euronews

Crude prices weaken

Mon, 13 Jul 2009 20:54:00 +0200

One year after hitting $147.50 a barrel, oil prices remain weak near a seven-week low. That is due to concerns about the state of the global…

Euro markets gently down at close

Tue, 07 Jul 2009 19:45:11 +0200

European markets finished down across the board on worries that earnings will fail to justify recent rises. London's FTSE closed 0,2, while in Paris…

French car scrappage scheme to end

Mon, 13 Jul 2009 20:54:00 +0200

The French government is planning to gradually phase out its scheme to help carmakers through the economic downturn by encouraging drivers to trade…

Monday 13th July

Mon, 13 Jul 2009 20:54:00 +0200

European shares have rebounded and finished up over two percent. Stocks reversed course during the afternoon and heading higher after hitting…

Peugeot-Citroen sales fall

Tue, 07 Jul 2009 19:45:11 +0200

French carmaker Peugeot-Citroen has announced a fall in sales of 14 per cent in the first half of this year. PSA declined to speculate on the future,…

Philips sees brighter future

Mon, 13 Jul 2009 20:54:00 +0200

Philips Electronics has signalled brighter business prospects for the rest of this year and surprised the market with a return to profit in the…

Sahara solar power plants plan

Mon, 13 Jul 2009 20:54:00 +0200

Making money from the sun is the aim of businesses that gathered in Germany on Monday to set up something called the Desertec Industrial Initiative.…

China eyes Repsol Argentina deal

Tue, 07 Jul 2009 19:45:11 +0200

China's largest oil company, CNPC, is in talks to buy 75 per cent of Spanish counterpart Repsol's Argentinian arm. No firm details have been…

Monday 6th July

Mon, 06 Jul 2009 18:48:05 +0200

European bourses have continued their decline for a third straight week,hitting their lowest in seven weeks. London, Frankfurt and Paris all…

UK factory production falls in May

Tue, 07 Jul 2009 19:45:11 +0200

UK factory production fell unexpectedly in May for the first time in three months, prompting fears the British economy is still mired in recession.…

Ecofin debates recession exit strategy

Tue, 07 Jul 2009 19:45:11 +0200

Europe's finance ministers have poured some cold water on the idea that the world is pulling out of recession. Meeting in Brussels, they said it is…

Markets hit by unemployment rises

Thu, 02 Jul 2009 19:43:06 +0200

Markets took something of a battering on Thursday as high unemployment figures made an end to the recession seem more distant. In Europe,…

Porsche still only talking to Qatar

Mon, 06 Jul 2009 18:48:04 +0200

Porsche is denying a report that five more potential bidders have emerged for a Porsche-owned derivatives package which controls around 20 percent of…

European markets bouyant as decline slows

Wed, 01 Jul 2009 19:26:53 +0200

At the close of the European markets in London the FTSE index closed up 1.89 per cent. Frankfurt's Dax also made gains as did the CAC 40 in Paris…

Pepsi investment shows Russia confidence

Mon, 06 Jul 2009 18:48:05 +0200

Soft drinks company PepsiCo says it believes the Russian market is effervescent and so plans to invest one billion dollars (720 million euros) there…

Banks told lend more money

Mon, 06 Jul 2009 18:48:05 +0200

World economic leaders are telling the commercial banks to must lend more. They say that is the best way to revive the economy which has been…

European markets fall on US confidence figures

Tue, 30 Jun 2009 20:08:58 +0200

Weaker than expected consumer confidence in the US weighed on European markets, underlining some analysts fears that hopes of recovery are somewhat…

'New GM' set to roll out

Mon, 06 Jul 2009 18:48:05 +0200

General Motors has moved a step closer to solvency. A bankruptcy court judge has said yes to the carmaker's most profitable assets coming out of…

Europeans shares rise on recovery hopes

Mon, 29 Jun 2009 19:31:30 +0200

European shares closed higher on Monday as investors become more confident about the prospects for recovery. Financials, boosted by broker upgrades…

German bad banks plan approved in Budesrat

Fri, 03 Jul 2009 19:51:14 +0200

Germany's lower house of parliament today approved the country's "bad banks" plan in a bid to end the worst German recession since the second world…

SocGen expects small Q2 profit

Mon, 06 Jul 2009 18:48:04 +0200

French bank Societe Generale has said it expects to post a small second-quarter net profit thanks to earnings from its corporate and investment…

Berlin warns Opel bidders to respect EU law

Fri, 03 Jul 2009 19:51:15 +0200

The bidding war over GM's European carmaker Opel is hotting up after China's state-owned BAIC put more money on the table on Friday in a bid to head…

Eurozone still struggles with recession

Fri, 03 Jul 2009 19:51:15 +0200

We are into 2009's second half but the economic figures show there is still no reliable sign of recovery in Europe. After two months of…

Friday 26th June

Fri, 26 Jun 2009 20:11:21 +0200

European shares closed half a percent lower. Drugmakers were the biggest losers. Sanofi-Aventis was down eight percent, extending the previous…

Summer fashions and food 'stabilise' M&S sales

Wed, 01 Jul 2009 19:22:20 +0200

Warm weather has boosted sales of summer fashions and food at Britain's biggest clothing retailer Marks and Spencer. The group reported its…

Thursday 25th June

Thu, 25 Jun 2009 19:44:01 +0200

European shares finished down, but had been much lower earlier in the session as investors reacted to the record decline in euro zone industrial…

Trichet talks to euronews

Fri, 03 Jul 2009 19:51:15 +0200

With Wall Street on a fourth of July holiday weekend it was up to Europe to cap the week on the markets, and they closed with a whimper, down…

Partners agree on Nabucco treaty

Fri, 03 Jul 2009 19:51:14 +0200

The intergovernmental treaty backing the Nabucco natural gas pipeline from the Caspian sea to Europe will be signed in Ankara on July 12th. The…

US plans to pursue UBS account holders

Wed, 01 Jul 2009 19:21:09 +0200

The US Justice Department is pressing ahead with plans to force the Swiss bank UBS - the world's largest manager of private wealth assets - to…

Wednesday 24th June

Wed, 24 Jun 2009 20:31:29 +0200

European shares finished the day sharply higher, up almost three percent. Among the factors boosting shares, the European Central Bank lent…

GM considers improved RHJ bid of Opel

Tue, 30 Jun 2009 20:08:58 +0200

Belgian-based holding company RHJ is reported to be buying a stake in Opel. It comes after talks between parent company GM and preferred bidder Magna…

Spanish recession deepens

Fri, 03 Jul 2009 19:51:15 +0200

May industrial output figures for Spain look grim, with a deeper-than-forecast 20.5 percent drop year on year. It is the 13th straight month of…

Tuesday 23rd June

Tue, 23 Jun 2009 20:55:03 +0200

European shares fluctuated through the session and finished the day at their lowest close in nearly six weeks. Investors traded cautiously as…

Bad news on the European job front

Thu, 02 Jul 2009 19:43:06 +0200

The unemployment rate in the 16-nation Eurozone has hit its highest level since the euro currency was introduced ten years ago. That is to say 9.5…

Monday 22nd June

Mon, 22 Jun 2009 19:36:28 +0200

European shares finished the day down three percent as investors reacted to a pessimistic forecast from the World Bank about a global recovery and as…

Porsche

Mon, 29 Jun 2009 19:30:30 +0200

Troubled luxury carmaker Porsche has turned down the advances of its humbler German cousin Volkswagen. It is rejected an offer for 49.9 percent…

Friday 18th June

Fri, 19 Jun 2009 20:24:47 +0200

European shares finished the day up one percent trimming the losses over the week. And the pan-European FTSEurofirst 300 index is now one…

GM to talk to regulators over Chinese Hummer bid

Mon, 29 Jun 2009 19:29:26 +0200

General Motors says it and Tengzhong will begin talking with regulators this week in a bid to obtain government approval for the Chinese company to…

US hit by dismal jobless figures

Thu, 02 Jul 2009 19:43:06 +0200

Another 467,000 Americans were laid off in June, many more than had been feared. The figures came in a Labor Department report that immediately had…

Eurozone interest rate stays put as expected.

Thu, 02 Jul 2009 19:43:07 +0200

The European Central Bank has kept its interest rates at the current record low of one percent. The Governing Council was in Luxembourg for one…

France may sell Areva stake

Fri, 26 Jun 2009 20:11:21 +0200

The French government is reportedly preparing to sell up to 15 percent of nuclear power firm Areva. A story in the Financial Times said the…

Wednesday 17th June

Wed, 17 Jun 2009 20:14:58 +0200

European shares finished down 1.74 percent, their lowest level in three weeks It was the fourth straight negative session for the region's…

German car sales hit record high

Thu, 02 Jul 2009 19:43:06 +0200

Germans bought more cars in the first half of 2009 than ever before. Nearly 2.06 million new vehicles were sold, a jump of 26 percent on the same…

Thursday 18th June

Thu, 18 Jun 2009 19:33:20 +0200

European shares have finished up 1.29 percent after a day of choppy trading due to the quarterly expiration of options and futures contracts.…

UBS to raise capital, warns of losses

Fri, 26 Jun 2009 20:11:21 +0200

Swiss bank UBS plans to raise almost 2.5 billion euros by selling new shares as it forecast a net loss for the second quarter. UBS said its…

BP and China secure Iraq oilfield deal

Wed, 01 Jul 2009 20:42:00 +0200

A British Petroleum-led group in harness with China's National Petroleum Corporation was the only bidder to secure a contract to develop Iraq's oil…

Qantas reduces Boeing orders

Fri, 26 Jun 2009 20:11:21 +0200

Qantas has scrapped and deferred orders for 30 Boeing 787 Dreamliners. The Australian airline cancelled 15 of the fuel-efficient, long-haul…

Tuesday 16th June

Tue, 16 Jun 2009 21:15:03 +0200

European shares finished flat. Among the influences was the latest survey from the ZEW economic think tank which showed that German analyst and…

H&M's Q2 profit beats forecasts

Thu, 25 Jun 2009 19:44:01 +0200

Hennes &Mauritz - the world's third-biggest clothing retailer - beat second-quarter profit forecasts. The Swedish group's shares rose, even…

Monday 15th June

Mon, 15 Jun 2009 19:36:34 +0200

A bearish Monday for European stocks which finished the day down three percent. The sell off came with investors reacting to a weekend…

Small fall in German jobless

Tue, 30 Jun 2009 20:08:58 +0200

A small drop in Germany's unadjusted unemployment rate has boosted hopes that Europe's biggest economy has turned the corner. The headline…

British economy shrank faster than first thought

Tue, 30 Jun 2009 20:08:58 +0200

The British economy contracted at a much faster rate in the first three months of the year than initially thought. New data shows it also shrank at…

Ericsson boss to be BP chairman

Thu, 25 Jun 2009 19:44:01 +0200

The Chief Executive of Ericsson, Carl-Henric Svanberg, is quitting Sweden's largest company and the world's biggest telecommunications network…

Britain's gain, Spain's pain in house price data

Tue, 30 Jun 2009 20:08:58 +0200

There is mixed news for two of Europe's big housing markets. UK property prices rose for the second month in a row, provding further evidence the…

Eurotunnel's recovery quicker than expected

Thu, 25 Jun 2009 19:44:01 +0200

Eurotunnel has said it is on track to complete its financial restructuring sooner than anticipated and is now ready to start converting investors'…

IMF warns France on fiscal debt

Mon, 29 Jun 2009 19:29:26 +0200

The International Monetary Fund has warned France of rising fiscal debts because of the recession and falling tax revenues. It has called on France…

Toyota facing rough time

Thu, 25 Jun 2009 19:44:02 +0200

The new boss at Toyota has sketched out his plans for returning it to profit. Akio Toyoda promised a back to basics approach in response to the…

Boeing 787 delayed again

Tue, 23 Jun 2009 20:47:36 +0200

Boeing has postponed the first test flight of its 787 Dreamliner for the fifth time. It said it needs to sort out a structural problem with the…

Spain's plans to save the savings banks

Fri, 26 Jun 2009 20:11:21 +0200

Spain's government has created an emergency rescue fund for the country's financial sector. It has allocated nine-billion euros to help facilitate…

Chinese built Airbus plane delivered

Tue, 23 Jun 2009 20:47:36 +0200

The first Airbus passenger jet assembled outside Europe has been handed over to its Chinese owner. Dragon Aviation Leasing took delivery of the…

US Q1 GDP improved

Thu, 25 Jun 2009 19:44:01 +0200

It seems the US economy shrank slightly less than previously thought in the early part of this year. New government figures showed widespread…

Germany heading for huge budget boost

Wed, 24 Jun 2009 20:47:56 +0200

The German cabinet has approved a draft budget for 2010 which includes borrowing an additional 40 billion euros to fight the country's deepest…

Peugeot heading for two billion euro loss

Tue, 23 Jun 2009 20:47:37 +0200

Peugeot Citroen has said it expects to make an operating loss of as much as two billion euros this year. That warning came as it announced…

Fed not likely to raise interest rates for some time

Wed, 24 Jun 2009 20:31:30 +0200

The US central bank, the Federal Reserve, has concluded its two-day policy-setting meeting. There were no surprises, chairman Ben Bernanke and…

Lufthansa gets Brussels go-ahead

Mon, 22 Jun 2009 19:36:28 +0200

Lufthansa has got permission from the European Commission to buy Brussels Airlines. The German flag carrier had satisfied the EU Competition…

Porsche sales slowdown

Fri, 19 Jun 2009 20:24:10 +0200

Porsche's latest figures show a decline in earnings for the last nine months. Turnover was down 15 percent to 4.6 billion euros. Sales…

Russian economy to shrink

Wed, 24 Jun 2009 20:31:30 +0200

There are different figures emerging, but all contain the same message - Russia's economy is going to shrink dramatically this year. The World…

OECD more optimistic about recovery

Wed, 24 Jun 2009 20:31:30 +0200

It is going to a bumpy road ahead for the world economy, but the Organisation for Economic Cooperation and Development has said the downturn is…

Total fires UK builders

Fri, 19 Jun 2009 20:24:11 +0200

The French energy group Total has fired around 900 construction workers who were building a new facility at oil refinery in the UK. Total said…