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Molson Coors Canada wins injunction in tussle with Miller

The Ontario Superior Court on Thursday granted Molson Coors a temporary injunction that prevents Miller Brewing Co from ending a license agreement with Molson's Canadian arm before a trial scheduled for December. _0"> In February, Miller, a subsidiary of SABMiller Plc, had announced that it planned to end the deal with Molson Coors Canadian arm as it believed its partner was not doing enough to promote Miller brands in Canada. Molson Coors in turn filed a lawsuit seeking to prevent the termination of the license agreement. Miller had provided Molson with a notice of termination in January, and it had been aiming to end the agreement on July 22.   Miller said on Thursday it was disappointed with the court's decision, but said it remains confident in its position ahead of the trial. A spokesman for Molson was not immediately reachable for comment. "We remain firm in our expectation that the Court will agree that we adhered to the terms of our Canadian license

Greek PM calls on junior partner to back him after talks collapse

Greek Prime Minister Antonis Samaras on Friday called on the small Democratic Left party in his ruling coalition to back him after talks to resume state television broadcasts collapsed, leaving the government in disarray. _0"> Samaras said he had compromised by offering to re-hire 2,000 out of the 2,600 ERT workers who were fired when it was yanked off air last week, which was accepted by the Socialist PASOK party but rejected by the Democratic Left.   "I want us to continue together as we started but I will move on either way," Samaras said in a televised statement. "Our aim is to conclude our effort to save the country, always with a four-year term in the horizon. We hope for the Democratic Left's support."

UPDATE 4-Barry weakens to depression, moving inland into Mexico

The Mexican state of Veracruz was hit by heavy rains on Thursday after Tropical Storm Barry moved away from Mexico's major oil installations and weakened to a Tropical Depression. Only one of Mexico's three major oil-exporting ports - Dos Bocas - remained closed, but state oil monopoly Pemex said it was unaffected by the storm. Almost all of Mexico's crude oil exports, which totaled 1.275 million barrels per day (bpd) in April, are shipped to refineries on the Gulf Coast of the United States from the ports of Coatzacoalcos, Dos Bocas and Cayo Arcas.   The rains falling in the town of Actopan in Veracruz were more severe than those during Hurricane Karl, a Category 3 storm that battered the state in 2010, said town spokesman Rafael Alberto Moreno. There is a risk that the Actopan River, one of the biggest in the state, might overflow and townspeople were being evacuated from their homes, he said. Barry is expected to lose strength during the course of Thursday, and th

Greek coalition party to decide whether to back government-sources

Greece's Democratic Left, the smallest party in the ruling coalition, will decide on Friday whether to continue in the government after a row over the closure of state broadcaster ERT, two party officials said on Friday. _0"> The party's lawmakers will meet at 0730 GMT on Friday to discuss their position, the officials told Reuters. "The Democratic Left will decide whether it will continue to back the government or not," one official said.   Another party official, Dimitris Hatzisokratis, said it was not the party's intention to push the country to early elections.

UPDATE 4-Bank of Tokyo-Mitsubishi to pay N.Y. $250 mln for wire violations

The Bank of Tokyo-Mitsubishi UFJ has agreed to pay New York state $250 million for deleting information from $100 billion in wire transfers that authorities could have used to police transactions with sanctioned countries like Iran . The settlement, announced on Thursday, is the latest example of New York state's chief financial regulator, Benjamin Lawsky, flexing the agency's muscle. Lawsky extracted a much bigger sum than the U.S. Treasury Department, which settled with the bank over sanctions violations in December 2012 for $8.57 million.   Lawsky has gone his own way before, drawing criticism from other regulators. Last year, when a group of government authorities were investigating Standard Chartered Plc, the New York regulator threatened to revoke the bank's state license, and stopped working with other agencies. In August, Standard Chartered agreed to pay the state $340 million over transactions linked to Iran and other countries. Four months later, the bank set

EU to decide who pays when banks fail

The European Union will seek on Friday to forge rules to force losses on large savers when banks fail, a sensitive reform that could shape how the euro zone deals with its sickly banks. Finance ministers in Luxembourg will try to resolve one of the most difficult questions posed by Europe's banking crisis - how to shut failed banks without sowing panic or burdening taxpayers.   "The costs of future restructurings can't be wished away," said a senior EU official involved in the talks. "We need a mechanism to shift the burden away from taxpayers." The European Union spent the equivalent of a third of its economic output on saving its banks between 2008 and 2011, plundering taxpayer cash but struggling to contain the crisis and in the case of Ireland , almost bankrupting the country. But France and Germany are divided over how strict the new rules should be, with Paris worried that imposing losses on depositors could prompt a bank run. A draft EU law th

UPDATE 1-Greece to avoid funding problems if it delivers on bailout program-IMF

The International Monetary Fund on Thursday urged Greece to speedily deliver on its bailout program, adding that doing so would ensure the country encounters "no financing problems." There is an ongoing review of the Greek bailout program, the IMF said on Thursday. "If the review is concluded by the end of July, as expected, no financing problems will arise because the program is financed till end-July 2014," IMF spokesman Gerry Rice said in a brief statement.   The Financial Times reported on Thursday the IMF might suspend aid to Greece next month unless euro zone leaders plugged a funding gap in the Greek rescue program. Reuters reported on Wednesday that European foot-dragging could leave Greece some 2 billion euros ($2.7 billion) short this year as some euro zone creditors were reluctant to roll over their Greek debt holdings. Greece's creditors - euro zone countries, the European Central Bank and the International Monetary Fund - agreed last Decembe