×

Europe Top News and Analysis United Kingdom

  • PARIS, Oct 10- French media group Lagardere, owner of 7.5 percent of EADS, on Wednesday renewed its support in the management of the Airbus maker after its merger talks with Britain's BAE Systems failed.

  • ZURICH, Oct 10- The following are some of the main factors expected to affect Swiss stocks on Wednesday:. Alleged rogue trader Kweku Adoboli exposed Swiss bank UBS to billions of dollars of hidden market risk for weeks on end, peaking at nearly $12 billion on Aug. 8 last year, a London court heard on Tuesday.

  • By Claire Ruckin and Tessa Walsh. LONDON, Oct 10- State-backed Irish Bank Resolution Corporation, the former Anglo Irish Bank, is considering selling a loan portfolio of up to 2 billion euros as part of its push to wind up its operations by 2020, banking sources said on Tuesday.

  • LONDON, Oct 10- The head of an internal UBS. probe into "rogue trader" Kweku Adoboli, accused of losing the Swiss bank $2.3 billion, did not consider whether others at the bank might have been involved, a London court heard on Wednesday. Adoboli, 32, is on trial at London's Southwark Crown Court accused of two charges of fraud and false accounting, which he denies.

  • BANGKOK/ SINGAPORE, October 10 Fitch Ratings Limited says Thailand's economic performance has continued to show resilience to global shocks but slower regional growth and increasing leverage in the corporate and bank sectors will constrain ratings.

  • STOCKHOLM, Oct 10- Sweden's financial watchdog said on Wednesday that banks should retain responsibility for setting Swedish interbank rates, the system for which is under review by the central bank in the wake of the rigging of its London equivalent.

  • By Sophie Sassard and Jason Neely LONDON, Oct 10- EADS and BAE Systems. The European companies have until 1600 GMT on Wednesday to declare their intentions and either scrap their merger or ask UK regulators for more time to finalise their plans to create the world's largest aerospace and arms group.

  • *FTSE 100 down 0.6 percent. LONDON, Oct 10- Global growth worries prodded Britain's top share index lower on Wednesday as a failed merger with a French peer hurt shares in defence and aviation firm BAE Systems.

  • The arbitrage of Forties to South Korea appears to have resumed. Shipment of Forties to South Korea has been encouraged by a free trade agreement during 2012 and it tends to support prices in the North Sea market, as well as Brent swaps and timespreads.

  • October 10- Following are terms and conditions. of a bond priced on Wednesday.

  • --U.K.- based roadside assistance provider RAC Finance Ltd. is adding a new GBP260 million term loan C facility to its capital structure. --The proceeds of this new facility, plus GBP30 million of cash on the balance sheet, will be used to repay GBP290 million of existing shareholder loans.

  • *Turkey warns Syria about cross-border shelling. Shelling along the Turkey- Syria border, hostility between Iran and the West and an impending Israeli election have reinforced fears about potential threats to oil supplies from the Middle East Gulf.

  • NEW YORK-- The price of oil rose slightly Wednesday on another encouraging sign for the U.S. economy. Benchmark crude gained 42 cents to $92.81 per barrel at midday in New York. The price of oil rose more than 3 percent Tuesday on concerns about supplies from the Middle East and the North Sea.

  • *Gazprom Neft still interested in Kurdistan- sources. NOVO-OGARYOVO, Russia, Oct 10- President Vladimir Putin lobbied Iraq's prime minister on Wednesday to support Russian energy investment, as the oil arm of gas export monopoly Gazprom pushes for a foothold in the semi-autonomous region of Kurdistan.

  • Traders also cited some remaining uncertainty following Tuesday's strike in the energy sector in France, which completely halted production at E.ON' s. "All of E.ON' s plants were off yesterday and as far as I know they were all available again today, but the strike notice still hasn't been lifted, and this is creating tensions," a Paris- based trader said.

  • Oct 10- Fitch Ratings has downgraded LCP Proudreed Plc's class A and B commercial mortgage-backed floating rate notes due 2016 and affirmed the two junior tranches as follows:. GBP239.3 class A downgraded to' AAsf' from' AAAsf'; Outlook Negative. GBP32.2m class B downgraded to' Asf' from' AAsf'; Outlook Negative.

  • There were large blocks of empty seats at some stadiums at the 2010 World Cup in South Africa and this year's European Championship in Poland and Ukraine. At the Leaders in Football conference on Wednesday, FIFA marketing director Thierry Weil said sponsors would have to name the people using tickets two or three days before matches in Brazil.

  • LONDON, Oct 10- Britain's financial watchdog said it was pressing ahead with a reform of how consumers are sold investment products from January, dashing industry hopes for last minute changes.

  • Italian Prime Minister Mario Monti's government unexpectedly cut the lowest income tax rates ahead of next year's national election, promising to meet the budget goals it has agreed with the European Union. Italy's Treasury sells 3.0 billion euros 3- month BOTs maturing Jan. 14, 2013 and 8.0 billion euros 12- month BOTs maturing Oct. 14, 2013.

  • --Clyde Russell is a Reuters market analyst. LAUNCESTON, Australia, Oct 10- The job losses and cost-cutting at Australia's major iron ore producers show they are taking to heart the adage to never let a good crisis go to waste.