The Brexit vote will cost the U.K. up to $338 billion in lost M&A by 2020 and the global economy up to $1.6 trillion, Baker & McKenzie said on Monday. » Read More
NEW YORK-- A strong warning from the World Bank that growth in Asia may slow further dragged the price of oil Monday to its lowest close in two months. The World Bank signaled the possibility of a "more pronounced slowdown" in China, the world's second largest economy after the United States.
The U.K.s triple-A credit rating may be in doubt but finance minister George Osborne has told CNBC that the countrys austerity drive has attracted overseas investment and that he will continue to tackle the debt problems head on.
LONDON, Oct 8- A UBS analyst who queried deals booked by accused fraudster Kweku Adoboli thought his trading desk was "very messy" but did not suspect anything illegal, a London court heard on Monday. Adoboli, 32, is on trial at Southwark Crown Court accused of fraud and false accounting that cost UBS $2.3 billion.
NEW YORK, Oct 8- U.S. stocks fell on Monday after the World Bank cut its growth forecasts for East Asia, underscoring concerns about the global economic climate and corporate profits on the cusp of the kickoff of the quarterly earnings season. The Nasdaq Composite Index was down 16.92 points, or 0.54 percent, at 3,119.27.
*Oil dips below $112 as World Bank cuts Asian growth outlook. LONDON, Oct 8- Stocks and oil prices fell on Monday after the World Bank cut its growth forecast for China, adding to concerns about the outlook for the global economy and corporate earnings.
LONDON, Oct 8- The European Stability Mechanism has appointed Deutsche Bank, RBS and SG CIB to arrange investor meetings across Europe in early November, bank sources said. The roadshow will take place in London, Frankfurt and Paris, with sources saying the eurozone sovereign rescue fund will target its first bond offering in early January.
LONDON, Oct 8- Aseana Properties Ltd:. *Decided to consider shareholder feedback, review reorganisation proposals. to take place in December 2012.
MOSCOW, Oct 8- MegaFon, Russia's second-largest mobile phone operator, will start pre-marketing for its London initial public offering on Tuesday, several financial market sources said.
*Critics have accused BBC of cover-up. LONDON, Oct 8- Britain's BBC on Monday apologised to a group of women who allege that one of the state-funded broadcaster's top entertainers sexually abused them decades ago, a scandal that has raised questions about the BBC's judgment then and now.
LONDON, Oct 8- Britain is in danger of suffering a long-term loss of liquefied natural gas supply as top exporter Qatar sends only left-over short-term deliveries to the UK while more and more of its LNG goes to higher paying Asian customers. Analysts and British energy companies say the strategy rewards Qatar but puts Britain at a significant disadvantage.
STOCKHOLM-- British researcher John Gurdon and Shinya Yamanaka of Japan won this year's Nobel Prize in physiology or medicine on Monday for discovering that mature, specialized cells of the body can be reprogrammed into stem cells _ a discovery that scientists hope to turn into new treatments.
LONDON, Oct 8- British money markets may be pricing in too high a chance of an interest rate cut in coming months with the Bank of England expected to prefer other easing tools such as expanding its asset purchase programme.
*World Bank says China economic slowdown could get worse. The World Bank on Monday cut its economic growth forecasts for East Asia and the Pacific region, home to two of the world's largest oil consumers, and said there was a risk the slowdown in China could be deeper and more prolonged than expected.
LONDON-- The deadline for applications to be the next head of the Bank of England, the U.K.' s top monetary authority, closed Monday with one of the leading contenders announcing he had decided not to pursue the position.
LONDON-- A vandal scrawled graffiti on a mural by modern American master Mark Rothko at London's Tate Modern on Sunday. According to an online manifesto, Yellowism is an artistic movement run by two people named Vladimir Umanets and Marcin Lodyga. In 2000, two Chinese performance artists attempted to urinate on Marcel Duchamp's urinal sculpture "Fountain."
LONDON, Oct 8- Iraqi Kurdistan's leading oil producer, Genel Energy, said it would keep crude exports flowing after the Kurdistan Regional Government finally received an initial payment from Baghdad. "We won't cut exports now," Genel Energy President Mehmet Sepil told Reuters. "
MOSCOW, Oct 8- MegaFon, Russia's second-largest mobile phone operator, will start pre-marketing its London initial public offering on Tuesday, several financial market sources said on Monday. A separate source said a statement was expected to announce the IPO in the coming days.
By early afternoon in Europe, benchmark crude for November delivery was down $1.31 to $88.57 a barrel in electronic trading on the New York Mercantile Exchange. The widening spread between the Nymex and Brent contracts, now above $22, was attributed to higher U.S. output and supply risks in Europe and the Middle East.
*FTSE 100 index falls 0.7 percent. Analysts said the FTSE 100. The World Bank also said there was a risk the slowdown in the world's biggest metals consumer China could worsen, triggering a sharp sell-off in UK mining stocks.
*Terra Firma joins with China Development Bank- source. LONDON, Oct 8- Terra Firma, the private equity firm led by high-profile dealmaker Guy Hands, is planning a multi-billion dollar fund with a Chinese bank to invest in renewable energy, underscoring its faith in green power despite waning enthusiasm in some markets.