June 20, 2014 / 12:40 PM / 3 years ago

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TOP STORIES

Siemens-Mitsubishi raises Alstom offer as end-game nears

PARIS/FRANKFURT - Siemens and Mitsubishi Heavy Industries add a billion euros to their offer for Alstom's energy business, hoping to see off a revamped bid by General Electric ahead of Monday's deadline for a decision on the struggling company's fate. (ALSTOM-OFFER/ (UPDATE 1, PICTURE, TV), moved, by Mark John and Maria Sheahan, 820 words)

+ See also:

- ALSTOM-SIEMENS/ (FACTBOX), moved, 455 words

Shire rejects AbbVie's $46 billion takeover bid

LONDON - British drugmaker Shire has rejected a 27 billion-pound ($46 billion) takeover offer from AbbVie, the latest attempt by a U.S. healthcare firm to tap into lower tax rates abroad via an acquisition. (ABBVIE-SHIRE/ (UPDATE 3), moved, by Kate Holton and Chris Vellacott, 830 words)

Iraq worries keep oil near $115 a barrel

LONDON - Oil trades at close to nine-month highs, on course for a second week of gains, as violence in Iraq raises worries over supplies. Stock markets remain upbeat. (MARKETS-GLOBAL/ (WRAPUP 4), moved, by Patrick Graham, 520 words)

Banks to find out soon if ECB will supervise them -Bundesbanker

FRANKFURT - Euro zone banks will be told sooner than expected whether they will fall under the direct supervision of the European Central Bank, a Bundesbank board member says, noting that an unprecedented review of the bloc's banks was on schedule. (BUNDESBANK/BANKS (INTERVIEW), moved, by Eva Taylor and Andreas Framke, 510 words)

+ See also:

- ECB/MERSCH-BANKINGUNION, moved, 300 words

- GERMANY-HOUSING/BUNDESBANK (INTERVIEW), moved, by Eva Taylor and Andreas Framke, 275 words

INVESTMENT

With markets at crossroads, investors eye 'special situation' funds

LONDON - Hedge fund managers who seek out quick returns from company turnarounds and short-term bets on specific assets are in fashion as investors ponder their next move after long rallies in stocks and bonds. (HEDGEFUNDS-STRATEGY/ (TV), moved, by Simon Jessop, 800 words)

ECONOMY

Yellen gives the green light for more stock gains

NEW YORK - Federal Reserve chief Janet Yellen signals that rational exuberance is just fine. That, at least, is how some of America's largest money managers interpreted her comments on Wednesday suggesting interest rates will remain low through 2016. (USA-MARKETS/FED (ANALYSIS), moved, by Luciana Lopez and Jennifer Ablan, 1,140 words)

ECB joins IMF to tell Europe now is the time for reforms

LUXEMBOURG - Very low borrowing costs give Europe an excellent opportunity to carry out reforms urgently need to bolster growth and public finances, ECB executive board member Benoit Coeure says. (EU-ECONOMY/REFORMS, moved, by Ingrid Melander and Annika Breidthardt, 350 words)

+ See also:

- EU-ECONOMY/REVIEW, moved, by Ingrid Melander and Martin Santa, 380 words

Ukraine must strike at heart of corruption to survive-adviser

TBILISI - Ukraine must take brave measures to transform an economy hooked on cheap Russian gas, huge state spending and corruption into an investment destination able to bolster a weak state, an economic adviser to the government says. (UKRAINE-ECONOMY/REFORM (INTERVIEW), moved, by Margarita Antidze, 785 words)

Kenya attacks undermine plans for east African trade hub

LAMU, Kenya - The latest in a string of militant attacks on Kenya's coast has dealt a fresh blow to the economy, but the threat this time goes beyond the tourist trade to an ambitious $25.5 billion port and transport scheme next to the historic town of Lamu. (KENYA-ATTACKS/ECONOMY (PICTURE), moved, by Drazen Jorgic, 1,130 words)

UK May public finances show little sign of lower borrowing

LONDON - Britain's public finances show little or no fall in underlying borrowing two months into the fiscal year, suggesting the government will have to increase the pace of deficit reduction to meet its latest borrowing targets. (BRITAIN-BORROWING/ (UPDATE 1), moved, by David Milliken and Andy Bruce, 660 words)

COMPANIES

Strong TSB debut lifts prospects for future share sales

LONDON - Shares in TSB rise sharply following its debut on the London Stock Exchange after Lloyds Banking Group sells more of the offshoot business than originally planned, raising the prospect of a further sale this year. (LLOYDS-TSB/ (UPDATE 3), moving shortly, by Matt Scuffham, 760 words)

UBS faces criminal probe for Puerto Rico bond fund sales -lawyers

NEW YORK - U.S. authorities are probing UBS AG for criminal fraud after a former broker in Puerto Rico allegedly directed clients to improperly borrow money to buy mutual funds that later plunged, according to lawyers representing some of the investors. (UBS-PUERTORICO/FRAUD (EXCLUSIVE, PICTURE), moved, by Emily Flitter, 810 words)

TPG, Carlyle seek about $2.4bln in Australia Healthscope IPO-source

HONG KONG - Private equity firms TPG Capital and Carlyle Group are planning to raise about A$2.5 billion in an initial public offering of shares in Healthscope Ltd, Australia's biggest private hospitals operator, a source with direct knowledge of the plan tells Reuters. (HEALTHSCOPE-IPO/ (EXCLUSIVE, UPDATE 2), moving shortly, by Stephen Aldred, 350 words)

Bank of Portugal wants CEO of BES to quit - sources

LISBON - The Bank of Portugal wants the chief executive of Banco Espirito Santo (BES) to quit, three people familiar with the matter say, following the discovery of financial irregularities at a holding company that owns a stake in BES. (PORTUGAL-ESPIRITOSANTO/ (UPDATE 1), moved, 320 words)

Britain's Royal Mail warns regulator of threat from competition

LONDON - Britain's Royal Mail has submitted a report to regulator Ofcom over the threat to the country's postal service it says is posed by competitor TNT Post. (ROYAL MAIL/OFCOM (UPDATE 1), moved, by Li-mei Hoang, 315 words)

BofA asks Holder to meet with its CEO -sources

NEW YORK/WASHINGTON - Brian Moynihan may be taking a play out of Jamie Dimon's book. Representatives of Bank of America Corp have asked U.S. Attorney General Eric Holder to meet with Moynihan, its chief executive officer, in an attempt to resolve differences over a possible multibillion-dollar settlement involving shoddy mortgage securities sold by the second-largest U.S. bank and its units, according to people familiar with the negotiations. (USA-BANKS/HOLDER (EXCLUSIVE, PICTURE), moved, by Karen Freifeld and Aruna Viswanatha, 740 words)

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