LONDON, Oct 2- Glencore has formally notified the European Commission of its $33 billion plan to take over Xstrata, sources familiar with the matter told Reuters on Tuesday, setting the European regulatory clock ticking on the deal.
LONDON, Oct 2- United Drug PLC:. Barry Mcgrane, is to step down from his role at the end. *Will then assume a non-executive director position until the agm in 2014.
SYDNEY, Oct 2- Australia's central bank cuts interest rates by a quarter point to a three-year trough of 3.25 percent on Tuesday, saying a darker global background, falling export prices and a high currency had all dimmed the economic outlook at home.
LONDON, Oct 2- Five private equity firms have made it through to the final round of bidding for Dutch trust and corporate management business Intertrust Group, which is being sold by private equity firm Waterland, banking sources said on Tuesday.
DAKAR, Oct 2- U.K. energy firm Bowleven said on Tuesday that production from its Etinde oil project in Cameroon is expected to start up in 2015, not 2013.. The Chairman of the company's Cameroon unit, EurOil, had said on Sept. 24 in Yaounde that the production phase of the project would start next year.
Benchmark oil rose 13 cents Tuesday to $92.61 per barrel in New York. Brent crude, which is used to price international varieties of oil, fell 29 cents to $111.90 per barrel in London. At the pump, the national average for gasoline was unchanged at $3.78 per gallon, according to AAA, Wright Express and the Oil Price Information Service.
*Forties bid up to dated plus 30 cents. LONDON, Oct 2- North Sea Forties crude differentials drew further support on Tuesday from firmer bids and additional supply glitches to October-loading cargoes. *Total bid for an Oct 25-29 Forties at datd plus 30 cents and also bid for an Oct. 18-24 Forties at dated plus 30 cents.
LONDON, Oct 2- Euro zone money markets have shown tentative signs of recovery in recent weeks along with improving appetite for risk in the region, but even the optimists say the crisis will have to be past before interbank lending is back to normal.
By Dasha Afanasieva and Kirstin Ridley. LONDON, Oct 2- A former UBS trader wept in a London dock on Tuesday after reading an email in which "rogue trader" Kweku Adoboli, a former colleague accused of fraud, admitted to unauthorised trades that risked undermining the Swiss bank and colleagues.
JOHANNESBURG, Oct 2- Petra Diamonds said on Tuesday that a "limited number" of workers at its Kimberley Underground mine had gone on strike, although production had not been affected.
LONDON, Oct 2- RPC Group PLC:. *Ron Marsh, CEO, has notified board of his intention to retire with effect. *Pim vervaat, Finance director, will assume the role of chief executive from.
The country's largest fertilizer company, Mosaic, said weak demand from China and India weighed on its profits. Mosaic, Dupont and stocks of other companies in the materials industry fell. Shortly before noon, the Dow Jones industrial average was down 75 points at 13,439. Dupont led the Dow lower, sinking 1.8 percent, or 84 cents, to $49.52.
*Banks lower as UBS cuts ratings. *Babcock climbs after strong first-half. LONDON, Oct 2- Britain's top share index continued its choppy trend and was pulled marginally lower on Tuesday, as weakness in banks and miners overpowered results-related gains for companies such as Babcock and Tesco.
*Acquires LH Group, a UK- based provider of maintenance, overhaul services. *Deal for about $48 million. *Says expects the transaction to be accretive in the first year.
LONDON, Oct 2- Private equity firm Carlyle is set to hire banks to refinance UK roadside rescue business RAC's debt to pay itself a 260 million pound dividend, people familiar with the situation said on Tuesday.
This is particularly true in the euro area, where the European Central Bank seems to go ever further to support bank liquidity. Reuters parent company Thomson Reuters Corp collects information from banks and uses it to calculate Libor rates according to specifications drawn up by lobby group the British Bankers Association, which will no longer be involved.
A new hurdle to the 27 billion pound tie-up between BAE Systems and EADS was put up by the French on Tuesday as the country's largest industrial shareholder in EADS said that the 60-40 merger terms were unsatisfactory. Stephen Hester, chief executive of Royal Bank of Scotland, has admitted the institution is a "British poster child for what went wrong in banking".
Volcker, architect of the "Volcker Rule" governing so-called proprietary trading by U.S. investment banks, will appear before the commission on Oct. 17 to compare and contrast banking behaviour and practices between Britain and the United States.
MANCHESTER, England, Oct 2- British opposition leader Ed Miliband will cast himself as a humble man of the people on Tuesday in a bid to underscore Prime Minister David Cameron's image as a privileged' posh boy' whose government is out of touch with voters.
LONDON, Oct 2- Following are key findings from the BCC's quarterly economic survey. For the full story, click on 2012 2011 SERVICES Q3 Q2 Q1 Q4 Q3 Home sales 1 10 10 2 0 Home orders -2 5 7 -9 -3 Export sales 19 24 16 10 4 Export orders 15 19 12 -1 -2 Employment expectations 9 12 11 2 6. Investment- plant and mac. 3 5 5 2 1.