Economy

Currency factors weigh on retailer H&M's Q2 profit
Swedish fashion retailer Hennes & Mauritz AB on Wednesday said profits fell by 11 percent in the second quarter due to the strong Swedish krona and ...
Transformer fire causes power failure in Prague
Czech authorities say they are investigating an overnight explosion and fire in a transformer in Prague that caused a power failure in large sections ...
Cape Wind gets $200M investment from Danish fund
The Cape Wind offshore wind project has secured a $200 million investment from a Danish pension fund in what the wind farm's president said Tuesday ...
Jamaica eyes expatriates as source of investment
In a bid to kick start Jamaica's chronically stagnant economy, the Caribbean country is wooing its citizens living abroad to invest in the island of ...
Austrian construction company says it's insolvent
Alpine Bau GmbH, one of Austria's biggest construction companies, says it is insolvent. In making the announcement Tuesday, the company said it is ...
Report: Commerzbank to lay off 5,000 employees
German news agency dpa is reporting that the country's second-largest bank is set to lay off about one tenth of its workforce. Dpa reported Tuesday ...
easyJet to buy 135 single-aisle Airbus A320s
Budget carrier easyJet agreed Tuesday to purchase 135 single-aisle Airbus jets that will allow the European airline to pack in more passengers than ...
European car sales hit 20-year low for May
European car sales had their worst May in 20 years as the region's recession drags on, the European automakers' association said Tuesday.
Kabel Deutschland shares rise on takeover interest
Shares in Germany's biggest cable operator are up after Kabel Deutschland received a preliminary takeover proposal from U.S. firm Liberty Global.
Moody's downgrades Co-op Bank ratings _ again
Moody's has downgraded its ratings on Co-operative Bank for the second time this year on Tuesday — another blow to the troubled lender. It said it had ...
Lego to expand Czech facility to meet demand
Danish toymaker Lego says it will expand a factory in the Czech Republic and create some 800 jobs to meet growing regional demand for its popular ...
German investor confidence rises to 3-month high
Germany's ZEW survey of investor optimism rose to a three-month high in June, beating expectations. The research institute's closely watched index ...
UK inflation climbs to 2.7 percent
The Office of National Statistics says surging air fares contributed to a rise in inflation in the UK last month. The UK's statistics service said ...
World's 3 biggest shipping operators unite
Danish shipping and oil group A.P. Moller-Maersk says the world's three biggest shipping container operators have entered an alliance to reduce fuel ...
Stora Enso lays off 2,500 workers worldwide
Nordic paper maker Stora Enso says it will lay off 2,500 workers, or some 9 percent of its total global workforce, as part of a major cost-cutting ...
Greek coalition avoids collapse over TV shutdown
The Greek government has avoided collapsing over a dispute stemming from Prime Minister Antonis Samaras' move to close the state-owned television ...
Porsche family buys back stake from Qatar fund
Descendants of German automobile entrepreneur Ferdinand Porsche have bought back a 10 percent stake in their holding company from Qatar's sovereign ...
Paris Air Show peek: Wide-body battle and drones
The Paris Air Show, which opens for business on Monday, brings hundreds of aircraft to the skies around the French capital, the usual tense ...
Cyprus court hands life sentence to ex-TV host
Cyprus' criminal court on Thursday sentenced a former television presenter, her brother and two other men to life in prison after finding them guilty ...
RBS shares drop following CEO departure
Royal Bank of Scotland's share price fell amid uncertainty about the future following the announcement that chief executive Stephen Hester was leaving ...
EU presents post-Fukushima nuclear safety rules
The European Commission proposed tougher nuclear safety rules Thursday, amid international debate about the future of nuclear energy and how to secure ...
Vatican credit stop emblematic of finance woes
The Vatican put a new coin on sale last week to commemorate its historic papal transition. Too bad overseas collectors won't be able to buy it for ...
France hit by train strike after airport action
After two days of air traffic controller strikes, French rail workers walked off the job Thursday to protest a reorganization of the national rail and ...
Irish price rises ease to 3-year low of 0.4 pct
Government statisticians say Ireland's average cost of goods and services has risen by 0.4 percent, the lowest annual rate of inflation in three years
Fiat: supplier delays will force shutdowns
Italian carmaker Fiat says it will temporarily stop production at some European car plants in the coming days due to insufficient deliveries of ...