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TOP STORIES

Bank of England's Carney grilled over forex scandal

LONDON - The Bank of England's top management moved quickly as soon as it learned that staff might not have acted on signs of possible manipulation of foreign exchanges rates and the Bank is being relentless in its investigations, Governor Mark Carney says. (BRITAIN-BOE/ (UPDATE 2), expect by 1500 GMT/11 AM ET, by David Milliken and William Schomberg, 400 words)

+ See also:

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

- BRITAIN-ECONOMY/MANUFACTURING, moved, 340 words

ECB to take tough stance in bank health check

FRANKFURT - The European Central Bank will press banks to change the models they use to predict losses and take account of its views on asset valuation if the ECB is unhappy with their risk assessment, signalling an aggressive stance in its review of the bloc's lenders. (ECB/BANKS (UPDATE 2), moving shortly, by Eva Taylor, 735 words)

Time runs short as Europe haggles over banking union reform

BRUSSELS - European ministers haggle over how to build a safety net for failing banks, redoubling efforts to avoid an embarrassing delay to the euro zone's centrepiece crisis reform. (EU-BANKS/, moved, by Annika Breidthardt and Robin Emmott, 800 words)

World stocks flat, oil and gold edge up on Ukraine, China

LONDON - World stocks hold steady, the euro edges down and oil and gold nudge up as traders keep a wary eye on tensions between Ukraine and Russia and the pace of growth in China. (MARKETS-GLOBAL/ (WRAPUP 5), moved, by Simon Jessop, 680 words)

+ See also:

- SPAIN-BILLS/ (UPDATE 1), moved, 400 words

EXCLUSIVE

India to slash Iran oil imports to meet nuclear deal

NEW DELHI - India has to cut its Iranian oil imports by nearly two-thirds from the first quarter after the United States asked it to hold the shipments at end-2013 levels, in keeping with the nuclear deal easing sanctions on Tehran, Indian government sources say. (INDIA-IRAN/IMPORTS (EXCLUSIVE), moved, by Nidhi Verma, 655 words)

ECONOMY

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)

Ukraine crisis strengthens EU resolve to seek U.S. gas

BRUSSELS - The European Union launches a new push to convince the United States to export natural gas to Europe as part of a transatlantic trade pact, conscious that the crisis in Ukraine has exposed its heavy dependence on Russia energy. (UKRAINE-CRISIS/ENERGY-EU, moved, by Robin Emmott and Barbara Lewis, 800 words)

Emerging economies holding back global recovery - OECD

PARIS - The recovery in developed economies is on track although slowing activity in big emerging markets means global growth will be only moderate at best in the near term, the OECD says. (OECD-ECONOMY/, moved, by Leigh Thomas, 540 words)

Portugal's economy rebounds in Q4 on consumers, exports

LISBON - Portugal's bailed-out economy grows a revised 0.6 percent in the last three months of 2013, accelerating from the previous quarter's 0.3 percent expansion as consumer demand rebounds and exports rise, data shows. (PORTUGAL-ECONOMY/ (UPDATE 1), moved, 385 words)

COMPANIES

Rising bad debts seen eating into UniCredit's results

MILAN - UniCredit, Italy's biggest bank by assets, posts a shock 14 billion euro loss in 2013 after huge writedowns on goodwill and bad loans as it moves to clean up its balance sheet ahead of a sector-wide health check by European regulators. (UNICREDIT/, moved, by Silvia Aloisi, 500 words)

Ranbaxy scrambles for ingredients to make generic Nexium

MUMBAI/LONDON - Indian drugmaker Ranbaxy Laboratories Ltd is in talks with at least two companies on sourcing ingredients for a generic version of AstraZeneca Plc's heartburn drug Nexium, a source says, to ensure the pills can be sold in the United States. (ASTRAZENECA-RANBAXY/ (UPDATE 2, PICTURE), moved, by Sumeet Chatterjee and Ben Hirschler, 835 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 1400 GMT/10 AM ET, by Andreas Cremer, 280 words)

Co-op CEO Sutherland offers to quit 'ungovernable' mutual

LONDON - The chief executive of Britain's Co-operative Group, Euan Sutherland, has offered to resign after a tumultuous 10 months in the job, saying he believes the mutual group is 'ungovernable', a source close to the matter says. (BRITAIN-CO OPERATIVE GRP/CEO (UPDATE 2), moved, by Brenda Goh and Paul Sandle, 525 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)

RESOURCES

After slump, iron ore faces more risks as China slows

SINGAPORE/BEIJING - China's biggest-listed steel maker Baosteel says a slump in iron ore is 'inevitable' and prices have further to fall, as traders say some buyers in the world's top consumer of the raw material are trying to delay shipments after panic selling. (IRONORE-CHINA/FALL (WRAPUP 1), moved, by Manolo Serapio Jr and David Stanway, 850 words)

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