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May, 6, 2016

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Business > Europe
ECB to halt production of 500-euro banknotes
Production of the 500-euro banknote is being discontinued amid concerns it had become too popular among crooks and money launderers.
 
Swiss banking giant UBS said Tuesday it is being squeezed by low interest rates, a strong Swiss franc and jittery investors staying out of the markets, warning that the underlying risks are unlikely to be resolved in the foreseeable future.
 
Feeding frenzy in Spain's renewable energy sector
A wind of change is blowing on Spain's renewables: companies and investment funds have been on a buying spree, taking advantage of the know-how and growth prospects of a sector still limping out of a crisis.
 
Norway's sovereign wealth fund, the biggest in the world with shares in more than 9,000 companies, will take a closer look at the controversial issue of executive pay, the country's central bank said Monday.
 
The eurozone economy has finally recouped all the ground lost in the recessions of the past eight years after official figures Friday showed that the 19-country single currency bloc expanded by a quarterly rate of 0.6 percent in the first three months of the year.
 
The United Kingdom's economic growth slowed in the first quarter of the year, hit by a heavy drop in construction and manufacturing, official data showed on Wednesday.
 
Consumer confidence in Germany is on the rise again as households feel that economic recovery will gather pace in the coming months, a poll found on Wednesday.
 
London boasts largest No. of billionaires: rich list
London has more billionaires -- measured in pounds sterling -- than any other city in the world, according to The Sunday Times newspaper's Rich List 2016.
 
German business confidence slipped unexpectedly in April, but not enough to dent the overall positive mood in Europe's biggest economy, the Ifo economic institute said on Monday.
 
Shares in French energy giant EDF plunged more than 7 percent Monday after it pushed back a decision on the construction of two nuclear reactors at Hinkley Point in Britain.
 
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