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Business news and information from the European Union

Clinton arrives for security talks in Munich — 04 February 2012, 01:32 CET

US Secretary of State Hillary Clinton arrived here Friday for international security talks where aides said she would send a "strong message of support" for ties with Europe as Washington makes a strategic pivot to Asia.

Serbia's Tadic ready to meet Thaci to talk Kosovo solution — 03 February 2012, 23:10 CET

Serbian President Boris Tadic said Friday he was ready to meet Kosovo prime minister Hashim Thaci if he would agree to discuss Belgrade's "plan" for the breakaway territory.

Euro finance ministers scrap meeting as Greek talks drag on — 03 February 2012, 18:44 CET

Eurozone finance ministers scrapped plans to meet Monday, just days before a bond swap to avoid a default is due to start.

EU says gas supplies are down despite Gazprom claims — 03 February 2012, 18:38 CET

The European Commission said Friday that Russian gas deliveries have fallen in nine countries, with Gazprom invoking flexibility clauses as it also braves a cold snap.

Football: Fan lobby set to caution Euro 2012 price hikes — 03 February 2012, 18:37 CET

Europe's football fan lobby is ready to take action amid raging concerns over snowballing accommodation prices in Euro 2012 co-hosts Poland and Ukraine, it said Friday.

Europe has 'nothing to fear' from US focus on Asia: Germany — 03 February 2012, 18:31 CET

Europe should not fear a renewed US focus on Asia and must increasingly look after its own backyard militarily without its historic ally, Germany's defence minister said on Friday.

EU's Ashton to visit Brazil for Syria, Iran talks — 03 February 2012, 18:29 CET

European Union foreign policy chief Catherine Ashton will begin an official visit to Brazil Sunday for wide-ranging talks, notably on the civil strife in Syria and the Iranian nuclear crisis, the foreign ministry said Friday.

French, German cabinets to meet Monday on crisis — 03 February 2012, 18:29 CET

President Nicolas Sarkozy and Chancellor Angela Merkel will preside over a joint Franco-German cabinet session Monday to focus on the eurozone economic crisis, Sarkozy's office said.

Bosnia adopts two key EU-sought laws — 03 February 2012, 18:19 CET

Bosnia's parliament on Friday passed two laws regarded as vital for the country's efforts to join the European Union.

Spain launches EUR 50bn bank reform — 03 February 2012, 16:44 CET

Spain's conservative government Friday launched a major clean-up of the country's troubled banks, approving a law that obliges them to set up a financial safety net totalling 50 billion euros.

Hungarian airline Malev grounded after 66 years — 03 February 2012, 16:43 CET

Hungary's national airline Malev, which has been making losses for years, was grounded Friday almost a month after the European Union said the carrier had to pay back state aid.

Greek debt deal 'within reach': Commission — 03 February 2012, 16:04 CET

A deal to restructure some 200 billion euros of privately-held Greek sovereign debt that would pave the way for a new financial rescue is "within reach," the European Commission said on Friday.

'Final phase' in Greek bailout deal, debt talks: PM — 03 February 2012, 15:28 CET

Greece is in the "final phase" of negotiations on a eurozone bailout and a debt swap deal critical to its economic survival, Prime Minister Lucas Papademos said on Friday.

EU climate chief sees 'unpleasant' talks ahead — 03 February 2012, 12:27 CET

EU climate chief Connie Hedegaard acknowledged Friday that "difficult and unpleasant" negotiations lay ahead with countries like India and China to agree a global framework to cut greenhouse-gas emissions.

Eurozone retail sales slip during key holiday period — 03 February 2012, 12:23 CET

Eurozone retail sales fell in the key run-up to Christmas, dropping 0.4 per cent in December compared with November, the European Union's data agency said on Friday.

Iran will respond to any oil, military threats: Khamenei — 03 February 2012, 12:22 CET

Iran will respond with threats of its own to intensifying warnings of military attacks and Western sanctions, its supreme leader said Friday in remarks particularly aimed at archfoe the United States.

Eurozone private sector rebounds: PMI survey — 03 February 2012, 12:21 CET

Eurozone private sector activity bounced back in January after four months of contraction, a key survey showed Friday, with notable increases in the two biggest economies, Germany and France.

EU signs orders for new Galileo space satellites — 03 February 2012, 10:55 CET

The EU on Thursday signed contracts with German and French engineering firms to build and launch another eight satellites for its Europe's Galileo geopositioning system.

Ex-Romania PM handed two-year sentence for graft — 02 February 2012, 21:53 CET

Former Romanian prime minister Adrian Nastase was sentenced Monday by the Supreme Court to a two-year jail term for corruption at the end of a trial closely monitored by the European Union.

Spain unveils EUR 50bn bank sector clean-up — 02 February 2012, 19:49 CET

Spain's government unveiled reforms Thursday that will oblige banks to clean up their bad loans by building up provisions and capital reserves totalling 50 billion euros.

NYSE Euronext, Deutsche Boerse cancel merger deal — 02 February 2012, 19:47 CET

Deutsche Boerse and NYSE Euronext cancelled their mega-merger Thursday after European regulators vetoed the deal.

Greece seeking backup oil supply against Iranian embargo — 02 February 2012, 15:44 CET

Greece on Thursday said it was looking for alternative options to counterbalance the effects of a planned European Union embargo on Iranian oil imports on its struggling economy.

EU seeks independent probe into Egypt football violence — 02 February 2012, 15:43 CET

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.

Eurozone needs 'federal fiscal union' to survive: Czech PM — 02 February 2012, 15:43 CET

Czech Prime Minister Petr Necas, who recently nixed his country's membership in the EU's new budgetary discipline pact, on Thursday said the eurozone needed a federal fiscal union in order to survive.

Romanian leader slams Dutch 'abuse' over Schengen — 02 February 2012, 12:28 CET

Romania's President Traian Basescu on Thursday accused the Netherlands of abuse over its blocking of Romania and Bulgaria's accession to the visa-free Schengen area.