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World - Airlines to push for independent guidance on airspace safety after Ukraine crash

By Allison Lampert and Allison Martell MONTREAL/TORONTO (Reuters) - Global airlines will push to get `neutral information` on whether to use or avoid airspace over conflict zones at Tuesday`s meeting of the U.N. aviation agency and other airline bodies, a European-based airline industry source said. The U.N. agency, the International Civil Aviation Organization (ICAO), has invited the heads of the airline industry, airports and the world`s air traffic control networks to the Montreal meeting to discuss what needs to be changed to ensure that airliners are flying in secure airspace after the downing of a Malaysian airliner over Ukraine on July 17 took 298 lives. The meeting is likely to hear calls for wider international powers to intervene when a country fails to monitor threats to its airspace.

Monday, July 28, 2014  23:26


World - Lloyds bank fined £218m over Libor rigging

Britain`s Lloyds Banking Group is to pay £218 million ($370 million, 276 million euros) in fines to British and US regulators for attempting to rig inter-bank lending rates, the bank said Monday. `LBG announces that it has reached settlements totalling £218 million to resolve with UK and US federal authorities legacy issues regarding the manipulation several years ago of group companies` submissions to the British Bankers` Association (BBA) London Interbank Offered Rate (LIBOR) and Sterling Repo Rate,` it said in a brief statement. The Libor scandal erupted two years ago when British bank Barclays was fined £290 million by British and US regulators for attempted manipulation of Libor and Euribor interbank rates between 2005 and 2009.

Monday, July 28, 2014  14:33


World - Pop star Tulisa guilty of assaulting celebrity blogger

Singer Tulisa Contostavlos has been found guilty of assaulting a celebrity blogger at a music festival. The former X-Factor judge, 26, was convicted on Friday of hitting Savvas Morgan during a dispute at the V Festival in Chelmsford, Essex. Contostavlos was ordered to pay a £200 fine and £100 compensation to Mr Morgan, as well as £2,700 in prosecution costs. Earlier this week, a separate trial involving Contostavlos collapsed when the judge said there were `strong grounds` to believe that undercover reporter Mazher Mahmood, known as the `Fake Sheikh`, had lied during a pre-trial hearing.

Friday, July 25, 2014  17:27


World - EasyJet forecasts jump in annual profit despite unrest

No-frills airline EasyJet on Thursday forecast a jump in annual profits as higher passenger numbers and revenues offset disruptions caused by unrest in Israel, Russia and Egypt. Easyjet expects to grow pre-tax profit to between £545 million and £570 million in the year to the end of September, the carrier said in a trading statement. The range given for the latest financial year includes `the impact from the situations in Israel, Egypt and Moscow` and assumes `no further significant disruption`, Easyjet said.

Thursday, July 24, 2014  08:42


World - BSkyB reveals deal to create pan-European pay TV giant

British satellite television group BSkyB said on Friday it had agreed multi-billion-dolla deals with Rupert Murdoch`s media empire 21st Century Fox to create a pan-European pay-TV giant. Murdoch`s 21st Century Fox media conglomerate owns 39 percent of BSkyB. BSkyB has agreed to buy 21st Century Fox`s 100-percent stake in Sky Italia and its 57.4-percent interest in Sky Deutschland, a statement said. BSkyB said it planned to acquire the rest of Sky Deutschland from the German group`s minority shareholders, creating a pan-European TV giant in deals costing the British group a total of up to £7.0 billion ($11.9 billion, 8.8 billion euros) in cash.

Friday, July 25, 2014  08:41


World - Richard III`s makeshift grave opens to public

The grave of King Richard III, immortalised by Shakespeare as one of history`s great villains, was opened up to the public on Saturday in central England. The remains of the infamous ruler were found in 2012 under a car park in the city of Leicester. Around a hundred visitors were on hand to watch city mayor Peter Soulsby cut the ribbon on the £4 million ($6.8 million, 5 million euro) new visitor centre at the discovery site. Early arrivals at the building, in an abandoned school close to Richard`s grave, were able to examine a replica of his skeleton made using a 3D printer.

Saturday, July 26, 2014  14:17


World - London shares slide on weak German confidence data

London`s leading share index slipped on Friday as a fall in German business confidence overshadowed positive British growth data, dealers said. The benchmark FTSE 100 index slipped 0.44 percent to 6,791.55 points, while in Paris the CAC 40 dropped 1.82 percent at 4,330.55. The crises in Ukraine and the Middle East are eroding business confidence in Germany, which could in turn derail European recovery. Back on the trading floors, Royal Bank of Scotland was the star performer after the lender saw its share price soar 10.77 percent after it announced net profits almost tripled to £1.425 billion in the six months to the end of June.

Friday, July 25, 2014  18:08


World - Britain`s Lloyds bank says expects fine over Libor

Britain`s Lloyds Banking Group said on Friday that it expects to be fined for its role in the Libor rate-rigging scandal. LBG said in statement that it had noted media coverage regarding potential settlements with a number of government agencies `around the setting of Interbank Offered Rates and other benchmarks`. It added: `The settlements remain to be agreed and LBG expects they will include the payment of penalties.` The Financial Times reported that next week LBG will announce it is paying fines of up to £300 million ($509 million, 379 million euros) to British and US regulators after it was allegedly found to have manipulated inter-bank lending rates.

Friday, July 25, 2014  11:34


World - Royal Bank of Scotland reports recovery, shares leap

Britain`s state-rescued Royal Bank of Scotland posted a surge in profits on Friday, boosting its share price, but warned over future earnings. Pre-tax profits jumped 93 percent to £2.65 billion, it added. In reaction, RBS shares rocketed 14.34 percent to 376 pence, topping London`s benchmark FTSE 100 index, which was flat at 6,816.25 points in early trading. `These results show that underneath all the noise and huge restructuring of recent years, RBS is a fundamentally stronger bank that can deliver good results for customers and shareholders,` said chief executive Ross McEwan.

Friday, July 25, 2014  10:41


World - Negredo facing three months out - Pellegrini

Manchester City striker Alvaro Negredo will be out for up to three months after breaking a bone in his foot, manager Manuel Pellegrini has revealed. `Alvaro had surgery today (Tuesday) on his broken foot and he will probably be out for two or three months,` Pellegrini said, in comments reported on the club website. Negredo, 28, fractured the fifth metatarsal bone in his right foot during City`s 2-1 win over Hearts in a friendly in Edinburgh on Friday. Negredo signed from Sevilla last year for a fee of around £16 million ($27.3 million, 20.3 million euros).

Wednesday, July 23, 2014  11:48

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