EU halts exchange merger - EUbusiness Week newsletter 560
EUbusiness Week 560 top stories: Race to fix Greek debt relief gathers pace; EU signs orders for new Galileo space satellites; EU opens antitrust probe against Samsung; WTO approves two-year trade waiver for Pakistan; Russia halts animal imports from parts of EU over virus; Eurozone consumer confidence ends 10-month drop
This Week's Top Stories
1. Race to fix Greek debt relief gathers pace
2. EU signs orders for new Galileo space satellites
3. EU opens antitrust probe against Samsung
4. WTO approves two-year trade waiver for Pakistan
5. Russia halts animal imports from parts of EU over virus
6. Eurozone consumer confidence ends 10-month drop
Publisher's Note
The European Commission provoked much reaction this week by prohibiting
the proposed merger between Deutsche Börse and NYSE Euronext, on the
basis of the EU Merger Regulation.
Competition Commissioner Joaquin Almunia insisted the decision
was made purely with regard to underlying European economic
fundamentals. The two companies were the only real competitors in the
market in European financial derivatives, of which the combined company
would control 90 per cent.
Deutsche Börse and NYSE have now cancelled their merger, and
said the announcement was a "dark day" for Europe and the EU was "out of
touch with reality". The Commission, however, believes it had no
alternative.
More ...
Regards,
Nick Prag
Publisher, EUbusiness
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1. Race to fix Greek debt relief gathers pace
Officials took the first steps Tuesday in a high-pressure bid to wrap up
a massive debt relief deal for Greece within a week. Pressure to
accelerate action and reach a deal has also risen with experts
predicting that Portugal may need its own restructuring or second
bailout later this year.
More ...
2. EU signs orders for new Galileo space satellites
The EU on Thursday signed contracts with German and French engineering
firms to build and launch another eight satellites for Europe's Galileo
geopositioning system.
More ...
3. EU opens antitrust probe against Samsung
European regulators have opened an antitrust probe against Samsung
Electronics to determine whether the South Korean group has distorted
competition in European mobile device markets.
More ...
4. WTO approves two-year trade waiver for Pakistan
The World Trade Organization has approved a waiver allowing 75 Pakistani
products duty free access to European markets for two years to help
textile exports after devastating floods in 2010.
More ...
5. Russia halts animal imports from parts of EU over virus
Russia is suspending live-animal imports from parts of Europe over fears
of a newly discovered virus that causes birth defects in sheep, goat
and cattle.
More ...
6. Eurozone consumer confidence ends 10-month drop
Consumer and business confidence in the 17-nation eurozone improved
slightly in January, halting a 10-month decline, official data showed on
Monday.
More ...
EUROPEAN CASE LAW
Adrian Nastase: former Romanian prime minister Adrian Nastase has been
sentenced by the Supreme Court to a two-year jail term for corruption at
the end of a trial closely monitored by the European Union.
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Latest Court of Justice judgements
EU Law Firms
EU Law ...
Inside the EU Institutions
Council Watch
Trade: European Union leaders gave their backing on Monday to calls from
Germany and Britain to pursue ambitious talks on a free-trade deal with
the United States.
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With friends like these: British PM in Europe balancing act
Ireland mulls if referendum needed for EU fiscal pact
Council ...
Commission Watch
Egypt: the EU called Thursday for an external probe to be conducted into
an eruption of violence in Egypt that claimed 74 lives at a football
match and sparked new anger against the country's military rulers.
More ...
EU urges UN to act on Syria 'without further delay'
Commission ...
Euro-Parliament Watch
Farage outburst: Eurosceptic British MEP Nigel Farage stormed out of the
European Parliament Wednesday after its German chairman cut him off in
mid-flight for comparing Berlin's ideas for Greece to Nazi control.
More ...
In plenary this week, MEPs largely welcomed the new fiscal pact but said
more was needed on growth; urged Member States to stop harbouring
dictators' assets; and called on the Commission to table legislation
allowing limited liability companies to migrate anywhere within the EU.
Parliament ...
EU diary
1-3 Feb, Competitiveness Council informal
9 Feb, ECB Governing council meeting
10 Feb, Education, Youth, Culture and Sport Council
14 Feb, Transport, Telecommunications & Energy Council
17 Feb, Employment, Social, Health & Consumer Council
The Week Ahead
Long-term diary
RESOURCES
EU Law Firms
Summaries of EU Legislation
EU Decision-Making
Treaties of the European Union
Key EU Legal Terms
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EU mulling lighter lending rules for banks: report 2-Feb
Eurozone inflation steady at 2.7% in January 1-Feb
Eurozone manufacturing turns as German output expands 1-Feb
France faces EUR 79bn charge for nuclear power 31-Jan