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TOP STORIES

Stocks rise, bonds fall as Ukraine tensions ease

LONDON - Global stock markets bounce back from recent sell-offs and safe-haven assets fall as investors take on risk in the wake of a slight easing of geopolitical tensions in Ukraine. (MARKETS-GLOBAL (WRAPUP 4), moved, by Lionel Laurent, 600 words)

Balfour Beatty rejects second Carillion merger proposal

LONDON, British infrastructure company Balfour Beatty rejects a second proposal from rival Carillion to merge, citing significant risks the 3 billion pound ($5.03 billion) deal would pose to its business. (BALFOUR -BEATTY-CARILLION) expect by 0930 GMT/ 5.30 AM ET, by Li-mei Hoang, 500 words

TPG's move for Australia's Treasury Wine sets up bid clash

SYDNEY/HONG KONG - Private equity giant TPG Capital Management LP makes a $3.1 billion approach for Australia's Treasury Wine Estates Ltd, a source says, setting the scene for a possible bid war for the world's No.2 winemaker with rival KKR & Co. (TREASURY WINE-KKR/MERGERS (UPDATE 2), moved, 500 words)

RBS set to offload Coutts International - source

ZURICH - State-backed Royal Bank of Scotland is preparing to offload the international arm of its private bank, separating it from the UK unit, according to a source familiar with the matter. (ROYAL BANK SCOT/COUTTS (EXCLUSIVE, UPDATE 1), expect by 0930 GMT/5.30 AM ET, 500 words)

ECONOMY

US jobs growth lags company profits, revenues

WASHINGTON - Employment growth at the largest U.S. companies has lagged far behind increases in revenue and operating profit since the start of the century, as firms reap the benefits of globalization, technology, and other ways to operate more productively, according to a Reuters analysis of corporate data. (USA-ECONOMY/EMPLOYMENT (INSIGHT, PIX, GRAPHIC), moved, by Howard Schneider, 1,500 words)

BOJ warns of sluggish export recovery

TOKYO - Sluggish Asian demand and a shift in Japanese production overseas will continue to weigh on exports, the Bank of Japan says, underscoring its waning conviction that overseas shipments will soon pick up and support a fragile economic recovery. (JAPAN ECONOMY/BOJ (UPDATE 1), moved, 500 words)

COMPANIES

Sanofi bets on inhaled insulin with Mannkind deal

PARIS/LONDON - French drugmaker Sanofi is betting on inhaled insulin as an alternative option to daily injections for diabetics by signing a worldwide licensing agreement with MannKind Corp worth up to $925 million. (SANOFI-MANNKIND/ (UPDATE 1), moved, by James Regan and Ben Hirschler, 700 words)

Trade of S.Africa's Abil suspended after $1.6 bln rescue

JOHANNESBURG - Trade in shares of South Africa's African Bank Investments is suspended, a day after the central bank stepped in with a $1.6 billion plan to rescue the unsecured lender from a flood of bad debts. (ABIL-BAILOUT/ (UPDATE 2), expect by 1100 GMT/7 AM ET, by David Dolan, 600 words)

China State Grid quietly builds Mediterranean power network

PARIS/HONG KONG/MILAN - The European Commission has long wanted the continent's power grids to work in unison for reasons of efficiency and supply security, so far to little avail, but a regional power network could soon be a reality, courtesy of State Grid Corporation of China. (UTILITIES MEDITERRANEAN/CHINA, moved, by Geert De Clercq, Charlie Zhu and Stephen Jewkes, 900 words)

How firms learn to live with China antitrust raids

HONG KONG/BEIJING - Several major foreign companies have been raided in recent months as China steps up enforcement of a 2008 anti-monopoly law. The raids have spawned a cottage industry in preparing multinational companies on some basic do's and don'ts in the event of a surprise visit. (CHINA-ANTITRUST/RAIDS (PIX), moved by Michelle Price and Norihiko Shirouzu, 1,000 words)

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