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  • Daimler Q1 earnings nearly double on new models Tuesday, 28 Apr 2015 | 2:36 AM ET

    FRANKFURT, Germany— German automaker Daimler AG says it nearly doubled net profit in the first quarter from a year ago, to 2.050 billion euros, thanks to strong demand for its Mercedes-Benz luxury cars across major markets. The company on Tuesday credited its investment in renewing its model line, including a new C-Class and an expanded range of smaller vehicles.

  • PARIS— Royal Philips NV, the world's biggest lighting maker, says its net profit slumped 27 percent to 100 million euros in 2015' s first quarter as higher restructuring costs wiped out gains from higher sales. Sales rose 14 percent to 5.34 billion euros, as a strong growth from Philips so-called "Consumer Lifestyle" division offset slow or falling sales from its...

  • SYDNEY/ TOKYO, April 28- The euro hovered near a three-week peak on Tuesday, having pushed higher overnight as the dollar came under broad pressure and on renewed hopes that cash-strapped Greece was a step closer to securing fresh funding. Greek Prime Minister Alexis Tsipras on Monday reshuffled his team handling talks with European and IMF lenders, a move...

  • FOREX-Euro perks up on Greek hopes, dollar dips Monday, 27 Apr 2015 | 7:35 PM ET

    SYDNEY, April 28- The euro hovered just under a three-week peak early on Tuesday, having pushed higher overnight as the dollar came under broad pressure and on renewed hopes that cash-strapped Greece was a step closer to securing fresh funding. Greek Prime Minister Alexis Tsipras on Monday reshuffled his team handling talks with European and IMF lenders, a move...

  • FRANKFURT, April 27- A radical plan for Deutsche Bank to become a pure investment bank and corporate lender was dropped after stress tests demanded by the European Central Bank concluded the model would not withstand a severe financial crisis, sources said. Deutsche Bank, Germany's biggest lender, has spent much of this year looking at ways of reconfiguring its...

  • The game of chicken between Greece and its international creditors is turning into a vicious blame game as Athens lurches closer to bankruptcy with no cash-for-reform agreement in sight. Europe's political leaders and central bankers and Greek politicians agree on only one thing: if Greece goes down, they don't want their fingerprints on the murder weapon.

  • REUTERS BUSINESS NEW SCHEDULE AT 1830 GMT/2:30 PM ET Monday, 27 Apr 2015 | 2:38 PM ET

    Apple Inc is expected to report a 20 percent increase in quarterly profit and that iPhone sales in China surpassed those in the United States for the first time., expect by 1930 GMT/ 4:30 PM ET, by Bill Rigby, 200 words). -BARRICK GOLD-RESULTS/, expect by expect by 1930 GMT/ 4:30 PM ET, 200 words). U.S. stocks move lower as healthcare stocks led by Amgen drag on the three major...

  • *Cap Gemini to buy U.S.-based IGATE for $4 bln. *Cap Gemini shares up 7.5 pct, IGATE shares rise to offer price. PARIS, April 27- Cap Gemini SA, a French information technology services company, said it will buy U.S.-based rival IGATE Corp for $4 billion in a deal that would make North America into its biggest market and hand IGATE's founders a $1 billion windfall.

  • VW chairman quits, but questions over future remain Monday, 27 Apr 2015 | 12:05 PM ET

    FRANKFURT, Germany— Volkswagen's patriarch has left the building. Ferdinand Piech shaped the company's destiny for more than 25 years. Piech had criticized CEO Martin Winterkorn in an interview with Germany's Der Spiegel magazine, saying he was "at a distance" from him.

  • The shock departure of Piech, a dominant figure at VW for over two decades, leaves IG Metall's former national leader Berthold Huber as acting chairman of Europe's biggest carmaker. At Deutsche Bank, opposition from the Verdi union to a wholesale disposal of the lender's retail operations helped convince co-CEOs Anshu Jain and Juergen Fitschen to ditch their...

  • REUTERS BUSINESS NEW SCHEDULE AT 1500 GMT/11 AM ET Monday, 27 Apr 2015 | 11:00 AM ET

    Editor: Alden Bentley +646 223 6200. Cap Gemini to buy U.S.-based IGATE for $4 bln, raises 2015 outlook. PARIS- Cap Gemini plans to buy United States- based IGATE Corp for $4 billion cash to make North America its biggest market and is raising its sales outlook for 2015 after a solid first-quarter, the French IT services company says.

  • *Cap Gemini to buy U.S.-based IGATE for $4 bln. *Cap Gemini shares up 7.5 pct, IGATE shares rise to offer price. PARIS, April 27- French IT services company Cap Gemini plans to buy U.S.-based rival IGATE Corp for $4 billion, in a deal that makes North America its biggest market and hands IGATE's founders a $1 billion windfall.

  • NEW YORK— French technology company Capgemini is paying about $4 billion to buy U.S. rival iGate Corp. and expand its presence in North America. IGate offers similar information technology services to financial services companies and other industries. Capgemini says it will gain new clients with the deal, including General Electric Co. and the Royal Bank of...

  • *Yemen faces mounting humanitarian crisis. LONDON, April 27- Yemen is facing mounting problems bringing in food by sea as the danger from fighting between Houthis and government supporters is exacerbated by an arms blockade by Saudi-led coalition navies searching ships for weapons destined for the rebels. The Arabian peninsula's poorest country, Yemen...

  • BERLIN, April 27- Investors hope that Volkswagen will be able to revive profitability at its core division, cure underperformance overseas and bury lingering plans for acquisitions after the resignation of Chairman Ferdinand Piech. Piech, the mastermind of VW's global expansion and a towering figure at the German group for more than two decades, stepped down...

  • UPDATE 3-Investors question Deutsche Bank's overhaul Monday, 27 Apr 2015 | 6:10 AM ET

    *To exit 7-10 countries but invest in India, China. FRANKFURT, April 27- Deutsche Bank's biggest strategic overhaul under co-chief executives Anshu Jain and Juergen Fitschen got a thumbs down from investors on Monday who judged it too little too late. Germany's flagship lender has trailed rivals under the tenure of Jain and Fitschen who despite the...

  • ATHENS, Greece— Greece reshuffled its bailout negotiating team on Monday following fierce criticism of its finance minister, meeting with market applause as investors hoped it will facilitate a deal to save the country from bankruptcy. Tsakalotos is close to Prime Minister Alexis Tsipras and has often accompanied Varoufakis on trips to European capitals...

  • *Deutsche Bank down 4.9 percent. LONDON, April 27- European shares edged lower on Monday, with persistent concerns about Greece's debt situation prompting some investors to take profits after recent strong gains. Deutsche Bank fell 4.9 percent as investors doubted whether co-chief executives Anshu Jain and Juergen Fitschen would meet their new targets.

  • European shares fall, Greek concerns weigh Monday, 27 Apr 2015 | 3:29 AM ET

    LONDON, April 27- European shares edged lower in early trading on Monday, with lingering concerns over Greece's debt situation prompting investors to trade cautiously at the start of a new week. German Finance Minister Wolfgang Schaeuble hinted on Saturday that Berlin was preparing for a possible Greek default, drawing a parallel with the secrecy of German...

  • FRANKFURT, Germany— Deutsche Bank says its reorganization will mean spinning off its Postbank branches in Germany through a share offering, closing offices in some countries, and eliminating less profitable business at its investment banking division. Deutsche Bank has struggled to maintain the profits investors want to see while meeting regulatory...