Bulgaria to Seek Foreign Workers to Alleviate Labor Shortage, Datsov Says

(Bloomberg) -- Bulgaria, the European Union's poorest state, will allow workers from Turkey and other neighbors to move there, helping offset a labor shortage fueled by accelerating economic growth and an exodus of its own citizens.

Bulgaria will revise its laws to allow businesses to import foreign workers for construction, tourism and shipbuilding, said Deputy Finance Minister Lyubomir Datsov. The construction industry grew about 30 percent last year and tourism 10 percent.


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Turkey's Main Index Retreats, Led by Banking Shares: World's Biggest Mover

(Bloomberg) -- Turkish stocks dropped for the first time in three days as the government's push for double elections sparked a parliamentary debate, fuelling concern about political instability in the country.

Akbank TAS, Turkey's biggest company by market value, and Turkiye Garanti Bankasi AS, paced the retreat.


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ABN says working with RBS, talks continue

(Reuters) - The proposed $88 billion merger was thrown into doubt on Thursday when a Dutch court told the bank to freeze its $21 billion sale of U.S. unit LaSalle to Bank of America, making it easier for RBS and two partners to bid for the whole of the Netherlands' biggest bank.

The consortium of RBS, Santander and Fortis has indicated readiness to pay as much as 72 billion euros , and sources familiar with the matter said the RBS-led group was still trying to secure agreement from ABN.


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Reuters shares rise on consolidation talk: traders

(Reuters) - News Corp has bid $5 billion for Dow Jones, but the offer has been turned down by Dow Jones' controlling shareholder.

Both Reuters and Thomson declined to comment on the rumors.


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Gold Drops in London as Equity Gains Reduce Demand; Silver Little Changed

(Bloomberg) -- Gold fell, erasing this week's gain, as increased equity prices reduced demand for the precious metal as an alternative investment. Silver was little changed.

Investment demand for bullion in exchange-traded funds watched by the World Gold Council dropped 1.2 percent in the past two weeks after gains in world equities. The U.K.'s benchmark FTSE 100 Index is heading for a weekly gain of 2.3 percent.


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Hanson Shares Advance on Possible Takeover Approach From HeidelbergCement

(Bloomberg) -- Shares of Hanson Plc, the world's largest supplier of crushed rock used in construction, rose as much as 6.3 percent after HeidelbergCement AG said yesterday it may make a takeover offer for the company.

The stock climbed 65 pence, to 1,090 pence, and traded at 1,058 pence as of 8:24 a.m. in London, giving Hanson a market value of 7.54 billion pounds ($15.2 billion.) Shares of the company, based in the U.K. capital, surged 20 percent yesterday.


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UPDATE 2-Norske Skog first-quarter core earnings drop

(Reuters) - OSLO, May 4 - Norwegian papermaker Norske Skog in January through March from 1.04 billion in the same quarter a year earlier.


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