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September, 27, 2016

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Business > Europe
China's property and entertainment giant Wanda has agreed to sell a historic Madrid skyscraper, a source close to negotiations said Wednesday, after feuding with city authorities over plans to renovate the landmark.
 
Investor confidence in Germany plummeted in July to its lowest level in nearly four years on concerns about the fallout for Europe's biggest economy from the British vote to quit the European Union, a leading survey showed on Tuesday.
 
U.S. Treasury Secretary Jacob Lew will press Greece's government to move ahead on economic reforms in a visit to Athens this week, the Treasury Department said Monday.
 
Britain's annual inflation rate rose last month from May, official data showed Tuesday, and faces further gains as a weak pound caused by the Brexit vote raises import prices.
 
German container shipping giant Hapag-Lloyd announced Monday it is teaming up with United Arab Shipping Company to become one of the world's top five shipping companies as consolidation in the sector continues apace.
 
The European Central Bank, widely expected to hold fire on monetary policy next week, will likely prepare the ground for more stimulus measures in September as the economic fallout for the eurozone from Brexit becomes clearer, analysts predicted.
 
The Bank of England kept its interest rate at 0.50 percent on Thursday, confounding expectations for a reduction -- but signaled a possible August cut in response to Brexit.
 
The pound built on the previous day's gains in Asia Friday after the Bank of England surprised markets by holding fire on an interest rate cut at its first meeting since Britain voted to leave the European Union.
 
Sales of new cars fell in Britain last month as the nation voted to leave the European Union, data showed Friday, while elsewhere in the bloc they continued to accelerate.
 
Business people from Poland and China met Thursday at an event supported by the two governments and intended to promote cooperation.
 
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