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  • *Auto bosses say Germany lags rival countries. FRANKFURT, Feb 3- Germany needs incentives to boost demand for electric cars if it is to retain its leading edge as an automotive market, industry bosses said on Wednesday, a day after a high-level meeting with Chancellor Angela Merkel ended without a deal on subsidies. Germany lags other markets like Norway and the...

  • UPDATE 3-ABB shifts focus in China as demand slumps Wednesday, 3 Feb 2016 | 6:35 AM ET

    *ABB hit by slumping demand in China and from oil customers. ZURICH, Feb 3- Swiss engineer ABB is responding to sluggish demand in China by expanding in the country's western cities and focusing on sales of robotics and high-voltage power equipment, while cutting costs across the group. A cost-cutting programme meant to trim ABB's expenses by some $1 billion...

  • UPDATE 2-Swatch's sales and profits hit by strong franc Wednesday, 3 Feb 2016 | 2:39 AM ET

    *2015 net profit falls 21 pct to 1.12 bln Sfr, lags poll avg. ZURICH, Feb 3- Swiss watchmaker Swatch Group reported a worse than expected 21 percent drop in net profit to 1.12 billion Swiss francs on a drop in sales on Wednesday, blaming strong exchange rates, but forecast a pick-up in sales in 2016.. Swatch proposed an unchanged dividend of 7.50 francs per bearer share...

  • HONG KONG— A Chinese state-owned chemical maker offered to buy Swiss pesticide giant Syngenta for $43 billion in what would be the biggest-ever foreign acquisition by a Chinese company. Basel- based Syngenta said in a statement that ChemChina's cash offer is worth the equivalent of 480 francs a share, including a special 5 franc dividend for shareholders if...

  • DIARY-Top Economic Events to Feb 16 Tuesday, 2 Feb 2016 | 7:01 PM ET

    WEDNESDAY, FEBRUARY 3 LONDON- Treasury Select Committee Hearing- The Economic and financial costs and benefits of UK's EU membership with Bank of England's Chief Executive Officer of the Prudential Regulation Authority Andrew Bailey- 1415 GMT. ROME- UK Finance Minister George Osborne and Italian Economy Minister Pier Carlo Padoan take part in a debate...

  • SP Plus Corp. will handle paid parking at all non-union MGM Resorts International properties, including Mandalay Bay, Delano, Monte Carlo, New York-New York, Vdara, Aria, Bellagio, The Mirage and MGM Grand, the company said. Valets were told during an afternoon employees' meeting that SP Plus will hire MGM Resorts' approximately 400 non-union parking service...

  • WASHINGTON, Feb 2- Malaysian Prime Minister Najib Razak is not among those accused of wrongdoing in an investigation by Switzerland's chief prosecutor into alleged corruption involving the 1 Malaysia Development Berhad sovereign fund, a Swiss official said on Tuesday. Andre Marty, spokesman for the Office of Swiss Attorney General Michael Lauber, said in an...

  • AMSTERDAM, Feb 2- The European Union will hold public consultations in the coming months to gather the opinions of industry and trade unions on whether to relax trade barriers against China at the end of the year, as Beijing demands. At issue is whether it grants China "market economy status" from December, which would make it far harder for Europe to impose...

  • Pacific Biosciences shares were trading up 25 percent at $12.70 in afternoon trading in New York on the news, giving the company a market value of close to $1 billion. Based in Menlo Park, California, Pacific Biosciences focuses primarily on developing and manufacturing systems for gene sequencing. In 2013, Roche, which is based in Basel, Switzerland, penned a...

  • LONDON, Feb 2- Mobile phone networks operator Vodafone said on Tuesday it was in talks with John Malone's cable company Liberty Global about forming a joint venture in the Netherlands. Liberty Global owns Ziggo, the largest cable TV operator in the Netherlands, while Vodafone is the second biggest mobile network operator, behind KPN. Shares in Vodafone reversed...

  • Tuesday's decision by Judge Richard Posner of the 7th U.S. Circuit Court of Appeals highlights the hurdles that passengers can face in holding carriers liable for travel snags, including when foreign laws or code-sharing arrangements are involved. In the first case, the appeals court said Deutsche Lufthansa AG owed nothing to a California man who arrived in...

  • Feb 2- Japan may in the end follow its own advice to China, by implementing capital controls. What is now essentially a currency war in which China, Japan and others fight over the limited supply of external demand may eventually cause dislocations that make highly unorthodox steps like capital controls palatable. While the move is justified by the Bank of...

  • DUBAI, Feb 2- Iran has no problem with U.S. companies investing in its economy and creating joint ventures, President Hassan Rouhani said on Tuesday, and he called for foreign investment and diversification away from oil. The president said the lifting of sanctions last month under a nuclear deal with world powers would see foreign investment turn Iran into an...

  • *2015 sales 35.66 bln eur vs poll avg 35.51 bln. PARIS, Feb 2- LVMH, the world's biggest luxury group, bucked an industry downturn with stronger-than-expected fourth-quarter sales growth as resilience in Europe, Japan and the United States helped compensate for weakness in China. LVMH Chief Executive Bernard Arnault on Tuesday said traffic at the luxury group's...

  • GENEVA/ PARIS, Feb 2- The Zika virus could spread to Africa, Asia and southern Europe, the World Health Organization said on Tuesday, as major French drugmaker Sanofi SA and others joined the race to create a vaccine. A day after Geneva- based WHO declared an international public health emergency due to Zika's association with the birth defect microcephaly in...

  • * "Highly unlikely" OPEC, Russia will cooperate- Goldman. The oil markets erased most of last week's four-day rally, when soared almost 20 percent from the lows touched in mid-January, after Russia's Energy Minister said OPEC kingpin Saudi Arabia suggested a production cut. This week though, those hopes have dimmed as no deal has emerged and talks between Russia's...

  • PARIS, Feb 2- LVMH, the world's biggest luxury group, said it achieved like-for-like sales growth of 6 percent last year as resilience in Europe, Japan and the United States helped compensate for weakness in China. Growth in the luxury goods market has slowed, particularly in the second half of 2015 after the November terrorist attacks in Paris put tourists off...

  • Oil has fallen from $107 to around $30 in the past 19 months. Furious production by the U.S. and OPEC led to an oversupply. In a recent research note, Goldman Sachs predicted "the path to a rebalanced market will be protracted and arduous."

  • BRUSSELS— Will the EU's offer be enough to keep Britain in the European Union? The proposals contain no changes to the EU's governing treaties, but Britain does win some concessions, notably a green light to limit benefits for migrants. The plan provides for a special "emergency brake" that Britain could use exceptionally when too many workers are coming in— and the...

  • * "Highly unlikely" OPEC, Russia will cooperate- Goldman. NEW YORK, Feb 2- Oil fell on Tuesday, with U.S. crude briefly slipping below $30, dented by worries about demand amid a mild winter and concerns of rising supply as hopes for a deal between OPEC and Russia on output cuts fade. The oil market rallied for four straight days last week after Russia's Energy Minister said...