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  • PARIS, May 26- French investigators have opened a probe after an Air France jet with some three dozen people on board narrowly avoided hitting the highest mountain in central Africa in early May, according to information published by France's BEA air accident agency. The Boeing 777 jet was making a short evening trip from Malabo, the capital of Equatorial Guinea,...

  • AMSTERDAM, May 26- In handing out lucrative public procurement contracts, Qatar is likely to favor countries whose airports grant take-off and landing slots to state-owned Qatar Airways, its chief executive said on Tuesday. While he later stressed that he had no direct influence over public procurement decisions, he said Qatar offered rich pickings for...

  • Sterling near 2-1/2 month high against struggling euro Tuesday, 26 May 2015 | 10:15 AM ET

    LONDON, May 26- Sterling rose to a 2-1/ 2 month high against a struggling euro on Tuesday, with the single currency weighed down by Greece's debt problems and interest rate differentials moving in favour of the British pound. It was last trading at 70.87 pence, down 0.1 percent on the day, having been hit in recent days by a senior European Central Bank official who...

  • LONDON, May 26- Britain's top banks will be tested this year for their ability to cope with the type of market mayhem that followed the collapse of U.S. bank Lehman Brothers in 2008, the Bank of England said on Tuesday. Bank of England Deputy Governor Andrew Bailey, who also heads the central bank's Prudential Regulatory Authority, spoke last week of the need to look...

  • *Former trader Hayes goes on trial in London. LONDON, May 26- Tom Hayes, a former trader on trial for allegedly conspiring to rig benchmark interest rates, has admitted to being motivated by greed and was fired by U.S. bank Citigroup in 2010, the prosecution told a London court on Tuesday. Hayes is the first person to be prosecuted over manipulation of the London...

  • *Shoppers spend longer on Zalando, ASOS than most brand sites. BERLIN, May 26- U.S. label Gap Inc's launch on Zalando, Europe's top online fashion retailer, this month has exceeded expectations and Gap children's clothes are already one of the top-selling kids' brands on the site, the German company said. For Gap, using Zalando is a way to expand sales in continental...

  • Europe shares mixed; BMPS tanks; Ryanair soars Tuesday, 26 May 2015 | 9:37 AM ET
    Greece's Finance Minister Yanis Varoufakis

    Europe markets were mixed with investors reacting to corporate earnings and concerns that Greece is finally about to default on its loan repayments.

  • LONDON, May 24- For Rivka Micklewaite and fellow students, securing a pledge this week from Oxford University to avoid direct investments in companies producing coal or tar sands is just the beginning. The second-year engineering student from Balliol College is not alone. Norway's $900 billion sovereign wealth fund and the Church of England are among recent...

  • Greece might sidestep June 5 IMF payment deadline Tuesday, 26 May 2015 | 9:18 AM ET

    BRUSSELS, May 26- Cash-strapped Greece could avoid paying back the IMF on June 5 and win more time to negotiate a funding deal without defaulting if it lumps together all IMF repayments due in June and pays them at the end of the month, officials said on Tuesday. Greece has to repay the International Monetary Fund 300 million euros on June 5, the first of four...

  • PARIS, May 26- French investigators have opened a probe after an Air France jet with some three dozen people on board narrowly avoided hitting the highest mountain in central Africa in early May, according to information published by France's BEA air accident agency. The Boeing 777 jet was making a short trip from Malabo, the capital of Equatorial Guinea, to...

  • Ford expands presence in Morocco Tuesday, 26 May 2015 | 9:15 AM ET

    "Ford sees Morocco has a country that has skilled labor and extremely good infrastructure," said Ford Middle East and North Africa director Kalyana Sivaganam. In addition to car parts, Morocco makes more than 200,000 automobiles a year, mainly from a Renault plant in Tangiers built in 2013.. Most cars are exported and made up more than 20 percent of all exports in...

  • StealthGas misses 1Q profit forecasts Tuesday, 26 May 2015 | 9:15 AM ET

    ATHENS, Greece _ StealthGas Inc. on Tuesday reported first-quarter net income of $5.8 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share. StealthGas shares have risen 4 percent since the beginning of the year.

  • Italian court bans unlicensed taxi services like Uber Tuesday, 26 May 2015 | 9:14 AM ET

    MILAN, May 26- An Italian court on Tuesday banned unlicensed car-sharing services such as those offered by Uber, in another setback for the fast-growing U.S. car service whose smartphone app summons rides at the touch of a button. The court in Italy's business capital Milan said the Uber POP service, which links private drivers with passengers through an...

  • DUBAI, May 26- Egypt has chosen banks to handle its return to the international bond market after a gap of five years, underlining a return of economic and political stability in the country after its Arab Spring uprising of 2011.. BNP Paribas, Citigroup, JP Morgan, Morgan Stanley and Natixis will arrange the investor meeetings for Egypt, which is rated B3/B-/B by...

  • EU COULD ACCEPT 1.0-1.5 PCT/ GDP GREEK PRIMARY SURPLUS, BUT ATHENS WOULD NEED TO TAKE MORE FISCAL STEPS TO REACH IT- OFFICIAL.

  • LONDON, May 26- Britain's top banks will be tested this year for their ability to cope with the type of market mayhem that followed the collapse of U.S. bank Lehman Brothers in 2008, the Bank of England said on Tuesday. Bank of England Deputy Governor Andrew Bailey, who also heads the central bank's Prudential Regulatory Authority, spoke last week of the need to look...

  • Varoufakis battles 'divorce lawyer' austerity talks Tuesday, 26 May 2015 | 8:33 AM ET
    Greek Finance Minister Yanis Varoufakis (L) talks with Dutch Finance Minister and president of Eurogroup Jeroen Dijsselbloem before an Eurogroup Council

    Greece's finance minister, Yanis Varoufakis, has blamed the euro zone's insistence on greater austerity measures as the real reason why talks with lenders are stalling.

  • Greece mulls levy on undeclared deposits to raise cash Tuesday, 26 May 2015 | 8:33 AM ET

    ATHENS, Greece— Greece is considering a 15 percent levy on undeclared foreign deposits, and double that rate on undeclared deposits in domestic banks, as an enticement for tax-dodgers to legalize assets. Finance Minister Yanis Varoufakis says he is also thinking of imposing a charge on cash withdrawals from bank ATMs and on over-the-counter transactions, to...

  • LONDON— A British prosecutor says a former Citibank and UBS trader motivated by greed served as the ringmaster of the alleged manipulation of a key interest rate, the London Interbank Lending Rate, or Libor. The charges against trader Tom Hayes, who specialized in products pegged to yen-denominated Libor, relate to the period from August 2006 to September 2010.

  • GRAINS-U.S. wheat eases as dollar curbs weather rally Tuesday, 26 May 2015 | 8:27 AM ET

    *Wheat market eyes USDA crop report for signs of rain damage. SINGAPORE/ PARIS, May 26- Chicago wheat futures edged lower on Tuesday as traders awaited a government crop update to assess any damage from heavy rain, while a rising dollar put pressure on U.S. commodities. Soybeans ticked up, steadying from their lowest in nearly eight months during the previous...