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Europe News London

  • PARIS— Paris and London, traditional rivals when it comes to attracting tourists and industry, have signed a business agreement to cooperate in attracting visitors and companies. The two cities, which are linked by rail, have seen their rivalry intensify recently as Paris hopes to welcome finance jobs that are expected to leave London because of Brexit.

  • *Libya supply cut by a third due to armed faction action. *Iran minister says OPEC deal "likely" to be extended. LONDON, March 28- A severe disruption to Libyan oil supplies and comments from officials suggesting OPEC could extend its production cuts deal to the end of the year boosted oil prices on Tuesday.

  • STOCKHOLM, March 28- An attempt by Ericsson's new chief executive to lay out his strategy for the Swedish telecoms equipment maker backfired on Tuesday when it exposed problems related to some of its main contracts. Chief Executive Borje Ekholm, who took charge only in January, announced up to $1.7 billion in provisions, writedowns and restructuring costs to be...

  • Britain is set to trigger the start of negotiations on Wednesday. EU officials have insisted the divorce terms must be settled before talks on a new relationship with Britain can begin, while London had hoped the two things could be done simultaneously. From now on, Weber said, the parliament would be looking out for the 27 EU nations and its 440 citizens first and...

  • LONDON, March 28- Banks are treading carefully, enacting two-stage contingency plans, to avoid losing nervous London- based staff as they work out how many jobs will have to move to continental Europe as Britain exits the European Union. British Prime Minister Theresa May will trigger formal EU divorce proceedings on Wednesday, launching two years of...

  • LONDON— A new 12- sided British pound coin is entering circulation amid concern that the round pound was too easy to counterfeit. The new coin introduced Tuesday is intended to be the most secure in the world, featuring a hologram that changes from the pound symbol to the numeral one. It also has micro-lettering and milled edges.

  • LONDON, March 28- The premium investors demand to hold French bonds fell to a two-month low on Tuesday while money managers balked at a sale of safe-haven German debt in a clear sign that market tensions around upcoming French elections have eased. An opinion poll on Tuesday showed centrist Emmanuel Macron has more than a 20 point lead over far-right,...

  • LONDON, March 28- Copper rose on Tuesday after hitting a two-week low in the previous session as hopes that U.S. Workers are returning to work this week at Escondida in Peru, the world's biggest copper mine, after a strike that began on Feb. 9. *COPPER: Three-month copper on the London Metal Exchange was up 0.7 percent at $5,801 a tonne at 1205 GMT.

  • *Libya supply cut by a third due to armed faction action. *Iran minister says OPEC deal "likely" to be extended. LONDON, March 28- Oil prices rose on Tuesday thanks to a weakened dollar, supply disruption in Libya and the latest comments from officials suggesting OPEC could extend its deal cutting global production.

  • LONDON, March 28- Fast-rising inflation and growing talk of tighter monetary policy from the Bank of England may spell the end of a winning streak for British gilts, among the best performers in major government bond markets this year. Such low yields-- resulting from bond price rises-- for long-dated paper in part reflect doubt about how Britain's economy will...

  • *Asia non-life distribution deal could be worth at least $500 mln. *Deal will be one of the largest in Asia. The multi-year, bancassurance deal for products such as motor, property and travel insurance, will be one of the largest of its kind in the region, and give insurers access to 15 million customers of Citibank in 12 markets including Singapore, Hong Kong, China,...

  • LONDON _ IHS Markit Ltd. on Tuesday reported fiscal first-quarter profit of $66 million. IHS Markit expects full-year earnings in the range of $2.02 to $2.08 per share, with revenue in the range of $3.49 billion to $3.56 billion. IHS Markit shares have climbed 13 percent since the beginning of the year.

  • LONDON, March 28- Initial public offerings by companies based in Britain have raised $1.53 billion so far in 2017, a 28 percent decline on last year and the lowest year-to-date total since 2012 as Britain prepares to leave the EU, Thomson Reuters data shows. With London set to begin the process of leaving the European Union on Wednesday, and elections in France and...

  • The San Francisco- based company said on Tuesday that small-and medium-sized businesses in the U.K. would be able to use Square's credit card reader to accept payments on mobile devices. Reuters reported in July that Square had incorporated a business called Squareup Europe Ltd in Britain and the company had been testing its payment system in London.

  • Chief Executive John Martin said Wolseley, which started life in 1887 manufacturing machine tools and was involved in early motor car production, would keep its main market listing in London where it is a constituent of the FTSE 100 index. The renaming of the parent company, subject to investor approval, alongside news that Wolseley will switch to reporting...

  • *STOXX 600 up 0.4 pct. LONDON, March 28- European shares rose on Tuesday, boosted by strong results and deal-making across the region, recovering from the previous session's sentiment-fueled dip. Wolseley was the top European gainer, up 6.3 percent and hitting almost a decade high, after posting a 25 percent rise in profit for its first half, driven by strong growth...

  • *Iran minister says OPEC deal "likely" to be extended. LONDON, March 28- Oil prices rose on Tuesday thanks to a weakened dollar, supply disruption in Libya and the latest comments from officials suggesting OPEC could extend its deal cutting global production. In the United States, West Texas Intermediate crude futures were up 48 cents at $48.21 a barrel.

  • LONDON, March 28- South Africa's rand took another tumble on Tuesday with investors reeling from President Jacob Zuma's sudden decision to recall his finance minister from a trip abroad in a sign of escalating tensions. The losses came after Zuma ordered Pravin Gordhan, trusted as a steady hand by investors, to return back to South Africa from an investor...

  • LONDON— Britain's biggest supermarket chain, Tesco, has agreed to pay 214 million pounds in fines and shareholder compensation following an accounting scandal that inflated its profits in 2014.. The U.K.' s Serious Fraud Office says Tesco Plc agreed to pay a fine of 129 million pounds as part of a deferred compensation agreement. In addition, the Financial...

  • LONDON, March 28- Sterling traded within a tight range on Tuesday, outperforming other major peers against the dollar, apparently disregarding Britain's looming formal launch of negotiations on leaving the European Union. British Prime Minister Theresa May will trigger Article 50 of the EU constitution with a formal notification of Britain's intent to...