Europe Top News and Analysis United Kingdom

More

  • LONDON, April 29- Royal Bank of Scotland reported a sharp rise in losses in the first quarter on Friday and cautioned on the timing of a return to dividend payouts as lower income, restructuring costs and sluggish asset sales underscored the challenges still facing the lender. The Edinburgh- based bank, which was rescued in a 46 billion-pound taxpayer funded...

  • LONDON— Anglo-Swedish drugmaker AstraZeneca says first-quarter earnings fell 12 percent as it announced plans to cut costs so it can devote more resources to cancer drugs. AstraZeneca said Friday that income increased to $646 million from $550 million. AstraZeneca also says it plans to cuts costs by about $1.1 billion over the next two years as the company...

  • RBS is an interesting recovery story: Analyst

    Gildas Surry, senior analyst at Axiom Alternative Investments, talks about why an investor would consider buying RBS stocks.

  • LONDON— Royal Bank of Scotland says its net loss widened in the first quarter as the taxpayer-owned bank made its final 1.2 billion-pound payment to the U.K. Treasury as part of a deal to give the government first crack at any profits. The bank, which is 73- percent taxpayer-owned, on Friday reported a net loss of 968 million pounds, compared with 459 million pounds...

  • Biotech drugmaker Gilead Sciences said its results were hurt by big discounts and rebates on its costly hepatitis C medicines, and its stock lost $8.52, or 8.8 percent, to $88.48. Rival biotech giant Amgen reported relatively solid results, but fell $2.59, or 1.6 percent, to $157.97. Health insurer Molina Healthcare slashed its full-year guidance because of...

  • April 29- Embattled Indian tycoon Vijay Mallya wants a "reasonable" settlement with creditor banks to his defunct airline, he said in an interview in London published by the Financial Times on Friday. Mallya, 60, flew first class from Delhi to London on March 2 at a time when the Indian government and mainly state-controlled banks are trying to recover $1.4...

  • LONDON/ TRIPOLI, April 28- Libya's National Oil Corporation has ambitious plans to restore output to pre-2011 levels after years of violence and disruption, officials said. Oil output is now less than a quarter of the 1.6 million barrels per day Libya pumped before Muammar Gaddafi fell in 2011, and the National Oil Corporation in Tripoli hopes to ramp it up...

  • April 28- A lawsuit accusing PricewaterhouseCoopers LLP of violating U.S. discrimination law by hiring a "stunningly low" number of people over the age of 40 to maintain a youthful culture has been filed in San Francisco. The lawsuit, filed on Wednesday in federal court, said the London- based accounting company does virtually all of its recruiting for...

  • NEW YORK, April 28- Oil companies and speculators have piled into complex, high-risk spread options, betting that oil prices will extend their recent rally on tightening supplies and resurgent exports, the latest sign of growing optimism in the world's top energy market. Last week, nationwide stocks touched a new record while Cushing had the biggest build in...

  • LONDON, April 28- An Indian-flagged oil tanker is returning to Libya, the North African country's rival oil corporation said on Thursday, after its failed first attempt to export crude oil led to the ship being blacklisted by the United Nations Security Council. The Distya Ameya tanker is heading to the western Libyan port of Zawiya, said Nagi al-Maghrabi,...

  • NEW YORK, April 28- The U.S. dollar and euro were on track to post their biggest daily losses against the yen in more than five years on Thursday in the wake of the Bank of Japan's surprise decision not to further ease monetary policy. The dollar was last down more than 3 percent against the yen, at 108.06 yen, near a 10- day low of 107.93 yen touched earlier and ushering in...

  • CHICAGO, April 28- Two futures traders in the United Arab Emirates banned from U.S. commodity markets last month for the disruptive practice known as "spoofing" faced additional penalties from CME Group Inc on Thursday. The Chicago- based futures exchange operator fined traders Nasim Salim $100,000 and Heet Khara $90,000, and permanently barred both from its...

  • CHICAGO, April 28- U.S. corn futures rose 1.9 percent on Thursday, with concerns about crops in South America spurring export demand for U.S. supplies, traders said. "The exports were a big wake-up call," said Mark Schultz, chief analyst at Northstar Commodity Investment Co.. Chicago Board of Trade May corn futures settled up 6-1/ 4 cents at $3.87 a bushel.

  • NEW DELHI, April 28- India has instructed an Indian-flagged oil tanker that has been blacklisted by the U.N. not to discharge its cargo of crude oil from Libya's rival eastern government and to await instructions from the United Nations, a senior Indian government official said on Thursday. The tanker, the Distya Ameya, is carrying 650,000 barrels of crude on...

  • NEW YORK, April 28- Oil markets jumped nearly 2 percent on Thursday, scaling 2016 highs for a third straight day as a weaker dollar had investors shrugging off record high U.S. crude inventories and relentless pumping by major producers. Brent futures weere up 87 cents at $48.05 by 1:48 p.m. EDT. U.S. crude's West Texas Intermediate futures rose 70 cents to $46.03,...

  • Democratic U.S. presidential candidate Hillary Clinton takes the stage at her five state primary night rally in Philadelphia, Pennsylvania, U.S., April 26, 2016.

    Investors should stop the doom and gloom, says Debra Silversmith. Election year markets generally go higher.

  • LONDON, April 28- Anglo American has agreed to sell its niobium and phosphates businesses in Brazil to China Molybdenum for $1.5 billion in cash, it said on Thursday, as it seeks to cut debt in a radical restructuring of the global mining group. Anglo American shares rose more than 8 percent, outperforming the sector as analysts said the price was higher than...

  • *But Deutsche Bank rises on surprise profit. LONDON/ MILAN, April 28- European shares were mixed on Thursday, with initial weakness after the Bank of Japan unexpectedly held off from expanding monetary stimulus later counteracted by strength on Wall Street. The pan-European FTSEurofirst 300 index, which hit a three-month high last week, closed up 0.2 percent at...

  • Concern about crops in South America sparked interest in U.S. supplies from overseas buyers, who typically source the bulk of their corn and soybeans needs from Brazil and Argentina at this time of year. Chicago Board of Trade front-month wheat and corn futures each jumped more than 2 percent while soybeans briefly hit their highest since August.

  • LONDON— Christie's is selling a Lucian Freud painting of his pregnant daughter as part of a sale representing centuries of British portraiture. Other lots include Joshua Reynolds' 1778 "Portrait of Lucy Long," valued at up to 3 million pounds and Lord Leighton's "Golden Hours" from 1864. The works will be exhibited in London, Hong Kong and New York before the sale.