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Europe News United Kingdom

  • LONDON, Oct 10- British Defence Minister Philip Hammond said on Wednesday a decision on a proposed merger between EADS and BAE was in the companies hands and that the government was awaiting their verdict. "We are waiting for an announcement from the companies- the companies are dealing with it now," Hammond told Reuters when asked about the proposed merger.

  • ISTANBUL, Oct 10- Ahead of its annual ratings review of Turkey, Fitch said the country was making good progress in dealing with the financial crisis, comments which helped lift the Turkish lira from an earlier 1- month low.

  • LONDON, Oct 10- Fitch Ratings warned Hungary on Wednesday not to go without International Monetary Fund support after months of wrangling which has failed to resolve the future of talks on a financing deal. "Recently there has been some talk of Hungary going it alone, that would bother us.

  • *Alcoa beats expectations but cautions of slowdown. *Yum Brands defies China sluggish growth, raises outlook.

  • GRAPHIC on MSCI emerging index performance 2012:. GRAPHIC on MSCI emerging Europe performance 2012:. GRAPHIC on MSCI frontier index performance 2012,.

  • PARIS, Oct 10- Talks over a merger between EADS and BAE Systems were blocked on Wednesday a few hours ahead of a deadline and only intervention by the French, German and British leaders could break the deadlock, sources familiar with the negotiations said.

  • *FTSE 100 down 0.4 percent. *US metals firm Alcoa starts earnings on downbeat note. *Smith& Nephew falls on earnings worries.

  • 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.