Europe

LONDON (Reuters) - Insurers in Europe may need to put aside money to protect their policyholders should they become insolvent, and regulators should be able to be shut them down swiftly without the need for taxpayer bailouts, a top EU official said on Wednesday.

However the European insurance industry body said it opposed such moves, saying there were already safeguards in place and that the new requirements could hit the sector’s global competitiveness.

LONDON (Reuters) - Oil prices rose for a second day on Wednesday, recouping some losses after a five-day rout, on talk that OPEC could extend oil output cuts if a new coronavirus hurts demand and data showing a decline in U.S. stockpiles.

Brent crude LCOc1 rose 47 cents, or 0.8%, to $59.98 a barrel by 1350 GMT. U.S. crude was up 36 cents, or 0.7%, at $53.84.

Financial markets that have been hit by the spread of the virus out of China are trying to assess the economic fallout, with the death toll rising to 132 and airlines reducing flights to China.

BRUSSELS (Reuters) - Britain’s ambassador to the European Union passed documents formalizing Brexit to a senior EU official on Wednesday, hours before European lawmakers are due to sign off on a deal that will see Britain finally quit the bloc on Friday.

Three-and-a-half years after Britons voted to leave, a smiling Tim Barrow handed over a dark blue leather file embossed with the emblem of the United Kingdom, against a backdrop of British and EU flags at the bloc’s Brussels headquarters.

BRUSSELS, Jan. 28 (Xinhua) -- The European Union (EU) will study and assess the U.S. Middle East peace plan announced by the U.S. President Donald Trump, said Josep Borrell, EU high representative for foreign affairs and security policy, in a declaration on Tuesday.

The top EU diplomat pledged the EU's "firm and united commitment to a negotiated and viable two-state solution", reaffirming the EU's readiness for resuming negotiations between Israel and Palestine.

Brussels, Jan 28 (AFP/PTI) The EU will not ban Chinese telecom giant Huawei or any other company in Europe, a top official said on Tuesday, despite intense pressure from Washington to shun the firm over spying fears.

The European Commission, the EU's executive arm, will officially unveil recommendations to member states on Wednesday, but commissioner Thierry Breton told MEPs that Brussels will choose tight scrutiny over any blanket ban.

PARIS, Jan 29 (NNN-AGENCIES) — French police clashed with firefighters protesting in Paris against their working conditions and demanding more pay.

Thousands of firefighters attended the Tuesday protest in the French capital, asking for an increase of their hazard bonus, which has not changed since 1990.

Police fired tear gas and hit some protesters with batons.

In October, firefighters also protested in Paris, calling for better pay, guarantees of their pension benefits and greater respect for their profession.

BRUSSELS, Jan 29 (NNN-Xinhua) — The European Union (EU) will study and assess the U.S. Middle East peace plan announced by the U.S. President Donald Trump, said Josep Borrell, EU high representative for foreign affairs and security policy, in a declaration.

The top EU diplomat pledged the EU’s “firm and united commitment to a negotiated and viable two-state solution”, reaffirming the EU’s readiness for resuming negotiations between Israel and Palestine.

MOSCOW, January 28. /TASS/: The armored division of Russia’s Central Military District eliminated a notional enemy jointly with reconnaissance squads during drills at a training range in the Chelyabinsk Region, the District’s press office reported on Tuesday.

Under the drills’ scenario, a tank regiment was advancing onto the enemy’s heavily echeloned defense, attacking its fortified fire positions of grenade launchers and heavy machine guns from the march and engaging its combat outposts and basic strike forces, the press office said in a statement.

MOSCOW, January 28. /TASS/: Moscow cannot comment on the so-called "deal of the century", Washington’s plan on regulating the Palestine-Israel conflict, as it is unaware of the document’s contents, Kremlin Spokesman Dmitry Peskov told reporters on Tuesday.

"We cannot say anything until we become acquainted with its contents," he said, answering a corresponding question.

MOSCOW, January 28. /TASS/: Russia supports the actions by the Syrian army to eliminate terrorist provocations in the Idlib zone, Russian Foreign Minister Sergey Lavrov said Tuesday.

"A ceasefire brokered by Russia and Turkey was declared in early January. Since then, the radicals entrenched in Idlib violated it dozens of times, attacking both civilian objects and Syrian army positions. Attempts to attack Russia’s Hmeymim airbase with drones also won’t stop," Lavrov said.