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TOP STORIES

Bank of England's Carney faces grilling over forex scandal

LONDON - Mark Carney faces probably his toughest questioning so far as Bank of England governor as lawmakers seize on a foreign exchange scandal to press their demands for tighter oversight of the central bank. (BRITAIN-BOE/, expect by 1030 GMT/6.30 AM ET, by David Milliken and William Schomberg, 400 words)

+ See also:

- FOREX/FIXING (TIMELINE), moved, 560 words

Europe haggles over banking union reform

FRANKFURT - European ministers continue to haggle over how to build a safety net for failing banks on Tuesday, redoubling efforts to avoid an embarrassing delay to the bloc's centrepiece crisis reform. (EU-BANKS/, expect by 1000 GMT/6 AM ET, by Annika Breidthardt and Robin Emmott, 700 words)

ECB to take tough stance in bank health check guidelines

FRANKFURT - The European Central Bank will press banks to change the models they use to predict losses if it finds key elements missing, taking an aggressive stance in its unprecedented health check. (ECB/BANKS, expect by 1000 GMT/6 AM ET, by Eva Taylor, 600 words)

German trade surges at fastest pace in nearly 2 years

BERLIN - German exports and imports surged in January at the fastest pace in nearly two years, data shows, adding to signs that Europe's largest economy started the year on a strong footing and is on track to robust growth. (GERMANY-TRADE/ (UPDATE 1), moved, by Sarah Marsh, 360 words)

MARKETS

World stocks, oil steady but eyes still on Ukraine, China

LONDON - Stocks, the euro, oil and gold all steady as traders keep a watching brief on tensions between Ukraine, the West and Russia and a wary eye on the pace of growth in China. (MARKETS-GLOBAL/ (WRAPUP 4), expect by 1000 GMT/6 AM ET, by Simon Jessop, 680 words)

ECONOMY

UK factories starts 2014 well, weather hits oil and gas

LONDON - British manufacturers start 2014 on a solid footing in January but bad weather causes the broader measure of growth in industrial output to slow sharply, official data shows. (BRITAIN-ECONOMY/MANUFACTURING, moved, 340 words)

Japan keeps stimulus in place, cuts view on exports

TOKYO - The Bank of Japan maintains its massive monetary stimulus on the view that growth in the economy and consumer prices remains on track, but downgrades its assessment of exports in a warning about external demand. (JAPAN-ECONOMY/BOJ (UPDATE 2, PICTURE), moved, by Stanley White and Tetsushi Kajimoto, 800 words)

French business under no illusions about challenges at home

PARIS - French companies see little hope for domestic growth this year and are stepping up efforts to cut costs and fine-tune product lines to contend with stubbornly tough market conditions. (FRANCE-ECONOMY/COMPANIES, moved, by Natalie Huet, 755 words)

China suggests interest rate liberalisation in 2 years

BEIJING - China's central bank governor says the country's deposit rates are likely to liberalised in one to two years - the most explicit time frame to date for what will be the final step in freeing up banks to set their own interest rates. (CHINA-PARLIAMENT/CENBANK (UPDATE 2, PICTURE), moved, by Xiaoyi Shao and Kevin Yao, 870 words)

+ See also:

- CHINA-ECONOMY/BANKS (UPDATE 3), moving shortly, 390 words

Huge housing deal may signal Gulf investment push into Egypt

DUBAI/CAIRO - A $40 billion deal for Dubai firm Arabtec to build one million homes in Egypt may mark the start of politically-inspired Gulf investment in the country's creaking infrastructure, from housing to transport, power generation and agriculture. (GULF-EGYPT/INVESTMENT, moved, by Andrew Torchia and Ehab Farouk, 1,220 words)

COMPANIES

Rising bad debts seen eating into UniCredit's results

MILAN - UniCredit is expected to announce big writedowns on bad debts and a plan to issue a 2 billion euro bond to boost its capital base when it announces its full-year results and new strategic plan later on Tuesday. (UNICREDIT/, expect by 1300 GMT/9 AM ET, by Silvia Aloisi, 500 words)

Audi says foreign growth, model costs to burden profit

INGOLSTADT, Germany - Germany's Audi is bracing for another drop in operating profit this year as the costs of foreign expansion, new models and technologies weigh on its results. (AUDI-RESULTS/ (UPDATE 2), expect by 1100 GMT/7 AM ET, by Andreas Cremer, 280 words)

Co-op chief executive Euan Sutherland offers to resign - BBC

LONDON - Britain's Co-operative Group's chief executive Euan Sutherland has offers to resign in a letter in which he describes the member-owned group as "ungovernable", the BBC reports. (BRITAIN-CO OPERATIVE GRP/CEO (UPDATE 1), moved, 290 words)

Zurich Insurance to cut about 800 jobs globally

ZURICH - Zurich Insurance Group will cut about 800 jobs globally to save around $250 million per year by the end of 2015 as part of a drive to reduce costs and improve profitability. (ZURICH-JOBS/ (UPDATE 2), moved, 235 words)

Hannover Re Q4 operating results disappoint

FRANKFURT - Germany's Hannover Re says net profit rises by half in the fourth quarter due largely to a one-off tax benefit, but a falloff in operating results and a "challenging" outlook for 2014 pressures shares sharply lower. (HANNOVERRE-RESULTS/ (UPDATE 2), moving shortly, 430 words)

Seplat to list on London and Nigerian stock exchanges

LONDON - Nigerian oil company Seplat plans to raise at least $500 million by floating shares on the London and Nigerian stock exchanges to pay down debt and fund acquisitions, it says. (SEPLAT-IPO/ (UPDATE 1), moved, by Freya Berry, 200 words)

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