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  • 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.

  • 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.

  • UPDATE 1-Indonesia's Bakries say phones, emails hacked Wednesday, 10 Oct 2012 | 11:12 AM ET

    *News comes a day ahead of Bumi Plc board meeting. LONDON/ SINGAPORE, Oct 10- Telephones and email accounts belonging to Indonesia's influential Bakrie clan have been hacked, a Bakrie official said, pointing to unspecified "suspicions" likely to further strain relations with fellow investors in UK miner Bumi Plc.

  • Burton's 'Frankenweenie' opens London Film Fest Wednesday, 10 Oct 2012 | 10:56 AM ET

    LONDON-- This year's London Film Festival has Ben Affleck, Dustin Hoffman and the Rolling Stones _ and it's bookended by one of the city's premiere cinematic couples. Britain's biggest film showcase opens Wednesday with the European premiere of London- based American director Tim Burton's "Frankenweenie," the animated tale of a boy and his beloved _ but dead _ dog.

  • LONDON, Oct 10- The shale boom has left some of the most sophisticated refineries in the United States hunting across Europe and Africa for more of the heavy residue left over from other refiners' crude distillation units, as they try to find a use for all the expensive coking units built in the last decade.

  • UPDATE 2-Rabobank weighs bids for asset manager Robeco Wednesday, 10 Oct 2012 | 10:53 AM ET

    *AMG/Permira plan to split up Robeco- sources. *Robeco could fetch more than 2 bln euros- sources. is weighing three offers for its asset management arm Robeco, facing a choice between bids to split the 2 billion euro- plus business or sell it in one piece, people familiar with the situation said.

  • NEW DELHI, Oct 10- Tata Steel's Europe unit will receive the first iron ore shipment from its Benga project in Mozambique by end-October, a top official said, a first step towards addressing the cost volatility affecting its European operations.

  • RLPC-Ireland's IBRC to sell 2 bln euros of loans Wednesday, 10 Oct 2012 | 10:40 AM ET

    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.

  • Costco's 4Q results top Wall Street expectations Wednesday, 10 Oct 2012 | 10:36 AM ET

    ISSAQUAH, Wash.-- Costco is drawing more shoppers and signing up more new members, helping the wholesale club operator's fiscal fourth-quarter net income and revenue climb. Consumers have been drawn to stores like Costco, BJ's Wholesale Club and Sam's Club because they feel like they are getting bargains by purchasing items in bulk.

  • BERLIN, Oct 10- Germany denied responsibility for the failed merger of Airbus parent EADS and Britain's BAE Systems on Wednesday, but an official acknowledged that forming a world defence giant would have created difficulties in Berlin. "Germany alone did not block the merger.

  • BRUSSELS, Oct 10- German Defence Minister Thomas de Maiziere dismissed on Wednesday suggestions that German objections were the main reason for the collapse of merger talks between European planemaker EADS and Britain's BAE Systems. I do not share it, "said de Maiziere, who was in Brussels for a meeting of NATO defence ministers.

  • RPT-Tax on trading threatens new division in Europe Wednesday, 10 Oct 2012 | 10:21 AM ET

    *Group of 11 countries agree to impose transactions levy* Move to impose tax criticised by industry* Regulator warns of Europe's diverse regulation By John O'Donnell.

  • BERLIN, Oct 10- Germany's industrial interests are best served if planemaker EADS remains independent, Deputy Economy Minister Peter Hintze said on Wednesday after merger talks between EADS and Britain's BAE Systems collapsed.

  • Oct 10- Ring-fencing the investment banking or retail banking operations of major European banks could lead to greater ratings differentiation between legal entities in the same banking group, Fitch Ratings says.

  • Europe's cocoa grind to dip as chocolate market shrinks Wednesday, 10 Oct 2012 | 10:12 AM ET

    LONDON, Oct 10- Falling chocolate demand in Europe due to the economic crisis is expected to cut the continent's cocoa grinding in the third quarter. This would mark the second consecutive quarter of sharp falls, after Europe's second-quarter cocoa grind was down a record 17.8 percent, Brussels- based European Cocoa Association data showed in July.

  • UPDATE 5-EADS, BAE call off world's biggest arms merger Wednesday, 10 Oct 2012 | 10:09 AM ET

    *Sources said Germany opposed the $45 billion aerospace merger. 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.

  • Tax on trading threatens new division in Europe Wednesday, 10 Oct 2012 | 10:08 AM ET

    *Regulator warns of Europe's diverse regulation. BRUSSELS, Oct 10- A plan by a group of euro zone countries to introduce a tax on financial transactions threatens to drive more trading to London from centres such as Frankfurt, exacerbating divisions in Europe as it struggles to overcome an economic crisis.

  • National Grid ramps up search for UK CO2 storage site Wednesday, 10 Oct 2012 | 10:05 AM ET

    LONDON, Oct 10- Britain's National Grid Plc. "This drilling operation is a major step forward in the development of a long-term, large-scale CCS cluster of transportation networks and storage facilities in the UK," Jim Ward, National Grid's head of CCS, said on Wednesday.

  • Jamaica Parliament honors former PM Edward Seaga Wednesday, 10 Oct 2012 | 10:03 AM ET

    KINGSTON, Jamaica-- The two houses of Jamaica's Parliament held a special joint sitting Tuesday to honor former Prime Minister Edward Seaga, a major player in national politics for decades and the only survivor of the leaders who drafted the constitution when the Caribbean island gained independence from Britain in 1962..