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Europe Top News and Analysis United Kingdom

  • *Benedict Silverman selling important art collection. LONDON, Oct 8- A U.S. art collector whose 20th century paintings from Germany and Austria are valued at more than 100 million pounds has attacked what he called "trophy hunters" who have driven prices higher and created a bubble in the market.

  • PARIS, Oct 8- France must be given the option of buying shares from media group Lagardere as part of a proposed merger between EADS and BAE, a French government source said on Monday. "If France does not even have the possibility to consider buying the stake which Lagardere wants to sell, then for us it is not doable," the source said.

  • LONDON, Oct 8- Concerns of a collateral shortfall may have been overplayed as the universe of AAA/AA bonds growing by around USD1trn per year according to analysts at JP Morgan. The IMF predicts that USD9trn of AAA/AA assets will disappear from the market by 2016 as further sovereign issuers suffer downgrades.

  • LONDON, Oct 8- Carillion PLC:. *Has been named as the preferred bidder for the Birmingham energy savers. *The eight-year bes contract is estimated to be initially worth up to  £600.

  • LONDON, Oct 8- A UBS trader raised the issue of a "slush account" in an electronic chat with accused fraudster Kweku Adoboli in March 2011, a London court heard on Monday. Appearing as a witness at Adoboli's criminal trial, trader Darren Bailey said he was "genuinely shocked" by the comment he himself had made and did not know what he was referring to at the time.

  • LONDON, Oct 8- West African crude oil differentials slipped on Monday as a glut of unsold cargoes for loading in November showed that a range of grades were out of favour. Demand from China was reported to be lower, in part due to refinery outages and the closure of three Sinopec plants due to environmental problems.

  • LONDON/ PARIS, Oct 8- A group of seven multinational companies has told the British government that they could halt their investment in the UK green energy sector if state support for renewable energy wanes.

  • LONDON, Oct 8- Richland Resources Ltd:. *Tanzania ministry has informed co it will not provide support to mining. *Ministry informed co it will not provide support until claim for unpaid.

  • AKTAU, Kazakhstan, Oct 8- An outspoken critic of Kazakhstan's veteran president was jailed for seven-and-a-half years on Monday for colluding with a fugitive billionaire in a failed attempt to rally oil workers to bring down the government.

  • Morgan Stanley's Qatar head Khalid al-Subeai resigned last week to join the investment banking division of unlisted Barwa Bank, while Goldman's Qatar Chief Executive Tamim al-Kawari has joined investment bank QInvest, part-owned by Qatar Islamic Bank, as deputy CEO, according to several sources aware of the matter.

  • MOSCOW, Oct 8- Gazprom on Monday launched the second line of the Nord Stream pipeline which brings Russian gas to Germany via the bed of the Baltic Sea, but actual gas volumes remained unchanged due to lack of sufficient growth in demand.

  • 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.

  • LONDON, Oct 8- Dexion Equity Alternative Ltd:. *Alt.- recommended proposals for a voluntary winding up. *Believes it is appropriate to proceed directly with members' voluntary.

  • By Marc Jones and Aimee Donnellan. LONDON, Oct 8- The European Central Bank will end its second covered bond purchase programme at the start of November as planned, euro zone monetary sources say, despite having spent less than half the money set aside for it.

  • U.S. stocks declined after the World Bank cut growth forecasts for East Asia, highlighting concerns about the global economic climate and corporate profits on the cusp of the quarterly earnings season. **GREEN DOT CORP, $10.55, down 17.9 pct. **NETSPEND HOLDINGS INC, $10.00, down 6.98 pct.

  • *Marathon to purchase refinery for $598 million. Oct 8- Marathon Petroleum Corp struck a deal to buy BP's Texas City refinery and related infrastructure for up to $2.5 billion, a purchase that would make Marathon the fourth-largest refiner in the United States.

  • Oct 8- Vringo Infrastructure Inc, a unit of mobile phone software maker Vringo Inc, filed a patent infringement lawsuit against the UK unit of Chinese telecommunications equipment maker ZTE Corp, driving up Vringo's shares by as much as 21 percent in early trading.

  • LONDON, Oct 8- The European Stability Mechanism has appointed Deutsche Bank, RBS and SG CIB to arrange investor meetings across Europe in early November, bank sources said. The roadshow will take place in London, Frankfurt and Paris, with sources saying the eurozone sovereign rescue fund will target its first bond offering for early January.

  • *Britain to adopt similar moves sooner. BRUSSELS, Oct 8- The European Commission may draw up rules for rescuing and closing down failing clearing houses and insurers, as regulators across the world seek to prevent collapsed businesses from wreaking havoc in financial markets.

  • OSLO, Oct 8- Output from the Royal Dutch Shell- operated Nyhamna gas processing plant in Norway would be reduced on Tuesday, after it experience an unplanned outage on Monday, the gas system operator Gassco said. The plant, which processes gas from the giant offshore Ormen Lange gas field before it is shipped to Britain, was expected to restart by 2000 GMT on Monday.