August

The stuttering U.S. economy added no jobs in August amid recession fears and political turmoil over the government's finances, bleak official data showed Friday.

Employment in the private sector, previously the main engine for job growth as revenue-strapped governments shed workers, "changed little" in most major industries, the Labor Department said.

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