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  • Russia, Ukraine looking for gas deliveries deal Wednesday, 29 Oct 2014 | 11:27 AM ET

    BRUSSELS— Talks between Ukraine and Russia to guarantee that Russian gas will continue to flow to Ukraine and parts of the EU this winter dragged on into the night Wednesday, the European Union said. After inconclusive talks last week, the negotiations between the energy chiefs of the two nations were seen as a last-ditch attempt to stave off another crisis that...

  • *OPEC fine for 2014 with average prices, sec gen says. *OPEC must be ready to pump 40 mln bpd by 2040. Oil's drop below the $100- mark, the level many OPEC members had endorsed, has raised the question of whether OPEC will cut supply when it meets in November.

  • Hedge funds muscle into reinsurance, attracting doubters Wednesday, 29 Oct 2014 | 8:59 AM ET

    LONDON, Oct 29- Hedge funds are muscling their way into the market to share the cost of cleaning up after natural catastrophes, but sceptics are questioning whether they will stick around ahead of the next "big one" as underwriting returns fall. John Rathgeber, CEO of Watford Re which opened its doors this year, said his group used leverage and invested in assets such...

  • MOSCOW, Oct 29- Russian natural gas producer Gazprom said on Wednesday it had failed to reach a deal at talks with the European Commission on the Opal gas pipeline and wants new negotiations. The European Union executive had delayed until at least the end of this month a decision on whether to allow Russia greater access to the pipeline in northeastern Germany.

  • UPDATE 1-Behind the scenes of Sanofi's boardroom bust up Wednesday, 29 Oct 2014 | 8:25 AM ET

    PARIS, Oct 29- A boardroom tussle brewing for months at Sanofi came to a head on Wednesday when France's top drugmaker fired its chief executive, wiping more billions off its share price. While the showdown played out in leaks to national newspapers has stunned investors as a "how not to do it" guide to corporate governance, the writing was on the wall in the...

  • *Investors hope for soothing Fed message. LONDON, Oct 29- World stocks rose on Wednesday, lifted by corporate earnings and expectations that the U.S. Euro zone banking stocks were down almost 2 percent, dragged lower by Germany's biggest lender Deutsche Bank which announced a third-quarter net loss on heavy legal costs.

  • *Fugro tumbles 22 pct after cancelling payout. LONDON, Oct 29- European stocks held on to small gains on Wednesday despite disappointing results from Dutch marine services group Fugro, among other firms, partly offsetting optimism ahead of a U.S. Fugro sank 22 percent after it warned that it will not pay a dividend for 2014 due to deteriorating markets and price...

  • PARIS, Oct 29- French oil company Total's new chief will visit oil-rich countries to cement links with their leaders after the sudden death of his predecessor and will go ahead with cost cuts after falling oil prices squeezed third-quarter profits. Europe's second-largest oil company elevated former refining head Patrick Pouyanne to the top post following...

  • German exports to Russia fall sharply in August Wednesday, 29 Oct 2014 | 7:10 AM ET

    BERLIN— German exports to Russia dropped by more than a quarter in August over the same month a year ago as sanctions over Ukraine took an increasing toll. The Federal Statistical Office said Wednesday that German exports to Russia dropped 26.3 percent in August to 2.3 billion euros. Over the first eight months of 2014, exports to Russia fell 16.6 percent to 20.3...

  • BEIJING, Oct 29- China needs to loosen capital controls and develop offshore yuan markets to help encourage yuan holding and bolster its drive to internationlise the currency, a senior executive at Bank of China, said on Wednesday. About 15 percent China's trade was settled in yuan in the first nine months of 2014, up from less than 1 percent in 2009, when...

  • BRUSSELS, Oct 29- Ukraine and Russia begin new gas crisis talks on Wednesday, but wrangling over Ukraine's upfront cash payments threatens to push a deal out of reach, even as temperatures have fallen below zero in Kiev. Russian state utility Gazprom halted supplies to Kiev in June because of Ukraine's unpaid gas bill, which Moscow says is around $4.5 billion.

  • *OPEC fine for 2014 with average prices, sec gen says. LONDON, Oct 29- There is no need to panic at the recent collapse in oil prices because market fundamentals have not changed much, OPEC's secretary general said on Wednesday. OPEC is reviewing the situation, "OPEC Secretary General Abdullah al-Badri said in London, where he was attending the Oil& Money conference, an...

  • UPDATE 1-German exports to Russia plunge in August Wednesday, 29 Oct 2014 | 6:13 AM ET

    BERLIN, Oct 29- German exports to Russia fell by more than 26 percent on the year in August, the sharpest fall since the financial crisis in 2009, according to data released on Wednesday which underlines the impact of Russia sanctions on Europe's biggest economy. Germany is Russia's biggest trading partner in the European Union but its exports to Russia already...

  • UPDATE 4-French drugmaker Sanofi sacks CEO Viehbacher Wednesday, 29 Oct 2014 | 5:42 AM ET

    *Sanofi board says not changing company's strategy. PARIS, Oct 29- Sanofi's board ousted its chief executive of six years at a special meeting on Wednesday, two days after it emerged he had fallen out with the French drugmaker's chairman, wiping more billions off its market value. The board said Sanofi would continue the strategy of international expansion...

  • European shares inch higher; Sanofi drops again Wednesday, 29 Oct 2014 | 5:20 AM ET

    *Fugro tumbles 21 pct after saying it won't pay dividend. PARIS, Oct 29- European stocks inched higher early on Wednesday, tracking sharp gains on Wall Street ahead of a U.S. France's Schneider Electric rose 3.1 percent after reporting a 7 percent rise in third-quarter sales and saying Western Europe showed long-awaited but fragile signs of stabilisation.

  • Europe's main indices followed the overnight lead from Wall Street and Asia, although the third-quarter earnings reports out of Europe weren't quite as solid as those from the United States. Germany's DAX was up almost 1 percent in early trade, Britain's FTSE was up half a percent, and France's CAC 40 up a third of one percent. MSCI's broadest index of...

  • UPDATE 3-Sanofi board ousts CEO Viehbacher Wednesday, 29 Oct 2014 | 4:49 AM ET

    *Sanofi board says not changing company's strategy. PARIS, Oct 29- Sanofi's board ousted its chief executive of six years at a special meeting on Wednesday, two days after it emerged he had fallen out with the French drugmaker's chairman, wiping more billions off its market value. The board said Sanofi would continue the strategy of international expansion it had...

  • Sanofi ousts CEO over management style, sales drop Wednesday, 29 Oct 2014 | 4:37 AM ET

    PARIS— French drugmaker Sanofi sacked its CEO Wednesday following a board room rift over his way of handling one of France's largest publicly traded companies. Christopher Viehbacher, the first non-Frenchman to lead Sanofi, was dismissed after six years running the company that traces its roots to the early 19th century. He orchestrated the $20 billion...

  • Food trucks arrive in food-crazy Belgium Wednesday, 29 Oct 2014 | 4:26 AM ET

    Belgium takes its food seriously— and adventurously— so when the American-style food trucks rolled in, there was little doubt the result would be a bit different. At a recent food truck festival in the port city of Antwerp, young entrepreneurs cooked up a multi-ethnic storm. The wafting aroma of everything from Indonesian satays to BBQ pork and stone-oven pizza...

  • UPDATE 2-Sanofi board meets, report says CEO to be ousted Wednesday, 29 Oct 2014 | 3:52 AM ET

    *Sanofi shares fell over 10 pct on Tuesday. PARIS, Oct 29- Sanofi's board was on the verge of ousting its CEO at a special board meeting on Wednesday, according to Le Monde newspaper, two days after it emerged he had fallen out with the French drugmaker's chairman. Several sources close to Sanofi's board told Reuters of an increasingly frosty relationship between...