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Tue Jan 28, 2014 9:20am EST

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TOP STORIES

UK economy grows at fastest rate in 6 years in 2013

LONDON - Britain's economy grew last year at its fastest rate since the financial crisis, official data shows, raising questions about how long the Bank of England can keep interest rates at a record low. (BRITAIN-ECONOMY/ (UPDATE 2), moved, by David Milliken and Andy Bruce, 780 words)

+ See also:

- BRITAIN-ECONOMY/OUTPUT, moved, 270 words

Turkish central bank vows tough action to stop currency tumbling

ANKARA - Turkey's central bank governor raises expectations for an emergency interest rate hike, denying he is hostage to political pressures and vowing decisive action to fight rising inflation and a tumbling lira. (TURKEY-CENTRALBANK/ (UPDATE 3), moved, by Nevzat Devranoglu, 900 words)

Emerging market rout pauses ahead of Turkey, Fed meetings

LONDON - Emerging markets steady after three days of intense selling, as investors wait to see if Turkey, one of the epicentres of the rout, hikes interest rates to defend its battered lira. (MARKETS-GLOBAL/ (WRAPUP 6), moved, by Marc Jones, 800 words)

+ See also:

- MARKETS-EMERGING/, moved, by Natsuko Waki, 600 words

Ford profit beats estimates on strength in North America

DEARBORN, Mich, - Ford Motor Co posts a higher-than-expected quarterly profit as strength in the No. 2 U.S. automaker's core North American market offset losses in Europe and South America. (AUTOS-FORD/RESULTS (UPDATE 2), moved, 710 words)

RBS's latest $5 billion hit presents new capital challenges

LONDON - When Royal Bank of Scotland's new chief executive Ross McEwan took the helm last October, he hoped to remove any concerns about the state-backed lender's capital within three years. That task may have got a lot harder after the bank set aside 3 billion pounds for extra charges. (RBS-CAPITAL/, expect by 1400 GMT/9 AM ET, by Matt Scuffham and Steve Slater, 600 words)

+ See also:

- RBS-FOREX/, moved, by Patrick Graham, 500 words

INSIGHT & EXCLUSIVE

Libyan port rebels see deal possible within weeks

AJDABIYA, Libya - A deal to lift an armed blockade of Libyan oil ports and restart exports could be possible within two weeks after talks with the government advanced on key demands, a senior leader of the protest movement says. (LIBYA-OIL/ (EXCLUSIVE, TV, PICTURE, UPDATE 2), moved, by Ulf Laessing, 950 words)

Innovative Portuguese exporters boom despite bust at home

LISBON - From the rattle of weaving looms and footwear stitching machines in northern Portugal to the rumble of trucks shipping high-quality paper across the eastern frontier, the nation's export firms are buzzing with activity despite three years of economic crisis at home. (PORUGAL-EXPORTS/ (INSIGHT, GRAPHIC), moved, by Andrei Khalip and Sergio Goncalves, 1,740 words)

INVESTMENT

Global power and renewables deals to rise this year - PwC

LONDON - Merger and acquisition activity in the global power and renewables sectors should pick up this year, after the value of deals fell by 10 percent in 2013 as policy uncertainty crushed investor confidence, a report by PwC shows. (POWER/PWC, moved, 400 words)

Shaanxi shares surge in biggest China listing since 2012

SHANGHAI - Shares of Shaanxi Coal Industry Co Ltd jump 44 percent in their Shanghai debut, the largest mainland China listing since the nation's initial public offering market reopened late last month. (SHAANXICOAL-IPO/ (UPDATE 2), moved, 650 words)

ECONOMY

U.S. durable goods orders unexpectedly plunge in December

WASHINGTON - Orders for long-lasting U.S. manufactured goods unexpectedly fell in December as did a gauge of planned business spending on capital goods, which could cast a shadow on an otherwise bright economic outlook. (USA-ECONOMY/DURABLES, moved, 300 words)

ECB advisers concerned about speed of money market tightening

FRANKFURT - Euro zone bank-to-bank lending rates that underpin borrowing costs across the economy are rising too fast, several money market advisers to the European Central Bank told one of its contact groups, minutes show, adding to pressure for ECB intervention to keep the recovery on track. (ECB/MONEYMARKETS, moved, by Eva Taylor, 500 words)

Fed tapering is flushing out hot money to Nigeria - c.bank

LONDON - The withdrawal of U.S. stimulus has removed some potentially destabilising "hot money" flows to Nigeria, but monetary policy needs to stay tight to keep the naira stable, a deputy governor of the central bank says. (NIGERIA-C.BANK/(INTERVIEW), moved, by Carolyn Cohn, 625 words)

India raises rates, says further tightening unlikely soon

MUMBAI - India surprisingly raises rates, saying the decision is driven by local inflation pressures and it is now better prepared for the Federal Reserve's taper even as other major emerging economies struggle with the risk of major outflows. (INDIA-ECONOMY/RATES (UPDATE 2, PICTURE), moved, by Suvashree Dey Choudhury and Tony Munroe, 880 words)

+ See also:

- INDIA-ECONOMY/CPI (UPDATE 1, PICTURE), moving shortly, by Manoj Kumar, 1,000 words

Spain beats target at short-term debt sale, yields fall

MADRID - Spain raises more than expected at a T-bill sale, with yields nearly halving on the shortest-dated paper as its debt remains unaffected by the contagion from emerging markets that has hit Spanish stocks. (SPAIN-ECONOMY/BILLS (UPDATE 1), moved, 520 words)

+ See also:

- SPAIN-ECONOMY/, moved, 100 words

Italy's 2-year yields fall to record low at zero coupon sale

MILAN - Italy's two-year borrowing costs fell to the lowest level since the launch of the euro at a sale of zero-coupon paper as large redemption flows spurred demand. (ITALY-BONDS/ (UPDATE 1), moving shortly, 280 words)

+ See also:

- ITALY-ECONOMY/CONFIDENCE, moved, 300 words

Bets on China to balance reform and growth despite market fright

BEIJING/TOKYO - Investors fretting over the impact of China's economic slowdown on its once red-hot emerging market peers have a powerful ally in Beijing's leadership, which has both the means and strong motivation to forestall a sharp downturn. (CHINA-ECONOMY/SLOWDOWN (ANALYSIS), moved, by Kevin Yao and Tomasz Janowski, 1,035 words)

+ See also:

- CHINA-ECONOMY/PMI (PREVIEW), moved, 500 words

New Zealand on cusp of rate rise as economy gains speed

WELLINGTON - New Zealand's central bank is on the verge of becoming the first developed country to raise interest rates in the current cycle, with market pricing suggesting a hike at this week's meeting is a close call. (NEWZEALAND-ECONOMY/RATES (PREVIEW), moved, by Naomi Tajitsu, 800 words)

COMPANIES

Apple shares set to open lower after muted iPhone sales, outlook

Apple Inc's shares are set to open 7 percent lower, after iPhone sales in the holiday shopping season misses lofty expectations and the company forecast weak revenue for the current quarter. (APPLE-RESULTS/SHARES, moved, 360 words)

+ See also:

- SAMSUNG-SALES/, moved, 265 words

Pfizer beats sales, profit forecasts; shares rise

Pfizer Inc reports better than expected fourth-quarter results, helped by sales of new treatments for cancer, nerve pain and arthritis, sending shares of the largest U.S. drugmaker almost 2 percent higher in premarket trading. (PFIZER-RESULTS/ (UPDATE 2), expect by 1400 GMT/9 AM ET, by Ransdell Pierson, 450 words)

Emerging market turmoil deals setback for Philips

AMSTERDAM - Philips says currency volatility in emerging markets such as Turkey, Argentina, and Indonesia and weak orders for healthcare equipment will mean a slow start to the year. (PHILIPS-RESULTS/ (UPDATE 3), moving shortly, by Sara Webb, 570 words)

Siemens investors set bar high for CEO's new strategy

MUNICH - Siemens shareholders tell Chief Executive Joe Kaeser they expect him to deliver radical change at the German engineering group that will permanently close the gap with more profitable rivals. (SIEMENS-RESULTS/ (UPDATE 4), moved, by Maria Sheahan and Jens Hack, 600 words)

Ex-Deutsche Bank manager found dead in apparent suicide

LONDON/FRANKFURT - William Broeksmit, a former senior manager at Deutsche Bank with close ties to co-Chief Executive Anshu Jain, has been found dead at his home in London in what appears to have been a suicide. (DEUTSCHEBANK/ (UPDATE 1, PICTURE), moved, 540 words)

+ See also:

- JPMORGAN-MAN/DEATH (UPDATE 2), moving shortly, by Costas Pitas, 300 words

Bank of Montreal agrees to buy UK's F&C for $1.2 bln

LONDON - Canada's Bank of Montreal confirms it will acquire UK fund manager F&C Asset Management operator of the world's oldest investment trust, for an agreed 708 million pounds ($1.17 billion) in cash to expand its wealth management arm. (BMO-F&C/ (UPDATE 2), moved, by Chris Vellacott, 500 words)

Finance arm seen underpinning Italy's postal privatisation

MILAN - Poste Italiane's fast-growing financial services business should underpin the Italian government's goal of raising over 4 billion euros ($5.5 billion) from the privatisation of the postal firm, despite concerns about ongoing state interference, analysts say. (ITALY-POSTOFFICE/, moved, by Francesca Landini, 930 words)

"Knock-down" bid for foreign bank highlights Hungary's dilemma

BUDAPEST - The failed attempt by a tiny local bank to take over Raiffeisen's Hungarian operations offers a series of clues to the future of Prime Minister Viktor Orban's nationalist economic policy (HUNGARY-BANKS/ (PICTURE), moved, by Gergely Szakacs and Krisztina Than, 960 words)

Co-op Bank's deputy chair opposed Lloyds branch purchase

LONDON - The former deputy chairman of Britain's Co-operative Bank says he steped down because he opposed its plans to buy hundreds of branches from Lloyds Banking Group. (COOP-INQUIRY (UPDATE 1), moved, by Matt Scuffham, 345 words)

IKEA sees consumer recovery worldwide, posts record profit

STOCKHOLM - World No. 1 furniture maker IKEA Group says it sees signs that consumer spending is starting to recover in many of its markets and posts record full year profits. (IKEA/ (UPDATE 2), moved, by Simon Johnson, 600 words)

Swedbank limits dividend hike amid regulatory uncertainty

STOCKHOLM - Swedish banking group Swedbank is bracing for tougher capital rules in the Nordic country as it announces a smaller than expected dividend and says share buybacks are off the table until regulatory uncertainty clears. (SWEDBANK/ (UPDATE 2), moved, by Mia Shanley and Johan Ahlander, 600 words)

+ See also:

- ITALY-BANK/SHARES, moved, 100 words

STMicro intends to outperform market in 2014 -CEO

PARIS - European chipmaker STMicroelectronics is starting off the year with an improved order book and aims to outperform market growth forecasts currently around 4.2 percent, CEO Carlo Bozotti tells reporters. (STMICRO-RESULTS/ (UPDATE 2), moving shortly, 415 words)

+ See also:

- SKHYNIX-RESULTS/ (UPDATE 2), moved, 700 words

Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.