• Traders see Europe's Tobin tax hurting savers Thursday, 11 Oct 2012 | 11:49 AM ET

    LONDON, Oct 11- Europe's top trading firms warned that plans for a transaction tax in the region will burden pension funds with higher charges because traders will shift the extra costs to their clients.

  • WAfrica Crude-Asian demand underpins values Thursday, 11 Oct 2012 | 11:46 AM ET

    LONDON, Oct 11- West African crude oil differentials held steady on Thursday, supported by several outstanding Asian tenders, which traders said could absorb up to four cargoes from the region. *Around 15 cargoes of Nigerian crude oil remained unsold for lifting in November, including Qua Iboe, Bonny Light, Bonga, and Forcados.

  • UPDATE 1-Second-tier banks need capital top-up by 2016 Thursday, 11 Oct 2012 | 11:44 AM ET

    By Catherine Bosley and Steve Slater. ZURICH/ LONDON, Oct 11- Nationally important banks will need to hold extra capital from 2016 to cushion the impact on their domestic economies if they hit trouble, but the global banking watchdog will leave it up to national regulators to say how much more.

  • TEXT-S&P cuts Metro AG ratings Thursday, 11 Oct 2012 | 11:42 AM ET

    --We believe that Germany- based retailer Metro AG's. profitability will continue to weaken as indicated by the company's 2012 EBIT revision to EUR2 billion from almost EUR2.4 billion. Rating Action On Oct. 11, 2012, Standard& Poor's Ratings Services revised its long-term corporate credit rating on German retailer Metro AG to' BBB-' from' BBB'.

  • Scallop spat: UK, French fishermen in catch clash Thursday, 11 Oct 2012 | 11:40 AM ET

    PARIS-- A bumper season for the French national dish of Coquilles St. Jacques has turned into a bitter dispute in the English Channel, as French fishermen angry over British expansion into their waters surrounded British boats in a show of maritime force.

  • UPDATE 3-Azeri president attacks BP over low oil output Thursday, 11 Oct 2012 | 11:33 AM ET

    BAKU/ LONDON, Oct 11- Azerbaijan accused BP on Wednesday of making "false promises" on oil output and said the state had missed out on $8 billion of potential revenues from what is one of the company's biggest projects in the world.

  • LONDON, Oct 11- The cost of borrowing cash using Spanish government bonds as collateral was little changed on Thursday as the prospect of European Central Bank debt purchases offset the impact of a downgrade in Spain's rating.

  • Nordic power bills to jump on new export links Thursday, 11 Oct 2012 | 11:25 AM ET

    OSLO, Oct 11- Nordic power prices could rise as much as 10 percent by the end of the decade as a clutch of new power lines will allow producers to sell their electricity into higher priced markets in continental Europe and Britain.

  • MOSCOW, Oct 11- Russian private healthcare provider MD Medical Group will sell shares at no less than $12 per global depositary receipt at its London initial public offering later this month, financial market sources said on Thursday.

  • LONDON, Oct 11- Monitise PLC:. *John Brougham, chief financial officer, is retiring from the board with. *Nick Taylor, as group Finance director, will continue to run the finance.

  • *Propose unwinding of Bumi Plc. SINGAPORE/ LONDON, Oct 11- Indonesia's powerful Bakrie family has proposed splitting from financier Nat Rothschild and Bumi Plc, the London- listed miner they co-founded two years ago, after news of an inquiry into possible wrongdoing strained their already tense relations.

  • Scallop feud stirs waters between Britain and France Thursday, 11 Oct 2012 | 11:15 AM ET

    The clash came to light on Thursday when British fishermen urged the British Navy to protect them following the incident near the French port of Le Havre. "Something's got to be done about this," said John Hermse, chief executive of Britain's Scallop Association.

  • Ghana court upholds seizure of Argentine ship Thursday, 11 Oct 2012 | 11:14 AM ET

    The court earlier ordered the seizure of the Argentine tall sailing ship at Tema harbor following judgments against Argentina issued by the United States District Court and supported by similar court rulings in the United Kingdom. Justice Richard Agyei-Frimpong said Thursday that Argentina had not shown why the injunction on the ship should be set aside.

  • ZURICH, Oct 11- How much capital domestically important banks will be required to hold as of 2016 will be left up to national regulators, the deputy secretary general of the Basel Committee on Banking Supervision said. "The level will be up to the supervisors," Bill Coen told Reuters. " The minimum ought to be the Basel minimum. "

  • REFILE-BAE to meet with investors on 'plan B' Thursday, 11 Oct 2012 | 10:54 AM ET

    By Chris Vellacott and Sinead Cruise. LONDON, Oct 11- BAE Systems moved to patch up damaged relations with its investors on Thursday, promising imminent meetings to discuss its strategy after the failure of its attempted merger with EADS, shareholders told Reuters.

  • BAE to meet with investors on 'plan B' Thursday, 11 Oct 2012 | 10:52 AM ET

    By Chris Vellacott and Sinead Cruise. LONDON, Oct 11- BAE Systems moved to patch up damaged relations with its investors on Thursday, promising imminent meetings to discuss its strategy after the failure of its attempted merger with EADS, shareholders told Reuters on Thursday.

  • Greece's biggest firm leaves, jobless rate soars Thursday, 11 Oct 2012 | 10:39 AM ET

    *Greece's biggest company, bottler CCH, quits for Switzerland. ATHENS, Oct 11- Greece's jobless rate topped 25 percent and its biggest company said it would quit the country on Thursday in a fresh blow to an economy that German experts warned cannot be "saved" without writing off more debt.

  • Markets get lift from US jobs figures Thursday, 11 Oct 2012 | 10:38 AM ET

    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.

  • BofA rejigs Europe financial services advisory team Thursday, 11 Oct 2012 | 10:32 AM ET

    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.

  • COLUMN-Is Mitt Romney a closet Keynesian? Thursday, 11 Oct 2012 | 10:27 AM ET

    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."