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  • LONDON/ SINGAPORE, Aug 4- Oil prices are unlikely to recover soon as Saudi Arabia's drive to boost its refining activities is expected to force refineries elsewhere to slow down their operations, thus creating an even bigger glut of unwanted crude oil. Two big new refineries in Saudi Arabia are adding to growing supplies of diesel and jet fuel, which could mean...

  • BRUSSELS— The European Union and Vietnam clinched on Tuesday an agreement in principle on a new free trade deal that would see the lifting of most tariffs on goods. Vietnam has a growing and dynamic market of some 90 million consumers and officials expect the pact to spur European investment in the South East Asian nation. Under the deal, Vietnam would liberalize...

  • Greece: Stock market reopens with 22 percent loss Monday, 3 Aug 2015 | 4:02 AM ET

    ATHENS, Greece— Greece suffered its worst stock market bloodbath in decades on Monday, when it opened after a forced five-week closure, and new data showed a dismal outlook for the bailout-dependent country's shrinking economy. "There's a sense of panic," said Evangelos Sioutis, financial analyst and head of equities at Guardian Trust. Markets in the rest of the...

  • EU to probe FedEx takeover of Dutch rival TNT Friday, 31 Jul 2015 | 9:38 AM ET

    BRUSSELS— The European Union is opening an in-depth probe into whether FedEx's proposed $4.9 billion takeover of Dutch company TNT would strangle competition in the massive market for small package deliveries. EU Antitrust chief Margrethe Vestager said Friday she had to "make sure that FedEx's takeover of TNT would not impede effective competition and...

  • Unemployment, inflation stable in 19-nation eurozone Friday, 31 Jul 2015 | 5:04 AM ET

    The European Union's statistical agency, Eurostat, said Friday that the jobless rate stood at 11.1 percent in June, unchanged for a third straight month after declines earlier in the year. Among the euro member states, Greece had the highest rate at 25.6 percent and Germany the lowest level at 4.7 percent. The EU's executive Commission has been pushing hard to...

  • *ArcelorMittal has limited China exposure. BRUSSELS, July 31- ArcelorMittal, the world's largest steelmaker, said it would do better in the second half of the year than the first and kept its 2015 profit targets, despite cutting its global forecast for steel demand. ArcelorMittal, which produces 6 to 7 percent of the world's steel, repeated its 2015 for core profit...

  • *Google sticks to position ruling only applies in Europe. BRUSSELS, July 30- Google Inc is refusing to bow to an order from the French privacy watchdog to scrub search results worldwide when users invoke their "right to be forgotten" online, it said on Thursday, exposing itself to possible fines. However, it has limited removals to its European websites, such as...

  • WASHINGTON, July 30- The International Monetary Fund can only approve new loans for Greece after Athens reaches an agreement with European governments that would ensure it can pay its debts, an IMF official said on Thursday. The IMF has teamed up with the European Union and the European Central Bank in recent years to lend Greece money repeatedly to save it from a...

  • *Spain grows at fastest pace since before financial crisis. BERLIN, July 30- Confidence in the euro zone economy hit a four-year high in July and the European Central Bank said recovery is picking up, supported by loose monetary policy aimed at countering persistently low inflation. Spain's economy was a case in point, with data on Thursday showing it growing at...

  • BERLIN, July 30- Germany's finance minister wants to correct the balance between the European Commission's political role and its regulatory powers, reflecting concern in Berlin over the EU executive's neutrality as its political clout grows. A spokeswoman for the German Finance Ministry said on Thursday that Wolfgang Schaeuble had raised the idea at a...

  • BRUSSELS— Belgian farmers are blocking roads and entrances to grocery store distribution centers to protest what they say are unfairly low prices for milk, pork and other products. Lieven De Stoppeleire, a Belgian dairy, potato and grain farmer, said, "Everywhere in Europe the prices are too low, and that has to be stopped." He said he is paid 26 euro cents for each liter...

  • *Serbia says fears "humanitarian catastrophe". SUBOTICA, Serbia, July 30- Swifts darted in and out of nesting holes in the scrubland around an old brick factory in northern Serbia. A month from now Hungary says it will seal its border with Serbia with a 4- metre high, 175- km barrier to keep out migrants streaming through the Balkans, fleeing war, poverty and upheaval in...

  • ATHENS, July 29- Greek Prime Minister Alexis Tsipras, struggling to contain a revolt in his left-wing Syriza party, said on Wednesday that his government would not implement reform measures beyond those agreed with lenders at a euro zone summit this month. At the same time, he is under pressure from Greece's creditors to go beyond the two packages of so-called...

  • ATHENS, July 29- Greek Prime Minister Alexis Tsipras, struggling to contain a revolt in his left-wing Syriza party, said on Wednesday that his government would not implement reform measures beyond those agreed with lenders at a euro zone summit this month. At the same time, Tsipras is under pressure from Greece's creditors to go beyond the two packages of...

  • EU checking if Disneyland Paris charges unfair prices Wednesday, 29 Jul 2015 | 8:05 AM ET

    BRUSSELS— The European Union is looking into complaints that Disneyland Paris is unfairly charging different prices for consumers depending on what nation the request comes from. She said the EU Commission has "received complaints about Disneyland Paris that we are now checking." Complaints addressed to the EU have come from consumers from Britain, Germany...

  • AP PHOTOS: Greece's odyssey through its latest crisis Wednesday, 29 Jul 2015 | 7:48 AM ET

    Greece has endured financial and political chaos since its referendum on July 5 on a bailout proposal by the country's rescue creditors. They let Greece's existing bailout expire, forcing the country to take the drastic action of shutting its banks for three weeks and putting limits on money withdrawals and transfers. The photographs here chronicle...

  • Greece's Tsipras: party rebels could force early election Wednesday, 29 Jul 2015 | 7:16 AM ET

    ATHENS, Greece— Greece's prime minister sought to contain a deepening rift in his radical left Syriza party Wednesday, warning rebels that he would have to call early elections if they keep opposing key reforms demanded for a new international bailout. Representatives of Greece's creditors— its European Union partners and the International Monetary Fund—...

  • Belgium's Solvay to buy US Cytec for $5.5 billion Wednesday, 29 Jul 2015 | 4:55 AM ET

    BRUSSELS— Belgium's chemical group Solvay has announced it will buy U.S.-based Cytec for $5.5 billion, making it the second biggest company in the aerospace composite materials market. In Wednesday's announcement, CEO Jean-Pierre Clamadieu said that the proposed acquisition "marks a major step change in Solvay's portfolio upgrade" to expand into the...

  • ATHENS/ BRUSSELS, July 28- Conflicting statements and denials flew between Athens and Brussels on Tuesday in a war of nerves highlighting the depth of mutual mistrust over a new round of negotiations on an 86 billion euro bailout that started this week. Differences included the pace and conduct of bailout talks, whether or not Greece needs to enact further laws...

  • BRUSSELS— The European Union on Tuesday moved to recognize halloumi, or hellim in Turkish, as a protected cheese from both sides of the Greek-Turkish divided island of Cyprus and lauded it as a symbolic step toward further reunification. The salty, chewy cheese is perhaps Cyprus' greatest gift to world gastronomy and the 28- nation bloc took a major step toward...