Europe News London

  • LONDON, Sept 28- Britain voted to leave the European Union on June 23 and is expected to trigger Article 50, the formal process of leaving the bloc, next year. Below is reaction from a selection of British companies as to how the Brexit vote has impacted their business so far. Ryanair said in July it plans to cut millions of seats from London routes and shift them to...

  • NEW YORK, Sept 28- Royal Bank of Scotland Group Plc will pay $1.1 billion to resolve claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration said. The settlement on Tuesday resolves lawsuits filed in federal courts in California and Kansas in the NCUA's role as the liquidating agent...

  • Most expect Brexit to be disruptive, and to raise costs for companies, but the hard talk negotiations between Britain and the EU on the crucial issues of tariffs and the free movement of labor are still months away and will possibly take years to resolve. That means years of uncertainty over the cost of building cars in Britain and the ease of exporting them to...

  • BEIJING— Global stock markets were mixed Wednesday after Wall Street gained and investors were reassured by trade-friendly Hillary Clinton's performance in a U.S. presidential debate against Donald Trump. London's FTSE 100 gained 0.9 percent to 6,873.44. On Tuesday, the DAX lost 0.3 percent and the CAC-40 and FTSE 100 both declined 0.2 percent.

  • *Oil up on U.S. inventories data, eyes on Algiers talks. LONDON, Sept 28- A rise in Deutsche Bank shares helped push European stocks higher on Wednesday, easing concerns over Germany's financial sector that had hit equities in Asia and drove investors into safe-haven government bonds and the dollar. Federal Reserve Chair Janet Yellen's appearance before a...

  • *IMF says Iraq must revise "too expensive" 2017 draft budget. The political infighting comes as major OPEC producer Iraq struggles to fill a public deficit left by the collapse in global prices for its crude exports. To replace missing oil revenue, Iraq has turned to the International Monetary Fund for a loan package, which would also serve as the basis for other...

  • LONDON, Sept 28- Sterling traded back above $1.30 on Wednesday, staying clear of a six-week low hit earlier in the week, after the head of the Bank of England mande upbeat comments about the long-term prospects for the UK economy. Governor Mark Carney told Scotland's Herald newspaper the British economy was performing as the Bank had expected it to when it...

  • NEW YORK, Sept 28- Royal Bank of Scotland Group Plc will pay $1.1 billion to resolve claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration said. This case is included in the around $5 billion RBS has set aside to settle historic misconduct charges, including a long-running...

  • *East has axed 600 management jobs since taking helm. *Turnaround program felt across business- source. LONDON, Sept 28- Rolls-Royce boss Warren East has rebuilt confidence in the British engine-maker, but there are doubts among investors and industry experts about whether his slimmed-down group has the muscle to meet ambitious production and development...

  • BEIJING— Major Asian stock markets were lower Wednesday after investors were reassured by trade-friendly Hillary Clinton's performance in a U.S. presidential debate with rival Donald Trump. KEEPING SCORE: Tokyo's Nikkei 225 index fell 1.5 percent to 16,426.61 and Hong Kong's Hang Seng lost 0.6 percent to 23,440.18. ANALYST'S TAKE: "The strong performance by...

  • ST. LOUIS, United States- Federal Reserve Bank of St. Louis President James Bullard gives welcome remarks before the Community Banking in the 21st Century Conference hosted by the Federal Reserve Bank of St. Louis- 1415 GMT. ST. LOUIS, United States- Federal Reserve Bank of Chicago President Charles Evans speaks before the Community Banking in the 21st Century...

  • *Oil prices recede on uncertainty over OPEC output talk. NEW YORK, Sept 27- Stock prices across major markets rose on Tuesday, led by U.S. technology and consumer sectors following the presidential debate between Hillary Clinton and Donald Trump, while oil prices fell on fading hopes of agreement on limiting production. Clinton would be a safe pair of hands, that...

  • NEW YORK— The showdown between Hillary Clinton and Donald Trump was the most-watched presidential debate ever, with 84 million viewers. The Nielsen company said the viewership, over 13 different networks, toppled a record that had stood for 36 years. Social media was humming, too, with Nielsen saying there were some 17.1 million Twitter interactions involving...

  • The statement came in response to an earlier Wall Street Journal report that the U.S. Department of Justice is investigating whether Standard Chartered failed to stop possible bribery and other misconduct at MAXpower Group Pte Ltd, which builds and operates gas-fired power plants in southeast Asia. The allegations compound the legal woes of the bank, which...

  • If elected, Nicolas Sarkozy would offer Britain a chance to reverse its Brexit vote by negotiating a new treaty for the bloc with Germany, the FT reports.

  • *Oil prices recede on uncertainty over OPEC output talk. NEW YORK, Sept 27- Stock prices across major markets rose on Tuesday, led by gains in the U.S. technology and consumer sectors following the presidential debate between Hillary Clinton and Donald Trump, while oil prices fell on fading hopes of agreement on limiting production. Investors have fretted over...

  • NEW YORK, Sept 27- Oil fell 3 percent on Tuesday after Saudi Arabia said it did not expect to agree on output cuts at a meeting with other producers in the Algerian capital, although a production freeze deal was still possible later in the year. Saudi Energy Minister Khalid al-Falih told reporters in Algiers, where OPEC and other oil producers had gathered for the...

  • FRANKFURT, Sept 27- Deutsche Bank shares hit a record low on Tuesday and state-backed lender NordLB scrapped plans for a 500 million euro bond sale, underlining investor concern about the health of the financial industry in Europe's largest economy. The decision by NordLB to shelve the bond issue because of a lack of demand came a day after Deutsche, Germany's...

  • *STOXX 600 inches up 0.1 pct, down 7 pct year-to-date. LONDON, Sept 27 (Reuters)- European shares edged up on Tuesday at the end of a volatile day with Deutsche Bank picking up from record lows on hopes a U.S. demand for $14 billion to settle claims that it missold mortgage-backed securities could be lowered. Traders said the stock recovered thanks to remarks by a U.S....

  • LONDON, Sept 27- Standard Chartered said on Tuesday that it has referred allegations of impropriety at an Indonesian power plant company that the bank's private equity arm invested in to "the appropriate authorities". The Wall Street Journal earlier said that the bank faced an investigation by the U.S. Department of Justice into whether it failed to stop...