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Reuters - The European Commission wants to cooperate closely with the U.S. Securities and Exchange Commission (SEC) on the planned regulation of credit rating agencies, the German financial weekly Euro am Sonntag reported.

Citigroup chairman Win Bischoff has warned that house prices in Britain and the United States are likely to keep falling for another two years.

German tires-to-brakes group Continental <CONG.DE>, does not plan to deploy any poison pills in its defence against privately owned German ball bearings maker Schaeffler's $17.6 billion (8.8 billion pound) takeover approach.

Blue-chip stocks rose on Friday as banks rebounded after better-than-expected results from U.S. bank Citigroup <C.N> in the choppiest session in nearly six months, while a fall in miners curbed gains.

Fiscal rules may have to be relaxed after data on Friday showed public borrowing at record levels, threatening to breach the restrictions the government set itself on how much debt it can take on.