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  • *New Zealand dollar falls from highs after intervention warning. LONDON, May 7- The New Zealand dollar was the main mover on developed currency markets overnight, falling more than half a cent after its central bank warned it could intervene against a currency boosted by rises in official interest rates.

  • BEIJING, May 7- China's Foreign Ministry said on Wednesday that Chinese drilling in the South China Sea has nothing to do with the United States, and the country has no right to make irresponsible remarks about China's sovereign rights. The U.S. had sharply criticized the movement of a huge Chinese oil rig into waters that Vietnam says are its territory.

  • TOKYO, May 7- Tokio Marine& Nichido Fire Insurance, a significant investor in Japan's domestic assets, says markets should brace for some volatility in bond yields which have been depressed by the central bank's monetary easing. Tokio Marine& Nichido Fire is the core arm of Tokio Marine Holdings, one of Japan's big three non-life insurer groups.

  • ING CFO SAYS DIVIDENDS WILL' FEATURE STRONGLY' IN INSURANCE ARM IPO.

  • The fight on Sunday between Crown Resorts Ltd Executive Chairman Packer and David Gyngell, chief executive of Nine Entertainment Group, left Packer with a black eye and a bruised reputation after photographs of the violence were published around the world.

  • LONDON, May 7- European stocks fell at the open on Wednesday, hit by heavy losses on Wall Street and as results from local blue chips such as brewer Carlsberg and French bank Societe Generale showed the Ukraine crisis was starting to hurt large western companies.

  • DONETSK, Ukraine, May 7- Behind the barricades of tyres and car bumpers, past the masked militants who hold Donetsk's filthy administration building, there is a man in a suit in a spotless office, working from an Apple iMac on a vote to dismember Ukraine. But, he said, "we simply cannot live any more within Ukraine. Ukraine has already de facto said goodbye to us. "

  • TOKYO, May 7- Japan's Nintendo Co Ltd on Wednesday said it expects to return to profit in the current business year after three straight years of losses, helped by a series of new video games for its Wii U console.

  • BEIJING, May 7- China shares closed down on Wednesday, after a private survey showed that growth in the country's service sector slowed. The Markit/ HSBC services Purchasing Managers' Index slipped to 51.4 in April from March's 51.9, showing there still is growth but the pace of it has dropped, adding to the cloudy outlook for the world's second-largest economy.

  • *Siemens says won't be forced into bid for Alstom assets. BERLIN, May 7- German engineering giant Siemens unveiled a long-awaited strategic overhaul on Wednesday to catch up with more profitable competitors and said it would not be forced into making a formal offer for the energy assets of French rival Alstom.

  • TOKYO, May 7- Japan's SoftBank Corp on Wednesday forecast its operating profit would fall by about 8 percent this financial year from last year's record high as it loses one-off benefits from the consolidation of some of its units.

  • BAE Systems says outlook for year unchanged Wednesday, 7 May 2014 | 2:20 AM ET

    LONDON, May 7- Europe's biggest defence contractor BAE Systems said its outlook for the year was unchanged from February, when it forecast an earnings drop of up to 10 percent this year.

  • ZURICH, May 7- Swiss Re, the world's second-largest reinsurer, said first-quarter net profit fell 13 percent on weaker earnings in its life and health arm, although fewer natural catastrophes meant the fall was less than expected.

  • TOKYO, May 7- Japan's Nikkei share average tumbled 2.9 percent to a three-week low on Wednesday, posting its biggest daily drop since mid-March, as a stronger yen dragged down exporters and concerns about Ukraine curbed investors' risk appetites. The Nikkei closed down 424.06 points to 14,033.45, its lowest closing level since April 15.

  • *Chinese e-commerce giant files for most anticipated IPO since Facebook. Alibaba Group Holding Ltd, which powers 80 percent of all online commerce in the world's second-largest economy, is expected to raise more than $15 billion, and could top the $16 billion pulled in by Facebook Inc when it listed in 2012..

  • The fight on Sunday between Crown Resorts Ltd Executive Chairman Packer and David Gyngell, chief executive of Nine Entertainment Group, left Packer with a black eye and a bruised reputation after photographs of the violence were published around the world.

  • *Siemens mulling bid for rival Alstom's energy business. BERLIN, May 7- German engineering giant Siemens unveiled a long-awaited strategic overhaul in a bid to catch up with more profitable rivals, as it posted weaker-than-expected quarterly earnings on Wednesday, hit by charges in its energy business.

  • *Bulgaria exports doubled in five years. *Bulgaria hopes to undercut European competitors. RUSE, Bulgaria, May 7- In its glory days, Ruse, a town along the Danube river trading route, was a thriving economic hub that was home to Bulgaria's first chamber of commerce and known as' little Vienna' for its Austrian-style buildings.

  • FRANKFURT, May 7- German cement maker HeidelbergCement posted a more than five-fold increase in quarterly operating income that beat consensus thanks to mild winter weather in Europe and price increases in key markets.

  • LONDON, May 7- Dutch financial group ING made underlying profits of 988 million euros in the first quarter of the year, slightly missing expectations, as loan losses remained high despite a better outlook for the Dutch economy.