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Europe News United Kingdom

  • NEW YORK, Oct 31- U.S gasoline futures surged nearly 6 percent on Wednesday as the market braced for potentially long-term fuel supply disruptions at the East Coast's second-biggest refinery following Sandy, the massive storm that devastated the Jersey shore.

  • 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.

  • *Home Depot reopens 33 stores. At Home Depot, one of the biggest challenges during the height of the storm was constantly rerouting trucks filled with supplies as local officials ordered roads closed, said Doug Spiron, Emergency Response Captain at the No. 1 home improvement chain's command center. At the peak on Monday, 44 Home Depot stores were closed.

  • 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.

  • NEW YORK, Oct 31- The euro rose against the dollar on Wednesday and was headed for its third straight month of gains as U.S. stocks rose after a two-day closure for Hurricane Sandy, denting safe-haven demand for the U.S. currency. On Wall Street, the Dow and S&P 500 rose at the open as equity markets reopened following a damaging storm in the U.S.

  • 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.

  • KHARTOUM, Oct 31- After a Sudanese plane crashed at Khartoum's international airport last year, authorities didn't slow plans to build new airports and add more routes. They used the incident to shoot a video showing how safe flying in Sudan is, thanks to its skillful pilots.

  • *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.

  • By Harry Papachristou and George Georgiopoulos. ATHENS, Oct 31- The Greek government on Wednesay predicted worse-than-expected recession in 2013 and downgraded a rare positive note in its budget, highlighting the toll of repeated rounds of austerity.

  • 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.

  • *Market eyes China official PMI on Thursday. LONDON, Oct 31- London copper bounced more than 1 percent as the dollar weakened on Wednesday and short-term speculators switched to risk-on trading, but the metal was on track for a monthly loss as uncertainly persisted about demand from top consumer China.