UPDATE 1-Vodafone to receive EU warning over $22 bln Liberty deal -sources

FILE PHOTO: Logos of 5G technology and telecommunications company Vodafone at the company’s 5G Mobility Lab in Aldenhoven, Germany, November 27, 2018. /Thilo Schmuelgen/File PhotoBRUSSELS () – Vodafone will receive a warning from EU regulators about possible anti-competitive effects from its $22 billion deal to buy Liberty Global’s German and eastern European assets, two people

Fund managers turn up heat on UK companies over diversity, pensions, audit

LONDON () – Britain’s big public companies will face a grilling by asset managers over their track record on diversity, excessive pension payouts to bosses and poor quality audits when they hold annual shareholder meetings over the coming weeks. A committee of 15 asset managers at the Investment Association has picked the three issues that

U.S. stock funds net largest gain since March ’18

By David Randall NEW YORK, March 20 () – U.S. domestic stock mutual funds and exchange-traded funds grabbed their largest net inflows since March 2018 last week as progress on trade talks between the United States and China pushed the benchmark S&P 500 index to its best week of the year so far. Overall, investors

Britain’s Peel Ports expands amid Brexit trade uncertainty

* Peel Ports has a network of seven British ports * Brexit could clog up busy southern ports * Liverpool investment opens port to bigger ships By Jonathan Saul LONDON, March 20 () – Privately owned Peel Ports is expanding its workforce mostly in Liverpool and plans acquisitions this year, its chief executive said, as

UPDATE 4-Billionaire Indian remanded in custody after London court appearance

LONDON/NEW DELHI () – Fugitive billionaire jeweler Nirav Modi, wanted by Indian authorities over a $2 billion loan fraud at state-run Punjab National Bank (PNB) was remanded in custody after appearing before a British court on Wednesday. FILE PHOTO: A demonstrator holds an effigy depicting billionaire jeweller Nirav Modi during a protest in Kolkata, India,

TREASURIES-Yields drop with Fed meeting results imminent

NEW YORK, March 20 () – U.S. Treasury yields fell modestly on Wednesday as the Federal Reserve, which is winding up a two-day policy meeting, was expected to hold interest rates steady, trim the number of hikes projected for the rest of the year, and release details of a plan to end the monthly reduction

Munich Re aims to boost Ergo insurance business via acquisitions

MUNICH, March 20 () – Munich Re has no plans to sell Ergo, its primary insurance arm, and aims to strengthen this business through acquisitions once its turnaround has been completed in two years, Chief Executive Joachim Wenning said on Wednesday. Ergo has been battling high costs and low margins and has sold off 13

UPDATE 1-U.S. vaping products supplier Greenlane files for IPO

() – Vaping products supplier Greenlane Holdings Inc filed for an initial public offering with U.S. regulators on Wednesday, in the backdrop of both growing investor interest and rising regulatory scrutiny into the e-cigarette industry. Greenlane sells vaping products and accessories to over 6,600 independent smoke shops, regional retail stores and a number of licensed

UPDATE 2-Shareholder vote clears way for Fridman bid for Spain’s DIA

MADRID () – Shareholders in Spain’s DIA backed a rescue plan for the faltering supermarket chain on Wednesday in a vote which clears the way for Russian tycoon Mikhail Fridman’s investment fund to proceed with a takeover bid. FILE PHOTO: Women walk past a store of Spanish discount grocer DIA in Las Rozas, near Madrid,

U.S. vaping products company Greenlane files for IPO

() – Vaping products supplier Greenlane Holdings Inc filed for an initial public offering with the U.S. Securities and Exchange Commission on Wednesday. The company intends to list itself on the Nasdaq under the symbol “GNLN,” it said in a regulatory filing. Greenlane set a placeholder amount of $92 million to indicate the size of

UPDATE 1-Romanian government plans to lower bank tax after criticism

(Adds details) BUCHAREST, March 20 () – Romania’s government could lower a bank tax to a range of 0.2-0.4 percent from 0.1-0.5 percent of banks’ financial assets based on their market share and may exempt some assets from the levy, Finance Minister Eugen Teodorovici said on Wednesday. The government said the tax, introduced in December

UPDATE 2-UBS sounds pessimistic note on 2019 as Q1 revenues fall

ZURICH () – UBS is to cut an extra $300 million in costs in 2019 after investment banking revenues plunged in the first quarter, Switzerland’s biggest bank said, sounding a pessimistic note about full-year prospects. FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Switzerland October 25, 2018. /Arnd WiegmannChief Executive Sergio

Britain’s May asks for Brexit delay until June 30

LONDON, March 20 () – British Prime Minister Theresa May said on Wednesday she had written to European Council President Donald Tusk to ask for an extension to the Brexit engotiation period until June 30 and that she was preparing for a third vote on her deal. “As prime minister, I am not prepared to

European stocks dip after 5-day rally; Bayer fall weighs on DAX

() – European shares retreated from near six-month highs on Wednesday, with German stocks leading losses as chemicals producer Bayer headed for its biggest fall in 16 years following a U.S. court verdict on weed killer Roundup’s link to cancer. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange

UK inflation up, London house prices fall by most since 2009

LONDON () – Britain’s main inflation rate ticked up last month but stayed close to January’s two-year low, helping consumers maintain their spending power as wage growth also picked up, even though the timing of Brexit remained uncertain. FILE PHOTO – New residential homes are seen at a housing estate in Aylesbury, Britain, February 7,

UPDATE 1-Italy looks to issue Panda bond as Xi Jinping visits Rome

* Italy might get go-ahead to issue “Panda” bonds * Numerous commercial accords set for Xi visit * Italy government moves to defend 5G network (Adds Xi comment, Italy protecting its 5G network) By Stefano Bernabei ROME, March 20 () – Italy is looking to build on its economic and commercial ties with China by

Trillion pounds of assets leave London ahead of Brexit – EY

Banks and offices create a skyline in the Canary Wharf financial district in London October 21, 2010. /Luke MacGregor LONDON () – Assets worth around a trillion pounds are moving from London to hubs in the European Union ahead of Brexit, with the parallel shift in jobs likely to top 7,000, consultants EY said on

UK inflation ticks up, house prices in London fall by most since 2009

LONDON () – Britain’s main inflation rate ticked up last month but stayed close to January’s two-year low, helping consumers maintain their spending power even as Brexit remained uncertain. Houses are seen in London, Britain January 19, 2017. /Stefan WermuthWednesday’s official data also showed house prices rose at the weakest annual pace seen in five-and-a-half

CORRECTED-European stocks dip after 5-day rally

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, March 1, 2019. /Staff() – European shares retreated from near six-month highs on Wednesday, with German stocks leading losses as chemicals producer Bayer sank 10 percent following another U.S. court verdict on weed killer Roundup’s link to

HK stocks close weaker on trade war jitters, Fed caution

* Hang Seng lost 0.2 pct, H-shares down 0.5 pct * Fed decision pending, caution in global markets * Beijing and Washington to resume trade talks HONG KONG, March 20 () – The Hong Kong stock market ended lower on Wednesday as investors kept a cautious stance ahead of the U.S. Federal Reserve’s policy decision

European stocks dip after 5-day rally

(For a live blog on European stocks, type LIVE/ in an Eikon news window) March 20 () – European shares retreated from near six-month highs on Wednesday, with German stocks leading losses as chemicals producer Bayer sank 10 percent following another U.S. court verdict on weed killer Roundup’s link to cancer. With eyes on a