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October 20, 2014 / 12:36 PM / 3 years ago

BUSINESS-NEWS-SCHEDULE AT 1230 GMT / 8.30 AM ET

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TOP STORIES

Solid data, earnings push world stocks higher

LONDON - Global stocks climb, moving further away from eight-month lows hit last week, as strong U.S. data and encouraging third-quarter earnings ease concerns about the pace of global economic recovery. (MARKETS-GLOBAL/ (WRAPUP 5), moved, by Atul Prakash, 765 words)

Germany risks recession, in Bundesbank’s bleak outlook

FRANKFURT - Germany risks coming dangerously close to recession, the central bank says in a forecast that predicts little or no economic growth in the second half of the year. (GERMANY-ECONOMY/BUNDESBANK (UPDATE 1), moved, by John O‘Donnell, 270 words)

+ See also:

- ECB/CONSTANCIO, moved, 100 words

- ECB-POLICY/COVEREDBONDS (UPDATE 1), moved, by Eva Taylor and Blaise Robinson, 400 words

IBM posts 4 pct drop in quarterly revenue, shares slump

International Business Machines Corp reports a 4 percent drop in quarterly revenue as client activity slowed in September, sending its shares down sharply in premarket trade. (IBM-RESULTS/ (UPDATE 1), moved, 335 words)

Faster “cloud” orders for SAP hurt 2014 profit outlook

FRANKFURT - German software maker SAP cut its 2014 operating profit forecast as customers shifted faster than expected to products delivered over the Internet, delaying when those orders can be booked as sales. (SAP SE-RESULTS/ (UPDATE 2), moved, by Harro Ten Wolde and Eric Auchard, 800 words)

MARKETS

Banks to get instruction manual for submitting Libor quotes

LONDON - Banks who submit quotes for compiling Libor interest rates will have to follow a manual of instructions to avoid a repeat of the rigging seen in the past, the benchmark’s new administrator says. (LIBOR/REGULATIONS, moved, by Huw Jones, 530 words)

ECONOMY

BoE’s Cunliffe says banks may have to cut pay

LONDON - Banks may have to cut pay because they are unlikely to see again the high rate of returns they enjoyed before the financial crisis, Bank of England Deputy Governor Jon Cunliffe says. (BOE-BANKING/PAY (UPDATE 1), moved, by Huw Jones, 400 words)

ECB review will clarify Greece’s needs - bailout fund head Regling

BRATISLAVA - A review of the European banking sector due to be released on Oct. 26 should bring clarity on Greece’s funding needs, the head of the monetary union’s bailout fund says. (EUROZONE-ESM/, moved, 350 words)

Credibility meets compromise in Europe’s bank stress test

LONDON - When Europe announced its latest health check of top banks early last year it promised a “comprehensive assessment” of how well prepared they were to withstand another financial crisis. In practice, a spirit of comprehensive compromise has been just as important. (ECB-BANKS/TESTS (GRAPHIC), moved, by Laura Noonan, 1,560 words)

Japanese PM Abe suffers setback as two ministers quit

TOKYO - Two Japanese cabinet ministers resign over the dubious use of political funds, dealing Prime Minister Shinzo Abe his biggest setback since he took office in December 2012. (JAPAN-POLITICS/ (UPDATE 9, PICTURE, TV), moved, by Linda Sieg, 855 words)

+ See also:

- JAPAN-ECONOMY/BOJ-REPORT (UPDATE 2), moved, by Leika Kihara, 685 words

- JAPAN-ECONOMY/STIMULUS (INTERVIEW, UPDATE 1), moved, by Tetsushi Kajimoto and Yuko Yoshikawa, 500 words

EU’s Barroso warns Britain against “historic mistake” on immigration rhetoric

LONDON - European Commission President Jose Manuel Barroso tells British Prime Minister David Cameron he risks upsetting allies and losing international clout if he pursues an anti-immigration agenda designed to please domestic voters. (BRITAIN-POLITICS/BARROSO (UPDATE 1), moved, by William James, 605 words)

Market action reinforces need for policy patience -Fed’s Rosengren

BOSTON - The recent volatility in financial markets reinforces the need for the Federal Reserve to be patient with its policy stimulus and to clearly tie an eventual interest-rate rise to improving economic conditions, a top Fed policymaker told Reuters. (USA-FED/ROSENGREN (INTERVIEW), moved, by Jonathan Spicer, 620 words)

COMPANIES

Chemical company Platform to buy Arysta LifeScience for $3.5 bln

Specialty chemicals company Platform Specialty Products Corp says it will buy rival Arysta LifeScience Ltd from a company backed by private equity firm Permira for about $3.51 billion. (PLATFORMSPECIALITY-M&A/ARYSTA (UPDATE 1), moved, 380 words)

+ see also:

- NUTRECO-M&A/SHV (UPDATE 1), moved, 460 words

- SKYDEUTSCHLAND-M&A/BSKYB , moved, 180 words

Halliburton profit beats as N.America drilling stays strong

Halliburton Co, the world’s No.2 oilfield services provider, reports a better-than-expected quarterly profit, helped by buoyant shale drilling activity in North America. (HALLIBURTON-RESULTS/ (UPDATE 1), moved, 400 words)

Stress test jitters rattle Monte Paschi investors

MILAN - Shares in Banca Monte dei Paschi di Siena remain under pressure on market fears that a European banking review may reveal a fresh capital shortfall at the bailed-out Italian lender. (EU-BANKS/MPS (UPDATE 1), moved, by Stephen Jewkes, 465 words)

EU and China end telecoms row as EU drops threats against Huawei

BRUSSELS - The European Union has ended a long-running telecoms row with China, the EU’s trade chief said on Monday, dropping a threat to levy punitive tariffs on Chinese telecoms exports and easing tensions between two of the world’s top trading powers. (EU-CHINA/TELECOMMUNICATIONS (UPDATE 2), moved, by Robin Emmott, 580 words)

Price pressure weighs on Philips as lighting split looms

AMSTERDAM - Philips slides to a net loss in the third quarter, weighed down by one-off charges and weak demand in Russia and China -- a setback for the Dutch healthcare-to-bulbs group as it pushes ahead with a radical plan to spin off its lighting arm. (PHILIPS-RESULTS/ (UPDATE 2), moved, by Thomas Escritt, 560 words)

Adidas shares jump on report of bid for Reebok unit

BERLIN - Shares in German sportswear firm Adidas AG jump after the Wall Street Journal reports that an investor group that includes Jynwel Capital and funds affiliated with the Abu Dhabi government plans a $2.2 billion bid to buy Reebok. (ADIDAS-REEBOK/JYNWELCAPITAL (UPDATE 2, PICTURE), moved, By Emma Thomasson, 590 words)

Metro eyes better Christmas as consumer electronics turns corner

BERLIN - German retailer Metro AG says it is “optimistic” ahead of the crucial Christmas period, after posting improved sales at its struggling consumer electronics unit for the first time in over two years. (METRO-RESULTS/ (UPDATE 2), moved, by Emma Thomasson, 470 words)

France shows UK grocers how to beat discounters at own game

PARIS/BERLIN - The success of French retailers in stopping the advance of discounters in the last five years shows a way out of the crisis embroiling Britain’s “big four” grocers. Their simple formula: fewer complex promotions and big price cuts across the board. (RETAIL-EUROPE/FRANCE, moving shortly, by Dominique Vidalon and Emma Thomasson, 900 words)

Havas stock jumps, Bollore’s slumps after exchange offer

PARIS - Shares in Havas jump as much as 9.4 percent in early trading after French tycoon Vincent Bollore launched an exchange offer on the stock on Friday with a view to gain control of the world’s sixth-largest advertising company. (HAVAS-M&A/BOLLORE, moved, 150 words)

Electrolux sees anaemic growth in Europe as cost cuts lift profit

STOCKHOLM - Global home appliances maker Electrolux strikes a note of caution over its European business, predicting market growth at the low end of its forecast range after reporting slightly better than expected quarterly profit. (ELECTROLUX-RESULTS/ (UPDATE 2), moved, by Niklas Pollard and Johannes Hellstrom, 510 words)

Pilots extend Lufthansa strikes to long-haul flights

FRANKFURT - German pilots union VC widens its strike at Lufthansa to include long-haul flights on Tuesday, having previously targeted only the carrier’s short and medium-haul routes on Monday and Tuesday. (GERMANY-STRIKE/LUFTHANSA-LONGHAUL (UPDATE 1), moved, 300 words)

Shire CFO to leave drugmaker as AbbVie drops bid

LONDON - British drugmaker Shire will lose its interim chief financial officer early next year to water supplier Severn Trent, the latest blow for Shire, whose proposed $55-billion acquisition by U.S. rival AbbVie was aborted last week. (SHIRE-MOVES/CFO (UPDATE 1), moved, 260 words)

Sanofi, Regeneron start Phase 3 trial of dupilumab in eczema

PARIS - French drugmaker Sanofi and its U.S. partner Regeneron says they have started a Phase III clinical study of their experimental drug dupilumab in patients with atopic dermatitis. (SANOFI SA-REGENERON PHARM/ECZEMA, moved, 250 words)

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