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Europe Top News and Analysis United Kingdom


  • LONDON, Oct 1- Activist investor Knight Vinke Asset Management, a top 20 investor in Xstrata, has criticised the miner's non-executive directors for failing to demonstrate sufficient independence in its protracted merger talks with trader Glencore.

  • LONDON, Oct 1- London's Canary Wharf business district, home to global banks HSBC, Barclays and Citigroup, wants to attract entrepreneurs with a new centre for technology start-ups focused on financial services.

  • *UK manufacturing drops faster in Sept- PMI. LONDON, Oct 1- Lending to British consumers fell in August and manufacturing activity shrank in September, weighing on prospects of a sustainable economic recovery in the coming months.

  • MOVES-StanChart, BlackRock, Lazard, Barclays Monday, 1 Oct 2012 | 10:14 AM ET

    The bank named Tom Willett as head of mergers and acquisitions, Europe. He will be based in London. Willett joins from Royal Bank of Scotland, where most recently he was chairman of corporate finance for Europe, the Middle East and Africa.

  • Swiss referendum on tax deals unlikely to go ahead Monday, 1 Oct 2012 | 10:11 AM ET

    *Austria, Britain deals can come into force in January. ZURICH, Oct 1- Deals with Germany, Britain and Austria to tax secret Swiss bank accounts appear unlikely to go to a referendum in Switzerland after opponents of the plan failed to submit enough signatures.

  • European shares extend gains after U.S. ISM data Monday, 1 Oct 2012 | 10:06 AM ET

    LONDON, Oct 1- European shares extended their gains, with a leading index reaching a fresh intraday high, after data showed that the U.S. manufacturing sector expanded in September.

  • LONDON, Oct 1- The British government would be prepared to use its' golden share' to veto the proposed $45 billion merger between EADS and BAE Systems if the terms were not right for Britain, a defence ministry source said. Priorities for the British government include jobs and future security for BAE plants in Britain.

  • By Lefteris Papadimas and Dina Kyriakidou. ATHENS, Oct 1- Greece will bring forward painful budget cuts to end a decade of primary deficits while grappling with a sixth year of recession, according to a 2013 budget draft aimed at satisfying international lenders.

  • BoE says "unrealistic" to see FLS benefit already Monday, 1 Oct 2012 | 9:38 AM ET

    LONDON, Oct 1- The Bank of England said it would be "unrealistic" to expect to see the benefit of its Funding for Lending Scheme in August credit data it published earlier on Monday.

  • BRIEF-Aegis acquires Finland's Irokeesi Monday, 1 Oct 2012 | 9:36 AM ET

    LONDON, Oct 1- Aegis Group PLC:. *Acquisition of irokeesi in Finland. *Irokeesi's gross assets as at 31 December 2011 were E 0.9 million.

  • *Three-month Euribor rate rises for first time in 3 months. LONDON, Oct 1- Key Euribor interbank lending rates rose on Monday for the first time in three months as expectations that the European Central Bank could cut interest rates this week are fading.

  • NEW DELHI, Oct 1- Labour unrest forced India's Kingfisher Airlines Ltd to cancel all its flights on Monday in the latest blow for the ailing carrier as it scrambles to find an investor, sending its stock down by its maximum daily limit.

  • Europe Power-Curve eases with energy markets Monday, 1 Oct 2012 | 9:32 AM ET

    *Spot mixed with Germany up on low wind, France lower. FRANKFURT, Oct 1- Prices on Europe's power curve eased on Monday along with oil, coal, gas, and carbon as bearish supply-demand fundamentals dragged markets down. In wholesale power forwards, German annual baseload supply for 2013 shed 15 cents to 47.75 euros.

  • FSA set to clamp down on 'back-door' listings Monday, 1 Oct 2012 | 9:30 AM ET

    The United Kingdom Listing Authority, which operates under the Financial Services Authority, plans to outline proposals to change British listing rules following a consultation launched in January this year.

  • *Euro zone slipping into recession, China still slowing. NEW YORK, Oct 1- Wall Street was set to start the last quarter on a higher note on Monday even as data continued to point to a slowdown in global manufacturing. The rise in futures points to a rebound from the S&P 500 index's biggest weekly drop since June.

  • *Acteon valued at 800- 900 mln stg- sources. LONDON, Oct 1- Private equity group First Reserve has sold UK offshore oil and gas services group Acteon to rival KKR, one of two European deals on Monday to fan hopes that private equity firms can still make profitable sales.

  • JOHANNESBURG, Oct 1- Anglo American Plc's South African unit will face a hearing next year to determine if it is liable for miners who contracted the lung disease silicosis while working in its gold shafts, lawyers for the plaintiffs said on Monday.

  • By Lefteris Papadimas and Dina Kyriakidou. ATHENS, Oct 1- Greece will bring forward painful budget cuts to end a decade of primary deficits while grappling with a sixth year of recession, according to a 2013 budget draft aimed at satisfying international lenders.

  • Molson Coors combines Europe businesses Monday, 1 Oct 2012 | 8:49 AM ET

    Oct 1- Molson Coors Brewing Co said on Monday that it was combining its businesses in Britain and Ireland with those in Central Europe, and it promoted Mark Hunter to run the new operation. It operates in countries including the Czech Republic, Romania, Croatia and Hungary.

  • Basel slams EU implementation of bank capital rules Monday, 1 Oct 2012 | 8:45 AM ET

    *EU says Basel study lacks rigorous evidence. *Basel says Japan compliant overall with Basel III. *Basel says U.S. rules differ over securitisation.