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  • Italy's Enel, which is poised to take over Spain's biggest utility, will expand its presence in Russia after it beat rivals to buy a one-quarter stake in the Russian wholesale generation company OAO OGK-5 for about $1.52 billion.

  • The French government's plan to exempt workers and businesses from taxes on overtime pay to stimulate the economy will cost 2.5 billion euros to 3 billion euros  ($3.38 billion to $4.06 billion), Prime Minister Francois Fillon said Wednesday.

  • What goes wrong for markets from here? Morgan Stanley created ripples on the pond this morning by issuing its so-called triple-sell warning on equities. The research suggests a 14% correction likely over the next 6 months. Do you buy it? Were they producing warnings like these on the eve of the last significant correction?

  • The European Central Bank is poised to raise interest rates to 4.0% on Wednesday, the highest level in six years, with investors anxious for clues on the pace of future hikes.

  • GlaxoSmithKline, its shares off 12% in the past fortnight due to a safety scare over diabetes drug Avandia, is under growing pressure to increase cash returns to mollify shareholders.

  • British service sector activity grew slightly more than expected in May but companies raised prices at their weakest rate in more than a year, a survey showed on Tuesday.

  • Whole Foods Market, the world's largest organic and natural foods chain, opens its first store outside North America in London on Wednesday and plans hundreds more in Britain and across Europe.

  • The above were the words of Henry Kravis, recently celebrating the success of the private equity industry. Kravis and his peers are in the headlines like never before, the cost of capital below the earnings yield of target companies is providing a powerful dynamic for the deals to continue.

  • Leaders of the G8 powers will call this week for greater vigilance on hedge funds in the hope that the industry will take it upon itself to prevent accidents like the collapse of LTCM in the late 1990s.

  • Virgin Group founder Richard Branson plans business class-only flights with a fleet of up to 15 new planes, in a move which could spell trouble for upstart rivals in the competitive transatlantic market.

  • Telecom equipment maker Nokia Siemens Networks said Friday that it appointed Eric Simonsen as chief financial officer, effective June 1.

  • Cadbury Schweppes is planning to move out of its expensive central London offices as part of a cost-cutting drive that will be announced on June 19, a source familiar with the matter said on Friday.

  • Euro zone quarterly economic growth slowed as expected at the start of the year as consumer demand contracted and export growth plunged, data from European Union statistics office Eurostat showed on Friday.

  • ABN Amro urged a Royal Bank of Scotland-led consortium and Bank of America to settle their dispute over the acquisition of ABN's U.S. unit, LaSalle, as the subsidiary's future remains a sticking point in the takeover battle for the Dutch bank, the Financial Times reported Friday.

  • Swiss Re is set to buy nearly 4 billion pounds ($7.90 billion) worth of U.K. life insurance liabilities from Swiss insurer Zurich Financial, the Wall Street Journal said on Friday. Both Zurich Financial and Swiss Re declined to comment on the story, which said terms of the deal were not known.

  • Man Group, the world's largest publicly traded fund manager, said Thursday that full-year profit rose 27% after the company boosted the amount of funds under management.

  • Germany's unemployment rate dropped to 9.1% in May and the number of people out of work fell to a 5 1/2-year low amid a sustained pickup in Europe's biggest economy, government figures showed Thursday.

  • England's Premiership soccer players will earn more than 1 billion pounds ($1.97 billion) for the first time next season thanks to television, sponsorship and merchandising deals, a top accountancy firm said on Thursday.

  • Dutch chip equipment maker ASML said on Thursday it will return about 960 million euros ($1.3 billion) to shareholders in combination with a reverse stock split to optimize its capital structure.

  • Switzerland's first quarter gross domestic product grew a real (or inflation-adjusted) 0.8% from the fourth quarter of last year and increased a 2.4% year-on-year, the Swiss state secretariat for economic affairs (SECO) said.