By PAN PYLASAssociated Press
LONDON (AP) - In spite of years of harsh spending cuts and tax increases, Europe's debt problems are getting worse.
Figures from the EU's statistics office Wednesday showed that, at the end of the second quarter, the total government debt of the 17 countries
MOSCOW (AP) - Ratings agency Moody's on Wednesday placed Rosneft and TNK-BP on review for downgrade following Rosneft's agreement to buy the joint venture between BP and a group of Russian oligarchs.
State-owned Rosneft on Monday unveiled a deal to buy TNK-BP, Russia's third-largest oil
By LORI HINNANTAssociated Press
PARIS (AP) - France is offering a €7 billion ($9.1 billion) lifeline to PSA Peugeot Citroen, the carmaker confirmed Wednesday alongside another drop in sales.
In return, the Socialist government is expected to demand a reduction in layoffs, hoping to blunt rising
By RAF CASERTAssociated Press
BRUSSELS (AP) - Ford Motor Co. announced Wednesday it planned to close a car plant in eastern Belgium - one of its main European factories - by the end of 2014, a move that would result in 4,500 direct job losses and 5,000 more among subcontractors.
Exactly half a
FRANKFURT, Germany (AP) - General Motors is saying more about the kind of cars it will build as part of its alliance with France's PSA Peugeot Citroen.
The companies said Wednesday they'll develop a joint program that will make a small van for GM's Opel and Vauxhall brands and serve as
By ROD McGUIRKAssociated Press
CANBERRA, Australia (AP) - The head of the Australian subsidiary of Huawei Technologies Ltd. has urged Australia not to be swayed by report from the U.S. Congress that referred to the Chinese telecommunications giant as a potential security risk.
FRANKFURT, Germany (AP) - Business software maker SAP AG saw its third quarter profit fall from a year ago because of a large one-time gain booked then, but the company raised its sales outlook for the year and said its business in cloud computing was growing fast.
Net profit came in at €618
AMSTERDAM (AP) - The Dutch brewer Heineken NV said Wednesday third quarter net profit rose 9.9 percent to €577 million ($749 million), with growth in all regions except Europe.
The company said profits increased thanks to higher sales and savings from jobs it has cut, offset somewhat by higher raw
By GEIR MOULSONAssociated Press
BERLIN (AP) - The European Central Bank's president drew a broadly positive response from German lawmakers Wednesday when he told them that his bond-buying plan won't stoke inflation and will not allow struggling countries to backslide on economic reforms
By PABLO GORONDIAssociated Press
The price of oil hovered under $87 a barrel Wednesday as hopes that the slowdown in Chinese manufacturing might be stabilizing helped shore up sentiment across financial markets.
By early afternoon in Europe, benchmark oil for December delivery was down 12 cents