CA-BUSINESS Summary

TSX may open higher after Italy forms new government

(Reuters) - Canada's main stock index looked set to open higher, with investors encouraged by the formation of a coalition government in Italy that ended two months of political uncertainty in the troubled region. TOP STORIES

Global shares rise, dollar falls on central bank expectations

LONDON (Reuters) - World shares gained and the dollar fell on Monday as investors counted on easy money from the U.S. and euro zone central banks to offset the risk of further disappointing global economic data. However, the euro gained ground as some investors had second thoughts about whether the European Central Bank will cut interest rates on Thursday, a prospect that pushed the common currency down around 1.3 percent against the dollar last week.

Analysis: Tax strategy may be key to Verizon Wireless deal

(Reuters) - Verizon Communications Inc's chances of buying the 45-percent stake in Verizon Wireless owned by the UK's Vodafone Group Plc will hinge, at least in part, on the quality of tax advice it is getting. Verizon , the No. 2 U.S. telecommunications company, may have found a way to structure a purchase of the stake so that Vodafone can avoid a multi-billion dollar U.S. capital gains tax bill, sources familiar with Verizon's plans said. The possibility of a huge tax bill has previously been regarded by analysts as a big hurdle to any such deal.

Bayer to buy birth-control devices maker for $1.1 billion

FRANKFURT (Reuters) - Germany's Bayer AG has agreed to buy U.S. contraceptive devices maker Conceptus for $1.1 billion, aiming to underpin its position as the world's largest women's healthcare provider, Bayer, whose shares were down 2.3 percent by 0823 GMT, will launch a public tender offer to acquire all Conceptus shares for $31.00 each in cash, in an offer agreed with Conceptus's management, Bayer said on Monday.

Nissan recalls over 123,000 Altimas in U.S. for spare tire issue

(Reuters) - Nissan Motor Co Ltd is recalling more than 123,000 Altima sedans in the United States to adjust the inflation of the spare tires, which could be over- or under-inflated. About 123,308 Altimas from model year 2013 are affected by the recall, according to documents filed the U.S. National Highway Traffic Safety Administration.

Honda recalls almost 46,000 Fit cars in U.S., Canada

(Reuters) - Honda Motor Co Ltd is recalling almost 46,000 Fit small cars in the United States and Canada to fix a problem with the electronic stability control system software. The recall affects 2012 and 2013 model year Fit Sport cars. The cars may tilt too far during sharp turns, possibly leading to loss of tire traction and increasing the risk of a crash, according to documents filed with the U.S. National Highway Traffic Safety Administration.

VW brand bears brunt of crisis as first-quarter profit halves

BERLIN (Reuters) - First-quarter profit at Volkswagen's core brand almost halved, Europe's biggest carmaker said on Monday, as manufacturers battle the region's protracted slump in demand with ever deeper discounts. Operating profit at the VW brand, which accounts for over half the German group's 46.6 billion-euro ($60.7 billion) sales, plunged to 590 million euros, VW said, giving details on a drop in quarterly group earnings announced last week.

Economic mood in euro zone sours again in April

BRUSSELS (Reuters) - Confidence in the euro zone's economy fell further in April, data showed, strengthening the case for a cut in interest rates this week by the European Central Bank. The euro zone is facing a difficult road out of recession and has seen a souring of the mood among companies and consumers since March, after an optimistic start to the year was disrupted by turmoil in Cyprus and Italy.

Santander CEO Saenz steps down after legal battle

MADRID (Reuters) - The chief executive of Spain's Santander , the euro zone's largest bank, stepped down on Monday after a prolonged legal battle over whether he should be barred from banking due to a criminal conviction. Alfredo Saenz, 70, was convicted in 2009 of filing a false complaint against shareholders in Santander-owned Banesto bank to pressure them to pay a debt, in a case that first arose more than a decade ago.

Deutsche Bank has "zero tolerance" for tax evaders: CEO

FRANKFURT (Reuters) - Deutsche Bank has "zero tolerance" for customers seeking to evade taxes by holding assets in foreign accounts managed by the lender, Co-Chief Executive Juergen Fitschen told German radio broadcaster Deutschlandfunk. "Tax evasion is a crime," Fitschen said in an interview. "It's unacceptable."

Source: http://news.yahoo.com/ca-business-summary-022057839.html

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