Europe News Europe

  • LONDON, Oct 11- Europe's top trading firms warned that plans for a transaction tax in the region will burden pension funds with higher charges because traders will shift the extra costs to their clients.

  • The data strengthened hopes that credit rating agencies could upgrade soon upgrade Turkey's rating. Turkey's August current account deficit fell to $1.18 billion, its lowest level since October 2009, central bank data showed, and was smaller than a Reuters poll forecast for a deficit of $1.750 billion.

  • LONDON, Oct 11- West African crude oil differentials held steady on Thursday, supported by several outstanding Asian tenders, which traders said could absorb up to four cargoes from the region. *Around 15 cargoes of Nigerian crude oil remained unsold for lifting in November, including Qua Iboe, Bonny Light, Bonga, and Forcados.

  • By Catherine Bosley and Steve Slater. ZURICH/ LONDON, Oct 11- Nationally important banks will need to hold extra capital from 2016 to cushion the impact on their domestic economies if they hit trouble, but the global banking watchdog will leave it up to national regulators to say how much more.

  • *Canada blames Europe, U.S. economies for falling revenues. *Few see Q3 economic growth meeting Bank of Canada forecast. OTTAWA, Oct 11- Canada's imports in August dropped by a surprising 3.1 percent from July, suggesting the Canadian economy is struggling to cope with weak international markets and slowing domestic demand.

  • --We believe that Germany- based retailer Metro AG's. profitability will continue to weaken as indicated by the company's 2012 EBIT revision to EUR2 billion from almost EUR2.4 billion. Rating Action On Oct. 11, 2012, Standard& Poor's Ratings Services revised its long-term corporate credit rating on German retailer Metro AG to' BBB-' from' BBB'.

  • BRUSSELS, Oct 11- The European Commission said on Thursday it has asked the World Trade Organisation to set up a panel to look into what Brussels sees as the United States' refusal to stop subsidies to planemaker Boeing in the world's largest trade dispute.

  • PARIS-- A bumper season for the French national dish of Coquilles St. Jacques has turned into a bitter dispute in the English Channel, as French fishermen angry over British expansion into their waters surrounded British boats in a show of maritime force.

  • PARIS, Oct 11- European stocks rallied on Thursday as a drop in U.S. jobless claims fuelled recovery hopes for the world's biggest economy while Spain's credit downgrade boosted expectations that Madrid would soon request a bailout.

  • VILNIUS, Oct 11- Lithuanian Prime Minister Andrius Kubilius hit out at centre-left opposition budget plans on Thursday, warning of danger to fiscal stability. But they also say they will adhere to a strict budget policy and keep to European Union rules on budget deficits, which set a limit for the fiscal gap of three percent of output.

  • BAKU/ LONDON, Oct 11- Azerbaijan accused BP on Wednesday of making "false promises" on oil output and said the state had missed out on $8 billion of potential revenues from what is one of the company's biggest projects in the world.

  • BRUSSELS, Oct 11- Party leaders in the European Parliament have agreed to reject Luxembourg central banker Yves Mersch's candidacy for the European Central Bank's executive board on grounds of gender bias, a statement from one of the leaders said on Thursday.

  • LONDON, Oct 11- The cost of borrowing cash using Spanish government bonds as collateral was little changed on Thursday as the prospect of European Central Bank debt purchases offset the impact of a downgrade in Spain's rating.

  • Oil prices rose Thursday as tension between Turkey and Syria raised concerns that crude oil supplies from the Middle East could be disrupted. On Thursday, Turkey claimed that it forced a Syrian passenger plane to land because it was carrying banned cargo from Russia.

  • OSLO, Oct 11- Nordic power prices could rise as much as 10 percent by the end of the decade as a clutch of new power lines will allow producers to sell their electricity into higher priced markets in continental Europe and Britain.

  • * "Unique way of writing," Swedish Academy says. STOCKHOLM, Oct 11- Chinese writer Mo Yan won the 2012 Nobel prize for literature on Thursday for works which combine "hallucinatory realism" with folk tales, history and contemporary life in China.

  • NEW YORK, Oct 11- Brent crude held and U.S. crude futures pared gains in choppy trading on Thursday on a report from the U.S. Energy Information Administration showing crude inventories rose in the United States last week, after oil prices had been lifted earlier by heightened tensions between Turkey and Syria.

  • FRANKFURT, Oct 11- German financial holding company Porsche SE said it was being sued for 213 million euros in damages from HWO, a firm linked to the family of deceased German industrialist Adolf Merckle. "We consider this to be unfounded and we will defend ourselves," a spokesman for Porsche SE said on Thursday.

  • THE HAGUE, Oct 11- Four Nigerian villagers took Royal Dutch Shell to court on Thursday in a landmark pollution case that campaigners said could open the door to more compensation claims against international companies.

  • October 11- Following are terms and conditions. of a bond priced on Thursday.