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  • Germany's Lufthansa to sell IT division to IBM Wednesday, 22 Oct 2014 | 4:18 AM ET

    BERLIN— Germany's biggest airline, Lufthansa, says it plans to sell its information technology infrastructure division to IBM as part of a deal aimed at reducing the company's IT costs. Lufthansa said Wednesday that it expects to cut costs by about 70 million euros per year under the proposed deal, which will see the airline outsource all its IT infrastructure...

  • DIARY -Top Economic Events to Nov 3 Tuesday, 21 Oct 2014 | 8:01 PM ET

    WASHINGTON- Federal Reserve Board holds open meeting to discuss a final rulemaking requiring sponsors of securitization transactions to retain risk in those transactions- 1930 GMT. LONDON- Bank of England publishes minutes of latest Monetary Policy Committee meeting. OTTAWA- Bank of Canada Governor Stephen Poloz and Senior Deputy Governor Carolyn...

  • FRANKFURT, Oct 21- Daimler AG said on Tuesday it would book a $780 million windfall from selling its 4 percent stake in rival electric car maker Tesla Motors Inc. The stake sale comes as a surprise, even though the Stuttgart- based maker of Mercedes-Benz cars insisted that a technological cooperation deal between the two carmakers remains unchanged.

  • Oct 21- Airbus Group NV said on Tuesday that it has begun offering airlines a long-range version of its A321neo jetliner, aimed at replacing Boeing Co's 757 jetliner, a long-range single-aisle jet that is no longer in production. "The long-range version of the A321neo will be the ideal 757 replacement with true transatlantic range, 25 percent lower fuel burn and...

  • FRANKFURT, Oct 21- Smartphone users won't recognise the name B2X, but if your battery dies or your screen breaks, the odds are that the company will be working behind the scenes when you seek a repair. "B2X is doing a nice job of stitching together what are all the very disparate processes that go into the aftermarket for mobile phone repair," said Michael Dominy,...

  • *Work on buying corporate bonds well under way- sources. *Governing Council may discuss such purchases in Dec. FRANKFURT, Oct 21- The European Central Bank is considering buying corporate bonds on the secondary market and may decide on the matter as soon as December with a view to begin purchases early next year, several sources familiar with the situation told...

  • By Peter Maushagen and Victoria Bryan. FRANKFURT/ BERLIN, Oct 21- Lufthansa pilots threatened to call further strikes this week after the latest stoppage in a dispute over retirement benefits grounded two-thirds of its flights on Tuesday. At Frankfurt airport, Lufthansa's main hub and Europe's third largest airport, queues snaked back from check-in desks, and...

  • WHO: Ebola vaccine trials in W. Africa in January Tuesday, 21 Oct 2014 | 7:19 AM ET

    GENEVA— Tens of thousands of doses of experimental Ebola vaccines could be available for "real-world" testing in West Africa as soon as January as long as they are deemed safe, a top World Health Organization official said Tuesday. The Ebola outbreak in West Africa has already killed over 4,500 people, mostly in Liberia, Guinea and Sierra Leone, since it emerged 10...

  • Court rejects Lufthansa bid to block strike Tuesday, 21 Oct 2014 | 5:57 AM ET

    BERLIN— A German court has rejected a bid by Lufthansa to force a union representing the company's pilots to call off a strike, the latest in a string of walkouts over retirement benefits. The state labor court in Hesse, which includes Lufthansa's main Frankfurt hub, said Tuesday it rejected the airline's suit and found no grounds to declare the strike illegal.

  • ASOS annual profit falls 14% on strong pound Tuesday, 21 Oct 2014 | 2:20 AM ET

    British online fashion retailer ASOS posted a 14 percent fall in annual profit after the strength of sterling hit sales growth.

  • *Berlin, Paris to present joint paper Dec. 1. BERLIN, Oct 20- Germany and France sought to paper over deep differences about how to bolster a faltering European economy, promising on Monday to unveil joint proposals on strengthening investment and competitiveness by early December. They committed themselves to a Dec. 1 deadline but it was not clear the two...

  • *Munich Re, Hannover Re see stable German premiums. BADEN-BADEN, Germany, Oct 20- Germany's Munich Re and Hannover Re expect stable reinsurance prices in their home market next year, cushioning the blow from a slide in prices on world markets. "I see no reason why reinsurance prices should fall," Munich Re board member Ludger Arnoldussen told a news conference in the...

  • *Ukraine struggles to secure funds for Russian gas payment. Movement on the gas row was the only sign of progress at talks between Vladimir Putin and Petro Poroshenko on Friday which failed to resolve differences over fighting in eastern Ukraine and a deep crisis in relations. After European Energy Commissioner Guenther Oettinger met Ukrainian officials in...

  • BERLIN, Oct 20- Germany and France agreed on Monday to work towards a deal to boost investment and accelerate economic reforms to revive a stagnating euro zone economy, their finance ministers said. German Finance Minister Wolfgang Schaeuble, who has opposed any big public investment drive, said Paris and Berlin would put forward a joint paper in early December...

  • *Ukraine struggles to secure funds for Russian gas payment. Movement on the gas row was the only sign of progress at talks between Vladimir Putin and Petro Poroshenko on Friday which failed to resolve differences over fighting in eastern Ukraine and a deep crisis in relations. European Energy Commissioner Guenther Oettinger, who will mediate Tuesday's...

  • UPDATE 4-Oil slips below $86 on global oversupply Monday, 20 Oct 2014 | 7:58 AM ET

    *OPEC ministers due to meet in Vienna on Nov. 27. Abundant global oil supplies, particularly of very high quality, light oil, coupled with a gloomy economic outlook from Europe to China pushed Brent last week below $83, to its lowest since 2010. Oil prices are down more than 25 percent since June. Saudi Arabia, Kuwait and Iran have all indicated reluctance to change...

  • *Sees 5.6- 5.8 billion euro operating profit in 2014. FRANKFURT, Oct 20- German software maker SAP cut its 2014 operating profit forecast on Monday as customers shifted faster than expected to products delivered over the Internet, delaying when those orders can be booked as sales. SAP said it now expects 2014 operating profit, excluding some special items, of 5.6...

  • FRANKFURT/ PARIS, Oct 20- The European Central Bank has started buying covered bonds, an ECB spokesman said on Monday, opening a new front in its battle to revive the euro zone economy and keep deflation at bay. Shares in euro zone banks outperformed, with Banco Santander up 0.9 percent, Societe Generale up 0.8 percent and UniCredit up 1.6 percent.

  • European Central Bank starts stimulus purchases Monday, 20 Oct 2014 | 7:10 AM ET

    FRANKFURT, Germany— The European Central Bank has started buying securities called covered bonds as it launches its latest stimulus effort aimed at preventing the 18- country eurozone economy from sinking back into recession. An ECB spokeswoman confirmed the purchases began Monday. Covered bonds are investments backed by loans such as mortgages.

  • EU seeks $1.27 billion in Ebola aid for W. Africa Monday, 20 Oct 2014 | 5:55 AM ET

    LUXEMBOURG— The European Union committed itself Monday to step up efforts toward getting 1 billion euros in aid to fight Ebola in West Africa and rejected the idea of halting direct flights coming from the region. So far, the overall anti-Ebola total for the EU, including EU national contributions, stands at 500 million euros, with Britain contributing 160...