Business Today: Global shares gain on central bank hopes, eyes on ECB

	Click to View in Browser 09/3/2012 Global shares gain on central bank hopes, eyes on ECB LONDON (Reuters) - European shares crept higher on Monday after weak factory data highlighted the poor health of the global economy, keeping alive talk of fresh stimulus from major central banks. Samsung to review 250 Chinese suppliers for labor violations SEOUL (Reuters) - Samsung Electronics Co said on Monday it would inspect 250 Chinese companies which make products for the South Korean firm to ensure no labor laws are broken after a U.S.-based group accused one of its suppliers of using child labor. Oracle to appeal U.S. copyright damages case: SAP STUTTGART (Reuters) - U.S. business software maker Oracle has launched an appeal on a five-year long court case that could see SAP pay millions more in damages over copyright infringement. At Jackson Hole, a growing fear for Fed independence JACKSON HOLE, Wyoming (Reuters) - Increasing political encroachment on the Federal Reserve, particularly from the Republican Party, could threaten the central bank's hard-won independence and undermine confidence in the nearly 100-year old institution. SocGen names new head of international retail PARIS (Reuters) - Societe Generale said it was replacing the head of its international retail operations, which have seen mixed results in markets such as Russia and Greece. IRS warned, but did not act on tax strategy for private equity WASHINGTON (Reuters) - U.S. tax authorities took no formal action after launching a probe five years ago of tax strategies used by private equity managers at firms such as Bain Capital LLC, leaving a legal gray area that is now being examined by New York's attorney general. Barclays sees Middle East driving investment bank DUBAI (Reuters) - The Middle East will be an important growth area in coming years for investment banks, including Barclays , as local wealth funds put their oil dollars to work buying European assets, a senior executive at the British bank said. Spain bank rescue fund approves Bankia aid MADRID (Reuters) - Spain's national bank rescue fund approved an immediate capital injection of 4.5 billion euros ($5.66 billion) into ailing lender Bankia on Monday, the Fund for Orderly Bank Restructuring, or FROB, said in a statement. ECB should only supervise big banks: Schaeuble BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble rejected on Monday a European Commission plan to give the European Central Bank sweeping powers to monitor all euro zone banks, saying it should instead focus only on systemically important institutions. Credit Suisse denies Swiss help Germans dodge tax pact ZURICH (Reuters) - The head of Credit Suisse denied on Monday that Swiss banks have been undermining a tax pact with Germany by helping wealthy clients move funds to rival financial centers such as Singapore to avoid becoming subject to taxes. Related Video Euro zone enters crunch month Bankia to receive emergency funds: source Economic News Bernanke says Fed ready to act but short on specifics Central banks debate limits of power at Jackson Hole A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend