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International

  • Rouble suffers new fall but its collapse slows

    Rouble suffers new fall but its collapse slows

    The dramatic fall in Russia’s rouble slowed yesterday, with the government selling foreign currency to prop it up after a 50 per cent fall against the dollar this year. Losses were partly contained by exporters selling dollars in preparation for...

  • Apple wins class-action iPod trial

    Apple wins class-action iPod trial

    A jury in California has found in favour of Apple in a billion-dollar class-action lawsuit over the price of its iPod music players. The eight-member jury in US District Court rejected a claim by lawyers for consumers and iPod resellers, who...

  • Oil below $60 as Opec, Russia keep pumping

    Brent crude oil traded below $60 a barrel yesterday, near five-and-a-half-year lows, as major oil producers signalled they would maintain output despite a supply glut and faltering demand in Russia and Europe. Core Gulf Opec members have said they...

  • EU shines light on dirty money with central registers

    EU shines light on dirty money with central registers

    The European Union has agreed rules to stamp out tax evasion and stop dirty money from criminal gangs or terrorism finance being channelled through anonymous companies. EU states and the European Parliament struck the agreement on Tuesday evening...

  • Equities gain as oil prices rebound, and safety bid eases

    Global markets stabilised yesterday, with US and European equities rebounding as a comeback in oil prices drove up energy shares. The yield on US five-year Treasuries climbed to session highs as the gains on Wall Street and domestic oil futures...

  • Quantitative easing or not?

    Quantitative easing or not?

    The ECB’s monthly rate meeting today will focus minds on the debate over quantitative easing in the eurozone, as a series of data releases on both sides of the Atlantic sheds more light on European woes and US strength. Final purchasing manager...

  • Prosecutors investigate Airbus projects

    Munich prosecutors are carrying out an investigation at Airbus’s defence unit over alleged corruption linked to contracts with Romania and Saudi Arabia, they said yesterday. The Munich prosecutor’s office said it was investigating EADS, as Airbus...

  • Regulators widen probe into Orange, Jazztel deal

    Regulators widen probe into Orange, Jazztel deal

    EU antitrust regulators are likely to expand their scrutiny of French telecoms provider Orange’s 3.4-billion-euro bid for Jazztel after the companies failed to allay their concerns, two sources familiar with the matter said yesterday. Orange,...

  • Greece needs bailout extension as new credit line gets delayed

    Greece needs bailout extension as new credit line gets delayed

    Greece will have to ask for an extension on its bailout programme before parliaments in eurozone nations close for Christmas because a new credit line will not be ready in time, a senior eurozone official said yesterday. After two bailouts...

  • Eurozone economy looking set to contract

    Eurozone economy looking set to contract

    Heavy discounting failed to stop eurozone business activity growing less than thought last month, a survey showed yesterday, suggesting the bloc’s economy may contract again early next year. “The region is on course to see a mere 0.1 per cent GDP...

  • BoE policymakers vote to hold rates, ‘material spread of views’

    BoE policymakers vote to hold rates, ‘material spread of views’

    Two Bank of England policymakers voted again for an increase in interest rates this month, and there was a “material spread of views” among the seven who opted to keep rates on hold. Yesterday’s minutes of the Monetary Policy Committee’s November...

  • Kuroda hints at discontent over tax hike delay

    Kuroda hints at discontent over tax hike delay

    The head of the Bank of Japan warned yesterday that the government is solely responsible for maintaining trust in the country’s finances, in a thinly veiled show of discontent over premier Shinzo Abe’s decision to postpone a sales tax...

  • Hugo Boss targets faster sales growth

    German fashion house Hugo Boss expects sales growth to accelerate and margins to improve in the coming years as it upgrades its core brand and pushes ahead with moves to sell more womenswear and expand its own retail network. In a statement ahead...

  • Insurance watchdog warns on ‘undue’ investment incentives

    Insurance watchdog warns on ‘undue’ investment incentives

    The EU’s top insurance watchdog yesterday warned against giving insurers strong enticements to invest in particular asset classes, saying this would run counter to prudent supervision. “We need to emphasise continually that undue incentives to buy...

  • LSE to launch midday auction next year

    LSE to launch midday auction next year

    The London Stock Exchange will launch a midday auction for the largest and most liquid stocks on its markets late next year, seeking to win back business by capitalising on new rules that clamp down on trading in rival venues called dark...

  • Second-hand clothes the austerity fashion

    The global financial crisis hit hard in central and eastern Europe, but one industry has thrived: second-hand clothing stores. While in western Europe the squeeze on household finances prompted many consumers to turn to discount retailers like...

  • Dutch bank ING to pay off state aid early

    ING Group NV, the largest Dutch bank, said it would repay the last of its state aid ahead of schedule this week, signalling an extra dividend for shareholders as lending growth drove a jump in pre-tax earnings. In its first full quarter as a pure...

  • India’s finance minister describes economic reform as ‘long journey’

    India’s finance minister describes economic reform as ‘long journey’

    India’s Finance Minister Arun Jaitley said yesterday structural reforms to Asia’s third largest economy could only progress slowly, adding that he backed relaxing labour and land laws hated by business, along with more privatisations. Speaking to...

  • Virgin Money valued at up to £1.45 billion

    Virgin Money valued at up to £1.45 billion

    UK lender Virgin Money will be valued at up to £1.45 billion in its revived London stock market listing, slightly lower than expectations, two sources familiar with the matter said yesterday. The bank, backed by billionaires Richard Branson and...

  • EU’s Juncker pledges investment plan for jobs

    EU’s Juncker pledges investment plan for jobs

    The incoming head of the EU executive, Jean-Claude Juncker, told the European Parliament yesterday that he would present his €300-billion plan for investment to bolster growth and jobs by the end of this year. Switching significantly to German...

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