Euro zone set for drawn-out battle over banking rules
BRUSSELS (Reuters) – Euro zone finance ministers face difficult talks over their plans for a banking union on Tuesday, including how to pay for the winding up of troubled banks, a deeply divisive issue on which Germany has dug in its heels.
U.S. drops royalty hike plan for some drilling; taxpayers hit: study
WASHINGTON (Reuters) – U.S. taxpayers will forgo more than $1 billion in revenue in the next decade now that officials have dropped plans to increase royalty rates for drilling on federal land, a report released on Tuesday concluded.
Nissan targets Russia’s first-time car buyers with resurrected Datsun
MOSCOW (Reuters) – Japan’s Nissan Motor Co is to unveil its resurrected Datsun brand in Russia in April, seeking to lure young first-time buyers away from the used car market to its sub-400,000 rouble ($12,100) model.
Omnicom, Publicis to win EU okay for $35 billion merger
BRUSSELS (Reuters) – Omnicom and Publicis will win unconditional European Union regulatory approval for their $35.1 billion merger to create the world’s biggest advertising agency, two people familiar with the matter said on Tuesday.
Greece to receive 1 billion euros in euro zone funding this week
BRUSSELS (Reuters) – The euro zone will send Greece 1 billion euros ($1.4 billion) this week as part of its international bailout program, the head of the Eurogroup said on Tuesday.
Germany’s financial fire-fighter steps back, but for how long?
BERLIN (Reuters) – Leaving the spotlight of the European Central Bank for a back-office position in a German ministry that pays a fraction of the salary might look at first glance like professional suicide for Joerg Asmussen.
GSK to stop paying doctors in major marketing overhaul
LONDON (Reuters) – GlaxoSmithKline will stop paying doctors for promoting its drugs and scrap prescription targets for its marketing staff – a first for an industry battling scandals over its sales practices, and a challenge for its peers to follow sui…
German bank HSH sets aside $175 million for tax probe
FRANKFURT (Reuters) – German public sector lender HSH Nordbank confirmed it is setting aside 127 million euros ($175 million) to cover possible tax liabilities following an internal probe into suspected tax avoidance by clients.
Germany to propose Bundesbank deputy for ECB board seat
BERLIN (Reuters) – Germany will propose Sabine Lautenschlaeger, a vice president at the German Bundesbank, to take the board seat at the European Central Bank that is being vacated by Joerg Asmussen, according to two sources familiar with the matter.
Investors avoid EM, commodities, yen on bullish dollar view: BofA poll
LONDON (Reuters) – The number of investors who think the dollar is cheap has hit its highest level since August 2008, encouraging asset managers to avoid emerging market assets, commodities and the yen, a survey showed on Tuesday.
