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Wed Nov 28, 2012 8:56am EST

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TOP STORIES

Euro zone central banks may roll over their Greek bonds-document

BRUSSELS - Euro zone central banks may decide to roll over their holdings of Greek debt to reduce by 5.6 billion euros the amount governments will need to provide Athens by 2016, according to an document obtained by Reuters (EUROZONE GREECE/ROLLOVER, moved, by Jan Strupczewski, 400 words)

+ See also:

- EUROZONE/ECB-SUPERVISION (UPDATE 1), moved, 300 words

- GREECE-DEBT/DEAL (ANALYSIS), moved, by Luke Baker, 890 words

Spain's rescued banks to shrink, slash jobs

BRUSSELS/MADRID - Spain's four nationalised banks will more than halve their balance sheets in five years, slash jobs and impose hefty losses on bondholders, under plans approved by the European Commission. (EU-SPAIN/BANKS (UPDATE 3), expect by 1400 GMT/9 AM ET, 600 words)

+ See also:

- SPAIN-RETAIL/ (UPDATE 1), moved, 450 words

Obama promotes tax agenda, U.S. Congress in stand-off

WASHINGTON - President Barack Obama launches a public relations push for his bid to raise taxes on wealthy Americans, but U.S. lawmakers remain deadlocked over dramatic, year-end tax increases and spending cuts known as the "fiscal cliff". (USA-FISCAL/ (WRAPUP 3), moved, by Richard Cowan and Jeff Mason, 960 words)

U.S. worries hit shares, euro subdued after Greek deal

LONDON - Shares, commodities and the euro fall as investors fret about a lack of progress in U.S. budget talks and doubts creep in over Greece's new debt deal. (MARKETS-GLOBAL/ (WRAPUP 5, GRAPHIC), moved, by Marc Jones, 730 words)

ECONOMY

German prelim inflation slows to 1.9 pct

BERLIN - German inflation slows by 0.1 percentage points to 1.9 percent year-on-year in November, according to preliminary data released, in line with expectations. (GERMANY-INFLATION/NATIONAL (UPDATE 1), moving shortly, 200 words)

Italy's 6-month yields fall to pre-crisis level

MILAN - Italy pays less than 1 percent to sell 7.5 billion euros of six-month bills, its lowest in more than two years and a far cry from the 6.5 percent it paid exactly a year ago when investors were fretting over an Italian default.(ITALY-DEBT/ (UPDATE 1), moved, by Francesca Landini, 375 words)

Japan needs EU to make its mind up over trade talks

BRUSSELS/TOKYO - Britain tries to convince France and Italy to start free-trade talks with Japan to deepen Europe's ties with the world's third largest economy and overcome delays that test Tokyo's patience (EU-JAPAN/TRADE (GRAPHIC), moved, by Robin Emmott and Kaori Kaneko, 800 words)

Pessimism sees borrowing by small UK firms near 3-year low

LONDON - The proportion of Britain's small and medium-sized businesses (SMEs) borrowing money in the past quarter fell to its lowest level since at least early 2010, a survey shows. (SME-BORROWING/BANKS, moved, by Costas Pitas, 425 words)

Philippine economy shines, highlights SE Asia resilience

MANILA - The Philippine economy accelerates more than expected in the third quarter, defying the global downdraft to post the fastest growth in Southeast Asia where robust domestic demand is helping to offset export weakness. (PHILIPPINES-ECONOMY/SOUTHEASTASIA (WRAPUP 2, PIX), moved, by Rosemarie Francisco, 1,070 words)

High-flying Dubai managers back in charge as crash fades

DUBAI - When Dubai's ruler unveiled plans last week to build a complex housing 100 hotels and the world's biggest shopping mall, the scale of his ambitions recalled the emirate's boom half a decade ago. So did his choice of executives to lead the project. After three years out in the cold because of the emirate's debt crisis, the high-flying managers who built Dubai are again in charge. (EMIRATES-EXECUTIVES/AMBITION, expect by 1400 GMT/9 AM ET, by Mirna Sleiman, 1,000 words)

As Turkey's economy booms, deep inequality persists

ISTANBUL - Behind the sprawling Istinye Park shopping mall on the shores of the Bosphorus, there's a slum housing rural Turks who have swarmed to this city of 14 million in search of jobs which, despite fast economic growth, are hard to come by. Turkey's economic boom has done little to narrow inequalities in the country. (TURKEY-UNEMPLOYMENT/ (PIX), expect by 1400 GMT/9 AM ET, by Seltem Iyigun, 1,000 words)

The tax man cometh to communist Cuba

HAVANA - Most Cubans have not paid taxes for half a century, but that will change under a new code starting Jan. 1 in a signal that market-oriented reforms are here to stay (CUBA-REFORM/TAXES), moved, by Marc Frank, 700 words)

INVESTMENT SUMMIT

Crisis bellwethers US housing, Ireland have turned - Allianz

LONDON - The recovery of U.S. housing market and return of Ireland to capital markets are bellwethers of a turn in the world financial crisis and safe-haven core bonds are a "gigantic" bubble, Allianz Global Investors CIO Andreas Utermann says. (INVESTMENT-SUMMIT/ALLIANZ, moving shortly, by Ingrid Melander, 900 words)

Top investors see bubble risk in safe haven, junk bonds

A love affair with bonds is starting to cool after five long years as investors see both safe haven and junk debt in bubble territory.(INVESTMENT-SUMMIT/BONDS (ANALYSIS), expect by 1400 GMT/9 AM ET, by Sujata Rao and Carolyn Cohn, 900 words)

COMPANIES

Shares in Russia's MegaFon fall on market debut

MOSCOW - Shares in MegaFon fall 2 percent on their market debut, following a bumpy ride for the IPO and showing limited demand among investors for another Russian mobile issue. (MEGAFON-IPO/(UPDATE 2), moved, by Megan Davies and Maria Kiselyova, 700 words)

+ See also:

- MEGAFON-IPO/(FACTBOX), moved, 300 words

UAE buys into BP's UK fields as relations improve

ABU DHABI - Abu Dhabi National Energy Co (TAQA) will buy a number of BP's North Sea assets for over $1.3 billion in a sign relations between Britain and the Gulf emirate are on the mend. (EMIRATES-BRITAIN/OIL (UPDATE 3), moved, by Stanley Carvalho, 600 words)

The biggest struggle yet for Citi's repairman

NEW YORK - When Citigroup Inc's board of directors was looking for a chief executive in 2007, it called Michael O'Neill, who had turned around Bank of Hawaii Corp a few years before. (CITIGROUP-ONEILL/ (ANALYSIS), moved, by David Henry and Rick Rothacker and Dan Wilchins, 1,300 words)

Costco to pay $7 special dividend on Dec. 18

U.S. retailer Costco Wholesale Corp is to pay a special dividend of $7.00, worth a total $3.0 billion to investors, it says when posting monthly same-store sales that beat forecasts. (COSTCO-DIVIDEND/ (UPDATE 1), moved, 200 words)

BlackBerry maker RIM loses patent dispute with Nokia

HELSINKI - Canada's Research In Motion (RIM) has lost a contract dispute over the use of Nokia patents in a case which could halt sales of its BlackBerry phones if it does not reach a deal to pay royalties to the Finnish company. (NOKIA-RIM/ (UPDATE 2), moved, by Tarmo Virki, 500 words)

Monte Paschi ups state aid request by $647 mln

MILAN/ROME - Banca Monte dei Paschi di Siena, Italy's third-biggest lender, has asked for an extra 500 million euros ($647 million) state aid, citing a possible hit on its capital from past deals.(MONTEPASCHI-LOANS/(UPDATE 2), moved, by Silvia Aloisi and Stefano Bernabei, 330 words)

GSK and J&J lead rivals in drug access for poor

LONDON - Drugmakers - led by GlaxoSmithKline and Johnson & Johnson - are stepping up efforts to ensure their medicines are available and affordable in poor countries, after being attacked in the past for not doing enough. (MEDICINES/POOR (GRAPHIC), moved, by Ben Hirschler, 500 words)

Growth prospects fuel Gulf banks' capital-raising spree

DUBAI - As banks in much of the rest of the world struggle to shore up balance sheets ravaged by weak economies, banks in the Gulf are sucking in capital for a very different reason: to fund expansion plans. (GULF-BANKS/CAPITAL, expect by 1400 GMT/9 AM ET, by David French, 900 words)

Swiss Life takes $618 mln charge to drop AWD brand

ZURICH - Swiss Life says it will slash the valuation of a German advisory arm it bought just four years ago and drop the name AWD, as it draws a line under what one analyst calls the insurer's biggest misstep. (SWISSLIFE/ (UPDATE 2), moved, by Martin de Sa'Pinto, 370 words)

German lawmakers quiz Deutsche Bank officials on Libor

FRANKFURT - German parliamentarians question Deutsche Bank's compliance chief Stephan Leithner and former board member Hugo Baenziger over how banks including the German lender manipulated global benchmark interest rates.(DEUTSCHEBANK-LIBOR/ (UPDATE 1), moved, by Edward Taylor, 500 words)

Siemens to publish details of Osram spin-off

FRANKFURT - Siemens AG is expected to publish details of the long-awaited spin-off of Osram after its supervisory board meets to set out a future course for the lighting unit. (SIEMENS-OSRAM/, moved, 470 words)

Smith & Nephew expands in wound care with U.S. buy

LONDON - Healthcare firm Smith & Nephew says it will acquire privately-held U.S. firm Healthpoint for $782 million in cash, as part of its strategy to expand in the fast-growing area of bioactive wound care.(SMITHNEPHEW/ (UPDATE 2), moved, 400 words)