NEW YORK— A federal bankruptcy court has approved the sale of cupcake chain Crumbs, which closed down its stores in July, to a group that includes investor and reality TV star Marcus Lemonis. The order from Judge Michael Kaplan of the U.S. Bankruptcy Court for the District of New Jersey was entered Wednesday.» Read More
*Over 90 pct of Scania shareholders accepted buyout offer. HANOVER, Germany/ STOCKHOLM, May 13- Volkswagen's 6.7 billion euro offer for its Swedish truck division Scania was accepted by minority shareholders, a big step in the German automaker's plan to create a trucks alliance to compete in global markets.
Moscow and Kiev are on the cusp of another gas war after Kiev has refused to pay at higher levels demanded by Gazprom. Ukraine wants to change the conditions of a 2009 contract that locked Kiev into buying a set volume, whether it needs it or not, at $485 per 1,000 cubic metres- the highest price paid by any client in Europe.
RIYADH, May 13- Economic conditions in the United States would have to shift dramatically for the Federal Reserve to change the rate at which it is winding down its money-printing programme, a senior official at the central bank said on Tuesday.
*Indonesia ban on ore exports has sparked wave of supply fears. TOKYO, May 13- Pacific Metals Co Ltd, Japan's biggest ferronickel maker, said it had secured enough supplies of nickel ore for this financial year, amid surging nickel prices as supply concerns grip the market.
*UK retailers competitive on choice, prices, delivery. BERLIN/ PARIS, May 13- Marks& Spencer Plc is making a new push to expand abroad, hoping e-commerce will give Britain's biggest clothing retailer a better chance to succeed than earlier attempts to enter new markets.
PARIS, May 13- Airbus Group posted better than expected first-quarter earnings on Tuesday, sparking a relief rally in its shares as it dodged the impact of higher costs for its new A350 jet, which remains on track for a late-2014 debut.
*Broad share market rally eclipses Ukraine tensions. The run of positive corporate news continued in Europe, with Germany's ThyssenKrupp raising its full-year earnings outlook on Tuesday, while aerospace group Airbus Group posted a narrower-than-expected drop in core earnings and reaffirmed its financial goals for the year.
BEIJING, May 13- China's implied oil demand fell 0.8 percent in April from the previous month to its lowest since September as refineries scaled back production for maintenance and continued to export surplus fuel to trim inventories as the nation's economy slowed.
*Pro-Moscow rebels in east Ukraine call to join Russia. LONDON May 13- Brent crude slipped towards $108 a barrel on Tuesday, pressured by a possible sharp recovery in Libyan oil production, while the threat of further Western sanctions against Russia over Ukraine stemmed further losses.
*Airbus surges after better-than-expected results. Airbus Group surged 5 percent in a relief rally after it reported better-than-expected profits and said its latest jetliner, the A350, was "progressing towards certification" in time for first delivery by the end of the year. "Airbus Group results are a decent beat...
BEIJING, May 13- Hong Kong shares edged up to a two-week high on Tuesday, led by gains in property stocks amid speculation the government may relax the city's stamp duty rules. The Hang Seng Index closed up 0.4 percent at 22,352.38 points, its highest since April 29. China Overseas Land& Investment Ltd gained 3.8 percent, while Sino Land Co Ltd increased 3.4 percent.
LONDON, May 13- U.S. drugmaker Pfizer hinted it could make a higher offer for Britain's AstraZeneca as the New York- based group's boss went into a meeting with UK lawmakers on Tuesday at which he was expecting to be grilled over promises on British jobs. Ian Read faces hostile questions in parliament over his proposed $106 billion play for AstraZeneca.
*C.bank tells banks to relax mortgage lending-sources. BEIJING/ HONG KONG, May 13- China's central bank has asked commercial banks to speed up the granting of home loans and to set mortgage rates at reasonable levels, four sources told Reuters on Tuesday, underlining its efforts to support the flagging property market as the economy cools.
LONDON, May 13- The euro stabilised near one-month lows against the dollar on Tuesday, as the recent selloff abated before a survey of German investor sentiment that might show some improvement in morale in Europe's biggest economy.
MOSCOW, May 13- Russian state gas company Gazprom is not looking at inviting Chinese companies to develop its gas fields, Deputy Chief Executive Vitaly Markelov said on Tuesday.
MOSCOW, May 13- Ukraine has 9 billion cubic metres of gas in storage and needs 18.5 billion cubic metres to avoid problems in winter, Gazprom Deputy Chief Executive Vitaly Markelov said on Tuesday. "According to our colleagues, 9 bcm is in storage. We estimate that needs around 18.5 bcm, "Markelov told a news conference.
LONDON, May 13- The boss of U.S. drugmaker Pfizer faces UK lawmakers on Tuesday with a promise and a threat- to protect British jobs in his proposed joint creation with AstraZeneca of a global powerhouse upon which he says the latter's future depends. Ian Read faces hostile questions in parliament over his proposed $106 billion play for AstraZeneca.
LONDON, May 13- European shares rose on Tuesday, with a key regional index making fresh six-year highs, as a rally in U.S. shares and upbeat updates from blue-chips such as steelmaker ThyssenKrupp supported risk appetite. Britain's FTSE was up 0.2 percent after briefly hitting its highest point in roughly a year.
PARIS, May 13- Airbus Group is entering a critical phase in the development of its new A350 passenger jet but flight tests are going well, Finance Director Harald Wilhelm said on Tuesday.
BEIJING, May 13- China shares closed down slightly on Tuesday, as investors locked in some of the previous day's strong gains following news of deepening capital reforms, though property continued to perform strongly. Coal shares gave back much of Monday's gains, dragging the CSI energy sub-index down 0.6 percent.