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International

  • EU delays decisions on tax probes

    EU regulators will miss a June deadline to decide whether tax deals granted by individual Member States to companies including Apple and Starbucks are legal because they lack some data, the EU’s antitrust chief said. The investigations launched...

  • McDonald’s reset to change structure, cut costs, boost franchises

    McDonald’s reset to change structure, cut costs, boost franchises

    McDonald’s Corp.’s new chief executive officer said he would reorganize business units, sell restaurants to franchisees and cut costs in a bid to turn the fast-food chain into a “modern, progressive burger company”. The anticipated video...

  • Global bond selloff deepens while oil prices hit year’s high

    A global rout in government bonds deepened yesterday as long-term US and European borrowing costs reached their highest level this year, spreading anxiety into stock and other markets. The standoff between Greece and its lenders, together with...

  • Eurozone business activity starts second quarter on solid footing

    Eurozone business activity starts second quarter on solid footing

    Eurozone businesses started the second quarter with healthy growth as a buoyant order book again encouraged them to hire more, a survey showed yesterday. Any sign that the bloc’s recovery is gaining traction will be welcomed by the European...

  • BOE unanimous on rates

    BOE unanimous on rates

    Bank of England policymakers have grown more upbeat about the outlook for the eurozone and see a greater chance that inflation could recover strongly next year, minutes of their April policy meeting showed yesterday. The minutes of the April 8-9...

  • EU charges Gazprom with abusing market position

    European Union antitrust regulators charged Russian gas giant Gazprom yesterday with abusing its dominant position in Poland, Hungary and six other countries in Eastern Europe following more than two years of investigation. The European Commission...

  • ECB to fund Greek banks as long as they stay solvent

    The European Central Bank will continue to fund Greek banks as long as they stay solvent and have enough collateral, Executive Board Member Benoît Cœuré told a newspaper yesterday, dismissing talk that Athens might ditch the euro. Worries over the...

  • Volvo ousts CEO, turns to Scania for new boss

    Volvo ousts CEO, turns to Scania for new boss

    Sweden’s Volvo named Martin Lundstedt, the head of Volkswagen-owned Scania, as its chief executive yesterday, replacing embattled Olof Persson who for nearly four years led a sweeping efficiency drive at the global truck maker. Persson had led a...

  • Shares hold on steady over earnings as US Treasuries dip

    Stocks in major markets were little changed yesterday as the latest round of US corporate earnings kept equities in check, while US Treasury prices declined after home sales data added to anticipation of a rate hike by the US Federal Reserve later...

  • Shipping movements

    The following ships are expected in Malta: The AS Aries to Iskenderun, the BF Nilou from Annaba to Bizerte, the CMA CGM Rigoletto from Jeddah to Valencia (all Carmelo Caruana Co. Ltd), the K-River from Valencia to Tunis (Thomas Smith Shipping Ltd)...

  • Shell offers 50% premium to buy BG Group for £47bn

    Shell offers 50% premium to buy BG Group for £47bn

    Royal Dutch Shell agreed to buy smaller rival BG Group for $70 billion in the first oil super-merger in more than a decade to close the gap with the world’s largest oil firm US ExxonMobil. In a joint statement, the two firms said Shell would pay a...

  • UK opposition Labour pledge to end ‘non domicile’ tax status

    Britain’s opposition Labour Party yesterday pledged to scrap tax rules that allow wealthy individuals to legally reduce the amount of tax they pay on money earned overseas if the party wins a national election on May 7. The change would affect...

  • Commission investigating merger of TeliaSonera and Telenor

    The European Commission has opened an in-depth investigation to assess whether the proposed joint venture between the Danish operators TeliaSonera AB and Telenor ASA is in line with the EU Merger Regulation. Both companies provide...

  • Greece raises €1.1bn, sells all six-month T-bills on offer

    Greece raises €1.1bn, sells all six-month T-bills on offer

    Greece raised €1.138 billion at an auction of six-month Treasury bills yesterday, moving the full amount on offer in the first of two sales this month as it tries to roll over debt and navigate its way through a cash crunch. Despite Athens’...

  • Stocks gain on Royal Dutch Shell bid as dollar slips

    Global equity markets rose on yesterday, with European shares hitting eight-year highs on Royal Dutch Shell's $70 billion bid for energy firm BG Group, while the dollar slipped ahead of the release of US Federal Reserve minutes. Equity markets...

  • €2.5bn plan to boost business investment of French firms

    €2.5bn plan to boost business investment of French firms

    French firms will benefit from bigger tax rebates on their investments as part of reforms announced yesterday to boost business activity. Flat business investment remains a drag on the improving economic outlook for the eurozone’s second-largest...

  • EU reimposes sanctions on Iranian bank and 32 shipping companies

    The EU reimposed sanctions on an Iranian bank and 32 Iranian shipping companies yesterday, using new legal grounds, after the measures were struck down by a European court. Coming days after Iran and six major powers reached a framework agreement...

  • Shipping movements

    The following ships are expected in Malta: The Xin Da Lian from Port Klang to Koper, the Taurus J from Algiers to Bejaia (both Carmelo Caruana Co. Ltd), the MV Eurocargo Malta from Genoa to Genoa (Sullivan Maritime) and the Vega Stockholm from...

  • Australia ready to join China-led bank, seeks clarity on governance

    Australia ready to join China-led bank, seeks clarity on governance

    Australia is “well and truly” disposed to join the China-led Asian Infrastructure Investment Bank (AIIB), Prime Minister Tony Abbott said yesterday, but wants to know how much power Beijing would hold in the institution before a formal...

  • French business morale at three-year high

    French business morale was at its highest for nearly three years in March, adding to signs the eurozone’s number two economy is emerging from stagnation on the back of lower oil prices and a weaker euro. The composite indicator of morale rose to...

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