MUMBAI, India— India's largest online e-commerce company, Flipkart, says it has raised $1 billion in new capital as the company gears up for competition with Amazon's push into the Indian market. Flipkart is sometimes called the Amazon of India. Amazon's India division has been making a big push in the country's small but fast-growing online retail market.» Read More
*Mercedes to shrink sales gap to Audi- IHS. INGOLSTADT, Germany, March 11- German luxury carmaker Audi, source of nearly half of Volkswagen's profits, expects another drop in operating earnings this year as it invests in new models and foreign expansion in a bid to catch up with sales at luxury rival BMW.
*Slowing investment, capital outflows will hurt Russia. LONDON/ MOSCOW March 11- To understand Western unease about the idea of imposing wide-ranging sanctions on Moscow over its intervention in Ukraine, consider an ongoing deal by one of the Kremlin's corporate giants.
ATHENS, March 11- Greece's economy has shrunk by almost 24 percent over the past six years in the deepest and most protracted peacetime recession in its history, according to revised gross domestic product data released on Tuesday.
*Analysts see damage to Brazil coffee due to drought. LONDON, March 11- Arabica coffee futures rose over 2 percent on Tuesday to hit a two-year high and sugar hovered near a four-month peak on concerns over a drought in top grower Brazil.
*Says expects 1st- quarter earnings/share $0.00 vs est $0.13. March 11- Teen apparel retailer American Eagle Outfitters Inc forecast earnings for the current quarter that fell short of analysts' expectations, saying a severe winter had hurt demand.
*J.C. Penney jumps after Citi upgrade. *Myriad Genetics falls after court motion denied. NEW YORK, March 11- U.S. stocks were set for a flat open on Tuesday after a slight decline in the prior session left the S&P 500 within striking distance of its recent record high and amid investor caution as tensions in Ukraine continued.
March 11- Myriad Genetics Inc said a U.S. court denied its motion to temporarily stop rival Ambry Genetics Corp from selling products similar to Myriad's gene-based cancer test, the latest setback for the diagnostics company.
*China bonded copper premiums slide $15 to $120- $140- Shmet. LONDON, March 11- London copper rose on Tuesday as buyers took advantage of prices that hit their lowest level in eight months on Monday, but rising inventories in China and little sign of a pick-up in physical demand kept industrial metals under pressure.
NEW DELHI, March 11- India has to cut its Iranian oil imports by nearly two-thirds from the first quarter after the United States asked it to hold the shipments at end-2013 levels, in keeping with the nuclear deal easing sanctions on Tehran, Indian government sources said.
*USDA report, China trade data trigger soy setback. LONDON, March 11- Soybean prices fell on Tuesday, extending the prior session's steep setback on smaller-than-expected reductions in U.S. Department of Agriculture estimates of domestic stocks and South American production.
LONDON, March 11- The Royal Bank of Scotland might have to move its headquarters to England if Scotland votes for independence this year and joins the European Union, Bank of England Governor Mark Carney said on Tuesday. Carney said an independent Scotland would need to guarantee deposits held in England by Scottish-domiciled banks under EU law.
LONDON, March 11- Leading U.S. futures market operator CME has received regulatory approval from Britain's financial watchdog to launch a London- based derivatives exchange, the group said on Tuesday.
LONDON, March 11- Russia's Gazprom said on Tuesday it would press ahead with laying its massive South Stream natural gas pipeline which aims to pump gas to central and southern Europe later this decade and avoid passing through Ukraine.
Broader market sentiment, however, was still undermined by a crisis in Ukraine, where confrontation between Kiev and Moscow showed no sign of easing. The Dax had fallen 2.9 percent in the previous two sessions, dragged down by worries about Ukraine and by disappointing Chinese trade data.
March 11- Canadian Pacific Railway, the country's second-largest railroad, said it would buy back up to 5.3 million shares, or about 3 percent of its total outstanding shares, over the next year. Canadian Pacific shares closed at C $171.30 on Monday on Toronto Stock Exchange, valuing the buyback program at about C $903 million.
March 11- Teen apparel retailer American Eagle Outfitters Inc forecast earnings for the current quarter that fell short of analysts' expectations, saying a severe winter had hurt demand. The company's shares fell 6 percent to $13.35 in premarket trading. Analysts on average were expecting a profit of 13 cents per share, according to Thomson Reuters I/B/E/S.
VIENNA, March 11- Austria and America Movil are still in talks on pooling their stakes in Telekom Austria but have not moved to formal negotiations, the state holding company said.
*J.C. Penny jumps after Citi upgrade. *Myriad Genetics falls after court motion denied. NEW YORK, March 11- U.S. stock index futures were little changed on Tuesday after a slight decline in the prior session left the S&P 500 within striking distance of its recent record high and as tensions in Ukraine tempered investor appetite for risk-taking.
LONDON, March 11- The recent history of copper and iron ore has been all about China. These price swoons have been triggered by the same fears about the China growth story. Both copper and iron ore markets are reacting to a bearish one-two combination of news out of China.
*India declines to remove cap on FII investment in govt debt. NEW DELHI, March 11- India has put on ice plans to join major emerging market bond indexes that would require removal of restrictions on capital inflows, two sources said, taking a decision that knocked the rupee, but showed balance of payments concerns were easing.