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Europe Top News and Analysis United Kingdom

  • LONDON, Oct 10- Britain needs to create a market in which electricity storage can make money rather than adding costs to consumers if it is to successfully integrate renewables into the power grid, S&C Electric said on Wednesday.

  • LONDON, Oct 10- The UK's National Grid expects peak gas demand at 516 million cubic meters/day in the coming winter, 9 mcm/day above its preliminary forecast, it said in its outlook report on Wednesday.

  • LONDON, Oct 10- Raiffeisen Bank International announced plans to optimise its capital structure on Wednesday by asking investors to exchange an Upper Tier 2 note callable later this month into a new longer dated Tier 2 security.

  • LONDON, Oct 10- Britain needs to create a market in which electricity storage can make money rather than adding costs to consumers if it is to successfully integrate renewables into the power grid, S&C Electric said on Wednesday.

  • *Palladium suffers as China monthly auto sales weaken By Clare Hutchison. The International Monetary Fund's financial counsellor said on Wednesday that the fund was encouraged by Spain's attempts to reduce its budget deficit, dashing hopes that Madrid would soon apply for aid.

  • *CVC, Partners Group, H.I.G. Capital invest more in debt. When Swedish buyout firm EQT bought BSN Medical earlier this year, another private equity house, Switzerland's Partners Group, lent the bandage-making business it had previously co-owned a chunk of the 1.8 billion euros needed to finance the deal.

  • PARIS, Oct 10- Talks are still ongoing between Germany, France and the UK regarding a proposal to merge European aerospace and defence group EADS with Britain's BAE Systems, France's government spokeswoman said on Wednesday. A decision is to be announced later today, "Najat Vallaud-Belkacem told a weekly media briefing.

  • The decision is a boost to Direct Line, as the Royal Bank of Scotland- owned insurer battles to attract buyers to its listing on the London stock market.

  • BIRMINGHAM, England, Oct 10- Prime Minister David Cameron said on Wednesday it was taking longer than hoped to nurse Britain's economy back to growth and to reduce the budget deficit. "Our deficit reduction plan is not an alternative to a growth plan: it's the very foundation of our growth plan," Cameron told party activists in the English city of Birmingham.

  • SAN FRANCISCO, Oct 10- Data-center company IO has raised $90 million from venture-capital backers, the company said on Wednesday, illustrating the growing profile of enterprise-oriented investments compared to consumer companies in Silicon Valley.

  • *NATO says plans in place to defend Turkey from Syria. LONDON, Oct 10- Brent crude oil fell towards $114 a barrel but remained close to a three-week high on Wednesday, as worries over the security of Middle East supplies outweighed increasing evidence of slowing global economic growth.

  • London Financial District

    Britain is committed to making the most of Europe’s single market, for now, and still holds dear its “special relationship” with the U.S., Britain’s foreign minister William Hague told CNBC on Wednesday.

  • ISSAQUAH, Wash.-- Shoppers continue to head to Costco in search of deals, helping the wholesale club operator's fiscal fourth-quarter net income and revenue climb. Consumers have been drawn to stores like Costco, BJ's Wholesale Club and Sam's Club because they feel like they are getting bargains by purchasing items in bulk.

  • LONDON, Oct 10- Skywest Airlines Ltd:. *Skywest rpt traffic, measured by revenue passenger kilometres,. *Skywest charter traffic, which is measured by charter available seat.

  • LONDON, Oct 10- European shares fell for the third day running on Wednesday, pegged back by expectations of weak corporate results that may weigh on equity markets into next month.

  • Alcoa kicked off the latest round with a warning that demand for aluminum was lower than anticipated largely because of a slowdown in China. Alcoa's warning about global demand came as the International Monetary Fund lowered its global growth forecast for this year to 3.3 percent from the previous estimate of 3.5 percent.

  • LONDON/ MOSCOW, Oct 10- Russian president Vladimir Putin backs BP's plan to sell its 50 percent stake in TNK-BP to state oil group Rosneft, the Financial Times reported on Wednesday, citing an interview with Rosneft Chief Executive Igor Sechin.

  • LONDON, Oct 10- The UK's National Grid expects peak gas demand at 516 million cubic meters/day in the coming winter, 9 mcm/day above its preliminary forecast, it said in its outlook report on Wednesday.

  • LONDON, Oct 10- British insurers on Wednesday welcomed a court decision on the timing of a planned increase in personal injury awards, saying it would save them 300 million pounds.

  • *Doubts over German backing for $45 bln aerospace merger* UK Takeover Panel deadline at 1600 GMT* BAE shares down 1.6 pct By Sophie Sassard and Jason Neely LONDON, Oct 10- EADS and BAE Systems.