Futures point to flat open for European shares

July 27 (Reuters) – European shares were set for a flat open on Tuesday, having hit a five-week closing high in the previous session, and with investors digesting a raft of corporate earnings, including BP (BP.L) and UBS (UBSN.VX).

At 0607 GMT, futures for the STOXX Europe 50 STXEc1 were down 0.1 percent. Futures for Germany’s DAX FDXc1 were flat and those for France’s CAC FCEc1 were down 0.1 percent.

(Reporting by Brian Gorman)

AXA Asia says Hong Kong business ‘very profitable’

July 22 (Reuters) – Takeover target AXA Asia Pacific Holding’s (AXA.AX) Hong Kong business is very profitable with sales growing by 20 percent in the first half, its chief executive said on Thursday.

“We will show in a couple of weeks, the business is very profitable,” Chief Executive Andrew Penn said, referring to the company’s first half earnings announcement on August 4.

“Growth is accelerating in Hong Kong,” he said to a question on whether Hong Kong was dragging the companies earnings.

The wealth manager disappointed the market on Wednesday, flagging first-half operating earnings that were about 8 percent below analysts’ forecasts. Analysts said the shortfall appeared to be due to slowing growth in its Asian operations.

AXA Asia Pacific, a unit of France’s AXA SA (AXAF.PA), is the target of an $11.5 billion takeover offer from National Australia Bank (NAB.AX), which was extended last week to give NAB time to address concerns raised by Australia’s competition watchdog. (Reporting by Sonali Paul; editing by Balazs Koranyi)

Reuters Insider- Finance Minister Christine Lagarde on the euro

French Finance Minister, Christine Lagarde, takes part in a live Reuters Insider event to talk about the euro zone debt crisis, the impact on France and whether the future of the euro is now in doubt.

To watch live at 0630 GMT, go to insider.thomsonreuters.com and log in, or register for an account.

The show will also be available live and on demand on 3000 Xtra. Click on:

link.reuters.com/tef42m

Reuters Insider- Finance Minister Christine Lagarde on the Euro

French Finance Minister, Christine Lagarde, takes part in a live Reuters Insider event to talk about the euro zone debt crisis, the impact on France and whether the future of the euro is now in doubt.

To watch live at 0630 GMT, go to insider.thomsonreuters.com and log in, or register for an account.

The show will also be available live and on demand on 3000 Xtra. Click on:

link.reuters.com/tef42m

Rain storms kills 9 in France, several missing

France, June 16 (Reuters) – At least nine people died and several were missing following violent rain storms near France’s Mediterranean coast, local officials said on Wednesday.

Most of the deaths occurred in or around the town of Draguignan, which was hit by flash floods on Tuesday, a spokesman for the local Var region said.

More than 350 mm (14 inches) of rain fell on the Var in just a few hours, triggering violent flooding.

French television showed some streets in the region clogged with overturned cars that had been swept away by the ragging waters. Government ministers were expected to tour the flood zones later in the day.

(Reporting by Jean-Francois Rosnoblet, writing by Crispian Balmer, editing by Michael Roddy)

Italian CDS marks record high of 250 bps – Markit

June 1 (Reuters) – The cost of protecting Italian government debt against default hit a record high on Tuesday, according to CDS monitor Markit, as investors fretted over sovereign rating risks.

The cost of potecting France debt against default also rose.

Five-year credit default swaps (CDS) on Italian government debt climbed to 250 basis points from 200.6 bps in Europe on Monday, figures from Markit showed.

It means the cost rises to 250,000 euros to protect 10 million euros worth of Italian government bonds.

French CDS rose by 7 bps to 76 bps, closing in on the UK’s 84 bps.

Peripheral issuers Greece, Portugal, Spain and Ireland also saw CDS prices rise.

“Credit and equity markets capitulating as risk aversion regains the ascendancy,” said Markit. (Reporting by George Matlock)

Frenchman M’Baye claims WBA welterweight belt

France’s Souleymane M’Baye clinched the WBA welterweight title by beating Canadian Antonin Decarie with a unanimous points decision in Levallois-Perret, France on Friday.

M’Baye, a former WBA light welterweight champion, now 39-3-1 with 21 knockouts, handed Decarie his first defeat in 24 bouts.

The 35-year-old M’Baye won 116-113 116-112 116-113.

(Reporting by Julien Pretot; editing by Pritha Sarkar; To query or comment on this story email sportsfeedback@thomsonreuters.com)

Local hope Rezai struggles into French Open third round

France’s Aravane Rezai battled past German Angelique Kerber to book her place in the third round of the French Open with a 6-2 2-6 6-3 win on Wednesday.

The 15th-seeded Rezai took control of the match but suffered a dip in concentration as play resumed following a rain break, allowing Kerber back into the contest.

Rezai, who beat Justine Henin, Jelena Jankovic and Venus Williams earlier this month to win the Madrid Open, eventually prevailed on her first match point with a backhand winner after one hour and 43 minutes.

She will next face the Russian 19th seed Nadia Petrova for a place in the fourth round.

(Reporting by Julien Pretot; editing by Miles Evans;

To query or comment on this story email sportsfeedback@thomsonreuters.com)

Glittering Rezai blasts into French Open second round

France’s Aravane Rezai followed up her Madrid title with a crushing 6-1 6-1 demolition of Canadian qualifier Heidi El Tabakh in the first round of the French Open on Sunday.

Wearing an eye-catching black and gold space-age dress on centre court, the 15th-seeded Rezai cracked winner after winner to blast past her helpless opponent in just 48 minutes.

Rezai, who beat Justine Henin, Jelena Jankovic and Venus Williams en route to winning the Madrid Open last weekend, wrapped up a straightforward victory with an ace.

She will next face either Russian Anna Chakvetadze or Angelique Kerber of Germany.

(Reporting by Julien Pretot; editing by Miles Evans; To query or comment on this story email sportsfeedback@thomsonreuters.com)

Catherine Zeta-Jones cancels Broadway show after falling ill

London, May 21 (ANI): Actress Catherine Zeta-Jones scrapped two of her performances of her Broadway show A Little Nigh Music after falling ill.

The actress is currently starring on the New York stage in the musical, but she was forced to cancel both a matinee and evening show on Wednesday (19May10).

The cancellation sparked rumours that she was flying to join husband Michael Douglas at the Cannes Film Festival in France.

However, Zeta-Jones” representative has dismissed the rumours, insisting she was sick.

“She wasn”t able to go to Cannes due to her commitment to performing eight shows a week,” the Daily Star quoted the rep as telling the New York Post. (ANI)

French woman flying home after Iran trial – France

French teaching assistant Clotilde Reiss is being flown back to France on Sunday after the end of her trial in Iran on spying charges, President Nicolas Sarkozy’s office said in a statement.

In Tehran on Saturday, Reiss’s lawyer said she would be allowed to leave Iran after her jail sentence was commuted to a fine of $285,000.

Ribery ‘flew underage prostitute to Germany as 26th birthday present’

Paris, Apr 29(ANI): French winger Franck Ribery had paid thousands of pounds to jet an underage prostitute, Zahia Dehar, from France to Germany as a ‘birthday present’ to himself.

Dehar, who had been in hiding since the scandal broke a fortnight ago, revealed that Ribery paid for her first class flights and a five-star hotel for his 26th birthday last year.

“I was Ribery”s birthday present. Franck approached me in a Paris club. He booked me and flew me to Munich to celebrate his 26th birthday,” The Telegraph quoted Dehar, as saying.

“He made reservations at a luxury hotel in Munich. We had sex and he paid me. I was a lovely little present, wasn’t I?” she added.

Ribery has been embroiled in a sex scandal after French police raided the Paris brothel Cafe Zaman, earlier this month.

Dehar had told officers how she had 1,500 pounds-a-night sex with three French international players, including Ribery.

While Ribery has admitted that he had sex with Dehar, he denies paying her or knowing she was only 17-years-old at the time, which would make it illegal. (ANI)

Man seeks ban on Tintin in Congo citing its racist content

London, Apr 28 (ANI): Tintin in Congo is once again facing the flak for its allegedly racist depiction of black people.

Bienvenue Mbutu, a Congolese national living in Belgium, has asked the Belgian courts to ban the book, but has said he would accept a ruling that the book must display a warning about its content.

Mr Mbutu has also tried to have the book banned in France.

“Tintin”s little (black) helper is seen as stupid and without qualities. It makes people think that blacks have not evolved,” he has been quoted as saying.

A Belgium court, home to the book”s author Hergé, is due to rule on the matter later today, the BBC reports.

Three years ago the UK”s Commission for Racial Equality called for the book to be banned, saying it contained imagery and words of hideous racial prejudice.

The book has been criticized time and again for depicting crass depiction of black people and reinforcing racial stereotypes.

In the book, a black woman bows to Tintin and says: “White man very great.

White mister is big juju man!”

The celebrated creator of the character, Herge said it was a youthful sin that reflected the prejudices prevalent at the time it was conceived, reports The Telegraph. (ANI)

Foreign Legion soldier killed in Afghanistan

A soldier with the French Foreign Legion has been killed in Afghanistan during clashes with insurgents north east of Kabul.

The unidentified member of a Foreign Legion parachutist regiment was shot during an exchange of fire with insurgents in the Tagab Valley and had been transported to a French military hospital in Kabul, said a statement from the French presidency.

French soldiers were backing Afghan troops during the clashes, it said.

President Nicolas Sarkozy paid tribute to the soldier and offered his condolences to his family.

He is the 41st French soldier to be killed in Afghanistan since the deployment of international troops in late 2001.

France has some 3,500 soldiers deployed in the country.

Whitney Houston cancels concert

Pop singer Whitney Houston has cancelled a concert in Paris because of illness.

Organisers say Houston is suffering from a respiratory infection.

A new date will be announced soon.

The concert, at the Paris-Bercy arena, was to have been the first date in Houston’s European tour.

Houston endured a controversial tour of Australia in February, marked by fan walkouts and poor reviews.

‘Termite gang’ tunnels into third French bank

Would-be robbers armed with a pneumatic drill have dug a tunnel from a Paris subway station into the basement of a bank but failed to seize any cash or valuables, police said.

The attempted robbery of BNP Paribas is the third time this year so-called “termite gangs” have tried to rob a bank by digging a tunnel into the building.

It is not known whether the three incidents are related.

The gang dug into the bank’s basement in the early hours of Sunday, possibly via the sewage system.

They failed to enter the safety deposit room and nothing was taken, a BNP spokeswoman said.

They aborted the attempt and started a fire to cover their tracks which set off alarms and alerted police.

Digging equipment, including a pneumatic drill, was found at the scene.

“The individuals left the premises before they could reach the safety deposit room of the bank,” Paris police headquarters said in a statement.

A week earlier a Credit Lyonnais branch in Paris was broken into by tunnel-digging robbers who cracked almost 200 private safes, according to police.

A branch of Caisse d’Epargne in a Paris suburb was robbed at the start of the year in similar fashion.

French media have compared the cases to the Spaggiari Affair, a heist masterminded by Albert Spaggiari more than 30 years ago in Nice that spawned several books and movies.

On that occasion a gang tunnelled into the vault of a branch of Societe Generale during a public holiday, spent two days and two nights there and made off with about 24 million euros ($35 million) worth of cash and valuables.

Iran says China agrees sanctions ineffective

Iran and China agreed during talks in Beijing that sanctions “have lost their effectiveness”, chief Iranian nuclear negotiator Saeed Jalili said on Friday after meeting senior Chinese officials.

“In our talks with China it was agreed that tools such as sanctions have lost their effectiveness,” Jalili told a news conference, speaking via a Chinese translator.

Asked if China backs sanctions on Iran over its nuclear programme, he said: “It’s up to China to answer that.”

The United States said this week that six world powers, including China and Russia, are united in talks on a possible new round of sanctions against Iran over its nuclear programme.

Beijing has not commented directly on whether it is contemplating supporting further restrictions on Iran, but diplomats have dropped a phrase they were using earlier this year — that sanctions did not offer a “fundamental solution”.

Chinese Foreign Minister Yang Jiechi called for “flexibility” during talks with Jalili, who flew into Beijing on Thursday, the official Xinhua news agency reported.

Beijing, like Moscow, reluctantly backed three previous rounds of U.N. sanctions against Tehran for refusing to halt enrichment as demanded by five U.N. Security Council resolutions.

Iran rejects Western charges its atomic programme is aimed at developing bombs and says enrichment is a sovereign right.

Tehran insists its nuclear programme is intended only to peacefully generate electricity.

Diplomats say China has been slowly and reluctantly falling in line with other powers involved in the talks, though it wants any new steps against one of its major oil suppliers to be weak.

Jalili also said it was unacceptable to wield the threat of sanctions to press Tehran over a U.N.-backed nuclear fuel offer. That offer would have move Tehran’s low-enriched uranium stocks to Russia and France for processing into fuel for an ageing research reactor that produces medical isotopes.

“What is ridiculous is that if we don’t accept their conditions, they will impose sanctions on us,” said Jalili, speaking in Farsi, with a Chinese translator. “The logic of this remains unacceptable to the international community.”

Negotiations based on pressure will not work, he said.

Moscow, Western diplomats say, has become increasingly impatient with Iran’s lack of interest in the deal. Along with Beijing, it privately urged Iran to accept the offer as a goodwill gesture, but they did not receive any clear response.

That, diplomats say, is one of the reasons China agreed to join negotiations on a new U.N. sanctions resolution.

(Reporting by Chris Buckley; Writing by Emma Graham-Harrison; Editing by Benjamin Kang Lim and Jerry Norton)

Obama hopes for ‘strong sanctions’ against Iran

US president Barack Obama says he hopes new international sanctions against Iran’s nuclear program can be imposed within weeks.

The West suspects Iran of trying to acquire nuclear weapons.

With French president Nicolas Sarkozy by his side, Mr Obama declared the US is determined to pursue strong sanctions against Iran, and soon.

“I’m not interested in waiting months for a sanctions regime to be in place,” Mr Obama said.

“I’m interested in seeing that regime in place in weeks.”

Speaking through an interpreter, Mr Sarkozy has backed the US stance.

“The time has come to take decisions. Iran cannot continue its mad race,” he said.

But Mr Obama says there is no agreement yet on the new sanctions.

Scott’s Robin Hood to open Cannes

Robin Hood, directed by Ridley Scott and starring Russell Crowe and Cate Blanchett, has been selected as the opening-night film for the Cannes Film Festival.

The film will screen out of competition May 12, the opening day of the festival, which ends May 23.

The Universal Pictures feature was written by Brian Helgeland (LA Confidential, Mystic River) and portrays the beginnings of the Robin Hood legend.

Scott is a familiar face at the festival, having been to the Riviera in 1977 with prize winner The Duellists and in 1991 with Thelma And Louise.

Robin Hood, which also stars Max Von Sydow, Lea Seydoux and William Hurt, will be released in France on the day it screens at the festival and the rest of the world on May 14.

- Reuters

Pak Navy to acquire seven submarines to meet challenges posed by India

Islamabad, Mar.26 (ANI): The Pakistan Navy is likely to acquire seven ‘conventional’ submarines and is in discussions with China and France for finalising the deal.

According to sources, negotiations are also on with Germany to purchase three U-214 type submarines.

Sources within the Pakistan Navy said that a high level naval delegation would be visiting France next week to finalise the deal with French DCN Company for Marline submarines.

Islamabad is deeply interested in acquiring four Chinese Yuan and Song Class and three French Marlin class latest diesel electric conventional submarines in a bid to meet the challenge from the rapidly expanding Indian navy, The Dawn quoted sources, as saying.

It is pertinent to mention here that a German company-HDW had drawn up technical specifications for three U-214 submarines, and a billion dollar contract was almost finalised, but the deal could not materialise due to some unknown reasons. (ANI)