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  • UNITED NATIONS, May 5- Washington wants to be certain that any nuclear deal between Iran and major powers includes the possibility of restoring U.N. sanctions if Tehran breaks the agreement without risking Russian and Chinese vetoes, a senior U.S. official said on Tuesday. United Nations sanctions and a future mechanism for Iran to buy atomic technology are two...

  • DIARY- Top Economic Events to May 18 Tuesday, 5 May 2015 | 8:01 PM ET

    WASHINGTON- Federal Reserve Chair Janet Yellen and International Monetary Fund Managing Director Christine Lagarde participate in " Finance and Society" conversation before the Institute for New Economic Thinking Conference on Finance and Society hosted by the IMF- 1315 GMT. WASHINGTON- Federal Reserve Bank of Kansas City President Esther George...

  • UNITED NATIONS, May 5- Iran and world powers are struggling to overcome deep divisions on two core sticking points in talks on a possible nuclear deal: reimposing U.N. sanctions if the Iranians violate the agreement and how Tehran can buy atomic technology, envoys said. The negotiations between Iran, the United States, Britain, France, Germany, Russia, China and the...

  • Tornier reports 1Q loss Tuesday, 5 May 2015 | 6:21 PM ET

    AMSTERDAM _ Tornier NV on Tuesday reported a loss of $5.1 million in its first quarter. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share. Tornier shares have fallen 3 percent since the beginning of the year.

  • LUXEMBOURG, May 5- In a clash of corporate titans over naming rights in a fast-changing industry, Microsoft and its Skype phone service came out on the losing side of an EU court battle on Tuesday with Rupert Murdoch's television business Sky. Judges at the General Court of the European Union in Luxembourg upheld a complaint that the British broadcaster lodged a...

  • Business events scheduled for Wednesday Tuesday, 5 May 2015 | 4:36 PM ET

    WASHINGTON— Labor Department releases first-quarter productivity data, 8:30 a.m. Eastern. Tesla Motors Inc. reports quarterly financial results after the market closes. Whole Foods Market Inc. reports quarterly financial results after the market closes.

  • *Wheat nears 5- year low after Egypt bypasses U.S. supplies. Poor export demand for U.S. supplies and strong yield projections from early results of a crop tour through Kansas also pressured the market. Egypt on Tuesday said it bought Russian and Romanian wheat in its latest deal that totaled 120,000 tonnes, again bypassing U.S. offerings.

  • The inquiry, which by its nature will inevitably focus heavily on U.S. firms, follows calls from France and Germany for regulation of so-called "essential digital platforms", encompassing everything from e-commerce sites such as eBay to social media companies. European Commission Vice-President Andrus Ansip will unveil his "Digital Single Market Strategy"...

  • *EU says won't discuss debt relief till Greece agrees reforms. *Greece says EU/IMF policy differences hamper talks. ATHENS/ BRUSSELS, May 5- Greece blew hot and cold with its euro zone partners on Tuesday as it struggled to avert a potentially catastrophic funding crunch this month, when it must make a big debt repayment to the IMF as cash reserves dry up.

  • FRANKFURT/ WALLDORF, May 5- SAP Chief Executive Bill McDermott said his company has "zero interest" in acquiring software rival Salesforce.com. "We have zero interest in Salesforce.com." SAP is battling alongside established U.S. software makers such as Oracle, IBM and Microsoft to boost Internet-based software sales and fend off pure cloud-based rivals...

  • RIYADH, Saudi Arabia— French President Francois Hollande vowed to defend Gulf Arab allies as he announced Tuesday that his country is in talks with Saudi Arabia for business deals worth tens of billions of euros. Hollande made the remarks after a ceremonial meeting in Saudi Arabia's capital, Riyadh, with the heads of state of the six energy-rich countries of the...

  • FRANKFURT/ WALLDORF, May 5- SAP Chief Executive Bill McDermott said his company has "zero interest" in acquiring software rival Salesforce.com, which is rumoured to be for sale. "We bought always assets that are best-in-class, which are assending in value," McDermott said in response to a journalist's question at a news conference at SAP's annual SAPPHIRE user...

  • BISSAU, May 5- Guinea Bissau is reviewing contracts signed by previous governments as the West African country seeks to ensure miners have sufficient means to kick-start its $2 billion economy, its prime minister told Reuters. Domingos Simoes Pereira, elected at polls a year ago that sealed a transition back to democracy after a 2012 coup, said the review was...

  • BRUSSELS, May 5- The European Commission has approved a joint venture between Mondelez International and D.E Master Blenders to create the world's biggest standalone coffee company on condition they sell some businesses first. The EU executive said on Tuesday that Mondelez of the United States must sell its Carte Noire business across the European...

  • *No policy change seen at June 5 OPEC meeting- delegates. *OPEC delegates cite higher prices, stronger oil demand. LONDON/ DUBAI, May 5- OPEC countries are set to maintain current production levels at a meeting next month, three delegates said, as Gulf states continue to focus on market share and a rally in crude prices mutes calls from other members for supply cuts.

  • *Saudi Arabia raises light crude prices for U.S., Europe. Oil was also supported by news that Saudi Arabia had raised its official selling prices for its Arab Light grade crude to the United States and Northwest Europe, pointing to strong demand in those regions. "Higher OSPs for Europe and the United States seem to point to healthy demand for Saudi oil," Carsten...

  • FRANKFURT, Germany— Swiss bank UBS Group AG says net profit almost doubled in the first quarter as money from rich clients flowed into its wealth management businesses. The company said Tuesday that its net profit rose to 1.977 billion Swiss francs in the January to March quarter from 1.054 billion francs in the same quarter a year ago. Wealth management, which...

  • LONDON, May 5- Oil prices jumped more than $1 a barrel on Tuesday, pushing North Sea Brent and U.S. light crude to 2015 highs, after protests stopped crude flows to the eastern Libyan oil port of Zueitina, hampering exports. "The protesters closed the pipeline to the port," said Mohamed El Harari, spokesman for state oil firm NOC, adding that several oilfields in eastern...

  • EU competition watchdog eyes McDonald's over taxes Tuesday, 5 May 2015 | 8:28 AM ET

    EU Competition Commissioner Margrethe Vestager told legislators Tuesday she is examining trade union allegations that McDonald's avoided paying more than one billion euros in corporate taxes in Europe between 2009 and 2013.. A coalition of European and U.S. unions claims that the company reduced its tax burden by moving its British headquarters to...

  • *Quarterly net profit 1.98 bln Sfr vs 1.1 bln Sfr in poll. ZURICH, May 5- Switzerland's UBS reported its biggest quarterly profit in nearly five years on Tuesday, justifying the bank's decision to refocus on wealth management and slim down its investment bank. Inflows of cash from rich customers in Asia and a surge in foreign exchange dealing after the Swiss...