What can be done to stop ISIS? Bob Kent, Hafaza International, discusses just how capable ISIS is, and provides insight to the funding of the terrorist group.» Read More
LONDON-- A surprisingly big drop in weekly U.S. jobless claims helped shore up financial markets Thursday despite a downgrade of Spain's sovereign credit rating. The Labor Department reported that claims last week fell by 30,000 to 339,000, the lowest level since February 2008.
By Anjuli Davies and Sarah White. LONDON, Oct 11- Bank of America Merrill Lynch. Michael Frieser and Marc Tempelman have been appointed co-heads of financial institutions corporate and investment banking for Europe, the Middle East and Africa.
NEW YORK, Oct 11- John Maynard Keynes said back in 1936 that "practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist."
*Turkey, Syria fighting stokes concern over Mideast supply. LONDON, Oct 11- Brent crude oil reached its highest in a month on Thursday, lifted by escalating tension between Syria and Turkey, maintenance in the North Sea and a supply crunch in oil products.
By Matt Scuffham and Kylie MacLellan. LONDON, Oct 11- Insurer Direct Line made a solid stock market debut on Thursday, marking a milestone in parent Royal Bank of Scotland's recovery efforts. The bank said the sale was the next important step in its recovery plan, having earlier this year finished paying back emergency loans to Britain and the United States.
Oct 11- Fitch Ratings has affirmed Royal Bank of Scotland plc's GBP10.0bn equivalent mortgage covered bonds at' AAA' with a Stable Outlook following a review of the programme. The rating is based on RBS's Long-term Issuer Default Rating of' A', the Discontinuity Cap of 4 and the asset percentage of 65.2% that Fitch takes into account in its analysis.
LONDON, Oct 11- Office Of Fair Trading:.
LONDON, Oct 11- Britain's energy minister wants to financially support two pilot carbon capture and storage projects, a technology the UK is banking on to reduce climate-warming emissions and to develop as a new export product.
*Europe still biggest drag on world growth. LONDON, Oct 11- Next year offers only a slight improvement for a global economy hit by recession in Europe and slowing or moribund growth in Asia and the United States, according to Reuters polls of hundreds economists worldwide.
LONDON, Oct 11- Lonmin PLC:. *Final amendment of mining right and settlement with keysha. with an amount of approximately $4.0 million.
MILAN, Oct 11- Italy's government could raise 1 billion euros a year from a tax on financial transactions but the levy risks hurting small investors more than speculators, the head of an Italian brokers' association said.
The news could help President Barack Obama in his tight race for re-election on Nov. 6 against Republican challenger Mitt Romney, who says Obama has mishandled the economy. Initial claims for state unemployment benefits fell 30,000 to a seasonally adjusted 339,000, the Labor Department said.
*Banking industry like a "naughty child"- Hiscox CEO. The pressure comes as Britain prepares to scrap its financial services watchdog early next year and replace it with two new bodies: the Financial Conduct Authority and the Prudential Regulation Authority, part of the Bank of England.
LONDON, Oct 11- Old Mutual PLC:. *Entered definitive agreements to sell five of its US affiliates to their. *These businesses had combined assets under management of $11.7 billion at 30.
Oct 11- Fitch Ratings says in a new report that 30% of structured finance transactions are now achieving higher Issuer Report Grades then at the end of 2011. The agency has updated its Issuer Report Grades scores for EMEA transactions.
*Move follows record fraud fine in United States. LONDON, Oct 11- GlaxoSmithKline, criticised in the past for keeping important information about its medicines to itself, is to lift the lid on more of its drug data secrets.
BRUSSELS, Oct 11- The European Union's top official fleshed out his ideas for a separate budget for euro zone countries on Thursday, and indirectly warned British Prime Minister David Cameron about using the proposal for his own political gain.
LONDON, Oct 11- The Rolling Stones released new single "Doom and Gloom" on Thursday, their first new song in over six years, and early reviews were mixed.
*Qatari LNG supplies to UK also down sharply. *UK spot gas prices up 10 pct since beginning of Oct. LONDON, Oct 11- Britain's winter gas supply may hit a crunch in a cold snap after volatile imports from Norway due to technical problems compound variable shipments from Qatar.
LONDON, Oct 11- Smiths Group PLC:. *Smiths Group announces senior management changes. *Duncan Gillis, appointed CEO of John Crane.