David Cameron, British prime minister, tells CNBC ahead of the EU Summit on tax fraud that he 'believes in low taxes for businesses' and highlights that international cooperation is crucial to tackle tax evasion.» Read More
LONDON, May 22- The International Monetary Fund called on Britain's government on Wednesday to do more to speed up slow economic recovery, hinting that the country might be able to afford to borrow more to fund investment.
BRUSSELS, May 22- European leaders will discuss how to combat aggressive tax avoidance by major companies such as Amazon, Google and Apple at a summit on Wednesday, and cut the estimated 1 trillion euros a year the EU loses to tax evasion or avoidance.
LONDON, May 22- European shares fell from multi-year highs on Wednesday, with luxury goods stocks among the worst performers, as some investors sold in anticipation of a near-term pull-back in the market. Federal Reserve chief Ben Bernanke is due to speak later in the day and the U.S. central bank is also due to release minutes of its May policy meeting.
SEOUL/ BEIJING- North Korea sent one of its top military officials as a "special envoy" from its leader Kim Jong- un to Beijing on Wednesday, accompanied by a high-powered delegation in what appeared to be a bid to mend frayed relations with its most important ally.
*Coming Up: Fed Chairman Bernanke speaks at 1400 GMT. LONDON, May 22- Gold rose on Wednesday as the dollar fell after Federal Reserve officials allayed investor concerns that the U.S. central bank would soon reduce its bond-buying programme, while Chinese physical demand also lent some support to prices.
*Freeport death toll rises, mine remains shut. LONDON, May 22- Copper rose to its highest level in two weeks on Wednesday, as the dollar weakened and a production outage at world's second-largest copper mine in Indonesia after a tunnel collapse looked set to continue indefinitely.
David Cameron, British prime minister, tells CNBC ahead of the EU Summit on tax fraud that he 'believes in low taxes for businesses' and highlights that international cooperation is crucial to tackle tax evasion.
*Potential sales of $35 bln a year over next 10 years- Citigroup. That bullish sales forecast by analysts at U.S. bank Citigroup highlights the growing excitement surrounding so-called immunotherapy after positive results from clinical trials conducted by companies such as Bristol-Myers Squibb and Roche Holding.
*Sony board to assess proposal to spin off entertainment arm. Struggling electronics giant Sony Corp, though, with more foreign and fewer bank shareholders, may prove something of an exception.
*Gold, copper gain on hopes of Fed support. LONDON, May 22- The dollar and benchmark German debt yields eased on Wednesday as expectations hardened that the head of the U.S. central bank will later in the day signal no tapering back of its ultra-loose monetary policy.
The answer, in the luxury carmaker's German showrooms, is more than it takes to shift an Audi- just part of the cost gap Daimler wants to close with its premium rivals. Among the top three, Mercedes depends on its unprofitable company-owned dealerships for a bigger share of domestic sales than either Volkswagen's Audi or BMW, which rely more on franchises.
LONDON, May 22- Brent crude oil dropped towards $103 per barrel on Wednesday after data showing a surprise jump in U.S. gasoline stockpiles sparked worries that summer demand in the world's top oil consumer could be weaker than expected.
LONDON, May 22- The dollar shed some of its lofty gains against a basket of currencies on Wednesday, as investors trimmed favourable bets before testimony from the U.S. Ben Bernanke will deliver his testimony to Congress at 1400 GMT and is expected to strike a somewhat optimistic view of the economy.
FRANKFURT, May 22- Almost a year after ECB President Mario Draghi vowed to do whatever it takes to save the euro, a key indicator of euro zone tension is much diminished and economic recovery will likely bring further improvement.
LONDON, May 22- European shares edged back on Wednesday from multi-year highs as the luxury goods sector lagged, with many investors reluctant to take new positions before comments on policy from the head of the U.S.
Alastair Newton, senior political analyst at Nomura, talks about the likelihood of a referendum on EU membership and says a "Brixit" could still happen in the coming five years.
Ben Bernanke, who speaks before the Joint Economic Committee of the U.S. Congress at 1400 GMT, is expected to follow the line set by two other Federal Reserve officials, who struck a dovish tone on the economy on Tuesday. "
LONDON, May 22- European shares steadied near multi-year highs on Wednesday, as caution ahead of testimony from the head of the U.S. Federal Reserve head Ben Bernanke may provide further clues on the Fed's policy at a speech later on Wednesday. Any pullback presents a buying opportunity, "said Terry Torrison, managing director at Monaco- based McLaren Securities.
BRUSSELS/ PARIS, May 21- Growing concern in European capitals about aggressive tax avoidance by high-profile corporations such as Amazon, Google and Apple looks set to steal the agenda of a European Union summit in Brussels on Wednesday.
May 22- Foreign banks that once treated Russia as an undiscovered country where easy money could be made are now finding it a cut-throat market tougher than some bargained for.