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TOP STORIES
ECB holds rates, Draghi enters the lion's den
FRANKFURT - Banks' early repayment of a chunk of three-year crisis loans they took from the European Central Bank reflects improved financial market confidence, but the bank will continue to ensure ample liquidity, ECB chief Mario Draghi says. (ECB-RATES/(UPDATE 4), expect by 1430 GMT/9.30 AM ET, by Paul Carrel, 660 words)
+ See also:
- BRITAIN-BOE/DECISION (UPDATE 1), moved, by Olesya Dmitracova, 360 words
ECB, Ireland reach bank debt deal -source
DUBLIN/FRANKFURT - The European Central Bank agree a deal to ease Ireland's debt burden in a major boost to Dublin's hopes of emerging from an international bailout programme, a source involved in the talks tells Reuters. (IRELAND-ECB/ (UPDATE 4), moving shortly, by Padraic Halpin and Carmel Crimmins, 1,200 words)
Shares, euro firmer ahead of ECB meeting
LONDON - The euro and shares advance, as investors await European Central Bank President Mario Draghi's views on the region's growth outlook and the impact of the single currency's current strength. (MARKETS-GLOBAL/ (WRAPUP 6, GRAPHIC), moved, by Richard Hubbard, 890 words)
EU leaders seen shunning growth for subsidies in budget deal
BRUSSELS - European Union leaders begin two days of talks on a long-term budget, with efforts to refocus spending on growth likely to be thwarted by demands for farm subsidies as pressure to reach a deal grows. (EU-BUDGET/ (PICTURE, TV, GRAPHIC), moved, by Charlie Dunmore, 600 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
Political scandal, economy cost Spain at bond auction
MADRID - Spain's funding costs climb at a bond auction after a corruption scandal amongst its political elite and concerns over its weak economy tempers investor enthusiasm for its debt. (SPAIN-DEBT/ (UPDATE 3), moved, by Paul Day, 600 words)
Carney sets high bar to changes at Bank of England
LONDON - Mark Carney, the next governor of the Bank of England, says any rethink of how British monetary policy is run should be made carefully but changes should be looked at over time. (BRITAIN-ECONOMY/CARNEY (UPDATE 2), moved, by William Schomberg and David Milliken, 780 words)
+ See also:
- BRITAIN-ECONOMY/ (UPDATE 1) , moved, 300 words
U.S. jobless claims fall, trend reading at near 5-year low
WASHINGTON - The number of Americans filing new claims for jobless benefits fell last week and a trend reading hit a near five-year low, pointing to ongoing healing in the labour market.(USA-ECONOMY/ (WRAPUP 1), moving shortly, by Jason Lange, 450 words)
+ See also:
- USA-RETAIL/SALES, moving shortly, by Phil Whaba, 430 words
Manufacturing pushes German industry output up slightly
BERLIN - Stronger manufacturing helps German industrial output to improve slightly in December, boding well for expectations that Europe's largest economy may be rebounding from a weak quarter. (GERMANY-OUTPUT/ (UPDATE 1), moved, 500 words)
Brazil inflation speeds to fastest monthly rate since 2005
NEW YORK - SAO PAULO - Brazil's inflation rate rose slightly more than expected in January to the highest monthly reading in nearly eight years, spurred by a faster advance of food and beverage prices. (BRAZIL-ECONOMY/INFLATION (UPDATE 2), moved, by Silvio Cascione, 450 words)
World food prices stable, low stocks pose risk of spikes-UN
ROME - World food prices stabilised in January after falling in the previous three months, the United Nations food agency says, but it warns that adverse crop weather could cause violent price spikes due to tight grains stocks. (FOOD-FAO/ (UPDATE 2), moved, by Catherine Hornby, 570 words)
COMPANIES
Credit Suisse sees overhaul bearing fruit this year
ZURICH - Credit Suisse says it expects steps taken to overhaul its business will bear fruit this year, after fourth-quarter profit misses forecasts because of weak results at its investment bank. (CREDITSUISSE-RESULTS/(UPDATE 4, PICTURE), moved, by Katharina Bart, 650 words)
+ See also:
- AUSTRALIA-NAB/(UPDATE 1), moved, 400 words
Monte Paschi says no more derivatives losses
SIENA, Italy - Italy's Monte dei Paschi says there are no more derivatives losses beyond the 730 million euros ($988 million) it has disclosed, which have rattled financial markets and become a campaign issue ahead of parliamentary elections. (MONTE PASCHI/ (UPDATE 1), moved, by Silvia Aloisi and Stefano Bernabei, 700 words)
+ See also:
- ITALY-MONTEPASCHI/LOAN, moved, 370 words
Sprint revenue rises but subscriber numbers disappoint
NEW YORK - Sprint Nextel Corp, which is seeking to sell 70 percent of its shares to Japan's SoftBank Corp, posts higher fourth-quarter revenue but shares fell in early trade as investors were disappointed with soft subscriber numbers. (SPRINT-EARNINGS/ (UPDATE 3), expect by 1500 GMT/10 AM ET, Sinead Carew, 500 words)
Alcatel CEO to quit after 1.4 bln euro loss
PARIS - Telecom equipment maker Alcatel-Lucent says its chief executive is leaving after it swings to a net loss of 1.37 billion euros ($1.85 billion) for 2012, hit by lower sales in Europe and China and a writedown of its wireless and optics businesses. (ALCATEL-RESULTS/ (UPDATE 3), moved, by Leila Abboud, 600 words)
European firms face fresh wave of profit downgrades
LONDON - A fresh wave of cuts to European company profit forecasts is on its way but will leave firms well placed to outperform later in the year -- potentially boosting stock market returns. (MARKETS-EARNINGS/, moved, by Atul Prakash, 740 words)
+ See also:
- MARKETS-EUROPE-STOCK/PULLBACK, expect shortly, by Frabcesco Canepa, 800 words
Cigna's HealthSpring acquisition helps profit rise
NEW YORK - Health insurer Cigna Corp reports a higher-than-expected fourth-quarter profit, helped by the acquisition of Medicare provider HealthSpring, and raises its outlook for 2013.(CIGNA RESULTS/ (UPDATE 3), expect by 1600 GMT/11 AM ET, by Caroline Humer, 450 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), moved, by Kate Holton, 500 words)
Struggling in China, Daimler sees flat 2013 profit
STUTTGART, Germany - German automaker Daimler says it expects flat earnings this year as a persistently weak market and an ageing model line-up sap demand for its luxury cars and trucks until the second half. (DAIMLER-RESULTS/ (UPDATE 2), moved, by Christiaan Hetzner, 600 words)
Broker ICAP finds no sign of "wash trades" linked to Libor
LONDON - Brokerage ICAP says it has found no signs of telltale "wash trades" used by banks to reward brokers for their help rigging interest rates, in the firm's latest move to distance itself from the Libor scandal. (ICAP/(UPDATE 3), moved, by Luke Jeffs, 550 words)
Patent expiries delay Sanofi's return to growth
PARIS - French drugmaker Sanofi says earnings could fall this year as it continues to feel the effects of expiring patents, disappointing hopes of a return to growth. (SANOFI-RESULTS/(UPDATE 2), moved, 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)
Statoil hikes investment in bet oil price stays high
LONDON - Norway's Statoil will ramp up capital spending, even at the cost of a cash flow bottleneck, betting that strong gas demand and high oil prices will fund plans to lift output by a quarter this decade. (STATOIL-RESULTS/ (UPDATE 3), moving shortly, by Balazs Koranyi, 780 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)