Croatian PM Plenkovic says "everything is open" in EU top jobs fight

BRUSSELS, July 1 (Reuters) – Croatian Prime Minister Andrej Plenkovic on Monday said nothing had been decided yet in marathon overnight negotiations between EU leaders over the allocation of the bloc’s top jobs.

“Everything is open,” Plenkovic said, adding talks broke because the leaders were too tired to continue. (Reporting by Alissa de Carbonnel Editing by Foo Yun Chee)

GAN bets on higher revenue after strong 2Q

GAN PLC (GAN.LN) on Monday raised its revenue outlook for the full year after its performance for the second quarter ended June 30 exceeded the company’s expectations.

The gambling-software company said the seasonal decline in online gambling volumes that are normal for the early months of summer was mitigated by various factors, including high demand for internet sports betting on both basketball and baseball in New Jersey.

For 2019 the company now expects to see high double-digit revenue growth compared with previous expectations of mid-to-high double-digit revenue growth.

The company’s shares got a boost in early trading and at 0810 GMT were up 5% at 73.50 pence.

EU probes state aid for Spanish Peugeot plant

European antitrust authorities are opening an investigation into whether Spain’s plan to grant 20.7 million euros ($23.5 million) to Peugeot SA (UG.FR) for investing in one of its plants complies with EU rules.

Peugeot began a EUR500 million investment program at the site in Vigo, Galicia in 2015, and Spain notified the European Commission of its planned grant in November 2017.

The European Commission said it doubts the grant complies with state-aid rules, as investments by large companies in existing production facilities are generally not eligible for public support.

"Public investment is important to foster economic growth in disadvantaged regions in Europe. However, we need to avoid harmful subsidy races between Member States," European Competition Commissioner Margrethe Vestager said.

Genesee & Wyoming to be bought by Brookfield, GIC in $8.4 billion deal including debt

(Reuters) – U.S. freight railroads operator Genesee & Wyoming Inc (GWR.N) on Monday agreed to be acquired by Toronto-based Brookfield Asset Management Inc (BAMa.TO) and Singaporean sovereign wealth fund GIC in a deal valued at about $8.4 billion, including debt.

The announcement comes a day after Reuters reported news of the development, citing sources.

(The story is refiled to add dropped word in the headline.)

Performance Food Group to buy Reinhart Foodservice in a $2 billion deal

(Reuters) – Foodservice distributor Performance Food Group Co (PFGC.N) said on Monday it would buy privately held rival Reinhart Foodservice LLC from Reyes Holdings LLC in a deal valued at $2 billion.

The deal comes as food distributors struggle with rising transportation costs that are denting margins.

“This transaction provides us with greater overall scale, a diverse customer base…,” Performance Food Group Chief Executive Officer George Holm said in a statement.

U.K. consumer credit growth slows in May

LONDON–Consumer credit growth in the U.K. rose in May at its slowest annual pace for five years, adding to signs the economy lost speed in the second quarter.

The Bank of England said Monday that consumer credit grew at an annual rate of 5.6% in May, the slowest pace of growth since April 2014. Unsecured borrowing fell to 496 million pounds ($629.4 million), net of repayments, down from GBP800 million in April, figures showed, although credit card borrowing rose slightly on the month.

The data suggest consumers trimmed spending in the spring and offer the latest sign that the 2.0% annualized pace of growth the economy notched up in the first quarter won’t be matched in the second. The BOE expects the economy to barely grow at all, as a boost from stockbuilding that powered growth at the start of the year fades.

Sputtering factory output and tensions over trade have prompted central banks including the U.S. Federal Reserve and the European Central Bank to rethink interest-rate plans. Both are now signaling they may opt for a dose of stimulus in the coming months to revive slackening growth.

The BOE, by contrast, has said it expects to gently nudge up borrowing costs in the U.K. over the next two to three years to keep a lid on inflation, but only if the U.K.’s planned departure from the European Union on Oct. 31 goes smoothly.

Write to Jason Douglas at [email protected]

Dow Jones Newswires

China nonferrous gold 2018 pretax loss narrows

China Nonferrous Gold Ltd. (CNG.LN) reported Monday a narrowed pretax loss for 2018 mainly due to a 2017 impairment booked against mines under construction, and said it expects production capacity to double by 2021 now that the Pakrut gold mine is in full production.

The Tajikistan-focused gold miner said that for the year ended Dec. 31 it made a pretax loss of $4.3 million compared with a loss of $15 million in 2017.

Revenue was $17.9 million, compared with $5.8 million the year before.

The company also said it has signed a loan extension agreement with CNMC International Capitals Company Ltd., an associate of China Nonferrous Metals International Mining Co., Ltd.–the company’s 38.6% shareholder–on its previously agreed $146.5 million loan.

The loan is being issued in three parts–$120 million, $20 million and $6.5 million. Of this, the $20 million loan is due to be repaid on Nov. 26 while the other two payments are due on Dec. 20.

The company said it is in talks for a wider refinancing of the business in order to meet the new repayment schedule.

Shares at 0820 GMT were up 0.41 pence, or 9%, at 5 pence.