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LONDON (Reuters) - Possible El Nino weather conditions later this year could exacerbate a potential global cocoa deficit in the coming 2012/13 season, causing prices to climb, the International Cocoa Organization (ICCO) said. "We know that when we have El Nino conditions it's likely that this will impact negatively on world cocoa production. We would have less production and this would have an impact on price," ICCO statistician Laurent Pipitone told Reuters. ...

Members of France's new Socialist-led government will promise Thursday to take a pay cut, a gesture of shared sacrifice by leaders who must now both reduce the country's massive debts and tackle spiraling unemployment.

HARARE (Reuters) - Zimbabwe's may cut its economic growth projections for this year, while inflation forecasts could be higher than previously expected, Finance Minister Tendai Biti said on Thursday. Since 2009, the southern African country has been recovering from a decade of decline, but the economy remains fragile with coalition government partners President Robert Mugabe and Prime Minister Morgan Tsvangirai bickering over policy. Last year Biti projected the economy was expected to grow by 9.4 percent in 2012, driven by strong performances in mining and agriculture. ...

HONG KONG/LONDON (Reuters) - HSBC doubled the annual revenue boost expected from its turnaround plan to $2 billion, as Europe's biggest bank picks 22 markets to drive its growth and eyes more cost cutting to cope with new regulations in the wake of the financial crisis. Chief Executive Stuart Gulliver said on Thursday that, one year into a three-year recovery plan, HSBC was on target to meet profitability and cost savings targets. ...

Diane Kruger must have arrived in France with a lot of luggage. On Wednesday, Day 1 of the 12-day Cannes Film Festival, Kruger, a member of the prestigious jury, turned up in two different outfits.

FRANKFURT (Reuters) - A Greek exit from the euro zone could expose the European Central Bank and the currency bloc it seeks to protect to hundreds of billions of euros in losses, landing Germany and its partners with a crippling bill. A Greek departure would take Europe into uncharted legal waters. The size of the burden other euro zone states could bear gives them a powerful incentive to keep Greece in the currency club. ...

(Reuters) - Berkshire Hathaway Inc will buy all newspapers owned by Media General Inc, with the exception of Tampa group, for $142 million in cash, the companies said. Media General said it is in discussions with other prospective buyers for its Tampa print assets. Berkshire Hathaway will also provide Media General with a $400 million term loan and a $45 million revolving credit line. (Reporting by Supantha Mukherjee in Bangalore; Editing by Viraj Nair)

Popular Detroit pastor and gospel singer Marvin Winans was assaulted and carjacked Wednesday afternoon at a gas station on the city's west side.