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Monday, May 28, 2012

Daily Investor Briefing: European shares, euro gain as Greek...

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05/28/2012
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European shares, euro gain as Greek fears ease
LONDON (Reuters) - European stocks rose for a third straight session on Monday and the euro bounced back from two-year lows, as Greek polls showing growing support for pro-bailout parties eased speculation about a disorderly exit by Athens from the single currency.
RIM's top lawyer joins parade of resignations
TORONTO (Reuters) - The top lawyer at Research In Motion Ltd has resigned and will soon leave the struggling BlackBerry maker, RIM said on Monday, joining a parade of long-time company executives to depart since Thorsten Heins took over as CEO earlier this year.
Woodford whistleblowing case delayed by judge
LONDON (Reuters) - The case for unfair dismissal brought by former Olympus CEO Michael Woodford following the uncovering of one of Japan's biggest corporate frauds was delayed on Monday, sparking talk of an out-of-court settlement.
Spanish debt costs spiral as crisis deepens
MADRID (Reuters) - Spanish 10-year borrowing costs neared the 7 percent danger level and Bankia shares hit record lows on Monday after the government, struggling to sort out its finances, proposed putting sovereign debt into the struggling lender.
U.S. data, Europe woes to set tone
NEW YORK (Reuters) - Investors will grapple next week with major U.S. economic reports and the looming possibility of a Greek exit from the euro zone, which is likely to keep dragging on equities for weeks to come.
Xstrata committed to Peru despite protest
LIMA (Reuters) - Protests at Xstrata's Tintaya copper mine in southern Peru have blocked transport links, but it is operating normally and its port on the Pacific coast has stocks of concentrates for the time being, a company executive said on Monday.
Iraq set to auction new oil, gas blocks
BAGHDAD (Reuters) - Iraq will auction 12 new oil and gas exploration blocks this week in a fourth energy bidding round, as it seeks the rapid expansion of a sector vital to its economy, but tough contract terms mean Baghdad may struggle to drum up major interest.
Spanish debt costs spiral as crisis deepens
MADRID (Reuters) - Spanish 10-year borrowing costs neared the 7 percent danger level and Bankia shares hit record lows on Monday after the government, struggling to sort out its finances, proposed putting sovereign debt into the struggling lender.
Court cuts jail sentence of ex-Bank of Italy boss
MILAN (Reuters) - An appeals court sentenced former Bank of Italy governor Antonio Fazio to two-and-a-half years in jail on Monday for trying to thwart a foreign takeover of local lender Banca Antonventa in 2005, a scandal that led to his exit from the central bank.
Insight: European firms plan for Greek unrest and euro exit
LONDON (Reuters) - British electrical retailer Dixons has spent the last few weeks stockpiling security shutters to protect its nearly 100 stores across Greece in case of riot.
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