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August, 31, 2016

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Business > Europe
The Bank of England on Tuesday relaxed commercial banks' capital requirements to boost lending to businesses and households, and warned that financial stability risks "have begun to crystallise" after Brexit.
 
COPENHAGEN - Danish discount supermarket Netto said on Monday it was exiting the highly competitive British market as it ended a joint venture with British retailer Sainsbury's, citing a dearth of attractive store locations.
 
MILAN - Italy's number-three bank, Banca Monte dei Paschi di Siena, took a hammering on the stock market Monday as the European Central Bank told it to slash its large bad-debt burden.
 
New car registrations in Germany, a key indicator of demand in Europe's top economy, rose strongly in June, official data showed on Monday.
 
Germany's EU Commissioner Guenther Oettinger said in a newspaper interview Monday that Spain and Portugal should be fined by Brussels for missing their 2015 deficit targets.
 
Finance chiefs urge swift action on Brexit
Financial movers and shakers gathered in France on Saturday urged a clear and timely political response to lift the uncertainty caused by Britain's shock vote to leave the European Union.
 
Call it the law of unintended consequences -- a measure to save Greece from the abyss of a default and crashing out of the eurozone now holds its economy in a stranglehold preventing its recovery.
 
The cottage cheese crackles like popcorn, emits a grayish smoke and finally goes up in flames, burning for an impressive ten minutes, like a well-oiled torch.
 
On track at last
This picture taken on Sunday, July 3 shows a French TGV high-speed train passing in Eckwersheim, eastern France, on the first day of the new East-European LGV line. Over 100 kilometers of new track have been laid between Baudrecourt (Moselle) and Vendenheim (Bas-Rhin) for high-speed transit that will cut 30 minutes off the 2-hour, 20-minute trip between Paris and Strasbourg. The opening of the line has been delayed after a high-speed train derailed on Nov. 14, 2015 during a test conducted by technicians, killing ten people.
 
Eurozone unemployment fell to a near five-year low in May, official data said on Friday, in a rare positive sign for a sluggish European economy struggling to return to solid growth.
 
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