De Benedetti's M&C consortium scraps Alitalia bid

(Reuters) - M&C and partners private equity firm Cerberus Capital Management [CBS.UL] and ELQ Investors of U.S. investment bank Goldman Sachs had been on the shortlist of potential bidders for the government's stake in Alitalia.

It gave no reason for its withdrawal, but on March 22 De Benedetti had said M&C was pulling out of the due diligence process due to objections from Goldman Sachs and Cerberus to a one-year trading ban on Alitalia shares imposed by the Treasury.


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Vodafone shares spooked by UK margin drop

(Reuters) - British mobile phone operator Vodafone Group Plc unveiled a profit margin drop in its crowded home market on Friday as it slashed tariffs to win customers and warned of challenges across Europe.

Shares in the group posted their greatest daily fall in over a year -- closing 4.3 percent down -- as the mobile giant concluded a day-long investor presentation aimed at showcasing its core German and UK operations.


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WTO confirms US loss in Internet gambling case

(Reuters) - The World Trade Organization (WTO) on Friday confirmed its ruling the United States had done nothing to abide by an earlier verdict that labeled some U.S. Internet gambling restrictions as illegal.

In a published version of findings in a complaint brought by Antigua and Barbuda, initially sent to the parties in January, the Geneva-based trade referee said the Caribbean island had provided additional evidence that strengthened its case.


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Dollar dips on news of US duties on Chinese paper

(Reuters) - The dollar declined on Friday after the U.S. government said it will impose duties on imports of coated paper from China, raising fears of protectionism between the two economic superpowers.

While traders and investors debated whether the news was the opening salvo in a trade war, its impact on foreign exchange markets was immediate.


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China demands US scrap anti-subsidy duties

(Reuters) - Beijing demanded on Saturday that the United States reverse its decision to slap anti-subsidy duties on imports of glossy paper from China.

"The Chinese side strongly demands the United States to reconsider this decision and correct it as soon as possible," Wang Xinpei, spokesman for the Commerce Ministry, said in a statement on the ministry Web site (www.mofcom.gov.cn).


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China should not bow to pressure on yuan - adviser

(Reuters) - China's big balance of payments surplus poses acute challenges, but Beijing should free up the yuan at its own pace and take its time in liberalising the capital account, a senior political figure said on Saturday.

"We should keep the initiative in our own hands and not bow to external pressure. But we do also need to further reform the exchange rate regime," said Cheng Siwei, vice chairman of the Chinese People's Political and Consultative Conference, parliament's top advisory body.


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China demands U.S. scrap anti-subsidy duties

(Reuters) - U.S. Commerce Secretary Carlos Gutierrez announced on Friday a preliminary countervailing duty of 10.90 percent against Shandong Chenming Paper Holdings and 20.35 percent against Gold East Paper Co. in a case brought last year by NewPage Corp., a Dayton, Ohio, manufacturer.

A preliminary rate of 18.16 percent will apply to all other Chinese glossy paper exports. Commerce will make its final duty determination later this year. Until then, importers will be required to post bonds or deposit cash with the U.S. Customs Service, based on the preliminary duty levels.


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