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News Gulf Coast senators to Obama: Ensure BP spill deal is fair IMF to lower global growth forecasts: German paper American Air says seats secured on 40 of 48 planes ECB's Asmussen: inflation to ease below 2 percent next year U.S. says receives Airbus A350 loan funding documents Saudi says IMF's 2016 deficit forecast is "doomsday scenario" Revised Greek GDP figures show recession deeper than thought IMF chief praises Gulf effort on oil price management France won't rule out bigger EADS-BAE stake: source EADS says continuing BAE merger talks with governments Greek austerity talks to continue, progress seen Ghana 91-day bill yield rises to 23.11 pct IMF's Lagarde says talks with Greece "very productive" Foxconn denies China iPhone plant hit by strike IMF's Lagarde praises GCC's management of oil prices Gulf Coast senators to Obama: Ensure BP spill deal is fair WASHINGTON (Reuters) - Senators from the U.S. Gulf Coast urged President Barack Obama on Friday to ensure that any legal settlement for the 2010 Gulf of Mexico oil spill does not undermine a recently passed law that would funnel billions of dollars worth of fines to their states. The U.S. Justice Department and BP Plc have discussed a potential settlement for damages caused both to Gulf waters and the coastline, which could be worth billions of dollars to states still trying to recover from the worst offshore oil spill in U.S. history. ... Full Story Top IMF to lower global growth forecasts: German paper BERLIN (Reuters) - The International Monetary Fund will lower its forecasts for global economic growth to 3.3 percent this year and 3.6 percent in 2013 from earlier forecasts of 3.4 percent and 3.9 percent respectively, a Germany newspaper reported on Friday. The IMF expects the euro zone economy to shrink by 0.4 percent this year and then grow 0.2 percent in 2013, business daily Handelsblatt said in a preview of the fund's latest forecasts which are due to be released next week. Chinese growth for 2013 is seen at 8.2 percent, versus a previous IMF estimate of 8. ... Full Story Top American Air says seats secured on 40 of 48 planes (Reuters) - American Airlines on Friday said it has repaired seat locks on 40 Boeing 757 jets after some seats came loose during flights earlier this week. The AMR unit, which filed for bankruptcy protection last year, said all 48 of its 757 jets that were to get the seat adjustments would be back in service by Saturday. The carrier had canceled 94 flights over Thursday and Friday to improve the locking mechanisms used to secure seats to aircraft floors. ... Full Story Top ECB's Asmussen: inflation to ease below 2 percent next year BERLIN (Reuters) - Euro zone inflation does not present a threat and should ease below the two percent mark next year, ECB executive board member Joerg Asmussen told Germany's top-selling tabloid Bild, according to an advance copy of an article due to appear on Sunday. "I do not see any rising currency depreciation," Asmussen was quoted as saying. "According to our forecasts, inflation will already ease below the two percent mark again next year." Asmussen said the European Central Bank would continue to guarantee the stability of the common euro zone currency. ... Full Story Top U.S. says receives Airbus A350 loan funding documents WASHINGTON/PARIS (Reuters) - The U.S. government said on Saturday it had received European Union documents on funding for the Airbus A350 after requesting them from the World Trade Organization over a month ago in an ongoing transatlantic dispute over aircraft subsidies. "The compliance panel directed the EU to provide documents and briefing upon a request made by the United States more than a month ago, and we received the documents just yesterday," a spokeswoman for the U.S. Trade Representative's Office said. ... Full Story Top Saudi says IMF's 2016 deficit forecast is "doomsday scenario" RIYADH (Reuters) - International Monetary Fund forecasts that Saudi Arabia's budget surpluses will gradually decline before dropping into deficit by 2016 are a "doomsday scenario", the kingdom's Finance Minister Ibrahim Alassaf said on Saturday. The world's top oil exporter has run large budget surpluses since 2009 but the IMF said in a report last month that falling energy prices would hurt the kingdom's fiscal position. "They have been working on scenarios assuming, I would say, a doomsday scenario which I don't agree with. ... Full Story Top Revised Greek GDP figures show recession deeper than thought ATHENS (Reuters) - The Greek economy shrank even more over the last five years than previously estimated, according to revised economic growth figures released by the debt-ridden country's statistics agency. In a statement published late on Friday, the ELSTAT agency said gross domestic product (GDP) contracted by 4.9 percent in 2010 and 7.1 percent in 2011, exceeding previous estimates of 3.5 percent and 6.9 percent respectively. The revision took account of "significant reductions ... in the consumption expenditure of households," ELSTAT said. ... Full Story Top IMF chief praises Gulf effort on oil price management RIYADH (Reuters) - IMF chief Christine Lagarde praised Gulf oil exporters on Saturday for their help in stabilizing the global economy by managing oil prices, despite complaints by some Western countries that energy costs are still too high. "It gives me an opportunity to thank the GCC countries for their ... stabilizing role in the global economy because of the good monitoring and good management of oil prices and oil reserves ..." the International Monetary Fund's managing director said. ... Full Story Top France won't rule out bigger EADS-BAE stake: source PARIS (Reuters) - France will not rule out buying shares from Lagardere that would raise its stake in a merger of EADS and BAE , a French government source said on Friday, raising the prospect of a deal-breaking clash with Britain. The source, speaking on condition of anonymity, doubted a deal could be reached on the planned mega-merger of the European aerospace group and UK defense firm by an October 10 regulatory deadline and expected that date to be extended by 28 days. ... Full Story Top EADS says continuing BAE merger talks with governments BERLIN (Reuters) - EADS is continuing "constructive talks" with governments over its proposed $45 billion merger deal with BAE Systems and remains convinced that it is an excellent deal for Europe, a spokesman said on Saturday. Tensions over the proposed supermerger spilled into the open on Friday, casting doubt on a rapidly approaching deadline as France, Britain and Germany jockeyed over the role of the state in the world's largest aerospace and arms group. But EADS has been at pains to stress the merger proposal had not collapsed. ... Full Story Top Greek austerity talks to continue, progress seen ATHENS (Reuters) - Greece will continue talks with international lenders next week on new austerity measures for the debt-ridden country to clinch its next loan tranche, the finance minister said on Saturday, with both sides saying progress had been made. Negotiators had been pushing for a deal before a meeting of euro zone finance ministers on Monday, but Greece said it would settle for a statement acknowledging that talks were advancing. ... Full Story Top Ghana 91-day bill yield rises to 23.11 pct ACCRA (Reuters) - The Bank of Ghana said the yield on its 91-day bill rose to 23.11 percent at an October 5 auction from 23.09 percent at the last auction. The Bank said in a statement issued late on Friday that 255.82 million cedis worth of bids for the 91-day paper were accepted at the auction out of a total 260.97 million cedis of bids tendered. Full Story Top IMF's Lagarde says talks with Greece "very productive" RIYADH (Reuters) - International Monetary Fund Managing Director Christine Lagarde said on Saturday that IMF talks with Greece on its debt crisis had been positive. The discussion of the fiscal chapter of Greece's program has been "very good and very productive", she said without elaborating. The talks also include Greece's structural reforms, financing and debt sustainability. Lagarde was speaking at a news conference after meeting with senior officials from the six oil exporters in the Gulf Cooperation Council. ... Full Story Top Foxconn denies China iPhone plant hit by strike TAIPEI/SAN FRANCISCO (Reuters) - Foxconn, the Taiwanese made-to-order electronics giant that assembles Apple Inc's products, denied reports that a plant in China was crippled by a strike, saying on Saturday that its production is on schedule at an important time for Apple. The report of a strike issued by China Labor Watch, a New York-based advocacy group, came weeks after Apple kicked off its largest-ever global rollout for the new iPhone 5 smartphone. Apple is already struggling with tight availability of the phones in stores, analysts say. ... Full Story Top IMF's Lagarde praises GCC's management of oil prices RIYADH (Reuters) - International Monetary Fund Managing Director Christine Lagarde on Saturday praised Gulf Arab countries' good management of oil prices and reserves. Lagarde was speaking at a news conference after meeting with senior officials from the six oil exporters in the Gulf Cooperation Council. She predicted "sustainable growth but at slightly reduced rates in the years to come" for the GCC countries, which are Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Bahrain and Oman. (Reporting by Angus McDowall, Writing by Amena Bakr, Editing by Andrew Torchia) Full Story Top

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