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Ukrainian government forces on Wednesday warned separatists in the eastern town of Donetsk that a plan was now in place to take back the territory they occupy, but defiant rebels reported a steady flow of new recruits who were ready to fight. The Ukrainian military pushed the rebels out of their best-fortified stronghold in the town of Slaviansk on Saturday, but they have regrouped for a stand in Donetsk, a city of nearly a million people. Rebels also still control strategic buildings in Luhansk near the Russian border. Separatists said on Tuesday that Igor Strelkov, a Russian military officer from Moscow who until the weekend led rebels in Slaviansk, had assumed command of the "defense of Donetsk". President Petro Poroshenko has ruled out using air strikes and artillery that might endanger civilians and said on Tuesday night: "There will be no street fighting in Donetsk." But the government says it has a plan to retake Donetsk and Luhansk and deliver a "

Iraqi security forces found 53 corpses, blindfolded and handcuffed, south of Baghdad on Wednesday as Shi'ite and Kurdish leaders traded accusations over an Islamist insurgency raging in the country's Sunni provinces. Officials said dozens of bodies were discovered near the mainly Shi'ite Muslim village of Khamissiya, with bullets to the chest and head, the latest mass killing since Sunni insurgents swept through northern Iraq. "Fifty-three unidentified corpses were found, all of them blindfolded and handcuffed," Sadeq Madloul, governor of the mainly Shi'ite southern province of Babil, told reporters. He said the victims appeared to have been killed overnight after being brought by car to an area near the main highway running from Baghdad to the southern provinces, about 25 km (15 miles) southeast of the city of Hilla. The identity and sectarian affiliation of the dead people was not immediately clear, he said. Sunni militants have been carrying out att

Russia's economy is stagnating as data showed on Wednesday that capital worth $75 billion has left the country so far this year following sanctions on Moscow over its involvement in Ukraine. "We have for now a period of stagnation, or a pause in growth," Deputy Economy Minister Andrei Klepach was quoted as saying in an interview where he also said that GDP was flat from April to June after shrinking 0.5 percent in the first quarter. Klepach, speaking to Interfax news agency, noted that the second-quarter figure of zero growth over the three months, previously unpublished, indicated that Russia had avoided a "technical recession" - two successive quarters of GDP decline. But central bank data on capital flight showed investors are concerned about the state of the $2 trillion a year economy. Though the outflow slowed in the second quarter, the $75 billion that left in the six months to June already surpassed the $62.7 billion capital flight seen for the whole

The U.S. dollar weakened against the euro and the yen on Wednesday after the Federal Reserve's June meeting minutes kept a dovish tone in a statement that was devoid of any large surprises. The Fed has begun detailing how it plans to ease the U.S. economy out of an era of loose monetary policy, indicating it will end its asset purchases in October and appearing near agreement on a plan to manage interest rates, according to the minutes. "A lot of what was said in the FOMC minutes we already knew, and we knew quite well," said John Kicklighter, senior currency strategist at DailyFX in New York. The dollar fell to $1.3643 against the euro, from $1.3624 before the minutes were released. The greenback dropped to 101.57 yen against the Japanese currency, from 101.75 before the minutes. The dollar has struggled to break above relatively tight ranges against the euro and the yen as Treasuries yields stay relatively low, with investors looking for stronger signals that the e

BNP Paribas SA : * Formally pleads guilty to conspiring to violate U.S. sanctions -- court _0"> hearing * Plea is accepted by U.S. district judge lorna schofield in Manhattan * Bnp paribas' plea is entered by the bank's general counsel

BNP Paribas, for the second time in nine days, pleaded guilty on Wednesday to conspiring to violate U.S. sanctions, as part of a nearly $9 billion settlement in which the French bank admitted to breaking embargoes against Sudan, Cuba and Iran. Prosecutors had accused the bank of processing billions of dollars of transactions through the U.S. financial system on behalf of Sudanese and others barred from doing so because of their countries' human rights abuses, support for terrorists and other national security concerns. U.S. District Judge Lorna Schofield accepted the plea at a hearing in Manhattan federal court. The plea was entered by the bank's general counsel, Georges Dirani. BNP Paribas admitted to having conspired from 2004 to 2012 to violate the International Emergency Economic Powers Act and the Trading with the Enemy Act. The U.S. Justice Department unveiled the record settlement on July 1, when the bank pleaded guilty in New York state court to charges of falsify

A federal judge on Wednesday rejected PricewaterhouseCoopers' request to dismiss a $1 billion lawsuit accusing the auditor of providing bad accounting advice that contributed to the October 2011 collapse of MF Global Holdings Ltd, a brokerage run by former New Jersey Governor Jon Corzine. U.S. District Judge Victor Marrero rejected PwC's argument that the MF Global's bankruptcy plan administrator, which brought the lawsuit, "stands in the shoes" of the company under the "in pari delicto" legal doctrine, and cannot recover because Corzine and other officials were also to blame for the collapse. Marrero has yet to review other PwC arguments for dismissal, including that the administrator had no authority to sue and did not show that the accounting advice was a "proximate" cause of MF Global's bankruptcy. A PwC spokesman had no immediate comment. The auditor's lawyer did not immediately respond to a request for comment. The March 28

BNP Paribas, for the second time in nine days, pleaded guilty on Wednesday to conspiring to violate U.S. sanctions, as part of a nearly $9 billion settlement in which the French bank admitted to breaking embargoes against Sudan, Cuba and Iran. Prosecutors had accused the bank of processing billions of dollars through the U.S. financial system on behalf of the Sudanese and others barred because of human rights abuses, support for terrorists and other national security concerns. U.S. District Judge Lorna Schofield accepted the plea at a hearing in Manhattan federal court. The plea was entered by the bank's general counsel, Georges Dirani. BNP Paribas admitted to having conspired from 2004 to 2012 to violate the International Emergency Economic Powers Act and the Trading with the Enemy Act. The U.S. Justice Department unveiled the record settlement on July 1, when the bank pleaded guilty in New York state court to charges of falsifying business records and conspiracy brought by M

The dollar started at one-week lows against a basket of major currencies on Thursday, coming under some pressure after minutes of the Federal Reserve's June meeting gave no clear indication on when interest rates will rise. The minutes confirmed that the Fed's monthly bond purchases would end in October and that policymakers debated about the complexities of unwinding a stimulus program that had flooded the financial system with over $2 trillion. Wall Street bounced back from a two-day selloff in the absence of any guidance on whether rates will be raised by mid-2015 as speculated, Treasury yields rose while the dollar was sold down. The dollar index shed about 0.2 percent to a one-week low of 79.983, where it hovered early in Asia. Benefiting from renewed softness in the greenback, the euro rose to a one-week high of $1.3649. "The market had likely positioned for a hawkish tone to the minutes given the upward revisions to Fed rate forecasts, as well as the fact that

China's central bank governor Zhou Xiaochuan said on Thursday that the government would increase the flexibility of the yuan currency and reduce market intervention. _0"> He was speaking on the sidelines of annual high-level talks between China and the United States. (Reporting by Kevin Yao; Writing by Ben Blanchard ; Editing by Kim Coghill)

The dollar traded around one-week lows against a basket of major currencies on Thursday, coming under pressure after minutes of the Federal Reserve's June meeting gave no clear indication about the timing of any interest rate rise. The Australian dollar, meanwhile, slipped after a rise in the country's jobless rate raised concern about its stalled economy and stoked expectations that interest rates may remain on hold for months to come. The Fed minutes confirmed that the U.S. central bank's monthly bond purchases would probably end in October and showed that policymakers debated the complexities of unwinding a stimulus program that has flooded the financial system with over $2 trillion. The uncertain outlook for the timing of the Fed's move has kept major currencies in relatively tight ranges in recent weeks. "The Fed is driving the station wagon right now, with everybody in the back. We're expecting rates to go higher, and there are side bets on when that

Most Asian stock markets rose and the dollar dipped on Thursday after the Federal Reserve indicated it was in no rush to begin raising interest rates, even as it began to plan an exit strategy from an era of loose monetary policy. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 percent. European shares looked set to follow suit, with Germany's DAX seen rising up to 0.1 percent, though U.S. stock futures were marginally weaker. Tokyo's Nikkei bucked the trend and fell 0.3 percent, weighed down by a record drop in machinery orders in May that cast doubt over the outlook for capital spending and the strength of its economic recovery. China's exports in June also missed market forecasts, but caused limited reaction in regional markets as it reinforced expectations that Beijing will have to unveil more stimulus measures to stabilise the economy and meet its 2014 growth target. "The trade figures were not so exciting. It's still unrealis

Greek yields dipped on Thursday as the aid recipient readied an issue of three-year bonds in its second debt sale since its default, taking advantage of a European Central Bank promise to make long-term loans to banks. The sale is expected to raise 3 billion euros and follows a five-year bond sale in April, which marked one of the fastest market comebacks by a sovereign following a debt restructuring. It is also signalling Greece's gradual emergence from a debt crisis that started in 2010 and spread to other countries in the euro zone at its peak in 2011 and 2012, when Athens imposed heavy losses on private bondholders. Although Greece is expected to come out of a six-year recession in 2014 and is running a budget surplus excluding interest rate payments, the renewed interest for its bonds has a more powerful force behind it. The ECB's ultra-easy monetary policy has pinned yields on top-rated bonds at record lows and pushed investors towards riskier assets to maximise retu

China is committed to reducing its intervention in the foreign exchange market and is preparing to increase the transparency of its currency policy, U.S. Treasury Secretary Jack Lew said on Thursday. _0"> U.S. Secretary of State John Kerry said separately that China and the United States had a frank exchange about cyber security issues and agreed to continue those discussions. Lew and Kerry were speaking at the end of annual high-level talks between China and the United States. (Reporting by Lesley Wroughton ; Writing by Ben Blanchard ; Editing by Dean Yates)

The dollar was stuck near one-week lows against a basket of major currencies on Thursday, staying on the back foot after minutes of the Federal Reserve's June meeting gave no clear indication about the timing of an interest rate rise. In the European session, the Swedish crown rose to a one-week high against the euro after data showed consumer prices in Sweden rose more than expected. That drove some investors to trim short bets against the currency made after a sharp interest rate cut by the country's central bank last week. The focus though was on the dollar. The Fed minutes confirmed the U.S. central bank's monthly bond purchases would probably end in October and showed that policymakers debated the complexities of unwinding a stimulus program that has flooded the financial system with over $2 trillion. The uncertain outlook for the timing of the Fed's move has kept a lid on Treasury yields, with the two-year yield also hovering near one-week lows at around 0.48

European shares were back in negative territory on Thursday, a brief lift from U.S. Federal Reserve meeting minutes proving short-lived as investors worried whether markets could go it alone without the U.S. central bank's emergency support. Faith in a rally in share prices dating back almost three years has more shaky over the past month than for some time, as the Fed nears what looks like a definitive end to its programme of new money-printing. The minutes from the U.S. central bank's last meeting, published after European markets had closed on Wednesday, offered no sign it was any closer to following that with a swift rise in official interest rates to cool the economy. That boosted U.S. and Asian markets overnight. But the dominant concern at the European open was over companies' results and the economy's ability to survive without the new funds which the Fed's bond-buying has forced into the system every month. Norway's largest bank DNB added to an ina

U.S. and Chinese leaders have agreed that China will reduce its intervention in the currency market when conditions are ripe, reaching an understanding on a prickly issue that has hurt ties between the world's two biggest economies for years. China's Central Bank Governor Zhou Xiaochuan said on the sidelines of annual high-level talks between the two nations that China will "significantly" reduce its yuan intervention when some prerequisites are met. He did not give further details. Analysts said Zhou's unusual candour about China's currency intervention, which was echoed earlier on Wednesday by the Chinese finance minister, suggested that China may be ready to let the yuan rise again once its economy stabilises. Indeed, U.S. Treasury Secretary Jack Lew told reporters at the end of talks on Thursday that China was committed to reducing its interference with the yuan, "as conditions permit". China will also increase the transparency of its curren

SSP Group has priced its London float at 210 pence per share, the bottom of its revised range, giving the owner of Upper Crust and Caffe Ritazza a market valuation of just under 1 billion pounds ($1.7 billion), the Telegraph reported on Wednesday. The price range for SSP's IPO-SSPG.L initial public listing was narrowed twice, with the final refined range between 210 to 215 pence per share, the daily said, without naming sources. ( bit.ly/1zpIKWK. ) The company is headed by retail veteran Kate Swann. The paper had earlier on Tuesday reported that the food and beverage company's price range had been narrowed to between 210 pence per share and 230 pence per share, from between 200 pence per share and 240 pence per share. A spokesman for the company declined to comment. SSP operates food and drink outlets in airports and railway stations in 29 countries. ($1 = 0.5877 British Pounds) (Reporting by Esha Vaish in Bangalore, editing by Louise Heavens and Cynthia Osterman )

Global investment company Kohlberg Kravis Roberts & Co LP has joined with Pacific Equity Partners (PEP) to ready a joint bid for compliance company SAI Global, Australian media reported on Thursday. _0"> The two companies are said to be preparing an offer for the standards, assurance and information business, with a bid expected by the July 15 deadline, the Australian Financial Review said. PEP launched a A$1.1 billion ($1.0 billion) non-binding proposal for SAI in May, but the compliance company said other potential buyers had contacted it and decided to publish information about its business for all those interested. Reuters reported in late June that at least two other parties were interested in acquiring PEP. KKR has earmarked expansion in Australia, although a A$2.90 billion takeover offer for Treasury Wine Estates rejected in May. ($1 = 1.0629 Australian Dollars) (Reporting by Colin Packham; Editing by Richard Pullin )

India's Essar Global Fund Ltd is selling the U.S. operations of Aegis, its outsourcing and technology portfolio unit, to Paris-based rival Teleperformance SA for $610 million as the European company looks to boost its presence in the United States. _0"> The sale includes Aegis' U.S. operations, the Philippines and Costa Rica. Aegis will retain its BPO business across India, Sri Lanka, Malaysia, Australia, South Africa, Peru, Argentina, Saudi Arabia and the UK, according to a statement by Essar. The business to be acquired represents total annual revenue of $400 million and more than 19,000 full-time employees across 16 centres in the three countries, Teleperformance said in a statement. Buying Aegis U.S. will significantly strengthen the Paris-based company's presence in the healthcare, financial services, travel and hospitality verticals in the United States, the company said. The transaction is expected to close in the third quarter. (Reporting by Nivedit

Both candidates claimed victory in Indonesia's presidential election on Wednesday, suggesting there could be a drawn out constitutional battle to decide who will next lead the world's third-largest democracy. Just a few hours after voting closed, Jakarta governor Joko "Jokowi" Widodo said he had won, based on quick counts of more than 90 percent of the votes. A victory for him would be seen as a triumph for a new breed of politician that has emerged in Southeast Asia's biggest economy, and increase the promise of desperately needed reform in government. But ex-general Prabowo Subianto, the rival candidate viewed as representative of the old guard that flourished under decades of autocratic rule, said other, unnamed, quick counts of votes favoured him. Jokowi, on other hand, named tallies by six pollsters, most regarded as reliable and independent. The included three respected, non-partisan agencies - CSIS, Kompas and Saifulmujani - which provided accurate tal

Dubai airline Emirates [EMIRA.UL] finalized a $56 billion order to buy 150 Boeing ( id="symbol_BA.N_0"> BA.N ) 777X jets on Wednesday, firming up a commitment made last year, just weeks after scrapping an order with rival planemaker Airbus ( id="symbol_AIR.PA AIR.PA ). _0"> The deal includes purchase rights for an additional 50 airplanes which, if exercised, could increase the value to about $75 billion at list prices, Boeing said in a statement. _1"> "With the order for 150 777Xs, Emirates now has 208 Boeing 777s pending delivery, creating and securing jobs across the supply chain," Emirates president Tim Clark said. The agreement comes days before the Farnborough International Airshow, traditionally an event at which billions of dollars of new plane orders are announced. It follows the surprise cancellation in June of a $16-billion order by Emirates to buy 70 of Airbus' A350 aircraft, which delivered a blow to the European planema

Britain's top share index fell for a third straight session to a two-month low on Wednesday, with car insurer Admiral sinking after a downbeat trading update. Admiral slumped 5.3 percent, making it the top decliner on the blue-chip FTSE 100 index, after saying revenues fell in the first half of the year and there was no firm evidence of a return to growth in UK car insurance premiums. The company said it planned to launch its first ever bond of up to 200 million pounds ($340 million) to diversify its capital base and help prepare to meet Solvency II regulations in 2016. Oriel Securities repeated its "sell" rating on the stock, while Berenberg said a likely fall in margins was not reflected in current consensus earnings forecasts. "The market will be surprised that Admiral sees a need to raise debt. With the company forecasting falling margins and showing falling turnover, we believe these earnings forecasts will have to come down," Berenberg analyst Peter E

American Airlines Group Inc and Southwest Airlines Co forecast growth in an important revenue measure for the second quarter, signaling that demand for air travel is solid during the summer. Unit revenue, also known as passenger revenue per available seat mile, is expected to grow between 5.5 percent and 6.5 percent in the second quarter at American, while Southwest forecast a rise of more than 8 percent. Unit revenue is a gauge of how full planes are and of pricing power. Demand "is as strong as ever," said Bob McAdoo, an airline analyst with investment bank Imperial Capital, who said American gave a stronger-than-expected outlook and that Southwest revenue results were up "meaningfully." Recent profit warnings from European airlines such as Air France-KLM and Lufthansa had raised concern about demand trends, pummeling share prices. Last week, Delta Air Lines said unit revenue for June grew less than it had forecast, citing lower business demand for travel to

Britain's top share index fell for a third straight session to a two-month low on Wednesday, with Admiral sinking after a downbeat trading update and Aviva slipping after outlining its turnaround targets. Car insurer Admiral slumped 3.3 percent after saying revenues fell in the first half of the year and there was no firm evidence of a return to growth in UK car insurance premiums. The company said it planned to launch its first ever bond of up to 200 million pounds ($340 million) to diversify its capital base and help prepare to meet Solvency II regulations in 2016. Oriel Securities repeated its "sell" rating on the stock, while Berenberg said a likely fall in margins was not reflected in current consensus earnings forecasts. "The market will be surprised that Admiral sees a need to raise debt. With the company forecasting falling margins and showing falling turnover, we believe these earnings forecasts will have to come down," Berenberg analyst Peter Elio

Former U.S. intelligence contractor Edward Snowden has asked Moscow to extend his asylum in Russia, his lawyer said on Wednesday. _0"> Russia granted Snowden a one-year visa in August 2013 despite the United States wanting Moscow to send him home to face criminal charges, including espionage, for disclosing secret U.S Internet and telephone surveillance programs. "We have carried out the procedure of getting temporary asylum. It expires on July 31," Interfax news agency quoted Snowden's Russian lawyer, Anatoly Kucherena, as saying. "Correspondingly, we have filed documents to extend his stay on the territory of Russia." Kucherena could not immediately be reached for comment independently and the Russian Federal Migration Service declined comment. Another lawyer for Snowden, whose precise whereabouts are a secret, said last month he expected Russia to extend the American's asylum beyond July. President Vladimir Putin's refusal to return

Iraqi security forces found 53 corpses, blindfolded and handcuffed, south of Baghdad on Wednesday as Shi'ite and Kurdish leaders traded accusations over an Islamist insurgency raging in the country's Sunni provinces. Officials said dozens of bodies were discovered near the mainly Shi'ite Muslim village of Khamissiya, with bullets to the chest and head, the latest mass killing since Sunni insurgents swept through northern Iraq. "Fifty-three unidentified corpses were found, all of them blindfolded and handcuffed," Sadeq Madloul, governor of the mainly Shi'ite southern province of Babil, told reporters. He said the victims appeared to have been killed overnight after being brought by car to an area near the main highway running from Baghdad to the southern provinces, about 25 km (15 miles) southeast of the city of Hilla. The identity and sectarian affiliation of the dead people was not immediately clear, he said. Sunni militants have been carrying out att

Struggling apparel and accessories retailer American Apparel Inc said on Wednesday it has reached a deal with hedge fund Standard General LP and founder Dov Charney to remake its board and bolster its finances. As part of the deal, American Apparel gave Standard General, three seats on its seven-member and received a $25 million loan from the shareholder, which could help it tide over a rough financial patch. The retailer said five of its board members, including Charney, would step down and Standard General would nominate three new members, while the company and the shareholder would jointly pick the other two. Co-chairmen Allan Mayer and David Danziger would continue to lead the board, the company said in a filing with the U.S. Securities and Exchange Commission. Charney was ousted from the company for alleged misuse of corporate funds and his role in disseminating nude photos of an ex-employee. He is currently under investigation and, as part of the deal, will not be allowed to

Higher-than-expected loan losses in the shipping sector ate into DNB's second-quarter earnings, sending shares in Norway's largest bank down almost 5 percent on Thursday. Nordic banks made it through Europe's recent financial crisis relatively unscathed, but have suffered from their exposure to countries in the Baltic region and to a shipping sector which has struggled with overcapacity in recent years. DNB, one of the world's biggest lenders to the shipping sector, had been seeing a declining trend of souring loans in shipping, but the second quarter saw an unexpected uptick in losses for the sector. That took the shine off of what analysts said was otherwise a healthy quarter for the bank. DNB shares traded down 4.6 percent at 110.2 Norwegian crowns by 0851 GMT, underperforming the Oslo market as a whole which was 1.5 percent lower. The results dragged on DNB's Swedish banking peers which report earnings next week. Loan losses in the quarter reached 554 m

Sovereign wealth fund Qatar Holding has sold 260.1 million pounds ($442.6 million) worth of shares in London Stock Exchange Group (LSE), a source familiar with the matter said on Thursday, ahead of the LSE's impending $1.6 billion rights issue. Qatar sold the shares at 1,915 pence each as part of its portfolio management, the source said, adding that Qatar remained a supportive shareholder of the LSE. The disposal leaves Qatar with a stake of around 10.3 percent in the company. The LSE is planning a rights issue of new stock to help fund its $2.7 billion purchase of U.S. indexes and investment management business Russell Group, the LSE's largest-ever acquisition, which was announced in June. Qatar could use the money raised to fund the purchase of shares in the rights issue, to which it will be entitled because of its remaining shareholding, a further two sources close to the deal said. The sale represents around 5 percent of the LSE's outstanding shares. The price of

Federal Reserve Chair Janet Yellen will go before Congress next week to deliver the U.S. central bank's latest report on monetary policy, congressional officials said on Tuesday. Yellen will appear before the Senate Banking Committee at 10 a.m. EDT on July 15, the Senate committee said. She is scheduled to appear before the House Financial Services Committee at 10 a.m. the following day, a spokesman for the House committee confirmed. The Fed chief by law testifies twice a year to the two congressional panels. Her first visit as Fed chair came in February, and turned into a marathon, six-hour affair as lawmakers quizzed the new central bank chief on her plans. Her appearance next week comes as the Fed is far along in shutting down some of the main stimulus policies it used to combat the recession, and is planning its return to a more normal monetary policy. That includes an ongoing debate over when to increase interest rates and how to manage the possible reduction in the $4

Argentina said on Tuesday it would meet with a mediator for the second time this week in the country's dispute with "holdout" investors, lifting market hopes for a deal needed to avoid another painful debt default. With the economy already in recession, President Cristina Fernandez's cash-strapped government has until July 30 to reach an agreement with hedge funds who refused to participate in the country's earlier debt restructuring and have been suing for full repayment of sovereign bonds which Argentina defaulted on in 2002. On Argentina's local over-the-counter market, benchmark Discount bonds ARDISCD=RASL rose 1.60 percent to 88.65 while Par bonds ARPARD=RASL were up 1.32 percent to 49.90. Traders cited optimism over the talks as the reason for the climb. Argentina's cabinet chief Jorge Capitanich did not say whether the holdout funds led by Elliott Management Corp and Aurelius Capital Management would participate in Friday's meeting. There

Mexico's annual inflation rate is seen climbing in June, but policymakers expect the rise to be temporary as the pace of consumer price gains is contained by a sluggish economy. _0"> Inflation in the 12 months through June MXCPIA=ECI is likely to have come in at 3.78 percent, up from a 3.51 percent annual rate in May, according to a Reuters poll of 20 analysts. The Mexican central bank unexpectedly slashed its main interest rate by 50 basis points in early June to a record low of 3.00 percent, saying slack in the economy gave it room to lower borrowing costs without fanning inflation. Policymakers have said they expect temporary factors to drive the annual rate above the central bank's 4 percent limit in the second half of the year, but that the rate should fall back toward 3 percent by early next year. The Reuters poll showed analysts expect consumer prices to have risen 0.20 percent MXINFL=ECI in June, mostly on an uptick in gasoline prices. Core inflation, whi