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August 11, 2014 / 12:50 PM / 3 years ago

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TOP STORIES

Stocks rise after Russia steps back but gains fragile

LONDON - Global stocks bounce after recent sell-offs and core government debt prices fall as markets see a lowered risk of direct conflict between Russia and Ukraine, while Middle East tensions appear less acute. (MARKETS-GLOBAL (WRAPUP 5, PICTURE), moved, by Lionel Laurent, 600 words)

EU top officials seek to limit the damage of Russia food ban

BRUSSELS - EU regulators rush back from their holidays to analyse product by product the impact of a Russian ban on EU food announced last week in retaliation for Western sanctions over Moscow’s actions in Ukraine. (UKRAINE-CRISIS/FOOD), moved, by Barbara Lewis, 600 words)

RBS sets out disposal of Coutts outside Britain

ZURICH - Royal Bank of Scotland tells staff its venerable private bank Coutts outside Britain is in play, in a deal that a source familiar with the matter says could be valued around $1 billion. (ROYAL-BANK-SCOT/COUTTS (UPDATE 2, PICTURE), expect by 1400 GMT/10 AM ET, by Katharina Bart and Saeed Azhar, 500 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 (UPDATE 4), moved, by Li-mei Hoang, 500 words

ECONOMY

Turkish economy minister sees lower rates as vital

ANKARA - Turkey’s government will maintain its calls for lower interest rates following Prime Minister Tayyip Erdogan’s victory in the country’s first direct presidential election, the economy minister says. (TURKEY-ELECTION/ECONOMY (UPDATE 1), expect by 1400 GMT/10 AM ET, 500 words)

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, PICTURE, 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 2), moved, by James Regan and Ben Hirschler, 700 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)

No contagion risk as S.African bank’s shares halted

JOHANNESBURG - Shares in bailed-out South African lender African Bank Investments are suspended, but investors shrug off a financial meltdown that appears to pose no wider risk to the banking sector. (ABIL-BAILOUT/ (UPDATE 2), moved, by David Dolan, 600 words)

Germany’s Bilfinger flags cost cuts after CEO exit

FRANKFURT - German industrial services group Bilfinger, whose chief executive resigned last week after two profit warnings, says cost cuts in the second half of the year should help cushion an expected fall in annual profit. (BILFINGER-RESULTS/ (UPDATE 2), moved, by Marilyn Gerlach, 480 words)

EDF Energy shuts 3 UK nuclear reactors after fault found

LONDON - EDF Energy is taking three of its nuclear reactors in Britain offline for inspection this week after finding a defect in a reactor of a similar design, the company says. (BRITAIN-NUCLEAR/EDF (UPDATE 3), moved, by Nina Chestney, 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)

Frequent flyer schemes revamped to drive airline profits

BERLIN - Beset by low air fares and relentless competition, airlines around the world are waking up to the value of their frequent flyer programmes and realising they can boost profits as well as brand profile. (AIRLINES-FREQUENTFLYERS/, moved, by Victoria Bryan, 1,100 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 (PICTURE), moved by Michelle Price and Norihiko Shirouzu, 1,000 words)

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