Financial News from Reuters - UK Focus

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  • Investors may be expecting a U.S. interest rate increase in December, but Federal Reserve policymakers remain divided over whether the economy is mired in a rut, strong enough to withstand an immediate hike or hovering somewhere in between. The Fed raised rates last December for the first time in nearly a decade, and many …

  • Oil prices rallied on Wednesday after members of the Organization of the Petroleum Exporting Countries reached an agreement on a production-limiting deal, boosting energy sector shares. The U.S. dollar was flat versus a currency basket but fell to a near-five month low versus the Norwegian krone. Norway, although not …

  • Wall Street ended higher on Wednesday after an OPEC agreement to limit crude output fueled a rally in oil prices and energy shares and more than offset nervousness about a tight race for the U.S. presidency. ...

  • The U.S. dollar hit a roughly five-month low against the Norwegian crown and fell against other commodity-linked currencies on Wednesday after OPEC sources told Reuters the producing group agreed to reduce its oil output. Two sources in the Organization of the Petroleum Exporting Countries said the group would reduce output …

  • Lufthansa's plans to expand its low-cost airline Eurowings by taking over the 55 percent of Brussels Airlines the German carrier does not own, plus leasing up to 40 planes from ailing rival Air Berlin , it said on Wednesday. The negotiations with Air Berlin throw a financial lifeline to loss-making carrier, which said …

  • Oil prices rallied on Wednesday after OPEC members reached an agreement on a production-limiting deal, boosting energy sector shares. Norway, although not an OPEC member, is a major crude producer. Crude oil prices jumped after sources told Reuters that the Organization of the Petroleum Exporting Countries agreed to reduce …

  • U.S. long-dated Treasury debt yields edged higher on Wednesday, boosted by a Reuters report that OPEC has reached a deal to limit oil production, with the agreement to be implemented in November. U.S. ...

  • US STOCKS-Wall Street rallies as OPEC reaches output deal Reuters - UK Focus - 1 hour 23 minutes ago

    Wall Street moved higher on Wednesday after an OPEC agreement to limit crude output fueled a rally in oil and more than offset nervousness about a tight race for the U.S. presidency. The energy index jumped ...

  • Irish police officers to strike for first time in pay dispute Reuters - UK Focus - 1 hour 35 minutes ago

    Irish police officers will go on strike for the first time in November in a dispute over pay, their representative body said on Wednesday, the latest sign that industrial peace in the fast-growing economy is unravelling. Ireland (Other OTC: IRLD - news) was spared the kind of walkouts and protests that beset fellow bailout …

  • Spain looks at possible merger of Bankia and Banco Mare Nostrum Reuters - UK Focus - 1 hour 39 minutes ago

    Spain's bank rescue fund said on Wednesday it would look into a merger between state-owned banks Bankia (Amsterdam: QU8.AS - news) and Banco Mare Nostrum (BMN) that would potentially create a new entity with total assets of over 240 billion euros ($269 billion). The Spanish state owns a 65 percent stake in both Bankia …

  • Evans says inflation target should remain core Fed goal Reuters - UK Focus - 1 hour 53 minutes ago

    Raising rates because of financial stability concerns could leave the Federal Reserve less able to reach its inflation target, Chicago Fed President Charles Evans said on Wednesday, arguing that regulators ...

  • US STOCKS-Wall St reverses loss, gains on oil rally Reuters - UK Focus - 1 hour 54 minutes ago

    Wall Street reversed losses and moved modestly higher on Wednesday as a rally in oil more than offset nervousness about a tight race for the U.S. presidency. The energy index jumped 3.99 percent and was ...

  • Actor Mark Wahlberg said "the biggest responsibility" for himself and the makers of the new movie, "Deepwater Horizon," was to honor the real-life victims of the 2010 oil rig disaster. "The oil can ultimately be cleaned up, (but) those 11 men can't be replaced," Mike Williams, oil rig engineer and survivor of the disaster, …

  • Motor racing-McLaren secure Formula E battery contract Reuters - UK Focus - 2 hours 17 minutes ago

    McLaren Applied Technologies has been chosen to supply batteries to the Formula E electric car racing series in the 2018-19 and 2019-20 seasons, the governing International Automobile Federation (FIA) said on Wednesday. The FIA said in a statement after a meeting of its World Motor Sport Council in Paris that it had decided …

  • Weak growth, an aging workforce and poor productivity may leave the U.S. economy stuck with low interest rates for years to come, and the Federal Reserve struggling to reach its inflation target, Chicago Fed President Charles Evans said on Wednesday. As some in the financial industry press for higher interest rates to …

  • Federal Reserve Chair Janet Yellen was thrust into the election-year boxing ring during a congressional committee hearing on Wednesday, defending the central bank's regulatory role, taking and landing punches on Wells Fargo (Hanover: NWT.HA - news) and other banks considered too big to fail, and addressing accusations …

  • LONDON/PARIS, Sept 28 (Reuters) - The British government and France's EDF (Paris: FR0010242511 - news) will officially sign a contract to build Britain's first new nuclear power plant in a generation on Thursday, after months of wrangling over the involvement of EDF's Chinese partner, sources said. British, French and …

  • Germany denies preparing to rescue Deutsche Bank Reuters - UK Focus - 3 hours ago

    The German government denied that it was working on a rescue of Deutsche Bank after a newspaper report about such plans fuelled fears over the future of the biggest lender in Europe's largest economy. European Central Bank President Mario Draghi said that the bank's low interest rate policies were not to blame for the …

  • LONDON, Sept 28 (Reuters) - * North Sea Ekofisk crude oil differentials fell to their weakest since early August on Wednesday, in line with a decline in lighter, sweeter grades around the Atlantic Basin. The Marbat, which had originally been booked by Vitol to sail to South Korea, from which the trading house has sold …

  • U.S. stock prices slipped on Wednesday after comments from Federal Reserve Chair Janet Yellen raised concerns about increased banking regulations, while oil prices rose in choppy trading amid hopes of an output agreement and data showing a bigger-than-expected increase in U.S. gasoline inventories. The dollar rose against …

  • Europe must heed the lesson from Japan and tackle its "zombie banks" as fast as possible without going soft on capital requirements, a top European Union banking watchdog said on Wednesday. Andrea Enria, chairman of the European Banking Authority, said some of Europe's banks share the characteristics of poorly performing …

  • European shares rise as Deutsche Bank recovers Reuters - UK Focus - 4 hours ago

    European shares rose on Wednesday, helped by gains among commodity stocks, while Deutsche Bank recovered from all-time lows hit in the previous session. Sentiment around the bank perked up after its CEO ...

  • Britain's blue-chip share index bounced back from a one-week low on Wednesday as engineering firm Smiths Group surged after posting higher-than-expected profits and miners tracked stronger metals prices. ...

  • Industrial and commodity group Liberty House's bid for Tata Steel UK's speciality steel and pipe businesses is worth nearly 100 million pounds , an industry source told Reuters on Wednesday. Britain's ...

  • Gasoline refining margins in northwest Europe strengthened on Wednesday despite a bigger than expected increase in U.S. inventories last week. * U.S. gasoline stocks rose last week by 2.0 million barrels, ...

  • Credit Suisse Chief Executive Tidjane Thiam said on Wednesday that his bank was relatively well placed to deal with the impact of Britain's vote to leave the European Union. Credit Suisse (LSE: 0QP5.L - news) 's EU investment banking business is run out of London but Thiam said the Swiss lender had already been scaling …

  • German government bond yields -- a refuge in times of market stress -- have fallen sharply this week on concerns the country's largest lender Deutsche Bank (LSE: 0H7D.L - news) may need Berlin's help to settle a $14 billion fine from the U.S. government. The German government and financial authorities are preparing a …

  • Scotland's last major steelworks reopened under the ownership of industrialist Sanjeev Gupta on Wednesday, heralded by Nicola Sturgeon's government as proof that the country can draw investment and protect industry in difficult times. Liberty Steel bought the 144-year-old Dalzell plant in Motherwell and its sister works …

  • EU antitrust regulators on Wednesday raised a raft of concerns over the proposed $28 billion merger between Deutsche Boerse and the London Stock Exchange, saying it could hinder competition in key financial ...

  • The dollar edged higher against the yen and euro on Wednesday, but gains were limited as traders awaited more U.S. economic data for clues on whether the Federal Reserve will hike rates this year, while reduced concerns over the European banking system limited the euro's losses. Fed Chair Janet Yellen did not comment on …

  • PARIS/BERLIN, Sept 28 (Reuters) - France and Germany distanced themselves on Wednesday from a suggestion by French presidential candidate Nicolas Sarkozy that he could reverse Brexit if elected next year by negotiating a new European Union treaty more acceptable to Britain. Sarkozy, who has raised eyebrows in European …

  • The London Stock Exchange Group said it could hive off the French half of its LCH.Clearnet arm in a bid to ease European Union concerns about exchange's planned merger with Deutsche Boerse (LSE: 0H3T.L - news) . LCH.Clearnet is already one of the world's largest clearing houses for shares and derivatives, and the EU's …

  • Sterling dipped on Wednesday after a Bank of England policymaker said she expected the central bank would "at some point" need to add more monetary stimulus to Britain's economy to cushion the blow dealt by Brexit. BoE Deputy Governor Minouche Shafik - who will be stepping down from the bank's monetary policy committee …

  • EU mergers and takeovers (Sept 28) Reuters - UK Focus - 5 hours ago

    The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- Deutsche Boerse and the London Stock Exchange plan to merge NEW ...

  • Technology giant Apple (Swiss: AAPL-EUR.SW - news) said on Wednesday it is moving its London headquarters to the landmark Battersea Power Station, a move hailed by the government as a sign that major firms are still investing after the Brexit vote.

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