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April 9, 2014 / 1:05 PM / 4 years ago

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TOP STORIES

European markets ride risk rebound, emerging markets shine

LONDON - Greece’s announcement that it will return to debt markets just two years after the biggest sovereign restructuring in history helps accelerate the investor dash back into riskier, but higher yielding, assets. (MARKETS-GLOBAL/ (WRAPUP 6), moved, by Marc Jones, 890 words)

Greece to end its bond market exile on Thursday- sources

LONDON/ATHENS - Bailed-out Greece is set to end its four-year exile from bond markets on Thursday with a five-year debt issue, three sources say. (GREECE-BONDS/ (UPDATE 2), moving shortly, by Alex Chambers and Lefteris Papadimas, 560 words)

+ See also:

- TURKEY-EUROBOND/ (UPDATE 2), moving shortly, by Seda Sezer and Behiye Taner, 735 words

ECB dismisses latest bank appeal over health-check deadlines

LONDON/MILAN - The European Central Bank has dismissed the latest appeal by the region’s biggest lenders for concessions, including easier deadlines, to make rigorous health checks of their industry less logistically onerous, sources tell Reuters. (EURO ZONE/BANK TESTS, moved, by Laura Noonan and Gianluca Semeraro, 555 words)

France’s odd couple takes aim at EU budget rules

PARIS - One is bald, bespectacled and a safe pair of hands; the other a firebrand who made his name riling business, Berlin and Brussels; together Michel Sapin and Arnaud Montebourg, the new duo in charge of France’s economic policy, have been charged with mounting a two-pronged assault on EU budget rules. (FRANCE-EU/DUO (ANALYSIS), expect by 1500 GMT/11 AM ET, by Mark John and Leigh Thomas, 800 words)

INSIGHT

Greece faces long road to recovery, despite rebound

PIRAEUS, Greece - Greece is experiencing a remarkable financial recovery and factories are beginning to hum again. Just two years ago, the country was expected to default and exit the euro, but for all the green shoots it is too early to talk about long-term economic stability. (GREECE-ECONOMY/ (INSIGHT, PICTURE), moved, by Karolina Tagaris, 1,200 words)

Ride to lower costs for LNG-run trucks rockier than expected

VANCOUVER - Just over a year ago, Canadian trucking firm Bison Transport took a bet on a potentially game changing technology, buying 15 big rigs powered by liquefied natural gas. It was attracted by the promise of cost cuts, but the reality has turned out much less rosy. (LNG TRANSPORTATION/TRUCKING, moved, by Julie Gordon, 1,350 words)

Puerto Rico tries to get grip on underground economy

LARES, Puerto Rico - Mattress maker Angel Lopez is both a problem and an opportunity for the Puerto Rican government. His one-man business works off the books as part of a vast underground economy, which doesn’t directly pay into the treasury’s coffers and is a major headache for an impoverished island that is $70 billion in debt. (USA-PUERTORICO/UNDERGROUND-ECONOMY (INSIGHT, PICTURE, TV), moved, by Luciana Lopez, 1,340 words)

AFRICA INVESTMENT SUMMIT

Retailers chase reward in booming but volatile Africa

KANO, Nigeria - Opening a modern supermarket in a city under threat from an Islamist insurgency, with the added uncertainty of wobbly public power supplies, may sound like a retailer’s nightmare. (AFRICA-SUMMIT/RETAIL (REUTERS SUMMIT, PICTURE), moved, by Pascal Fletcher, 1,255 words)

INVESTMENT

FX carry trades make a return, euro a likely sufferer

LONDON - Carry trades are back in vogue as investors grow more confident of a U.S.-led global recovery and easing in geopolitical tensions, drawing them back to risky emerging market currencies and at the likely expense of the euro. (MARKETS-FOREX/CARRY, moving shortly, by Anirban Nag, 900 words)

European policymakers set to reshape bundled debt market

LONDON - European policymakers are drawing up plans to fundamentally change the market for repackaged debt in a bid to attract investors back to a sector that triggered the worst financial crisis in a generation. (ECB-BOE/SECURITISATION, expect by 1300 GMT/9 AM ET, by Huw Jones, 750 words)

EU proposes bigger shareholder say over executive pay

LONDON - Listed companies across the European Union must get shareholder approval on pay policy for top executives under a draft European Union law aimed at making firms more answerable to their owners. (EU-SALARY/ (UPDATE 1), expect 1330 GMT/9.30 AM ET, by Huw Jones, 600 words)

ECONOMY

Merkel ally warns against “wrong signal” to France

BERLIN - One of Chancellor Angela Merkel’s chief allies in parliament criticises the centre-left candidate for European Commission president, Germany’s Martin Schulz, for saying France should get more time to cut its public deficit. (GERMANY-FRANCE/, moved, 320 words)

Funds boost China wagers as defaults signal reforms push

HONG KONG - China’s first-ever domestic bond defaults, a weakening currency and slowing growth are not normal buy signals, but money managers see them as a sign that the country’s reform drive is genuine and that stocks offer long-term value. (CHINA-FUNDS/, by Saikat Chatterjee and Nishant Kumar, moved, 950 words)

+ See also:

- HONGKONG-IMF/BANKING (UPDATE 1), moved, by Saikat Chatterjee, 400 words

As Japan weighs options, costs mount for idled reactors

TOKYO - Since March 2011, Japan’s government is focussing on the cost of cleaning up after Fukushima, the worst nuclear accident since Chernobyl. Now, the bill is coming due for another unbudgeted consequence of that disaster - shutting down the nation’s 48 remaining nuclear reactors for costly safety reviews that can see many of them mothballed. (JAPAN-NUCLEAR/, by Aaron Sheldrick and Osamu Tsukimori, moved, 900 words)

COMPANIES

Toyota to recall nearly 6.5 mln vehicles for steering, other faults

TOKYO - Toyota Motor Corp, in its second-largest recall announcement, says that it will call back 6.39 million vehicles globally after uncovering five different faults involving parts ranging from steering to seats. (TOYOTA MOTOR-RECALL/ (UPDATE 2, PICTURE), moved, 560 words)

Daimler to expand cost cuts to narrow gap with rivals

BERLIN - Daimler Chief Executive Dieter Zetsche says the German car and truck maker will continue to cut costs as its premium brand Mercedes-Benz seeks to narrow the profitability gap with rivals. (DAIMLER-AGM/SAVINGS (UPDATE 1), moved, by Edward Taylor 270 words)

Lenders grant breather to Rusal on $3.7 bln debt

MOSCOW/HONG KONG - Lenders have granted Russian aluminium group Rusal a three-month breather, giving the loss-making firm time to try to hammer out revised terms for $3.7 billion of debt repayments without risk of default. (RUSAL-REFINANCING/ (UPDATE 2), moved, by Polina Devitt and Donny Kwok, moved, 520 words)

Woolworths to pay $2 bln for Australian store group

SYDNEY - South African retailer Woolworths Holdings Ltd is set to buy Australia’s second-largest department store, David Jones, for $2 billion, trumping a merger proposal from Australian rival Myer Holdings Ltd with a hefty premium. (AUSTRALIA-DAVID JONES/WOOLWORTHS HLD (UPDATE 4, PICTURE), moving shortly, by Byron Kaye and Maggie Lu Yueyang, 800 words)

Sanctions trump patriotism for Russian banks in Crimea

SIMFEROPOL, Crimea/MOSCOW - In the rush to serve clients keen to open rouble accounts, staff at the first Russian bank to open its doors in Crimea have yet to find time to open the boxes stacked in the entrance or put up a proper sign. (UKRAINE-CRISIS/CRIMEA-BANKS, moved, by Alissa de Carbonnel and Elizabeth Piper, 1,100 words)

+ See also:

- RUSSIA-POLYUS/DELISTING (UPDATE 1), moved, 490 words

- RUSSIA-EVRAZ/ (UPDATE 1), moved, 295 words

India’s Sun Pharma plans Ranbaxy phase-out in US - sources

MUMBAI - India’s Sun Pharmaceutical Industries Ltd plans to begin phasing out sales of generic drugs branded as Ranbaxy Laboratories products in the United States after completing a $3.2 billion takeover of its loss-making rival, sources with direct knowledge of the matter say. (RANBAXY-SUNPHARMA/ (UPDATE 1), moved, by Sumeet Chatterjee and Zeba Siddiqui, 450 words)

Polish minister says HP to acknowledge ‘corrupt activities’

WARSAW - Poland’s government says that Hewlett-Packard Co. is preparing to acknowledge “corrupt activities” at its Polish unit after an industry-wide investigation into bribes allegedly paid in exchange for government computer contracts. (POLAND-HP/ (UPDATE 2), moved, by Adrian Krajewski, 550 words)

Samsung, Apple have smartphone margins on their minds

SEOUL - As the smartphone action shifts to the mass market, leaders Samsung Electronics Co Ltd and Apple Inc are under pressure to make their high-end phones more affordable to revive sales. And that may spell trouble for already-softening margins. (SAMSUNG ELEC/SMARTPHONES (ANALYSIS, PICTURE), moved, by Miyoung Kim, moved, 1,250 words)

Metro Bank founder to launch new UK online bank

LONDON - The founder of British banking newcomer Metro Bank plans to launch an online lender, hoping to take advantage of a sharp decline in the number of customers using branches and challenge established rivals. (BRITAIN-NEW BANK/ (UPDATE 1), moved, by Matt Scuffham, 455 words)

Cerberus pulls out of Seibu IPO as pricing slashed

TOKYO - Japanese railway and property conglomerate Seibu Holdings slashes the price of its initial public offering and says its largest shareholder, U.S. private equity firm Cerberus, will not participate in one of Japan’s biggest IPOs this year. (SEIBU HLDG-IPO/ (UPDATE 3), moved, by Ritsuko Ando, 690 words)

+ See also:

- OLYMPUS-LAWSUIT/ (UPDATE 1), moved, by Sophie Knight, 490 words

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