Reuters Business Report at 0830 GMT

Published: 05 Jun 2009 01:08:34 PST

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REUTERS BUSINESS REPORT

Friday, June 5, 2009

Sonya Hepinstall and Mathew Veedon +65 6870-3827

0230, 0630 GMT

Jason Neely +44 207 542 8825

0930, 1330 GMT

Picture Desk: Singapore +65 6870 3775

Graphics queries: +65 6870 3595

(All times GMT) ---------------------------------------------------------------

TOP STORIES

Rio dumps Chinalco for iron ore tie-up with BHP

LONDON - Global miner Rio Tinto dumps plans for a $19.5 billion tie-up with China's Chinalco and agrees to set up an iron ore joint venture with rival BHP Billiton and sell new shares to slash debt (RIOTINTO-CHINALCO/ (WRAPUP 3), expect by 1200, pix, 900 words)

+ See also:

- CHINALCO/ (SNAP ANALYSIS), moved, by Joseph Chaney, Asia Resources Correspondent, 550 words

- RIOTINTO-CHINALCO/STEELMAKERS (UPDATE 1), expect by 0800, by Miyoung Kim, 700 words

- BHP/IRON ORE (UPDATE 1), moved, by James Regan, 500 words

- OZMINERALS/ , moved, 200 words

Road to global recovery will be long

ST PETERSBURG/LONDON - World economic policymakers said the worst of the economic downturn may be past but cautioned the road to recovery would be long and require further cash injections and lower interest rates to be sustained (FINANCIAL/ (TOPWRAP 2), expect by 0930, pix, tv, by Antonia Vorobyova and Leika Kihara, 600 words)

+ See also:

- JAPAN-ECONOMY/ (UPDATE 1), moved, by Leika Kihara, 500 words

Latvia crisis threatens to spread

WARSAW - Latvia's crisis threatens to spill over into other countries in eastern Europe and the international community needs to provide more support for small Baltic state, says Polish central banker (FINANCIAL-EUROPE/LATVIA (WRAPUP 1), expect by 0900, by Karolina Slowikowska, 600 words)

+ See also:

- LATVIA-CURRENCY/PEGS (ANALYSIS)

Bonus culture change may just make the rich richer

LONDON - Regulators and politicians who want to curb the huge bonuses paid to financiers in the wake of the global credit crisis may find the banking sector's response even more unpalatable. (FINANCIAL-BONUS/CULTURE, by Jane Merriman, 820 words)

MARKETS

Stocks, oil rise before jobs data

LONDON - World stocks rise towards this week's 7-1/2 month high as resource stocks rally after oil prices surges past $69 a barrel and optimism grows about an improving U.S. labour market ahead of key jobs data. (MARKETS-GLOBAL (WRAPUP 3), expect by 0840, by Natsuko Waki, 600 words)

Oil pushes towards $70, bouyed by macro data, stocks

LONDON - Oil pushed up towards $70 per barrel and new seven-month highs, buoyed by a rally in stock markets, a weaker dollar and expectations that the global economic downturn may not be as severe as expected. (MARKETS-OIL (UPDATE 2), moved, by Christopher Johnson, 500 words)

Dollar dips on growing risk appetite, US jobs eyed

TOKYO - The dollar edges down against a basket of major currencies, with investors shifting money to higher-yielding currencies on the view that the recession afflicting the world's major economies is easing (MARKETS-FOREX (UPDATE 2), moved, by Rika Otsuka, 600 words)

Gold steady ahead of U.S. jobs data

LONDON - Gold steady, supported by a slightly weaker dollar and firmer oil prices as traders await direction from key U.S. non-farm payrolls data due later in the session (MARKETS-PRECIOUS (UPDATE 3), expect by 0930, by Jan Harvey, 600 words)

COMPANIES

Costs the focus in turbulent Aer Lingus meeting

DUBLIN - Loss-making Irish airline Aer Lingus faces questions about its future at an annual general meeting held in the wake of falling load and investor pressure over its costs (AERLINGUS/ (UPDATE 2) expect by 0900, by Andras Gergely, 500 words)

Mitsubishi electric car pricey even with subsidies

TOKYO - Japan's Mitsubishi Motors prices its i-MiEV electric vehicle at $47,580, less than a rival electric car but still far above the price of popular hybrid gas-electric vehicles (MITSUBISHI/ (UPDATE 2), moved, by Yumiko Nishitani, 500 words)

Carphone hopes to demerge in March, July at latest

LONDON - British telecoms and retail group Carphone Warehouse is aiming to complete its planned demerger in March next year, after its interim results, Chief Financial Officer Roger Taylor told Reuters (CARPHONE/ (INTERVIEW), moved, by Mark Potter, 600 words)

Arcandor launches second attempt for state aid

FRANKFURT - Stricken German retail and tourism group Arcandor has launched a second attempt to get help from the German government to secure its survival, the company said on Friday. (ARCANDOR, moved, by Eva Kuehnen, 400 words)

ECONOMY

Russia sees some economic rebound, more rate cuts

ST PETERSBURG - Russia's economy will contract by less than the 6.5 percent forecast by the International Monetary Fund as some sectors start to recover and capital outflows slow to around zero, officials said on Friday. (RUSSIA-FORUM (WRAPUP 1) moved, by Toni Vorobyova and Dmitry Zhdannikov, 490 words)

South Korea c.bank downplays recovery talk

SEOUL - South Korea's central bank downplays hopes for an early recovery in Asia's fourth-largest economy, saying a rebound in the first quarter owed almost wholly to fiscal stimulus spending (KOREA-ECONOMY/ (UPDATE 1), moved, by Lee Eun-yul and Seo Eun-kyung, 500 words)

ENVIRONMENT

China commentary chides rich nations on climate change

BEIJING - China's official news agency accuses rich countries of shirking their duty to fight climate change and seeking to divide developing countries, warning that negotiations for a new global climate pact face deep disputes + See also: - CHINA-ENVIRONMENT/ , moved, 300 words