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BUSINESS-NEWS-SCHEDULE AT 0830 GMT / 4.30 AM ET
June 12, 2014 / 9:06 AM / 3 years ago

BUSINESS-NEWS-SCHEDULE AT 0830 GMT / 4.30 AM ET

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Top Stories

Top BNP exec to go amid US sanctions busting probe

PARIS - BNP Paribas' 64-year old Chief Operating Officer is to retire on Sept 30 and will step down from his duties on June 30 at his own request, the French bank says as it wrestles with U.S. authorities over a potential $10 billion fine. (BNPPARIBAS-USA/ (UPDATE 2), by Andrew Callus, expect by 0900 GMT/5 AM ET, 600 words)

+ See also:

- SOCIETEGENERALE-SUKUK/ (UPDATE 1), moved, 350 words

European shares rise, oil at 3-month high on Iraq anxiety

LONDON - European shares edge up though gains are limited by concerns over the pace of global growth, while oil prices hit a three-month peak on escalating violence in Iraq. ((MARKETS-GLOBAL/ (WRAPUP 4), expect by 0845 GMT/4.45 AM ET, by Emelia Sithole-Matarise, 600 words)

UK plans to make currency-rigging a crime, rejects EU rules

LONDON - British finance minister George Osborne will reject European Union plans to outlaw currency market manipulation and instead set out his own proposals to make rigging exchange rates a criminal offence. (FX-INVESTIGATION/OSBORNE, moved, by David Milliken, 755 words)

Spain seeks to ease debt repayment crunch with bond swap

LONDON - Spain is set to ease its hefty upcoming debt repayments by switching expensive debt it issued at the height of the euro zone crisis for a new 10-year bond - the first such exercise from Madrid in eight years. (MARKETS-BONDS/SPAIN, expect by 1100 GMT/7 AM ET, by John Geddie and Sarka Halas, 600 words)

Investment

What if the caution of the 'super rich' ebbs?

LONDON - Canny caution or bumbling oversight, the world's richest people have retained huge stockpiles of zero-yielding cash throughout the recent surge in financial asset prices. Their persistence may have, counter-intuitively, prolonged the buoyancy of those very assets in the process - helping to inflate the outsize wealth of the super-rich further. (INVESTMENT-PLUTONOMY/ (ANALYSIS:INYT COLUMN), moved, by Mike Dolan, 900 words)

Stock trading's race for speed has run its course

LONDON - The financial industry's multi-billion-dollar technological race for stock-market supremacy is petering out. After years of boosting profits with super-fast and super-efficient trading algorithms, deemed better and cheaper than human alternatives, banks and brokers are now facing persistent cost pressures, sceptical clients and more regulation that have effectively put a cap on the rewards from more spending on technology. (BANKS-TECHNOLOGY/TRADING, moved, by Lionel Laurent, 850 words)

Japan investors turn to REITs as inflation play

TOKYO - Yield-hungry investors have been betting that Japanese real estate investment trusts will pay off as asset prices rise and interest rates remain stable, with the instruments growing in popularity among both retail and institutional investors. (JAPAN-REITS/, moved, by Lisa Twaronite and Ayai Tomisawa, 700 words)

Foreign investors wait to see who will lead Indonesia

JAKARTA/TAIPEI - Billions of dollars in foreign investment hinge on next month's Indonesian presidential election, with at least one major company holding back after a former special forces general made a surprisingly strong entry into the fray. (INDONESIA-ELECTION/INVESTMENT, moved, by Eveline Danubrata and Faith Hung, 1,100 words)

Special Report

Foreign interns pay the price for Japan's labour shortage

HAKUSAN, Japan/HAIMEN, China - Foreign trainees, most of them from China, have become a source of exploited labour in Japan, a country that is both aging and shrinking but closed to immigration. That is especially for the family-run factories in the apparel industry, some of whom have supplied Japan's leading department stories and international fashion icon, Burberry. (JAPAN-LABOUR/ (SPECIAL REPORT, PICTURE, GRAPHIC), moved, by Alexandra Harney and Antoni Slodkowski, 3,150 words)

Economy

Diminished France loses influence in Europe

PARIS - France used to be at the forefront of European integration, but its clout has diminished in the last decade due to the bloc's eastward enlargement, the French rejection of a proposed EU constitution in a 2005 referendum and the country's economic stagnation and loss of competitiveness compared with Germany. (FRANCE-EU (ANALYSIS), expect by 1000 GMT/6 AM ET, by Paul Taylor and Ingrid Melander, 1,200 words)

ECB sees no deflation, will act swiftly if needed

FRANKFURT - The European Central Bank reiterates in its monthly bulletin its determination to act swiftly with further policy action if needed, adding that it saw no imminent risk of deflation in the euro zone. (ECB/BULLETIN, moved, 300 words)

UK house prices rise more than expected but growth to ease

LONDON - British house prices rise faster than expected in May but are likely to increase less over the next year as tighter lending conditions and concerns about the sector weigh on demand, a survey shows. (BRITAIN-PROPERTY/RICS, moved, 460 words)

China sees rapidly rising FX reserves creating difficulties

BEIJING - China's rapid accumulation of foreign-currency reserves creates difficulties for steering economic policy, officials with the nation's foreign exchange regulator say. (CHINA-ECONOMY/RESERVES (UPDATE 2), moved, by Kevin Yao and Aileen Wang, 645 words)

Managers removed at Turkey's embattled central bank -sources

ISTANBUL - Several mid-tier managers at Turkey's central bank have been removed, including two general managers and a private secretary to Governor Erdem Basci, sources familiar with the matter say. (TURKEY-CENBANK (UPDATE 1), moved, 350 words)

Thai junta finds funding easy to come by as banks lend again

BANGKOK - As Thailand's junta tries to pull the economy back from the verge of recession, the generals have a significant advantage over the government they ousted - the country's banks are prepared to lend them money, and cheaply too. (THAILAND-ECONOMY/BORROWINGS, moved, by Orathai Sriring, 1,000 words)

Swiss National Bank monetary policy poll

ZURICH - Reuters has surveyed over 30 economists for their views on the outlook for monetary policy ahead of the Swiss National Bank's meeting on June 19. (SNB-RATES/POLL, expect by 1220 GMT/8.20 AM ET, by Alice Baghdjian, 600 words)

Companies

Hitachi hopes to join Mitsubishi, Siemens in Alstom bid

TOKYO - Hitachi Ltd says it hopes to join Mitsubishi Heavy Industries and Siemens in their joint bid for Alstom's energy assets, which Japan's Nikkei newspaper says will be worth 1 trillion yen ($9.80 billion). (ALSTOM-SIEMENS/HITACHI (UPDATE 1), moved, 245 words)

Intel loses court challenge against EU's $1.44 bln fine

LUXEMBOURG - U.S. chipmaker Intel loses its challenge against a record 1.06-billion-euro ($1.44 billion) fine handed down by the European Union five years ago for blocking rival Advanced Micro Devices. (INTEL-COURT/EU (UPDATE 2), expect by 1100 GMT/7 AM ET, by Foo Yun Chee, 500 words)

AstraZeneca builds pipeline with $232 mln Synairgen deal

LONDON - AstraZeneca has struck a deal worth up to $232 million in milestone payments to acquire rights to a drug from Synairgen for treating respiratory tract viral infections in patients with severe asthma. (ASTRAZENECA-SYNAIRGEN/ (UPDATE 1), moved, by Ben Hirschler, 430 words)

Imperial eyes assets in any Reynolds-Lorillard deal -sources

NEW YORK - Imperial Tobacco Group is evaluating a deal for assets likely to be divested from Reynolds American Inc and Lorillard Inc if the two U.S. tobacco companies proceed with a proposed combination, according to people familiar with the matter. (IMPERIAL-DIVESTITURE/ (EXCLUSIVE), moved, by Olivia Oran and Soyoung Kim, 370 words)

Mulberry says sales down 15 pct in last 10 weeks

LONDON - English luxury handbag maker Mulberry's like-for-like retail sales fell 15 percent in the 10 weeks to June 7, it says, after an ill-fated move upmarket that is now being reversed. (MULBERRY RESULTS/ (UPDATE 1), moved, 290 words)

Infosys names first external CEO; chairman to step down

MUMBAI - India's Infosys Ltd named former top SAP executive Vishal Sikka as chief executive, the first time it has not chosen one of its founders for the role, as it looks to regain market share and stem a staff exodus. (INFOSYS-CEO/ (UPDATE 2), moved, by Nivedita Bhattacharjee and Sumeet Chatterjee, 950 words)

+ See also:

- TECH-INDIA/START-UPS (PICTURE, GRAPHIC), moved, by Nivedita Bhattacharjee and Sumeet Chatterjee, 1,350 words

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