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TOP STORIES
Pfizer and Allergan scrap $160 bln deal after U.S. pushes tax rule
U.S. drugmaker Pfizer Inc and Ireland-based Allergan Plc walk away from their $160 billion merger, a major win for President Barack Obama who has been pushing to curb deals in which companies move overseas to save taxes. (ALLERGAN-M&A/PFIZER (UPDATE 2), moving shortly, 425 words)
Dollar and shares lick wounds ahead of Fed minutes
LONDON - The dollar edged up from a 17-month low against the yen, and buffeted European share prices benefit from a rebound in oil to move off their lowest level in over a month. (GLOBAL-MARKETS/ (WRAPUP 5), moved, by Marc Jones, 735 words)
German industry output raises growth hopes for first quarter
BERLIN - German economic growth looked set to accelerate in the first quarter of 2016 after official figures released show industrial output fell less than expected in February. (GERMANY-ECONOMY/OUTPUT (UPDATE 2), moved, by Michael Nienaber, 430 words)
Glencore sells agri unit stake for $2.5 bln to Canadian pension fund
LONDON - Commodity miner and trader Glencore has agreed to sell 40 percent of its agricultural unit to Canada's state pension fund for $2.5 billion, the company's latest step to cut debt and soothe investor concerns about the impact of weak commodity prices. (GLENCORE-AGRICULTURE/ (UPDATE 2), moved, by Dmitry Zhdannikov, 445 words)
MARKETS
Rand weakens 1 pct, EM stocks touch 3-week lows
LONDON - The South African rand falls after ratings agency Standard & Poor's hints at pressure on the sovereign rating and emerging equities dip to three-week lows as mixed Chinese service sector data weigh on sentiment. (EMERGING-MARKETS/, moved, by Claire Milhench, 505 words)
Yen holds strong after comments by Japan PM
LONDON - The dollar hovers near a 17-month low against the yen after taking a fresh knock overnight on comments by Japan's prime minister that suggest Tokyo is cautious about reining in the yen's rise. (GLOBAL-FOREX/ (UPDATE 3), moved, by Patrick Graham, 500 words)
+ See also:
- BRITAIN-STERLING/UPDATE 1, moved, by Anirban Nag, 445 words
German yields' drop towards zero halted by rising oil prices
LONDON - A push towards zero by 10-year Bund yields halt as oil futures recover and market participants hesitate to test the record lows reached before a sell-off last May. (EUROZONE-BONDS/ (UPDATE 1), moved, by Marius Zaharia, 430 words)
OIL
Russia sees oil price of $45-$50 per barrel 'acceptable' as it prepares for freeze deal - sources
MOSCOW - Russia believes an oil price at $45-$50 per barrel is acceptable to allow the global oil market to balance, as it prepares to meet leading oil producers in Doha later this month, sources familiar with Russian plans says. (RUSSIA-OPEC/FREEZE (UPDATE 2, EXCLUSIVE), moved, by Vladimir Soldatkin, 540 words)
+ See also:
- GLOBAL-OIL/ (UPDATE 6), moved, by Dmitry Zhdannikov, 410 words
- OIL-STORAGE/ (UPDATE 2), moved, by Ron Bousso and Libby George, 455 words
ECONOMY
World Bank cuts Russia growth forecasts, sees 1.9 pct GDP fall in 2016
MOSCOW - Russia's economy will contract by 1.9 percent in 2016 followed by growth of 1.1 percent next year, the World Bank says, cutting its forecasts to factor in a weaker global oil price. (WORLDBANK-RUSSIA/ECONOMY, moved, 150 words)
China data to show exports, bank lending rising in March
BEIJING - China's exports likely returned to growth for the first time in nine months in March while the pace of bank lending may have picked up, adding to signs that the world's second-largest economy may be stabilising. (CHINA-ECONOMY/ (PREVIEW), moved, 670 words)
+ See also:
- CHINA ECONOMY/PMI SERVICES CAIXIN, moved, 400 words
Irish consumer sentiment posts sharpest fall in 17 months
DUBLIN - Irish consumer sentiment posted its largest fall in 17 months in March, a survey shows, citing concerns about a domestic political stalemate and a possible British exit from the European Union among key factors. (IRELAND-ECONOMY/CONSUMERSENTIMENT, moved, 255 words)
COMPANIES
Chevron's $3 bln Asian geothermal assets to draw global suitors-sources
SINGAPORE - French utility Engie and Japan's Marubeni are among several suitors preparing to bid for Chevron Corp's Asian geothermal energy blocks valued at about $3 billion, sources familiar with the matter say. (CHEVRON-SALE/ (UPDATE 1), moved, by Anshuman Daga and Saeed Azhar, 490 words)
H&M sees hit from strong dollar starting to wane
STOCKHOLM - Hennes & Mauritz, the world's No. 2 clothes retailer, reports a smaller fall than expected in fiscal first-quarter profits as the impact of the strong U.S. dollar started to wane, although sales in March were weak. (H&M-RESULTS/ (UPDATE 2), moved, by Anna Ringstrom, 400 words)
Nokia to cut thousands of jobs following Alcatel deal
HELSINKI/PARIS - Telecom network equipment maker Nokia is planning to cut thousands of jobs globally, including 1,400 in Germany and 1,300 in its native Finland, as part of a cost-cutting programme following the acquisition of Alcatel-Lucent earlier this year. (NOKIA-ALCATELLUCENT/ (UPDATE 1), moved, 235 words)
UK new car registrations rise 5.3 pct year-on-year in March- SMMT
LONDON - British new car registrations rose 5.3 percent year-on-year last month, the Society of Motor Manufacturers and Traders says, the best month of sales since August 1997. (VEHICLEREGISTRATIONS-BRITAIN/, moved, 120 words)
+ See also:
- DAIMLER-VEHICLEREGISTRATIONS/MARCH, moved, 105 words
Air France-KLM must be among airline giants, outgoing CEO says
PARIS - Air France-KLM is no longer at risk financially but the Franco-Dutch carrier needs to become one of the world's airline giants again to avoid decline, outgoing Chief Executive Alexandre de Juniac tells RTL radio. (AIRFRANCEKLM-CEO/, moved, 330 words)
Barry Callebaut eyes premium and speciality to ease profit strain
ZURICH - Swiss chocolate maker Barry Callebaut's shares rise nearly 9 percent after the company reports gains in half-year sales and announces that it has successfully phased out less-profitable cocoa contracts. (BARRY CALLE-RESULTS/ (UPDATE 1), moved, 255 words)
Daimler sees better H2 after new E-Class, weak trucks weigh on Q1
BERLIN - Daimler says it expects its business to improve later in the year, after the introduction of its new E-Class model, strong demand for compact and locally made cars in China and weak truck markets weighed on earnings in the first quarter. (DAIMLER-OUTLOOK/, moved, 100 words)
+ See also:
- DAIMLER-AMAZON/HERE, moved, 220 words
China's Anbang resumes overseas push with deal to buy Allianz's S.Korean business
SEOUL - China's Anbang Insurance Group has agreed to buy German insurer Allianz's South Korean businesses for an undisclosed sum, it says, extending a push that has so far seen it spend billions of dollars on overseas assets. (ALLIANZ-SALE/ANBANG-AGREEMENT (UPDATE 2), moved, by Joyce Lee, 350 words)
Sovereign wealth fund deals down 17 pct in first quarter
LONDON - Sovereign wealth funds made $19.2 billion worth of overseas acquisitions in the first quarter, down almost 17 pct from the previous quarter but rebounding from $4.8 billion a year earlier. (GLOBAL-SWF/M&A (moved), moved by Claire Milhench, 365 words)
Barclays backs "social payments app" Circle as it launches in UK
LONDON - Barclays has become the first big British bank to form a partnership with a digital currency firm, social payments app Circle, which runs partly on bitcoin's blockchain network and launched in the UK. (BANK-PAYMENT/CIRCLE, moved, by Jemima Kelly, 500 words)
Spain's says no immediate intention of selling part of Repsol stake
MADRID - Spanish builder Sacyr says it has no immediate intention of selling part of its stake in oil company Repsol, after a report in newspaper Expansion that it was planning on cutting its position to 6.5 percent. (REPSOL-M&A/SACYR, moved, 100 words)
Airline hedges fuel rally in later dated oil prices
NEW YORK - Big airlines are making waves in the oil market for the first time since prices went into a tailspin nearly two years ago, betting this may be their best chance to lock in cheap jet fuel for years to come, industry and market sources say. (USA-AIRLINES/OIL, moved, by Catherine Ngai, 700 words)
