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• Glencore to lay out Xstrata merger plans
• Goldman may break up sale of Swedish oil group: paper
• Spain region, Greek exit warnings rattle euro zone
• BOE'S Dale says expects euro zone uncertainty set to continue
• Graff upbeat on $1 billion IPO despite market slump
• France Telecom acquires 94 percent of Egypt's Mobinil: bourse
• Lessons from the Rock for Europe's banks
• Maaden signs $1.5 billion aluminum refinery contract
• China to encourage private capital in banking industry
• China enters new era of services expansion with Singapore CPG buy
• J.P. Morgan replaces prime brokerage chief: report
• SNB considers capital controls if euro falls apart
• China to encourage private capital in banking industry
• Analysis: Ukraine's $13.4 billion soccer spend might become debt burden
• Spain's Bankia treats $29B state aid as investment
• Senator asks airlines to drop seat fee for kids
• Ukraine corporate raids stifle foreign investment
• Austrian finance minister: No to eurobonds

Glencore to lay out Xstrata merger plans Posted: 27 May 2012 02:33 AM PDT LONDON (Reuters) - Glencore will this week move into the final stage of its long-awaited $30 billion takeover of miner Xstrata, as shareholders are sent detailed documents on the deal, kicking off a last charm offensive ahead of July votes. But Xstrata investors hoping for an improvement to the all-share offer are likely to be disappointed, at least for now. ...

Goldman may break up sale of Swedish oil group: paper Posted: 27 May 2012 06:52 AM PDT LONDON (Reuters) - Goldman Sachs is considering selling off Swedish oil group Svenska Petroleum Exploration in chunks, the Independent on Sunday reported. The UK newspaper said on Sunday that most potential bidders, including the UK's BP and Shell , were not interested in the whole group, which is owned by Saudi billionaire Mohammed Hussein al-Amoud. It cited an industry source as saying that bidders, including private equity firms keen on cashing in on the growing African oil and gas market, had expressed interest in individual countries and regions. ...

Spain region, Greek exit warnings rattle euro zone Posted: 27 May 2012 03:55 AM PDT (Reuters) - Central banks and companies risk making a grave error if they do not brace for a possible Greek exit from the euro zone, Belgium's foreign minister said on Friday, rattling markets already alarmed by Spain's deteriorating finances. Greek elections are scheduled for June 17 and could hasten the country's departure from the currency club should a government intent on ripping up the country's bailout program result. Contrasting findings of opinion polls on Friday showed the outcome is too tight to call. ...

BOE'S Dale says expects euro zone uncertainty set to continue Posted: 27 May 2012 03:02 AM PDT LONDON (Reuters) - Uncertainty in the euro zone will continue for the next few years, acting as a drag on the UK economy, Bank of England policy maker Spencer Dale was quoted as saying in a newspaper on Sunday. Britain is not a member of the single currency bloc, but it depends on the economic area for 40 percent of exports. The UK economy slipped back into recession in the first quarter of this year and data continues to show Britons have been shopping much less and factories are getting fewer orders. ...

Graff upbeat on $1 billion IPO despite market slump Posted: 27 May 2012 08:37 AM PDT HONG KONG (Reuters) - London luxury jeweler Graff Diamonds has seen "tremendous interest" for its Hong Kong IPO of up to $1 billion, which is entering its final stretch in the shadow of a global stock market rout. Famous for its giant and rare gems, Graff will on Monday test retail investors' appetite for what is set to be Asia's biggest IPO this year. The IPO comes close on the heels of the botched $16 billion Facebook Inc offering, which has undermined investor confidence. ...

France Telecom acquires 94 percent of Egypt's Mobinil: bourse Posted: 27 May 2012 08:33 AM PDT CAIRO (Reuters) - France Telecom acquired 94 percent of Egyptian mobile phone company Mobinil in a tender offer, Egypt's stock exchange said on Sunday, giving the French group control of a top sector player in a volatile but lucrative emerging market. Mobinil, founded by Egyptian businessman Naguib Sawiris, vies with Vodafone Egypt for dominance of Egypt's mobile market, which was buffeted by political headwinds after an uprising ousted President Hosni Mubarak last year. ...

Lessons from the Rock for Europe's banks Posted: 27 May 2012 07:07 AM PDT LONDON (Reuters) - In November 2010, rumors swirled through financial markets that Spanish bank BBVA was suffering a run on its deposits. The share price fell before excitable traders realized they had made a mistake. In fact the bank was holding a "fun run" in Madrid and customers had lined up outside its branches to get their T-shirts. In a jittery market, talk spread quickly and few things worry bank investors and customers more than talk of a run. Nervous times have returned to the euro zone, and customers are worrying again about whether their savings are safe. ...

Maaden signs $1.5 billion aluminum refinery contract Posted: 27 May 2012 06:45 AM PDT JEDDAH (Reuters) - Saudi Arabian Mining Company (Maaden) has awarded a $1.5 billion contract to South Korea's Hyundai Engineering & Construction Co. to build an aluminum refinery in the kingdom, a bourse statement said on Sunday. The refinery, to be constructed in the Eastern Province, will have an annual production capacity of 1.8 million metric tons of smelter-grade alumina and is scheduled to be completed by the end of 2014, the statement to Saudi Arabia's stock exchange said. ...

China to encourage private capital in banking industry Posted: 27 May 2012 04:20 AM PDT BEIJING (Reuters) - China will give private capital the same entry standards to the banking industry as other capital, state media said on Sunday, as the government makes its hardest push in a decade to court private investors by welcoming them into a handful of sectors. Private companies would be allowed to buy into banks through private stock placements, new share subscriptions, equity transfers, and mergers and acquisitions, the official China Daily said, citing the China Banking Regulatory Commission. ...

China enters new era of services expansion with Singapore CPG buy Posted: 27 May 2012 03:36 AM PDT BEIJING (Reuters) - China broadened its overseas investment strategy into the services industry on Sunday, with the country's top state-owned design and management purchasing a Singapore design firm. China's "going out" policy has led to a number of overseas acquisitions in the past decade, primarily in the natural resources and equipment sectors, as the nation draws on its stockpile of foreign reserves to obtain much-needed raw materials. Having invested heavily in "hardware," Beijing is now encouraging the upgrade of the nation's "software" or technical skills. ...

J.P. Morgan replaces prime brokerage chief: report Posted: 26 May 2012 11:32 AM PDT CHICAGO (Reuters) - JPMorgan Chase & Co is replacing Lou Lebedin after keeping him for just two months as the New York bank's sole global prime brokerage chief, Bloomberg News reported, citing unnamed people familiar with the change. Lebedian, a 54-year old former Bear Stearns executive, had been co-head of JPMorgan's global prime brokerage since 2008, and had run the business solo since March when his London-based co-head was moved to a different role. Lebedin is being replaced by Teresa Heitsenrether, the co-head of JPMorgan's fixed income brokerage since 2008. ...

SNB considers capital controls if euro falls apart Posted: 27 May 2012 02:09 AM PDT ZURICH (Reuters) - Switzerland is drawing up plans for emergency measures including capital controls in case the euro collapses although it does not expect to need them and will continue to defend a cap on the franc in the meantime, the head of the central bank said. "We must be prepared just in case the currency union collapses, although I don't expect that," Swiss National Bank President Thomas Jordan, who predicted the euro zone crisis in his 1994 doctoral thesis, told the SonntagsZeitung newspaper. ...

China to encourage private capital in banking industry Posted: 26 May 2012 07:58 PM PDT BEIJING (Reuters) - China will give private capital the same entry standards to the banking industry as other capital, state media said on Sunday, as the government makes its hardest push in a decade to court private investors by welcoming them into a handful of sectors. Private companies would be allowed to buy into banks through private stock placements, new share subscriptions, equity transfers, mergers and acquisitions, the official China Daily said, citing the China Banking Regulatory Commission. ...

Analysis: Ukraine's $13.4 billion soccer spend might become debt burden Posted: 27 May 2012 02:02 AM PDT KIEV (Reuters) - Ukraine may never recover all of the billions of dollars it has spent to co-host next month's European soccer championship and the outlay might complicate its chances of servicing its debt. The staging of the month-long Euro 2012 tournament - absorbing a total of $13.4 billion including $6.6 billion from state coffers - is unlikely to make the former Soviet republic any more inviting for foreign investment, analysts say. ...

Spain's Bankia treats $29B state aid as investment Posted: 27 May 2012 06:35 AM PDT The president of troubled Spanish lender Bankia says the €23.5 billion ($29.5 billion) in state aid it will receive in the country's biggest-ever bank bailout will be treated as an investment to make profit for the Spanish government and not as a loan.

Senator asks airlines to drop seat fee for kids Posted: 27 May 2012 05:47 AM PDT Sen. Charles Schumer is urging airlines to allow families with young children to sit together without paying extra.

Ukraine corporate raids stifle foreign investment Posted: 27 May 2012 03:21 AM PDT Yuri Leshchinsky spent more than a decade transforming an ailing Soviet-era factory into a leading candy maker. When a board meeting drew him to the plant from his New York home, he was in for a shock: Black-clad security guards armed with rubber batons were there to meet him, blocking his way.

Austrian finance minister: No to eurobonds Posted: 26 May 2012 09:40 AM PDT Austria's finance minister is rejecting the idea of introducing jointly issued eurobonds any time soon and says that running up new debts to finance growth is "nonsense."

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