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Tue Jul 22, 2014 4:49am EDT

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TOP STORIES

EU ministers threaten Russia with harsher sanctions

BRUSSELS - European Union foreign ministers threaten Russia with harsher sanctions over Ukraine, with Germany saying diplomacy is no longer enough to force Moscow to de-escalate the crisis after the downing of a Malaysian Airlines flight last week (UKRAINE-CRISIS/EU (UPDATE 1, TV/PIX), expect by 0930 GMT/5.30 AM ET, by Justyna Pawlak and Adrian Croft, 600 words)

Credit Suisse posts big loss after U.S. tax settlement

ZURICH - Credit Suisse Group reports its biggest quarterly loss since the peak of the financial crisis in 2008, the result of a 1.6 billion Swiss franc ($1.78 billion) settlement with U.S. authorities over helping its clients evade taxes. (CREDIT SUISSE-RESULTS/ (UPDATE 2, PICTURE), moved, by Katharina Bart, 805 words)

Europe rebounds as Ukraine cooperation lifts mood

LONDON - European markets ride a global rebound in risk appetite helped by the first signs of cooperation from Ukraine's pro-Russian separatists over the downed Malaysian Airlines plane. (MARKETS-GLOBAL/ (WRAPUP 4), moving shortly, by Marc Jones, 635 words)

+ See also:

- RUSSIA-MARKETS/ (UPDATE 1), moved, 380 words

China food scandal drags in more firms, spreads to Japan

SHANGHAI - The latest food scandal in China is spreading fast, dragging in U.S. coffee chain Starbucks, Burger King Worldwide Inc and others, as well as McDonald's products as far away as Japan. (CHINA-FOOD/ (UPDATE 3, PICTURE), moved, by Adam Jourdan, 840 words)

ECONOMY

UK public finances show government slipping off target

LONDON - Britain's public finances shows a bigger than expected deficit in June, continuing a weak start to the tax year that leaves finance minister George Osborne with a lot of catching up to do to meet his fiscal goals. (BRITAIN-BORROWING/, moved, 410 words)

Insiders worry China's stimulus focus delays reform drive

BEIJING - Policy insiders are concerned that China's ambitious reform agenda is being sidelined by a focus on stimulus to meet the government's growth target, delaying the planned overhaul of the world's second-largest economy. (CHINA-ECONOMY/REFORM (GRAPHIC), moved, by Kevin Yao, 850 words)

Jury out on effectiveness of QE globally - RBA's Stevens

SYDNEY - The jury is out on whether the exceptional monetary polices pursued worldwide have worked to stimulate activity in the real economy, rather than just encouraging risk-taking in financial markets, Australia's central bank chief says. (AUSTRALIA-ECONOMY/CENBANK, moved, 350 words)

More than half of people upbeat on job prospects - Nielsen

LONDON - More than half of consumers globally expect job prospects to be good to excellent in the year ahead, a survey shows. (GLOBAL-ECONOMY/NIELSEN, moved, by Susan Fenton, 515 words)

INVESTMENT

Saudi Arabia prepares to open $530 bln bourse to foreigners

RIYADH - Saudi Arabia's cabinet gave permission to the financial regulator to open the Arab World's biggest stock market to direct investment by foreign financial institutions. (SAUDI-STOCKS/INVESTMENT (UPDATE 2), moved, by Angus McDowall, 720 words)

China's WH Group to raise $2 bln in scaled-down IPO - source

HONG KONG - WH Group Ltd is set to raise $2.05 billion in a scaled-down Hong Kong initial public offering, a person with direct knowledge says, the Chinese pork producer's second attempt to list this year after investors rebuffed a pricier deal. (WH GROUP-IPO/ (UPDATE 1), moved, 315 words)

COMPANIES

Austrian chipmaker AMS fails to agree deal with Dialog

FRANKFURT - Austria's AMS failed to agree a deal to buy German peer Dialog Semiconductor that could have created a European chipmaker with a market value of about $4.7 billion. (DIALOG SEMICNDTR-AMS/ (UPDATE 2), moving shortly, by Maria Sheahan and Georgina Prodhan, 500 words)

Swatch expects margins, sales to recover after H1 miss

ZURICH - Swatch Group says it expects profitability and sales to recover in the second half of the year as the negative impact from the strong Swiss franc that spoilt the picture in the first half lessens and demand in the United States and Japan holds up. (SWATCH-RESULTS/ (UPDATE 2), expect by 0900 GMT/5 AM ET, by Silke Koltrowitz, 600 words)

Strong licensing drives ARM's earnings in second quarter

LONDON - ARM Holdings, the British company whose processor designs power Apple's and Samsung's smartphones, posts a 9 percent rise in second-quarter profit, helped by strong demand to license its technology. (ARM HOLDINGS-RESULTS/ (UPDATE 1), moved, 290 words)

Actelion CEO says shareholders support independence

ZURICH - Actelion's chief executive said he is determined to stay independent, batting away speculation the Swiss biotech company could become the latest takeover target by U.S. firms seeking a lower tax bill by rebasing abroad. (ACTELION-RESULTS/ (UPDATE 2), expect by 0900 GMT/5 AM ET, by Caroline Copley, 700 words)

+ See also:

- ACTELION-RESULTS/INTERVIEW (INTERVIEW), moved, 160 words

Norsk Hydro Q2 results miss expectations

OSLO - Norwegian aluminium producer Norsk Hydro reports disappointing second-quarter earnings as strong figures at its primary metals unit were more than offset by weak results elsewhere. (NORSK HYDRO-RESULTS/ (UPDATE 1), moved, 340 words)

Publicis says annual growth target will be hard to meet

PARIS - French advertising agency Publicis warns it will be "very difficult" to meet its annual target of 4 percent organic sales growth after a second-quarter slowdown caused in part by the failure of its planned merger with Omnicom in May. (PUBLICIS-RESULTS/ (UPDATE 2), moving shortly, by Leila Abboud and Gwénaëlle Barzic, 640 words)

Talks to end S.African engineering strike resume - union

JOHANNESBURG - Wage talks between South African metal and engineering employers and the sector's main union will resume on Tuesday in an effort to end a strike that is sapping Africa's most advanced economy, a union spokesman says. (SAFRICA-STRIKE/, moved, 200 words)

Royal Mail warns on parcel revenue as competition bites

LONDON - Britain's Royal Mail Group says it will have to rely on cost control measures and letters sales to meet full-year expectations after rising competition meant parcels revenue will be lower than anticipated. (ROYAL MAIL-RESULTS/ (UPDATE 1), moved, by Neil Maidment, 370 words)