Bank of England confirms EU exit research after email misfire

The Bank of England plans to assess the implications of a possible British exit from the European Union, it said in a statement, confirming an email it inadvertently sent to a newspaper about the supposedly confidential research project.

Fiat Chrysler CEO approached GM about a merger, was rebuffed: NYT

As part of his quest for a mega merger, Fiat Chrysler Automobiles Chief Executive Sergio Marchionne sent an email to General Motors Co Chief Executive Officer Mary Barra in March suggesting combining the automakers but was rebuffed, the New York Times reported on Saturday.

China and Peru agree to study transcontinental rail link

China and Peru have agreed to study the feasibility of a controversial 5,300 km (3,300 miles) transcontinental railroad that will connect Peru's Pacific coast with Brazil's Atlantic coast, China's official Xinhua News Agency reported.

Berlusconi says still looking for an investor in AC Milan

Italian media tycoon and former prime minister Silvio Berlusconi is still looking for a co-investor in AC Milan to help revive the fortunes of the Serie A soccer club which he has owned for nearly three decades.

In China, P2P lenders offer some relief to small entrepreneurs

When Chinese flight booking operator Baitour needed cash to grow its business last year, it opted against using Industrial and Commercial Bank of China, its long-term lender and the world's largest bank, turning instead to Internet finance startup Jimu Box.

Alibaba's latest gambit in fighting fakes: foster local brands

Criticized and even sued by luxury brand Gucci and others for facilitating the counterfeit goods trade, Chinese e-commerce giant Alibaba Group Holding Ltd has been quietly piloting a scheme to try to curb fakes at source.

Daimler and Qualcomm to develop in-car tech, wireless charging

Carmaker Daimler on Saturday announced a partnership with mobile technologies company Qualcomm Inc. to explore wireless recharging of mobile phones in cars as well as recharging of electric cars without cables.

Beijing promises coal-free power by 2017 to fight pollution

Beijing will build four gas-fired power and heating plants by next year and shut the last of its coal-fired generators by 2017 as part of its campaign against hazardous air pollution, officials said.

Thailand passes first inheritance tax to raise revenue in lackluster economy

Thailand's military government has passed the country's first inheritance tax bill, as part of tax reforms to broaden the tax base and boost revenue in a lackluster economy.

ECB's Draghi urges euro zone to unite for economic reform

European Central Bank President Mario Draghi has urged euro zone countries to unite in the task of reforming the bloc's economies, saying sharing sovereignty was an opportunity and not a threat.

Cigarette maker ITC misses profit estimates

India's largest cigarette maker, reported a lower-than-expected quarterly profit as higher taxes on smokes and a government push to discourage tobacco consumption hurt business.

India's top bank SBI says bad loan pressure easing

State Bank of India, the nation's top lender by assets, posted better-than-expected quarterly bad debt levels on Friday and said it now expected an improvement, a long-awaited sign of easing pressure that helped its shares jump over five percent.

BlackBerry cuts jobs worldwide as it consolidates businesses

Canadian smartphone maker BlackBerry Ltd is cutting jobs across the world, the company said on Friday, as it consolidates its software, hardware and applications business.

Citigroup selling retail online FX trading platform to FXCM, Saxo Bank

Citigroup said on Friday it is selling its margin foreign exchange business, including the CitiFX Pro and TradeStream platforms to U.S.-based FXCM and Danish investment bank SAXO Bank.

Contest for Nokia's HERE seen as a three-way race

The contest for Nokia's (NOK1V.HE) maps business has become a three-way race between German carmakers, a consortium including Uber and Baidu, and a third group including China's Tencent and Navinfo, people familiar with the process said.

Oil down 2 percent ahead of long U.S. Memorial Day weekend

Oil fell about 2 percent on Friday as a rallying dollar and profit-taking ahead of a long U.S. holiday weekend cut short a two-day run-up in crude prices.

Altice seeks financing for Time Warner Cable bid: sources

French telecommunications group Altice SA is talking to several banks about raising debt for a potential bid for Time Warner Cable Inc, the second-largest U.S. cable operator, according to people familiar with the matter.

China's Didi Kuaidi ups stakes in taxi apps war

China's dominant taxi-hailing firm Didi Kuaidi will spend 1 billion yuan ($161.39 million) on promotions, the company said on Friday, in an aggressive expansion that will help lure in riders and fend of rivals like U.S. firm Uber Technologies Inc.

U.S. Senators urge Obama administration to block Arctic oil drilling

A group of 18 mostly Democratic U.S. senators on Friday urged the Obama administration to stop Royal Dutch Shell's preparations for oil exploration in the Arctic, saying the region has a severely limited capacity to respond to accidents.

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