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  • Putin backs BP's sale plan for TNK-BP - FT Tuesday, 9 Oct 2012 | 9:28 PM ET

    LONDON, Oct 10- Russian president Vladimir Putin backs BP's plan to sell its 50 percent stake in TNK-BP. Sechin said, without giving a full direct quote, that President Putin endorsed the idea at a meeting in Russia last month with BP's top executives.

  • PRESS DIGEST - British business - Oct 10 Tuesday, 9 Oct 2012 | 8:29 PM ET

    The merger between BAE Systems and EADS was teetering on Tuesday as the chief executive of the British group flew into Toulouse ahead of an expected plea for more time to thrash out a deal. The Telegraph CAMERON: IT'S SINK OR SWIM FOR UK. BAE MEGA-MERGER HANGS IN BALANCE The mega-merger between BAE Systems and EADS.

  • Top US ag negotiator: Farm exports likely down $1B Tuesday, 9 Oct 2012 | 7:55 PM ET

    STUTTGART, Ark.-- The nation's top agricultural negotiator said Tuesday that he expects farm exports to be down between $1 billion and $2 billion this year because of the drought. He added that he doesn't believe a one-year dip would lead to a lasting slowdown in sales to Asia, where China is a major buyer of U.S. dairy and meat, or elsewhere.

  • LONDON, Oct 9- Russia aims to bring on line 1.4-2 million barrels of oil equivalent per day with new tax reforms designed to reduce the levy on future projects and codify ad-hoc discounts currently in force, Energy Minister Alexander Novak said on Tuesday. Tax holidays extended under the packages are expected to cover 50 fields in East Siberia.

  • BRUSSELS, Oct 9- NATO has plans in place to defend Turkey against attack from Syria, and will aim to provide assistance if Ankara asks for it, senior officials said on Tuesday. NATO ambassadors threw their support behind Turkey in an emergency meeting last week after Syrian shells struck a border town in Turkey killing five civilians.

  • *11 countries back financial transaction tax* Britain, Sweden, free-marketeers strongly oppose* Greek police battle protesters as Merkel visits Athens* French lawmakers endorse fiscal discipline treaty By John O'Donnell and Harry Papachristou.

  • Med Crude-Urals stronger in Baltic on arbitrage Tuesday, 9 Oct 2012 | 1:17 PM ET

    *Azeri Nov exports to rise, Iraq cuts OSP for Europe. In the Platts window, BP bid in the Baltic for an Oct 22-26 Urals cargo at dated Brent minus $1.30 a barrel, some 30 cents stronger than on Monday, and Exxon bid for an Oct 20-24 cargo at dated Brent minus $1.35, traders said.

  • Prince, Kate help open English soccer's new home Tuesday, 9 Oct 2012 | 11:51 AM ET

    Thirty-seven years in the making, the $160 million national soccer center at Burton-upon-Trent in central England will be the permanent home for all 24 of England's senior and junior teams and the training base for aspiring coaches.

  • IOC panel in Sochi for check on 2014 preparations Tuesday, 9 Oct 2012 | 11:50 AM ET

    SOCHI, Russia-- With the opening of the 2014 Winter Olympics less than 500 days away, IOC officials are back in Russia to check on preparations in Sochi. The IOC coordination commission began a three-day visit to the Black Sea resort Tuesday to inspect progress in construction, transportation, accommodation and other key areas.

  • By Agnieszka Barteczko and Maciej Onoszko. WARSAW, Oct 9- Would-be investors in ZE PAK, eyeing jittery financial markets and the Polish utility's ageing plants, are likely to drive a hard bargain in a flotation which may not achieve a market value much above 1.5 billion zlotys.

  • UPDATE 2-TNK-BP oligarchs try to dodge Rosneft Tuesday, 9 Oct 2012 | 11:05 AM ET

    By Andrew Callus and Douglas Busvine. LONDON/ MOSCOW, Oct 9- The billionaires who co-own Russian oil venture TNK-BP and want to buy out partner BP have told the British company they would rather sell their half of the $50 billion business than end up in a devalued partnership with state-backed rival bidder Rosneft.

  • EU fin mins blocked on thorny banking union Tuesday, 9 Oct 2012 | 11:02 AM ET

    LUXEMBOURG-- Europe made little progress Tuesday in its efforts to secure the region's stricken financial system and ensure that failing banks never risk an entire country's economy again when finance ministers from the 27- country European Union failed to agree on how a single banking supervisor should be set up.

  • UPDATE 1-Russian assets buoyed by oil rally Tuesday, 9 Oct 2012 | 10:50 AM ET

    MOSCOW, Oct 9- Russian equities turned positive on Tuesday, supported by an upturn in oil prices, while telecoms stocks edged higher following a $2 billion IPO announcement by mobile operator Megafon.

  • Rosneft says discusses trading issues with Gunvor Tuesday, 9 Oct 2012 | 10:40 AM ET

    MOSCOW, Oct 9- Russia's top crude producer Rosneft said on Tuesday its powerful chief executive Igor Sechin met the co-owners of international oil trading house Gunvor to discuss "trading issues", amid reports of a rift between Sechin and Gunvor's co-owner Gennady Timchenko.

  • TEXT-Fitch rates Russian Railways' notes 'BBB' Tuesday, 9 Oct 2012 | 10:27 AM ET

    Oct 9- Fitch Ratings has assigned RZD Capital Limited's 8.30% RUB loan participation notes due 2019 and 5.70% USD LPNs due 2022 senior unsecured' BBB' ratings. The new LPNs are to be consolidated and form a single series with the outstanding RUB25bn 8.30% LPNs due 2019 and USD1bn 5.70% LPNs due 2022 respectively.

  • *UK, Sweden, free-marketeers strongly opposed. The initiative, pushed hard by Germany and France but strongly opposed by Britain, Sweden and other free-marketeers, gained critical mass at a European Union finance ministers' meeting in Luxembourg, when more than the required nine states agreed to use a treaty provision to launch the tax.

  • Electricity for Wednesday delivery in the Czech Republic, Slovakia and Hungary gained nearly 12 percent to 51.77 euros per megawatt hour on regional exchanges. Since then Hungary has helped to narrow- and often erase- the typical Czech and Slovak discount to Germany.

  • CEE MARKETS 3-Serbia's dinar rises after rate hike Tuesday, 9 Oct 2012 | 10:09 AM ET

    *Serbia's c.bank raises benchmark rate 25 bps to 10.75 pct. BUDAPEST/ BUCHAREST, Oct 9- Emerging European currencies and stocks were a touch lower on Tuesday after the IMF cut forecasts for global economic growth, but Serbia's dinar bucked the trend after an interest rate hike.

  • TEXT-S&P raises BANK ROSSIYA's ratings to 'BB-/ruAA-' Tuesday, 9 Oct 2012 | 10:09 AM ET

    Rating Action On Oct. 9, 2012, Standard& Poor's Ratings Services raised its long-term issuer credit rating on BANK ROSSIYA to' BB-' from' B+' and affirmed its short-term rating at' B'. We also raised the Russia national scale rating on BANK ROSSIYA to' ruAA-' from' ruA'.

  • Poland, which hopes tapping into previously inaccessible shale gas reserves will reduce its reliance on costly gas supplies from Russia, has postponed the publication of the law several times in the past few months.