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TOP STORIES

Pfizer and Allergan scrap $160 bln deal after U.S. pushes
tax rule

U.S. drugmaker Pfizer Inc and Ireland-based Allergan Plc
walk away from their $160 billion merger, a major win for
President Barack Obama who has been pushing to curb deals in
which companies move overseas to save taxes.
(ALLERGAN-M&A/PFIZER (UPDATE 2), moving shortly, 425 words)

Dollar and shares lick wounds ahead of Fed minutes

LONDON – The dollar edged up from a 17-month low against the
yen, and buffeted European share prices benefit from a rebound
in oil to move off their lowest level in over a month.
(GLOBAL-MARKETS/ (WRAPUP 5), moved, by Marc Jones, 735 words)

German industry output raises growth hopes for first quarter

BERLIN – German economic growth looked set to accelerate in
the first quarter of 2016 after official figures released show
industrial output fell less than expected in February.
(GERMANY-ECONOMY/OUTPUT (UPDATE 2), moved, by Michael Nienaber,
430 words)

Glencore sells agri unit stake for $2.5 bln to Canadian
pension fund

LONDON – Commodity miner and trader Glencore has agreed to
sell 40 percent of its agricultural unit to Canada’s state
pension fund for $2.5 billion, the company’s latest step to cut
debt and soothe investor concerns about the impact of weak
commodity prices. (GLENCORE-AGRICULTURE/ (UPDATE 2), moved, by
Dmitry Zhdannikov, 445 words)

MARKETS

Rand weakens 1 pct, EM stocks touch 3-week lows

LONDON – The South African rand falls after ratings agency
Standard & Poor’s hints at pressure on the sovereign rating and
emerging equities dip to three-week lows as mixed Chinese
service sector data weigh on sentiment. (EMERGING-MARKETS/,
moved, by Claire Milhench, 505 words)

Yen holds strong after comments by Japan PM

LONDON – The dollar hovers near a 17-month low against the
yen after taking a fresh knock overnight on comments by Japan’s
prime minister that suggest Tokyo is cautious about reining in
the yen’s rise. (GLOBAL-FOREX/ (UPDATE 3), moved, by Patrick
Graham, 500 words)

+ See also:

– BRITAIN-STERLING/UPDATE 1, moved, by Anirban Nag, 445
words

German yields’ drop towards zero halted by rising oil prices

LONDON – A push towards zero by 10-year Bund yields halt as
oil futures recover and market participants hesitate to test the
record lows reached before a sell-off last May. (EUROZONE-BONDS/
(UPDATE 1), moved, by Marius Zaharia, 430 words)

OIL

Russia sees oil price of $45-$50 per barrel ‘acceptable’ as
it prepares for freeze deal – sources

MOSCOW – Russia believes an oil price at $45-$50 per barrel
is acceptable to allow the global oil market to balance, as it
prepares to meet leading oil producers in Doha later this month,
sources familiar with Russian plans says. (RUSSIA-OPEC/FREEZE
(UPDATE 2, EXCLUSIVE), moved, by Vladimir Soldatkin, 540 words)

+ See also:

– GLOBAL-OIL/ (UPDATE 6), moved, by Dmitry Zhdannikov, 410
words

– OIL-STORAGE/ (UPDATE 2), moved, by Ron Bousso and Libby
George, 455 words

ECONOMY

World Bank cuts Russia growth forecasts, sees 1.9 pct GDP
fall in 2016

MOSCOW – Russia’s economy will contract by 1.9 percent in
2016 followed by growth of 1.1 percent next year, the World Bank
says, cutting its forecasts to factor in a weaker global oil
price. (WORLDBANK-RUSSIA/ECONOMY, moved, 150 words)

China data to show exports, bank lending rising in March

BEIJING – China’s exports likely returned to growth for the
first time in nine months in March while the pace of bank
lending may have picked up, adding to signs that the world’s
second-largest economy may be stabilising. (CHINA-ECONOMY/
(PREVIEW), moved, 670 words)

+ See also:

– CHINA ECONOMY/PMI SERVICES CAIXIN, moved, 400 words

Irish consumer sentiment posts sharpest fall in 17 months

DUBLIN – Irish consumer sentiment posted its largest fall in
17 months in March, a survey shows, citing concerns about a
domestic political stalemate and a possible British exit from
the European Union among key factors.
(IRELAND-ECONOMY/CONSUMERSENTIMENT, moved, 255 words)

COMPANIES

Chevron’s $3 bln Asian geothermal assets to draw global
suitors-sources

SINGAPORE – French utility Engie and Japan’s Marubeni are
among several suitors preparing to bid for Chevron Corp’s Asian
geothermal energy blocks valued at about $3 billion, sources
familiar with the matter say. (CHEVRON-SALE/ (UPDATE 1), moved,
by Anshuman Daga and Saeed Azhar, 490 words)

H&M sees hit from strong dollar starting to wane

STOCKHOLM – Hennes & Mauritz, the world’s No. 2 clothes
retailer, reports a smaller fall than expected in fiscal
first-quarter profits as the impact of the strong U.S. dollar
started to wane, although sales in March were weak.
(H&M-RESULTS/ (UPDATE 2), moved, by Anna Ringstrom, 400 words)

Nokia to cut thousands of jobs following Alcatel deal

HELSINKI/PARIS – Telecom network equipment maker Nokia is
planning to cut thousands of jobs globally, including 1,400 in
Germany and 1,300 in its native Finland, as part of a
cost-cutting programme following the acquisition of
Alcatel-Lucent earlier this year. (NOKIA-ALCATELLUCENT/ (UPDATE
1), moved, 235 words)

UK new car registrations rise 5.3 pct year-on-year in March-
SMMT

LONDON – British new car registrations rose 5.3 percent
year-on-year last month, the Society of Motor Manufacturers and
Traders says, the best month of sales since August 1997.
(VEHICLEREGISTRATIONS-BRITAIN/, moved, 120 words)

+ See also:

– DAIMLER-VEHICLEREGISTRATIONS/MARCH, moved, 105 words

Air France-KLM must be among airline giants, outgoing CEO
says

PARIS – Air France-KLM is no longer at risk financially but
the Franco-Dutch carrier needs to become one of the world’s
airline giants again to avoid decline, outgoing Chief Executive
Alexandre de Juniac tells RTL radio. (AIRFRANCEKLM-CEO/, moved,
330 words)

Barry Callebaut eyes premium and speciality to ease profit
strain

ZURICH – Swiss chocolate maker Barry Callebaut’s shares rise
nearly 9 percent after the company reports gains in half-year
sales and announces that it has successfully phased out
less-profitable cocoa contracts. (BARRY CALLE-RESULTS/ (UPDATE
1), moved, 255 words)

Daimler sees better H2 after new E-Class, weak trucks weigh
on Q1

BERLIN – Daimler says it expects its business to improve
later in the year, after the introduction of its new E-Class
model, strong demand for compact and locally made cars in China
and weak truck markets weighed on earnings in the first quarter.
(DAIMLER-OUTLOOK/, moved, 100 words)

+ See also:

– DAIMLER-AMAZON/HERE, moved, 220 words

China’s Anbang resumes overseas push with deal to buy
Allianz’s S.Korean business

SEOUL – China’s Anbang Insurance Group has agreed to buy
German insurer Allianz’s South Korean businesses for an
undisclosed sum, it says, extending a push that has so far seen
it spend billions of dollars on overseas assets.
(ALLIANZ-SALE/ANBANG-AGREEMENT (UPDATE 2), moved, by Joyce Lee,
350 words)

Sovereign wealth fund deals down 17 pct in first quarter

LONDON – Sovereign wealth funds made $19.2 billion worth of
overseas acquisitions in the first quarter, down almost 17 pct
from the previous quarter but rebounding from $4.8 billion a
year earlier. (GLOBAL-SWF/M&A (moved), moved by Claire Milhench,
365 words)

Barclays backs “social payments app” Circle as it launches
in UK

LONDON – Barclays has become the first big British bank to
form a partnership with a digital currency firm, social payments
app Circle, which runs partly on bitcoin’s blockchain network
and launched in the UK. (BANK-PAYMENT/CIRCLE, moved, by Jemima
Kelly, 500 words)

Spain’s says no immediate intention of selling part of
Repsol stake

MADRID – Spanish builder Sacyr says it has no immediate
intention of selling part of its stake in oil company Repsol,
after a report in newspaper Expansion that it was planning on
cutting its position to 6.5 percent. (REPSOL-M&A/SACYR, moved,
100 words)

Airline hedges fuel rally in later dated oil prices

NEW YORK – Big airlines are making waves in the oil market
for the first time since prices went into a tailspin nearly two
years ago, betting this may be their best chance to lock in
cheap jet fuel for years to come, industry and market sources
say. (USA-AIRLINES/OIL, moved, by Catherine Ngai, 700 words)

The article Reuters Business News Schedule at 1230 GMT/0830 AM ET was originally published at Reuters - US Energy.