Reuters: Business News

Protesters battle Greek police as parliament decides

Sun, 12 Feb 2012 16:51:53 GMT

ATHENS (Reuters) - Greek lawmakers looked set to endorse a new austerity deal on Sunday to secure an EU/IMF bailout and avoid national bankruptcy, defying public rage and protesters who fought pitched battles with riot police outside parliament.

Swiss lobby group open to self-declaration on taxes

Sun, 12 Feb 2012 14:35:55 GMT

ZURICH (Reuters) - The head of a leading Swiss business lobby group said on Sunday he was open to a requirement that banks ask clients to declare their money is taxed, but said that asking for proof is a step too far.

Airlines urge U.N. deal to avert carbon trade war

Sun, 12 Feb 2012 13:38:35 GMT

SINGAPORE (Reuters) - Global airlines called on Sunday for a U.N.-brokered deal to prevent a row over aviation emissions between China and the European Union spilling into a damaging trade war.

Aviva says making progress on Taiwan JV stake sale

Sun, 12 Feb 2012 13:30:32 GMT

TAIPEI (Reuters) - Insurer Aviva said on Sunday it was continuing with talks on the sale of its stake in a Taiwan life insurance joint venture, and was making progress.

Wing cracks could cost Airbus 100 million euros - report

Sun, 12 Feb 2012 12:55:29 GMT

FRANKFURT (Reuters) - Dealing with the wing cracks found in Airbus A380 superjumbos could cost the European plane maker up to 100 million euros ($132 million), a German magazine reported.

Vodafone eyes C&W Worldwide bid - paper

Sun, 12 Feb 2012 12:35:27 GMT

LONDON (Reuters) - British mobile phone operator Vodafone is considering a 700 million pound ($1.10 billion) bid for Cable & Wireless Worldwide although no offer is imminent, the Sunday Times reported, citing industry and City of London sources.

TUI AG set to agree Hapag-Lloyd deal this week

Sun, 12 Feb 2012 11:40:10 GMT

FRANKFURT (Reuters) - German travel and logistics group TUI looks set to agree the sale of its stake in container shipping company Hapag-Lloyd to majority shareholder, the Albert Ballin consortium, this week.

Bankers arrested in tax probe

Sun, 12 Feb 2012 11:15:54 GMT

LONDON (Reuters) - Several British bankers have been arrested as part of an investigation into alleged tax-related criminal offences, the country's customs and revenue service said on Sunday, including some from Royal Bank of Scotland.

British police arrest 5 at Murdoch's Sun newspaper

Sat, 11 Feb 2012 22:47:20 GMT

LONDON (Reuters) - British police threw Rupert Murdoch's scandal-hit News Corporation into fresh turmoil Saturday by arresting five senior staff at the top-selling daily The Sun in a probe into journalists paying police for tip-offs.

Greece warns bailout rebels of disaster

Sat, 11 Feb 2012 21:08:44 GMT

ATHENS (Reuters) - Greek Prime Minister Lucas Papademos told lawmakers to back a deeply unpopular EU/IMF rescue in a vote on Sunday or condemn the country to a "vortex" of recession.

Hungary government lawmaker sees IMF deal by May - report

Sat, 11 Feb 2012 12:46:24 GMT

BUDAPEST (Reuters) - Hungary can realistically start formal talks with the European Union and the IMF about a vital funding deal in early March and an agreement can be reached by the middle of the second quarter, a ruling Fidesz party lawmaker said on Saturday.

Climax nears in Greek drama

Sat, 11 Feb 2012 12:41:06 GMT

LONDON (Reuters) - Tortuous negotiations over a second bailout for Greece are set to come to a head on Wednesday, putting fragile market confidence to the test on the same day data is tipped to show the euro zone is entering a mild recession.

S&P downgrades 34 Italian banks

Sat, 11 Feb 2012 00:04:12 GMT

MILAN (Reuters) - Rating agency Standard & Poor's downgraded 34 Italian banks on Friday, including heavyweights UniCredit and Intesa Sanpaolo , citing a reduced ability to roll over their wholesale debt and expected weak profitability.

Greek cabinet approves EU/IMF bailout bill

Fri, 10 Feb 2012 22:48:05 GMT

ATHENS (Reuters) - The Greek cabinet approved a draft bill spelling out reforms required by the EU and the IMF on Friday, taking Athens closer to getting a new 130 billion-euro bailout after the prime minister warned the alternative was "catastrophe."

Stocks, euro hit by Greek worries

Fri, 10 Feb 2012 21:31:18 GMT

NEW YORK (Reuters) - Stocks snapped a five-week winning streak on Friday and the euro slumped as planned wage and pension cuts in Greece hit a new obstacle, raising fear the country may not get the aid it needs to avoid a messy default.

UK to drop Merlin lending targets as SME loans lag

Fri, 10 Feb 2012 20:45:16 GMT

LONDON (Reuters) - The government will not extend a deal requiring banks to meet fixed lending targets to businesses, a Treasury source said, scrapping a scheme designed to revive ailing credit markets, which have been a barrier to economic recovery.

Exclusive - Future of bank benchmark rate under review

Fri, 10 Feb 2012 20:44:48 GMT

LONDON (Reuters) - A global probe into whether banks colluded to set the interest rates at which they borrow money from each other has thrown into question the future of the benchmark they use to price financial products worth an estimated $360 trillion (228.62 trillion pounds).

Petrobras struggles to hit investment, output goals

Fri, 10 Feb 2012 20:34:19 GMT

RIO DE JANEIRO (Reuters) - Petrobras cut investment in 2011 for the first time in eight years as Brazil's state-run energy company struggled to buy the equipment, technology and services needed to carry out a $225 billion (142 billion pound) expansion plan and exploit one of the world's most promising offshore oil frontiers.

Travelodge plugs funding hole - sources

Fri, 10 Feb 2012 20:28:58 GMT

LONDON (Reuters) - British budget hotelier Travelodge has had to call on its lenders for emergency cash to tide it over, and could need more capital shortly as it struggles to cope with its debts, people familiar with the matter told Reuters.

EU seen approving Google's Motorola deal - sources

Fri, 10 Feb 2012 20:14:58 GMT

BRUSSELS (Reuters) - Google Inc is expected to win approval next week from European regulators, as well as from U.S. antitrust authorities, for its planned $12.5 billion (7.9 billion pound) purchase of Motorola Mobility, according to people familiar with the matter.

S&P downgrades 34 Italian banks

Fri, 10 Feb 2012 20:00:59 GMT

RLPC-ECB cash helps thaw Europe's loan market

Fri, 10 Feb 2012 18:03:55 GMT

LONDON (Reuters) - Conditions are easing in Europe's syndicated loan market as cash from the European Central Bank starts to filter through, boosting liquidity and freeing up new money to lend, although dollar funding remains scarce and expensive.

Apax prepares to battle lenders over Marken - sources

Fri, 10 Feb 2012 17:48:13 GMT

LONDON (Reuters) - Private equity group Apax is preparing for a tussle with lenders over British medical courier Marken, which it bought in a 2009 deal that paved the way for a resurgence in buyouts, people familiar with the situation said.

Italy widely expected to scale back F-35 orders

Fri, 10 Feb 2012 17:30:43 GMT

ROME (Reuters) - Italy seems certain to scale back its major investment in Lockheed Martin Corp's F-35 Joint Strike Fighter, heightening uncertainty over the troubled stealth jet's future.

FTSE hit by fresh stumble in Greek aid talks

Fri, 10 Feb 2012 17:23:43 GMT

LONDON (Reuters) - The leading share index closed lower and posted its worst week for two months after fresh Greek political drama around the terms of its second bailout package fuelled selling of cyclical stocks and brought fresh technical support into sight.