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TOP STORIES

US drugmaker AbbVie finally wins Shire with $55 bln deal

LONDON - U.S. drugmaker AbbVie bought Dublin-based Shire in a 32 billion-pound ($54.7 billion) deal that will allow it to slash its tax bill by relocating to Britain. (ABBVIE-SHIRE/ (UPDATE 1), moved, by Paul Sandle, 460 words)

Ukraine unrest, Gaza keep pressure on shares, bonds steady

LONDON - World markets remain under pressure after the downing of a Malaysian airlines jet at the Ukraine-Russia border, new sanctions on Moscow and unrest in Gaza has sent investors scurrying into defensive assets. (MARKETS-GLOBAL/ (WRAPUP 6), moved, by Marc Jones, 740 words)

UK banks face break-up threat as watchdog plans probe

LONDON - Britain's big banks could be broken up after the country's new competition watchdog sets out plans for an 18-month investigation into services for small business customers and personal accounts because of a lack of competition. (BANKS-BRITAIN/COMPETITION (UPDATE 3), moved, by Steve Slater, 855 words)

+ See also:

- BANKS-BRITAIN/COMPETITION (FACTBOX), moved, 230 words

Ukraine jet crash insurance may be complex, lengthy

NEW YORK - Insurance on the Malaysian airliner brought down over Ukraine is likely to pay out relatively quickly if the cause of the crash is determined, but observers say compensation for the loss of 298 lives and other liability could be complex and lengthy. (UKRAINE-CRISIS/AIRPLANE-INSURANCE (UPDATE 2), moved, by Alwyn Scott, 500 words)

INVESTMENT

"Go-anywhere" investing transforms volatile emerging markets

LONDON - New types of long-term investors and flexible, "go-anywhere" investing styles are helping transform emerging markets by making the once-volatile sector less prone to the sweeping sector-wide selloffs common in the past. (EMERGING MARKETS-CONTAGION/INVESTMENT, GRAPHIC), moving shortly, by Sujata Rao, 900 words)

ECONOMY

FX probe could be bigger problem than Libor - RBS chief

LONDON - An investigation into alleged manipulation of foreign exchange markets could pose a bigger problem for banks than the Libor interest rate rigging scandal, the boss of Royal Bank of Scotland says. (RBS-CEO/FOREX (UPDATE 1), moved, by Steve Slater, 453 words)

IMF's Lagarde says markets "perhaps too upbeat" on Europe

PARIS - The head of the International Monetary Fund warns that financial markets are "perhaps too upbeat" because high unemployment and high debt in Europe could drag down investment and hurt future growth prospects. (EUROZONE-ECONOMY/IMF, moved, 270 words)

Germany urges euro zone to reform, not rely on ECB for help

MADRID/PARIS - Germany's finance minister and central bank chief press euro zone governments to pass reforms to shape up their economies rather than rely on the European Central Bank for help (ECB-POLICYMAKERS (UPDATE 1), expect by 1300 GMT/9 AM ET, by Paul Day and Leigh Thomas, 685 words)

With oil sales clipped, Iran faces sliding iron ore exports

SINGAPORE/LONDON - Iran's iron ore industry is in crisis because of low prices, a senior industry official says, with June exports the lowest in nearly two years and ore piling up at ports. (IRONORE-IRAN/, moved, by Manolo Serapio Jr and Maytaal Angel, 850 words)

COMPANIES

BSkyB prepares to roll the dice again with expansion

LONDON/MILAN/FRANKFURT - BSkyB's plan to buy Rupert Murdoch's pay-TV assets in Italy and Germany is a bold bet on long-term growth at the expense of short-term profit, but the pioneering British media firm has pulled off such gambles before. (BSKYB-EUROPE/, moved, by Kate Holton, Danilo Masoni and Harro Ten Wolde, 1,200 words)

GE net rises, helped by jet engine, oil equipment sales

General Electric Co posts a 13 percent rise in quarterly net income on Friday, helped by increases in sales of its jet engines and oil and gas equipment. (GENERAL ELECTRIC-RESULTS/ (UPDATE 2), moving shortly, by Lewis Krauskopf, 495 words)

Portugal says private investors could bolster BES defences

LISBON - Banco Espirito Santo (BES) should be able to tap private investors if it needs to boost its defences against losses, Portugal's central bank governor says, reiterating that the lender had sufficient capital reserves. (PORTUGAL-BES/ (UPDATE 2), moved, by Andrei Khalip and Sergio Goncalves, 740 words)

Smartphone suit against Google plays into rivals' hands

SAN FRANCISCO - A U.S. consumer lawsuit accusing Google of monopolizing prime real estate on Android smartphones will help mobile rivals like Microsoft make their antitrust case with European regulators should damaging secrets emerge in court. (GOOGLE-MICROSOFT/ANTITRUST (ANALYSIS), moved, by Dan Levine, 790 words)

Danone raises Africa profile with Brookside dairy deal

PARIS - French food group Danone says it is buying a 40 percent stake in Brookside, East Africa's top dairy producer, as part of plans to expand in new markets amid weak growth in Europe and a slowing economy in China. (DANONE-BROOKSIDE/ (UPDATE 2), moving shortly, by Dominique Vidalon, 470 words)

UK's Co-op agrees $1 bln pharmacy sale to Bestway

LONDON - Britain's Co-operative Group has agreed to sell its pharmacy business to the privately owned Bestway Group for 620 million pounds ($1.06 billion), providing funds for it to cut debt and invest in its core businesses, it says. (CO OPERATIVE GRP-PHARMACY/ (UPDATE 1), moved, 345 words)

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