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Europe Business

Myanmar's Rohingya panel head refutes criticism by outgoing secretary

08h51 The chairman of an international panel set up by Myanmar to advise on the Rohingya crisis has rebutted criticism by the body's former secretary, saying the panel is effective and the government has acted. . .  Full story

Britain's IWG gives three suitors more time to make takeover offers

21/07 London-listed serviced office provider IWG has given three of its four suitors more time to make firm offers or walk away from bids for the company, the firm said on Saturday.. . .  Full story

U.S. oil industry lobbies against tighter sanctions on Russia

21/07 The U.S. oil and gas industry is lobbying against tighter sanctions on Russia that could impact U.S. investments there, congressional sources said on Friday.. . .  Full story

S&P raises outlook on Greece, affirms rating

20/07 S&P Global Ratings said on Friday it raised its outlook on Greece to positive from stable while affirming its B-plus/B ratings.. . .  Full story

Oil strengthens as dollar slips to four-day low

20/07 Oil prices rose on Friday as a weakening dollar and lower expected August crude exports from Saudi Arabia supported the market, offsetting concerns about U.S.-China trade tensions and supply increases.. . .  Full story

GlaxoSmithKline considers splitting up the group - FT

20/07 GlaxoSmithKline Plc is considering a break-up of the group after investors pressed the company's board to spin off its consumer division, the Financial Times reported on Friday.. . .  Full story

Swiss, German drugmakers join U.S. price freeze

20/07 European drugmakers Roche , Bayer and Merck KGaA became the latest companies to freeze prices in the United States for the rest of 2018 following criticism by President Donald Trump over the cost of medicine.. . .  Full story

Prices slide as demand retreats in Japan, China, South Korea

20/07 Asian spot liquefied natural gas (LNG) prices softened for another week as the focus of purchasing activity switched to September, encountering weak demand, new supply and a falling yuan potentially sapping Chinese demand.. . .  Full story

Renewed political unease in Rome knocks Italian bonds

20/07 Italian government bond yields rose on Friday after local media reported on tensions within the ruling coalition and a newspaper interview with a lawmaker raised more concerns about Rome's commitment to the euro.. . .  Full story

Disappointing earnings, trade tensions weigh on European shares

20/07 European shares fell on Friday as earnings updates disappointed, with auto stocks bearing the brunt of trade tensions that caused a selloff in the Chinese yuan overnight.. . .  Full story

Copper bounces on short-covering as inventories slide

20/07 Copper received a boost from short-covering and falling inventories on Friday following steep losses that had been driven by trade tensions.. . .  Full story

Defensive shares keep Britain's FTSE aloft

20/07 The UK's top share index held its ground on Friday, slightly outperforming a broadly negative European market, as global trade uncertainty and political troubles closer to home spurred demand. . .  Full story

Italy's new bank to invest 3 bln euros in bad loans, chase high-margin debt

20/07 An Italian bank being set up with backing from former Barclays chief Bob Diamond said on Friday it aimed to trounce industry returns by chasing higher-margin borrowers and going digital to keep costs down.. . .  Full story

As wheat harvest heads to parched north, Europe braces for more losses

20/07 Europe's grain market is bracing for more downgrades to the size of this year's wheat crop as harvesting reaches the northern regions that have been worst hit by exceptional drought and heat since spring.. . .  Full story

Under pressure at home, May demands new deal from EU on Irish border

20/07 British Prime Minister Theresa May on Friday called on the European Union to strike a new deal to prevent a hard border in Northern Ireland and demanded Brussels quickly respond to her plan to. . .  Full story

Strike threats to North Sea oil platforms ramp up

20/07 Unite the Union members working for Aker Solutions on Equinor's Mariner oil platform were the latest to threaten strike action over pay, Britain's largest workers union said on Friday.. . .  Full story

COLUMN-Tariffs lay bare Washington's rare earths dilemma: Andy Home

20/07 The United States Defense Logistics Agency (DLA) is aiming to buy 10 tonnes of yttrium oxide this year.. . .  Full story

Russia largely wins fertiliser case against Ukraine at WTO

20/07 A dispute panel of the World Trade Organization (WTO) largely ruled in favour of Russia on Friday in a case brought against Ukraine on anti-dumping measures imposed on imported ammonium nitrate used in fertiliser.. . .  Full story

UK union to ballot 2,500 offshore oil workers for strike

20/07 Offshore oil services workers will be balloted for potential strike action after they rejected a pay increase offer by the Offshore Contractors Association (OCA), Britain's union Unite said on Friday.. . .  Full story

RBS to close small firms redress scheme to new claims

20/07 Royal Bank of Scotland said a scheme to compensate small firms hurt by its restructuring unit will close to new complaints after it paid out just 10 million pounds ($13 million) so far for. . .  Full story

China steps up regulations on wealth management products, asset management business

20/07 China released draft rules and guidelines to strengthen regulations of financial institutions' wealth management and asset management businesses, the latest step by Beijing to fend off systemic financial risks.. . .  Full story

UK's Brexit plans useful, but questions remain - Barnier

20/07 Britain's proposals on its future relationship with the European Union contain constructive elements, but many questions remain, EU chief Brexit negotiator Michel Barnier said on Friday.. . .  Full story

Court blow to tax plans aimed at funding cheap Kenyan housing

20/07 Kenya's High Court has temporarily blocked tax hikes designed to fund a range of government development goals, including the provision of affordable housing.. . .  Full story

French wheat crop to fall to 34.2 mln T, quality good - Agritel

20/07 Soft wheat production in France, the European Union's largest grain grower, will fall sharply to 34.17 million tonnes this year after heavy rain hurt yields, but good crop quality could boost export prospects, consultancy Agritel. . .  Full story

Naftogaz clarifies stance on Gazprom, says owed more than $2.56 bln

20/07 Ukraine's Naftogaz on Friday clarified its stance on negotiations with Gazprom by saying that the Russian gas producer must pay it more than $2.56 billion.. . .  Full story

Ireland says EU reaction to UK Brexit white paper lukewarm - minister

20/07 Ireland's foreign minister said on Friday reaction from EU capitals to British Prime minister Theresa May's Brexit white paper was lukewarm but said there was agreement it formed the basis for negotiations.. . .  Full story

Italy government picks CEO of CDP and Treasury DG -sources

20/07 The Italian government has agreed to appoint Fabrizio Palermo as the new CEO of state lender Cassa Depositi e Prestiti (CDP) and Alessandro Rivera as director-general of the Treasury, political sources said on Friday. The decision. . .  Full story

WTO panel to examine U.S. complaint on Canadian wine sale restrictions

20/07 The World Trade Organization set up a dispute panel on Friday to rule on a U.S. complaint against restrictions in Canada's province of British Columbia on wine sales in grocery stores, a WTO official. . .  Full story

WH Ireland says Kuwaiti investor transfers stake in firm

20/07 WH Ireland Group said on Friday that its second biggest investor, Kuwaiti European Holding Group (KEH), had transferred ownership of its 23.1 percent stake in the financial services company. The British stockbroker said the transfer. . .  Full story

Europe must spend more wisely by consolidating weapons systems, Merkel says

20/07 Europe must work over coming years and decades to harmonise the many different weapons systems its armed forces deploy, both to use military budgets more efficiently and strengthen the continent's military contractors, German Chancellor Angela. . .  Full story

Sweden's Telia expands media business with $1 bln deal for Bonnier Broadcasting

20/07 Sweden's Telia Company announced a $1 billion deal to buy Bonnier Broadcasting on Friday, its second major acquisition in a week as the top Nordic telecoms operator looks to expand its media business.. . .  Full story

EU drug regulators step up work to prepare for 'no deal' Brexit

20/07 Drug regulators across Europe are hiring extra staff and increasing their workload as the role of British experts in the EU-wide system of medicines supervision winds down ahead of Brexit.. . .  Full story

HSBC account freezes still hurting customers, a year on

20/07 After a year laying the groundwork for his Karachi-based clothing company's expansion to Europe, businessman Abdul Aziz was poised to start delivery to British shops such as TK MAXX.. . .  Full story

Italian govt has reached agreement on CDP nominations -source

20/07 The Italian government has reached a deal on who should take charge of state lender Cassa Depositi e Prestiti (CDP), a government source said on Friday, ending weeks of tension over the sensitive appointments.. . .  Full story

U.S., euro zone growth readings to tell story of divergence

20/07 The U.S. and euro zone economies remain a world apart and growth data due in the coming days will only highlight the widening gap, suggesting that monetary policy will continue to move in opposing. . .  Full story

Remy's Q1 sales beat forecasts as demand in China proves strong

20/07 Strong demand from China helped cognac sales at French spirits group Remy Cointreau beat expectations, with the figures lifting its share price on Friday.. . .  Full story

Irish residential property slows in May

20/07 Irish house prices grew 12.4 percent in the year to May, down from 13.5 percent in the year to April as Central Bank rules limit leverage levels.. . .  Full story