*Storm kills two in Britain, one in Denmark. BERLIN/ LONDON Dec 5- Hurricane-force Storm Xaver blasted towards mainland Europe on Thursday after cutting transport and power in northern Britain and killing three people in what meteorologists warned could be the worst storm to hit the continent in years.» Read More
LONDON, July 19- Energy experts say it is difficult to estimate how much shale gas could be developed commercially in Britain, and their estimates differ widely for the next decade.
*Amount of potential UK shale production uncertain. Finance minister George Osborne said the government wanted to create the right conditions in Britain for industry to unlock the potential of shale gas. Utilities analyst Peter Atherton at Liberum Capital said the new tax allowance could attract more companies.
BEIJING, July 19- China's central bank announced long-awaited interest rate reforms on Friday, removing controls on the rates banks may charge clients for loans, in a step towards more market-driven pricing of credit.
*Australian dollar rises after China's central bank announces reforms. LONDON, July 19- The dollar held near a one-week high against the yen on Friday ahead of Japan's upper house elections, which could add momentum to Prime Minister Shinzo Abe's aggressive economic reform drive.
July 19- General Electric Co posted a decline in quarterly profit and revenue on Friday on weakness in its finance unit, but its order book rose, sending shares up 2.4 percent in early trading. GE Capital's revenue fell 3 percent from the same period last year, and its earnings dropped 9 percent.
BEIJING, July 19- China's central bank announced long-awaited interest rate reforms on Friday, scrapping the floor on rates that banks charge clients for loans. The People's Bank of China said in a statement on its website that rate reform will help lower financial costs for companies. **JOE NEIGHBOUR, SENIOR BROKER, CENTRAL MARKETS, LONDON:.
July 19- VF Corp, owner of the brands like Wrangler jeans and The North Face outdoor clothing, reported higher quarterly adjusted earnings, helped by lower cotton costs and rising sales of high-margin merchandise.
BEIJING, July 19- China's central bank said on Friday that relaxing controls on bank deposit rates is a risky process that needs mature market conditions, so it will be carried out gradually.
The Boston- based bank earned $571 million, or $1.24 a share, compared with $455 million, or 98 cents a share, in the year-ago period.
LONDON, July 19- European shares pared their losses on Friday, with traders attributing the move higher to a decision by China to set up interest rate reforms which would help the Chinese economy. China's central bank announced long-awaited interest rate reforms on Friday, scrapping the previous floor on the rates that banks charge clients for loans.
*Microsoft, Google tumble after results miss. NEW YORK, July 19- U.S. stock index futures were mixed on Friday, after the Dow and S&P 500 closed at record highs a day earlier, in the wake of disappointing results from tech giants Microsoft and Google.
LONDON, July 19- Brent crude oil rose to $109 a barrel on Friday after encouraging economic data and a sharp decline in U.S. crude stockpiles signalled stronger demand for fuel in the world's top oil consumer. Brent rose 35 cents to $109.05 by 1120 GMT.
July 19- Honeywell International Inc reported stronger-than-expected second-quarter earnings, helped by higher margins. Net income attributable to the company rose to $1.02 billion, or $1.28 per share, in the quarter ended June, from $902 million, or $1.14 per share, a year earlier.
PARIS, July 19- European jetmaker Airbus has raised its order target for 2013 to more than 1,000 aircraft, compared with a previous goal of more than 800, sales chief John Leahy told Reuters on Friday.
BEIJING, July 19- China's central bank announced long-awaited interest rate reforms on Friday, scrapping the previous floor on the rates that banks charge clients for loans. The People's Bank of China also said in a statement on its website that it would remove controls over bill discount rates. It did not remove a cap on deposit rates.
July 19- General Electric Co reported a better-than-expected quarterly profit on Friday as orders for its industrial machinery rose across its portfolio. GE, the world's largest jet engine manufacturer, posted second-quarter net income of $3.69 billion, or 36 cents per share, for the second quarter, from $4.01 billion, or 38 cents per share, a year earlier.
*Fed stimulus withdrawal eyed, clarity sought from China. MOSCOW, July 19- The world's economic crisis response team grappled on Friday with the prospect of more market volatility resulting from powerhouses the United States, China and Japan charting a course towards recovery.
LONDON, July 19- GlaxoSmithKline has sent its head of emerging markets to China to lead the drugmaker's response to an unfolding crisis over alleged bribery and corruption, a person familiar with the situation said on Friday.
July 19- General Electric Co reported a fall in second-quarter profit, hurt by lower demand for power and water products. Operating earnings fell to $3.69 billion, or 36 cents per share, for the quarter ended June 30, from $4.01 billion, or 38 cents per share, a year earlier. Revenue fell 4 percent to $35.1 billion.
*Credit Suisse upgrades rating on continental Europe. LONDON, July 19- European shares slipped on Friday with specialist chemical storage group Vopak slumping after cutting its outlook, as opinions were divided on whether this month's equity rally was running out of steam.