Goldman climbs to top commodity bank ranking over JP Morgan LONDON

Goldman Sachs became the top commodities bank last year, overtaking rival JP Morgan, a consultancy said on Friday.

Africa

Ethiopia launches 4G mobile service in the capital

Ethiopia's state-run telecoms monopoly has launched a fourth generation (4G) mobile service in the capital Addis Ababa, aiming to catch up with the high-speed communications available in some east African neighbors such as Kenya and Uganda.

Russia's Galchev rejects terms of Holcim/Lafarge merger: newspaper

Russian businessman Filaret Galchev, who owns a 10.8 percent stake in Switzerland's Holcim (HOLN.VX) via Eurocement Holding AG, has rejected the takeover offer that France's Lafarge (LAFP.PA) has made for Holcim, a Swiss newspaper reported on Sunday.

Dow Chemical to sell most chlorine assets in $5 billion deal

Dow Chemical Co (DOW.N) will separate a portion of its century-old chlorine business and sell it to Olin Corp (OLN.N) in a tax-efficient deal worth $5 billion as part of efforts to shed low-margin assets.

America Movil may not face tougher regulation without asset sale: regulator

Mexico's telecom regulator will not necessarily impose tougher rules against billionaire Carlos Slim's America Movil if it does not go ahead with a plan to sell off assets, the head of the regulatory agency said in an interview on Friday.

Thousands march through Rome against Renzi's labor reform

Tens of thousands of workers marched through the center of Rome on Saturday against Prime Minister Matteo Renzi's reform of the labor market, headed by a popular union chief who is seen by many as a possible future leader of Italy's left.

Creditors offer Puerto Rico's troubled utility $2 bln financing - sources

Creditors of Puerto Rico's power authority, PREPA, have offered it $2 billion in financing, including $1.2 billion to fund a new natural gas operation, in exchange for assurances that it would repay its debt, two people close to the matter told Reuters on Saturday.

Best Buy warns of profit hit as it consolidates Canadian stores

Best Buy Co Inc (BBY.N) plans to close some stores and consolidate its operations in Canada, the U.S. electronics retailer's second-largest market, in a move that will hurt earnings this year, the company said on Saturday.

Trading house Trafigura wins huge chunk of Rosneft oil supply

Trafigura [TRAFGF.UL] is emerging as the new king of Russian oil trading, expanding its deal with sanctions-hit Rosneft to export $500 million worth of crude in April from the Baltic, the Mediterranean and Pacific ports, market sources said.

President Xi says China should not focus on growth rate only

Chinese President Xi Jinping said on Saturday that the country should not focus on its economic growth rate only, reiterating China's push for a more sustainable, higher-quality expansion.

Mercedes to launch a pickup truck outside the United States

German carmaker Mercedes-Benz plans to launch a mid-sized pickup truck, expanding its premium brand into a lower-priced bracket in a bid to narrow the sales gap with arch rival BMW (BMWG.DE).

Ford CEO Fields received $18.6 million in 2014 compensation

Ford Motor Co (F.N) Chief Executive Officer Mark Fields made $18.6 million in salary and other compensation last year, below the $23.2 million that predecessor Alan Mulally received in 2013, the company said on Friday.

Platinum Equity nears deal for Itochu's PrimeSource: sources

Private equity firm Platinum Equity LLC is in advanced talks to buy PrimeSource Building Products Inc, the largest distributor of screws and nails in the United States, from Itochu Corp (8001.T), according to people familiar with the matter.

Neither Grexit, nor Grexident. Euro and 'drachma' in parallel?

Greece is unlikely to exit the euro, either intentionally or accidentally. But it might be forced to introduce an alternative means of payment, in parallel to the euro, to pay some domestic bills if a reform-for-cash deal with its creditors is not secured soon, several euro zone officials said.

South Korea sees gains for its infrastructure firms from joining AIIB

South Korea hopes its infrastructure companies will benefit from the country joining the China-backed Asian Infrastructure Investment Bank (AIIB), the finance ministry said on Friday.

U.S. Treasury's Lew to press China on currency: officials

U.S. Treasury Secretary Jack Lew will press Chinese officials next week to adopt a more market-determined exchange rate policy, and the Obama administration thinks further yuan appreciation would help the global economy, Treasury officials said on Friday.

As 3G digests Kraft deal, rivals will focus on organic firms

The macaroni and ketchup merger of Kraft Foods Group (KRFT.O) and H.J. Heinz Co may prove a boon to the far smaller natural and organic food companies that have seized market share as consumers shift away from processed foods, bankers and portfolio managers said.

Oil dives 5 percent as worries about Iran talks trump Yemen

Oil tumbled 5 percent on Friday, erasing the previous session's gains, as Yemen's conflict looked less likely to disrupt Middle East crude shipments and investors turned their focus to talks for a potential Iran nuclear deal that could put more supply on the market.

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