Allister Heath, editor of CityAM and Paul Moore, founder of Assetz Capital, discuss the U.K. Banking Commission's report, whether it's "game-changing", and bankers' responsibilities.» Read More
Rating Action On Sept. 21, 2012, Standard& Poor's Ratings Services affirmed its' Api' counterparty credit and financial strength ratings on Farm Bureau Life Insurance Co. of MI. Based in Lansing, Mich., FBL of MI is an indirect subsidiary of Michigan Farm Bureau Group. Farm Bureau Life Insurance Co. of MI.
--We are placing our' BBB' long-term and' A-2' short-term ratings on Telefonica and three of its subsidiaries, and our issue ratings on Telefonica and six of its subsidiaries on CreditWatch negative.
LONDON, Oct 12- Peripheral banks unwilling or unable to lengthen their maturity profiles are building up a redemption hump which they will have to face just as billions of euros of cheap ECB money is coming up for repayment.
In France, workers at E.ON coal-fired plants were striking again on Friday, having started selected actions on Monday in a dispute over site closures and job losses. Monday baseload in France was up by 12.25 euros at 58.50 euros a megawatt hour.
LONDON, Oct 12- Asian spot prices of liquefied natural gas steadied this week amid early signs that potential supply disruption from Nigeria and Indonesia may offset weak Japanese demand.
LONDON-- Upbeat earnings from JP Morgan Chase& Co. and a strong U.S. consumer confidence survey helped shore up markets Friday, though investors remained cautious after buying up stocks aggressively the previous day.
NEW YORK, Oct 12- Demand for collateralized loan obligations remains robust as September saw managers price $6.7 billion of new vehicles, making it the busiest month for issuance in what is already the busiest year since 2007. Despite a thriving leveraged finance market and a similarly strong CLO market, spreads on recently raised AAA rated CLO tranches hover stubbornly above those printed last spring.
--U.S. river cruise operator Viking Cruises Ltd. plans to issue $250 million in senior notes. On Oct. 9, 2012, Standard& Poor's Ratings Services assigned Woodland Hills, Calif.- based river cruise operator Viking Cruises Ltd. its' B+' corporate credit rating.
Oct 12- Investment Property Databank:. *UK commercial property values fall 0.4 percent in September, versus -0.3. *UK commercial property total return 0.2 percent in September, unchanged from.
LONDON, Oct 12- Oil fell towards $115 a barrel on Friday, as a prediction of a further decline in oil consumption and higher supplies offset concerns about potential output disruptions in the Middle East.
Set up with noble goals after the devastation of World War II, the EU to critics now appears impotent amid a debt crisis that has widened north-south divisions, threatened the euro currency and plunged several members, from Greece to Ireland to Spain, into economic turmoil.
ZURICH, Oct 12- Apple, sensitive about protecting its own designs, has struck a deal to use Swiss railway operator SBB's trademark station clock design on iPads and iPhones.
MOSCOW, Oct 12- Russian private healthcare company MD Medical Group's London share listing made a smooth start on Friday, with the global depositary receipts trading at a 2 percent premium to their issue price of $12.
The European Centre for Disease Prevention and Control which monitors disease in the European Union, said the outbreak was "significant but not entirely unexpected" given that the most efficient carriers of the disease, mosquitoes known as Aedes aegypti, have an established presence in Madeira.
Shares of JPMorgan Chase and Wells Fargo& Co. both fell after their results, even though JPMorgan posted record profits. Wells Fargo dropped 4 percent to $33.77 while JPMorgan was off 1.8 percent at $41.33.
OSLO, Oct 12- Output from Statoil's Troll natural gas field offshore Norway has been reduced due to safety issues, gas system operator Gassco said on Friday, raising concern about supply safety after a string of outages.
NEW YORK, Oct 12- U.S. stocks were poised for modest gains at the open on Friday, in the wake of sterling results from JP Morgan and data showing inflation pressure remained in check. Investors remained concerned over the prospects for corporate profit growth, in light of the tepid economies in the U.S. and Europe.
LONDON, Oct 12- The UK arm of German utility RWE. on Friday became Britain's third energy supplier to raise power and gas prices from this winter, citing the cost of government schemes, transmission and higher wholesale prices. RWE npower customers will see electricity prices increase 9.1 percent and gas prices by 8.8 percent from Nov. 26.
LONDON, Oct 12- Environmental Recycling Technologies PLC:. *Reached agreement on terms of a debt restructuring and debt-for-equity. *Agreed to issue 225,241,928 new ordinary shares of 2.5 P each to third party.
LONDON, Oct 12- Frantic drilling activity across the United States has at last begun to moderate, as the industry responds to the plunge in prices for natural gas and now liquids such as butane and natural gasoline.