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Aug 19, 2014

Britain’s gas trading crown at risk as euro boosts Dutch appeal

LONDON, Aug 19 (Reuters) – Britain’s dominance in European
natural gas trading is under threat from a Dutch trading hub
where volumes are soaring, buoyed in part by Europe’s utility
companies who prefer to hedge their deals in euros.

Britain has been the region’s leading gas trading hub since
North Sea oil and gas discoveries in the 1970s made it Europe’s
main producer. This position was cemented when it liberalised
its energy markets in the 1990s, meaning much of its gas was
sold and exported in pounds.

Aug 14, 2014

Oil dips toward $104 on steady supply, weak data

LONDON, Aug 14 (Reuters) – Brent crude oil fell towards $104
a barrel on Thursday as a contraction in the German economy
underscored sluggish demand in Europe while supply remained
strong despite conflict in key exporting countries Iraq and
Libya.

Germany’s economy shrank in the second quarter and France
posted no growth, data showed, adding to jitters as the euro
zone trades tit-for-tat sanctions with Russia over the crisis in
Ukraine.

Aug 12, 2014

Oil hits 9-month low on ample supply despite wars

LONDON, Aug 12 (Reuters) – Brent crude oil fell to around
$104 a barrel on Tuesday, touching its lowest level in nine
months as steady supplies dispelled concerns over potential
disruptions in producers including Iraq and Libya.

The International Energy Agency (IEA) said while the
situation in several key oil-producing countries “remains more
at risk than ever”, supplies were ample and the Atlantic Basin
was even reported to be facing a glut.

Aug 11, 2014

Oil below $105 as Iraq pumps crude despite conflict

LONDON, Aug 11 (Reuters) – Brent crude oil slipped below
$105 a barrel on Monday as U.S. intervention in Iraq eased
concerns over the risk of disruption to supply from OPEC’s
second-largest producer.

Oil jumped sharply at the end of last week as Islamic State
fighters made rapid gains in parts of northern Iraq and came
within striking distance of more of the country’s oilfields.

Jul 16, 2014

Bombardier offers Q400 variants in emerging markets push

FARNBOROUGH, England, July 16 (Reuters) – Canadian plane and
train maker Bombardier has expanded to four from one
its range of Q400 NextGen turboprop regional airliners including
an 86-seat version as it aims to bolster sales in emerging
markets, a top company executive said on Wednesday.

Bombardier’s 74-seat Q400 has been popular on North American
routes for more than a decade but with the addition of three new
variants the Montreal-based company aims to compete better
globally with rival maker ATR, which is a partnership between
Airbus Group and Alenia Aermacchi.

Oct 11, 2012

Arms maker BAE fights for growth after merger shot down

LONDON (Reuters) – Its $45 billion merger plan shot down, BAE Systems (BAES.L: Quote, Profile, Research, Stock Buzz) must now hunt growth elsewhere if the British arms maker is to find the cash needed to sustain big dividends and avert the possibility of a break-up.

CEO Ian King is under pressure to spur the search for new business with a lucrative deal in Saudi Arabia now seen as crucial to bolster the balance sheet.

Oct 10, 2012

Back to drawing board after Berlin halts BAE, EADS deal

BERLIN/LONDON, Oct 11 (Reuters) – Europe’s two biggest
aerospace firms will go back to the drawing board to find new
strategies after Germany stymied the world’s biggest arms and
aviation company merger.

Britain’s BAE Systems, which earns nearly half its revenue
selling arms to the Pentagon, could end up a takeover target
after failing to seal its $45 billion deal with the
Franco-German maker of Airbus civilian jets, EADS.

Oct 10, 2012

“Major Tom” brought to earth as Merkel says ‘Nein’

LONDON, Oct 10 (Reuters) – Tom Enders was flying high six
weeks ago; newly elevated to the top job at Europe’s EADS, his
secret merger deal to create the world’s biggest aerospace group
and rid himself of burdensome government meddling was preparing
for launch.

But when “Major Tom”, a pugnacious paratroop officer in the
German army reserve, took off to go hang-gliding in late August,
things began to go wrong. A painful crash that left his arms
strapped up, robot-style, kept him only briefly from work; but
it prevented him flying with Chancellor Angela Merkel on a trip
to China where he might have hoped to win her as an ally.

Oct 10, 2012

EADS, BAE call off world’s biggest arms merger

LONDON (Reuters) – EADS and BAE Systems called off the world’s largest defence and aviation merger on Wednesday, and sources close to the talks blamed Germany for wrecking the $45 billion deal.

BAE said it had become clear that the interests of the French, British and German governments could not be reconciled with each other or with the objectives that BAE and EADS established for the merger.

Oct 10, 2012

EADS, BAE in last-ditch struggle to save merger

LONDON, Oct 10 (Reuters) – EADS and BAE Systems
are engaged in a final push to rescue their $45 billion
aerospace merger from the political jockeying that threatens to
sink it, as doubts grow over German backing for the deal.

The European companies have until 1600 GMT on Wednesday to
declare their intentions and either scrap their merger or ask UK
regulators for more time or finalise their plans to create the
world’s largest aerospace and arms group.