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May, 5, 2016

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Business > Europe
SAN FRANCISCO -- Google will pay about $140 million in British back taxes in a concession driven by a shift in how the Internet company will measure its success in the United Kingdom. The amount translates into 130 million pounds.
 
Mario Draghi let rattled investors know Thursday that the European Central Bank is ready to take action if plunging oil prices and weaker growth in China hurt the economy.
 
Greek seamen, farmers, protest planned pension reforms
Greek farmers used tractors to block a northern highway Wednesday and hundreds more prepared to close other roads to protest unpopular draft pension reforms that will further cut incomes in the austerity-weary country.
 
Greece's privatization agency announced Wednesday it had accepted a 368.5 million-euro (US$402.4 million) bid for 67 percent of the Port of Piraeus by China's COSCO.
 
The International Monetary Fund (IMF) abolished Wednesday a rule created in 2010 that allowed it to participate in an international bailout of Greece despite doubts about the country's debt sustainability.
 
Deutsche Bank says it expects an annual loss of 6.7 billion euros (US$7.3 billion) for 2015, compared with a net profit of 1.69 billion euros the previous year.
 
The ruble fell close to a historic low on Wednesday, as the U.S. dollar climbed past the psychological threshold of 80 rubles for the first time since the shock plunge of the Russian currency in December 2014.
 
More than 100 taxis block traffic in Budapest, demanding ban on Uber
More than 100 taxis blocked traffic in downtown Budapest on Monday as drivers demanded a ban on Uber and other ride-hailing apps.
 
Iran is mulling the idea of building a refinery in Spain to find new markets and boost its oil exports, Spanish Foreign Minister Jose Manuel Garcia-Margallo said Monday.
 
German companies are trying not to let themselves be spooked by the economic slowdown in mainland China, even if they concede they are currently seeing a drop in demand for their products there.
 
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