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EU and Russia agree to 'early warning' setup on energy cuts

Business | Energy
2009-11-17

THE European Union and Russia yesterday agreed to an "early warning" mechanism to shield Europe from potential energy supply cuts and protect consumers in the event of a repeat of last year's Russia-Ukraine gas dispute. ...

EU fines 10 firms for price fixing

Business | Lawsuits and scandals
2009-11-12

EUROPEAN Union regulators yesterday jointly fined Akzo, Ciba, Elf Aquitaine and seven others 173 million euros (US$259 million) for fixing the price of plastic additives. Ciba was fined 68.4 million euros, Akzo...

Thomson Reuters faces EC questions

Business | Lawsuits and scandals
2009-11-11

EUROPEAN Union anti-trust regulators launched an investigation yesterday into news and financial data publisher Thomson Reuters' use of its real-time market data feed, saying it might block users moving to rival...

Interest rates at record lows

Business | Macro-economy and policy
2009-11-6

THE European Central Bank and the Bank of England kept interest rates at record lows yesterday as their economies struggle to emerge from recession. The British central bank decided on an extra boost by adding...

Exxon, Shell seal US$50b Iraqi oil deal

Business | Energy
2009-11-6

A consortium grouping United States and European oil giants Exxon Mobil Corp and Royal Dutch Shell Plc yesterday signed a US$50-billion deal to develop one of Iraq's most prized oil fields, as the OPEC nation looks...

Modest EU growth expected

Business | Macro-economy and policy
2009-11-4

THE European Commission yesterday predicted that the European Union and eurozone would grow in 2010 at a modest rate of 0.7 percent. In May, it said the economies would likely shrink 0.1 percent in 2010. The...

MTV to celebrate music and unification

World
2009-11-3

THIS time it's Berlin calling. The MTV European Music Awards (EMAs) are coming to Berlin, Germany, with an international cast, featuring performances by U2, the Foo Fighters, Shakira and Leona Lewis. "This...

First lady's childhood home hits the market

World
2009-10-30

IF you've always wanted to live like an Italian heiress, supermodel, pop star and wife of a European head of state, there's a castle on the market in Turin that might be worth a look. The historic home in the...

EU firms remain committed to China

Business | Foreign investment
2009-10-30

EUROPEAN companies are confident of China's economic outlook and won't withdraw or reduce their investment in the country because of the global financial crisis, said Joerg Wuttke, president of the European Union...

EU approves UK plan to split off a 'bad bank'

Business | Banking
2009-10-29

THE European Union yesterday approved the British government's plan to split off a "bad bank" to take over shaky assets from bailed-out lender Northern Rock. It also approved the government rescue and nationalization...