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TOP STORIES

AstraZeneca rejects Pfizer's take-it-or-leave-it offer

LONDON - Britain's AstraZeneca rejects a sweetened and "final" offer from Pfizer, undermining the U.S. drugmaker's plan for a merger to create the world's biggest pharmaceuticals group. (ASTRAZENECA-PFIZER/ (UPDATE 10), expect by 1400 GMT/10 AM ET, by Ben Hirschler, 900 words)

+ See also:

- ASTRAZENECA-PFIZER/SHAREHOLDERS (UPDATE 1), moved, by Chris Vellacott and Jemima Kelly, 430 words

Deutsche Bank to raise $11 bln with help from Qatar

FRANKFURT - Deutsche Bank has asked shareholders for 8 billion euros ($11 billion) in new cash to strengthen its balance sheet ahead of European stress tests and to help fund an expansion in U.S. investment banking as its rivals retreat. (DEUTSCHE BANK/CAPITAL (UPDATE 4, PICTURE), moved, by Thomas Atkins, 955 words)

AT&T makes bet on video with $48.5 bln DirecTV bid

AT&T Inc plans to pay $48.5 billion to buy DirecTV, in the latest sign that the wireless industry and the U.S. television market are set to converge as customers consume more video on their mobile devices. (DIRECTV-AT&T/ (UPDATE 3), moved, by Liana B. Baker, Soyoung Kim and Marina Lopes, 1,000 words)

China, Europe drag world stocks lower; dollar slips

LONDON - Europe and Asia drags world equity markets lower as concerns about slower growth in China prompts investors to cut their risks. (MARKETS-GLOBAL/ (WRAPUP 3), moved, by Natsuko Waki, 580 words)

MARKETS & INVESTMENT

European investors undeterred by decade-high price levels

LONDON - Investors are hanging on to Europe's white-knuckle stock-market boom, betting that the grim reality of zero interest rates in a sluggish economy will keep pushing equities even further beyond their historical multi-year highs. (EUROPE-STOCKS/RALLY, expect by 1300 GMT/9 AM ET, by Lionel Laurent and Vikram Subhedar, 500 words)

ECB bond-buying could halt slide in euro zone debt yields

LONDON - Any European Central Bank move to print money could raise investor expectations for euro zone inflation and growth, pushing German Bund yields higher and potentially halting a two-year-old rally in peripheral debt. (EUROZONE BONDS/ECB, moved, by Marius Zaharia, 865 words)

Investment bank revenue falls 9 percent in first quarter

LONDON - Revenue at the world's 10 largest investment banks fell nine percent to $42.8 billion in the first quarter, new data shows, as tough new rules forcing banks to hold more capital lead to a retreat from riskier types of trading. (INVESTMENTBANK-REVENUES/, moved, 380 words)

Major banks Q1 commodities revenue jumps 26 pct

LONDON - Commodities revenue at the top 10 investment banks climbs 26 percent in the first quarter after years of declines, due to higher U.S. power and gas turnover as well as stronger investor interest, a consultancy says. (BANKS-COMMODITIES/ (UPDATE 1), expect by 1300 GMT/9 AM ET, by Eric Onstad, 650 words)

ECB unveils new gold sales pact with no formal limit

FRANKFURT/LONDON - The European Central Bank says it is renewing a five-year gold sales pact originally designed to limit sales of the precious metal, but with no fixed ceiling for the amount of bullion each signatory can sell. (ECB/GOLD, moved, by Paul Carrel and Jan Harvey, 450 words)

+ See also:

- PLATINUM/OUTLOOK, moved, by Jan Harvey, 920 words

Rwanda, Zambia, Zimbabwe - betting on the youth club

LONDON - They don't make it to the flagship frontiers stock index, but African countries Rwanda, Zambia and Zimbabwe have some of the fastest-growing working populations in the world, if only investors could capitalise on that. (AFRICA-INVESTMENT/, expect by 1500 GMT/11 AM ET, by Carolyn Cohn, 850 words)

ECONOMY

ECB's Weidmann: Don't take one-sided view of euro strength

FRANKFURT - Bundesbank chief Jens Weidmann warns against taking a too one-dimensional a view of the euro's strength, stressing the importance of the stimulative effect of lower sovereign bond yields in the euro zone. (ECB/POLICY-WEIDMANN (UPDATE 1), moved, 330 words)

+ See also:

- GERMANY-BUNDESBANK/, moved, 200 words

BoE says banks nervous over releasing health check details

LONDON - Banks in Britain broadly support Bank of England plans for yearly checks on their capital levels, although they disagree on how detailed the published results should be. (BOE-BANKING/TESTS, moved, by Huw Jones, 440 words)

Fischer, Brainard to push for more activist Fed

WASHINGTON - The two new nominees to the Federal Reserve's Board of Governors are expected to push for an expanded Fed role in managing the U.S. economy, working to replace the current raft of programmes that resulted from the financial crisis with more permanent tools. (USA-FED/NOMINEES (ANALYSIS), moved, by Howard Schneider and Michael Flaherty, 1,245 words)

Teens worry about economy in an independent Scotland -survey

LONDON - The majority of newly enfranchised Scots teenagers preparing to vote in September's referendum on independence are worried about the outlook for Scotland's economy if the nation votes to secede, according to a survey. (SCOTLAND-INDEPENDENCE/TEENS, moved, 420 words)

COMPANIES

France's Hollande hosts meeting on Alstom future

PARIS - French President Francois Hollande summons his prime minister and two other key ministers to a Monday morning meeting on the future of power and train-making company Alstom, an official at his office says. (ALSTOM-OFFER/MEETING (UPDATE 2), moved, 325 words)

Apple strikes a new chord in the future of music

SAN FRANCISCO/LOS ANGELES - More than a decade ago, the late Steve Jobs pulled one of his trademark reality distorting manoeuvres, browbeating music label executives into selling songs on Apple Inc's then-nascent iTunes digital store for a mere 99 cents apiece. (APPLE-BEATS/MUSIC (ANALYSIS), moved, by Christina Farr, Ronald Grover and Lisa Richwine, 880 words)

New UK banking standards body to be launched this year

LONDON - A new standards body for British bankers will be launched this year, with a chairman appointed by an independent panel led by Bank of England Governor Mark Carney. (BRITAIN-BANKS/STANDARDS (UPDATE 3), expect by 1300 GMT/9 AM ET, by Matt Scuffham, 800 words)

Ryanair sees profits climbing after 1st fall in five years

DUBLIN - Ryanair reports its first fall in profits in five years on intense competition in European short-haul, but it says higher average ticket prices this summer will help lift profits by up to 20 percent in the coming year. (RYANAIR-RESULTS/ (UPDATE 3), moving shortly, by Conor Humphries, 500 words)

Airbus, Dassault, Alenia propose European drone project

PARIS - Airbus Group, France's Dassault Aviation and Italy's Finmeccanica are joining forces to take another run at creating a European unmanned drone to reduce the region's reliance on U.S. and Israeli technology. (EUROPE-DEFENCE/DRONES (UPDATE 1), moved, 490 words)