EU Company News

Latest European company news from EUbusiness.com, with business commentary and analysis on companies in Europe.

Bankia revises 2011 results, posts nearly EUR 3bn loss — 26 May 2012, 00:53 CET

Spanish bank Bankia said Friday it had revised its results for 2011, posting a loss of nearly three billion euros instead of the 309 million euro net profit announced in February.

EU 'respects' Argentina's Repsol decision: envoy — 18 May 2012, 23:18 CET

The European Union respects Argentina's decision to seize control of Repsol subsidiary YPF but expects the South American country to compensate the Spanish oil giant.

Popular Bank says Cyprus to back EUR 1.8 bn share issue — 17 May 2012, 15:36 CET

Cyprus's Popular Bank said on Thursday the government had agreed to underwrite the issue of 1.8 billion euros in new shares to help it recapitalise from its exposure to toxic Greek debt.

EADS posts Q1 profit, raises 2012 EPS outlook — 16 May 2012, 11:53 CET

The European aerospace and defence group EADS reported Wednesday renewed confidence in its industrial prospects as the company bounced back into the black in the first quarter of the year.

Spain El Pais publisher posts EUR 8m quarterly loss — 14 May 2012, 22:59 CET

Spain's top media group Prisa, publisher of leading daily El Pais, said Monday it had suffered a net loss of 8.0 million euros ($10.3 million) in the first quarter of this year.

German RWE says might pull plug on Nabucco pipeline — 14 May 2012, 11:38 CET

German power company RWE said Monday it might abandon the Nabucco gas pipeline project, the latest group to consider pulling out of the Austria-Turkey pipeline project aimed at cutting Europe's dependence on Russian energy.

European Commission opens new ING probe — 12 May 2012, 12:39 CET

The European Commission said Friday it had opened an investigation into changes to the restructuring of Dutch banking giant ING, which in 2008 benefited from large-scale state aid.

Brussels gives green light to EDF control of Italy's Edison — 11 May 2012, 23:07 CET

The European Commission Friday gave the green light to the takeover of the Edison group, Italy's second biggest power company, by French electricity giant EDF.

Eurotunnel in EUR 65m bid for SeaFrance assets — 10 May 2012, 22:45 CET

Eurotunnel, the operator of the Channel tunnel between Britain and France, is offering to buy all assets of liquidated ferry company SeaFrance for 65 million euros, a lawyer said Thursday.

Italy's Finmeccanica wins EUR 800m Australia contract — 10 May 2012, 17:34 CET

Italian aerospace giant Finmeccanica said on Thursday it had won a contract worth more than 800 million euros ($1.0 billion) to supply 10 C-27J Spartan transport planes to the Australian military.

London bankers win EUR 50 m court battle — 09 May 2012, 16:25 CET

A group of London investment bankers on Wednesday won their High Court battle to receive a total of 50 million euros in unpaid bonuses.

Dexia bank posts EUR 431 m quarterly loss — 09 May 2012, 10:35 CET

The French-Belgian bank Dexia, rescued with government support, reported on Wednesday a net loss of 431 million euros for the first quarter of 2012.

Trade chief warns of imminent action against Argentina — 07 May 2012, 21:00 CET

European Union trade chief Karel De Gucht said Monday the bloc will shortly take action against Argentina's government, after its decision to seize control of oil giant Repsol's YPF subsidiary.

Euro Disney warns on targets, places hope in summer visits — 07 May 2012, 13:15 CET

The Euro Disney theme park near Paris reported a 22-percent increase in its net loss for the first half of its financial year on Monday and warned it might have to take cost-cutting action.

Nespresso to open new EUR 250m factory to meet demand — 03 May 2012, 16:21 CET

Coffee capsule company Nespresso said on Thursday it intends to open a new factory in western Switzerland costing 300 million Swiss francs (250 million euros, $329 million) to meet growing global demand.

EU urges Bolivia to compensate Spain over electricity grab — 02 May 2012, 17:30 CET

The European Union has condemned Bolivia's decision to take control of a subsidiary of Spanish firm Red Electrica and urged for quick and adequate compensation for the move.

Alcatel posts EUR 398m Q1 profit after unit sale — 26 April 2012, 11:02 CET

The French telecommunications equipment maker Alcatel-Lucent posted Thursday a jump in 2012 first quarter profit, but its shares were hammered owing to disappointment over its operating margin.

Italy's first private high-speed train makes inaugural trip — 20 April 2012, 15:07 CET

Italy's first private high-speed train, launched by Ferrari head Luca di Montezemolo's company NTV and boasting sleek interiors and a cinema carriage, made its inaugural journey on Friday.

EU approves J&J takeover of Synthes — 19 April 2012, 14:05 CET

The European Commission approved Thursday a takeover of the US surgical equipment company Synthes by pharmaceutical giant Johnson & Johnson in exchange for J&Js divestment of other units.

'Disappointed' EU mulls options against Argentina seizure — 17 April 2012, 18:40 CET

European Commission president Jose Manuel Barroso said Tuesday he was "seriously disappointed" by Argentina's decision to expropriate a subsidiary of Spanish oil giant Repsol.

Virgin Atlantic to appeal EU approval of bmi takeover — 15 April 2012, 19:22 CET

Virgin Atlantic on Sunday said it planned to appeal an EU decision to approve the takeover of airline bmi by IAG, the parent group of British Airways, claiming that the deal harms competition.

EU tells Argentina to respect investor rights in Repsol spat — 13 April 2012, 13:52 CET

The European Union urged Argentina on Friday to respect the rights of foreign investments as it voiced concern over reported plans to nationalise a unit of Spanish oil firm Repsol.

Lloyds receives new bid for 632 British bank branches — 12 April 2012, 17:37 CET

Britain's state-rescued Lloyds Banking Group on Thursday said it had received a fresh bid for the 632 bank branches it has been ordered to sell by EU competition regulators.

BASF to build EUR 150m plant in India — 11 April 2012, 15:01 CET

BASF, the world's biggest chemicals maker, said Wednesday it plans to invest 150 million euros in a new production site in Dahej, India.

Fiat confirms targets for 2012 despite sales plunge — 04 April 2012, 16:02 CET

Fiat's CEO on Wednesday confirmed the Italian automaker's targets for 2012 despite a 35.6-percent drop in sales last month and said it would start production in China this year and in Russia in 2013.