Erdogan aims to turn Turkey into major defence industry power *Turkey believes robust military vital for regional role- analyst. *China weapons deal has raised concern among NATO members. ANKARA, May 27- For years Turkey has boasted NATO's largest army, bar only the United States, and now President Tayyip Erdogan wants a defence industry to match.
| By: Jonny Hogg and Can Sezer
RPT-UPDATE 1-BOJ's Iwata says timing for hitting price goal "somewhat delayed" SAPPORO, Japan, May 27- Bank of Japan Deputy Governor Kikuo Iwata said on Wednesday the timing for achieving the bank's 2 percent inflation target has been "somewhat delayed" from its initial projection. "At this moment, the BOJ has no intention of changing its commitment of achieving its price target at the earliest possible time," he told business leaders in...
| By: Leika Kihara
Fed's Lacker says letting banks fail will restore market discipline BATON ROUGE, La., May 26- Policymakers must ensure that financial industry creditors do not expect government bailouts and must be willing to let firms fail in order to restore market discipline, a top Federal Reserve official said on Tuesday. The remarks by Jeffrey Lacker, president of the Richmond Federal Reserve Bank, repeated much of what he has previously...
| By: Michael Flaherty
No more closet indexing, time to get active As the S&P 500 clings to a 2 percent gain for the year, many Wall Street strategists agree: Mimicking the benchmark is not going to cut it anymore.
| By: John Melloy
Altice's ambitions for U.S. undimmed after Time Warner Cable setback *Charter agrees to buy Time Warner Cable in $56 bln deal. PARIS, May 26- Patrick Drahi, the billionaire owner of deal-hungry European telecoms group Altice, will not let missing out on Time Warner Cable dissuade him from further expansion in the United States, people familiar with the situation said. Taking his first step across the Atlantic last week by agreeing to...
| By: Leila Abboud
French bill seeks to boost renewable energy, cut nuclear use PARIS- France's lower house of parliament has approved a bill aimed at boosting renewable energy and reducing the country's reliance on nuclear power, among other environment-friendly measures. The bill pushed by Ecology Minister Segolene Royal was approved Tuesday by the National Assembly, the lower house of parliament, with 308 votes for and 217 against.
Source: The Associated Press
UPDATE 1-More Swiss banks to settle with U.S. DoJ in near future - official GENEVA, May 26- More Swiss banks are expected to settle with the U.S. Department of Justice "in the near future" to avoid prosecution on charges of helping U.S. account holders hide their assets from the tax authorities, a senior Swiss finance ministry official said on Tuesday. Last week Finter Bank Zurich AG agreed to pay $5.4 million in a deal with the Justice...
UPDATE 1-Lehman collapse shapes Bank of England's trading test for lenders LONDON, May 26- Britain's top banks will be tested this year for their ability to cope with the type of market mayhem that followed the collapse of U.S. bank Lehman Brothers in 2008, the Bank of England said on Tuesday. Bank of England Deputy Governor Andrew Bailey, who also heads the central bank's Prudential Regulatory Authority, spoke last week of the need to look...
| By: Huw Jones
REFILE-RPT-INSIGHT-Funds feel heat of coal and tar divestment drive LONDON, May 24- For Rivka Micklewaite and fellow students, securing a pledge this week from Oxford University to avoid direct investments in companies producing coal or tar sands is just the beginning. The second-year engineering student from Balliol College is not alone. Norway's $900 billion sovereign wealth fund and the Church of England are among recent...
| By: Simon Jessop and Ron Bousso
Lehman collapse shapes Bank of England's trading test for lenders LONDON, May 26- Britain's top banks will be tested this year for their ability to cope with the type of market mayhem that followed the collapse of U.S. bank Lehman Brothers in 2008, the Bank of England said on Tuesday. Bank of England Deputy Governor Andrew Bailey, who also heads the central bank's Prudential Regulatory Authority, spoke last week of the need to look...
| By: Huw Jones