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• Greek PM to miss EU summit, "troika" postpones trip
• Stop asking for more help, Germany tells Greece
• Julius Baer eyes BofA's Asia, Latam presence: paper
• RIM considers splitting business in two: paper
• Morgan Stanley dragged into Brazil bank fight: report
• PDVSA turns to traders to sustain Ecuador oil deal
• BMW, Toyota eye close partnership: Der Spiegel
• NatWest opens on Sunday as IT glitch causes chaos
• Analysis: Politics cloud fate of South Africa's Telkom
• Credit Suisse may bring forward CoCo bond sale: paper
• Greek EU/ECB/IMF "troika" postpones Athens visit
• MPS in talks to issue 1 billion euros of government-backed bonds: sources
• Elbit Systems wins $62 million Korean Air Force contract
• KKR raises $3 billion for second Asia fund
• Greece outlines plan to ease bailout burden
• MPS to sell Biverbanca stake for $251 million: sources
• Hooters-style restaurants experiencing a mini-boom
• Stockton faces end of mediation, weighs bankruptcy
• Tropical storm warnings issued in La., Ala., Fla.
• Central bank group: Crisis fixes still needed
• Expanded Vegas airport aiming to tap more traffic
• Tropical Storm Debby strengthens off Gulf
• Greek PM cannot attend EU summit due to surgery
• Blair: Germany must underwrite eurozone debts
• Court keeps upcoming health care decision secret
• Greek PM cannot attend EU summit

Greek PM to miss EU summit, "troika" postpones trip Posted: 24 Jun 2012 07:57 AM PDT ATHENS (Reuters) - Greece's new prime minister and incoming finance minister, who have been ill, will miss this week's EU summit when Athens will propose easing the terms of its bailout and international lenders have had to postpone a first meeting with the team. Prime Minister Antonis Samaras underwent eye surgery on Saturday and Vassilis Rapanos is in hospital after suffering from nausea, intense abdominal pains and dizziness on Friday before he could be sworn in as finance minister. ...

Stop asking for more help, Germany tells Greece Posted: 24 Jun 2012 08:59 AM PDT BERLIN (Reuters) - Greece's new government should stop asking for more help and instead move quickly to enact reform measures agreed to in return for previous bailouts from its European partners, German Finance Minister Wolfgang Schaeuble said on Sunday. Schaeuble told Bild am Sonntag in unusually blunt language that Greece has forfeited much of Europe's trust during the sovereign debt crisis, as reflected in an opinion poll covering the euro zone's four biggest nations and published in the paper. ...

Julius Baer eyes BofA's Asia, Latam presence: paper Posted: 24 Jun 2012 04:38 AM PDT BASEL, Switzerland (Reuters) - Julius Baer , in talks with Bank of America about buying Merrill Lynch's non-U.S. wealth management unit, is particularly interested in its presence in Asia and Latin America, Chief Executive Boris Collardi told a newspaper. Asked by Swiss newspaper NZZ am Sonntag what was attractive about this deal, Collardi was quoted as saying: "The strong presence in Asian and Latin American growth markets would be interesting." But he said they were still in the middle of talks and that the outcome was "at this stage completely open". ...

RIM considers splitting business in two: paper Posted: 24 Jun 2012 07:26 AM PDT LONDON (Reuters) - BlackBerry maker Research in Motion is considering splitting its business in two, separating its struggling handset manufacturing division from its messaging network, The Sunday Times reported. RIM, which last month said it had hired JP Morgan and RBC Capital to look at its strategic options, could break off its handset division into a separate listed company or sell it, the British newspaper reported without citing sources. ...

Morgan Stanley dragged into Brazil bank fight: report Posted: 24 Jun 2012 08:56 AM PDT SAO PAULO (Reuters) - Brazilian authorities want investment banking giant Morgan Stanley to return about 113 million reais ($54 million) associated with a stock sale by shareholders of troubled lender Banco Cruzeiro do Sul, which was seized by the central bank this month, Folha de S.Paulo newspaper reported Sunday. The share sale occurred in May, just two weeks before the central bank seized Cruzeiro do Sul and placed the mid-sized bank under the administration of banking insurance deposit fund FGC for 180 days after uncovering accounting irregularities. ...

PDVSA turns to traders to sustain Ecuador oil deal Posted: 24 Jun 2012 07:30 AM PDT CARACAS (Reuters) - Venezuelan state oil giant PDVSA has had to buy dozens of extra fuel cargoes from countries as far away as Estonia and Saudi Arabia to keep up its side of a 2008 oil supply deal with leftist ally Ecuador, according to traders and sales documents. In an examination of shipping data that highlights the practical risks of political trade deals, Reuters found that half the fuel Venezuela sent to Ecuador, which cannot process its own heavy crude, came from third countries, often via trading companies including Glencore. ...

BMW, Toyota eye close partnership: Der Spiegel Posted: 24 Jun 2012 06:50 AM PDT BERLIN (Reuters) - Bayerische Motoren Werke and Toyota Motor Corp are planning to expand cooperation beyond green car technology and diesel engines, Der Spiegel magazine reported on Sunday, without citing any sources. The German premium car maker agreed with the Japanese manufacturer last December to supply diesel engines to Toyota from 2014 in Europe and collaborate on lithium-ion battery research for electric cars. Both companies have since been exploring other fields for cooperation and have now agreed several projects, Der Spiegel said without being more specific. ...

NatWest opens on Sunday as IT glitch causes chaos Posted: 24 Jun 2012 08:36 AM PDT LONDON (Reuters) - British bank NatWest opened 1,200 of its branches on a Sunday for the first time in its history as it struggled to address massive disruption caused to millions of its customers by a computer systems failure earlier in the week. The bank, owned by part-nationalized Royal Bank of Scotland , opened the branches between 8.00 a.m. GMT (4.00 a.m. EDT) and 11.00 a.m. GMT, having already extended its opening hours on Saturday, drafting in more than 7,000 staff to deal with the crisis. ...

Analysis: Politics cloud fate of South Africa's Telkom Posted: 24 Jun 2012 05:35 AM PDT JOHANNESBURG (Reuters) - The future of South African telecommunications firm Telkom may depend on whether the left-leaning ruling African National Congress (ANC) trusts government more to build out internet infrastructure than the private sector. In a country with one of the world's highest ratios of income disparity, the ANC has argued that companies trying to maximize profits could overlook the millions of poor lacking services - including broadband internet connections. ...

Credit Suisse may bring forward CoCo bond sale: paper Posted: 24 Jun 2012 05:37 AM PDT ZURICH (Reuters) - Swiss bank Credit Suisse may shore up its capital by issuing 6 billion Swiss francs ($6.26 billion) of convertible bonds or CoCos ahead of schedule and will stick with current chief Brady Dougan in part because of a lack of alternatives, a Swiss newspaper reported on Sunday. Chief Executive Brady Dougan has come under pressure after the Swiss National Bank said earlier this month that Credit Suisse had not boosted its capital quickly enough. ...

Greek EU/ECB/IMF "troika" postpones Athens visit Posted: 24 Jun 2012 06:42 AM PDT ATHENS (Reuters) - Officials from Greece's 'troika' of international lenders have postponed a planned visit to Athens on Monday given that the country's new prime minister and incoming finance minister are in hospital, an EU official told Reuters on Sunday. The officials from the European Union, European Central Bank and International Monetary Fund had been expected to meet Prime Minister Antonis Samaras and incoming Finance Minister Vassilis Rapanos after last week's formation of a new coalition government. ...

MPS in talks to issue 1 billion euros of government-backed bonds: sources Posted: 23 Jun 2012 01:15 PM PDT MILAN (Reuters) - Italy's Banca Monte dei Paschi di Siena is negotiating with the Treasury and the Bank of Italy about issuing at least 1 billion euros of government-backed bonds to plug a capital shortfall, two sources close to the matter said on Saturday. If the Treasury and the Bank of Italy give the go-ahead, Italy's third biggest lender would become the country's first banks to resort to state help as the euro zone debt crisis deepens. "There are very close contacts with the Bank of Italy and the Treasury, although there is no final go-ahead," one of the sources said. ...

Elbit Systems wins $62 million Korean Air Force contract Posted: 24 Jun 2012 01:04 AM PDT JERUSALEM (Reuters) - Israeli defense electronics firm Elbit Systems has said it won a contract valued at $62 million to upgrade the Korean Air Force C-130 transport aircraft. The project will be carried out over four years in cooperation with aircraft manufacturer Korea Aerospace Industries, Elbit said in a statement. Under the deal, the C-130 aircraft will be installed with various types of advanced electronic systems, while Elbit will also convert the existing analogue cockpit to digital. ...

KKR raises $3 billion for second Asia fund Posted: 23 Jun 2012 09:29 AM PDT (Reuters) - Kohlberg Kravis Roberts, the private equity company, has raised more than $3 billion for its second Asia fund, according to a securities filing. Of that amount, $2.76 billion came from U.S. and non-U.S. investors, while $250 million has been committed by its general partners, KKR said in a filing dated June 22. The New York-based firm is setting up its first deals team in Singapore as the U.S. private equity firm seeks to invest about $1 billion in Southeast Asia through its second Asia fund, sources with knowledge of the matter told Reuters earlier. ...

Greece outlines plan to ease bailout burden Posted: 23 Jun 2012 07:29 AM PDT ATHENS (Reuters) - Greece wants tax cuts, extra help for the poor and unemployed, a freeze on public sector lay-offs and more time to cut its deficit under a plan likely to run into strong opposition at a European Union summit next week. The new coalition government's program, seen by Reuters on Saturday, reflected public pressure to ease the terms of a 130 billion euro ($163 billion) bailout saving Greece from bankruptcy but only at the cost of harsh economic suffering. ...

MPS to sell Biverbanca stake for $251 million: sources Posted: 23 Jun 2012 09:41 AM PDT MILAN (Reuters) - Italy's third-biggest lender, Banca Monte dei Paschi di Siena , has reached a deal to sell its 60 percent stake in a small unit for around 200 million euros ($251 million) as it races against time to plug a capital shortfall by end June. Two sources closed to the situation told Reuters on Saturday Cassa di Risparmio di Asti had agreed to buy Monte dei Paschi's stake in Piedmont lender Biverbanca. Monte dei Paschi's board was due to approve the deal on Monday together with a new business plan designed to shore up the Tuscan bank's financial strength. ...

Hooters-style restaurants experiencing a mini-boom Posted: 24 Jun 2012 08:55 AM PDT The waitresses at Twin Peaks wear skimpy plaid tops that accentuate their chests. In case you didn't catch the joke, the chain's logo is an image of two pointy, snow-capped mountains. And the sports bar doesn't stop there: It promises "scenic views."

Stockton faces end of mediation, weighs bankruptcy Posted: 24 Jun 2012 08:51 AM PDT Stockton, the California city with the nation's second-highest foreclosure rate, is facing a moment of decision on whether to become the biggest city to file for bankruptcy, as a deadline for talks between the city and its creditors approached late Monday.

Tropical storm warnings issued in La., Ala., Fla. Posted: 24 Jun 2012 08:49 AM PDT A tropical storm warning was issued Sunday for Alabama to the Florida Panhandle as Debby lashed parts of the Gulf Coast with wind and rain.

Central bank group: Crisis fixes still needed Posted: 24 Jun 2012 08:33 AM PDT Governments, banks and households struggling with too much debt are dragging down the world's economy and more needs to be done to make the banking system safer, a global organization of central banks warned Sunday.

Expanded Vegas airport aiming to tap more traffic Posted: 24 Jun 2012 08:20 AM PDT With the arrival of an overnight flight from London this week, Las Vegas will mark the opening of a $2.4 billion airport terminal that officials say could help lift the southern Nevada economy from the depths of the Great Recession.

Tropical Storm Debby strengthens off Gulf Posted: 24 Jun 2012 08:16 AM PDT A tropical storm warning was issued Sunday for Alabama to the Florida Panhandle as Debby lashed parts of the Gulf Coast with wind and rain.

Greek PM cannot attend EU summit due to surgery Posted: 24 Jun 2012 07:29 AM PDT Greece's new prime minister will not be well enough to travel to a critical EU summit in Brussels after undergoing an eye operation, the government said Sunday.

Blair: Germany must underwrite eurozone debts Posted: 24 Jun 2012 06:47 AM PDT Former British Prime Minister Tony Blair said Saturday that the euro will only survive if Germany underwrites the debts of the eurozone's financially struggling members.

Court keeps upcoming health care decision secret Posted: 24 Jun 2012 05:00 AM PDT It's the biggest secret in a city known for not keeping them.

Greek PM cannot attend EU summit Posted: 24 Jun 2012 03:18 AM PDT Greece's new Prime Minister Antonis Samaras will not be well enough to travel to a critical European Union summit in Brussels after undergoing an eye operation, the government said Sunday.

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