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Tue May 27, 2014 8:51am EDT

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TOP STORIES

Britain's Cameron looks to rally support at EU summit

BRUSSELS/LONDON - British Prime Minister David Cameron will launch an assault against "business as usual" at a summit in Brussels on Tuesday, calling on fellow EU leaders to set simpler priorities that meet the concerns of frustrated voters. (EU-ELECTION/SUMMIT (UPDATE 1), moved, by Luke Baker and Kylie MacLellan, 850 words)

EU populist advances will hobble deeper integration

BRUSSELS - Stunning advances by anti-EU and populist parties in European Parliament elections will prevent any treaty on deeper euro zone integration for the foreseeable future and may tilt Europe's economic policy consensus towards expansion (EU-ELECTION/POLICY (ANALYSIS, TV, PIX, GRAPHICS), expect by 1300 GMT/9 AM ET, by Paul Taylor, 1,000 words)

Lloyds launches TSB sale to create new British lender

LONDON - Lloyds Banking Group expects to float about 25 percent of its TSB business on the London Stock Exchange next month, kicking off a process that will create an independent challenger to Britain's biggest banks by the end of 2015 (LLOYDS-TSB/ (UPDATE 2), moved, by Matt Scuffham, 600 words)

World shares hover near all-time high

LONDON - World shares are just shy of an all-time high but the euro gets squeezed as the European Central Bank leaves little doubt that it will keep more than five years of ultra-easy global monetary policy going next week. (MARKETS-GLOBAL/ (WRAPUP 5) expect by 1300 GMT/9 AM ET, by Marc Jones, 800 words)

+ See also:

- CHINA-GOLD/PRICING (PIX), moved, by A. Ananthalakshmi, 850 words)

INSIGHT

How AstraZeneca escaped Pfizer's clutches this time

London - On a sunny day in San Francisco last January, AstraZeneca Chief Executive Pascal Soriot was on his way to the Westin St. Francis hotel on Union Square to give investors some unexpectedly good news. (ASTRAZENECA-PFIZER/ (INSIGHT), moved, by Ben Hirschler, 1,370 words)

+ See also:

- ASTRAZENECA-PFIZER/STOCKS (UPDATE 1), moved, by Ben Hirschler, 375 words

Bank of Japan more confident, quietly eyeing stimulus exit

LONDON - The Bank of Japan has begun shifting its focus from supporting growth to ways of phasing out its massive stimulus, taking first tentative steps towards a potentially momentous move for the world economy. (JAPAN-ECONOMY/BOJ (INSIGHT), moved, by Leika Kihara, 1,200 words)

ECONOMY

ECB embarks on 300-million-euro spending spree for watchdog

FRANKFURT - The European Central Bank will spend 300 million euros this year and next in building an elite group to monitor top banks, with the lion's share being spent on bumper pay for staff. (ECB-WATCHDOG/SALARY, expect by 1400 GMT/10 AM ET, pix, by John O'Donnell, 650 words)

Platinum strike pushes South Africa towards recession

PRETORIA - South Africa's economy shrinks in the first three months of the year as a massive decline in output from strike-hit platinum mines triggers the first overall contraction since a 2009 recession. (SAFRICA-ECONOMY/ (UPDATE 2), moving shortly, by Stella Mapenzauswa, 600 words)

India's government gets to work with a promise to investors

NEW DELHI - India's new finance minister commits himself to repairing public finances and restoring investor confidence as a new administration takes charge promising better days for millions of discontented Indians. (INDIA-POLITICS/ (WRAPUP 1), moved, by Manoj Kumar, 570 words)

EU drive to create its own Silicon Valley finds doubters

BRUSSELS - Europe needs to sort out its fragmented telecoms market and regulatory imbalances if it is to spur a new generation of technology start-ups and create its own version of America's Silicon Valley. (EU TECH/STARTUPS, moved, by Julia Fioretti, 700 words)

COMPANIES

No party for bankers despite bull market for shares

LONDON - The stock market is booming but revenue has not picked up at the share trading desks of European investment banks, kept away from the party by new regulations and a shift to cheaper electronic trading. (BANKS-EUROPE/EQUITIES, moving shortly, by Lionel Laurent, 760 words)

Euronext seen valued at more than $2 bln in IPO

PARIS/LONDON - IntercontinentalExchange Group (ICE) is pressing ahead with a listing of European exchange Euronext, which two sources familiar with the matter say could achieve a valuation of at least 1.5 billion euros ($2.1 billion), and has already lined up a group of anchor investors to take a 33 percent stake. (EURONEXT-IPO/ (UPDATE 1), moved, by Andrew Callus, Clare Hutchison and Freya Berry, 300 words)

GE boss faces public Alstom grilling in Paris

PARIS - General Electric boss Jeff Immelt faces a public French parliamentary grilling in person over his high-stakes plan to buy the power arm of engineering group Alstom, replacing a subordinate at the last minute. (ALSTOM-OFFER, expect by 1630 GMT/12.30 PM ET, by Andrew Callus, 600 words)

Russian bank VTB's profit plunges as Ukraine crisis bites

MOSCOW - Russia's second-largest bank VTB lays bare the economic damage being inflicted by the Ukraine crisis, missing forecasts with a 98-percent plunge in first-quarter net profit as it sets aside more money to cover potential bad loans. (RUSSIA VTB/ (UPDATE 2) moved, by Megan Davies, 400 words)

Accor rules out HotelInvest spin-off for now - CEO

PARIS - Europe's largest hotel group, Accor, has no plan to spin off its HotelInvest real estate ownership business or sell any of its hotel brands, but Chief Executive Sebastien Bazin told Reuters "nothing is taboo" in the long-term. (ACCOR-EXPANSION/ (UPDATE 1, INTERVIEW, PIX), moved, by Dominique Vidalon and Cyril Altmeyer)

Protesters burn vehicles, buildings at Caledonia nickel mine

SYDNEY - Rioters torched vehicles, equipment and buildings at Vale's nickel mine in the French Pacific territory of New Caledonia over the weekend, as anger boiled over about a chemical spill in a local river. (VALE-SA-NEWCALEDONIA/SPILL (UPDATE 2), moved, by Cecile Lefort and Melanie Burton, 500 words)