United Kingdom


  • *Mozambique bets on India's growing demand for coal. LONDON, July 30- Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending its ill-fated venture in Mozambique's coal sector.

  • *European shares slip as Total hurt by Russia. LONDON, July 30- The euro hit an eight-month trough against the dollar on Wednesday and German bond yields were near record lows ahead of inflation data expected to boost the case for further policy easing by the European Central Bank.

  • BUENOS AIRES, July 30- Argentina faced a race against on time on Wednesday to avert its second default in 12 years, needing either to cut a deal by the end of the day with "holdout" investors suing it or to win more time from a U.S. court to reach a settlement.

  • Britain to test driverless cars next year Wednesday, 30 Jul 2014 | 6:57 AM ET

    LONDON— British officials says driverless cars will be tested on roads in as many as three cities in a trial program to begin in January. Transport Minister Claire Perry said driverless cars could transform Britain's road network and improve safety and traffic flow while reducing carbon emissions.

  • MOSCOW, July 30- Russian assets rallied on Wednesday, shrugging off a new round of Western economic sanctions on Moscow as investors deemed the punitive measures less severe than first feared and analysts said their impact was already priced in.

  • LONDON, July 30- Bankers who break rules on their conduct may have to hand back bonuses up to seven years after being awarded them, the Bank of England said on Wednesday as it unveiled some of the world's toughest curbs on the sector.

  • PARIS, July 30- PSA Peugeot Citroen reported a surprise surge in first-half cash flow and the first auto-division profit in three years, sending the French carmaker's shares soaring as its turnaround plan began to show results.

  • *Has said he will fight if Russia resists paying $50 bln claim. MOSCOW/ TEL AVIV, July 29- Former Yukos executive and top shareholder Leonid Nevzlin will face an uphill struggle getting any of the money he lost when the Russian oil giant was seized and nationalised after falling foul of the Kremlin.

  • *Says impact of Russia sanctions on Yamal LNG uncertain. PARIS, July 30- French oil major Total stopped buying shares in Russia's Novatek when a Malaysian airliner was shot down over Ukraine, but it is still too early to gauge the impact of western sanctions against Russia, Total said.

  • KIEV, July 30- Ukraine's economy contracted by 4.7 percent year-on-year in the second quarter in a sign of the impact of fighting in the east of the country. Kiev had initially expected a 3- percent fall year-on-year in the whole of 2014 but the conflict has put additional strains on the state budget and deepened Ukraine's recession.

  • MOSCOW, July 30- VTB, Russia's second-largest bank by assets, called sanctions imposed by the United States "politically motivated" and "unjust" on Wednesday but said it was confident it could raise capital if needed.

  • *European shares slip as Total hurt by Russia. LONDON, July 30- The euro hit an eight-month trough against the dollar on Wednesday and German bond yields were at record lows ahead of inflation data expected to boost the case for further European Central Bank policy easing.

  • UPDATE 3-Brent steady around $108 in range-bound market Wednesday, 30 Jul 2014 | 4:40 AM ET

    *U.S., EU impose more sanctions on Russia over Ukraine. *Libya says oil output stays at 500,000 bpd despite unrest. The European Union and the United States imposed further sanctions against Russia on Tuesday, targeting its energy banking and defense sectors in the strongest international action yet over Moscow's support for rebels in Ukraine.

  • FOREX-Euro slides below $1.34, eyes on Fed and U.S. GDP Wednesday, 30 Jul 2014 | 4:32 AM ET

    LONDON, July 30- The euro fell below $1.34 on Wednesday for the first time since last November before German inflation data that was likely to add to the case for the European Central Bank pumping more money into a moribund economy.

  • Barclays chief applauds claw-back idea on bonuses Wednesday, 30 Jul 2014 | 4:24 AM ET

    LONDON— The CEO of Barclays said having provisions to claw back bankers' bonuses, as outlined by regulators on Wednesday, is a good idea in principle. Antony Jenkins told the BBC that such provisions are useful, though he was awaiting the details. Jenkins has made corporate responsibility a key pillar of his tenure at Barclays, Britain's second-biggest bank.

  • *H1 EPS 101.8 pence vs forecast 102 pence. LONDON, July 30- British American Tobacco reported lower revenue and profit for the six months ended June 30, hurt by the strong British pound and a slight decline in volume.

  • Bank scandal tarnishes powerful Portuguese family Wednesday, 30 Jul 2014 | 4:11 AM ET

    The scandal bears the hallmarks of the recent European financial crisis, and the difficulties at Banco Espirito Santo— for years Portugal's largest private bank— sent a shiver through global markets this month as investors feared Europe's closet contained more skeletons. Banco Espirito Santo's sudden difficulties turned out not to be systemic, however.

  • Sanctions will damage Russia if not lifted quickly Wednesday, 30 Jul 2014 | 3:49 AM ET

    MOSCOW— U.S. and European sanctions against Russia's energy and finance sectors are strong enough to cause deep, long-lasting damage within months unless Moscow persuades the West to repeal them by withdrawing support for Ukrainian insurgents.

  • HONG KONG, July 30- China's institutional investment in property overseas rose 17 percent in the first six months of this year, with residential investment surging 84 percent, real estate services firm Jones Lang LaSalle said on Wednesday. San Francisco and Chicago followed with $548 million and $365 million, respectively.

  • UPDATE 1-Antofagasta posts higher quarterly copper output Wednesday, 30 Jul 2014 | 2:47 AM ET

    LONDON, July 30- Chilean miner Antofagasta posted a 5 percent quarter-on-quarter increase in its second-quarter copper output, slightly ahead of forecast, as it ramped up production after maintenance dented its first-quarter output.