Monday, 1 October 2012


 
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A logo of the Swiss mining company Xstrata is shown at the headquarters in Zug September 7, 2012.  REUTERS/Michael Buholzer

Xstrata backs $33 billion Glencore bid with conditions

Miner Xstrata gives its long-awaited blessing to trader Glencore's revised $33 billion offer, though only on condition shareholders also support a controversial pay package aimed at retaining key managers for at least two years. Full Article

Labour urges government to spend 4G money on new homes 3:45am BST

MANCHESTER - The Labour Party will on Monday urge the government to build its way out of recession, using funds from the sale of the mobile phone spectrum to pay for more than 100,000 cheap homes and a stamp duty freeze for first time house buyers.
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Euro, oil fall on Spain, growth worries

7:13am BST
TOKYO - The euro, commodities and Asian shares fell on Monday, weighed down by uncertainty about Spain's bailout and concerns over a slowdown in demand that was underscored by sluggish business activity data in Japan and China.
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Europe clinch Ryder Cup with stunning comeback

6:51am BST
MEDINAH, Illinois - Inspired by the spirit of Seve Ballesteros, Europe pulled off one of the greatest comebacks on a golf course to beat the United States and win the Ryder Cup by 14-1/2 points to 13-1/2 on Sunday.
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AAR hires Rothschilds for TNK-BP bid funding - paper

7:39am BST
MOSCOW - The billionaire quartet that owns half of Anglo-Russian oil firm TNK-BP has hired Rothschilds Group to arrange loan syndication to buy out BP's 50 percent stake in the company, the Kommersant daily newspaper said on Monday.
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Finance firms see unexpected drop in business in Q3 - survey

12:48am BST
LONDON - Financial firms saw an unexpected drop in business in the third quarter and are cutting jobs to rein in costs, according to a survey published on Monday.
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Labour to impose "real" bank split if elected - Miliband

1:28am BST
MANCHESTER, England - Labour leader Ed Miliband launched an offensive against banks on Sunday ahead of his party's annual conference, promising a "real separation" of retail and investment banking and to raise the top rate of personal income tax.

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