Forex / Business news

WARSAW (Thomson Financial) - Polish Prime Minister Jaroslaw Kaczynski reiterated that an upcoming EU conference must set down rules allowing a minority of member states to put a brake on bloc-wide decisions for two years.Poland has repeatedly expressed concerns that a text adopted after a marathon EU meeting in Brussels last month on a new reform treaty only referred to "a reasonable delay"...

MILAN (Thomson Financial) - The Italian government is caught in a crossfire between the radical wing of the leftist coalition and the liberals of the centre-left, who both threaten to vote against a much-awaited proposed pension reform, putting the current government at risk, daily La Stampa reported...

FRANKFURT (Thomson Financial) - The German government is considering expanding its right to veto acquisitions of local firms by foreigners to include sectors such as railway, energy and telecommunication, Frankfurter Allgemeine Zeitung said, citing unidentified government sources...

BRIDGETOWN, Barbados (AP) - Caribbean leaders called for implementation of an existing law that would make it easier for skilled workers to seek employment throughout the region, hoping to bolster a sagging economy.Leaders from 11 countries are meeting privately through Wednesday in Barbados as part of the Caribbean Community's midyear summit...

GUATEMALA CITY, Guatemala (AP) - Tens of millions of dollars pouring into Olympic bid campaigns. PR companies, lobbyists and spin doctors working frantically. Rumors of dirty tricks swirling behind the scenes.Intrigue was rampant on Monday in the final 48 hours before the vote on the host city for the 2014 Winter Olympics, leading some senior International Olympic Committee officials to say that the bidding process has gotten out of control and needs to be curbed...

PARIS (Thomson Financial) - Prime Minister Francois Fillon said the government intends to "aim towards" raising its spending on research projects to 3 pct of GDP, in line with a key manifesto pledge by President Nicolas Sarkozy.Filon told parliament in a general policy declaration that as part of this aim 5 bln eur will be invested as an "absolute priority" in universities by 2012...

LONDON (Thomson Financial) - A leading UK private equity boss claims the industry is at the top of the market and is likely to face a crisis similar to that seen in the US subprime market.Appearing before the influential Treasury Select Committee, Jon Moulton, managing partner of Alchemy, said the US subprime market is a very good "prototype" for the private equity industry as it is financed in the same way...

BRUSSELS (Thomson Financial) - The EU's top justice official has urged the 27 member states to collect and exchange information about air travellers to better combat "terrorist plots".EU justice commissioner Franco Frattini said he would propose formal legislation in October to create a European passenger name record (PNR) system, similar to the one used in the US...

FRANKFURT (Thomson Financial) - New car registrations in Germany this year are forecast at 3.2 mln units, the automotive industry association VDA said, cutting its previous forecast of 3.3 mln units.In June, new car registrations declined 7 pct to 301,00 units year on year...

LOS ANGELES (AP) - Federal prosecutors describe George Torres as a discount don who murdered his rivals, intimidated his employees and bribed public officials to expand his supermarket chain.Torres, owner of 11 Numero Uno markets in poor Los Angeles neighborhoods, pleaded not guilty Monday was ordered held without bail in a case that also implicates former civic officials...

MILWAUKEE (AP) - Hall of Fame pitcher Rollie Fingers was removed from the state's list of its largest tax delinquents.Two of three cases filed against Fingers by the state Department of Revenue have been satisfied, according to documents filed in Dane County Circuit Court...

LONDON (Thomson Financial) - Consumer spending on credit and debit cards in the UK hit a new record last year, confirming plastic cards' status as the country's preferred means of payment, according to new figures from payment services association APACS...

BRUSSELS (Thomson Financial) - The European Commission said it has opened infringement proceedings against Portugal over its anti-fraud legislation.The commission said that certain Portuguese anti-fraud provisions do not comply with the EU legislation on the movement and holding of goods subject to excise duties, since they introduce a burden on traders that is disproportionate...

WASHINGTON (AP) - U.S. factory order data for May are forecast to show a decline for the first time since January due to unusually low demand for aircraft and other heavy machinery.The U.S. Commerce Department data, due out Tuesday at 10 a.m. EDT, are expected to show that orders for big-ticket and less expensive items fell by 1...

LONDON (Thomson Financial) - People involved in insider trading should be granted immunity if they provide authorities with hard evidence, the head of the UK's financial regulator said.Making his leaving speech as chief executive of the Financial Services Authority, John Tiner said the FSA needs tools such as offering immunity in order to make prosecutions stick in cases of market abuse...

LONDON (Thomson Financial) - The UK's financial regulator will this week sound a warning over the country's subprime mortgage market, which lends to people with poor credit records, the Financial Times said without citing sources.The newspaper said the Financial Services Authority will criticise both lenders and brokers when it publishes the results of its investigation into the mortgage market...

PARIS (Thomson Financial) - Talks between France and Germany over the future of EADS have been focusing on ways to end the dual governance structure, and an announcement should be made on July 16 when Nicolas Sarkozy and Angela Merkel meet in Toulouse, Les Echos reported without indicating sources...

BRUSSELS (Thomson Financial) - The European Commission will unveil a reform package for the insurance industry known as Solvency II next week which changes the way companies are regulated and makes firms more competitive internationally, said the Financial Times...

LONDON (Thomson Financial) - European government bonds stayed well bid, helped by the euro's surge to a two- month high against the dollar.The day's economic data went by hardly noticed with the manufacturing sector surveys from both sides of the Atlantic having only a muted impact...

MADRID (Thomson Financial) - The separation of European energy producers from crucial distribution networks is "totally necessary", the head of the International Energy Agency (IEA) said."Efficient unbundling is totally necessary," Claude Mandil told a news conference in Madrid...