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May, 26, 2016

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Business > Europe
Greece's parliament passes omnibus reform bill to comply with bailout
Greece's parliament on Sunday passed an omnibus reform bill providing for tax hikes, more austerity reforms and a new privatization superfund, which will manage almost all state property.
 
All-night services on London's Underground trains will be launched for the first time in August, the city's new mayor said Monday, despite union protests against the move.
 
Economic growth across the 19-country eurozone is showing further signs of faltering following a strong start to the year. A closely monitored survey of business activity shows that output growth in May slowed to its weakest rate since early 2015.
 
Cyprus sees economy rebound with 2.7% growth
Less than two years ago, amid Cyprus' worst economic crisis in decades, a thrift store run by the Orthodox Church in the heart of medieval Nicosia was awash with jobless people looking for free food.
 
Greece to adopt more cuts and tax hikes for bailout cash from creditors
Greece on Sunday was set to adopt fresh cuts and tax hikes ahead of a Eurogroup meeting that is expected to unlock desperately-needed bailout funds for the debt-ridden nation.
 
A growing number of Europeans are living in "relative poverty", the U.N. labor agency said Wednesday, warning that a lack of quality jobs worldwide was threatening to undo decades of progress in poverty reduction.
 
French oil and gas company Total officially launched a project off Britain's remote Shetland Islands on Monday, hailed by London as a "vote of confidence" in the flagging Scottish North Sea oil and gas industry.
 
ECB has become too powerful, says Berlin's economic advisor
The European Central Bank has become too powerful, but largely because politicians have foisted an increasingly political role onto it, one of the German government's key economic advisors said in a newspaper interview Sunday.
 
Prime Minister Alexis Tsipras said Saturday that Greece will return to the bond markets in 2017, seven years after losing access to the markets due to its debt crisis.
 
Credit rating agency Moody's raised Ireland's sovereign debt rating on Saturday, citing confidence in the eurozone member's ability to further cut its deficit after finally forming a government.
 
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