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UPDATE 1-UK's Labour suffers setback as leader in Scotland quits

* Blair denies report he thinks Labour will lose May vote (Adds SNP reaction, Blair)

Gulf states will have to cut spending as oil price dips -Kuwait's finance minister

KUWAIT, Oct 25 - Gulf Arab oil exporters face inevitable spending cuts as weak oil prices cloud their economic outlook, Kuwaiti Finance Minister Anas al-Saleh said on Saturday.

Markets 6:11am EDT

Head of UK's Labour party in Scotland quits

LONDON, Oct 25 - The head of Britain's opposition Labour party in Scotland has quit, unsettling the party in one of its heartlands ahead of national elections in May next year.

Markets 3:07am EDT

RPT-Ukraine oligarch put on the spot as rebels nibble at his empire

* Separatists use Akhmetov factory to repair combat vehicles

CORRECTED-JGBs bolstered by Ebola fears, BOJ operations

(Corrects direction of Japanese stocks in fifth paragraph)

Markets 12:47am EDT

Ocwen to hire independent firm to probe backdated foreclosure letters

Oct 24 - Ocwen Financial Corp said it was hiring an independent firm to investigate how the mortgage servicer had sent backdated letters to borrowers about loan modifications and foreclosures and the reason for the delay in fixing the issue.

U.S. court hearing over Citi processing of Argentine bond payment delayed

NEW YORK, Oct 24 - A U.S. judge has delayed by a week a December hearing to consider whether Citigroup Inc should be allowed to process an interest payment by Argentina on bonds issued under its local laws following its 2002 default.

UPDATE 2-Fannie Mae settles shareholder lawsuit for $170 million

NEW YORK, Oct 24 - Fannie Mae has reached a $170 million settlement of a lawsuit accusing it of misleading shareholders about its finances, risk management and mortgage exposure before it was seized by the U.S. government during the 2008 financial crisis.

UPDATE 1-U.S. judge blocks New Jersey sports betting law

Oct 24 - A federal judge issued a temporary restraining order on Friday blocking a New Jersey law that would have allowed legal betting on sporting events.

Muni bond issuance hits $6.6 bln next week on World Trade Center deal

Oct 24 - U.S. muni issuance totaling $6.6 billion next week will be driven by a single big deal involving a tower at New York City's 3 World Trade Center, according to Thomson Reuters data.

Markets 24 Oct 2014


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