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By Tom Bergin LONDON (Reuters) - When Barclays Plc sold a fund management business to U.S. financial group Blackrock Inc. in 2009, the larger-than-expected $15.2 billion price tag was not the only good news for the British bank's investors. The way Barclays structured the sale -- by booking part of the proceeds in Luxembourg -- allowed it to do something not possible under most tax systems: generate a tax loss from a tax-exempt transaction, a Reuters analysis of previously unreported company filings and statements shows. The move has helped Barclays to earn billions of dollars almost tax free.
Luxury fashion brand Gucci has warned Hong Kong shops selling paper handbags and other goods as offerings for the dead not to market items resembling their products. It is a tradition for Hong Kong families to purchase and burn paper replicas of everything their deceased loved ones could ever want in the afterlife. As such the city is bustling with speciality stores stocking everything from paper false teeth, iPads and shirts, to chauffeur-driven cars, macaroons, mansions and wads of fake cash.