Economy

Italy's Eni 1Q earns down 57 percent
Italy's largest energy company, Eni SpA, says that its first-quarter profits dropped 57 percent, partly because conflicts in Nigeria and Libya led to ...
European recession hits major car makers
Europe's stubborn recession cut deeply into profits at major automakers Ford, Volkswagen and Daimler, first-quarter results showed Wednesday as the ...
Barclays returns to profit in Q1
Barclays PLC on Wednesday reported a return to profit in the first quarter, as it tries to restructure and get past recent scandals. In the three ...
Renault 1st quarter sales slide on weak Europe
Renault says that sales of its cars slumped 12.6 percent in the first quarter as Europe's sliding economies hit automakers across the continent.
ECB: worth reconsidering 500 euro ($650) note
A top European Central Bank official says it is "worth discussing" whether the 17-nation currency zone should abolish its 500 euro ($650) note, which ...
Nordea's profit up despite soft corporate sector
Nordea AB says first quarter net profit rose 3 percent to 796 million euros ($1 billion) compared to the same period a year ago despite slow activity ...
GSK: reforms on track as Q1 profit falls a quarter
Pharmaceutical company GlaxoSmithKline has reported a 26 percent drop in profits in the first quarter compared to a year ago, as it restructures its ...
VW earnings lower as Europe weighs on revenue
Volkswagen AG reaffirmed its full-year earnings outlook Wednesday even after it reported a 38 percent fall in first-quarter profit as sagging demand ...
Ericsson Q1 profits dive on restructuring costs
Wireless equipment maker Ericsson said Wednesday that a 2 percent gain in sales in the first quarter was not enough to prevent an 86 percent slump in ...
Lloyds deal to sell branches to Co-op collapses
Lloyds Banking Banking Group says a mulitmillion pound deal to sell hundreds of branches to Co-operative Group has unraveled. Part-nationalized Lloyds ...
German business optimism falls more than expected
A key measure of German business optimism fell in April, suggesting Europe's biggest economy might not be rebounding as expected and likely putting ...
Daimler profits slide in Q1 on European struggles
Daimler AG warned Wednesday that profits this year would be lower than last year's as it reported a 60 percent slide in first-quarter earnings amid ...
Peugeot Citroen blames Europe for Q1 sales slump
PSA Peugeot Citroen said Wednesday crumbling automobile markets across Europe lay behind a steep drop in its first quarter sales. The parent company ...
Heineken says full year sales growth not as strong
Heineken NV says its sales and profits rose in the first quarter, due to recent acquisitions. The Dutch brewer blamed austerity policies for weak ...
Lawyer: Inspectors clear US horse slaughterhouse
The attorney for a proposed horse slaughterhouse in southeastern New Mexico says a federal inspection Tuesday went well and the plant hopes to be in ...
Correction: Michelin sales story
In a story April 22 about Michelin, The Associated Press misstated the dollar equivalent of Michelin's first quarter sales. It was $6.36 billion, not ...
Stora Enso posts Q1 loss amid falling paper demand
Nordic paper maker Stora Enso said Tuesday it slid to a first-quarter net loss of 16 million euros ($21 million) amid poor demand for its products, ...
Bailed-out Portugal puts focus on growth policies
After two years of relentless austerity and steep recession, bailed-out Portugal's government is adopting new measures to spur growth. The government ...
EU probes planned merger of Greek airlines
The European Commission has opened an in-depth antitrust investigation of the proposed takeover of Greece's Olympic Air by its domestic rival Aegean ...
Poland's Boeing 787s to resume flight in June
Polish national airline LOT said Tuesday its Boeing 787s, which had been grounded for months due to battery problems, will resume flying in June and ...
Spain central bank: recession continued in Q1
Spain's recession continued in the first three months of the year, with the economy shrinking by 0.5 percent, its seventh quarterly contraction, the ...
BASF to cut 500 jobs at chemicals business
Chemicals and oil company BASF say it is cutting 500 jobs by the end of 2015 at its specialized chemicals business. The company says the division is ...
Gucci buys historic Richard Ginori brand
Gucci luxury goods maker says it has agreed to buy Richard Ginori, the historic porcelain maker, for 13 million euros ($16.8 million) and plans to ...
Poland's jobless rate down to 14.3 percent
Poland's jobless rate inched down to 14.3 percent in March from 14.4 percent the month before, according to government figures released Tuesday.
Piraeus Bank shareholders approve recapitalization
Greece's second-largest lender, Piraeus Bank, says shareholders have approved a recapitalization plan that is intended to safeguard the bank's ...