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International

  • ECB plan could boost shares in Europe’s weakest companies

    Shares in some of Europe’s least profitable and most indebted companies are set to outperform in the coming months if the European Central Bank starts buying corporate bonds to fight the threat of deflation. The ECB has opened the door to the...

  • Japan, United States face off in crucial trade negotiations

    Japan and the United States yesterday began a round of crucial talks aimed at concluding a trade pact seen as critical to the success of regional negotiations, although officials warned that bridging differences would be difficult. Tokyo and...

  • European policymakers seek to reshape bundled debt market

    European policymakers are drawing up plans to revive the market for repackaged debt in a bid to lure investors back to a sector that was at the heart of the worst financial crisis in a generation. Securitisation is seen as key to helping banks...

  • GlaxoSmithKline throws in the towel

    GlaxoSmithKline has stopped a high-profile clinical trial using a novel vaccine to fight lung cancer after deciding it could not find a sub-group of patients who might benefit. The decision comes less than two weeks after GSK said the MAGE-A3...

  • Domino’s Pizza sales rise as hungry Brits snap up promotions

    Domino’s Pizza, Britain’s biggest pizza delivery firm, said it was close to naming its new boss as it posted a 10.8 per cent rise in first-quarter UK underlying sales. The company said yesterday that sales at UK stores open over a year rose 10.8...

  • UK heads for Lloyds exit by 2015 after £4.2bn share sale

    The UK government has sold £4.2 billion worth of shares in Lloyds Banking Group to cut its stake in the country’s largest retail bank to under 25 per cent and putting it on course for a complete exit in the next year. Finance Minster George...

  • Lufthansa cancels 600 flights today due to strike plans

    Lufthansa, Germany’s largest airline, said it had cancelled around 600 flights – about a third of its services – today due to a planned strike by public-sector workers across the country’s airports. Trade union Verdi called on ground staff,...

  • China in talks with Airbus on possible $20bn deal – Sources

    China is in talks to buy at least 150 Airbus passenger jets potentially worth $20 billion when Xi Jinping pays his first visit to Europe as president at the end of this month, people familiar with the matter told Reuters. In a broad-ranging deal...

  • China signals focus on reforms and leaner, cleaner growth

    China sent its strongest signal yet that its days of chasing breakneck economic growth were over, promising to wage a “war” on pollution and reduce the pace of investment to a decade-low as it pursues more sustainable expansion. In a State of the...

  • Sluggish eurozone recovery confirmed in fourth quarter

    Rising exports and a gradual improvement in investments were behind the eurozone’s stronger-than-expected growth in the last quarter of 2013, data showed yesterday. The €9.5-trillion economy rose by 0.3 per cent in the October-to-December period,...

  • Nowotny eyes ‘self-correction’ of low inflation, strong euro

    Low eurozone inflation and the strong euro could both start to self-correct this year without requiring any action from the European Central Bank, one of its policymakers Ewald Nowotny said in an interview. Speaking to Reuters on Tuesday the...

  • Tourism boom drives Greece to first current account surplus on record

    Record spending by foreigners as Greece’s tourism industry slashed prices helped the country’s current account post its first surplus last year since official data began in 1948, central bank figures showed yesterday. Current account deficits have...

  • Microsoft denies censorship of China-related searches

    Microsoft Corp. yesterday denied it was omitting websites from its Bing search engine results for users outside China after a Chinese rights group said the US firm was censoring material the government deems politically sensitive. GreatFire.org, a...

  • Turkey bank chief ignores Erdogan to save reeling lira

    Torn between an angry Prime Minister railing against an interest rate hike and punitive markets baying for a rise, Turkish Central Bank Governor Erdem Basci opted for a bold increase in rates that has stunned investors. On Tuesday morning, he...

  • Minicars fare worst in frontal crash test – report

    Minicars such as the Fiat 500 and Honda Fit performed worse than any other vehicle segment in a frontal crash test that mimics what happens when a car hits another vehicle, utility pole or tree. Of the 11 minicars tested by IIHS, only one won an...

  • Eurozone debt drops for first time in six years

    Eurozone government debt fell for the first time in nearly six years in the third quarter, data showed yesterday, adding to signs the bloc was turning the corner on the sovereign debt crisis. Debt in the 17 countries sharing the euro stood at...

  • UK joblessness plunges towards Bank of England target

    British unemployment plunged to within a whisker of the Bank of England’s level for considering an increase in interest rates, data showed yesterday, but the central bank stressed it would be in no rush to act. The unemployment rate dropped to 7.1...

  • Forecast for business lending in 2014 drops by €211bn

    This year the eurozone will experience annual GDP growth for the first time since 2011, but at just 0.9 per cent the growth will not be strong enough to support a level of uplift in financial services that will drive further economic recovery...

  • Latvia adopts the euro

    Now that Latvia adopted the euro yesterday – on the 15th anniversary of the launch of the euro in 1999 – 18 member states and 333 million Europeans share the same currency. European Commission President José Manuel Barroso said: “I am delighted to...

  • Debenhams warns on profits after poor Christmas

    Debenhams, Britain’s second-largest department store by sales, warned profits would fall well short of market expectations after a hoped-for surge in last minute Christmas shopping failed to materialise, sending its shares slumping. In an...

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