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Sterling hits two-month high, investors bet government to lose Brexit appeal

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LONDON Sterling hit a two-month high against the dollar on Tuesday as investors bet the British government would lose its battle to begin the formal process for leaving the European Union without parliamentary approval.

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'Keep calm and negotiate': EU sees Oct 2018 Brexit deal 2:11pm GMT

BRUSSELS The European Union's chief negotiator set a target of agreeing a Brexit deal with Britain by October 2018, assuming London keeps a promise to formally launch the process of leaving the EU by the end of March.

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Brexit deal in 18 months is ample time - Johnson 2:11pm GMT

BRUSSELS British foreign minister Boris Johnson said on Tuesday that the 18 months the EU's chief negotiator has set for concluding talks with Britain to leave the bloc should be "absolutely ample".

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Reuters poll - Britain's EU divorce most likely to end with bilateral trade deal 1:32pm GMT

LONDON Britain will most likely leave the European Union having signed a bilateral trade agreement, according to a Reuters poll of economists on Tuesday that also suggested there remains little chance of the country slipping into recession.

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Britain will need new law to trigger Brexit if loses court battle - lawyer 1:13pm GMT

LONDON The British government will need to put forward a parliamentary bill to trigger formal European Union divorce talks should it lose a Supreme Court fight over who can start the Brexit process, a government lawyer said on Tuesday.

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Italy readying state bailout for Monte dei Paschi bank - sources 1:05pm GMT

ROME Italy is preparing a state bailout for Monte dei Paschi di Siena as the bank's hopes of being saved by private funding fade following Prime Minister Matteo Renzi's decision to quit, sources close to the matter said on Tuesday.

Capita likely to announce painful overhaul as Brexit bites 1:00pm GMT

EDINBURGH Britain's biggest outsourcing firm Capita may need to raise capital, sell assets or cut its dividend to protect itself from Brexit-related tremors rocking the sector that have sent its stock plunging to 10-year lows.

Liverpool port eyes transatlantic expansion to overcome shipping turmoil 12:47pm GMT

LONDON Liverpool's new container terminal expects to ramp up transatlantic shipping as British companies look to deepen business ties despite concerns that the U.S. election of Donald Trump could hinder free trade, the port operator's chief said.

EU finance ministers back larger investment plan to spur growth 12:40pm GMT

BRUSSELS European Union finance ministers gave their backing on Tuesday to an expanded plan to spur investment and economic growth in the bloc, but they fell short of committing more national funds to the EU Commission-led initiative.

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In blow to UK, EU rejects leeway for financial traders from tax avoidance rules 12:09pm GMT

BRUSSELS Most European Union finance ministers on Tuesday rejected a British-backed plan to exempt financial traders from new rules aimed at tackling practices used by multinationals to reduce their tax bills.

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German utilities set for compensation after court win on nuclear

KARLSRUHE/FRANKFURT Germany's highest court ruled on Tuesday that hastening the shutdown of nuclear plants after Japan's Fukushima disaster violated some of the property rights of utility companies, allowing them to seek limited damages.

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Italian minister, after talking to Renzi, sees new election likely in February

ROME Italy could have an election as early as February, a minister in Prime Minister Matteo Renzi's outgoing government said on Tuesday, speaking after talking to Renzi.

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