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S&P sees slowdown but no recession for UK and euro zone after Brexit


LONDON Britain and the euro zone will avoid a recession but face slower economic growth as a result of the decision by British voters to leave the European Union, ratings agency Standard & Poor's said on Wednesday.

Israel's elder statesman, Shimon Peres, dies at 93 10:58am BST

JERUSALEM Former Israeli president and elder statesman Shimon Peres, a joint winner of the 1994 Nobel Peace Prize, died in hospital on Wednesday at 93, two weeks after suffering a massive stroke. | Video

Deutsche gets lift from 935 million pound sale of Abbey Life to UK's Phoenix 10:56am BST

FRANKFURT Deutsche Bank AG has sold its British insurance business Abbey Life to Phoenix Group Holdings as it sheds non-core assets and reduces its balance sheet in an effort to reassure anxious investors and meet regulators' demands.

Aleppo bombardments hit bakery, hospital - residents 11:24am BST

BEIRUT A bakery and major hospital were hit in bombardments of rebel-held eastern Aleppo early on Wednesday, residents said, as Syrian government forces pressed their Russian-backed campaign to retake the whole city.

RBS to pay $1.1 billion to resolve some of its U.S. mortgage claims 10:52am BST

NEW YORK Royal Bank of Scotland Group Plc will pay $1.1 billion (£847.07 million) to resolve claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration (NCUA) said.

Investigators to pinpoint rocket launch that downed airliner over Ukraine 11:13am BST

AMSTERDAM International prosecutors investigating the downing of a Malaysian airliner over eastern Ukraine in 2014 will report their findings on Wednesday, but stop short of naming any culprits.

SABMiller shareholders comfortably back AB InBev takeover offer 11:23am BST

LONDON SABMiller shareholders backed the brewer's $100-billion-plus takeover by rival Anheuser-Busch InBev by a large majority on Wednesday, paving the way for one of the biggest corporate mergers in history.

More UK stimulus probably needed 'at some point' - BoE's Shafik 10:17am BST

LONDON Bank of England Deputy Governor Minouche Shafik said she expected the central bank would need to pump more stimulus into Britain's economy "at some point" as it adjusts to the shock of the vote to leave the European Union.

Putin faces dilemma after vote win - How to prolong a system based on himself 11:24am BST

MOSCOW Vladimir Putin appears politically invincible after Russia's ruling party won its biggest ever parliamentary majority this month. But he faces an increasingly pressing dilemma: How best to ensure the survival of a system built around himself.

'Silly' Allardyce says error of judgement led to shock exit 11:21am BST

LONDON An emotional and apologetic Sam Allardyce headed for the airport on Wednesday, blaming entrapment for his shock exit as England manager but recognising that an error of judgement had led to his downfall.