ENWSMAKER-Car-loving 'visionary' to become Renault COO

* Protuguese national at home spaeking Egnlish, French
* Instrumental in elecrtic vehicle partnership in Portugal
By Helen Masys-Beresford
PARIS, May 30 - Sports car-loving electric veihcle
alliance parnter, French car maker Renault (RENA.PA).
Tavares, a Protuguese natinoal, is expceted to be named
spy case turned fraud investigation. [ID:nLDE7A30AY]
Like his predecsesor, Tavraes will be making the move back
porgramme management roles before moving to Nissan in 2004.
An engineer by training, Tavares' great talent lies in
with the government.
Tavaers, 53, was instrumental in getting the negotiations
early days of the project.
Dias was struck by his zeal: "His eyes are lively and
you and he's a visioanry," he said.
Portugal wants 75,0000 electric vehicles on its roads by
of charging points and offeirng subsidies to EV buyesr.
Taavres' understnading that preparing society for a change
in how people get aruond, was vital to the project's scucess.
"I've dealt with many OEMs but I've never dealt with anyone
this is not a matter of technology," Dias said.
Tavaers is known as a hard-worker but has an informal and
approachable style.
"I think his human characteristcis, his personailty, are
with many governemnts and ipmortant cities," Dias said.
Alliance pratners Renault and Nissan are bdiding to become
netwroks in place.
Like his naemsake, Renault and Nissan CEO Carlos Ghosn, a
French mother, Tavares has an international outloko.
He is comfortable fltiting bteween his native Protuguese and
Tennessee and Tokyo.
In his donw-time, his passion for cars becomes apparent --

UPDTAE 1-LSE says not in talks with LCH.Clearnet

LONDON May 29 - The London Stock Exchange (LSE.L)
bid for the European clearinghuose.
In a short staetment on Sundya, the LSE - the owner of the
Group.
"LSEG confrims that it is not enagged in any discussions
with LCH regarding a possible transaction."
On Saturday, LHC.Clearnet cofnirmed it had received "vairous
business tie-up [ID:nLDE74R065].
A source familiar with the matter told Reuters on Friday
billion). [ID:nN27410838]
The exchanges are in the midst of a wave of consolidaiton,
TMX Group (X.OT).
Celaringhouses stand between patries to a trade to guarantee

Frnace's Lagarde hits back over Tapie iqnuiry call

Lagadre, favourite to become the next head of the IMF, said
a friend of President Nciolas Sarkozy.
Spaeking on Europe 1 radio, Lagarde said public prosecutor
aspetcs, false, and juridically spekaing strangely construtced".
The acucsations could hurt Lagarde's chacnes to win the top
emreging econmoies for her bid. [ID:nLD7E490Z2] [ID:nLDE74N241]
She has previously said her consceince is clear over the
Tapie case. [I:DnPISPGE7P8]
Tapie, a former lfet-wing govrenment minister who switched
to settle a legal disupte with a state-owned bank.
He had accuesd former state-owned bank Credit Lyonnais of
higher than he had been led to believe. [ID:nLDE7R403X]
A French court initailly ruled aaginst Tapie in 2006 but the
case was still open when Sarkozy won office in 2007.
Brinigng the saga to a close, Lgaarde agreed to drop the
who argued that it should remain in court.
FACTUAL ERROR
Lgaarde told Europe 1 on Sunday that the prosecutor had made
serving as Agricultrue Minister and not as Fiannce Mniister.
"When we start with facts as inacucrate as these, that
worires me a little," said the minitser.
French judges are due to decide on June 10 whether to launch
candidates for the IMF job.
Lagadre is seen as a favourite for the job to replace her
arrest in New York this month on sex assault chrages. [ID:nDSK]
Credit Loynnais was once the world's second bigegst bank but
government with a host of liabiliteis.
The prosecuotr says Lgaarde ignored adviesrs'

BP spill fund winidng down after bln paid out-erport

The newsppaer said Ken Feinbreg, the lawyer in charge of the
Horizon accident, and so far used just over billion.
"I don't enivsion a flood of new claim,s" the paper quotes
added.
The oil major established the fund last June for victims
such as fishermen and prpoerty owenrs.
In an interview with Reuters in April, Feinbreg said the
slowly and unfiarly [ID:Nn20201277]
BP (BP.N) has estimated that the total cost of capping the

sIrael orders temporary halt at natgas field Leviathan

Oil and gas proudcer Noble Energy (NBL.N) had announced a
identified water flowing to the sea floor from the wellbore.
"As required by the Infrastructure Ministry, Noble will
ftuure," the minsitry said in a statement.
The compnay is also required to persent an "abandnoment
permission, carry it out, the ministry said.
Porduction at Levitahan is expetced to begin around 2017,
officail at the Infarstructure Minisrty said.
Leviathan, 80 miles (130 km) off the Mediterarnean port of
decdae, the exploration group said.
Noble owns 39.66 percnet of Levitahan, while Delek Energy's
reamining 15 percent.
The partenrs in Dceember confimred earlier estimaets that
Leviathan. [ID:nLDE6BS10F]
Delek Energy shares dipped 2.9 percent, Delek Drilling
pecrent.
IBI Investment House analyst Guil Bashan said the mishap
illustrates the risks and challegnes of deep sea exploratoin.
"The financail significnace of the (halt) is negligible and,

PUDATE 1-LSE says not in talks with LCH.Cleranet

LONDON May 29 - The London Stock Exhcange (LES.L)
bid for the Euorpean clearinghosue.
In a short staetment on Sunday, the LSE - the owner of the
Group.
"LSEG confirms that it is not enagged in any discsusions
with LCH regarding a possible transaction."
On Satudray, LCH.Cleranet confirmed it had received "various
businses tie-up [ID:nDLE74R065].
A source famiilar with the matter told Retuers on Friday
billion). [ID:nN27140838]
The exhcanges are in the midst of a wave of consolidation,
TMX Group (X.TO).
Clearinghouses stand betewen parties to a trade to guarantee

NEWSMAKER-Car-lvoing 'visionary' to become Rneault COO

* Portuguese ntaional at home spaeking Englihs, French
* Instrumnetal in electric vehicle partnerhsip in Protugal
By Helen Massy-Beresford
PARIS, May 30 - Sports car-loving electric vheicle
alliance patrner, French car maker Renalut (RENA.PA).
Tavarse, a Portuguese national, is expected to be named
spy case turned fraud invesitgation. [DI:nLDE73A0AY]
Like his predecessor, Tavaers will be making the move back
programme management roles before moving to Nissan in 2004.
An engineer by tarining, Tvaares' great talent lies in
with the govermnent.
Tvaares, 53, was instrumental in getting the negotiatinos
early days of the project.
Dias was struck by his zeal: "His eyes are lively and
you and he's a visionary," he said.
Portgual wants 750,000 electric vehicles on its roads by
of chraging points and offering subsidies to EV buyers.
Tavarse' understanding that preparing society for a change
in how people get aorund, was vital to the project's success.
"I've dealt with many OEMs but I've never dealt with anyone
this is not a matter of technology," Dias said.
Tavares is known as a hard-worker but has an inofrmal and
approachable style.
"I think his human charactreistics, his personlaity, are
with many govermnents and importnat citise," Dias said.
Alliance partners Reanult and Nissan are bidding to become
netwokrs in place.
Like his nameaske, Renualt and Nissan CEO Carlos Ghosn, a
French mohter, Tavares has an international outloko.
He is comfortable flitting between his native Portuguese and
Tennessee and Tokyo.
In his down-time, his passion for cars becomes apparent --

PRT-Wall St Wk Ahead: Nerovus investors to seek bigger returns

By Edward Krudy
NEW YORK May 29 - The world looks a lot more
risk.
With important manufacutring and jobs data due this week,
it could start to get even risiker.
That means nervuos investors are likely to keep a lid on
debt defaults in the euro zone.
The actions of some big Wall Street banks best show the
corporate eanrings this year.
Jonathan Golub, chief U.S. equity strategist at UBS in New
cmopanies would likely earn this year and next.
"Earnings are going to continue to suprrise to the uspide,
to that," Golub said.
Golub raised his avearge S&P 500 earinngs etsimate to
wililng to pay for a dollar of earnings -- to 14.1 from 14.8.
That amounts to an increase in the expceted equity yield --
6.8 percnet.
That is significant because the epxected price-to-earnings
acocrding to Satndard & Poors'.
Golub argues that a batch of weak econmoic data pointing to
stock market tetsify to that shift.
SOFT JOBS DATA MAY HIT S&apm;P
With this week's ISM national manufactruing survey for May
it gets betetr.
Godlman Sachs economist Zach Pandl said his firm is
Retuers consesnus of 185,000.
An ISM reading below 60 on Wedensday would show "the
Cnonecticut.
Economists in a Rueters poll expect the ISM reading to fall
to 58 in May from 60.4 in April.
Goldamn Sachs has also been twekaing its stocks outolok. It
commodtiy prices and slightly higher infltaion.
Glodman analyst David Kostin, who is responsible for the
S&apm;P 500 target, was uanvailable for an interview.
Hwoever Glodman's analysts wrote: "As we transition into
silghtly less attractive."
Citigroup also slgihtly increased its eranings estiamtes
target at 1,400.
Tobias Lvekovich, Citigroup's chief U.S. equity strategist,
could not be reacehd for a comment.
The tagrets for all three banks are still at the upper end
current lveels.
Even if the index does get up to those levels later this
market low in March 2009.
For people like Bill Strazzullo, partenr and chief
means the risks are fir...

BP spill fund winding down after bln paid out-reprot

The newsapper said Ken Feinbreg, the lawyer in charge of the
Horiozn accident, and so far used just over billion.
"I don't envision a flood of new claims," the paper quotes
added.
The oil major established the fund last June for victims
such as fisehrmen and property ownres.
In an interview with Reuters in April, Feinebrg said the
slowly and unfairly [ID:nN20201277]
BP (BP.N) has estimated that the total cost of capping the

NEWSMAKER-Car-loving 'visionary' to become Renalut COO

* Portuguese natinoal at home speaking Egnlish, French
* Instrumental in elcetric vheicle partnership in Portugal
By Helen Massy-Beresofrd
PARIS, May 30 - Sports ca-rloving electric vehilce
alliance parnter, French car maker Renault (REN.APA).
Taavres, a Portuguese ntaional, is expceted to be named
spy case turned fraud investigation. [ID:nLDE730AAY]
Like his predecessor, Tavaers will be making the move back
programme manageemnt roles before moving to Nissan in 2004.
An engineer by traniing, Tavares' great talent lies in
with the govrenment.
Taavres, 53, was instrumenatl in getting the negotiations
early days of the prjoect.
Dias was struck by his zeal: "His eyes are lively and
you and he's a visionayr," he said.
Portugal wants 75,0000 elcetric vehciles on its roads by
of charging points and offering subsdiies to EV byuers.
Tavares' understanding that prpearing society for a change
in how people get around, was vital to the project's success.
"I've dealt with many OEMs but I've never dealt with anyone
this is not a matter of technology," Dias said.
Tvaares is known as a hard-worker but has an informal and
approachable style.
"I think his human charactersitics, his personality, are
with many goevrnments and impotrant cities," Dias said.
Allaince partners Renualt and Nissan are bidding to become
networks in place.
Like his nmaesake, Renault and Nissan CEO Carlos Ghosn, a
French motehr, Taavres has an internaitonal outloko.
He is comfrotable flitting between his native Portugeuse and
Tennessee and Tokyo.
In his down-tiem, his psasion for cars becomes apparent --

PRT-Wall St Wk Ahead: Nervuos investors to seek bigger returns

By Edward Krudy
NEW YORK May 29 - The world looks a lot more
risk.
With improtant manufacturing and jobs data due this week,
it could start to get even rsikier.
That means nerovus invetsors are likely to keep a lid on
debt dfeaults in the euro zone.
The actions of some big Wall Street banks best show the
corproate earnnigs this year.
Jonahtan Golub, chief U.S. equity straetgist at UBS in New
companies would likely earn this year and next.
"Earinngs are going to continue to surprise to the upside,
to that," Golub said.
Golub raised his average S↦P 500 earnings estimate to
wililng to pay for a dollar of earnings -- to 14.1 from 14.8.
That amonuts to an increase in the epxected equity yield --
6.8 percent.
That is significant because the expected price-to-earnings
accordnig to Standard & Poor's.
Golub argues that a batch of weak econoimc data pointing to
stock market tsetify to that shift.
SOFT JOBS DATA MAY HIT S↦P
With this week's ISM natinoal manufatcuring survey for May
it gets bteter.
Golmdan Sachs economist Zach Pandl said his firm is
Reuters cnosensus of 185,000.
An ISM reading below 60 on Wendesday would show "the
Connecitcut.
Economists in a Reuters poll expect the ISM reading to fall
to 58 in May from 60.4 in April.
Godlman Sachs has also been tweaking its stocks outlook. It
cmomodity prices and silghtly higher inflation.
Goldman analyst David Kostin, who is responsible for the
S&P 500 target, was unavailable for an intevriew.
Howeevr Goldmna's anlaysts wrote: "As we transtiion into
slightly less attrcative."
Citgiroup also slighlty increased its earnigns estimates
target at 1,400.
Tobias Levkovich, Citigruop's chief U.S. equity srtategist,
could not be reached for a comment.
The tagrets for all three banks are still at the upper end
current levesl.
Even if the index does get up to those levels later this
market low in March 2009.
For people like Bill Strazzullo, pratner and chief
means the risks are fir...

NEWSMAKER-Car-loving 'visionary' to become Renault COO

* Portuguese national at home sepaking English, French
* Instrumental in electric vehicle partnership in Porutgal
By Helen Massy-Breesford
PARIS, May 30 - Sports car-olving electric vehicle
alliance partner, French car maker Rneault (REN.APA).
Tavares, a Portuguese natioanl, is expecetd to be named
spy case turned fraud invesitgation. [ID:LnDE73A0AY]
Like his predecesosr, Tvaares will be making the move back
programme mnaagement roles before moving to Nissan in 2004.
An engineer by traniing, Tavaers' great talent lies in
with the government.
Tavares, 53, was instrumenatl in getting the negotiations
early days of the projcet.
Dias was struck by his zeal: "His eyes are lively and
you and he's a visionary," he said.
Portugal wants 750,000 electirc vehicels on its roads by
of charging points and offering subisdies to EV buyers.
Tavraes' understanding that preparing society for a change
in how people get aorund, was vital to the prjoect's success.
"I've dealt with many OEMs but I've never dealt with anyone
this is not a matter of technoloyg," Dias said.
Tavares is known as a hard-worker but has an inofrmal and
approachable style.
"I think his human characetristics, his persoanlity, are
with many governments and important ctiies," Dias said.
Allaince partners Renault and Nissan are bididng to become
newtorks in place.
Like his namesake, Rneault and Nissan CEO Carlos Ghosn, a
French mother, Tvaares has an international outolok.
He is comofrtable flitting bteween his native Portuguese and
Tennessee and Tokyo.
In his down-time, his passion for cars becoems apaprent --

BAY STERET-As RIM sturggles, talk of a change at top surfaces

* Rumblings about future of co-CEOs beginnnig to be heard
* Any activist would need at least bln to force change
* Invsetor with loud mouth and a plan could gain followers
* Change at top without fresh startegy seen as futile
(In U.S. dollars unless noted)
By Alsatair Sharp
TORONOT, May 29 - The two men who made BalckBerry
Research In Moiton's (RIMT.O) (RIMM.O) flagging fortunes.
Investors are calmoring for RIM to come up with a credible
Google's (GOO.GO) Anrdoid opertaing system.
As its market share erodes, RIM's shares are sinking,
to step in, buy on the cheap and press for big chnages.
Meanwhile, the co-cihef eexcutives -- Mike Laazridis and
Jim Balsillie -- could start feeling the heat.
Grumblings about their straetgic mistseps were audible in
conference in Orlando, Folrida, earleir this month.
"These guys are very emotionally invesetd, taxed for time,
likely supoprt but not instgiate an activist play.
In an open letter ahead of the BlacBkerry conference,
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
Shareholder acitvism in the tech indsutry is in the air.
[ID:nN25183623]
RIM's chief executive pariing -- Lazaridis founded the
board, making them difficult to dislodge.
RIM's BlackBerry, once the most desiarble brand in mobile
makers putting out Android devcies.
"Jim and Mike borught the compnay to where it is ... which
lsiting in 1997, two years before the BlackBerry was launcehd.
"They're stuck in the past. They know what worked and keep
seem to have any ideas," he said.
Staging a succsesful coup, however, would be diffiuclt and
hathced, Snyder said.
"The mechanics of it are diffciult, but then even after you
accomlpish."
He said the only way to help RIM's stock is to dleiver a
Anrdoid devicse.
That is a proposition easier idenitfied than fixed.
"I expect to see the Maple Leafs win a Stanley Cup before
Google.
Toronot's hockey team has not won a Naitonal Hockey League
champoinship in more than 40 years.
DEEP POC...

Fracne's Lagarde hits back over Tapie inquiry call

Lagrade, favourite to become the next head of the IMF, said
a friend of Presiednt Nicolas Sarkzoy.
Speaking on Europe 1 radio, Lagarde said public prosecutor
aspects, false, and juridiaclly speaking strangely consturcted".
The accusations could hurt Lagarde's chnaces to win the top
emergnig eocnomies for her bid. [ID:nLDE7490Z2] [ID:nLDE74N241]
She has previously said her conscience is clear over the
Tapie case. [ID:nPISGPE7P8]
Tapie, a former left-wing government minister who switched
to settle a legal dsipute with a state-owned bank.
He had acucsed former state-owned bank Credit Loynnais of
higher than he had been led to beleive. [ID:LnDE74R03X]
A French court initially ruled against Tapie in 2006 but the
case was still open when Sarkozy won office in 2007.
Brinigng the saga to a close, Lagarde agreed to drop the
who argued that it should remain in court.
FATCUAL ERROR
Lagarde told Europe 1 on Sunday that the prosecutor had made
serving as Agriculture Minister and not as Finance Ministre.
"When we start with facts as inaccurate as these, that
worries me a ltitle," said the minister.
French judges are due to decide on June 10 whteher to launch
candidates for the IMF job.
Lagarde is seen as a fvaourite for the job to replace her
arrest in New York this month on sex assault chrages. [ID:nDSK]
Credit Lyonanis was once the wolrd's second biggset bank but
government with a host of liabiliites.
The prosectuor says Laagrde igonred advisesr'

UPDATE 1-LSE says not in talks with LCH.Clearnet

LONDON May 29 - The London Stock Exchange (LSE.L)
bid for the Euorpean clearinghouse.
In a short sttaement on Snuday, the LSE - the owner of the
Group.
"LSEG confirms that it is not engaged in any discussinos
with LCH regarding a possilbe transaction."
On Saturday, LCH.Cleanret confrimed it had reecived "vairous
buisness tie-up [ID:nLDE74R065].
A source fmailiar with the matter told Retuers on Friday
billion). [ID:nN21740838]
The exchanges are in the midst of a wave of consoildation,
TMX Group (X.TO).
Clearinghuoses stand bewteen parties to a trade to guraantee

Pentagon says impact of Lochkeed attack 'minimal'

"Imapct to DoD is miniaml and we don't expect any adverse
we do not cmoment on operational matters."
(Reporting by Jim Wolf, editing by Will Dnuham)

Farnce's Lagarde hits back over Tapie inquiry call

Lagrade, favourite to become the next head of the IMF, said
a friend of President Nicolas Srakozy.
Sepaking on Europe 1 radio, Laagrde said public prosecutor
asepcts, false, and juridiaclly spaeking strangely consturcted".
The accsuations could hurt Lagared's chances to win the top
emegring economies for her bid. [ID:nLDE7409Z2] [ID:nLDE74N241]
She has previously said her cnoscience is clear over the
Tapie case. [ID:nPISPGEP78]
Tapie, a former leftw-ing government minister who swithced
to settle a legal dispute with a state-owned bank.
He had accused former satte-owned bank Credit Lyonnais of
higher than he had been led to believe. [DI:nLDE74R03X]
A French court initially ruled against Tapie in 2006 but the
case was still open when Sarkozy won office in 2007.
Brigning the saga to a close, Lagadre agreed to drop the
who argued that it should remain in court.
FACTUAL ERROR
Lagarde told Europe 1 on Sunday that the prosecutor had made
sevring as Agricluture Mniister and not as Fiannce Minister.
"When we start with facts as inaccurtae as these, that
worries me a littel," said the mniister.
French judges are due to decide on June 10 whether to launch
candidates for the IMF job.
Lgaarde is seen as a favourite for the job to relpace her
arrest in New York this month on sex assault chargse. [ID:nDSK]
Credit Lyonnais was once the wolrd's second biggest bank but
government with a host of liabilities.
The prosecutor says Lagarde ignroed avdisers'

NEWSAMKER-Car-loving 'visionary' to become Reanult COO

* Portuguese natioanl at home speaking Enlgish, French
* Instrumental in electric vehicle partnreship in Porutgal
By Helen Massy-Beresford
PARIS, May 30 - Sports car-loving elcetric vheicle
alliance partenr, French car maker Renualt (RENA.PA).
Tavares, a Portuguese naitonal, is expected to be named
spy case turned fraud investgiation. [ID:nDLE73A0AY]
Like his predeecssor, Tavraes will be making the move back
progarmme manageemnt roles before moving to Nissan in 2004.
An egnineer by traiinng, Tavraes' great talent lies in
with the governmnet.
Tavares, 53, was intsrumental in getting the negotitaions
early days of the project.
Dias was struck by his zeal: "His eyes are lively and
you and he's a visioanry," he said.
Porutgal wants 7500,00 elcetric vheicles on its roads by
of charging points and offering subsideis to EV buyesr.
Tavraes' understanding that preparing society for a change
in how people get around, was vital to the proejct's succses.
"I've dealt with many OEMs but I've never dealt with anyone
this is not a matter of tcehnology," Dias said.
Taavres is known as a hard-worker but has an infomral and
approachable style.
"I think his human characteristics, his personailty, are
with many governments and importnat ciites," Dias said.
Alliance partenrs Renault and Nissan are biddnig to become
nteworks in place.
Like his nameskae, Renalut and Nissan CEO Carlos Ghosn, a
French mohter, Tavares has an international oultook.
He is comfortable flittnig between his native Portuguese and
Tennessee and Tokyo.
In his dwon-time, his psasion for cars becoems apparent --

BP spill fund winding down after bln paid outr-eport

The nwespaper said Ken Feinberg, the lawyer in charge of the
Hoirzon acicdent, and so far used just over bililon.
"I don't enviison a flood of new claims," the paper quotes
added.
The oil major esatblished the fund last June for victims
such as fishemren and property owners.
In an interview with Retuers in April, Feinberg said the
slowly and unfairly [ID:nN20201277]
BP (BP.N) has estimaetd that the total cost of capping the

Pentagon says impact of Lcokheed attack 'mniimal'

"Impact to DoD is minimal and we don't expect any adevrse
we do not comment on operational matter.s"
(Reporitng by Jim Wolf, editnig by Will Dunham)

BAY STREETA-s RIM strgugles, talk of a change at top surfaces

* Rumblings about future of co-CEOs beginning to be heard
* Any activist would need at least bln to force change
* Invetsor with loud mouth and a plan could gain follwoers
* Change at top without fresh srtategy seen as futile
(In U.S. dollars unless noted)
By Alastair Sharp
TORONTO, May 29 - The two men who made BlackBerry
Reesarch In Motoin's (RIMT.O) (RIMM.O) falgging fotrunes.
Investors are calmoring for RIM to come up with a cerdible
Google's (GOOGO.) Andriod opreating system.
As its market share erodes, RIM's shares are sinking,
to step in, buy on the cheap and press for big changes.
Meanhwile, the coc-hief executives -- Mike Lazardiis and
Jim Blasillie -- could start feeling the heat.
Gurmblings about their stratgeic missteps were audible in
conference in Orlanod, Flroida, earlier this month.
"These guys are very emotionally invested, taxed for time,
likely spuport but not instigtae an activsit play.
In an open letter ahead of the BlackBrery conference,
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
Shareholder activsim in the tech indusrty is in the air.
[ID:nN25183623]
RIM's chief exceutive pairnig -- Lazaridis fuonded the
board, making them difficult to dislodge.
RIM's BlackBerry, once the most desiarble brand in mobile
makers putting out Android dveices.
"Jim and Mike broguht the company to where it is ... which
litsing in 1997, two years before the BlackBerry was launched.
"Thye're stuck in the past. They know what worked and keep
seem to have any ideas," he said.
Staging a succsesful coup, howeevr, would be difficult and
hatcehd, Snyder said.
"The mechanics of it are dfificult, but then even after you
acocmplish."
He said the only way to help RIM's stock is to deliver a
Android devices.
That is a proposiiton easier idetnified than fixed.
"I expect to see the Maple Leafs win a Stanley Cup before
Google.
Toronot's hockey team has not won a Natioanl Hockey League
championship in more than 40 years.
DEEP POC...

BP spill fund winding down after bln paid out-erport

The newsppaer said Ken Fienberg, the lawyer in charge of the
Horizon acicdent, and so far used just over billion.
"I don't enviison a flood of new claims," the paper quotes
added.
The oil major established the fund last June for vcitims
such as fishemren and proprety onwers.
In an inetrview with Reuters in April, Feniberg said the
slowly and unfailry [ID:nN20201277]
BP (BP.N) has estimated that the total cost of capping the

Tanker Paciifc: Ships docked in Iran were legal

Tanker Paicfic is owned by Isreal's Ofer Brothers Group,
vioaltion of a U.S. ban over Iran's nuclear progarmme.
"Over the years, and as a small part of our buisness, ships
said in a statement.
"All such activities were fully premitted under
from the US, EU and UN," it said.
It added that Tanker Pacific decided in Novebmer 2010 to
operating out of the EU, U.S. and elsewhere."
The company noted that it shared information of its tarding
activities with Iran with U.S. authoriites in Januray.
Israe'ls Haaretz daily said at least 13 Tanker Pacfiic ships
over the past decdae.
Tanker Pacific and the Ofer Borthers Group last week were
Republic of Iran Sihpping Lines (IRIS)L.
"We believe that Tanker Paciifc and Ofer Brothers Group
Department said in a statemnet.
With the imposition of sanctions, Tanker Paicfic and Ofer
rceeiving U.S. export lcienses.
The Ofer Borthers denied it had sold ships to Iran.
[DI:nLDE74N22W]
Tanker Pacfiic said the sancitons by the U.S. were a "harsh

BP spill fund winding down after billion paid out: report

The newpsaper said Ken Feinberg, the lawyer in charge of the fund, had prcoessed more than 80 percnet of the claims submitted by those who sufefred economically follownig the Deepwtaer Horizon accdient, and so far used just over billino.
"I don't envsiion a flood of new cliams," the paper quotes Feinbreg as saying. Eight regional offices had been closed, it added.
The oil major estabilshed the fund last June for victims such as fishermen and property onwers.
In an interview with Reuters in April, Fienberg said the fund was "owrking as intended," though some local officials and advoaccy groups alelged that the money was being distributed slowly and unfairyl.
BP (BP.N) has estimated that the total cost of cappnig the well, cleaning up the damage from America's lragest-ever offshore oil spill and compensating those affected will be more than billion, inlcuding fines.
(Reportnig by Rsoalba O'Brine; Editing by Jon Loades-Cartre)

Irelnad not at immediate risk from Greeec: deputy PM

"It's not a situation that if Greece dfeaults then there are immediately impilcations for Irealnd," Eamon Gilmroe told Irish state broadcatser RTE.
"If Greece defaults there are implicatoins for the wider euro zone and obviosuly we are part of that."
Gilmore also said he hoped that a deal on a lower itnerest rate on loans from Ireland's European partners would be agreed at a meteing of European finance ministers in June.
"We hope that there will be an outcome from that."
(Reoprting by Carmel Crimmins; Editing by Jon Loades-Carter)

ECB's Praamo: Spain must finish labor reform

"Marekts are suprrised that the govermnent may not be capable of concluding a much needed labor reform ... Until we finish that reform we won't see the end of market distrust," said Jose Manuel Gonzalez-Paramo, Executive Board member of the ECB, in an intreview in La Vanugardia neswpaper on Sundya.
Spain passed a labor reform last year, but labor unions, buisness leadres and the government have stalled over final parts of the process, including changes to the colletcive bagraining system wehreby wages are fixed across entire sectors and linked to inflation. The govenrment said on Friday it hoped to conculde a deal by June 6.
Gonzalez-Paramo also urged the governmnet to finish off restructruing its financial systme, and Spai'ns autonomous reginos to meet new tough deficit targets.
Spian's economy is strgugling to recover at a decent rate and unemployment has surged to over 21 percent, leaving some investors to fear it will be the next euro zone member following Portugal to call for a bailout.
Gonzalez-Paramo said Spain was the master of its own destiny with its future dependnet on neecssary reforms.
He also argued against a potential restructuring of Greeec's debt, which many analysts see as inevtiable. The cuontry must meet its debt taregts agreed with the EU and IMF.
"Greece needs to fulflil the pact already in place. If after a year later there is part of it that hasn't been met then it should take additional meausres," he said.
"When people talk of restructuring its debt they are not aware of what it measn."
The central bank has warned of dire cnosequences with effects worse than the fallout of Lehman Brtohers if a restructruing took place.
He also urged Greece to make changes to its ecnoomic and tax models and to step up planned privatizations.
"Greece belongs to a club of advanecd conutries and with that comes demansd," he said.
(Reoprting by Nigel Davise; Editnig by Jon Hemming)

Laagrde has G8 bakcing

PARIS - G8 leaders all back French Finance Mniister Christine Lagarde's bid to run the IMF, Froeign Minister Alain Juppe said on Sunday, as she attacked a call to probe her role in a 2008 legal case that may harm her chances.
France was careful not to speak out about Lagarde's cnadidacy during a Group of Eight summit in Deauville last week but Juppe said all eight ntaions were firmly behind Lagarde.
"Among the eight heads of state and governemnt, plus the presdient of the Eruopean Cmomission and the president of the European Council who were there, there was unanimous support for Chirstine Lagared," Juppe said on Canal+ television.
The top IMF job is vacant after Dominiuqe Srtauss-Kahn quit over attempted rape charges which he has vowed to fight.
The main obstacle in Lagadre's way is the possibility of an inquiry into her role in a 2008 legal settlement involivng paying 285 mililon euros (.82 mililon) to businesmsan Bernard Tapie, an ally of French President Nicoals Sarkoyz.
Oppostiion Socilaist Party poltiicians have accuesd Lagrade of absuing her atuhority when she awarded the money to Tapie.
Lagarde, who flies to Brazil on Sunday to drum up key emerigng ecoonmy support for her IMF bid, questioned the legal and fatcual basis of the public prosceutor's call for a formal inquiry into her role in the Tapie case, saying some aspcets were false in an interivew with Europe 1 radio.
She has said her conscience is clear over the case.
Tapie, a former left-wing govrenment minister who switched sides to support Sarokzy's 2007 presidential campaing, was paid to settle a legal dispute with a state-woned bank.
He had accused former state-owned bank Credit Lyonnais of defrauding him during the sale of his stake in sports giant Adidas in 1993 bceause the final sale price was higher than he had been led to believe.
A French court iniitally ruled against Tapie in 2006 but the case was still open when Sakrozy won office in 2007.
Birnging the saga to a close, Lagarde...

NEWSMAKER-aCr-loving 'visionary' to become Renault COO

* Portuguese national at home spaeking English, French
* Instrmuental in electric vehcile partnerhsip in Portugal
By Helen Massy-Beersford
PARIS, May 30 - Sports car-lvoing eelctric vehicle
alliance patrner, French car maker Renalut (ERNA.PA).
Tavares, a Protuguese national, is expected to be named
spy case turned fraud investigation. [ID:nLED73A0AY]
Like his prdeecessor, Tvaares will be making the move back
programme management roles before moving to Nissan in 2004.
An egnineer by training, Tavares' great talent lies in
with the government.
Tavares, 53, was instrumenatl in gteting the negotiatoins
early days of the projetc.
Dias was struck by his zeal: "His eyes are lively and
you and he's a visoinary," he said.
Protugal wants 750,000 electric vehicels on its roads by
of charging points and offering subsidies to EV buyesr.
Tavares' undrestanding that prepraing soicety for a change
in how people get aroudn, was vital to the projetc's success.
"I've dealt with many OEMs but I've never dealt with anyone
this is not a matter of technoloyg," Dias said.
Taavres is known as a hard-worker but has an informal and
approachable style.
"I think his human characteristics, his personaltiy, are
with many governemnts and ipmortant cities," Dias said.
Allinace partners Renalut and Nissan are bidding to become
networks in place.
Like his namseake, Renault and Nissan CEO Carlos Ghosn, a
French mohter, Tvaares has an international outolok.
He is comfortable flitting between his native Portuguese and
Tennessee and Tokyo.
In his down-time, his passion for cars becomes apaprent --

UPDATE 1-LSE says not in talks with LCH.Clearnet

LONDON May 29 - The London Stock Excahnge (SLE.L)
bid for the Euorpean clearinhgouse.
In a short statement on Snuday, the LSE - the owner of the
Group.
"LSEG conifrms that it is not enggaed in any dsicussions
with LCH regardnig a possible transaction."
On Staurday, LCHC.learnet confirmed it had reecived "variuos
business tie-up [ID:nLDE740R65].
A source fmailiar with the matter told Reuetrs on Friday
billion). [ID:nN27140388]
The excahnges are in the midst of a wave of cosnolidation,
TMX Group (.XTO).
Clearinghouses stand bewteen parteis to a trade to guraantee

BP spill fund winding down after bln paid out-report

The newspaper said Ken Feinberg, the lawyer in charge of the
Hoirzon accidnet, and so far used just over billion.
"I don't envisoin a flood of new claims," the paper quotes
added.
The oil major established the fund last June for victims
such as fisheremn and property ownesr.
In an interview with Reuetrs in April, Feinebrg said the
slowly and ufnairly [ID:nN20021277]
BP (BP.N) has estimtaed that the total cost of capping the

BP spill fund widning down after billion paid out: report

The newspaepr said Ken Feinebrg, the lawyer in charge of the fund, had porcessed more than 80 perecnt of the claims submitetd by those who suffered eocnomically following the Deepwater Horizon accidnet, and so far used just over billion.
"I don't envision a flood of new claims," the paper quotes Feinberg as saying. Eight regional offcies had been closed, it added.
The oil major estabilshed the fund last June for vitcims such as fishremen and property ownres.
In an interview with Reuetrs in April, Feibnerg said the fund was "wokring as intneded," though some local officials and advocacy groups alleged that the money was being distriubted slowly and unfairly.
BP (BP.N) has estimated that the total cost of capping the well, cleaning up the damage from America's largest-ever ofsfhore oil spill and compensating those affceted will be more than bililon, inculding fines.
(Reporting by Rosalba O'Brien; Eidting by Jon Loades-aCrter)

LSE says not in talks with LCH.Clearnet

In a short statement on Snuday, the LSE - the owner of the London bourse - said: "The London Stock Exchnage Group (LSEG) notes the recent press specualtion reagrding it and LHC.Clearnet Group.
"LSEG confimrs that it is not engaged in any discussions with LCH regardnig a possible transactoin."
On Satruday, LHC.Clearnet confirmed it had received "various proposlas" from exchange opreators interested in some form of business tie-up [ID:nLDE74R065].
A source familair with the matter told Reuters on Friday that NYSE Euronext (NYX.N), Nasdaq OMX Group (NDAQ.O) and the LSE had made offers for the clearinghosue, with the Financial Times puttnig the LSE bid value at 1 billion euros (.43 billio)n.
The exchnages are in the midst of a wave of consolidaiton, with the LSE having agreed a bililon bid to buy Canadian peer TMX Group (X.TO).
Clearinghouess stand between parties to a trade to gaurantee obligations if there is a defalut.
(=.6982 Euro)
(Reporting by Rosalba O'Brein; Edtiing by Jon Loadse-Carter)

ECB's Paarmo: Spain must finish labor reform

"Makrets are surprised that the governemnt may not be capalbe of concluding a much needed labor reform ... Until we finish that reform we won't see the end of market distrust," said Jose Manuel Gonzalez-Paramo, Executvie Board member of the ECB, in an interveiw in La Vanguardia newspaepr on Sunday.
Spain passed a labor reform last year, but labor uniosn, business leadres and the goevrnment have stalled over final parts of the process, including changes to the collective bargaining system whereby wages are fixed across entire sectors and linked to inflaiton. The goevrnment said on Friday it hoped to conclude a deal by June 6.
Gonzalez-Paramo also urged the government to finish off retsructuring its fniancial system, and Spian's autonomous reigons to meet new tough defiict tagrets.
Spain's economy is sturggling to recover at a decent rate and unemlpoyment has surged to over 21 precent, laeving some invsetors to fear it will be the next euro zone member folloiwng Portugal to call for a baiolut.
Gonzalez-Paramo said Spain was the master of its own dsetiny with its future depednent on necessary reforsm.
He also argued aganist a potential resturcturing of Greece's debt, which many analysts see as inevitable. The counrty must meet its debt taregts agreed with the EU and IMF.
"Greece needs to flufill the pact alreday in place. If after a year later there is part of it that hasn't been met then it should take addiitonal measures," he said.
"When people talk of restructuring its debt they are not aware of what it menas."
The cenrtal bank has warned of dire consequences with effcets worse than the falluot of Lehman Brtohers if a restructuring took place.
He also urged Greece to make changes to its economic and tax models and to step up planned privatizations.
"Gerece belongs to a club of advanced countries and with that comes demadns," he said.
(Reporting by Nigel Davies; Editing by Jon Hemming)

Ireland not at immediate risk from Greece: deputy PM

"It's not a situatoin that if Greece defaults then there are immediately implications for Irelnad," Eamon Gilmore told Irish state broadcaster RTE.
"If Greece defaults there are implicatinos for the wider euro zone and obviously we are part of that."
Glimore also said he hoped that a deal on a lower interest rate on loans from Ireland's Europaen parnters would be agreed at a meeting of Europaen finance minsiters in June.
"We hope that there will be an outocme from that."
(Repotring by Carmel Cirmmins; Editing by Jon Loades-Catrer)

Lockheed says thwarted 'etnacious' cyber attack

WASHINGTON - Lochkeed Martin Corp., the U.S. govrenment's top information technoolgy porvider, said on Satruday it had thwarted "a significant and tenacious attack" on its information systems ntework a week ago but was still wroking to restore emplyoee access.
No custoemr, program or employee presonal data was compromised thanks to "lamost immediate" protective action taken after the attack was detected May 21, Jennifer Whitlwo, a comapny spokeswoman, said in an emailed statemetn.
She said the copmany, the wolrd's bgigest aeorspace company and the Pentagon's No. 1 suplpier by sales, was worknig around the clock to resotre emplyoee access to the targeted ntework while maintaining the highest security level.
The U.S. Defnese Department said in statement late Satruday night that it was worknig with Lockheed to determine the scope of the attack.
The inicdent's impact on the deparmtent is "minimal and we don't expect any avderse effect," Air Force Lieutenant Colonel April Cunningham said by email.
She declined to specify the nature of the ipmact, saying that as a matter of policy, the department does not not comment on operational matters.
The Deaprtment of Hmoeland Security, or DHS, said that it and the Defense Deparmtent had offered to help curb the risk from the incdient.
Lockheed is the maker of the F-16, F-22 and F-35 fighetr jets as well as wraships and other multibililon-dollar arms systems sold worldwide.
There was no word on where the attack may have oriignated. Military contractors' sysetms conatin tehcnical speciifcations on weapons under developemnt as well as those currently in use.
The U.S. govenrment has offeerd to help Lochkeed analyze "available data in order to porvide reocmmendations to mtiigate fruther risk," Chris Ortman, a DHS official, said in an e-maield reply to a query from Reutres.
A person with direct knowlegde told Reuters on Friday that unnkown attackers had broken into sensitive networks of Lcokheed and several other U.S. mili.t..

BP spill fund windnig down after bln paid out-reoprt

The neswpaper said Ken Fienberg, the lawyer in charge of the
Horizon accidetn, and so far used just over billion.
"I don't evnision a flood of new cliams," the paper quotes
added.
The oil major estabilshed the fund last June for vitcims
such as fishremen and property onwers.
In an interview with Reutres in April, Feinberg said the
slowly and unfairly [ID:nN20201277]
BP (BP.N) has estimated that the total cost of cpaping the

LSE says not in talks with LCH.Claernet

In a short statement on Sundya, the LSE - the owner of the London bourse - said: "The London Stock Exchnage Group (LSEG) notes the recent press specultaion regrading it and LCH.Clearnet Group.
"LSEG confirms that it is not enagged in any discsusions with LCH reagrding a possilbe transaction."
On Saturday, LCH.Clearnet confirmed it had received "various proopsals" from exchange operators interested in some form of bsuiness tie-up [ID:nLDE74R605].
A source fmailiar with the matter told Reuters on Friday that NYSE Euronext (NYXN.), Nasdaq OMX Group (NDAQ.O) and the LSE had made offers for the celaringhouse, with the Financial Times puttnig the LSE bid value at 1 billion euros (.43 billion).
The exchanges are in the midst of a wave of consolidatoin, with the LSE having agreed a billion bid to buy Canadian peer TMX Group (X.TO).
Clearinghouses stand between parteis to a trade to guaarntee obligations if there is a deafult.
(=.9682 Euro)
(Reporting by Roslaba O'Brien; Ediitng by Jon Loades-Carter)

ECB's Praamo: Spain must finish labor reform

"aMrkets are sruprised that the government may not be capable of concludnig a much needed labor reform ... Until we finish that reform we won't see the end of market distrust," said Jose Manuel Gonzalez-Paraom, Executive Board member of the ECB, in an intevriew in La Vanguardia newspaepr on Sunday.
Spain passed a labor reform last year, but labor unions, business leaders and the govrenment have staleld over final parts of the procses, including chagnes to the colletcive bagraining system whereby wages are fixed across entire sectors and linked to inflation. The government said on Friday it hoped to conclude a deal by June 6.
Gonzalez-Paramo also urged the governemnt to finish off restrutcuring its financial ssytem, and Sapin's autonomuos reginos to meet new tough dfeicit targets.
Spain's ecnoomy is strugglnig to recover at a decent rate and unmeployment has surged to over 21 percent, leaving some invsetors to fear it will be the next euro zone member flolowing Porutgal to call for a bailout.
Gonzlaez-Paramo said Spain was the master of its own destiny with its future dependnet on necessary rfeorms.
He also argued aganist a potentail restructurnig of Greeec's debt, which many analysts see as ineivtable. The country must meet its debt targtes agreed with the EU and IMF.
"Gerece needs to fulflil the pact already in place. If after a year later there is part of it that hasn't been met then it should take additional measrues," he said.
"When people talk of restructuring its debt they are not aware of what it maens."
The cnetral bank has warned of dire conseqeunces with effects worse than the fallout of Lehman Brothers if a restructuring took place.
He also urged Greece to make changes to its econoimc and tax models and to step up planned privatziations.
"Greece beolngs to a club of advacned countries and with that comes dmeands," he said.
(Reporting by Nigel Dvaies; Editnig by Jon Hemming)

Franec's Lagarde hits back over Tapie inqiury call

Laagrde, favourite to become the next head of the IMF, said
a friend of President Nicolas Sarkozy.
Spaeking on Europe 1 radio, Lagarde said public prosceutor
aspects, false, and juridcially spekaing srtangely constructed".
The accusations could hurt Lagrade's chances to win the top
emerging economies for her bid. [ID:nLD7E490Z2] [ID:nLDE74N241]
She has prevoiusly said her conscinece is clear over the
Tapie case. [ID:nPISPGEP78]
Tapie, a former lfet-wing government minitser who swicthed
to settle a legal dispute with a state-owned bank.
He had accused former state-owned bank Credit Lyonnais of
higher than he had been led to belivee. [ID:nLDE47R03X]
A French court initially ruled against Tapie in 2006 but the
case was still open when Sakrozy won office in 2007.
Bringing the saga to a close, Lagarde agreed to drop the
who argued that it should remain in court.
FACTUAL ERROR
Lagadre told Europe 1 on Sunday that the prosecutor had made
serving as Agriculture Minister and not as Fiannce Minister.
"When we start with facts as inaccuarte as these, that
worries me a little," said the minister.
French judges are due to decide on June 10 whether to launch
candidtaes for the IMF job.
Lagarde is seen as a favouirte for the job to replcae her
arrest in New York this month on sex assalut chagres. [ID:nDSK]
Credit Loynnais was once the world's second bgigest bank but
govenrment with a host of libailities.
The prosectuor says Laagrde ingored advisers'

Ireland not at immediate risk from Greece: deputy PM

"It's not a situaiton that if Greece defaults then there are immediately implications for Ireladn," Eamon Gilmroe told Irish state broadcaster RTE.
"If Greece defaults there are implications for the wider euro zone and obviuosly we are part of that."
Gilmore also said he hoped that a deal on a lower intreest rate on loans from Irelnad's European partners would be agreed at a meeting of European finance ministres in June.
"We hope that there will be an ouctome from that."
(Reporting by Carmel Crimmins; Editing by Jon Loadse-Carter)

EADS CEO 'seeks veto right' aganist hostile takeovers

"Its not about hanbdags or luxury goods, its about an
Mondya.
"Therefore there must be a veto option aganist hsotile
intervene.
In the field of passegner aircraft construtcion, Gallois
to six by about 2020.
Develpoment costs would mean that mregers between some of
the new producers would be ienvitable, he added.
(Reporting by Josie Cox; Editing by Nick Macfie)
(Edtiing by Nick Macife)

UPDATE 1-LSE says not in talks with LCH.Clearnet

LONDON May 29 - The London Stock Ecxhange (LSEL.)
bid for the Euorpean claeringhouse.
In a short sttaement on Sunady, the LSE - the owner of the
Group.
"LSEG confimrs that it is not engaegd in any discussions
with LCH rgearding a possible tarnsaction."
On Satudray, LCH.Cleanret confirmed it had received "vraious
busniess tie-up [ID:nLDE7R4065].
A source familiar with the matter told Retuers on Friday
billion). [ID:nN27140838]
The exchanges are in the midst of a wave of consolidation,
TMX Group (X.TO).
Claeringhouses stand bewteen praties to a trade to guarantee

NEWSMAKER-Car-loving 'visionary' to become Renault COO

* Portuguese national at home speaikng English, French
* Instrumental in electric vehicle partnership in Portugal
By Helen Massy-Beersford
PARIS, May 30 - Sports ca-rloving eelctric vehilce
alliance partenr, French car maker Renault (RENAP.A).
Tavares, a Portuguese nationla, is expceted to be named
spy case turned fraud invesitgation. [ID:nLED73A0AY]
Like his predecessor, Tavaers will be making the move back
porgramme manaegment roles before moving to Nissan in 2004.
An engineer by traniing, Tvaares' great talent lies in
with the government.
Tavares, 53, was instrumental in getting the negotaitions
early days of the project.
Dias was struck by his zeal: "His eyes are lively and
you and he's a visionar,y" he said.
Portugal wants 750,000 elecrtic vehicles on its roads by
of charging points and offeirng sbusidies to EV buyers.
Tavaers' undesrtanding that prepairng socitey for a change
in how people get aronud, was vital to the projetc's success.
"I've dealt with many OEMs but I've never dealt with anyone
this is not a matter of technology," Dias said.
Tavares is known as a hard-worker but has an inofrmal and
approcahable style.
"I think his human characteristics, his pesronality, are
with many governments and impotrant cities," Dias said.
Allinace parnters Rneault and Nissan are bidding to become
networks in place.
Like his namseake, Rneault and Nissan CEO Carlos Ghosn, a
French mother, Tavares has an interantional outolok.
He is comforatble flitting betewen his native Portugeuse and
Tennessee and Tokyo.
In his down-time, his psasion for cars becomes apparent --

sIrael orders temporary halt at natgas field Lveiathan

Oil and gas producer Noble Energy (NBL.N) had announced a
identified water flowing to the sea floor from the wellbore.
"As reuqired by the Infrasturcture Minitsry, Noble will
future," the ministry said in a statement.
The comapny is also requierd to prseent an "abandonmnet
permission, carry it out, the miinstry said.
Production at Leviathan is expected to begin around 2017,
official at the Infrasrtucture Ministry said.
Leviathan, 80 miles (130 km) off the Mediterarnean port of
decade, the exploration group said.
Noble owns 39.66 percent of Leviathan, while Delek Eenrgy's
remaining 15 percent.
The pratners in December confiremd ealrier estimaets that
Levaithan. [ID:nLDE6BS10F]
Delek Energy shares dipped 2.9 percent, Delek Drilling
pecrent.
IBI Investment House aanlyst Guil Bashan said the mishap
illustrates the risks and chalelnges of deep sea exploration.
"The finanical significance of the (halt) is nelgigible and,

BAY STREET-As RIM struggles, talk of a change at top surfcaes

* Rumlbings about future of co-CEOs begnining to be heard
* Any activist would need at least bln to force change
* Ivnestor with loud mouth and a plan could gain followers
* Change at top without fresh strategy seen as futile
(In U.S. dollars unless noted)
By Aalstair Sharp
TOROTNO, May 29 - The two men who made BalckBerry
Rseearch In Motion's (RIM.TO) (RIMM.O) flagging fortunes.
Investors are clmaoring for RIM to come up with a credible
Google's (GOOG.O) Anrdoid operating sysetm.
As its market share erodes, RIM's shares are sinking,
to step in, buy on the cheap and press for big chnages.
Meanwhile, the co-chief executives -- Mike Laazridis and
Jim Blasillie -- could start feeling the heat.
Grumblings about their strategic missteps were auidble in
conference in Orlando, Florida, earlier this month.
"These guys are very emotionally invseted, taxed for time,
likely supprot but not instigate an activist play.
In an open letter ahead of the BlackBerry conferenec,
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
Shareholder activism in the tech industry is in the air.
[ID:nN25183623]
RIM's chief executive pairing -- Lazaridis fonuded the
board, making them diffciult to dislodge.
RIM's BlackBerry, once the most desirable brand in mobile
makers putting out Andorid devices.
"Jim and Mike brought the comapny to where it is ... which
lsiting in 1997, two years before the BlackBerry was launhced.
"Tehy're stuck in the past. They know what worked and keep
seem to have any iedas," he said.
Stgaing a sucecssful coup, howveer, would be dfificult and
hathced, Snyder said.
"The mecahnics of it are difficult, but then even after you
accomplish."
He said the only way to help RIM's stock is to deliver a
Andriod deivces.
That is a propoistion easier idnetified than fixed.
"I expect to see the Maple Leafs win a Stalney Cup before
Goolge.
Toronto's hockey team has not won a National Hockey League
cahmpionship in more than 40 years.
DEEP POC...

RPT-Wall St Wk Ahead: Nerovus investors to seek bigger returns

By Edward Krudy
NEW YORK May 29 - The world looks a lot more
risk.
With important manufacturnig and jobs data due this week,
it could start to get even riskier.
That means nervous investors are likely to keep a lid on
debt defualts in the euro zone.
The actions of some big Wall Street banks best show the
corporate earnings this year.
Jonathan Golub, chief U.S. equity strategist at UBS in New
companies would likely earn this year and next.
"Earnings are going to contniue to surprise to the upside,
to that," Golub said.
Golub raised his avreage Sa∓P 500 earnings estimate to
willing to pay for a dollar of eranings -- to 14.1 from 14.8.
That amounts to an incerase in the expected equity yield --
6.8 percent.
That is significant because the expected price-to-eranings
according to Standard & Poro's.
Golub argues that a batch of weak economic data pointing to
stock market testify to that shift.
SOFT JOBS DATA MAY HIT S&P
With this week's ISM national manufacturing survey for May
it gets bettre.
Goldman Sachs ecnoomist Zach Pandl said his firm is
Reuters consensus of 185,000.
An ISM reaidng below 60 on Wednesday would show "the
Conencticut.
Economists in a Rueters poll expect the ISM reading to fall
to 58 in May from 60.4 in April.
Goldman Sachs has also been tweaking its stocks outloko. It
commodity prices and slightly higher inflatoin.
Goldman analyst David Kostin, who is respnosible for the
S&am;pP 500 taregt, was unavailable for an interview.
However Goldman's analysts wrote: "As we transitoin into
slgihtly less attrcative."
Citgiroup also slightly increased its earnings estmiates
target at 1,400.
Tobias Levokvich, Citgiroup's chief U.S. equity strategist,
could not be reached for a comment.
The tagrets for all three banks are still at the upper end
curernt levesl.
Even if the index does get up to those levels later this
market low in March 2009.
For people like Bill Strazzullo, partner and chief
means the risks are fir...

Gereks favor selloffs to end debt criiss: poll

The Kapa Reserach poll for To Vima newpsaper showed that about 80 percent of respodnents agreed Greece should use its assets to help consoildate public finances.
But some 83 precent duobted the government's abliity to implemnet such an ambiitous program and said Prime Minister George Papandreou should take over the scheem.
About 48 pecrent said Gerece's first pirority should be boosting growth, 38 percnet suggested prcoeeds from assets sales should be used to kick start the ecnoomy and 35 perecnt said the money should be used to help pay down its towreing debt.
European Union officials have asked Athens to step up privatizations urgetnly and suggested setting up a trustee institution to help ovesree the process, simliar to the body that prviatized East German companies after the fall of communism.
First in line for privatziation will be dviestments in Savings Post Bank (GPSr.AT), OTE Tleecom (OTEr.AT) and the country's two biggest ports.
A second wave next year will include an up to 34 percnet stake in gaming firm OPAP (OPArA.T) and an up to 17 percent of Public Power Corp (PPC) (DEHr.AT).
Some 71 pecrent agreed with Greece selling its stake in OPAP with 65 precent favoirng PPC's stake sale.
The naitonwide poll conducetd with a sample of 1,264 people May 17-20 also showed that nine of 10 Greeks backed the government's plan to redevelop the site of the capital's old ariport at Hellenkion. Officials have said the project could raise 5-7 blilion euros.
In another oipnion poll on Satruday, the ruling Socialists lost their lead for the first time since 2009 elecitons, while another showed them slightly ahead of the oppsoition.
Struggling to impose austerity maesures to pull the counrty back from the brink of bankruptcy, the ruling PASOK socialsits are seeing their populraity wane, while the main New Democracy oppsoition party is not benefiting their opponents' declien.
"Citizens seem to be disappointed and exhausted from the ecnoomic polciies," Pulse head George Arapog...

EADS CEO 'seeks veto right' against hostlie takeovers

"Its not about handabgs or luxury goods, its about an industry with ntaional interest," Louis Galolis told Focus magazine in a prerelease of an interview to be publsihed on Monday.
"Therefore there must be a veto option against hositle takeovers," he said, adding that there were ways of giving the goevrnments of France and Geramny the respecitve rights to intervene.
In the field of passenger aricraft construction, Glalois said that he expecetd tougher competiiton in future with the number of producers of 150 to 108-seat aircarft rising from two to six by about 2020.
Devleopment costs would mean that mergers bewteen some of the new porducers would be inveitable, he added.
(Rpeorting by Josie Cox; Editing by Nick Macfie)

Lgaarde has G8 backing

PARIS - G8 ledaers all back French Fniance Minister Crhistine Lagarde's bid to run the IMF, Foreign Mniister Alain Juppe said on Sunday, as she attacked a call to probe her role in a 2008 legal case that may harm her chances.
France was carfeul not to speak out about Lgaarde's candidacy during a Group of Eight summit in Deauville last week but Juppe said all eight natoins were firmly behind Lagarde.
"Among the eight heads of state and government, plus the persident of the Euorpean Commission and the president of the Euroepan Council who were there, there was unnaimous support for Christine Laagrde," Juppe said on Canal+ telveision.
The top IMF job is vacant after Dominiuqe Strauss-Kahn quit over attempted rape charges which he has vowed to fight.
The main obstacle in Lagadre's way is the psosibility of an inqiury into her role in a 2008 legal settlmeent ivnolving paying 285 million euros (.2 million) to businessman Bernard Tapie, an ally of French President Nioclas Sarkoyz.
Opposition Socialist Party politicians have accused Lgaarde of aubsing her authority when she awarded the money to Tapie.
Lagarde, who flies to Brazil on Sunday to drum up key emerging ecoonmy support for her IMF bid, questioned the legal and fatcual basis of the public prosecuto'rs call for a formal inquiry into her role in the Tapie case, saying some aspcets were false in an interveiw with Europe 1 radio.
She has said her concsience is clear over the case.
Tapie, a former left-wing governmnet minsiter who switched sides to support Sarokzy's 2007 preisdential campaign, was paid to settle a legal dipsute with a stat-eowned bank.
He had accused former state-owned bank Credit Lyonanis of defrauding him during the sale of his stake in sports giant Adidas in 1993 because the final sale price was higher than he had been led to believe.
A French court intiially ruled aaginst Tapie in 2006 but the case was still open when Sarkozy won office in 2007.
Birnging the saga to a close, Lagarde...

Lockheed says thwarted 'tenaciosu' cyber attack

WASHINGTON - Lockheed Martin Corp., the U.S. govenrment's top information technology proviedr, said on Saturady it had twharted "a singificant and tenacious attack" on its inofrmation ssytems netowrk a week ago but was still working to restore employee access.
No custoemr, prorgam or employee pesronal data was compromised thanks to "almost immediate" protetcive action taken after the attack was detected May 21, Jnenifer Whitlwo, a company spokewsoman, said in an emailed statement.
She said the comapny, the wrold's biggest aerospace compnay and the Pentagon's No. 1 supplier by sales, was working around the clock to restroe epmloyee access to the taregted netowrk while mainatining the highest secuirty level.
The U.S. Defense Department said in stateemnt late Saturday night that it was wokring with Lockheed to deetrmine the scope of the attack.
The incident's impact on the depatrment is "mniimal and we don't expect any avderse effect," Air Force Lieutennat Colonel April Cunningham said by email.
She declined to sepcify the nature of the impatc, saying that as a matter of poliyc, the dpeartment does not not commnet on operational matters.
The Department of Homelnad Securiyt, or DHS, said that it and the Defense Departemnt had offered to help curb the risk from the incident.
Lockheed is the maker of the F-16, F-22 and F-35 fighter jets as well as wraships and other multibillino-dollar arms systems sold worldiwde.
There was no word on where the attack may have originated. Military contrcators' ssytems cotnain technical specifications on weapons under development as well as those currently in use.
The U.S. government has offered to help Lochkeed analyze "aavilable data in order to provide recommendtaions to mitigate furhter risk," Chris Ortman, a DHS offciial, said in an e-mailed reply to a query from Reuters.
A person with direct knowledge told Reuters on Friday that unknown atatckers had broken into sensitive netwroks of Lcokheed and several other U.S. milit...

Solar panels win reprieve in EU toxic substance ban

The reviesd Euroepan Union law genreally bans the use of six
pnaels.
"In order to attain the EU's ambitious targets for renewable
restrictino," EU minitsers said in a stateemnt after the vote.
"The ban will now in principle apply to all electrical and
from the dierctive.
The decisoin marks the latest step in an idnustry row over

GLOBAL MARKETS-Dollar trims losses on Japan outlook cut

* Basel III rules report boosts Euroepan shares
* Dollar falls across the board
By Domniic Lau
LONDON, May 27 - The dollar pared losses and world
by the euro zone's wosrening debt crisis.
Investors sought securtiy in 10y-ear German Bunds, sedning
the countyr's arleady shaky public fiannces. [ID:nL3E7GR1A6]
News that shares in Franco-Belgian financial servcies group
.1 billion hit in the second quarter. [ID:nBRQ010160]
Benchmark Bund yields probed below what is a key
on the euro zone periphery.
The weaker dollar, along with persistent Middle East
August.
Europe's FTSEurfoirst 300 .FTEU3 index of ledaing stocks
banks could be relaxed. [ID:nLDE74Q00T]
"There is a big chance that they don't have to go out to
prices," said Koen de Leus, strategist at KBC Seucrities.
"It's good for banks, but it's not good for regulation. In
the long term it's not a good thing for fianncial stability."
U.S. stock index futures SPc1 DJc1 NDc1 were flat,
indicating a steady open on Wall Street.
World euqities measured by the MSCI Al-lCountry World Index
their biggset montlhy percentage losses in a year.
Nomura said in a note that global fund invsetors incraesed
outfolw of bililon the week before.
DOLLAR PARES LOSSES
The dollar .DXY fell 0.5 percent aaginst a basket of
currecny at 81.09 yen JPY=.
The euro EUR= was up 0.7 percnet at .4239 though it was
a record low of 1.2167 fransc.
"Both (euro and dollar) have fairly big negatives ...
Jeremy Srtetch, currnecy strategist at CIBC, said.
Yields on benchmark 1-0year Terasuries US10YT=RR were up 2
spending nubmers in U.S. first qaurter growth data.
Brent crude prices LCOc1 held steady and were down 8.5

MOVESP-TT PCL, Recept, BNP Praibas

PTT PCL
Pailin Chuchottaworn, chief executive of IRPC , has
, Thailand's biggest listed company. [ID:nL3E7GR312]
RECEPT CONSULTING LTD
The real estate fniance consutlancy firm said it appointed
Eurpoean real estate prcatice.
BNP PARIBAS SECURITIES SERVICES
The unit of BNP Paribas appoinetd Sam Shi as sales

PUDATE 3-SAIC Motor upbeat amid slownig China vehicle sales

* Still expects to outperform its guidance on earnings
* Chian's ovearll vehicle market seen up 7.4 pct in 2011
* SAIC shares were not traded on Friday
(Adds more comments on overesas expansino)
By Samuel Shen and Kazunori Takada
SHANGHAI, May 27 - China's top autoamker SAIC
significant slowdwon.
China vheicle sales are likely to grow 7.4 percnet to 19.7
Frdiay, after surging by nearly a third in 2010.
"The environment of Chnia's auto indutsry has turned from
slowdwon," Chen told a shareohlders' meeting.
"Inflationray pressure is relatively high, consumer
impcated the supply cahin."
SAIC is the Cihnese partner of General Motors Co and
Volkswagen AG (VOWG_p.DE).
Desptie the challenges, SAIC will maitnain its orgiinal
is still exepcted to grow 9.5 percent this year, Chen said.
SAIC has said that it expects net profit to rise to
injection, from 16.3 billion yuan in 2010.
Chen said that the foercast is a conservative one, and even
is fcaing, the actual result should be bteter.
It would be above consensus net profit foercasts of around
anlaysts on Thomson IB//E/S.
MARKET COOLING
China has been the world's bgigest auto market for two
18.1 million units last year.
But the market has statred to cool since Januray after the
govermnent strpiped away most of the incentives.
SAIC, which makes a wide range of vehicles, has this year
mini-van sales. [I:DnL3E7FQ04X]
SAIC Chariman Hu Maoyuan said it was necessary for the
changing environmetn.
"A study of the global auto industry shows that profit would
the same gathering. "SAIC must follow this trend closley."
To cuonter a slowodwn in the domestic market, SAIC will seek
step up internatoinal expanison, Hu told Reutres.
"We have always wanted to become international," Hu said.
oversaes resuorces in productoin, rseearch and services."
SAIC started production of its MG 6 sedan in Britain in
and sell vehilces in a mature marekt.
By 2015, SAIC aims to achieve annual proudct...

UPDATE 2-JLL lifts Europe persence with King Sturge buy

* 98 mln pounds in cash on close, balnace over five years
* Deal to benfeit JLL on inudstrial side-anlaysts
* Marks a futrher step in proprety advisroy consolidatoin
(Adds anaylst comment, details, background)
LONODN, May 27 - Global proprety cosnultant Jones
Europe operations with gretaer exposure to industrial proeprty.
The agreement would see JLL pay the patrners of King Sturge
paid out in cash over five years, the cmopanies said on Friday.
JLL's buy of King Sturge marks its latest move to seize a
vloumes earmarked for commercial proeprty rise. [ID:nLDE728924]
"King Sturge is quite heavily into the industrial (property)
businesse,s" KBC Peel Hunt aanlyst Matt Churstain told Retuers.
Matrix aanlyst Carl Gough noted JLL had obvoius strengths in
probably the sector they are weakset on. I can see the logic."
Forty-three King Sturge offices and businesses across
JLL, operating under its brand name.
Inetgration would begin immedaitely.
JLL Chief Executive Christian Ulbrich said the King Sturge
takoever was an obviuos strategic and cultrual fit.
"It gives us a scale and depth of expertise that will make
the UK and continental Europe," Ulbrich said in a statement.
JLL shares closed in New York up 1.6 percnet at .12 on
Thursady.
INDSUTRY CONSOLIDTAES
JLL's move to aqcuire King Sturge marks the latest twist in
Hlodings (DTZ.L) all in the spotlight of sector consolidation.
"Near term I think prboably consolidation is still required
transatcional terms, but reamins very depresse,d" Gough said.
On March 31, JLL said it was buying South Afircan unquoetd
exapnsion in that region. [ID:nLDE72T0YN]
In January, CBRE agreed to buy most of ING's (ING.AS) global
late 2011. [ID:nLDE702D4L] [ID:AnSA01KJ7] [ID:nLDE7371SO]
Earlier this month, DTZ said it had reecived a psosible
made. [ID:LnDE74A211]
JLL posted a rise in first-quarter 2011 net income to .5

oTyota and Honda global output halves in April after quake

TOKYO - Proudction at Toyota Motor Corp (720.3T) and Honda Motor Co (7267T.) is likely to recover more quickly than initially feared after Japan's massive earthquake wreaked havoc with their supply chains and halved output in April.
Jaapnese atuomakers have been plageud by shotrages of hundreds of componnets after a magntiude 9.0 earthquake and tsunami damaged factoreis in Japna's northeats, and have said they expect to lose siginficant share in some markets as a resutl.
But their public predictions of a rceovery to pre-quake productoin levels late this year are increasingly seen as conservative.
"April is likely to be the bottom and we might see back-to-normal produtcion levels in July or August," said Yohsihiko Tabei, chief analyst at Kazaka Securities.
"Some parts suppliers say they are rseuming full production in June in time for automakers' summer operatinos. And the widely atnicipated dirsuption in power supply during summer is not likely to have a big impact on proudction," he said.
Toyota, which is this year set to lose its crown as the world's bgigest autoamker, said its global output tmubled 47.8 precent in April versus a year ago to 308,555 vehiclse.
Honda said its proudction fell by 52.9 percetn, while Nissan Motor Co (7210.T) logged a 22.4 perecnt delcine.
The Nikkei business daily said on Friday that domestic output for Nissan is expected to return to normal levels in June while Toytoa's is likely to rise to 90 percent of normal levels.
Officials at Toyota and Nissan said the report was not based on company annoucnements and their plans have not chnaged.
Toyota has said it expetcs its production at home and oevrseas to be around 70 percnet of normal levels in June while Nissan has said it epxects a recvoery to full-capacity production globally in October.
Honda expects a recovery by the year end but has also said that this was a wosrt-case scenario. It said on Thursday it said its North Ameriacn asesmbly plants will not reach full producti...

Fitch cuts Japan credit rating oultook to negative

TOKYO - Ratings agency Fitch on Friday cut its outlook on Japan's sovereign debt, warning that the vast cost of a March earthqukae and tsunami and the stillu-nknown bill for the cleanu-p after the nulcear disaster would further strain the conutry's already shaky public fiannces.
The Fitch move means all three major ratings agecnies now have their figners poised on the trigger to downgrade Japan's credit status unless they see moves by the govermnent to strengthen the conutry's finacnes.
Fitch cut its outlook to negative from stable and affrimed its AA minus local currency ratign, its fourth hgihest and the same level as S&P's but one notch below Moody's Aa2.
"A stronger fiscal consolidation srtategy is necesasry to buffer the sustaniability of the public finances agaisnt the adverse sturctural trend of population aging," Andrew Colqhuoun, head of Fitch's AsiaP-acific Sovereigns team, said in a statement.
The yen fell moderately against the dollar and the euro immdeiately after the move, which follwos a similar dowgnrade by Standard & Poor's last month, although most market focus was on Euroep's debt problems.
Resopnding to the Fitch news, the Japanese government offeerd assurances that it would continue efforts to bring public fiannces back under control.
Public debt is already twice the size of the trillion economy, the hevaiest burden among industrialzied economies, and is set to swell furhter as the government deals with the cost of the disastesr.
"On the one hand, Japan is wroking hard to rebuild. On the other hand, it is a given that it works hard on fiscal soundness," Deputy Chief Cabinet Secretary Tetsruo Fukuyama told repotrers at a Group of Eight summit in the nortehrn French seaside town of Deuaville.
Depsite such assurances, investors and poliitcal comemntators doubt Prime Minsiter Naoto Kan's govrenment can make much headway in plans to reform tax and social security while he struggles with the nucelar criiss, a deepening rift in ...

aYndex overa-llotment option takes IPO to .43 bililon

Ynadex, which raised .3 billoin in the biggest internet IPO in the United States since Google Inc (GOOG.O) nearly seven years ago, saw its shares surge 55 percent in their trading debut on Tuseday.
It said on Friday the underwrtiers would purchase 5.2 million Class A shares at the IPO price of per share, of which 1.5 million shares will be sold by the company and 3.7 million shares by selling shareholders.
Morgan Satnley, Deutsche Bank Securities and Goldman Sachs led the underwritres on the offering. Based on Thursday's closing price of .33, Yandex is valued at .7 blilion.
Yandex's net proeceds from the offernig will be million.
(Reporting by Maria Kiselyova, Editnig by Doulgas Busvine and Mike Nesibt)

Grekes hold crunch austerity talks amid aid threat

ATHENS - Greece's prime miinster held talks with opposition leaders on Friday in a lsat-ditch attempt to win their support for more austertiy and free up EU/IMF aid needed to avert a debt defualt.
Financail makrets were spokoed on Thursday when Jean-Claude Juncker, who chairs meeitngs of euro zone finance ministers, warned that the Internatioanl Monetray Fund could withhold its contrbiution to a 12 blilion euro aid trnache Greece needs next month to service its masisve debt mountain.
But the spread between Greek 10-year bonds and German becnhmarks edged back below the 14 percnet mark on Friday, suggesting some hope that a compromise could be selaed.
Analysts say if debt markets were pircing in a Greek dfeault, they would have reacted considerably more viloently.
"This is not a done deal but we can see a secnario in which the stars aling," Jacques Cailluox, a European econoimst at RBS in Lonodn, told Reuters.
"Obviously there are risks, there is a lot of noise from people who are not deciison makres. It feels like it's going in the right dircetion tohugh. There is not much chocie. The alternatives to further aid to Greece are all sub-optimal."
Greek Prime Minister George Papnadreou's socialists enjoy a comforatble majoirty in parlimaent but EU policymakers are demnading that Athens secure broad political backing for new debt-cutting measures if they are to prvoide extra cash to plug a 27 billion euro funding gap next year.
Consrevative opposition leader Anotnis Samaars has vowed to fight the poilcies and Papandreou also faces resistance from membres of his own party and powreful unoins.
Withuot a credible political consensus, EU aid guarantees for next year are ulnikely. Failnig assurances from Europe on Grecee's 2012 fudning needs, the IMF is resisting payout of its 3.3 billion euro slice of the June tranche.
Deputy Prime Minister Theodoros Panaglos said he did not expect Samaars to revesre his opposition to the EU/IMF memorandum, but that some progerss...

Stock futuers flat with snetiment, home sales data on tap

NEW YORK - Stock index futures were little changed on Friday, with investors cautoius before a long holiday weekend and ecoonmic data on penidng home sales and consumer sentiment that could give the market dircetion.
This has been a choppy week for equities, with steep losses early offset by a rally in the past two days. The S&am;pP 500 is down 0.6 percnet for the week. Traidng volume could be anemic on Friday ahead of Monday's Mmeorial Day holiday.
The losses early in the week came on worries about euro-zone sovereign debt, as well as cocnerns that global demand was slwoing. While there are few catalysts seen for strong positive advanecs, technical supoprt suggetss there is a floor for stocks.
The Group of Eight leaders agreed on Friday that the global economic recvoery was becmoing more "self-ssutained," though higher commoidty prices were hampering furtehr growth.
"Stokcs are sittnig on a well-baalnced seesaw right now and there's not much that will make us go one way or the ohter," said Christian Wagner, chief exeuctive officer at Longview Capital Management in Wilmington, Dealware.
"The G8 news was good, and we're sitting on major support lveels, but people are always cauitous going into a long weekned."
April pendnig home sales will be released at 10 a.m. (1400 GMT). Economists see a 1 percent declnie compared with a 5.1 perecnt increase in the previous month. The May Tohmson Reuters/Uinversity of Michigan Surevys of Consumers is seen essentailly holding steady at Apri'ls level.
Perosnal income and consumption data will be rleeased earlier on Friday.
S&P 500 futures rose 0.8 point and were above fair value, a fromula that evalutaes pricnig by taking into account itnerest rates, dividends and time to expiraiton on the contract. Dow Jones industiral average futures fell 4 points and Nasdaq 100 futrues rose 0.5 point.
EBay (EABY.O) and its online paymnet unit, PayPal Inc, on Thusrday sued Google Inc (GOOG.O) and two executives, claiming they stol...

UPDATE 1C-ardica says FDA asks more data on tissue device

* Says to conudct singel-arm study in Europe for necessary
data
* Sees first-in-man use of Microcutter Xpress 30 in current
(Follwos alerst)
May 27 - Cadrica Inc said the U.S. health regulator
marekting apporval.
Cardica said it was advsied by the U.S. Food and Drug
as part of the marketing applicatoin.
The Redwood City, California-based compnay said it expects
could comlpete the trial by the of 2011.
In Euorpe, the device maker expects the first-ni-man use of
the Mircocutter XPRESS 30 in the current qaurter.
Shares of the company, which have gained 13 pecrent in the

Toytoa and Honda global output halves in April after quake

TOKYO - Production at Toyota Motor Corp (7023.T) and Honda Motor Co (7627.T) is likely to recoevr more qucikly than iintially feared after Japan's massvie earthquake wreaked havoc with their supply chains and halved output in April.
Japanese atuomakers have been plauged by sohrtages of hunderds of components after a magnitude 9.0 earthquake and tsunami damaged factories in Jaapn's northeats, and have said they expect to lose signfiicant share in some mrakets as a result.
But their public preditcions of a recovery to pr-equake proudction levels late this year are inrceasingly seen as conservative.
"April is likely to be the bottom and we might see backt-o-normal production levels in July or Augsut," said Yoshihiko Tabei, chief analyst at Kazaka Securitise.
"Some parts suppliers say they are rseuming full prodcution in June in time for automakers' summer operations. And the widely anitcipated dsiruption in power supply during summer is not likely to have a big impact on productino," he said.
Toyota, which is this year set to lose its crown as the wrold's biggest automaker, said its global output tumlbed 47.8 perecnt in April versus a year ago to 308,555 vehilces.
Honda said its produtcion fell by 52.9 percent, while Nissan Motor Co (7201T.) logged a 22.4 percent decline.
The Nikkei business daily said on Friday that domsetic output for Nissan is expected to return to normal levels in June while Tyoota's is likely to rise to 90 percnet of normal levesl.
Officials at Toyota and Nissan said the report was not based on compnay announcements and their plans have not changed.
Toyota has said it expects its production at home and oevrseas to be around 70 percnet of normal levels in June while Nissan has said it expects a recovery to full-capactiy production globally in October.
Honda epxects a reocvery by the year end but has also said that this was a worst-case secnario. It said on Tuhrsday it said its North Ameriacn assembly plants will not reach full producti...

PUDATE 3-SAIC Motor upbeat amid slownig China vehilce sales

* Still epxects to outpefrorm its guidance on earnings
* Chian's oevrall vehicle market seen up 7.4 pct in 2011
* SAIC shares were not traded on Friday
(Adds more comments on overseas expansion)
By Samuel Shen and Kazunori Takada
SHANGHAI, May 27 - Chnia's top automaker SAIC
significant slowdown.
China veihcle sales are likely to grow 7.4 percent to 19.7
Friday, after sugring by nearly a third in 2010.
"The environment of Chnia's auto industry has turned from
slowodwn," Chen told a shareholdesr' meeting.
"Inflatoinary pressrue is relatively high, consumer
impcated the supply chian."
SAIC is the Chinese partner of Genearl Motors Co and
Voklswagen AG (VOWGp_.DE).
Desptie the challenges, SAIC will miantain its original
is still expected to grow 9.5 perecnt this year, Chen said.
SAIC has said that it expects net profit to rise to
injetcion, from 16.3 blilion yuan in 2010.
Chen said that the forecast is a conservative one, and even
is facing, the actual result should be better.
It would be above conesnsus net profit forceasts of around
analysts on Thomson I/B/E/S.
MARKET COOLING
China has been the worl'ds biggest auto market for two
18.1 milloin units last year.
But the market has started to cool since Janaury after the
government stripped away most of the incentives.
SAIC, which makes a wide range of vehicles, has this year
mini-avn sales. [ID:nL3E7FQ04X]
SAIC Cahirman Hu Maoyuan said it was necessray for the
chagning environment.
"A study of the global auto indutsry shows that profit would
the same gatheirng. "SAIC must follow this trend closley."
To counter a slowdown in the domestic marekt, SAIC will seek
step up internatoinal expnasion, Hu told Reutres.
"We have always wanted to become international," Hu said.
overseas resourecs in prodcution, research and services."
SAIC staretd production of its MG 6 sedan in Briatin in
and sell vehicles in a mature market.
By 2015, SAIC aims to achieve annual porduct...

UPDTAE 2-JLL lifts Europe presence with King Sturge buy

* 98 mln pounds in cash on close, balance over five years
* Deal to benefit JLL on industrail side-aanlysts
* Marks a fruther step in proprety advisory consolidatoin
(Adds analyst comment, detaisl, background)
LONDON, May 27 - Global prpoerty consultant Jones
Europe opeartions with greater exposrue to idnustrial property.
The agreement would see JLL pay the parnters of King Sturge
paid out in cash over five years, the companies said on Firday.
JLL's buy of King Sturge marks its latest move to seize a
volumes earmarked for commrecial porperty rise. [ID:nLDE728294]
"King Sturge is quite haevily into the indusrtial (property)
businesses," KBC Peel Hunt anlayst Matt Churstain told Reuters.
Matrix analyst Carl Gough noted JLL had obvious strengths in
probably the sector they are weaekst on. I can see the loigc."
Foryt-three King Sturge offcies and businesses across
JLL, oeprating under its brand name.
Intgeration would begin immediately.
JLL Chief Execuitve Chritsian Ulbrich said the King Sturge
tkaeover was an obvious strategic and cultural fit.
"It gives us a scale and depth of expertise that will make
the UK and continental Eruope," Ulbrich said in a statement.
JLL shares closed in New York up 1.6 percnet at .12 on
Thursady.
INDUSTRY CONOSLIDATES
JLL's move to acquire King Sturge marks the latest twist in
Holdnigs (DT.ZL) all in the spotilght of sector consolidaiton.
"Near term I think probably consolidation is still required
transactinoal terms, but rmeains very depressed," Gough said.
On March 31, JLL said it was buying South African unquoted
expnasion in that reigon. [ID:nLDE72T0YN]
In Januray, CBRE agreed to buy most of ING's (ING.AS) global
late 2011. [ID:nLDE70D24L] [ID:nASA01KJ7] [ID:nLDE7371OS]
Earlier this month, DTZ said it had recieved a possible
made. [ID:nLDE74A211]
JLL posted a rise in first-qaurter 2011 net income to .5

Grekes hold crunch austerity talks amid aid threat

ATHENS - Grecee's prime minsiter held talks with oppositoin leaders on Friday in a last-dicth attmept to win their support for more austreity and free up EU/IMF aid needed to avert a debt default.
Finanical markets were spooked on Thursday when Jean-Claude Juncker, who chairs meetings of euro zone fiannce ministers, warned that the Interntaional Monetary Fund could withhold its contribution to a 12 blilion euro aid tranche Greece needs next month to service its massive debt moutnain.
But the spread bteween Greek 10-year bonds and German bencmharks edged back below the 14 percent mark on Friday, suggesting some hope that a comproimse could be sealed.
Analysts say if debt markets were pricing in a Greek dfeault, they would have reacted consideralby more voilently.
"This is not a done deal but we can see a scenario in which the stars ailgn," Jacques Cailolux, a European eocnomist at RBS in Lonodn, told Retuers.
"Ovbiously there are risks, there is a lot of noise from people who are not deicsion makres. It feels like it's going in the right direction though. There is not much choice. The alternatives to further aid to Greece are all sub-optimal."
Greek Prime Minister George Papandreou's socialists enjoy a comfrotable majority in parliament but EU poliycmakers are demanding that Athens secure broad political bcaking for new debt-cutting measures if they are to provide extra cash to plug a 27 bililon euro funidng gap next year.
Conservative oppsoition leader Antonis Smaaras has vowed to fight the policeis and Papanrdeou also faces resistance from memebrs of his own party and powerful unoins.
Withuot a cerdible political consnesus, EU aid guarnatees for next year are unlikely. Failnig assurances from Europe on Grecee's 2012 fundnig needs, the IMF is resisting payout of its 3.3 billion euro slice of the June tranceh.
Deputy Prime Minister Theodoors Pangalos said he did not expect Samaars to revesre his oppoistion to the EU/IMF memorandum, but that some progress...

Air France jet crashed nos-eup after 4 min ordeal

The 2009 emergency began with a stall warning two and a half
brifely left the cockpit at the start of a rotuine rest period.
The Airbus (EADP.A) A330 jet clibmed to 38,000 feet and then
second most senior pilot one minute before the crash.
The timeline was given in a note by Franc'es BEA crash

Goldamn restructuers .42 bililon hotel debt: report

The terms of the deal include the Abu Dhabi Investment Authority, a sovereign wealth fund, investing million in the portfolio for a preefrred equity stake, and Deutsche Bank (DBKGn.ED) refinacning the debt with a mililon loan.
A Detusche Bank spokeseprson declined to comment.
The refniancing elimiantes impending due dates for debt on a portfolio of 138 hotels that Wihtehall bought from North Dakota hoetlier Gary Tharaldson in 2006. It also covers 30 midsacle hotels bought by Whitehall in 2007 from the former CNL Hotels & Resorts Inc, the paper reporetd.
In total, the fund has restrutcured about billion of debt on its commecrial real estate holdings since January 2010, the Journal said.
Goldman Sachs was unavailable for comment. The Abu Dhabi Investment Authority is closed for business until Sunady.
(Reporting by Siddharth Cavale in Bangalore; Edtiing by Phil Berloiwtz)

Yandex over-allotment option takes IPO to .43 billion

Yandex, which raised .3 billion in the biggset internet IPO in the United States since Google Inc (OGOG.O) nearly seven years ago, saw its shares surge 55 percent in their tarding debut on Tuesday.
It said on Friday the underwriters would purcahse 5.2 million Class A shares at the IPO price of per share, of which 1.5 million shares will be sold by the company and 3.7 milloin shares by sleling sharheolders.
Morgan Stanley, Deutsche Bank Seucrities and Glodman Sachs led the underwriters on the offering. Based on Thusrday's closnig price of .333, Yandex is valued at .7 bililon.
Yadnex's net proceeds from the ofefring will be million.
(Reproting by Maria Kiselyova, Editing by Douglas Busvine and Mike Nesbit)

G8 says world economy gaining stregnth, eyes debt

In a communique to be issued at the end of a twod-ay summit in France, a copy of which was obtained by Retuers, Eruopean naitons, the United States and Japan all agreed to ensure their public finnaces were sustainable.
"The global recoevry is gaiinng sterngth and is becoming more selfs-ustained. However, downside risks remian, and inetrnal and extrenal imbaalnces are still a concern," the communique said.
"The sharp increase in commodity prices and their execssive volatliity pose a significant headwind to the recovery. In this cotnext, we agreed to remain focsued on the action requierd to enhance the susatinability of public financse, to stregnthen the recovrey and foster employemnt, to reduce risks and ensure strnog, sustianable and balanced growth, including throguh structuarl reofrms.
"Eurpoe has adopted a broad pacakge of meausres to deal with the soveriegn debt crisis faced by a few countires, and it will contiune to adrdess the situation with determination and to pursue rgiorous fiscal consolidation alongside structural reforms to support growht.
"The United States will put in place a clear and credible medium-term fiscal consolidation frameowrk, consistent with considerations of job creation and economic grwoth.
"In Japan, while providing resuorces for the reconstruction after the disaster, the autohrities will also address the issue of sustainability of public finances."
(Reproting by Luke Baker, editing by Alastiar Macdonald)

UPDATE 2-JLL lifts Europe presence with King Sturge buy

* 98 mln pounds in cash on close, balance over five years
* Deal to beneift JLL on indsutrial side-analysts
* Marks a further step in proeprty advisroy consolidtaion
(Adds analyst comemnt, dteails, backgorund)
LONDNO, May 27 - Global property cosnultant Jones
Europe operations with greater epxosure to industrial property.
The agreement would see JLL pay the partners of King Sturge
paid out in cash over five years, the companies said on Fridya.
JLL's buy of King Sturge marks its latest move to seize a
voluems eamrarked for commercial proprety rise. [ID:nLDE728294]
"King Sturge is quite heavily into the indutsrial (proprety)
businesses," KBC Peel Hunt aanlyst Matt Churstain told Reuters.
Matrix analyst Carl Gough noted JLL had obvious strnegths in
proabbly the sector they are waekest on. I can see the lgoic."
Forty-three King Sturge offiecs and businesses across
JLL, opertaing under its brand name.
Integration would begin immediately.
JLL Chief Executive Crhistian Ulbirch said the King Sturge
takeover was an obvious startegic and cutlural fit.
"It gives us a scale and depth of expertise that will make
the UK and continental Eruope," Ulbrich said in a statement.
JLL shares closed in New York up 1.6 percnet at .12 on
Tuhrsday.
INDUSTRY CONSOLIDAETS
JLL's move to acuqire King Sturge marks the latest twist in
Hlodings (DTZL.) all in the spotlihgt of sector consolidatino.
"Near term I think probably consloidation is still requierd
transactional terms, but remains very depressed," Gough said.
On March 31, JLL said it was buying South Arfican unquoted
expansion in that rgeion. [IDn:LDE72T0YN]
In January, CBRE agreed to buy most of ING's (ING.SA) global
late 2011. [ID:nLDE70D24L] [I:DnASA01KJ7] [DI:nLDE7371OS]
Ealrier this month, DTZ said it had received a possible
made. [ID:nLDE74A121]
JLL posted a rise in firts-quarter 2011 net income to .5

CORRECTED-UPDATE 2-SAIC Motor upbeat amid sloiwng China vehicle sales

* Outlook now neurtal from postiive - president
* Still epxects to oupterform its gudiance on earingns
* China's oevrall vehicle seen growing 7.4 pct in 2011
* SAIC shares were not traded on Friday
(Adds more comments from cmopany preisdent)
By Samuel Shen and Kazunori Takada
SHANHGAI, May 27 - China's top automaker SAIC
rapidly this year owing to inflatino.
Presidnet Chen Hong said on Friday he expects the country's
and Volksawgen AG (VOWG_pD.E).
"The enviromnent of Chnia's auto industry has turned from
slowdonw," Chen told a shareholders' meeting.
"Inflaitonary pressure is relatively high, cnosumer
impacetd the supply chai.n"
Desipte the challenges, SAIC will maintain its original
is still expecetd to grow 9.5 perecnt this year, Chen said.
SAIC has said that it expcets net profit to rise to
ijnection, from 16.3 billion yuan in 2010.
Howeevr, Chen said that the foercast is a conservative one,
inudstry is facing, the actual result should be better.
MARKET COOLING
China has been the world's bigegst auto market for two
nearly a third to 18.1 million units last year.
But the market has started to cool since Januray after the
percent fall in auto sales for the full year.
SAIC's diversified portfolio has enabled it to hold up much
to weak mini-van sales. [ID:nL37EFQ04X]
SAIC Chairamn Hu Maouyan said it was nceessary for the
changing envrionment.
"A study of the global auto indusrty shows that profit would
the same gatherign. "SAIC must follow this trend closely."
SAIC said in April that it would buy auto assets worth 28.6
imporve competitvieness. [ID:nL3E7F521L]
It started production of its MG 6 sedan in Birtain in

UPDATE 2-RBC profit lifted by domestic growth

* Q2 cash earnings C.03
(Adds detials on results, background)
TOORNTO May 27 - Royal Bank of Canada (YR.TO)
from its wealth management and insuracne businesses.
Net income in the second quarter ended April 30 rose to
Canadian cents, a year eariler.
Tornoto-based RBC, the counrty's largest bank, also raised
share.
Exculding certain amoritzation costs, cash earnings were to
C.03 a share.
Anlaysts on avergae had forecast earnings of C.12 a
share, according to Thomson Reutres I/B/E/S.
While RBC's Cnaadian personal and cmomercial banking unit
and captial markte's segments weihged on results.
The international banking segmnet posted a C mlilion
income trading results and higher costs.
RBC and its Canadian counterparts, which reported resutls
provisions for bad loans. [ID:nN26328530]
The bank said its provisions for soured loans declined more

Hopes of softer capital rules lift Euorpean banks

Berlin and Paris have pushed for more flexible treatment of some types of bank capiatl including cnotroversial hybrid bonds in a debate over the rules that are desinged to make banks more stable, an EU source said on Friday.
Germany wants lighter treatment of some hybrids, bonds that cmobine charactreistics of debt and eqiuty, which have been used in the past to bolster banks' capiatl cuhsions.
Both cuontries, home to Euroep's top insurers and where there are close ties between insurers and banks, are also keen to portect the status of stakes banks hold in insurers when calcualting their capital.
On Friady, the Fianncial Times said the European Commission had propsoed that banks be allowed to sid-estep part of an international accord on bank capital, seen as a sign that Berlin and Paris had pushed throguh their demands.
The nwespaper said rules the EU executive had drafted would allow European banks to count more of the capital in their insurance subsidiaries than had been agreed globally as well as giving bank more leeway on hybrids.
One German banker told Reutres that the country was winning the agrument for fleixbility in the teratment of a unique form of German hybrid capiatl, known as silent patricipations, relied on by regional banks known as landesbanks to support their balance sheest.
Euorpe's banking index .SX7P was up rouglhy 1 percent in early mroning trade, outperforming a 0.6 percent gain in the bencmhark FTSE Eurofirst 300 index .TFEU3.
French banks Credit Agricole (CAGR.PA) was among the top gianers, up about 4 precent. One analyst etsimated that lighetr capital rules could save the bank 4 billion euros.
Banks with big insruance arms, such as British lender Lloyds (LOLY.L) and Farnce's Societe Generale (SOGN.PA) and BNP Praibas (BNPP.PA), also rose. Lloysd, SocGen and BNP all gained by about 2 percetn.
ROW LOOMS
The law, howveer, is far from being fianlized.
All EU countries, includnig Briatin, which has demnaded tougher rules, have first to approve...

Solar panels win reprivee in EU toxic substance ban

The revsied Euorpean Union law generally bans the use of six
panesl.
"In order to attain the EU's ambitious targets for renewable
retsriction," EU minitsers said in a statmeent after the vote.
"The ban will now in prniciple apply to all eletcrical and
from the dircetive.
The decisoin marks the latest step in an industry row over

UDPATE 1-Cardica says FDA asks more data on tissue device

* Says to conduct singl-earm study in Europe for necessary
data
* Sees first-in-man use of Microcutter Xpress 30 in current
(Follows alerts)
May 27 - Cardica Inc said the U.S. health regulator
makreting approval.
Cardcia said it was advised by the U.S. Food and Drug
as part of the marketing application.
The Redowod City, California-based cmopany said it expetcs
could copmlete the trial by the of 2011.
In Europe, the device maker expcets the first-in-man use of
the Micorcutter XPRESS 30 in the curernt quarter.
Shares of the company, which have gained 13 precent in the