UPDATE 1-German EconMin sees in-depth EU probe of Opel deal
* Berlin expects EU to launch Phase II antitrust probe
* Head of Opel task force sceptical about Magna's concept
* Expects to get Opel business plans by mid- to end-July
* Says no in-depth probe planned for state aid
By Christiaan Hetzner
MUNICH, July 3 (Reuters) - A top German government official warned bidders for Opel on Friday to develop a business plan that can meet European Union guidelines on state subsidies because Berlin expects an in-depth anti-trust probe of any deal.
"Yes, clearly," Deputy Economics Minister Jochen Homann told reporters when asked whether he counted on Brussels examining any deal under a lengthier, so-called 'phase II' investigation.
He declined to specify what issues might concern EU competition authorities since the German government is still awaiting a business plan for a takeover of General Motors' GMGMQ.PK Opel, which he hoped to get by the end of July. Continued...
UK joins G20 push for world levy on banks
Britain threw its weight behind proposals to impose a global levy on banks to fund future bailouts and called on the G20 to work toward a $100 billion deal to meet the cost of climate change. Full Article | Full Coverage
Galleon case
U.S. insider trading probe widens
Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal. Full Article





India
US
UK









