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UK union OK brings Opel deal closer

Agreement between Magna and a UK labour union on Tuesday brought closer a final deal for General Motors [GM.UL] to sell a majority stake in its European carmaking arm Opel to a Canadian-Russian consortium.

Handbags and snoods help Burberry top forecasts

Luxury goods group Burberry beat second-quarter revenue forecasts, helped by demand for handbags, leather goods and snoods, adding to signs of a consumer recovery and lifting its shares to a 21-month high.

Handbags, leather goods help Burberry top forecasts

British luxury goods group Burberry beat second-quarter revenue forecasts, helped by demand for handbags and leather goods, and signaled an improvement in some second-half revenue trends.

Daily Commentary - 14/10/2009

A softer than expected result in the NAB business confidence survey did little to curb enthusiasm for the Aussie dollar in Asia yesterday as it held on to intraday support at 0.9050. During the offshore session the AUD momentarily jumped above the 91 cent mark following a rally in the Euro only to pull back to exchange at 0.9050 this morning ahead of the release of Westpac's Consumer Confidence survey.

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Miners pull FTSE down 0.3 pct; UK inflation due

Britain's leading shares were 0.3 percent lower early on Tuesday, retreating from a 12-month high set the previous session with investors staying on the sidelines ahead of UK inflation data and upcoming U.S. corporate earnings.

Daily Commentary - 13/10/2009

The Aussie dollar traded in a narrow range during Asia yesterday bouncing between 0.9020 and 0.9060 for the majority of the session.

Whitney Houston set to tour Europe in April 2010

Comeback pop singer, Whitney Houston, will tour Europe next year making it her first tour in eleven years.

Up rises again overseas

Buoyed by a substantial first-place U.K. debut, the Pixar cartoon Up reclaimed the No. 1 spot on the foreign box office during the weekend.

UK halts business with Iran firms on nuclear fears

Britain froze business ties with an Iranian bank and state-run shipping firm Monday, citing fears that they were involved in helping the Islamic Republic to develop nuclear weapons.

Britain says some progress on GM, issues remain

Britain said Monday progress was being made in negotiations over the future of GM Opel car plants in Britain but there were still issues to be settled.

Opel sale contract may come this week: labor leader

General Motors GM.UL is on track to sign a contract this week to sell a majority stake in European carmaking arm Opel to a Canadian-Russian consortium, Opel labor leader Klaus Franz told Reuters.

FDP sees risk Germany shoulders full Opel burden

Germany could end up shouldering the entire burden of aid for Opel because Britain and Spain remain reluctant to support the planned sale of the carmaker to Canada's Magna, a Free Democrat (FDP) politician said.

Britain's Brown backs BoE on quantitative easing

Prime Minister Gordon Brown gave his backing on Monday to the central bank's program of pumping money into the economy to help pull Britain out of recession.

Lloyds lines up banks for rights issue - sources

British bank Lloyds (LLOY.L) has lined up six investment banks to run a rights issue expected to be worth over 10 billion pounds ($15.9 billion) as the lender seeks to cut its reliance on the government, people familiar with the matter said on Monday.

CORRECTED - UK's Brown plans to announce 3 bln stg asset sale

British Prime Minister Gordon Brown plans to detail a sale of government assets on Monday aimed at raising 3 billion pounds ($4.8 billion), a draft of a speech provided by his office showed on Sunday

Earnings hopes lift Europe stocks to near 3-week high

European stocks were up 1.2 percent by midday on Monday, hitting a near three-week high, as forecast-beating results from Philips (PHG.AS) fuelled hopes over results ahead of this week's earnings from bellwethers.

Oils, miners, Vodafone help FTSE break through 5,200

A rally by miners and energy stocks, spurred by firmer commodity prices, helped Britain's top share index extend gains by midday on Monday as it rose above 5,200 points for the first time since September 2008.

FTSE breaks back through 5,200 as oil majors gain

Britain's top shares rose 1.0 percent early on Monday, regaining 5,200 points for the first time in over a year on advances in oil majors and a rally by Vodafone (VOD.L), with investors awaiting the next batch of U.S. earnings.

Brown to announce £3 billion asset sale

Prime Minister Gordon Brown plans to detail a sale of government assets on Monday aimed at raising 3 billion pounds, a draft of a speech provided by his office showed on Sunday.

Tokio Hotel aims to translate Euro success to U.S

Sometimes, much weirder things happen at the MTV Video Music Awards than Kanye West interrupting an acceptance speech.

Boyzone singer Gately, 33, dies in Mallorca

Boyzone singer Stephen Gately, 33, who caused a sensation in the pop world 10 years ago by announcing he was gay, died while on holiday in Mallorca, Spain, the Irish pop group's official website said on Sunday.

Daily Commentary - 12/10/2009

Comments by U.S Federal Reserve Bank Chairman Ben Bernanke relating to interest rates and inflation kept a lid on the Aussie dollar heading into the weekend and it opens this morning relatively unchanged from Friday''s Asian close at 0.9035.

Clinton warns Iran of need for nuclear progress

U.S. Secretary of State Hillary Clinton said on Sunday that international powers would not wait forever for Iran to prove it was not developing nuclear bombs.

Airbus confident A400M to fly by year-end

Airbus is confident its delayed A400M military transport plane will fly by the end of the year but dismissed a magazine report that its maiden flight could come as soon as November 30 as fantasy.

US whiskey makers look abroad for spirited growth

The American whiskey market may be back on a roll. The industry which produces Jack Daniel's and Jim Beam is seeing sales flatten in its domestic market but overseas business is booming and driving overall growth.

Pressure on Czechs after Poland signs EU treaty

Polish President Lech Kaczynski signed the European Union's reform treaty into law on Saturday, leaving the Czech Republic as the only country still to ratify the document.