U.S. not targeting Switzerland's ZKB -paper

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* U.S. raising pressure on Switzerland over tax dodgers

* U.S. targeting Credit Suisse and smaller banks

ZURICH, Sept 7 (Reuters) - Swiss regional bank Zuercher Kantonalbank (ZKB) is not being investigated by the U.S. justice department, its new chairman was quoted as saying in an interview on Wednesday.

The United States has ratcheted up pressure on Switzerland in recent months, targeting Credit Suisse in a formal investigation and indicting a number of Swiss bankers, alleging they helped former UBS clients shift assets to other Swiss banks rather than coming clean to the taxman.

Switzerland bent strict bank secrecy laws to reveal the details of some 4,450 UBS clients so that UBS would avoid criminal charges.

"ZKB is not the target of an investigation of the U.S. justice department," Joerg Mueller-Ganz said in an interview with Swiss newspaper Finanz und Wirtschaft.

(Reporting by Katie Reid; Editing by Jon Loades-Carter)

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CORRECTED-Coca-Cola considers listing in Shanghai - paper

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(Corrects fifth paragraph to show Coca-Cola opened new plants in Inner Mongolia, Henan and Guangdong last October (not three plants in Inner Mongolia)

HONG KONG, June 1 (Reuters) - Coca-Cola Co , the world's largest soft-drink company, is interested in a possible listing on the proposed international board on the Shanghai Stock Exchange, Hong Kong Economic Journal reported on Wednesday.

"We are interested in exploring the opportunity of listing our stock on the Shanghai exchange," the newspaper quoted Geoff Walsh, public affairs and communications director for Asia Pacific of Coca-Cola, as saying.

"We continue to have positive discussions with Chinese government officials as we look at this opportunity," Walsh said. The paper gave no further listing details.

Coca-Cola's officials were not immediately available for comment.

Coke has said it will commit $2 billion in investment into China and last October opened three new plants in Inner Mongolia, Henan and Guangdong.

The New York Stock Exchange is working with China to launch the country's international board that will allow foreign firms to list on the mainland, in a move seen as a crucial step in developing its capital markets. [ID:nL4E7GK04N]

HSBC , Unilever and Standard Chartered Plc have said they want to list on the international board, which was originally slated to be launched in 2010. (Reporting by Xavier Ng and Donny Kwok; Editing by Jacqueline Wong and Matt Driskill)

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(Corrects fifth paragraph to show Coca-Cola opened new plants in Inner Mongolia, Henan and Guangdong last October (not three plants in Inner Mongolia)

HONG KONG, June 1 (Reuters) - Coca-Cola Co , the world's largest soft-drink company, is interested in a possible listing on the proposed international board on the Shanghai Stock Exchange, Hong Kong Economic Journal reported on Wednesday.

"We are interested in exploring the opportunity of listing our stock on the Shanghai exchange," the newspaper quoted Geoff Walsh, public affairs and communications director for Asia Pacific of Coca-Cola, as saying.

"We continue to have positive discussions with Chinese government officials as we look at this opportunity," Walsh said. The paper gave no further listing details.

Coca-Cola's officials were not immediately available for comment.

Coke has said it will commit $2 billion in investment into China and last October opened three new plants in Inner Mongolia, Henan and Guangdong.

The New York Stock Exchange is working with China to launch the country's international board that will allow foreign firms to list on the mainland, in a move seen as a crucial step in developing its capital markets. [ID:nL4E7GK04N]

HSBC , Unilever and Standard Chartered Plc have said they want to list on the international board, which was originally slated to be launched in 2010. (Reporting by Xavier Ng and Donny Kwok; Editing by Jacqueline Wong and Matt Driskill)

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(Corrects fifth paragraph to show Coca-Cola opened new plants in Inner Mongolia, Henan and Guangdong last October (not three plants in Inner Mongolia)

HONG KONG, June 1 (Reuters) - Coca-Cola Co , the world's largest soft-drink company, is interested in a possible listing on the proposed international board on the Shanghai Stock Exchange, Hong Kong Economic Journal reported on Wednesday.

"We are interested in exploring the opportunity of listing our stock on the Shanghai exchange," the newspaper quoted Geoff Walsh, public affairs and communications director for Asia Pacific of Coca-Cola, as saying.

"We continue to have positive discussions with Chinese government officials as we look at this opportunity," Walsh said. The paper gave no further listing details.

Coca-Cola's officials were not immediately available for comment.

Coke has said it will commit $2 billion in investment into China and last October opened three new plants in Inner Mongolia, Henan and Guangdong.

The New York Stock Exchange is working with China to launch the country's international board that will allow foreign firms to list on the mainland, in a move seen as a crucial step in developing its capital markets. [ID:nL4E7GK04N]

HSBC , Unilever and Standard Chartered Plc have said they want to list on the international board, which was originally slated to be launched in 2010. (Reporting by Xavier Ng and Donny Kwok; Editing by Jacqueline Wong and Matt Driskill)

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UPDATE 1-Munich Re eyes North America expansion -paper

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* Munich Re eyes more acquisitions in the United States

* Says prices for catastrophe risk cover rising worldwide

* Share rises 1.9 pct, outpaces 1.2 pct insurance index gain

(Adds analyst's comment, background)

FRANKFURT, May 31 (Reuters) - Munich Re (MUVGn.DE) sees potential for expansion in the United States, possibly through acquisitions, a board member told a German newspaper.

The world's biggest reinsurer was on the lookout for acquisitions similar to its 2008 purchase of the Midland Company and its 2009 purchase of insurer Hartford Steam Boiler, Torsten Jeworrek told the Financial Times Deutschland in an interview.

"I can imagine further acquisitions there (in the United States)," said Jeworrek, who is the board member responsible for the group's reinsurance business.

Analysts said any takeovers were unlikely to be on a large scale.

"We are sceptical with regards to acquisitions in the United States," said DZ Bank analyst Thorsten Wenzel in a note to clients.

"However, any acquisitions are likely to be small scale niche businesses," Wenzel said.

Munich Re's share rose 1.9 percent to 107.00 euros by 0807 GMT, outpacing a 1.2 percent gain the Stoxx Europe 600 insurance index .SXIP.

Aside from feeling underrepresented in the United States, the group also saw Asian and Latin American markets as having good potential, Jeworrek said.

PRICES RISING

Following the earthquake and tsunami in Japan, prices for catastrophe insurance cover have been rising by double-digit percentages in affected areas, Jeworrek said, adding that he expected prices for this type of cover to rise worldwide.

A sample of damage three claims stemming from the Japanese disaster confirm Munich Re's estimate that it will face a claims bill of about 1.5 billion euros ($2.14 billion), Jeworrek said.

DZ Bank's Wenzel said the price rise was positive but certainly was no surprise given the scale of the disaster.

"It is worth mentioning that Jeworrek does not seem to expect a broad based turn of the reinsurance cycle," Wenzel said.

Reinsurers, who make money by providing a financial backstop to insurance companies in the event of big disasters like earthquakes and hurricanes, expect to pay an estimated $50 billion in damage claims from catastrophes in the early months of this year, including earthquakes in Japan and New Zealand and flooding in Australia.

Industry observers say further extraordinary loss claims this year -- for example if big hurricanes make landfall in the United States in the coming months -- could prompt a broad-based increase in reinsurance prices. [ID:nLDE74J1PJ]

The North Atlantic hurricanes season officially starts on Wednesday and runs through Nov. 30. [ID:nLDE74M1BV]

Forecaster Tropical Storm Risk last week said it expected four major hurricanes this year, compared with a long-term average of three, with a 59 percent chance of an above-average number of storms hitting the U.S. coastline. [ID:nN24284628]

(Reporting by Jonathan Gould and Edward Taylor; Editing by Andrew Callus) ($1=.7000 Euro)

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* Munich Re eyes more acquisitions in the United States

* Says prices for catastrophe risk cover rising worldwide

* Share rises 1.9 pct, outpaces 1.2 pct insurance index gain

(Adds analyst's comment, background)

FRANKFURT, May 31 (Reuters) - Munich Re (MUVGn.DE) sees potential for expansion in the United States, possibly through acquisitions, a board member told a German newspaper.

The world's biggest reinsurer was on the lookout for acquisitions similar to its 2008 purchase of the Midland Company and its 2009 purchase of insurer Hartford Steam Boiler, Torsten Jeworrek told the Financial Times Deutschland in an interview.

"I can imagine further acquisitions there (in the United States)," said Jeworrek, who is the board member responsible for the group's reinsurance business.

Analysts said any takeovers were unlikely to be on a large scale.

"We are sceptical with regards to acquisitions in the United States," said DZ Bank analyst Thorsten Wenzel in a note to clients.

"However, any acquisitions are likely to be small scale niche businesses," Wenzel said.

Munich Re's share rose 1.9 percent to 107.00 euros by 0807 GMT, outpacing a 1.2 percent gain the Stoxx Europe 600 insurance index .SXIP.

Aside from feeling underrepresented in the United States, the group also saw Asian and Latin American markets as having good potential, Jeworrek said.

PRICES RISING

Following the earthquake and tsunami in Japan, prices for catastrophe insurance cover have been rising by double-digit percentages in affected areas, Jeworrek said, adding that he expected prices for this type of cover to rise worldwide.

A sample of damage three claims stemming from the Japanese disaster confirm Munich Re's estimate that it will face a claims bill of about 1.5 billion euros ($2.14 billion), Jeworrek said.

DZ Bank's Wenzel said the price rise was positive but certainly was no surprise given the scale of the disaster.

"It is worth mentioning that Jeworrek does not seem to expect a broad based turn of the reinsurance cycle," Wenzel said.

Reinsurers, who make money by providing a financial backstop to insurance companies in the event of big disasters like earthquakes and hurricanes, expect to pay an estimated $50 billion in damage claims from catastrophes in the early months of this year, including earthquakes in Japan and New Zealand and flooding in Australia.

Industry observers say further extraordinary loss claims this year -- for example if big hurricanes make landfall in the United States in the coming months -- could prompt a broad-based increase in reinsurance prices. [ID:nLDE74J1PJ]

The North Atlantic hurricanes season officially starts on Wednesday and runs through Nov. 30. [ID:nLDE74M1BV]

Forecaster Tropical Storm Risk last week said it expected four major hurricanes this year, compared with a long-term average of three, with a 59 percent chance of an above-average number of storms hitting the U.S. coastline. [ID:nN24284628]

(Reporting by Jonathan Gould and Edward Taylor; Editing by Andrew Callus) ($1=.7000 Euro)

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* Munich Re eyes more acquisitions in the United States

* Says prices for catastrophe risk cover rising worldwide

* Share rises 1.9 pct, outpaces 1.2 pct insurance index gain

(Adds analyst's comment, background)

FRANKFURT, May 31 (Reuters) - Munich Re (MUVGn.DE) sees potential for expansion in the United States, possibly through acquisitions, a board member told a German newspaper.

The world's biggest reinsurer was on the lookout for acquisitions similar to its 2008 purchase of the Midland Company and its 2009 purchase of insurer Hartford Steam Boiler, Torsten Jeworrek told the Financial Times Deutschland in an interview.

"I can imagine further acquisitions there (in the United States)," said Jeworrek, who is the board member responsible for the group's reinsurance business.

Analysts said any takeovers were unlikely to be on a large scale.

"We are sceptical with regards to acquisitions in the United States," said DZ Bank analyst Thorsten Wenzel in a note to clients.

"However, any acquisitions are likely to be small scale niche businesses," Wenzel said.

Munich Re's share rose 1.9 percent to 107.00 euros by 0807 GMT, outpacing a 1.2 percent gain the Stoxx Europe 600 insurance index .SXIP.

Aside from feeling underrepresented in the United States, the group also saw Asian and Latin American markets as having good potential, Jeworrek said.

PRICES RISING

Following the earthquake and tsunami in Japan, prices for catastrophe insurance cover have been rising by double-digit percentages in affected areas, Jeworrek said, adding that he expected prices for this type of cover to rise worldwide.

A sample of damage three claims stemming from the Japanese disaster confirm Munich Re's estimate that it will face a claims bill of about 1.5 billion euros ($2.14 billion), Jeworrek said.

DZ Bank's Wenzel said the price rise was positive but certainly was no surprise given the scale of the disaster.

"It is worth mentioning that Jeworrek does not seem to expect a broad based turn of the reinsurance cycle," Wenzel said.

Reinsurers, who make money by providing a financial backstop to insurance companies in the event of big disasters like earthquakes and hurricanes, expect to pay an estimated $50 billion in damage claims from catastrophes in the early months of this year, including earthquakes in Japan and New Zealand and flooding in Australia.

Industry observers say further extraordinary loss claims this year -- for example if big hurricanes make landfall in the United States in the coming months -- could prompt a broad-based increase in reinsurance prices. [ID:nLDE74J1PJ]

The North Atlantic hurricanes season officially starts on Wednesday and runs through Nov. 30. [ID:nLDE74M1BV]

Forecaster Tropical Storm Risk last week said it expected four major hurricanes this year, compared with a long-term average of three, with a 59 percent chance of an above-average number of storms hitting the U.S. coastline. [ID:nN24284628]

(Reporting by Jonathan Gould and Edward Taylor; Editing by Andrew Callus) ($1=.7000 Euro)

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Norway's regional oil rules under threat -paper

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OSLO | Tue May 31, 2011 4:00am EDT

OSLO May 31 (Reuters) - European regulators seek to weaken Norway's ability to force oil companies to establish localised headquarters, chipping away at a pillar of Norway's oil policy aimed at regional job creation, a newspaper said on Tuesday.

The Aftenposten daily said the European Economic Area (EEA) Surveillance Authority has for two years sought to change the Norwegian regulations, which boost costs for oil producers by forcing them to set up local offices in areas near fields.

The policy has helped Arctic towns such as Hammerfest, where Statoil (STL.OL), France's Total (TOTF.PA) and GDF Suez (GSZ.PA), U.S. company Hess (HES.N) and German firm RWE Dea [RWEDE.UL] own a liquefied natural gas plant.

"The harsh reality is that companies may choose to engage from Oslo, Stavanger or an EU country if they wish, without the (Norwegian) government intervening," Aftenposten quoted lawyer Jon Oeyvind Eide Midthjell as saying.

Aftenposten said that the Norwegian oil ministry had sought to prevent a public debate on the subject, fearing it would upset local constituencies.

Norway is not in the European Union but as a member of the EEA it abides by the block's economic rules in exchange for access to its markets.

(Reporting by Wojciech Moskwa; editing by Jason Neely)

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OSLO | Tue May 31, 2011 4:00am EDT

OSLO May 31 (Reuters) - European regulators seek to weaken Norway's ability to force oil companies to establish localised headquarters, chipping away at a pillar of Norway's oil policy aimed at regional job creation, a newspaper said on Tuesday.

The Aftenposten daily said the European Economic Area (EEA) Surveillance Authority has for two years sought to change the Norwegian regulations, which boost costs for oil producers by forcing them to set up local offices in areas near fields.

The policy has helped Arctic towns such as Hammerfest, where Statoil (STL.OL), France's Total (TOTF.PA) and GDF Suez (GSZ.PA), U.S. company Hess (HES.N) and German firm RWE Dea [RWEDE.UL] own a liquefied natural gas plant.

"The harsh reality is that companies may choose to engage from Oslo, Stavanger or an EU country if they wish, without the (Norwegian) government intervening," Aftenposten quoted lawyer Jon Oeyvind Eide Midthjell as saying.

Aftenposten said that the Norwegian oil ministry had sought to prevent a public debate on the subject, fearing it would upset local constituencies.

Norway is not in the European Union but as a member of the EEA it abides by the block's economic rules in exchange for access to its markets.

(Reporting by Wojciech Moskwa; editing by Jason Neely)

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OSLO | Tue May 31, 2011 4:00am EDT

OSLO May 31 (Reuters) - European regulators seek to weaken Norway's ability to force oil companies to establish localised headquarters, chipping away at a pillar of Norway's oil policy aimed at regional job creation, a newspaper said on Tuesday.

The Aftenposten daily said the European Economic Area (EEA) Surveillance Authority has for two years sought to change the Norwegian regulations, which boost costs for oil producers by forcing them to set up local offices in areas near fields.

The policy has helped Arctic towns such as Hammerfest, where Statoil (STL.OL), France's Total (TOTF.PA) and GDF Suez (GSZ.PA), U.S. company Hess (HES.N) and German firm RWE Dea [RWEDE.UL] own a liquefied natural gas plant.

"The harsh reality is that companies may choose to engage from Oslo, Stavanger or an EU country if they wish, without the (Norwegian) government intervening," Aftenposten quoted lawyer Jon Oeyvind Eide Midthjell as saying.

Aftenposten said that the Norwegian oil ministry had sought to prevent a public debate on the subject, fearing it would upset local constituencies.

Norway is not in the European Union but as a member of the EEA it abides by the block's economic rules in exchange for access to its markets.

(Reporting by Wojciech Moskwa; editing by Jason Neely)

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