Europe Business

Eni, Total among winners of rights to develop Angolan "frontier" blocks

17/01 Italian oil major Eni and France's Total were among the successful bidders for rights to develop three offshore blocks in Angola out of 10 auctioned late last year, the country's petroleum regulator said on Thursday.  Full story

Czech central bank's Rusnok: rates very likely stable -Lidove Noviny

01h00 Czech interest rates are very likely to stay stable in 2020 or rise slightly if they do move, central bank Governor Jiri Rusnok was quoted as saying on Saturday.. . .  Full story

UK expected to open trade talks with US before negotiating with EU - the Telegraph

00h28 British Prime Minister Boris Johnson is expected to start trade talks with the United States before negotiating with the European Union, the Telegraph reported on Friday.. . .  Full story

Oil steadies as Chinese economy offsets trade optimism

17/01 Oil prices steadied on Friday as sluggish economic growth in China, the world's biggest crude importer, raised concerns over fuel demand and countered optimism from the signing of a China-U.S. trade deal.. . .  Full story

Italy's Atlantia ready to discuss motorway contract changes -sources

17/01 Atlantia has indicated to the Italian government it is prepared to discuss changes to the motorway contract held by its Autostrade per l'Italia unit to end a standoff over its tollway concession, two sources. . .  Full story

European shares touch all-time peak on cross-Atlantic trade optimism

17/01 European shares clocked a record closing high on Friday after EU Trade Commissioner Phil Hogan struck a positive tone on talks with Washington and on optimism over signs of resilience in China's economy.. . .  Full story

Chinese data holds copper near eight-month high

17/01 Copper prices hovered near eight-month highs on Friday as expectations of stronger demand from top consumer China were boosted by better than expected economic data and optimism for a U.S.-China trade agreement.. . .  Full story

FTSE 100 hits five-month high on China GDP and weak pound

17/01 London's FTSE 100 rose to a more than five-month high on Friday as China's economic growth met expectations and the pound slid after weak British retail sales raised the prospect of an imminent interest. . .  Full story

Italian bonds rally after change in electoral law rejected

17/01 Italian government bonds rallied and outperformed their euro zone peers on Friday after Italy's highest court rejected a proposed change in electoral law that would probably have benefited the far-right League.. . .  Full story

Green Investment Group agrees power supply deal with Eramet Norway

17/01 Macquarie's Green Investment Group said it has entered into two long-term power purchase agreements with Eramet Norway to supply power to its Norwegian smelters from two wind farms.. . .  Full story

Wall Street's trillion-dollar club dwarfs Europe Inc

17/01 With Google parent Alphabet becoming the latest entrant to Wall Street's trillion-dollar club, Europe's blue-chip companies are dwarfed by comparison -- the most valuable firm from the "old continent", Nestle, is worth just a third. . .  Full story

Italy's 2019 budget deficit to be lower than expected - cenbank

17/01 Italy's 2019 budget deficit was probably below the government's official target of 2.2% of gross domestic product and the lowest for more than a decade, the Bank of Italy said on Friday.. . .  Full story

Continental's Vitesco expects margins to take a hit from electric shift

17/01 Vitesco, the powertrain division of auto supplier Continental, faces margin pressure as it shifts its business beyond combustion engines, which make up 90% of revenues, to capture growth from electromobility, Chief Executive Andreas Wolf said.. . .  Full story

Mali's new mining code sets "stability period" at 20 years

17/01 Under a new mining code, companies operating in Mali will be protected from fiscal changes for 20 years, down from the previous "stability period" of 30 years, the mines minister said. . .  Full story

Europe Inc. eyes end to corporate recession in Q4

17/01 Europe Inc. is likely to have turned the page on nine months of falling profits during the final quarter of 2019, but sky-high share price valuations and lofty earnings expectations for 2020 set a. . .  Full story

HSBC cutting around 100 staff in equities business -sources

17/01 HSBC is cutting around 100 roles in its equities business with the bulk of the layoffs falling on its continental European trading floors, sources familiar with the matter told Reuters.. . .  Full story

German power grid firms need sharp rise in renewable generation capacity by 2035

17/01 Germany's four power grid operators said on Friday that a sharp rise in the country's renewable generation capacity was needed over the next 15 years to meet demand from the electrification of heating, transport and. . .  Full story

Palm clocks worst weekly fall in over 11 years as India's curbs weigh

17/01 Malaysian palm futures fell 1.5% on Friday and recorded their worst weekly decline in more than 11 years, dragged down by India's import restrictions on the refined product and an export tax hike.. . .  Full story

Rain-hit French wheat sowing seen down 10% at 19-year low -survey

17/01 The area sown with soft wheat for this year's harvest in France, the European Union's biggest grain producer, is estimated to have declined by 10% compared with 2019 to a 19-year low after heavy. . .  Full story

UK consumers cut back on spending again, adding to economic gloom

17/01 British consumers failed to increase their spending for a record fifth month in a row in December, adding to signs of economic weakening that might prompt the Bank of England to cut interest rates. . .  Full story

Union: Need measures that go beyond strikes to put pressure on Lufthansa

17/01 German cabin crew union UFO said on Friday that it believed measures that go significantly beyond strikes it has already staged were the only way to put sufficient pressure on Lufthansa in a dispute. . .  Full story

ENI's Agogo oilfield in Angola begins output at 10,000 bpd

17/01 ENI has started production at its Agogo oilfield offshore Angola at 10,000 barrels per day (bpd), state news agency Angop reported late on Thursday, and output is expected to double in the coming months.. . .  Full story

Casino shares sink after profit warning, pain spreads to Carrefour, Darty

17/01 Shares in Casino sank 10% on Friday after the debt-laden retailer slashed its forecast for 2019 French operating profit, citing the impact on its fourth-quarter sales of transport strikes in France against pension reforms.. . .  Full story

NMC independent committee taps FBI ex-boss Freeh in Muddy Waters fight

17/01 Private healthcare provider NMC Health , hurt by short-selling by Muddy Waters, said on Friday an independent review committee looking into the matter had hired FBI ex-boss Louis Freeh.. . .  Full story

Capital Research, GIC investing in Thailand's Central Retail IPO

17/01 Thailand's largest retailer, Central Retail Corp, said Singapore sovereign wealth fund GIC and funds advised by U.S. investor Capital Research Management Company are among international cornerstone investors backing its IPO, worth up to $2.4 billion.. . .  Full story

Hong Kong regulator tells banks to do more to prepare for the end of Libor

17/01 Hong Kong banks must step up efforts to prepare for the end of the discredited Libor interest rate benchmark, a senior official of the city’s central bank said on Friday, joining the chorus of. . .  Full story

Smaller Woodford fund to be reopened no later than February

17/01 LF Woodford Income Focus Fund, one of the smaller funds formerly run by famed investment manager Neil Woodford, will be reopened no later than February this year, its authorised corporate director Link Fund Solutions. . .  Full story

Flybe discussing loan on commercial terms with government -BBC

17/01 Struggling British regional airline Flybe is in talks with the government about a loan on commercial terms which would not represent a state bailout, the BBC reported on Friday.. . .  Full story

UK insurer Hastings warns on profit as claims costs bite, shares tumble

17/01 Motor insurer Hastings on Friday said it expects a 42% plunge in annual earnings and cut its dividend because of rising claims costs, sending its shares down more than 7%.. . .  Full story

Renault expects slight 2020 car market decline in Europe, Russia and China

17/01 Renault said on Friday it expected a slight decline in the car market in Europe, Russia and China this year after the French carmaker reported a 3.4% fall of worldwide sales in 2019 as. . .  Full story

British Airways-owner IAG lifts ownership restrictions, boosting shares

17/01 British Airways-owner IAG lifted a restriction on non-EU investors' ability to buy its stock, helping boost its share price by more than 5%.. . .  Full story

Online gambling to boost GVC's profit as tougher rules loom

17/01 Ladbrokes-owner GVC said on Friday annual core earnings would be at the top end of its forecast, as stronger demand for online gambling buffers a hit from a bruising regulatory clampdown on slot. . .  Full story

Data firm Experian revenue rises on strong B2B market

17/01 Experian, the world's largest credit data company, on Friday posted a 7% rise in third-quarter organic revenue, driven by increasing popularity of its analytics products for businesses.. . .  Full story

UK Stocks-Factors to watch on Jan 17

17/01 Britain's FTSE 100 index is seen opening 13 points higher at 7,623 on Friday, according to financial bookmakers, with futures up 0.3% ahead of the cash market open.. . .  Full story

Indian court rejects plea for relief on $13 bln telco levy; Vodafone tumbles

17/01 Shares of Vodafone Idea fell as much as 40% on Friday, losing $975 million in market value, after India's top court rejected mobile carriers' petitions for a review of its order to pay billions. . .  Full story

Volkswagen to buy 20% of Chinese battery maker Guoxuan amid electric push -sources

17/01 Volkswagen AG is set to take a 20% stake in Chinese electric vehicle battery maker Guoxuan High-tech Co Ltd, two sources told Reuters, as the German firm accelerates its electric push into the world's largest. . .  Full story

China investment agreement negotiations enter 'critical stage'- EU ambassador

17/01 Negotiations on an investment agreement between the European Union and China are progressing and have entered a "critical stage" after six years of talks, a senior EU official said on Friday.. . .  Full story

India's Jet Airways to sell Netherlands business to KLM

17/01 Bankrupt Indian airline Jet Airways Ltd said it had agreed to sell its assets in Netherlands to Dutch airline KLM.. . .  Full story

Australia, NZ shares scale fresh peaks on Wall Street strength, trade deal

17/01 Australian shares extended gains to a fresh high on Friday, tracking a robust lead from Wall Street, on continued optimism stemming from a long-awaited preliminary U.S.-China trade pact.. . .  Full story

Bank of England to hold steady on Jan. 30 but chance of a cut high

17/01 The Bank of England is likely to keep borrowing costs steady on Jan. 30, the eve of Britain's departure from the European Union, but there is a significant chance it will opt to trim. . .  Full story

COLUMN-LME stock surge grounds high-flying nickel, but for how long? Andy Home

17/01 Nickel, the best performer among the base metals last year, is currently getting a reality check in the form of surging exchange stocks.. . .  Full story

Australia's Nufarm sees H1 core profit down 50% amid 'extreme climatic conditions'

17/01 Australian crop protection firm Nufarm Ltd said on Friday its first-half core earnings will likely halve from last year, citing challenging conditions across its markets and domestic "extreme climatic conditions".. . .  Full story

British Airways often worse than rivals on emissions -consumer group

17/01 British Airways flights can pump out more carbon emissions per passenger than rival airlines on certain routes, according to the consumer group "Which?". . .  Full story

Rio Tinto's full-year iron ore shipments drop on disruptions from cyclone and fire

17/01 Rio Tinto on Friday posted a 3% drop in iron ore shipments in 2019 as the Anglo-Australian miner's operations faced disruptions due to cyclone and a fire at a port facility.. . .  Full story

Miner Rio Tinto posts 3% drop in full-year iron ore shipments

16/01 Rio Tinto on Friday posted a 3% drop in iron ore shipments for the full year as the Anglo-Australian miner's operations were disrupted last year by cyclone and fire.. . .  Full story

Oil ends higher, as trade deal progress spurs energy demand hopes

16/01 Oil rose about 1% on Thursday, as progress on another major trade deal fed optimism that energy demand will grow in 2020, which offset bearish market comments from the International Energy Agency.. . .  Full story

Gold slips as signing of trade deal, U.S. data prop up stock markets

16/01 Gold slipped on Thursday as the safe-haven metal was hurt by upbeat U.S. economic data that signalled a healthy economy and as stock markets climbed on optimism over the signing of the U.S.-China Phase. . .  Full story

France seeks to shield EDF, consumers with nuclear power market reform

16/01 The French government plans to introduce a "price corridor" for France's wholesale nuclear power market that will enable state-controlled utility EDF to cover its costs while shielding consumers from volatile electricity price spikes.. . .  Full story

Bank of Portugal scrutinises Isabel dos Santos' Eurobic

16/01 Portugal's central bank is carrying out an inspection of small local lender Eurobic, in which Angolan billionaire and former first daughter Isabel dos Santos is the main shareholder, to assess its procedures against money laundering,. . .  Full story

Germany's RWE to cut one in three jobs in $2.9 bln coal exit deal

16/01 RWE, Germany's biggest power producer, will cut about 6,000 jobs, or nearly a third of its current workforce, by 2030 as the country moves to phase out brown coal as an energy source, the. . .  Full story

European shares rise as U.S.-China trade deal clears fog; London lags

16/01 European shares ended higher on Thursday after the signing of a long anticipated Phase 1 U.S.-China trade deal lifted some level of near-term uncertainty, while disappointing earnings dragged down London shares.. . .  Full story

Copper hovers around 8-month highs as market weighs trade deal

16/01 Copper touched an eight-month high on Thursday after the United States and China inked an initial deal in a prolonged trade dispute, boosting hopes for a revival in metals demand.. . .  Full story

FTSE 100 falls behind Europe as earnings disappoint

16/01 Underwhelming trading updates from Pearson and Whitbread broke a three-day winning run for London's main index on Thursday, while investors exercised caution amid a lack of clarity on some elements of the U.S.-China trade. . .  Full story

Euro zone bonds pause after bond sales, US-China trade deal

16/01 Most euro zone bond yields were marginally lower on Thursday, with German Bund yields just below two-week highs following the signing of an initial U.S.-China trade deal and two days of sizeable new bond. . .  Full story

Thailand's Central Retail cuts target IPO price to lower end of initial range

16/01 Thailand's Central Retail Corp, which is on track for the country's largest public float, cut the price range for its initial public offering to 40 to 43 baht per share, it said in a. . .  Full story

Union talks with Lufthansa yield no results

16/01 Talks between Germany's largest airline Lufthansa, flight attendants' union UFO and two potential mediators have not yielded any results on Thursday, the company and the union said.. . .  Full story

INTERVIEW-World Bank to invest $340 million in 2020 to boost Serbia's growth

16/01 The World Bank plans to allocate $340 million in loans to Serbia in 2020 to help it improve its business environment, infrastructure and mining, the bank's country manager, Stephen Ndegwa, told Reuters on Thursday.. . .  Full story

European firms call for tougher EU approach to China

16/01 European companies called on European Union policy-makers on Thursday to toughen their approach to China to secure a level playing field for European businesses.. . .  Full story

Ryanair boss joins condemnation of UK bailout of Flybe

16/01 The boss of Irish low-cost airline Ryanair has attacked the UK government-backed rescue of regional airline Flybe, joining industry heavyweight Willie Walsh in opposing state help for a private company.. . .  Full story

German carmakers, unions urge more government help for electric shift

16/01 Germany's automakers and unions urged the government on Thursday to do more to support the industry's shift to electric cars, which provide less assembly work than combustion engine vehicles.. . .  Full story

Nestle to invest billions to boost use of recycled plastics

16/01 Food giant Nestle will invest up to 2 billion Swiss francs ($2.07 billion) to source more recycled plastics for packaging its products and reduce its use of new plastics by a third by 2025,. . .  Full story

U.S. firm GIP, Shell-Cosan venture plan to bid on Brazil refineries -sources

16/01 U.S.-based financial firm Global Infrastructure Partners (GIP) is planning a joint bid with Brazil's fuel distribution company Raízen for refineries put on the block by Petroleo Brasileiro SA, two sources with knowledge of the matter. . .  Full story

Slovenia central bank says Q4 economic data weak

16/01 Available Slovenian economic data for the last quarter of 2019 is "relatively weak" while uncertainty in the international environment remains significant, the Bank of Slovenia said on Thursday.. . .  Full story

LME stock surge grounds high-flying nickel, but for how long? Andy Home

16/01 Nickel, the best performer among the base metals last year, is currently getting a reality check in the form of surging exchange stocks.. . .  Full story

Italian court confirms ING new customer ban in money laundering case

16/01 An Italian court on Thursday backed a decision last year by supervisors at the Bank of Italy prohibiting Dutch lender ING from taking on new customers in Italy over a money laundering case.. . .  Full story

Spanish retailer Dia under investigation over financial accounts

16/01 A Spanish magistrate has launched a criminal investigation into suspected account-fiddling at retailer Dia under its previous management, before Russian oligarch Mikhail Fridman took over the near-insolvent company last year.. . .  Full story

Germany adds brown coal to energy exit under landmark deal

16/01 Germany is set to become the first country to drop both nuclear and coal power under a landmark agreement to compensate workers, companies and regional governments as it switches off brown coal-fired plants by. . .  Full story

Poland and Germany to be top beneficiaries of 100 bln euro EU climate fund

16/01 Poland and Germany will be the biggest beneficiaries of a new 100-billion-euro ($112 billion) EU fund designed to help coal-dependent regions move towards a greener economy, European Commission data showed on Thursday.. . .  Full story

UK's Stobart invests $12 mln in rescue of airline Flybe

16/01 Britain's Stobart Group will provide 9 million pounds ($11.8 million) in funding for Flybe as part of this week's government-backed rescue of the regional airline, the infrastructure group said on Thursday.. . .  Full story

BNY Mellon profit falls short on lower interest rates

16/01 Bank of New York Mellon Corp missed analysts' estimates for quarterly profit on Thursday, as the world's largest custodian bank earned less from its interest-earning assets due to rate cuts by the Federal Reserve.. . .  Full story

Pearson shares slide as print-to-digital switch hurts profits

16/01 Shares in British publisher Pearson slumped to their lowest in more than a decade on Thursday after it said operating profit would be lower this year because of sharp declines in sales at its. . .  Full story

Germany to cancel emissions allowances of shut-down lignite plants

16/01 Germany plans to cancel the emission allowances of lignite-fired power plants to be shut down as part of a broader effort to phase-out the fuel, a spokesman for the country's Environment Ministry said on Thursday.. . .  Full story

Stobart invests 9 mln stg in regional airline Flybe

16/01 Infrastructure company Stobart Group said on Thursday it is investing 9 million pounds in Flybe, the privately owned regional airline that was rescued by the British government this week. (Reporting by Muvija M in Bengaluru Editing. . .  Full story

UK housing market gets a boost from election - RICS

16/01 Britain's housing market got a boost from Prime Minister Boris Johnson's big election win in December, a survey showed on Thursday, a pick-up that will be noted by the Bank of England as it. . .  Full story

Bangladesh would buy Ukrainian wheat if Russian grain unavailable

16/01 Bangladesh will increase its wheat purchases from Ukraine if Russian grain becomes unavailable because of new export curbs being considered by Moscow, Bangladesh's agriculture minister Abdur Razzak said on Thursday.. . .  Full story

Estonia expands Danske laundering probe to cover up to $2 bln of transfers

16/01 Estonian authorities have expanded their investigation into alleged money laundering through Danske Bank's local branch to cover transfers of up to $2 billion, the Estonian prosecutor said on Thursday.. . .  Full story

Electric bikes for climate-conscious Christmas boost Halfords

16/01 Halfords is on track to meet profit forecasts after underlying cycling sales grew 5.9% in its third quarter, helped by strong Christmas demand for electric bikes as consumers become more climate-conscious, it said on Thursday.. . .  Full story

Strategie Grains raises EU wheat export outlook on brisk demand

16/01 Consultancy Strategie Grains increased sharply its forecast of European Union soft wheat exports this season, saying it saw the EU benefiting from strong overseas demand at a time of reduced availability in some other export. . .  Full story

No need to be so gloomy about UK consumer, says Primark boss

16/01 British retailers are being too gloomy about the consumer outlook because the fundamentals of the UK economy are still sound, the finance chief of Primark owner Associated British Foods said on Thursday.. . .  Full story

EU Commission bans Bayer pesticide linked to harming bees

16/01 The European Commission decided on Monday not to renew approval for a pesticide linked to harming bees, effectively banning Bayer's insecticide known as thiacloprid.. . .  Full story

Britain's Moss Bros, N Brown deepen retailing malaise

16/01 Moss Bros and N Brown added to a depressed outlook for British retailers on Thursday by saying fewer shoppers were visiting their stores, which would hit full-year results.. . .  Full story

Bank of England threatens to use "tools" to scrap Libor

16/01 The Bank of England warned on Thursday that it could force banks and insurers to hold more capital or use other "supervisory tools" as market momentum for ditching the tarnished Libor interest rate benchmark. . .  Full story

No post-election business bookings bounce for Premier Inn

16/01 Premier Inn owner Whitbread reported a 2.2% fall in UK like-for-like sales year to date on Thursday, cautioning clarity on Brexit following a decisive British election last month had yet to deliver a bounce. . .  Full story

German economic growth to slow further in 2020 - BDI

16/01 Germany's BDI industry association said on Thursday it expected German economic growth to slow further this year as there are no signs of improvement in the struggling manufacturing sector.. . .  Full story

Tokyo Gas opens new hydrogen station ahead of Olympics in clean energy drive

16/01 Tokyo Gas Co Ltd opened on Thursday its fourth and largest hydrogen refuelling station, capable of refuelling 20 fuel-cell (FC) buses daily, as part of a drive to showcase the nation's clean energy technology. . .  Full story

European firms get 'crumbs' from China's Belt and Road -business group

16/01 China's Belt and Road investment scheme, which aims to connect Europe with Asia, is sidelining European companies and Brussels should review its competition law to level the playing field, a business lobby group said. . .  Full story

HelloFresh shares jump on stronger than expected 2019

16/01 Shares in HelloFresh jumped 13% on Thursday after the German meal-kit delivery company said it expects to beat its guidance for sales and profits for 2019.. . .  Full story

Germany pledges companies billions in compensation for coal exit

16/01 German Finance Minister Olaf Scholz pledged billions in compensation to companies affected by a plan to shutter the country's brown coal-fired power stations by 2038, telling a news conference that a law promoting renewables would. . .  Full story

Belarus in talks with Latvia over oil supply from Baltic ports - Latvia PM

16/01 The leaders of Latvia and Belarus are discussing supplying oil to Belarus from Latvia's Baltic Sea ports, Latvian Prime Minister Arturs Karins said on Thursday.. . .  Full story

Wood Group forecasts higher core earnings, shares jump

16/01 Oilfield services provider John Wood Group forecast higher 2019 core earnings on Thursday, with strong performance in its engineering services unit in the Middle East, Asia and the Caspian region offseting slowing U.S. onshore drilling. . .  Full story

Austrian property group S Immo takes 149 mln euro capital increase

16/01 Austrian property group S Immo said it collected 149 million euros ($166 million) in fresh funds via an overnight capital increase, which it intends to spend for further growth.. . .  Full story

Germany to compensate RWE with 2.6 bln eur for coal exit - sources

16/01 The German government plans to compensate utility RWE with around 2.6 billion euros ($2.9 billion) for costs related to the country's planned coal exit, two government sources said on Thursday.. . .  Full story

Asia Coffee-Sluggish trading in Vietnam ahead of Lunar New Year

16/01 Vietnam coffee prices fell in lacklustre trading ahead of a long holiday, while activity in Indonesia remained subdued on scarce stock and is not expected to pick up until March, traders said on Thursday.. . .  Full story

PSA Group 2019 sales slump 10% after record 2018

16/01 French carmaker PSA Group said on Thursday global sales fell 10% last year to 3.49 million units, compared with a record 3.88 million in 2018, as it suffered from declining volumes in China, the. . .  Full story

UK Stocks-Factors to watch on Jan 16

16/01 Britain's FTSE 100 index is seen opening down 12 points at 7,631 on Thursday, according to financial bookmakers, with futures up 0.1% ahead of the cash market open.. . .  Full story

Euro zone banks earn more from lending despite moans over negative rates

16/01 Euro zone banks increased their net interest income in the first nine months of last year, despite incessant complaints that negative central bank rates are wiping out their most basic form of income, data. . .  Full story

Genel sticks to dividend growth plans as KRG payments resume

16/01 London-listed oil and gas producer Genel said on Thursday it expected free cash flow of around $100 million in 2020 would underpin planned growth in dividends, despite delayed payments from authorities in Iraqi Kurdistan.. . .  Full story

Firm linked to Nigerian oil firm Lekoil welcomes loan scam probe

16/01 A consultancy firm that allegedly arranged a fraudulent $184 million loan announced by Nigerian oil company Lekoil Ltd said on Wednesday that it welcomed an investigation into the matter.. . .  Full story

Credit Suisse still has questions to answer in spying affair says watchdog

16/01 Credit Suisse still has questions to answer about its surveillance activities which came to light last year, the head of Switzerland's financial watchdog on Thursday.. . .  Full story

Nivea-maker Beiersdorf optimistic for 2020 despite slowdown

16/01 German consumer goods firm Beiersdorf said it was "cautiously optimistic" for 2020, despite reporting another quarter of slowing sales growth for its skincare and adhesives units.. . .  Full story

Italy and eastern Europe help Geberit Q4 organic sales rise 1.9%

16/01 Geberit reported a 1.9% increase in organic sales during its fourth quarter, the plumbing supplies company said on Thursday, helped by strong demand in eastern Europe and Italy.. . .  Full story

Foreign investment banks with majority stakes in China units

16/01 The world's biggest investment banks will be able to wholly own their China securities businesses from April 1 as the U.S.- China Phase 1 trade deal accelerates a previous deadline for removing foreign ownership caps. . .  Full story