Economy

UK food agency raids abattoir in horsemeat scandal
British authorities on Tuesday raided a slaughterhouse and a meat processing company suspected of selling horsemeat labeled as beef for kebabs and ...
Finmeccanica CEO arrested in corruption probe
The chief executive of Italian defense and aerospace giant Finmeccanica was arrested in a corruption probe Tuesday, the third corporate scandal to ...
Auditor calls into question French budget targets
France has only a slim chance of meeting ambitious budget targets intended to stabilize the country's economy and meet European requirements, the ...
Iceland shipping company adds Maine to route
An Icelandic shipping company has agreed to establish container freight operations in Portland in a move that will link Maine's largest city to ...
ECB's Draghi: Spain is 'on the right track'
Spain has succeeded in stabilizing a banking system that almost collapsed last year and is well-positioned for better economic times going forward, ...
UK regulator fines UBS over investment funds
Britain's financial regulator fined Swiss bank UBS 9.45 million pounds ($14.8 million) Tuesday for exposing customers to unacceptable risk in the ...
CEO of scandal-ridden UK bank sets new tone
Be honest. Or be gone. That's the message from the new chief executive at Barclays, the British bank that paid a $453 million fine for manipulating ...
Statoil to build Arctic oil terminal
Norwegian energy company Statoil ASA says it plans to build a new oil terminal on the country's Arctic coast to process oil from a recent discovery ...
Official: EU not working on private Cyprus haircut
For a second day in a row, the European Union's top financial official sought Tuesday to quash speculation that private bank depositors in Cyprus ...
Tire workers confront French police over layoffs
Workers fired flares and paint bombs and riot police answered with tear gas in a standoff Tuesday over layoffs at a French plant for U.S.
Spain's Iberia presents major layoff plan
Spanish airline Iberia has presented a plan to cut almost a fifth of its workforce nearly a week ahead of a first round of strikes by labor unions ...
Greece raises 1.3 billion euros in T-Bill auction
Greece has raised €1.3 billion ($1.74 billion) in a Treasury bill auction, with the interest rate paid on the three-month loan roughly unchanged from ...
Rates almost flat as Spain sells $7.5 bln
Spain beat expectations when it sold €5.6 billion ($7.5 billion) in short-term debt in a sign of continuing investor confidence in the government's ...
VW reports 17.4 pct increase in January sales
Germany's Volkswagen AG says it started off the year with brisk car sales, as deliveries outside Europe — particularly in China — helped more than ...
Japan's Nikkei jumps on weaker yen
Tokyo's Nikkei 225 led Asian stocks higher Tuesday as the yen weakened after a possible candidate for Bank of Japan governor voiced support for easier ...
Michelin profits rise despite tough car market
Tire maker Michelin says its profits rose 7.5 percent last year despite a struggling car market in Europe, and expects to keep up volumes this year.
Euro chief won't rule out private Cyprus losses
The new head of the euro area's finance ministers refused Monday to rule out forcing private depositors in Cypriot banks take losses as part of a ...
Romania: Slaughterhouses did not commit fraud
A maze of trading between meat wholesalers has made it increasingly difficult to trace the origins of food — enabling horsemeat disguised as beef to ...
US blast Russian ban on imported US meats
The United States is blasting a Russian move to ban the import of U.S. beef, pork and turkey. The ban went into effect Monday. Russian officials said ...
New markets push up L'Oreal profits, sales
Cosmetics giant L'Oreal SA says that for the first time it made more money in emerging markets last year than western Europe or North America — and ...
Norway's oil fund buys US real estate for 1st time
Norway's vast oil fund has made its first real estate investment in the U.S., buying stakes in five office buildings in New York, Washington and ...
Finnish nuclear reactor delayed further until 2016
Finnish utility TVO says the completion of the country's fifth nuclear reactor will be further delayed and the company does not expect it to go online ...
Israel's Delek gains rights to Cyprus gas field
U.S. firm Noble Energy has ceded 30 percent of its rights to a gas field off Cyprus' south coast to Israel's Delek and its subsidiary Avner Oil ...
Blast at Russia coal mine kills 18 people
A blast at a coal mine in northern Russia on Monday killed 18 people, officials said Monday. Rescuers have recovered 10 bodies at the Vorkutinskaya ...
Ahold selling stake in Scandinavian ICA stores
Dutch supermarket operator Royal Ahold NV says it has agreed to sell its 60-percent stake in Scandinavian retailer ICA for 21.2 billion krona ($3.