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TOP STORIES
ECB's Draghi faces heat over euro, Monte Paschi
FRANKFURT - Mario Draghi faces a grilling over the European Central Bank's sensitivity to the euro's sharp rise and his connection to an Italian banking scandal at the central bank's monthly meeting when the ECB is almost certain to hold interest rates unchanged. (ECB-RATES/(UPDATE 3), expect by 1030 GMT/5.30 AM ET, by Paul Carrel, 660 words)
ECB close to Irish debt deal as Anglo liquidated
DUBLIN/FRANKFURT - The European Central Bank moves towards agreeing a deal to ease Ireland's debt burden after Dublin rushes through emergency legislation to liquidate the failed Anglo Irish Bank. (IRELAND-ECB/ (UPDATE 2), moved, by Padraic Halpin and Carmel Crimmins, 900 words)
Shares, euro pause ahead of ECB decision
London - The euro, German bonds and shares steady, as investors await the European Central Bank's policy meeting and President Mario Draghi's views on the region's growth prospects. (MARKETS-GLOBAL/ (WRAPUP 5), expect by 1030 GMT/5.30 AM ET, by Richard Hubbard, 500 words)
Credit Suisse upbeat despite disappointing trading
ZURICH - Credit Suisse says 2013 had started well as it announces extra cost cuts after missing fourth-quarter profit forecasts because of weak results at its investment bank. (CREDITSUISSE-RESULTS/ (UPDATE 3), expect by 1000 GMT/5 AM ET, by Katharina Bart, 700 words)
+ See also:
- AUSTRALIA-NAB/(UPDATE 1), moved, 400 words
INSIGHT
Japan PM's push for radical BOJ head meets resistance
TOKYO - The Japanese prime minister's push for a governor who will lead a radical policy shake up at the Bank of Japan is meeting resistance from his own cabinet and financial bureaucrats, who fear extreme measures from the central bank may trigger a damaging rise in bond yields. (JAPAN-ECONOMY/BOJ (INSIGHT, PICTURE), moved, by Leika Kihara, 1, 400 words)
+ See also:
- JAPAN-ECONOMY/BOJ (UPDATE 1), moved, by Leika Kihara, 570 words
ECONOMY
Spain sells 4.6 bln euros in triple bond sale, beats target
MADRID - Spain's Treasury issued 4.6 billion euros ($6.2 billion) of debt on Thursday in a triple bond sale, above the top end of the target range, with yields higher on the shorter-dated paper from previous auctions a month earlier. (SPAIN-DEBT/ (UPDATE 1), expect by 1000 GMT/5 AM ET, by Paul Day, 500 words)
Carney takes centre stage ahead of Bank of England job
LONDON - Britain's next central bank chief, Mark Carney, gets his first chance to show how he plans to fix the country's stagnant economy when he speaks to lawmakers. (BRITAIN-ECONOMY/CARNEY (UPDATE 1), expect by 1030 GMT/5.30 AM ET, by William Schomberg and David Milliken, 600 words)
+ See also:
- BRITAIN-ECONOMY/OUTPUT , moved, 300 words
Even in a crisis, EU leaders shun budget reform
BRUSSELS - European Union leaders meet to agree a long-term budget that bears little evidence of reform, despite calls to refocus spending on growth following the worst financial crisis in decades. (EU-BUDGET/, expect by 1100 GMT/6 AM ET, by Charlie Dunmore, 600 words)
India sees worse than expected economic slowdown in 2012/13
NEW DELHI - India's slowest growth in a decade could be worse than anticipated, as preliminary data released shows the economy set to have grown 5.0 percent in fiscal year ending next month, underscoring the urgent need for reforms to boost growth. (INDIA-ECONOMY/GDP (UPDATE 2), moved, by Rajesh Kumar Singh, 400 words)
Bond frenzy stokes concerns over Chinese property
HONG KONG - Chinese property companies are rushing to the dollar bond market, almost matching last year's sales in the first month of 2013 alone, in a frenzy that could inflate the sector's gearing and the broader risk of a housing price bubble. (CHINA-PROPERTY/BONDS, moved, by Umesh Desai and Xiaoyi Shao, 800 words)
SE Asia central banks seek overhaul of FX forward rates
SINGAPORE/JAKARTA - Southeast Asian central banks are in talks to overhaul the way reference rates for offshore currency derivatives are set following investigations by banks in Singapore that found traders in the city-state tried to manipulate the market, the president of Indonesia's foreign exchange industry group says. (ASIA-NDFS/ (PICTURE, UPDATE 1), moved, by Rachel Armstrong and Adriana Nina Kusuma, 1,100 words)
COMPANIES
Alcatel CEO to leave after company swings to 2012 loss
PARIS - Alcatel-Lucent announces the departure of its chief executive after the telecom equipment maker swings to a full-year net loss of 1.37 billion euros, hit by lower sales in Europe and China, and an impairment charge. (ALCATEL-RESULTS/ (UPDATE 3), moving shortly, by Leila Abboud, 600 words)
Weak trading across Europe hits Vodafone
LONDON - Trading at Vodafone worsens in the third quarter as fierce competition in northern Europe compounds the weak economies of Spain and Italy to push organic service revenue down 2.6 percent. (VODAFONE/(UPDATE 2), expect by 1100 GMT/6 AM ET, 500 words)
ICAP sees no wash trades in internal Libor probe
LONDON - ICAP says it has found no sign of the telltale 'wash' trades used by banks to reward brokers for their help rigging Libor in the latest move by the broker to distance itself from the rate-fixing scandal. (ICAP (UPDATE 3), expect shortly, by Luke Jeffs, 500 words)
Sanofi sees return to growth in H2 as patent hit eases
PARIS - Sanofi says drug patent expirations would still weigh on its earnings in the first half of 2013, disappointing expectations of a faster return to growth. (SANOFI-RESULTS/ (UPDATE 2), moving shortly, by Elena Berton, 600 words)
Drugmakers, academics pool R&D in $265 mln EU project
LONDON - Seven European drugmakers are to pool their research efforts with academic scientists and smaller companies in a new 196 million euros ($265 million) project designed to find tomorrow's medicines. (PHARMACEUTICALS-EUROPE/R&D, moved, by Ben Hirschler, 430 words)
Daimler sees flat 2013 earnings due to weak Q1
STUTTGART, Germany - Germany's Daimler expects 2013 earnings will remain flat as soft markets and ageing car models weigh on earnings in the first quarter. (DAIMLER-RESULTS/ (UPDATE 2), expect by 1000 GMT/4 AM ET, by Christiaan Hetzner, 600 words)
Statoil sees record high spending for years to come
LONDON - Norway's Statoil will keep capital spending record high for years to come as it brings a string of new discoveries onstream and hopes to nearly double its international production by the end of the decade, it says. (STATOIL-RESULTS/ (UPDATE 2), moved, by Balazs Koranyi, 545 words)
Weaker yen helps keep Sony on course for profit target
TOKYO - Sony Corp sticks with its full-year profit forecast as a weaker yen and asset sales underpin earnings, offsetting weaker demand for its televisions, game consoles and other devices. (SONY-EARNINGS/ (UPDATE 1), moved, 400 words)