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  • German train drivers vote for strikes Thursday, 2 Oct 2014 | 11:03 AM ET

    BERLIN— A union representing train drivers at Germany's national railway says its members have voted overwhelmingly to strike over a pay dispute. According to news agency dpa, GDL union spokeswoman Gerda Seibert said Thursday that 91 percent of members voted in favor of strike action in a ballot. No date was immediately set for walkouts though union leader...

  • UPDATE 2-Allianz CEO Diekmann to step aside in May Thursday, 2 Oct 2014 | 11:02 AM ET

    FRANKFURT, Oct 2- Allianz will replace its chief executive earlier than expected, promoting insider Oliver Baete from May as the insurer seeks to restore order at Pimco, its U.S. funds business beset by investor and executive defections. Baete, 49, had been seen as front runner for the job, and is currently serving as Allianz's board member for insurance...

  • Air industry battles Ebola with heat scans and handwash Thursday, 2 Oct 2014 | 10:58 AM ET

    BERLIN, Oct 2- Airlines and airports handling travel to countries worst hit by the Ebola epidemic are trying to prove that flying to West Africa is safe, following concerns that the first case diagnosed in the United States could curtail worldwide services. Some airlines have already suspended or cut back flights since the summer, and only one European carrier...

  • Slovakia: gas from Russia still down 50 percent Thursday, 2 Oct 2014 | 10:55 AM ET

    BRATISLAVA, Slovakia— Slovakia says its gas supplies from Russia are down 50 percent for a second day. Slovakia, which is almost entirely dependent on Russian gas, was among the nations hit hardest by Russia's 2009 cutoff of gas travelling through Ukraine to Europe. Slovakia also continues to deliver gas to Ukraine, Fico said Thursday.

  • *Cost forms part of 300 mln stg budgeted for 2014-15. LONDON, Oct 2- British grocer Morrisons will launch its first customer loyalty card on Friday, opening up a new front in an escalating price war with a scheme that guarantees to match discounters Aldi and Lidl as well as traditional rivals. The initiative, announced by Morrisons on Thursday, comes a day after "big...

  • *Europe stocks slump after ECB disappoints. *Wall Street edges lower after global sell-off. Wall Street opened slightly lower after a sharp sell-off the previous session but it was Europe that remained under fire, with stocks tumbling anew after the European Central Bank's monthly meeting left markets feeling unsatisfied.

  • LONDON, Oct 2- European equities extended losses late on Thursday, with a benchmark index hitting a six-week low after the European Central Bank gave less details about its plan to buy secured debt than the market had expected. The planned moves are an attempt to kick start a languishing euro zone economy, despite misgivings in Germany and elsewhere, after...

  • *No EU concerns about Eli Lilly, Novartis deal. In contrast, U.S. drugmaker Eli Lilly's proposed $5.4 billion takeover of Swiss peer Novartis's animal health business triggered no such worries and will be cleared unconditionally, the sources said. Eli Lilly is buying the Novartis unit to strengthen and diversify its Elanco unit.

  • Greek police destroy suspected bomb sent to bourse Thursday, 2 Oct 2014 | 10:29 AM ET

    ATHENS, Greece— Greek police have destroyed a suspicious parcel sent to the Athens Stock Exchange that was stopped at the mailroom and did not disrupt trading. Police said the parcel sent to the stock exchange contained gunpowder and batteries, but it was unclear whether it was fully rigged to explode. A police statement says the anti-terrorism squad is...

  • European car chiefs 'reeling' from Ford warning Thursday, 2 Oct 2014 | 10:09 AM ET

    PARIS— Fiat-Chrysler CEO Sergio Marchionne says fellow car bosses "are still reeling" from the profit warning that rival Ford announced on the eve of the biennial gathering in Paris. Marchionne says that while he's "incredibly hopeful" that Russia's collapsing car market "will sort itself out," he doesn't expect a return to normal market conditions there until...

  • LONDON, Oct 2- Energy-rich Kazakhstan, gearing up for its first Eurobond in over a decade, is seeing its appeal dimmed by falling oil prices and the crisis in nearby Russia, potentially forcing it to give investors a slightly higher yield premium than expected. Fund managers, some of whom attended the presentation in London, said Kazakhstan was keen on a...

  • German insurer Allianz appoints new CEO Thursday, 2 Oct 2014 | 9:43 AM ET

    BERLIN— German insurer Allianz SE says board member Oliver Baete will take over as chief executive in May when current CEO Michael Diekmann steps down after more than a decade in charge. Allianz said Thursday that its supervisory board accepted Diekmann's request not to remain as CEO beyond the company's standard age limit of 60. Diekmann has been in charge...

  • *Interest rates on hold at record lows. NAPLES, Italy, Oct 2- The European Central Bank will buy bundles of loans and other forms of secured debt from mid-month in an attempt to kick start a languishing euro zone economy, despite misgivings in Germany and elsewhere. President Mario Draghi said the ECB would begin to buy covered bonds, a form of secured debt, from banks...

  • NAPLES, Italy, Oct 2- European Central Bank President Mario Draghi said on Thursday it was quite understandable that Euroscepticism was growing in the European Union given that the economy was weak. At a news conference in Italy after the ECB had held rates steady, Draghi said: "It's very understandable that people are Eurosceptical because things are not going...

  • NEW YORK, Oct 2- U.S. Treasuries posted their best day since last September 2013 on Wednesday as U.S. bond yields were dragged down by rallying German government debt, weak manufacturing data in Europe and Asia and concerns over how quickly the Ebola virus may spread. "Yesterday there was pretty strong short covering, a lot of people want to be short going into...

  • MOSCOW, Oct 2- President Vladimir Putin dismissed Western sanctions as "utter foolishness" on Thursday and said they would not stop Russia developing into a stronger economic power. Addressing financiers worried about the weakening economy, capital flight and a possible increase in state intervention, he said Russia was well placed to weather the storm.

  • BoE asks government for more powers over housing Thursday, 2 Oct 2014 | 8:35 AM ET

    The Bank of England gave a clean bill of health to Britain's controversial flagship mortgage guarantee scheme on Thursday.

  • UPDATE 1-Maserati sees sales topping 35,000 this year Thursday, 2 Oct 2014 | 8:24 AM ET

    PARIS, Oct 2- Maserati expects to sell more than 35,000 cars this year and reach its 50,000 sales target in 2015, subject to the availability of a new sport utility vehicle to be launched late next year, the head of the brand said on Thursday. "For the end of the year we will be significantly beyond 35,000, but not beyond 40,000," Harald Wester told Reuters in an...

  • Angry Birds maker Rovio to cut jobs Thursday, 2 Oct 2014 | 8:23 AM ET

    HELSINKI— Mobile game developer Rovio Entertainment Ltd. says it plans to cut some 16 percent of its workforce amid signs that its Angry Birds game is losing some of its luster. CEO Mikael Hed said Thursday in a statement that Rovio expects to cut up to 130 jobs in Finland as the company had been building its team on assumptions of "faster growth than have...

  • LONDON, Oct 2- The euro retained its small gains against the dollar on Thursday but remained near a two-year low after the European Central Bank kept interest rates unchanged at historic lows as expected. Investors are now awaiting a news conference at 1230 GMT at which the bank's President Mario Draghi is expected to give further details of the ECB's plan to buy...