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  • Med Crude-Urals stable, further strength seen Wednesday, 10 Oct 2012 | 11:51 AM ET

    LONDON, Oct 10- Russian Urals crude was stable on Wednesday with traders anticipating a further price spike in the next few days due to poor cargo availability and good demand from refiners. He predicted that activity would remain thin until Russia publishes early loading programmes for November within the next 5-10 days.

  • LONDON, Oct 10- Global household wealth will grow by nearly 50 percent in the next five years to $330 trillion, with the Chinese overtaking the Japanese as the world's second richest people, Credit Suisse said in a report on Wednesday.

  • Sanofi to spare Toulouse in restructuring - minister Wednesday, 10 Oct 2012 | 11:48 AM ET

    PARIS, Oct 10- French drug maker Sanofi has dropped plans to exit its research laboratory in the southern town of Toulouse as part of a reorganisation of its French research operations, Industry Minister Arnaud Montebourg said on Wednesday.

  • STOCKS NEWS EUROPE-UK small caps close off 0.2 percent Wednesday, 10 Oct 2012 | 11:47 AM ET

    The FTSE Small Cap index closes 0.2 percent lower, while the blue chips shed 0.6 percent, and the mid caps lose 0.7 percent. Oxford BioMedica falls 6.9 percent as the firm says it is closing a mid-stage clinical trial of its cancer vaccine TroVax in U.S. patients with prostate cancer, dealing a further blow to the troubled product.

  • Conservative lending rules and red tape have long been blamed for holding back development of the mortgage sector in Egypt. Mortgage lending is equivalent to less than half a percent of gross domestic product in Egypt, compared to 13 percent in Morocco, according to a 2011 report on Africa housing by FinMark Trust, a body mainly funded by British government aid.

  • UPDATE 1-BayernLB launches sale of 33,000 flats Wednesday, 10 Oct 2012 | 11:42 AM ET

    By Peter Dinkloh and Christian Kraemer. MUNICH, Oct 10- German public sector lender BayernLB will start the sale of 33,000 flats in the next few days, its Chief Executive said, in a deal that could easily top this year's biggest real estate transaction in Germany.

  • Franco-Swiss drug, money laundering ring broken up Wednesday, 10 Oct 2012 | 11:39 AM ET

    PARIS-- French and Swiss prosecutors say they've dismantled a major drug trafficking and money laundering network, arresting 20 people on Wednesday, including employees of a finance company and major international bank.

  • MOSCOW, Oct 10- Russian shares fell on Wednesday, underperforming emerging market peers, while the rouble was stronger, supported by higher oil prices and an auction for rouble-denominated treasury bonds. "There are almost no new money inflows," said Vadim Feldblyum, a senior client manager at BCS.

  • LONDON, Oct 10- Amerisur Resources PLC:. *Placing to raise approximately US $40 million. *To use funds to accelerate growth profile& access new opportunities within.

  • By Karolina Slowikowska and Sandor Peto. WARSAW/ BUDAPEST, Oct 10- Hungarian and Polish government bonds firmed on Wednesday as central bankers indicated further interest rate cuts to help their economies hit by Europe's economic slowdown.

  • London, Oct 10- Output at a fluid catalytic cracker at Royal Dutch Shell's Pernis refinery in the Netherlands has returned to normal after flaring forced it to reduce production, the DCMR said on Wednesday.

  • European shares hit by weak earnings outlook Wednesday, 10 Oct 2012 | 11:36 AM ET

    LONDON, Oct 10- European shares fell for a third straight session on Wednesday, dragged lower by expectations of weak corporate earnings in the region after a subdued start to the U.S. reporting season. It added to investor concerns after U.S. bellwether aluminium maker Alcoa. cut its demand forecasts and oil major Chevron Corp issued a profit warning.

  • UPDATE 6-EADS, BAE call off world's biggest arms merger Wednesday, 10 Oct 2012 | 11:30 AM ET

    *Sources said Germany opposed the $45 billion aerospace merger. *BAE shares down 1.14 per cent, EADS up 4.44 per cent By Sophie Sassard, Jason Neely and Kate Holton. LONDON, Oct 10- EADS and BAE Systems called off the world's largest defence and aviation merger on Wednesday, and pinned the blame on Germany for wrecking the $45 billion deal.

  • Iraq officially retreats from ambitious oil plans Wednesday, 10 Oct 2012 | 11:28 AM ET

    BAGHDAD-- Iraq officially stepped back on Wednesday from its ambitious plans to more than triple its oil production by 2017, but it remains more optimistic than the world's leading global energy monitor about how fast and how high it can boost output.

  • Telecom Italia says advisors to look at network spinoff Wednesday, 10 Oct 2012 | 11:27 AM ET

    MILAN, Oct 10- Italy's largest telecoms group Telecom Italia said on Wednesday it had asked advisors to start assessing aspects of a possible spin-off of its fixed-line access network.

  • France, Spain: Europe must keep promises in crisis Wednesday, 10 Oct 2012 | 11:26 AM ET

    PARIS-- The leaders of France and Spain said Wednesday that the 17 countries that use the euro already have all the tools they need to solve their debt crisis and now must put their promises into action.

  • TEXT-Fitch affirms Ukraine-based MHP SA at 'B' Wednesday, 10 Oct 2012 | 11:26 AM ET

    Oct 10- Fitch Ratings has affirmed Ukraine- based poultry and agricultural producer MHP S.A.' s Long-term foreign currency Issuer Default Rating at' B' with a Stable Outlook. The rating is capped by Ukraine's Country Ceiling of' B'.

  • UPDATE 2-Regulator eases UK bank rules to support lending Wednesday, 10 Oct 2012 | 11:16 AM ET

    *FPC member Jenkins says banks may need more capital* Industry says mixed messages on capital add to uncertainty* Lloyds shares up 4.5 pct, UK bank shares rise.

  • TORONTO, Oct 10- Canada's main stock index was slightly lower on Wednesday morning as materials shares strengthened and financials weakened after the starting round of the U.S. earnings season flashed mixed signals. A warning from Alcoa Inc.

  • Romney's Bain advisers aided China, Russia growth Wednesday, 10 Oct 2012 | 11:16 AM ET

    WASHINGTON-- As Bain& Co. head in the early 1990 s, Mitt Romney presided over the corporate strategy firm's expanding operations into China and Russia, helping their initial attempts to move into the world's free market system. In his campaign, China and Russia are prime targets for criticism.