CA-BUSINESS Summary

TSX rises as gold miners lone sore spot

TORONTO (Reuters) - Canada's main stock index rose on Friday as robust economic data helped drive gains in energy stocks and financial shares, offsetting weakness in gold producers. The materials sector, a major component of the S&P/TSX composite which includes gold miners, was the lone sector to finish in the red of ten main sectors, as the price of gold fell for a seventh straight session.

BoE governor King warns of euro risk to British recovery

LONDON (Reuters) - The single biggest risk to Britain's nascent economic recovery is continued eurozone weakness, the Bank of England's outgoing governor Mervyn King said in a television interview on Sunday. He called for a "credible medium term plan" to get the economy back on track and said automatic economic stabilizers should be allowed to work.

Bankia compensation qualms signal loss of faith in Spain's banks

MADRID (Reuters) - Many duped savers at Spanish lender Bankia are shunning a state-supervised compensation scheme in favor of expensive lawsuits, prolonging a mis-selling scandal and complicating efforts to restore faith in the banking system. The disputes over mis-selling at Bankia and other nationalized banks have created a major headache for the government as it tries to take the next step in their rescue, imposing large losses on holders of junior debt.

Tesco clothing brand plans international expansion

LONDON (Reuters) - The clothing brand sold by Britain's biggest retailer Tesco said on Sunday it planned to open more than 50 new franchise stores worldwide over the next five years. F&F, which opened its first franchise store in Saudi Arabia last year, said it would open shops across the Middle East and in Kazakhstan, Georgia, Armenia and Azerbaijan.

Greece to sell Postbank, Proton in July, stress-test big banks

ATHENS (Reuters) - Greece's bank rescue fund will aim to sell Hellenic Postbank and Proton by mid-July with big banks continuing to absorb small lenders as part of plans to revive the battered sector, the country's foreign lenders said in an inspection review. Greece is recapitalizing its four big banks and winding down others deemed non-viable to improve the sector's capacity to fund the economy out of a deep six-year recession. Banks suffered heavy losses from debt writedowns and bad loans.

Analysis: Airline emissions deal may not come before EU deadline

(Reuters) - Hope is fading for a global deal to regulate the airline industry's greenhouse gas emissions ahead of a fall deadline, even though failure could push the industry back to the brink of a trade war over the European Union's emissions trading system. Last November the EU suspended its controversial scheme to force all airlines to buy carbon credits for any flight arriving in or departing from European airspace.

German minister calls EU move on China solar 'grave mistake'

BERLIN (Reuters) - German Economy Minister Philipp Roesler said the European Commission made a "grave mistake" by agreeing to impose punitive import duties on solar panels from China and urged the Commission to work to prevent the eruption of a trade conflict. "It's a grave mistake," Roesler told Welt am Sonntag newspaper on Sunday.

Analysis: Frontier Markets booming but risks mounting

NEW YORK (Reuters) - With the world's biggest central banks driving yields on safe assets to near zero, some investors are tossing caution to the wind and rushing to buy illiquid and previously overlooked bonds sold by countries with no capital markets track record. Even the biggest investors acknowledge that "frontier markets" like Vietnam and Romania aren't for the faint of heart because nobody knows whether these new debt market players will be able to make good on their obligations.

Bank of England's King sends message to successor Carney

LONDON (Reuters) - Bank of England Governor Mervyn King has urged successor Mark Carney not to bring to Britain his trademark policy of spelling out how long interest rates will remain low. King also said the bank could not be run as "a one-man show," a sign of concern at high expectations that the arrival of the Canadian will lead to a quick fix for Britain's slow economy.

Exclusive: South Africa's NUM seeks 15-60 percent wage rises from gold, coal producers

JOHANNESBURG (Reuters) - South Africa's National Union of Mineworkers said it would seek pay rises of up to 60 percent from gold and coal producers, raising the prospect of fresh strikes as firms battle higher costs and falling prices in an already heated labor climate. Africa's biggest economy is hoping to avoid the 2012 wildcat strike action at platinum and gold mines that cost billions in lost revenue and production and killed over 50 people.

Source: http://news.yahoo.com/ca-business-summary-101044953.html

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