Ukraine may have dropped out of the headlines but its economic troubles are worsening as it continues to battle with separatists—and bondholders.» Read More
Financial spreadbetters expect Britain's FTSE 100. to open 24 to 25 points lower, or down 0.4 percent, Germany's DAX to open 26 points lower, or down 0.4 percent, and France's CAC-40 to open 17 to 18 points lower, or down 0.5 percent. >Wall St falls in tech-led sell-off, Alcoa up late.
By early afternoon in Europe, benchmark oil was down 28 cents to $92.11 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose $3.06 on Tuesday to finish at $92.39 per barrel on concerns about supplies from the Middle East and the North Sea.
LONDON, Oct 10- Controversial former Conservative Party deputy chairman Lord Ashcroft on Wednesday uncorked plans to tap into Britain's burgeoning sparkling wine industry.
PARIS, Oct 10- French media group Lagardere, owner of 7.5 percent of EADS, on Wednesday renewed its support in the management of the Airbus maker after its merger talks with Britain's BAE Systems failed.
ZURICH, Oct 10- The following are some of the main factors expected to affect Swiss stocks on Wednesday:. Alleged rogue trader Kweku Adoboli exposed Swiss bank UBS to billions of dollars of hidden market risk for weeks on end, peaking at nearly $12 billion on Aug. 8 last year, a London court heard on Tuesday.
By Claire Ruckin and Tessa Walsh. LONDON, Oct 10- State-backed Irish Bank Resolution Corporation, the former Anglo Irish Bank, is considering selling a loan portfolio of up to 2 billion euros as part of its push to wind up its operations by 2020, banking sources said on Tuesday.
LONDON, Oct 10- The head of an internal UBS. probe into "rogue trader" Kweku Adoboli, accused of losing the Swiss bank $2.3 billion, did not consider whether others at the bank might have been involved, a London court heard on Wednesday. Adoboli, 32, is on trial at London's Southwark Crown Court accused of two charges of fraud and false accounting, which he denies.
BANGKOK/ SINGAPORE, October 10 Fitch Ratings Limited says Thailand's economic performance has continued to show resilience to global shocks but slower regional growth and increasing leverage in the corporate and bank sectors will constrain ratings.
STOCKHOLM, Oct 10- Sweden's financial watchdog said on Wednesday that banks should retain responsibility for setting Swedish interbank rates, the system for which is under review by the central bank in the wake of the rigging of its London equivalent.
By Sophie Sassard and Jason Neely LONDON, Oct 10- EADS and BAE Systems. The European companies have until 1600 GMT on Wednesday to declare their intentions and either scrap their merger or ask UK regulators for more time to finalise their plans to create the world's largest aerospace and arms group.
*FTSE 100 down 0.6 percent. LONDON, Oct 10- Global growth worries prodded Britain's top share index lower on Wednesday as a failed merger with a French peer hurt shares in defence and aviation firm BAE Systems.
The arbitrage of Forties to South Korea appears to have resumed. Shipment of Forties to South Korea has been encouraged by a free trade agreement during 2012 and it tends to support prices in the North Sea market, as well as Brent swaps and timespreads.
--U.K.- based roadside assistance provider RAC Finance Ltd. is adding a new GBP260 million term loan C facility to its capital structure. --The proceeds of this new facility, plus GBP30 million of cash on the balance sheet, will be used to repay GBP290 million of existing shareholder loans.
*Turkey warns Syria about cross-border shelling. Shelling along the Turkey- Syria border, hostility between Iran and the West and an impending Israeli election have reinforced fears about potential threats to oil supplies from the Middle East Gulf.
*Gazprom Neft still interested in Kurdistan- sources. NOVO-OGARYOVO, Russia, Oct 10- President Vladimir Putin lobbied Iraq's prime minister on Wednesday to support Russian energy investment, as the oil arm of gas export monopoly Gazprom pushes for a foothold in the semi-autonomous region of Kurdistan.
Traders also cited some remaining uncertainty following Tuesday's strike in the energy sector in France, which completely halted production at E.ON' s. "All of E.ON' s plants were off yesterday and as far as I know they were all available again today, but the strike notice still hasn't been lifted, and this is creating tensions," a Paris- based trader said.
Oct 10- Fitch Ratings has downgraded LCP Proudreed Plc's class A and B commercial mortgage-backed floating rate notes due 2016 and affirmed the two junior tranches as follows:. GBP239.3 class A downgraded to' AAsf' from' AAAsf'; Outlook Negative. GBP32.2m class B downgraded to' Asf' from' AAsf'; Outlook Negative.
There were large blocks of empty seats at some stadiums at the 2010 World Cup in South Africa and this year's European Championship in Poland and Ukraine. At the Leaders in Football conference on Wednesday, FIFA marketing director Thierry Weil said sponsors would have to name the people using tickets two or three days before matches in Brazil.
LONDON, Oct 10- Britain's financial watchdog said it was pressing ahead with a reform of how consumers are sold investment products from January, dashing industry hopes for last minute changes.
S Treasury Secretary Tim Geithner, Fed Chairman Ben Bernanke will visit Mumbai. *Prime Minister Manmohan Singh to speak at International Energy ministers meeting in New Delhi. *World Steel Association's 2- day annual conference in New Delhi.