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Fri Jun 6, 2014 4:55am EDT

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TOP STORIES

As bank fines soar, U.S. threatened $16 billion BNP penalty

WASHINGTON/NEW YORK - U.S. authorities negotiating with BNP Paribas over alleged sanctions violations at one point suggested that France's biggest bank pay a penalty as high as $16 billion, according to people familiar with the matter. (BNPPARIBAS-FINES/ (EXCLUSIVE, GRAPHICS), moved, by Aruna Viswanatha and Karen Freifeld, 1,530 words)

+ See also:

- BANKING-IFF/BNPPARIBAS, expect by 1400 GMT/10 AM ET, by Steve Slater and Laura Noonan, 700 words

- BNPPARIBAS-USA/, moved, 100 words

German exports climb, Bundesbank raises 2014 growth forecast

BERLIN - German exports rise at the fastest pace in nearly two years in April while industrial output inches up, and the Bundesbank raises its 2014 growth forecast for Europe's largest economy. (GERMANY-ECONOMY/TRADE (UPDATE 2), moved, by Michelle Martin and Noah Barkin, 575 words)

U.S. jobs report seen underscoring economy's resilience

WASHINGTON - U.S. employers likely maintained a solid pace of hiring in May, returning employment to its pre-recession level and offering confirmation the economy has snapped back from a winter slump. (USA-ECONOMY/ (WRAPUP 1), moved, by Lucia Mutikani, 540 words)

Vodafone: Some govts have direct network access to eavesdrop

LONDON - Vodafone, the world's second-biggest mobile phone company, says government agencies in a small number of countries in which it operates have direct access to its network, enabling them to listen in every call. (VODAFONE GROUP-DISCLOSURE/, moved, 240 words)

MARKETS & INVESTMENT

Asia up, Europe more cautious as polls loom

LONDON - European stocks and bonds rise, buoyed by the European Central Bank's promise the previous day of yet another tidal wave of deflation-dousing liquidity, but investors retain a note of caution ahead of the latest U.S. employment report. (GLOBAL-MARKETS/ (WRAPUP 4), moving shortly, by Jamie McGeever, 850 words)

Exploiting the ECB-Fed policy gap

LONDON - If it wasn't apparent before the European Central Bank's meeting on Thursday, it is now: the central banks of the euro zone and the United States, the two most powerful monetary authorities in the world, are clearly moving in the opposite direction. (INVESTMENT FOCUS, expect by 1300 GMT, by Jamie McGeever and John Geddie, 850 words)

China to tighten supervision over shadow banking

BEIJING - China will further tighten supervision over the shadow banking sector, the country's banking regulator says, part of an ongoing campaign to control off-balance sheet lending by the country's financial institutions. (CHINA-BANKS/REGULATOR (UPDATE 2), moved, 475 words)

ECONOMY

UK trade deficit seen widening in April

LONDON - Britain's goods trade deficit is estimated to have widened in April, slowed by weaker chemicals and manufacturing exports, official data shows. (BRITAIN-TRADE/, moved, 300 words)

+ See also:

- BRITAIN BOE/INFLATION, moved, 300 words

Spain industrial output rises at sharpest pace in four years

MADRID - Spanish industrial output rises in April at its fastest pace since March 2010, official data shows, the latest sign of a turnaround for a battered economy. (SPAIN-ECONOMY/INDUSTRIALOUTPUT (UPDATE 1), moved, 215 words)

Swiss prices post biggest rise since SNB capped franc

ZURICH - Swiss consumer prices post their strongest annual rise since the country's central bank capped the soaring Swiss franc almost three years ago, official data shows, underscoring the policy's success. (SWISS ECONOMY/CPI, moving shortly, 290 words)

COMPANIES

Prada falls to two-year lows after disappointing 1st quarter

HONG KONG - Shares of Prada falls more than 6 percent to a two-year-low after the Italian fashion house surprises investors with a drop in quarterly sales, sparking concern that the brand could be falling out of favour in key Asian markets. (PRADA-STOCKS/ (UPDATE 1), moved, 380 words)

Alitalia expected to give initial nod to Etihad tie-up

MILAN/ROME - Alitalia is expected to give an initial green light to a tie-up with Etihad Airways at a board meeting today in a last-ditch attempt to save a carrier that many in the industry have regarded as a lost cause. (ALITALIA-ETIHAD/, moved, by Agnieszka Flak and Alberto Sisto, 770 words)

Qingdao Port in weak debut, concerns over metals probe weigh

HONG KONG - Shares in China's Qingdao Port International Co Ltd weakens in their Hong Kong trading debut amid concerns that the company could be hurt by a probe into metal financing at the world's seventh busiest port. (CHINA-QINGDAO/IPO (UPDATE 1), moved, 300 words)

U.S. authorities extend deadline for Swiss banks in tax case

ZURICH - The U.S. Department of Justice has extended for one month the deadline for so-called category two Swiss banks suspected of helping wealthy Americans evade taxes to turn over information by one month. (USA-SWITZERLAND-TAX/, moved, 215 words)

Austria rolls dice with Hypo debt haircut law

VIENNA - Austria will enter uncharted territory for bond markets next week when it unveils legislation designed to force some subordinated creditors of Hypo Alpe Adria to help pay for winding down the stricken nationalised bank. (AUSTRIA-HYPO/ (PREVIEW), moved, by Michael Shields and Angelika Gruber, 815 words)

For Samsung heirs, little choice over likely $6 bln tax bill

SEOUL - The heirs of ailing Samsung Group patriarch Lee Kun-hee face one of the biggest inheritance tax bills ever, and appear to have little option but to pay up. (SAMSUNG GROUP-SUCCESSION/TAX (PICTURE, GRAPHIC), moved, by Se Young Lee, 1,200 words)

BHP Billiton says its iron ore expansion was too rapid

BEIJING - BHP Billiton says it expanded iron ore production too rapidly, causing the Anglo-Australian miner to overlook the underlying cost of its business, its chief executive says. (CHINA-IRONORE/BHP (UPDATE 1), moved, by David Stanway, 500 words)