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Updated: 23 hours 16 min ago

Fiat Chrysler shares soar on Ferrari, capital boost news

Wed, 29/10/2014 - 14:02
MILAN (Reuters) - Shares in Fiat Chrysler rose more than 18 percent to a six-month high on Wednesday after the company announced plans to spin off its luxury car unit Ferrari and issue a mandatory convertible bond.

Fiat Chrysler to issue $2.5 billion mandatory convertible, shares

Wed, 29/10/2014 - 13:51
MILAN (Reuters) - Fiat Chrysler Automobiles said on Wednesday it would issue a mandatory convertible bond for $2.5 billion (1.55 billion pounds) and place up to 100 million of its shares to shore up funding for its 48-billion euros (37.86 billion pounds) investment plan.

Facebook spending gets thumbs up from analysts - if not investors

Wed, 29/10/2014 - 13:48
(Reuters) - Another day, another quarterly report from a technology company that disappointed investors.

SFO to probe Tesco accounting errors - Sky News

Wed, 29/10/2014 - 13:42
LONDON (Reuters) - Britain's Serious Fraud Office (SFO) is to launch a formal criminal probe into accounting errors at troubled supermarket Tesco, Sky News reported on Wednesday.

Hedge funds muscle into reinsurance, attracting doubters

Wed, 29/10/2014 - 13:18
LONDON (Reuters) - Hedge funds are muscling their way into the market to share the cost of cleaning up after natural catastrophes, but sceptics are questioning whether they will stick around ahead of the next "big one" as underwriting returns fall.

European banks increase sovereign bets despite risks

Wed, 29/10/2014 - 13:05
LONDON (IFR) - Major European banks doubled their exposure to government debt in the two years running up to the latest stress tests despite a worsening in the economic fundamentals of many countries, according to an IFR analysis of European Banking Authority data.

German prosecutors drop probe of ex-Morgan Stanley banker

Wed, 29/10/2014 - 12:59
STUTTGART Germany (Reuters) - German prosecutors dropped a two-year investigation into possible breach of trust by a former regional politician and an ex-Morgan Stanley banker over a state's purchase of a stake worth 4.7 billion euros (3.72 billion pounds) in utility EnBW .

Volkswagen's China JV recalls cars over air bag issue

Wed, 29/10/2014 - 12:40
SHANGHAI (Reuters) - FAW-Volkswagen Automobile Ltd, a joint venture of Volkswagen AG and a Chinese state-owned carmaker, will recall 270,635 Audi cars in China to fix a problem with air bag software, China's quality watchdog said on Wednesday.

Behind the scenes of Sanofi's boardroom bust up

Wed, 29/10/2014 - 12:35
PARIS (Reuters) - A boardroom tussle brewing for months at Sanofi came to a head on Wednesday when France's top drugmaker fired its chief executive, wiping more billions off its share price.

UK lenders cut back on new mortgages as housing market slows

Wed, 29/10/2014 - 12:27
LONDON (Reuters) - British lenders approved the fewest mortgages in more than a year last month, adding to signs that previously rapid growth in Britain's housing market and the broader economy is slowing.

Deutsche Bank slumps to quarterly net loss as legal costs weigh

Wed, 29/10/2014 - 12:26
FRANKFURT (Reuters) - Deutsche Bank AG fell to a net loss in the third quarter after falling victim to the legal costs which already this week prompted a management reshuffle designed to help tackle a long list of unresolved litigation issues.

Intertek outperforms as FTSE advances ahead of Fed

Wed, 29/10/2014 - 12:04
LONDON (Reuters) - Britain's top equity index rose on Wednesday as expectations the U.S. Federal Reserve will signal it is in no rush to raise interest rates buoyed stock markets, while positive broker comments lifted Intertek.

Standard Life outlook muddied by British pension rule changes

Wed, 29/10/2014 - 11:48
LONDON (Reuters) - Insurer Standard Life reported strong net inflows in the first nine months but said that changes in British pension rules cut sales of key products and made the outlook uncertain.

Irish retail sales up 6 percent in September

Wed, 29/10/2014 - 11:13
DUBLIN (Reuters) - Irish retail sales were 6 percent higher in September than a year ago in volume terms, the Central Statistics Office said on Wednesday.

Britain's Yorkshire Building Society fined 4 million pounds for mortgage failings

Wed, 29/10/2014 - 11:07
LONDON (Reuters) - Britain's financial watchdog has fined Yorkshire Building Society (YBS) 4.1 million pounds for failing to deal properly with thousands of customers who fell behind on their home loan payments.

UK signs 1.5 billion pounds military air traffic deal with Thales - NATS JV

Wed, 29/10/2014 - 11:01
LONDON (Reuters) - Britain's Ministry of Defence (MoD) on Wednesday awarded a 1.5 billion pound contract to manage its military air traffic operations to a joint venture between French firm Thales and NATS.

Banks see upswing in loan demand across euro zone

Wed, 29/10/2014 - 10:51
FRANKFURT (Reuters) - Around one in five banks across the euro zone expect companies to approach them for more credit as the year draws to a close, with those in Germany and France most optimistic, the European Central Bank said on Wednesday.

Air France-KLM sees more belt-tightening after pilot strike

Wed, 29/10/2014 - 10:47
PARIS (Reuters) - Air France-KLM said it would limit investments and accelerate cost controls next year to mop up the remaining impact of a recent pilots' strike that helped slash its operating profit by more than half in the third quarter.

French drugmaker Sanofi sacks CEO Viehbacher

Wed, 29/10/2014 - 10:43
PARIS (Reuters) - Sanofi's board ousted its chief executive of six years at a special meeting on Wednesday, two days after it emerged he had fallen out with the French drugmaker's chairman, wiping more billions off its market value.

UK inflation expectations hold steady at five-year low - YouGov

Wed, 29/10/2014 - 10:23
LONDON (Reuters) - Britons' expectations for inflation over the next 12 months held steady in October at 1.9 percent, matching the lowest reading since 2009, a monthly poll by YouGov showed on Wednesday.