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  • WAfrica Crude-Chinese demand slump weighs Friday, 12 Oct 2012 | 1:29 PM ET

    GENEVA, Oct 12- West African crude oil differentials were assessed slightly lower on Friday as traders reported slow sales for the remaining November cargoes due partly to Chinese refinery outages.

  • TEXT-S&P raises Marsh & McLennan Cos rating to 'BBB' Friday, 12 Oct 2012 | 1:28 PM ET

    --New York- based Marsh& McLennan Cos. has reported material improvement in both its business and financial profiles in recent years. Rating Action On Oct. 12, 2012, Standard& Poor's Ratings Services raised its counterparty credit rating on Marsh& McLennan Cos. to' BBB' from' BBB-'.

  • Tusk said he would find billions of euros for investment in energy and other infrastructure projects, while at the same time keeping a tight rein on government borrowing in Poland, eastern Europe's largest economy. Poland has been a rare bright spot in Europe over the past few years, managing to sustain robust growth even while its neighbours slumped.

  • Somali pirates release Greek-owned ship for ransom Friday, 12 Oct 2012 | 1:21 PM ET

    MOGADISHU, Somalia-- A Liberian-flagged Greek-owned ship and its crew of 21 Filipinos who were held hostage by pirates for eight months have been released following the payment of a $2.3 million ransom, a Somali pirate said Friday.

  • MILAN, Oct 12- Italian Prime Minister Mario Monti said on Friday that any request by Spain for European Central Bank support to lower its borrowing costs would calm financial markets. If Spain seeks aid, "There are two lines of thought," Monti told foreign reporters in Milan. "

  • News Summary: Cyprus seeks concessions from labor Friday, 12 Oct 2012 | 1:15 PM ET

    HOSTILE NEGOTIATIONS: The president of Cyprus is trying to convince trade unions to rally behind tough austerity measures that the government wants to negotiate with potential creditors in return for a multibillion euro bailout loan to prop up the country's ailing banks and economy.

  • Poland's Ciech sells unit to BASF for 43 mln euros Friday, 12 Oct 2012 | 1:14 PM ET

    WARSAW, Oct 12- Poland's chemical group Ciech. agreed to sell part of its toluene diisocyanate business to Germany's BASF for 43 million euros, Ciech said late on Friday. Ciech expects to close the deal in the first quarter of 2013..

  • *Turkey- Syria tensions, lower N. Sea output support. The International Energy Agency's prediction of a further decline in oil consumption and higher supplies weighed on oil prices that have received support from slowed North Sea production and fears of potential supply disruptions from the Middle East.

  • WARSAW, Oct 12- The biggest shareholder in beleaguered Polish builder Polimex on Friday proposed watering down the management's plan to raise around 500 million zlotys, three days before the plan is to be voted on by shareholders.

  • BASF says to buy parts of Ciech's TDI business Friday, 12 Oct 2012 | 1:06 PM ET

    FRANKFURT, Oct 12- Germany's BASF, the world's largest chemicals maker, said it would be buying part of Ciech SA's global business in TDI, a key component used in furniture and automotive industries. Both parties agreed not to disclose financial details of the agreement, BASF said. Closing is expected in the first quarter of 2013..

  • TOKYO, Oct 13- British finance minister George Osborne on Saturday blamed an effective German veto for the failure of a $45 billion merger between British defence firm BAE.

  • TOKYO, Oct 13- Many Western economies are failing to face up to their responsibilities in the face of heavy economic headwinds, British finance minister George Osborne said on Saturday.

  • MILAN, Oct 12- Italian Prime Minister Mario Monti said on Friday that any request by Spain for European Union support to shore up its public accounts would calm financial markets.

  • France backs IMF's anti-austerity call -finmin Friday, 12 Oct 2012 | 11:57 AM ET

    PARIS, Oct 12- France supports the IMF's call to give indebted southern European countries more time to improve their finances, Finance Minister Pierre Moscovici told a newspaper on Friday, putting Paris at loggerheads with Berlin.

  • LONDON, Oct 12- Bosideng International Holdings, China's largest maker and distributor of down clothing, is eyeing store openings in Milan and New York if its first overseas venture in London proves a hit with the British capital's shoppers.

  • MOSCOW, Oct 12- TNK-BP will appoint its former head of power and gas to temporarily run the upstream division after the departure of Alexander Dodds, two sources close to the Anglo-Russian oil venture said on Friday.

  • By Sinead Cruise and Chris Vellacott. LONDON, Oct 12- A plan to allow British employers to give shares to workers who sign away employee rights could leave the same staff with soaring tax bills, experts warn.

  • *Turkey- Syria tensions, lower N. Sea output support. Brent and U.S. crude remained on track to post weekly gains of around 2 percent, as the turmoil in the Middle East, especially in Syria, continues to intensify.

  • FACTBOX-UK utilities' latest tariff changes Friday, 12 Oct 2012 | 11:50 AM ET

    LONDON, Oct 12- Britain's' Big Six' energy suppliers, which control 99 percent of the market, are expected to increase energy tariffs this winter following a rise in underlying wholesale prices, network costs and mandatory government schemes to reduce carbon emissions and help disadvantaged households.

  • STOCKS NEWS EUROPE-UK small caps close 0.3 pct higher Friday, 12 Oct 2012 | 11:48 AM ET

    The FTSE Small Caps index closes 0.3 percent higher, outperforming falls of 0.6 percent on the FTSE 100 and 0.5 percent on the FTSE 250. Morgan Sindall gains 1.3 percent as the UK construction and regeneration group says it has been appointed preferred delivery partner for a 1.1 billion pounds contract at the Sellafield nuclear reprocessing plant.