BERLIN, July 5- German Chancellor Angela Merkel agreed in a phone call with French President Francois Hollande on Sunday night that a euro zone leaders' summit should be held on Tuesday after Greeks rejected bailout terms in a referendum, a German government spokesman said. The chancellor and president also agreed that the referendum result should be...» Read More
SINGAPORE, Oct 25- Brent futures rose above $108 on Thursday as positive economic data out of the world's top oil consumer, the United States, revived hopes of a recovery in demand growth, although a worsening outlook for Europe capped gains.
Please be advised that a story saying UBS AG has suspended at least one trader in Singapore for possible manipulation of interbank lending rates is wrong and is withdrawn. The trader, Prakant Sood, said that he is still employed by the bank and has never been involved in U.S. dollar Libor trading, or trading for any other interbank lending at UBS.
OTTAWA, Oct 25- The Bank of Canada will take care not to raise interest rates too rapidly when the time comes because of risks to the economy from challenges in the United States and Europe, Governor Mark Carney said in an interview released on Thursday.
Please be advised that a story saying UBS AG has suspended two traders in Singapore for possible manipulation of interbank lending rates is wrong and has been withdrawn. One of the traders named, Jeffrey Tay, said he had not been suspended but had resigned. STORYtNUMBER: L3E8LG35A STORYtDATE: 24/10/2012 STORYtTIME: 1240 GMT.
GENEVA-- Swiss pharmaceutical giant Novartis AG posted flat third quarter profits as new drugs offset patent expirations.
LONDON-- WPP PLC, the world's largest advertising group, has lowered its full-year outlook after not doing as well as expected from the Olympics, the U.S. presidential campaign and the European soccer championships.
GENEVA-- Credit Suisse Group said Thursday it would boost its cost-cutting program as it posted a 63 percent fall in third-quarter profit following an accounting charge on its debt. Shares in Credit Suisse rose 2.3 percent to 21.82 francs in early trading on the Zurich exchange.
PARIS-- Sanofi says earnings slumped in the third quarter as generic competitors ate into profits of its Eloxatin cancer treatment. Sanofi said it lost 448 million in sales from generic competition in the quarter. Overall sales rose 3.3 percent to 9 billion in the quarter, thanks in part to growth of Sanofi's Lantus diabetes treatment in the U.S.
LONDON-- Anglo-Swedish pharmaceutical company AstraZeneca has reported a 56 percent drop in net income in the third quarter as it suffered from the loss of exclusivity on a big-selling drug. For the three months ending Sept. 30, AstraZeneca said Thursday that net profit fell to $1.5 billion compared to $3.5 billion a year earlier.
FRANKFURT, Germany-- BASF SE saw third-quarter profits fall 21 percent as its chemicals business suffered from lower demand, as well as from troubles at a key Texas facility. However, stronger oil sales helped soften the blow, now that the company's facilities in Libya are working again after being shut down last year during the civil war.
MOSCOW-- Ratings agency Standard and Poor's has indicated it may upgrade its rating on Rosneft following the Russian oil company's agreement to buy a joint venture between BP and a group of Russian billionaires. Rosneft on Monday agreed to buy TNK-BP, Russia's third-largest oil producer.
AMSTERDAM-- Consumer goods maker Unilever PLC says strong growth in developing markets helped its sales rise a better-than-expected 10.3 percent to 13.4 billion in the third quarter, despite falling prices in Europe.
Judge Jed Rakoff described the sentence and $5 million fine given to former Goldman Sachs and Procter& Gamble Co. board member Rajat Gupta, 63, on Wednesday as sufficient to deter others and properly punish the Westport, Conn., resident.
*Vale sidelines $5 bln Simandou iron project in Guinea. RIO DE JANEIRO, Oct 24- Brazil's Vale SA, the world's No. 2 mining company, said on Wednesday that third-quarter profit fell 66 percent compared with a year earlier, prompting the company to delay major mining projects and consider the sale of assets.
*Pension fund says San Bernardino has no plan. Oct 24- America's biggest public pension system filed a formal objection on Wednesday to a quest by San Bernardino to seek bankruptcy protection, citing the ``disarray'' in the Californian city's finances. San Bernardino, a city of 210,000 people 60 miles east of Los Angeles, declared bankruptcy on Aug. 1.
PARIS-- French beverage company Pernod Ricard says sales for the most recent quarter grew 11 percent, driven by slowing but still strong demand in emerging markets. Sales in its home market of France continued to decline and Europe was flat, but Asia and the Americas picked up the slack.
FRANKFURT, Germany-- Chemicals and oil company BASF SE says profits fell 21 percent in the third quarter as its chemicals business suffered from lower demand and troubles at a key Texas facility. Stronger oil sales helped soften the blow now that now that the company's facilities in Libya are working again after being shut down by fighting last year.
NEW YORK, Oct 24- Chile is trying to weaken its currency to close a recent spate of monthly trade deficits but accommodative monetary policies in the developed world have made the mission difficult, Chilean Finance Minister Felipe Larrain said on Wednesday.
WASHINGTON, Oct 24- Africa could avoid food shortages if it reduces the tangled web of rules, fees and high costs strangling regional food trade and by putting large swathes of uncultivated land to productive use, a World Bank report said on Wednesday.