EUROPE

AIG to buy reinsurer Validus for $5.56 billion

(Reuters) – American International Group Inc (AIG.N) on Monday said it would buy reinsurer Validus Holdings Ltd (VR.N) for $5.56 billion in cash, ending a long period of retrenchment for AIG as new Chief Executive Brian Duperreault plots an expansionist path. Duperreault initiated the deal to buy Bermuda-based Validus, which comes four months after U.S. regulators said AIG was no ...

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UK union chief meets Peugeot boss to defend Vauxhall car plant

LONDON (Reuters) – The head of Britain’s biggest trade union was meeting Peugeot’s (PEUP.PA) boss on Monday to call for fresh investment in its Vauxhall car plant after the French automaker said it would cut around a third of the workforce to combat inefficiencies. Peugeot acquired Vauxhall and Opel last year when it bought General Motors’ loss-making European arm, and ...

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UKIP, its chief and texts from a lover – Britain's anti-EU party in chaos

LONDON (Reuters) – The United Kingdom Independence Party, which transformed British politics by securing a referendum on EU membership, was close to meltdown on Monday over the fate of its leader whose lover made racist comments about Prince Harry’s fiancee Meghan Markle. Under Nigel Farage, UKIP became a significant force in British politics by convincing former Prime Minister David Cameron ...

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Keeping up with the Russians – head of UK army wants more money

LONDON (Reuters) – Britain must ensure its armed forces can keep up with adversaries like Russia, which already has military capabilities the United Kingdom would struggle to match, according to the head of the British army. The comments from Chief of the General Staff Nick Carter, due to be delivered in a speech on Monday, reflect concerns among the top ...

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Turkey says campaign against U.S.-backed Kurdish force in Syria will be swift

HASSA, Turkey (Reuters) – Turkey shelled targets in northern Syria on Monday and said it would swiftly crush the U.S.-backed Kurdish YPG fighters who control the Afrin region, amid growing international concern over its three-day-old military operation. Turkish forces and their Syrian rebel allies began their push to clear YPG fighters from the northwestern enclave on Saturday, opening a new ...

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Rex Tillerson visits new U.S. embassy in London that Trump criticised

LONDON (Reuters) – Secretary of State Rex Tillerson visited the new $1 billion (£719 million) U.S. embassy in London on Monday, just days after his boss Donald Trump criticised the move to new diplomatic premises as part of a bad deal agreed by the administration of Barack Obama. Trump earlier this month cancelled a trip to London to open the ...

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Aston Martin hit by Daimler steering-column recall

PARIS (Reuters) – Aston Martin has become the latest carmaker to be caught up in a major recall of faulty Daimler (DAIGn.DE) steering-column components that can cause unintended airbag deployments. The British sports car maker is recalling all 3,873 DB11 coupes built since late 2015, when production of the flagship model began, sources with knowledge of the matter said. Aston ...

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Pence, in Jerusalem, says honoured to be in 'Israel's capital'

JERUSALEM (Reuters) – U.S. Vice President Mike Pence pointedly referred to Jerusalem as Israel’s capital on Monday as he met the country’s leader, further vexing Palestinians who have already snubbed his visit over a U.S. policy shift towards the holy city. President Donald Trump last month acknowledged Jerusalem as the capital of Israel and said he would move the U.S. ...

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U.S. government workers wake to shutdown, Senate vote looms

WASHINGTON (Reuters) – Hundreds of thousands of federal workers woke up on Monday with the U.S. government still shut down and the Senate expected to try again to restore federal funding, if only temporarily, and work on resolving a dispute over immigration. Amid uncertainty about whether federal employees should report to work in the morning, senators were set to vote ...

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UKIP descends into chaos over fate of leader and lover's text messages

LONDON (Reuters) – The United Kingdom Independence Party, which transformed British politics by securing a referendum on EU membership, was plunged into chaos on Monday over the fate of its leader whose lover made racist comments about Prince Harry’s fiancee Meghan Markle. Under Nigel Farage, UKIP became one of the most significant political forces in recent British politics by convincing ...

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