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Europe News Europe


  • LONDON, Oct 3- A close colleague of accused UBS. "rogue trader" Kweku Adoboli was interviewed by police as a suspect, a London court heard on Wednesday. Simon Taylor, who was a junior trader on the ETFs desk, was cross-examined on Wednesday by Adoboli's lawyer Charles Sherrard.

  • Indiana panel approves lottery outsourcing deal Wednesday, 3 Oct 2012 | 10:42 AM ET

    The commission voted 3-0, with two members absent, to approve a 15- year contract with Rhode Island- based GTECH that is expected to make $1.7 billion in profit over five years _ a $500 million increase over state projections. GTECH already provides and maintains vending machines for the Hoosier Lottery.

  • TEXT-Fitch affirms PICTS plc notes Wednesday, 3 Oct 2012 | 10:41 AM ET

    Oct 3- Fitch Ratings has affirmed PICTS plc's notes as follows:. The affirmation reflects the stable performance of Lloyds TSB Banking Group plc as reflected in its rating, of which Halifax Bank of Scotland is a wholly owned subsidiary.

  • Albania sells state oil company to Vetro Energy Wednesday, 3 Oct 2012 | 10:38 AM ET

    TIRANA, Albania-- Albania has sold its state-owned Albpetrol oil company for 850 million to the U.S.- and Singapore- based Vetro Energy consortium. Prime Minister Sali Berisha says the deal will also allow Vetro Energy to explore and exploit offshore oil and gas fields, build a refinery, and transport and distribute natural gas in Albania for 25 years.

  • LONDON, Oct 3- Theo Fennell PLC:. *Panel has consented to an extension of the deadline. *The company remains in offer discussions with eme.

  • PARIS, Oct 3- Societe Generale said on Wednesday it has started exclusive talks to sell its Greek unit Geniki Bank to Greek lender Piraeus Bank.

  • Markets subdued amid mixed US jobs signals Wednesday, 3 Oct 2012 | 10:32 AM ET

    LONDON-- Markets remained subdued Wednesday despite some moderately encouraging U.S. jobs figures as investors awaited a key government report later in the week and more clarity over Spain's request for a bailout.

  • Johns Hopkins get $6M to improve wind farm design Wednesday, 3 Oct 2012 | 10:31 AM ET

    BALTIMORE-- Johns Hopkins University says it will lead an international team of researchers studying how to improve wind farm design. The university said Tuesday that the National Science Foundation has awarded $6 million in grants to help fund the work.

  • Finnvera to debut EMTN programme before year-end Wednesday, 3 Oct 2012 | 10:30 AM ET

    LONDON, Oct 3- Finland's export credit agency Finnvera is set to become the country's latest sub-sovereign issuer when it executes its first transaction under a new euro medium-term note programme later this year.

  • The Nasdaq Composite Index rose 0.37 percent. **SAREPTA THERAPEUTICS INC, $30.30, up 102 pct. **INTERMUNE INC, $9.74, up 10 pct.

  • Poland c.bank chief says not worried by strong zloty Wednesday, 3 Oct 2012 | 10:26 AM ET

    WARSAW, Oct 3- Polish central bank head Marek Belka said on Wednesday he was not concerned a strong zloty currency would hurt the economy, after the bank's rate-setting council decided not to bow to pressure for a rate cut.

  • Ireland urges Europe to stand by bank aid pledge Wednesday, 3 Oct 2012 | 10:26 AM ET

    BRUSSELS, Oct 3- Ireland urged euro zone leaders on Wednesday to stick to a deal allowing the bloc's rescue fund to assist its ailing banks, in a move to head off threats that the agreement could be unwound.

  • Among the 12 applicants were Enerjisa Elektrik, co-owned by Sabanci Holding and Austria's Verbund, as well as Park Holding, Aksa Elektrik, Calik Enerji and Zorlu Holding.

  • Stocks edge higher following private hiring report Wednesday, 3 Oct 2012 | 10:25 AM ET

    "The price action today seems boring, but the economic data is pretty strong," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. The Institute for Supply Management said its index of service companies, which includes everything from financial firms to clothing stores, rose in September to the highest level since March.

  • Plan would give EU more say over country budgets Wednesday, 3 Oct 2012 | 10:22 AM ET

    BRUSSELS-- The 17 countries that use the euro would have to enter into contracts with the European Union that would bind them to implement specific economic policies and reforms, under proposals that would amount to a significant increase in power for the central EU government.

  • INSTANT VIEW 5-U.S. service sector picks up in Sept-ISM Wednesday, 3 Oct 2012 | 10:20 AM ET

    PAUL EDELSTEIN, ECONOMIST, IHS GLOBAL INSIGHT, LEXINGTON, MASSACHUSETTS. But exports orders fell again given what's happening in Europe and China and employment also slowed from August. If things don't deteriorate further in Europe and China, we should avoid a recession but the economy will not expand fast enough to create more job growth. "

  • Brent falls $3, US crude $2 as economic worries bite Wednesday, 3 Oct 2012 | 10:20 AM ET

    NEW YORK, Oct 3- Brent oil futures fell more than $3 and U.S. crude dropped more than $2 on Wednesday, hit by weak economic data from Europe and China along with sharp slides in gasoline and heating oil futures. Brent was down $3.20 at $108.37 a barrel by 10:13 a.m. EDT, having fallen as low as $108.22. U.S. crude was down $2.29 at $89.60, having dropped as low as $89.25.

  • UPDATE 1-New Marex Spectron CEO aims to double revenue Wednesday, 3 Oct 2012 | 10:17 AM ET

    *Pushes forward with growth drive in U.S. and Asia. LONDON, Oct 3- Brokerage Marex Spectron aims to at least double revenue under a newly appointed chief executive as it pushes forward with a growth drive in the United States and Asia and focuses on its strongest suit, commodities.

  • Luxfer Holdings rises in market debut Wednesday, 3 Oct 2012 | 10:17 AM ET

    Oct 3- American Depository Shares of Luxfer Holdings Plc, a British maker of high-performance materials and gas cylinders, rose 17 percent in their market debut, a day after the company priced its initial public offering below its expected price range.

  • MOSCOW, Oct 3- A long-running campaign by Norwegian telecoms group Telenor for an increased stake in Russia's Vimpelcom won potentially important backing on Wednesday, as the Russian antitrust regulator said it was positive on a proposed deal.