Yahoo is buying Tumblr for $1.1 billion, and wealthy households in France paid more than 100 percent of their income in taxes in 2012. CNBC's Robert Frank and John Carney discuss.» Read More
*EU says FTA with China would depend on concessions from Beijing. BRUSSELS, May 21- The European Union is willing to deepen trade ties with China but wants to see concessions from Beijing first, documents seen by Reuters on Tuesday showed.
*Follows Commission consultations with member states. BRUSSELS, May 21- The European Union wants to exempt state control of utilities and support for creative industries from free trade talks with the United States due to start next month, the latest draft of Brussels' negotiating mandate showed on Tuesday.
*German wholesale power is cheaper than in France, Netherlands. LONDON/ FRANKFURT, May 21- German households are paying for ever cheaper wholesale power supplies to industry as the government uses money from soaring domestic bills to subsidise renewable energy, in turn creating overcapacity on the country's grid.
*Liaising with UAE authorities, seeking quick resolution. DUBAI, May 21- Arabtec, Dubai's largest construction firm, said on Tuesday the delivery of projects was unaffected by what it called a partial labour stoppage, adding it was working with authorities in the United Arab Emirates to resolve the issue.
STRASBOURG, France, May 20- A draft law that a group of European Union lawmakers voted for on Monday would shield small depositors from losing their savings in future bank rescues, but customers with more than 100,000 euros in savings when a bank failed could suffer losses.
GENEVA, May 20- Leaders of the multibillion-dollar global business aviation industry see signs of recovery from four years of recession, they said on Monday, but they appealed to governments to ease the way ahead by cutting taxes and red tape.
Yahoo is buying Tumblr for $1.1 billion, and wealthy households in France paid more than 100 percent of their income in taxes in 2012. CNBC's Robert Frank and John Carney discuss.
May 20- The final countdown is under way to the maiden flight of the Airbus A350, Europe's answer to the Boeing 787 Dreamliner. *First, engineers at Airbus headquarters near Toulouse in southern France will turn on the Auxiliary Power Unit, a small turbine engine under the tail, used for power on the ground.
*Paris air show flypast depends on maiden flight. PARIS, May 20- Airbus could steal the Paris air show with a flypast of its newest passenger jet, the A350, as confidence grows over a maiden flight some four weeks away.
NEW DELHI- India and China will study new ways to ease tensions along their ill-defined border, Chinese Premier Li Keqiang said on Monday in his first foreign trip since taking office, which comes just weeks after a military stand-off between the Asian giants in the Himalayas.
*Nigeria says to cut domestic debt over 3-5 years. LAGOS, May 20- Nigeria will increase the amount it borrows overseas to around 40 percent of all debt over the next three to five years, from 12 percent currently, to lower its funding costs, the head of the debt office said on Monday.
CANNES, France-- The Coen brothers' resurrection of the pre-Dylan folk scene in Greenwich Village serenaded Cannes with its period music and melancholy tale of a self-destructive, feline-toting musician. "Inside Llewyn Davis" was met rapturously at the Cannes Film Festival, where it premiered Sunday night.
ALGIERS, Algeria-- An editor has accused Algeria's government of censorship after it blocked the publication of his two newspapers.
MONACO-- The glittering star power of Cannes migrated up the coast to Monaco for front-row seats at Dior's colorful, sexy cruise fashion show. With the Mediterranean Sea the picturesque backdrop, Dior showcased its 2014 collection on Saturday night.
CANNES, France-- There's something nasty lurking in the woods _ and inside the characters' heads _ in darkly comic Cannes Film Festival entry "Borgman." Van Warmerdam established a distinctive vein of macabre humor in previous films including the fairy tale-inspired "Grimm" and acerbic old-age portrait "The Last Days of Emma Blank."
LONDON, May 20- U.S. corn futures were lower for new crop contracts on Monday, weighed by a pick-up in planting progress in the United States, while tight supplies boosted old crop prices.
LONDON/ STRASBOURG, France, May 20- A European Union law up for a vote on Monday will only fully shield taxpayers from bailing out troubled banks if there is a global framework as well, a top UK regulator said on Monday.
*MSCI Asia Pacific ex- Japan rises 0.9 percent. SINGAPORE, May 20- The yen edged higher on Monday after Japan's economics minister said further weakness in the yen could harm households, while Asian shares rose in response to U.S. equities rallying on upbeat economic data.
PARIS, May 19- France is in talks with the United States and Israel to buy intelligence-gathering drones to build up a modern fleet, Defence Minister Jean-Yves Le Drian said on Sunday. There are currently two countries in the world that build drones, the United States and Israel, " Le Drian said on TV channel iTele.
France has a special responsibility as a euro zone heavyweight to take deficit cuts seriously, even though its budget deficit is above target, Bundesbank chief Jens Weidmann said in an interview published Sunday.