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LONDON, Oct 31- JPMorgan Chase& Co is suing the former boss of Bruno Iksil, the trader known as the London Whale, for the outsized derivatives positions he took that cost the bank $6.2 billion. He added that JPMorgan has so far failed to provide details of the evidence to support its allegations, which would enable Martin-Artajo to begin the process of his defence.
LONDON, Oct 31- European stocks dipped on Wednesday, led by heavyweight British oil and gas firm BG Group after it warned it would show no production growth next year. BG Group sank 13.7 percent in hefty trading volume of near sixteen times its 90- day daily average, accounting for nearly a third of the total index points fall.
*Stocks edge up as Wall Street reopens after two days. LONDON, Oct 31- Gold prices rose nearly 1 percent to their highest in a week on Wednesday as stock markets firmed as the New York financial markets re-opened, but were on track to end a four-month winning streak as October drew to a close.
*Arabica market under pressure from Brazil producer selling. LONDON, Oct 31- Arabica coffee futures slipped on Wednesday, pressured by selling from top grower Brazil, while dry weather was expected to aid the country's sugar harvest, weighing on sugar prices. Cocoa was near unchanged in both London and New York.
LONDON/ SINGAPORE, Oct 31- Singapore- listed commodities firm Noble Group Ltd denied it wanted to sell its agribusiness unit, after industry sources said it was looking for a buyer as an alternative to plans for a separate share listing. JPMorgan, Citigroup and Goldman Sachs were hired for the deal.
DETROIT, Oct 31- General Motors Co expects industry auto sales in Europe to fall 4 percent to 5 percent in 2013 from 2012, when sales were the weakest in nearly two decades. Steve Girsky, GM's Europe chief, said on a conference call on Wednesday that the company is not banking on market share gains of its Opel and Vauxhall brands to financially succeed.
The government said on Wednesday it had granted permission for the finance department to add eight new staff to a group created in 2011, after Switzerland promised to relax its traditional bank secrecy and do more to help stop tax evasion.
LONDON, Oct 31- OPEC oil output has risen slightly in October as extra supplies from Iraq, Angola and Libya offset a further decline in Iran to its lowest in two decades and disruptions in Nigeria, a Reuters survey found on Wednesday.
DETROIT, Oct 31- General Motors Co is targeting $500 million in fixed-cost savings between 2013 and 2015, and it plans to make further job cuts in Europe as it seeks to break even in the region by mid-decade, the automaker said on Wednesday.
LONDON, Oct 31- GlaxoSmithKline sales fell a bigger-than-expected 8 percent in the third quarter, hurt by continued pressure on drug prices in austerity-hit Europe and lower demand for some vaccines. It was the fourth consecutive quarter in which Britain's biggest drugmaker missed sales and earnings expectations.
*BG blames Brazil tie-ins, Egypt, North Sea, U.S. for shortfall. *Agrees $1.93 deal with China's CNOOC. LONDON, Oct 31- British oil and gas firm BG Group told investors to expect no output growth in 2013 due to project delays and other factors, prompting a dive in its highly rated share price that wiped out as much as a fifth of its value.
*U.S. stocks higher as Wall Street reopens after 2- day closure. LONDON, Oct 31- World shares and the euro edged up on Wednesday as a storm-hit Wall Street began trading after its two-day closure and investors looked ahead to economic data later in the week.
KETTERING, Ohio- President Barack Obama and Republican Mitt Romney briefly put aside their fierce battle for the White House on Tuesday, avoiding politics to focus on relief efforts after mammoth storm Sandy left millions of Americans struggling to recover.
*OPEC crude oil output rises slightly in October- survey. LONDON, Oct 31- Brent crude rose above $109 a barrel on Wednesday as the U.S. East Coast began to pick itself up from a massive storm, but gains were capped by concerns over the demand impact on the world's largest oil consumer.
LONDON, Oct 31- JPMorgan Chase& Co has filed a9519reuff. LONDON, Oct 31- JPMorgan Chase& Co has filed a suit in a British court against the former boss of Bruno Iksil, the trader known as the London Whale, for the outsized derivatives positions he took that cost the bank $6.2 billion in losses this year.
*Arabica market under pressure from Brazil producer selling. *Brazil dry weather could see sugar output revised higher. LONDON, Oct 31- Arabica coffee futures were steady on Wednesday as selling from top producer Brazil weighed and dealers monitored weather conditions in the U.S. after exchange stocks on the east coast were unscathed by stormy weather.
*Market awaits China's official PMI on Thursday. LONDON, Oct 31- London copper rose more than 1 percent as the dollar weakened against the euro on Wednesday, but the metal was still on track for a monthly loss on uncertainty about demand from top consumer China.
Oct 31- JPMorgan Chase& Co has filed suit against the former boss of Bruno Iksil, the trader known as the London Whale for the outsized derivatives positions he took that cost the bank $6.2 billion this year, according to a published report. JPMorgan executives said in July the bank would act to take back pay from traders and supervisors involved in the loss.
LONDON, Oct 31- Iran and Syria have arranged a gasoline-for-diesel swap, helping each other overcome international sanctions that have cut them off from fuel supplies needed to keep their economies afloat and support their armies.
LONDON, Oct 31- World shares and the euro edged up on Wednesday as investors braced for a storm-hit Wall Street to reopen after its two-day closure and looked ahead to economic data later in the week. Equity futures are higher, so people are expecting a positive opening,'' said Arne Lohmann Rasmussen, head of currency research at Danske Bank in Copenhagen.