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Europe Top News and Analysis United Kingdom

  • LONDON, Oct 9- Britain's Serious Fraud Office said blowing the whistle on crime won't guarantee freedom from prosecution as the fraud-buster seeks to restore its credibility after embarrassing setbacks. The SFO's new head David Green took up the reins in May and is refocusing the agency to pursue a more aggressive and targeted crime-fighting strategy.

  • UK small caps close down 0.1 percent, outperforming a 0.5 percent decline on both the blue chip FTSE 100 index and the mid-caps. Shares in Carclo add 6.2 percent in four times their average daily volumes after the British specialty plastics company forecast a "much stronger second half" for operating profit.

  • LONDON, Oct 9- The board of Britain's BAE Systems. met on Tuesday ahead of a pending deadline in talks over a proposed $45 billion merger with Airbus parent EADS, a source familiar with the talks told Reuters.

  • Treasury Secretary Timothy Geithner, Fed Chairman Ben Bernanke start a two-day visit to India. *India Power Minister to address press at Economic Editors Conference. *India oil minister and company officials at Economic Editors Conference.

  • JAKARTA, Oct 9- Sampoerna group, one of Indonesia's leading conglomerates, is leading a consortium of local investors that is in talks to buy a 50 percent stake in PT Fajar Bumi Sakti, a coal unit of Bumi Resources, for around $200 million, sources said.

  • LONDON, Oct 9- BP's billionaire partners in TNK-BP, Russia's third-biggest oil producer, said they could sell or list their 50 percent stake in the business, plunging the venture's plans into further confusion, the Financial Times reported on Tuesday.

  • TOKYO, Oct 9- Asian shares rose on Tuesday but were capped by concerns over global growth prospects, especially in the world's second-biggest economy China, and expected weak U.S. corporate earnings.

  • Reckitt Benckiser admitted that it had failed to disclose that its chief executive had pledged more than 7 million pounds of shares as collateral for a personal loan more than two years ago.

  • LONDON, Oct 9- Britain should defer spending cuts planned for next year if growth turns out to be much weaker than forecast, the International Monetary Fund said on Tuesday.

  • LONDON, Oct 9- Advertising on the internet and mobile phones in Britain generated a record-high 2.59 billion pounds in the first half of 2012, an industry survey showed on Tuesday.

  • MELBOURNE, Oct 9- Australian shares climbed 0.5 percent to a fresh 14- month high on Tuesday on a jump in iron ore prices that helped offset concerns about global economic growth. No. 3 iron ore miner Fortescue Metals Group. rose 3.6 percent and Northern Iron.

  • *Few banks earn their costs of capital. NEW YORK, Oct 8- Banks worldwide remain scarred by the 2007-2009 financial crisis and are years away from developing new business models that will produce sustainable profits, according to a new study. "It's the banks' game to lose," Toos Daruvala, a McKinsey director who helped write the report, told Reuters.

  • CARACAS, Venezuela-- During his re-election campaign, President Hugo Chavez promised to deepen the "21st century socialism" that has meant an ever-greater state role in the economy. Chavez faces immediate economic time bombs beginning with a rapidly expanding public debt, one of Latin America's highest inflation rates and a weakening currency.

  • MELBOURNE, Oct 9- Australian shares eked out a 0.1 percent gain early on Tuesday, with support from higher iron ore prices countered by concerns about the global growth outlook after the IMF cut its economic forecasts for the second time since April.

  • LONDON, Oct 9- British retail sales posted a solid rise last month as Britons splashed out on sturdy shoes and warm clothes, the British Retail Consortium said on Tuesday, raising the chances of a more lasting economic recovery.

  • LONDON, Oct 9- Scientists have found two distinct genetic "signatures" for prostate cancer that may help doctors predict which patients have aggressive tumours, and designed experimental blood tests to read those genetic signs like barcodes.

  • LONDON, Oct 8- The decline in British house prices eased unexpectedly in September and surveyors forecast that sales would pick up in the wake of government efforts to make mortgages more readily available, a survey showed on Tuesday.

  • LONDON, Oct 8- A man was arrested on Monday on suspicion of defacing a painting by the Russian-American artist Mark Rothko in London's Tate Modern museum. The 26- year-old was detained at about 9 p.m. in connection with a case of criminal damage, London's Metropolitan Police said.

  • By Matt Falloon and Guy Faulconbridge. BIRMINGHAM, England, Oct 8- Britain's Conservatives would slash government spending on welfare by 10 billion pounds a year if re-elected, finance minister George Osborne said on Monday, though he offered few ideas on how to bring the economy out of recession.

  • CANBERRA, Oct 9- Australian shares are likely to lack strong direction early on Tuesday, with support from higher iron ore prices and an improvement in China's services sector countered by losses in copper prices and concerns about the global growth outlook.