Latest Europe Business News
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New York man held captive for a month in warehouse rescued by police
By Jonathan Allen NEW YORK (Reuters) - Police rescued a businessman from a New York City warehouse where he had been held captive for a month by kidnappers who demanded a $3 million ransom from his family in Ecuador, authorities said. Acting on a tip from the victim's mother, police ...
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Eurozone Recession Eases Markit Index
eurozone eased in May, a key economic indicator released Thursday showed. The London-based research group Markit said its closely watched Purchasing Managers Index for the region's manufacturing and service sectors rose to a three-month high of 47.7 points in May from 46.9 in April. The May index was higher than the 47.2 points forecast by analysts. However, a reading below 50 ...
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Get ready for a ‘extremely active’ hurricane season
A house leveled during superstorm Sandy in Fairfield, Conn. (Dylan Stableford/Yahoo News) A year after superstorm Sandy, residents along the Atlantic and Gulf coasts should prepare for "an extremely active" 2013 hurricane season, U.S. forecasters say. There will be between three and six major hurricanes this year with winds above 111 ...
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The Eurozones FTT plan is vicious unfair and counter-productive
Vicious, unfair and utterly counter-productive. These are the words that come to mind when I think about one of the latest Eurozone strokes of genius: the financial transaction tax (FTT). When I spoke at the Bloomberg #FXDebate event in London recently, I mentioned that we should all prepare for the expropriation of significant amounts of our wealth through confiscatory stealth taxes based on ...
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Trouble with the new 5 euro notes
Holiday-makers planning to travel to Greece this summer may be well advised not to take the new five-euro bank notes with them. The new five-euro notes that began circulating earlier this month are not recognised ...
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Euro golf tour CEO apologizes for racial remark
Sergio Garcia of Spain emerges from a meeting in the rules office with George O'Grady, Chief Executive of the European Tour during the Pro-Am round prior to the BMW PGA Championship on the West Course at Wentworth on May 22, 2013 in Virginia Water, England. (Richard Heathcote, Getty ...
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‘We aren’t daredevils’ Okla. storm chasers in the sky
KWTV's Jim Gardner in his helicopter (via Facebook) MOORE, Okla.--As a helicopter pilot for Los Angeles's KCAL-TV, Jim Gardner had flown over deadly mudslides and earthquakes, covered car chases and was shot at by snipers during the L.A. riots. Yet Gardner was best known for giving the world its first glimpse of O.J. Simpson's infamous white Bronco leading police on a low-speed ...
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Body of child found after deadly Minnesota landslide
recovered the body of a child missing since a rockslide killed a classmate and left two others injured at the park along the Mississippi River. (AP Photo/The Star Tribune, Nicole Norfleet) MANDATORY CREDIT; ST. PAUL PIONEER PRESS OUT; MAGS OUT; TWIN CITIES TV ...
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George Zimmerman defense releases photos texts of Trayvon Martin
Martin last year during a confrontation at a gated community in Sanford. He is pleading not guilty, claiming self-defense. His trial starts next month. The photos show Martin blowing smoke and extending his middle finger to the camera. The photos also show a gun and what appears to be a potted marijuana plant. In the text messages, Martin tells a friend that his mother has told him he needs to ...
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Fewer new orders mean continued eurozone recession
The eurozone’s downturn has eased slightly, but businesses continue to suffer from a chronic lack of new orders, which should inhibit any meaningful near-term recovery. As a result the region is likely to remain in recession in the second quarter of 2013. Surveys of companies – both in the manufacturing and the services sector – pointed to a similar contraction to the 0.3 ...
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European stocks slump in wake of Tokyo plunge
LONDON (AFP) - European stock markets slumped Thursday, with most indices dropping more than 2.0 percent after Tokyo shares plunged owing to weak Chinese data and signs that the US Federal Reserve may soon taper massive stimulus measures, analysts said.London's FTSE 100 index of leading shares fell 2.10 percent to 6,696.79 points, while in Frankfurt the DAX 30 index also dropped 2.10 ...
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Euro Tour CEO Refers to Sergio Garcia’s Friends As ‘Colored’
Sergio Garcia and George O’Grady, Chief Executive of the European Tour, shake hands after a meeting Wednesday. (Photo by Andrew Redington/Getty ...
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Euro Tour CEO Apologizes for Saying Colored
VIRGINIA WATER, England ...
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European Tour CEO apologizes for using inappropriate word during a live television interview
VIRGINIA WATER, England - The head of the European golf tour has apologized for using the term "colored" during a live television interview in which he was reacting to the spat between Tiger Woods and Sergio Garcia. European Tour CEO George O'Grady said Thursday that "most of Sergio's friends are colored athletes in the United States." O'Grady said he regrets ...
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European Union U-turn over refillable olive oil ban
the European Commission said that restaurants should only be allowed to serve the oil in non-refillable bottles with a proper label. It said this would prevent restaurants from serving low quality oil and improve hygiene. But it also played into the hands of people who complain that the EU is too meddlesome, with Prime Minister David Cameron saying: "This is exactly the sort of area that ...
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Euro Tour Chief Sorry for Colored Athletes Gaffe
VIRGINIA WATER ...
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Rogoff Fixing the eurozone crisis will require massive writedowns of debt
Kenneth Rogoff Kenneth Rogoff, Professor of Economics and Public Policy at Harvard University and recipient of the 2011 Deutsche Bank Prize in Financial Economics, was the chief economist of the International ...
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Eurozone crisis time for France to step up | Kenneth Rogoff
eurozone crisis must involve massive write-downs (forgiveness) of peripheral countries' debt. These countries' massive combined bank and government debt - the distinction everywhere in Europe has become blurred - makes rapid sustained growth a dream.This is hardly the first time I have stressed the need for wholesale debt write-downs. Two years ago, in ...
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Eurozone Consumer Confidence Improves For Sixth Month
Consumer sentiment in the euro area increased for the sixth consecutive month in May to its strongest level since the middle of last year, preliminary data from the European Commission showed Thursday. The DG ECFIN flash estimate of the consumer confidence indicator for Eurozone came in at -21.9, up from April's final score of -22.3. Economists were looking for a score of -21.8 for May. The ...
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US unemployment claims data suggests labour market strength
Still, other data on Thursday suggested the federal austerity drive was combining with weak overseas demand to hold U.S factory activity in May to its weakest rate of growth in seven months.Initial claims for ...
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Fitch Euro MMFs Shift Towards Core European Supranationals and Secured Exposures
Fitch: Sub-Saharan Africa Has Gradual Upgrade Potential Fitch Ratings says in a newly-published report that targeted reforms and policy initiatives could see Sub-Saharan Africa's (SSA) sub-investment grade ratings gradually upgraded, despite per capita income falling well short of peers. The challenge for Africa from a rating perspective is the low level of GDP per capita - most SSA ...
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Greece could earn more debt relief Eurozone chief
"Eurozone countries are prepared to do more if necessary to help Greece, on the condition that the programme is fully implemented," Dijsselbloem ...
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Il Sole 24 Ore underwrites 55-mln-euro securitisation of receivables
MILAN | Thu May 23, 2013 10:20am EDT MILAN May 23 (Reuters) - Italian publisher Il Sole 24 Ore , which publishes the country's leading business daily, said on Thursday it has underwritten a securitisation of trade receivables worth 55 million euros ($71 million). The transaction, the first of this kind in the Italian Media sector, will enhance the company's ability to access ...
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Video European business falters eyes on ECB
The downturn across euro zone businesses has eased slightly but a dearth of new orders offers little hope for the second quarter. As ECB boss Mario Draghi prepares for a keynote speech in London many are asking whether it's time to do more than cut interest rates? Kirsty Basset ...
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EU forced into embarrassing u-turn on olive oil ban
European Commission has decided to tear up new rules on how restaurants should serve olive oil less than a week after unveiling them, following widespread ridicule and accusations of unwanted ...
Switzerland Featured
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Switzerland world's most competitive country
Switzerland is frequently pointed to as a model of good governance, prosperity, innovation and stability and is one of the happiest countries in the world. The recent competitive survey by the WEF underscored this, but came with a warning.
Switzerland truly is an impressive country, landlocked and small with no natural resources; it has developed into one of the richest countries in the world and was recently named the most competitive economy in the world. This is due in large part to its banking sector, which is one of the most advanced and its government structure, which is efficient in comparison to many other developed countries. Read more
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