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TOP STORIES
Draghi dismisses talk of currency war, but watching euro
BRUSSELS - European Central Bank President Mario Draghi sought to take the heat out of a debate about currency wars but says the ECB would still have to assess the economic impact of the euro's strength. (ECB/DRAGHI-CURRENCIES (UPDATE 2), movedET, by Robin Emmott, 620 words)
+ See also:
- EUROPE-ECB/NOWOTNY (UPDATE 1, PICTURE), moved, 530 words
Yen resumes fall after G20, U.S. holiday thins trade
LONDON - The yen resumes falling after Japan signals it would push ahead with expansionist monetary policies having escaped criticism from the world's 20 biggest economies at the weekend.(MARKETS-GLOBAL/ (WRAPUP 7), moved, by Richard Hubbard, 1,220 words)
See also"
- MARKETS-EUROPE-STOCKS/ (UPDATE 3), moved, 535 words
- MARKETS-FOREX/ (UPDATE 5), moved, 670 words
- MARKETS-OIL/ (UPDATE 5), moved, 470 words
Japan PM to nominate BOJ head "soon", Muto seen in lead
TOKYO - Former top financial bureaucrat Toshiro Muto is the leading candidate to become Japan's next central bank governor, suggesting Prime Minister Shinzo Abe's hopes for a more radical policymaker are fading. Abe will pick a nominee as early as this week, sources close to the process tell Reuters. (JAPAN-ECONOMY/ (WRAPUP 1), moved, by Leika Kihara and Yoshifumi Takemoto, 850 words)
EU-U.S. trade talks promise both prizes and pitfalls
LONDON - Forthcoming transatlantic trade talks might offer a fresh incentive for Europe to worry a bit less about protecting past economic gains and focus a bit more on securing sources of future prosperity. (EUROPE-USA/TRADE (ANALYSIS), moved, by Alan Wheatley, Global Economics Correspondent, 990 words)
Venezuela's cancer-stricken Chavez back home from Cuba
CARACAS - Venezuelan President Hugo Chavez makes surprise return from Cuba, more than two months after surgery for cancer that has jeopardized his 14-year rule of the South American OPEC nation. (VENEZUELA-CHAVEZ/ (UPDATE 7, PICTURE, TV), moved, by Andrew Cawthorne and Daniel Wallis, 900 words)
+ See also:
- VENEZUELA-CHAVEZ/SCENE (PICTURE, TV), moved, by Girish Gupta, 500 words
- VENEZUELA-CHAVEZ/ (FACTBOX), moved, 600 words
INSIGHT
In Europe's tax race to the bottom it's the base that counts
LONDON - A country's tax base - what profit it will tax and what it will leave - is more important than its headline tax rate. (TAX-CONTEST/EUROPE (PICTURE), moved, by Tom Bergin, 1,600 words)
ECONOMY
Core Eurozone banks relying less on crisis funding
FRANKFURT - German banks' use of European Central Bank crisis funding dropped by a third in January from the previous month, a further sign that banks in the heart of the euro zone are returning to money markets after last year's credit squeeze. (ECB/LTRO-BANKS (UPDATE 1), moved, by Sakari Suoninen, 700 words)
Bundesbank sees some growth in Q1, then picking up pace
FRANKFURT - The German economy should grow in the first quarter and pick up pace later this year, but increased optimism on financial markets should not conceal the need for reforms elsewhere in the euro zone, the Bundesbank says. (ECB/BUNDESBANK-GERMANY, moved, 400 words)
Consumers buoy Mexico growth pickup, industry weighs MEXICO CITY - Mexico's growth picks up in the fourth quarter as strength in consumer spending buoys Latin America's no. 2 economy but a fall in industrial activity backed bets on lower interest rates ahead. (MEXICO-ECONOMY (UPDATE 2), moved, by Alexandra Alper, 500 words)
Ecuador's Correa enjoys re-election, seeks investment
QUITO - Ecuadorean President Rafael Correa revels in a sweeping re-election victory that allows him to deepen his socialist revolution even as he seeks to woo foreign investment in the resource-wealthy Andean nation. (ECUADOR-ELECTION/ (UPDATE 1), moved, pix, tv, by Eduardo Garcia and Brian Ellsworth, 990 words)
Scandals seen boosting Italy's anti-establishment party before vote
Comic Beppe Grillo's anti-establishment 5-Star Movement appears to be stealing momentum from Silvio Berlusconi after a string of scandals that have hit the main political parties just before Italy's election. (ITALY-VOTE/), moved, pix, tx, by Steve Scherer, 685 words)
See also:
- ITALY-VOTE/MOOD, moved, pix, tv, by Barry Moody, 1,115 words
UK accountants on tenterhooks before probe outcome
LONDON - The "Big Four" accounting firms should find out this week how their grip on Britain's audit market could be loosened in a ruling Europe and the United States will scrutinise. (BRITAIN-ACCOUNTING/, moved, by Huw Jones, 600 words)
Bulgaria sacks finmin after protests as elections loom
SOFIA - Bulgaria's government sacks Finance Minister Simeon Djankov, a day after nationwide protests over electricity prices, dumping the man who has kept a tight rein on spending as the European Union's poorest member gears up for elections. (BULGARIA-GOVERNMENT/ (UPDATE 2, PICTURE), moved, by Tsvetelia Tsolova and Angel Krasimirov, 600 words)
British PM on India trade trip as graft scandal erupts
MUMBAI - British Prime Minister David Cameron flies into India promising to try to revive Indian interest in the Eurofighter even though New Delhi has chosen a French-made rival and as a graft scandal is engulfing an Anglo-Italian helicopter deal. (BRITAIN-INDIA/(UPDATE 2), moved, Andrew Osborn, 940 words)
Cypriot candidates woo king-maker for election run-off
NICOSIA - The Cypriot politician most in favour of an international bailout was in pole position to win next Sunday's run-off presidential vote as he and his communist-backed rival launched a week of bargaining to woo voters suspicious of a rescue package to stave off bankruptcy. (CYPRUS/ (UPDATE 2, PICTURE, TV), moved, by Michele Kambas, 620 words)
COMPANIES
Carlsberg hit by rocky Russian market and rising costs
COPENHAGEN - Danish brewer Carlsberg has scrapped its profit margin target for eastern Europe, blaming a rocky Russian market and rising costs, and damping hopes its expansion in the region can offset sluggish demand in western Europe. (CARLSBERG/ (UPDATE 3), moved, by Mette Fraende, 700 words)
TNT Express plans disposals after further losses
AMSTERDAM - TNT Express, whose $7 billion takeover by United Parcel Service was blocked last month, reports a further loss, saying it will sell units in Brazil and China and cut costs as it prepares for a future alone. (TNTEXPRESS-EARNINGS/ (UPDATE 3), moved, by Sara Webb, 900 words)
Vodafone's German foray could be first of many
PARIS - Vodafone's interest in bidding for Germany's biggest cable company Kabel Deutschland could portend more fixed network acquisitions ahead, notably in Spain, as the world's second-largest mobile operator tries to keep up with tightening competition in Europe. (VODAFONE-ACQUISITIONS/(DEALTALK), moved, pix, , PIX) by Leila Abboud and Paul Sandle, 1,095 words)
Bolivia nationalizes Spanish-owned airports operator
LA PAZ - Bolivian President Evo Morales, who has tightened state control over the nation's small economy since taking office in 2006, nationalizes an airports operator owned by Spanish infrastructure company Abertis. (BOLIVIA-ABERTIS/ (UPDATE 4)moved, tv, by Carlos Quiroga, 500 words)
Workers and police clash at airport during Iberia strike
Striking union workers clash with police at Madrid's Barajas airport on the first day of a week-long strike over more than 3,800 pending job cuts at Spain's flagship airline Iberia. (IBERIA-STRIKE/(UPDATE 3), moved, by Catherine MacDonald AND Sarah Morris, 680 words)