"Capitalistic Russia is only 20 years old," says the manager of Russia's newest sovereign wealth fund. "So it is building institutions."» Read More
LONDON, Oct 9- A warning about the global growth from the IMF sent European shares lower for a second day on Tuesday despite a move by China to support its flagging economy, while escalating tensions between Turkey and Syria in the Middle East sent oil higher.
BIRMINGHAM, England, Oct 9- British Prime Minister David Cameron said on Tuesday a referendum on the relationship with the European Union was the most sensible way of forging a fresh settlement with the 27- member bloc. Cameron gave no time frame for a vote.
AMSTERDAM-- ING Groep NV says it is selling its British businesses linked to online banking arm ING Direct UK to Barclays at a 320- million loss. ING did not disclose what the actual sales price was. ING said in a statement Tuesday it was selling in order to "sharpen the focus of the bank."
LONDON, Oct 9- European shares gave up early gains and turned negative on Tuesday as persistent concerns over a slowdown in global growth and its impact on corporate earnings weighed on investor sentiment.
*Flows drop to Germany, Belgium and Britain. Exports to Europe including Britain dropped by 8.7 million cubic metres to 271.3 mcm per day by 0600 GMT compared with the 280 mcm daily average on Monday. The 70 mcm capacity plant processes gas from the giant offshore Ormen Lange gas field before it is shipped to Britain and continental Europe.
*Rio cautious on impact of China stimulus. *Optimistic on China power supply for Mongolia copper mine. LONDON, Oct 9- Global miner Rio Tinto cut its growth forecast for China and said it was stepping up efforts to cut costs, having already slashed $500 million, faced with an uncertain global outlook.
BIRMINGHAM, England, Oct 9- British Prime Minister David Cameron said on Tuesday he would not soften his austerity programme with a "Plan B" of slower spending cuts after the International Monetary Fund downgraded its growth forecasts for Britain.
LONDON, Oct 9- European shares edged higher on Tuesday, bouncing back following sharp losses in the previous session, after a move by China to inject cash into the money market encouraged speculation it would announce more stimulus measures.
Britain's benchmark share index edged up on Tuesday, as mining stocks rose after a fresh injection of central bank liquidity by China- the world's top metals consumer- bolstered prospects of stimulus measures which would help boost the global economy. At 0711 GMT, the FTSE 100 index was up 8.57 points, or 0.2 percent at 5,850.31.
LONDON, Oct 9- Ithaca Energy Inc:. *Acquisition of non-operated interests in cook and macculloch UK North Sea. *Total consideration is US $38.5 million.
LONDON, Oct 9- Aortech International PLC:.
*Britain's FTSE 100 index is seen opening 14 to 16 points higher, or up 0.3 percent, according to financial bookmakers. *The UK blue chip index closed down 0.5 percent, or 29.28 points lower, at 5,841.74 points on Monday.
LONDON, Oct 9- Barclays PLC will buy the deposits, mortgages and business assets of ING Direct UK, as it looks to expand its retail operations and minimise exposure to a shrinking investment banking market.
LONDON, Oct 9- British Prime Minister David Cameron said on Tuesday he would not soften his austerity programme with a "Plan B" after the International Monetary Fund downgraded its growth forecasts for Britain. We know that, "Cameron told BBC. The IMF said Britain might have to defer some of its spending cuts if growth turns out much worse than expected.
MOSCOW, Oct 9- Russia's second-largest mobile phone operator MegaFon, in which Russia's richest man Alisher Usmanov took control in April, said on Tuesday it plans to launch an initial public offering on the London Stock Exchange. Shares will be sold by Nordic co-owner TeliaSonera and MegaFon itself.
LONDON, Oct 9- Rio Tinto said on Tuesday it saw production growth ahead for its copper arm and remained "optimistic" on the outcome of talks with China on a power deal for its key Oyu Tolgoi copper-gold project, but the miner warned it was cautious on the broader economic outlook.
LONDON, Oct 9- Barclays PLC will buy the deposits, mortgages and business assets of ING Direct UK valued at more than 11 billion pounds, the British bank said in a statement on Tuesday.
AMSTERDAM, Oct 9- Dutch bank and insurance group ING said on Tuesday it had agreed to sell ING Direct UK to British bank Barclays, taking a 320 million euro loss on the transaction after tax.
LONDON, Oct 9- Pennon Group PLC:. *Expands its waste management business. *Has acquired Pulp Friction Limited, a paper collection and processing.
*Pointpark Properties- intention to float on London Stock Exchange. *Pointpark Properties- intends to raise gross proceeds of circa 250 million. STG via an initial public offering.