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Business news and information from the European Union

EU welcomes Visa card move to cut fees — 14 May 2013, 20:13 CET

Credit-card giant Visa has agreed to cut some of its inter-bank fees, by up to 60 per cent, to meet EU anti-trust concerns, the European Commission said on Tuesday.

Serbia, Kosovo to meet next week on Brussels accord — 14 May 2013, 20:13 CET

The prime ministers of Serbia and Kosovo will meet in Brussels on May 21 for follow-up talks on an EU-brokered deal aimed at normalising their ties, EU foreign policy chief Catherine Ashton's office said Tuesday.

EU toils on preferential status for big depositors in bail-ins — 14 May 2013, 19:03 CET

European finance ministers struggled Tuesday to agree ground rules on how to treat big depositors in future Cyprus-style bank 'bail-ins' when lenders go to the wall.

Germany cancels 'Euro Hawk' drone programme — 14 May 2013, 18:56 CET

Germany has cancelled a planned 'Euro Hawk' drone programme fearing European authorities will not certify them, a defence ministry source said Tuesday after reported European safety concerns.

Mali president will do utmost to ensure polls on July 28 — 14 May 2013, 18:55 CET

Mali's interim President Dioncounda Traore said Tuesday he will do his utmost to ensure that national elections, a key goal of the troubled country's backers, take place as planned on July 28.

Failure of EU fisheries talks would be 'disaster': Ireland — 14 May 2013, 17:00 CET

It will be a "disaster" if difficult talks on reform of the EU's under-pressure fishing regime fail to deliver an agreement, Ireland warned Tuesday, calling on all sides to compromise.

Small euro coins may be dropped — 14 May 2013, 17:00 CET

Small change in the euro, one and two-cent coins, expensive to make and a nuisance for many, may have no future, the European Commission said Tuesday.

Britain's Cameron bows to pressure on EU referendum law — 14 May 2013, 16:58 CET

British Prime Minister David Cameron bowed to pressure from his restive Conservative party on Tuesday and published a bill to hold a referendum on membership of the European Union.

Cyprus aims to regain trust by 2016 after bailout cash — 14 May 2013, 13:06 CET

Cyprus aims to recover market confidence by 2016 after receiving the first tranche of a 10 billion euro rescue package to save its recession-hit economy, Finance Minister Haris Georgiades said on Tuesday.

EADS posts profit leap as Airbus orders soar — 14 May 2013, 12:15 CET

European aerospace giant EADS said Tuesday its first quarter profits soared 91 percent from a year ago to 241 million euros ($316 million) amid solid demand for its commercial aircraft.

Support for EU on the slide: Pew survey — 14 May 2013, 12:15 CET

Popular support for the European Union and greater economic integration to combat the debt crisis has fallen sharply, especially in key member France, a Pew Research survey shows.

14 EU culture ministers seek exemptions from a US trade deal — 14 May 2013, 12:15 CET

European culture ministers from Germany, France and 12 other member nations have called for the audiovisual sector to be exempted from negotiations for an EU-US free trade deal.

EU seeks to unleash crackdown on tax evasion — 14 May 2013, 12:14 CET

European finance ministers bid Tuesday to unlock a trillion-euro annual crackdown on tax evasion, under pressure from EU leaders looking for new measures to boost job creation and growth.

Germany threatens new EU bailout plans — 14 May 2013, 12:01 CET

Germany's finance minister warned that only EU treaty change would create the legal framework needed to allow the formation of a single bailout agency for its ailing banks, in an article for Monday's Financial Times.

Austria warns against arms shipments to Syrian rebels — 14 May 2013, 12:00 CET

Austria has warned its 26 European Union partners in a letter against providing weapons for rebel movements in the Syrian conflict, said a press report to be published Tuesday.

Slovenia yet to dispel bailout concerns, warns Rehn — 14 May 2013, 12:00 CET

The European Union's top economic official warned Monday that Slovenia may not have done enough to escape becoming the eurozone's sixth bailout case.

Cameron: 'no exceptions' in US-EU free trade talks — 13 May 2013, 21:24 CET

British Prime Minister David Cameron said Monday that all subjects and products should be up for discussion in coming negotiations on the proposed US-EU free trade area.

Obama backs Cameron's call for reformed EU membership — 13 May 2013, 20:17 CET

President Barack Obama on Monday endorsed Prime Minister David Cameron's Europe strategy, as his guest faces a rebellion from within his Conservative Party on whether to pull Britain out of the EU.

Crisis-hit Spain, Portugal back youth jobs plan — 13 May 2013, 19:57 CET

Recession-hit Spain and Portugal said Monday they welcomed "any plan" to fight youth unemployment, after reports that European powers planned to invest billions in getting young people back to work.

Cameron: next 5 weeks 'crucial' for US-EU trade talks — 13 May 2013, 19:36 CET

British Prime Minister David Cameron said Monday that talks on the proposed US-EU free trade area could be launched by next month's Group of Eight meeting in Northern Ireland.

Warsaw, Prague want common gas market in Central Europe — 13 May 2013, 19:35 CET

The prime ministers of Poland and the Czech Republic on Monday called for a common gas market in Central Europe that would span from the Baltic sea to the Adriatic.

Portugal signals EU-IMF agreement — 13 May 2013, 18:13 CET

The Portuguese government is signalling that it has reached an agreement with IMF and EU creditors on its latest radical austerity measures to correct public finances, after the constitutional court struck down some of the proposed policies.

EU bailout fund releases Cyprus aid payment — 13 May 2013, 18:12 CET

The EU on Monday handed over the first two billion euros of loans agreed under the controversial Cyprus aid deal, the bloc's European Stability Mechanism said in a statement.

EU begins difficult talks on fishery reforms — 13 May 2013, 17:53 CET

EU fisheries ministers began difficult talks Monday on reforms to the bloc's under-pressure fishing regime, with plans to stop the dumping of unwanted fish a key sticking point.

Afghans, Croatians charged with human trafficking — 13 May 2013, 17:52 CET

Prosecutors in Croatia on Monday pressed charges on three Afghans and seven Croatians for their alleged role in a human trafficking network that smuggled people into the European Union.