Business Today: European shares, euro gain as Greek fears ease

Click to View in Browser 05/28/2012 European shares, euro gain as Greek fears ease LONDON (Reuters) - European stocks rose for a third straight session on Monday and the euro bounced back from two-year lows, as Greek polls showing growing support for pro-bailout parties eased speculation about a disorderly exit by Athens from the single currency. U.S. data, Europe woes to set tone NEW YORK (Reuters) - Investors will grapple next week with major U.S. economic reports and the looming possibility of a Greek exit from the euro zone, which is likely to keep dragging on equities for weeks to come. Xstrata plans big bonus to retain CEO ahead of Glencore merger: FT LONDON (Reuters) - Xstrata is this week set to reveal a bonus package worth tens of millions of pounds in an effort to retain its chief executive ahead of its merger with Glencore , the Financial Times reported on Monday. Spanish debt costs spiral, Rajoy says no outside bailout MADRID (Reuters) - Spanish debt yields jumped and shares in Bankia SA plunged to record lows on Monday after the government, struggling to sort out its finances, put forward a plan to revive its fourth-largest lender involving more public debt. Insight: European firms plan for Greek unrest and euro exit LONDON (Reuters) - British electrical retailer Dixons has spent the last few weeks stockpiling security shutters to protect its nearly 100 stores across Greece in case of riot. Insight: U.S. hedge funds find ways to trade euro misery BOSTON/NEW YORK (Reuters) - Two decades ago, George Soros rose to fame and fortune on his now-historic trade in which he took on the Bank of England and shrewdly wagered on a devaluation of the British pound. Hong Kong's Kwok brothers renew bail; bribery case saps confidence HONG KONG (Reuters) - The two billionaire Kwok brothers who run Sun Hung Kai Properties and three other men arrested in a bribery scandal involving Asia's biggest developer renewed their bail on Monday as Hong Kong's highest-profile graft investigation saps shareholder confidence in the conglomerate. Analysis: With or without euro, Europe must raise its game LONDON (Reuters) - The opening last week in northeastern Spain of a 37-million-euro stretch of motorway to nowhere is an irresistible metaphor for the euro, an ambitious project conceived in better times that is now seemingly running out of road. WTO's Lamy urges China to free up services sector BEIJING (Reuters) - China should further open its fledgling services sector to foreign investment to help sustain its economic rise, World Trade Organisation Director General Pascal Lamy said on Monday. Renesas outsources top-end chips to TSMC as shake-out looms TOKYO (Reuters) - Japan's Renesas Electronics will outsource its top-end chips to Taiwan Semiconductor Manufacturing Co to survive cut-throat global competition after falling behind in investment and as it grapples with a costly restructuring. Related Video Foie gras farmers diversify, forcefeeding for fuel Market Pulse: Spain bank plan doomed, Troika bailout looms Economic News May consumer sentiment highest in more than four years Fed's Plosser warns on discretionary policy decisions A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend