MILAN, Nov 30 (Reuters) - European shares were expected to open flat to lower on Monday, following losses in Asia overnight, with investors cautious ahead of a much-anticipated policy decision by the European Central Bank on Thursday.
Futures on the Euro STOXX 50, Germany’s DAX, France’s CAC and Britain’s FTSE fell 0.07-0.16 percent.
Asian shares fell on Monday as Chinese stocks extended last week’s sharp losses, while the yuan bounced in volatile trade hours ahead of an IMF decision on whether to promote it to a basket of global reserve currencies.
On Friday, the pan-European FTSEurofirst 300 index retreated from a three-month high to end down 0.26 percent at 1,512.31 points.
The lender has been devising complex international tax avoidance strategies for some of its largest clients, including AB InBev and Archer Daniels Midland, the Financial Times reported on Monday, citing documents and people familiar with the matter.
The stock exchange operator will launch on Monday an amended form of share placements on its public market, encouraging investors to trade large blocks of shares hidden from public view without breaching new rules on controversial “dark pools”, the Financial Times reported.
The airline on Saturday signed an agreement with services union Verdi on pay for about 33,000 ground personnel.
The software maker expects revenues from its cloud business to surpass traditional software licensing revenues in 2018, CFO Luka Mucic told German daily Boersen-Zeitung.
Germany could share responsibility for phasing out nuclear power with energy firms by setting up a publicly managed trust, environment minister Barbara Hendricks told Deutschlandfunk radio.
The carmaker will have to recall 2.46 million cars fitted with the illegal emission control software in Germany alone, newspaper Die Welt reported on Monday.
Separately, VW top executives knew a year ago that some of the company’s cars were markedly less fuel efficient than had been officially stated, Sunday paper Bild am Sonntag reported.
India’s SpiceJet is in talks with Boeing and Airbus to buy more than 150 planes, the airline’s chairman said on Sunday, predicting he would decide which manufacturer to place the order with by the end of March 2016.
Investment bank Lazard is working with Sanofi’s management to prepare a sale or listing of its Merial animal health unit, aiming to land the leading advisory job for the deal, which could value the business at up 12 billion euros, sources familiar with the matter said.
The board of Nissan will meet on Monday to discuss the Japanese carmaker’s negotiations with France over increased state influence on Renault, its parent company and alliance partner, newspaper Les Echos reported.
French Economy Minister Emmanuel Macron said he wants to make rules governing the management of supplementary company pensions more flexible to enable the funds to be invested in innovative businesses.
An international arbitration court has cut by around 1 billion euros the cost of Libyan gas that Italian oil group Eni has sold to rival Edison, a unit of French energy giant EDF, under a long-term supply contract. Edison said it expected the ruling to have a positive impact of 850 million euros this year on its earnings before interest, tax, depreciation and amortisation (EBITDA).
The brewer is planning to sell the Peroni and Grolsch brands it would gain from its acquisition of SABMiller to head off European regulatory concerns over the 71 billion pound brewery merger, the Financial Times said.
Moody’s downgrades Abengoa Mexico to Caa2 with a negative outlook.
Separately, various bank creditors of Spain’s Abengoa will meet KPMG on Monday, a source involved in the talks said on Friday.
The drugmaker has dropped out of a high-profile project to develop an antibiotic for treating “superbug” infections.
The government is still working on a plan to help the whole banking sector shed some 200 billion euros of bad loans and could grant some sort of guarantee to revive the market for non-performing loans Economy Minister Pier Carlo Padoan told Il Corriere della Sera on Sunday. Padoan added a decision on the issue was expected only next year.
An international arbitration court has cut by around 1 billion euros ($1.06 billion) the cost of Libyan gas that Italian oil group Eni has sold to rival Edison under a long-term supply contract.
The European Central Bank has asked Carige to restrict dividend payments to shareholders as it slightly lowered the bank’s minimum CET1 capital requirement to 11.25 percent at the end of a review process.
------------------------------------------------------------------------------ > Asia shares fall on China caution, yuan jumpy ahead of IMF decision > Wall St ends flat; Disney, retailers dip on sales worries > Nikkei falls as investors cautious before big events this week > U.S. bond prices firm as world stock markets drop > Dollar stands tall, euro pressured ahead of ECB meeting, yuan volatile > Gold set for worst month in 2-1/2 years on U.S. rate hike view > Copper, nickel slip even as China smelters plan output cuts > Brent crude dips on firm dollar ahead of OPEC meeting (Reporting by Danilo Masoni)