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Europe News London

  • LONDON, Nov 21- British government borrowing unexpectedly grew last month, underscoring finance minister Philip Hammond's challenge as he weighs calls for more spending in his budget on Wednesday against the prospect of weaker economic growth ahead. The deficit, excluding state-run banks, stood at 8.0 billion pounds, up 6.9 percent compared with October...

  • LONDON, Nov 21- Britain's Brexit minister David Davis said on Tuesday that reaching a deal with the European Union was the most likely outcome of talks, but added that the British government was prepared for no agreement with the bloc. "Reaching a deal with the European Union is not only far and away the most likely outcome, it's also the best outcome for our country,"...

  • Turkey imports almost all of its energy needs. The Turkish government spokesman on Monday described the case as a "clear plot against Turkey" that lacks any legal basis. The foreign investors upon whom Turkey relies to finance its big budget and current account deficits also have deep concerns about political pressure on the central bank.

  • *CME Group to launch WTI/ Dubai crude futures spreads. Analysts said Brent was expected to fluctuate in a narrow range, between $61 and $63, as the market awaited the outcome of the Organization of the Petroleum Exporting Countries' meeting on Nov. 30. OPEC, together with a number of non- OPEC producers led by Russia, has been restraining output this year in an effort to...

  • Turkey imports almost all of its energy needs. The Turkish government spokesman on Monday described the case as a "clear plot against Turkey" that lacks any legal basis. The foreign investors upon whom Turkey relies to finance its big budget and current account deficits also have deep concerns about political pressure on the central bank.

  • SYDNEY/ LONDON, Nov 21- Oil exploration company Cairn Energy is in talks with BP to sell a 30 percent stake in its deepwater SNE field offshore Senegal, which could be valued at around $600 million, banking sources and a Senegal oil ministry source said. Oil majors have been increasingly homing in on the waters off Senegal, as well as neighbors Mauritania and Gambia,...

  • *Offer unchanged at 3,660 yen per share. TOKYO, Nov 21- Bain Capital LLC on Tuesday said its $1.35 billion offer for Asatsu-DK Inc had been accepted by the Japanese company's 25 percent shareholder WPP, after the parties floated the idea of WPP reinvesting at a later date. Led by the high-profile businessman Martin Sorrell, WPP clashed with the U.S. private equity...

  • LONDON, Nov 21- Britain's Brexit minister David Davis said on Tuesday that reaching a deal with the European Union was the most likely outcome of talks, but added that the British government was prepared for no agreement with the bloc. "Reaching a deal with the European Union is not only far and away the most likely outcome, it's also the best outcome for our country,"...

  • LONDON, Nov 21- British ship insurer Standard Club is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the second of these specialised providers to opt for Ireland. "We have concluded that Dublin offers the best location to serve European members post-Brexit," Standard Club's chief...

  • TOKYO, Nov 21- Japan Tobacco Inc will seek acquisition opportunities overseas, said Masamichi Terabatake who is slated to become its CEO in January, to secure growth as the rise of vaping rivals snuffs out the company's cigarette sales at home. The 51- year-old executive, who will replace Mitsuomi Koizumi as CEO, is currently deputy CEO at JT International, a...

  • LONDON— Britain is reportedly planning to offer more money to settle its bill with the European Union in a bid to unblock stalled Brexit negotiations— but only if the EU agrees to start discussing a future free-trade deal. With Britain due to leave the EU in March 2019, U.K. leaders are keen to start work on a free-trade deal with the bloc. EU chief negotiator Michel...

  • *FTSE 100 down flat, mid caps down 0.1 pct. LONDON, Nov 21- Britain's FTSE 100 blue chip index was flat early on Tuesday amidst a flurry of company updates, with easyJet the top performer while quality testing firm Intertek and caterer Compass Group fell after giving updates. The FTSE held at 7,387.96 points by 0947 GMT following a weak start, while mid caps declined...

  • *CME Group to launch WTI/ Dubai crude futures spreads. Analysts said Brent was expected to fluctuate in a narrow range, between $61 and $63, as the market awaited the outcome of the Organization of the Petroleum Exporting Countries' meeting on Nov. 30. OPEC, together with a number of non- OPEC producers led by Russia, has been restraining output this year in an effort to...

  • LONDON, Nov 21- European stocks opened lower on Tuesday and the euro hit an eight-day low against sterling as a governing crisis in Germany weighed on markets. German President Frank-Walter Steinmeier said Germany was facing its worst governing crisis in the 68- year history of its post-World War Two democracy and pressed all parties in parliament "to serve...

  • *Offer unchanged at 3,660 yen per share. TOKYO, Nov 21- Bain Capital LLC on Tuesday said its $1.35 billion tender offer for advertiser Asatsu-DK Inc has been accepted by ADK's 25 percent shareholder and partner WPP PLC, in an about-face for WPP that heralds an end to a soured relationship. London- based advertiser WPP agreed to sell its ADK shares for 3,660 yen each,...

  • LONDON, Nov 21- The gap between French and German borrowing costs moved to its tightest level since before the euro zone debt crisis of 2010-2012, as growing optimism over the future of the bloc overwhelms concerns over the political stalemate in Germany. "All those shorting France have slowly been squeezed out and no-one is willing to take the opposite...

  • *Frankfurt residents fear bankers will worsen property squeeze. FRANKFURT, Nov 20- The prospect of bankers pouring into Frankfurt from post-Brexit Britain has worried local residents anxious about the effect on an already dire housing shortage but also energised leftist groups looking to advance their anti-capitalist ideology. The majority of banks,...

  • SYDNEY, Nov 21- China aluminium futures fell sharply on Tuesday to their lowest in more than three months, dragged down by signs of robust global production. *ALUMINIUM DROP: The most-traded aluminium contract on the Shanghai Futures Exchange lost 2.45 percent to close at 14,910 yuan, its weakest since early August. *ALUMINIUM OUTPUT: Global production for...

  • SYDNEY, Nov 21- China aluminum futures fell sharply on Tuesday to their lowest in more than three months, dragged down by signs of robust global production. *ALUMINIUM DROP: The most-traded aluminum contract on the Shanghai Futures Exchange lost 2.45 percent to close at 14,910 yuan, its weakest since early August. *ALUMINIUM OUTPUT: Global production for October,...

  • *Offer unchanged at 3,660 yen per share. TOKYO, Nov 21- Advertising company WPP PLC has agreed to a $1.35 billion tender offer from Bain Capital LLC for Japanese peer Asatsu-DK Inc, of which it owns 25 percent, an about-face that heralds an end to a soured partnership. ADK shares jumped more 5 percent to 3,660 yen on Tuesday as investors bet on the likelihood of the...