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  • ATHENS, Greece— Greek Prime Minister Alexis Tsipras heads to Brussels to discuss his proposal for a long-delayed deal with Greece's creditors that Athens hopes will unlock vitally needed bailout funds. Tsipras is scheduled to meet European Commission head Jean Claude Juncker Wednesday evening. Tsipras announced on Tuesday he had submitted his proposal...

  • *Spot gold was little changed at $1,193.16 an ounce by 0039 GMT, after gaining 0.4 percent on Tuesday. *Greece's creditors on Tuesday drafted the broad lines of an agreement to put to the leftist government in Athens in a bid to conclude four months of acrimonious negotiations and release aid before the cash-strapped country runs out of money.

  • *Tsipras: Athens sent creditors "realistic plan" to exit crisis. BRUSSELS/ ATHENS, June 2- Greece's creditors drafted the broad lines of an agreement on Tuesday to put to the leftist government in Athens in a bid to conclude four months of acrimonious negotiations and release aid before the cash-strapped country runs out of money. The joint effort by the European...

  • *Fintech labs planned for London, Berlin, Silicon Valley. FRANKFURT, June 2- Deutsche Bank aims to launch three technology innovation labs in Berlin, London and Silicon Valley this year designed to accelerate development of so-called "fintech" companies which could aid the banking sector and its clients. A spokesman for Deutsche Bank declined comment.

  • Business events scheduled for Wednesday Tuesday, 2 Jun 2015 | 1:52 PM ET

    WASHINGTON— Commerce Department releases international trade data for April, 8:30 a.m. Eastern. WASHINGTON— Institute for Supply Management releases its service sector index for May, 10 a.m.. WASHINGTON— Federal Reserve releases Beige Book, 2 p.m..

  • Greece casts shadow as ECB gauges strength of recovery Tuesday, 2 Jun 2015 | 11:07 AM ET

    Talks aimed at unlocking more bailout money for Greece have dragged on, even as Athens runs dangerously short of money and faces a possible default that could disrupt markets and lead to a messy departure from the 19- country euro. Greece faces four repayments to the International Monetary Fund in June, starting with just over 300 million euros due Friday.

  • *EU, U.S. trade officials preach benefits in Berlin. BERLIN, June 2- European and U.S. trade officials came to Berlin on Tuesday to try to drum up support for a transatlantic trade deal that faces growing opposition in Europe's biggest economy. "We have a unique opportunity here, we're both high-wage, well-regulated economies," said U.S. trade representative Michael...

  • *Tsipras: Athens sent creditors "realistic plan" to exit crisis. ATHENS/ PARIS, June 2- Greece's creditors are close to finishing a draft agreement to put to the leftist government in Athens, a source close to the talks said on Tuesday, injecting new momentum into long-running negotiations to release aid for the cash-strapped country. Hours earlier, Greek Prime...

  • *Greece makes first proposals on pension reform- Moscovici. ATHENS/ PARIS, June 2- Greece said on Tuesday it had sent a comprehensive reform proposal to its international creditors, urging them to be realistic and accept the plan to clinch a long delayed deal to release frozen aid before Athens runs out of cash. The announcement by leftist Prime Minister Alexis...

  • BERLIN, June 2- Ukraine's biggest private power producer DTEK hopes to hammer out a deal with banks by October to delay payment of most of its $3 billion in debt as it is unable to service obligations after being hit by the country's political crisis, its CEO said. About a third of DTEK's debt is public in the form of Eurobonds, but the vast majority is owed to banks...

  • JOHANNESBURG, June 2- When Wal-Mart Stores Inc spent $2.4 billion on a stake in South Africa's Massmart five years ago, the world's biggest retailer said it was buying a gateway to high-growth markets in sub-Saharan Africa. Massmart's slow inroads into the rest of the continent, touted as the next big growth area, highlight the challenges of doing business in...

  • Deflation fears ease as eurozone inflation returns Tuesday, 2 Jun 2015 | 5:02 AM ET

    LONDON— For the first time this year, consumer prices across the 19- country eurozone are rising, easing fears that the region is set for a prolonged Japan-style era of debilitating deflation. Official figures Tuesday from the European Union's statistics agency, Eurostat, showed that consumer prices across the single currency bloc were up 0.3 percent in May...

  • BERLIN, June 2- The impact of Brazil's protracted drought on EDP-Energias de Portugal's hydropower installations there could cut the utility's full-year core earnings by between 150 and 200 million euros, its chief executive said. "Hopefully it will be less than that, the lower end of that range, or even below," Antonio Mexia told Reuters on the sidelines of the...

  • ATHENS, Greece— Greece's prime minister will meet European Commission President Jean-Claude Juncker in Brussels on Wednesday to discuss his radical left-led government's proposal to secure a vital, long-overdue agreement with the country's bailout lenders. Without the rescue loans, Greece could default on its debts this month and eventually even drop...

  • DIARY- Top Economic Events to June 15 Monday, 1 Jun 2015 | 8:01 PM ET

    WASHINGTON- Federal Reserve Board Governor Lael Brainard speaks on the U.S. economic outlook and monetary policy at the Center for Strategic and International Studies- 1400 GMT. PARIS- Organisation for Economic Cooperation and Development Forum 2015. PARIS- European Central Bank board member Daniele Nouy speaks at the panel discussion "Unlocking...

  • BERLIN/ BRUSSELS, June 2- The leaders of Germany, France and Greece's international creditor institutions agreed late on Monday to work with "real intensity" in the coming days as they try to clinch a deal in debt negotiations with Athens. Athens and its creditors from the euro zone countries and the International Monetary Fund are racing to hammer out a deal that...

  • BERLIN/ BRUSSELS, June 1- The chiefs of the European Central Bank and the International Monetary Fund met the leaders of France and Germany late on Monday to discuss how to proceed with Greek debt negotiations. EU officials said ECB chief Mario Draghi and Christine Lagarde of the IMF joined the German and French leaders, and the president of the European...

  • NEW YORK, June 1- The U.S. dollar gained on Monday after a round of economic data kept expectations alive for an interest rate hike from the Federal Reserve this year, while the euro fell on worry about Greece's financial crisis and soft euro zone data. U.S. stocks closed modestly higher in a choppy session as a deal by Intel Corp to acquire Altera for $16.7 billion...

  • *Brent hit by dollar strength, expectation of no OPEC cuts. NEW YORK, June 1- Oil settled down as much as 1 percent on Monday, retreating from Friday's sharp rally on a strong dollar and concern over stubbornly high supplies as OPEC was expected to stick with robust production at its meeting this week. "OPEC continues to produce well above target, and also well above...

  • The euro zone has set a deadline of Friday to conclude the slow-moving talks to allow time for institutions and ministers to approve a deal and secure parliamentary backing to disburse frozen aid before Greece's bailout expires at the end of June. Athens is due to make a 300 million euro repayment to the International Monetary Fund on Friday amid growing...