June 6, 2014 / 12:55 PM / 3 years ago

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TOP STORIES

U.S. jobs report brightens economy's prospects

WASHINGTON - U.S. employers maintain 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 2), moved, by Lucia Mutikani, 470 words)

+ See also:

- FED/POWELL (UPDATE 1), moved, by Marc Jones and Francesco Canepa, 290 words

Draghi to keep markets waiting for any more ECB action

FRANKFURT - European Central Bank chief Mario Draghi has whetted markets' appetite for more ECB policy action but investors will have to wait some time before he uses the only real option he has left - a major asset-buying plan. (ECB/RATES-POLICY, expect by 1300 GMT/9 AM ET, by Paul Carrel, 600 words)

+ See also:

- ECB/CONSTANCIO (UPDATE 2), moving shortly, by Marc Jones and Francesco Canepa, 480 words

- EUROPE-ECB/NOWOTNY-RATES (UPDATE 1), moved, by Michael Shields, 540 words

Vodafone reveals global scale of telephone surveillance

LONDON - The world's second-biggest mobile phone company Vodafone reveals government agencies in six unidentified countries use its network to listen to and record customers' calls, showing the scale of telecom eavesdropping around the world. (VODAFONE GROUP-DISCLOSURE/ (UPDATE 1), moved, by Kate Holton and Sarah Young, 745 words)

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

MARKETS & INVESTMENT

Europe stocks, bond up post-ECB, U.S. jobs eyed

LONDON - European stocks rise and bond yields tumble in markets buoyed by the European Central Bank's promise of another tidal wave of deflation-busting cash, but impending U.S. jobs data keep investors cautious. (GLOBAL-MARKETS/ (WRAPUP 5), moving shortly, by Jamie McGeever, 785 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/9 AM ET, by Jamie McGeever and John Geddie, 850 words)

Investors ignore risk in favour of value in Zimbabwe'

JOHANNESBURG - Zimbabwe's stock market has fallen so far from last year's peak that some investors are stepping back in to scoop up consumer-oriented African growth plays. (ZIMBABWE-STOCKS/AFRICA INVESTMENT (PICTURE), moved, by Helen Nyambura-Mwaura, 940 words)

ECONOMY

IMF's Lagarde says not a candidate for EU Commission job

LONDON - IMF Managing Director Christine Lagarde rules herself out of the running for the job of European Commission president, saying she intends to complete her term in charge of the International Monetary Fund. (EU-COMMISSION/LAGARDE (UPDATE 1), moved, 320 words)

Don't be complacent, warns EU's top economic official

LONDON - Dramatically reduced borrowing costs for Europe's weakest economies risk making governments complacent about structural reforms needed for growth, the European Commission's most senior economics official says. (EU-ECONOMY/COMMISSION (INTERVIEW), moved, by Laura Noonan, 835 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)

IMF tells Britain to rein in riskier mortgages

LONDON - The International Monetary Fund urges Britain to rein in risky mortgages to cool the housing market, the strongest warning yet from an international organization about the risk of a property price bubble. (IMF-BRITAIN/ (UPDATE 1), moving shortly, by David Milliken, 830 words)

+ See also:

- BOE-HOUSEPRICES/, moved, 145 words

- BRITAIN-TRADE/, moved, 300 words

- BRITAIN BOE/INFLATION, moved, 300 words

China to boost bank lending power, though IMF says no need

BEIJING - China aims to cut the proportion of cash that commercial banks must keep with the People's Bank of China, the banking regulator said on Friday, signalling further monetary loosening although the IMF and World Bank say the economy is doing fine. (CHINA-ECONOMY/ (WRAPUP 2), moved, by Koh Gui Qing, 675 words)

Basel chief says no appetite to ditch banks' risk model

LONDON - The global rules used by banks to assess how much capital they need to hold to limit risk will be simplified not scrapped in the face of criticism from the UK and U.S. over how the rules are interpreted, a top regulator says. (G20-BANKING/REGULATIONS (UPDATE 1), moved, by Huw Jones, 400 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)

+ See also:

- SPAIN-DEBT/, moved, 360 words

- SPAIN-ECONOMY/STIMULUS, moving shortly, 300 words

COMPANIES

Putin's punt to beef up Gazprom threatens economy

MOSCOW - President Vladimir Putin's idea to recapitalise Gazprom raises more questions than answers, but there is agreement on one point: any further spending from state saving funds is risky amid Western sanctions. (RUSSIA-GAZPROM/RECAPITALISATION, expect by 1300 GMT, 900 words)

JPMorgan investment head "laser focused" on cutting costs

LONDON - JPMorgan's new solo head of its investment bank says he will be "laser focused" on reducing costs as the industry is likely to face a tough couple of years to grow revenues. (JPMORGAN-INVESTMENTBANK/ (INTERVIEW), expect by 1600 GMT/12 PM ET, by Steve Slater, 500 words)

Monte Paschi share price slips on cash call discount

MILAN - Shares in Banca Monte dei Paschi di Siena fall less than expected after the Tuscan lender priced its upcoming 5 billion-euro ($6.8 billion) rights issue at a big discount. (MONTEPASCHI/ (UPDATE 1), moved, 470 words)

Erste sees bank regulation as biggest constraint on lending

LONDON - The longest-serving chief of a major European bank, Erste's Andreas Treichl has earned a reputation for speaking his mind, clashing publicly with Austrian politicians who propped up his bank and speaking out against a swell of regulation. (BANKS-ERSTE/ (INTERVIEW), moved, by Laura Noonan, 985 words)

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)

Black taxis challenge US service Uber for streets of London

LONDON - They have been the kings of the British capital's roads for over a century but now the often opinionated drivers of London's iconic black taxi cabs are battling a high-technology rival that threatens their dominance. (BRITAIN-TAXIS/ (PICTURE), moved, by Jack Stubbs, 960 words)

COMMODITIES

Metal shipped out of China port under probe; IPO debut weak

QINGDAO, China/SYDNEY - Some copper cargoes held at China's Qingdao Port were being shipped to more regulated LME warehouses, industry sources said, as banks and trading houses took precautions over a probe into metal financing at the world's seventh-busiest port. (CHINA-QINGDAO/ (WRAPUP 1), moved,

by Fayen Wong and Melanie Burton, 710 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)

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