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  • WASHINGTON, Feb 1- The main U.S. derivatives regulator on Monday urged the European Commission to quickly finish its work on "equivalence," which would allow European companies to use U.S. clearinghouses for swaps when new EU bank rules come online later this year. But Brussels and Washington have been locked in negotiations over whether their clearing rules are...

  • EU faces opposition to draft bank debt reform Monday, 1 Feb 2016 | 11:35 AM ET

    LONDON, Feb 1- European Union plans to align global and European rules on writing down debt at collapsing banks will be rethought following concerns raised by lenders and member states, people familiar with the situation said on Monday. In a document seen by Reuters, the European Commission suggested last week an "integrated" approach to combining EU rules on "...

  • BRUSSELS, Feb 1- European and U.S. negotiators have missed a deadline to agree a key data transfer pact, the European Commission said on Monday, with talks snagged over a new oversight role and the options for European citizens to seek redress over data privacy violations, sources familiar with the talks said. While talks are continuing and a deal could be clinched...

  • Business events scheduled for the coming month Friday, 29 Jan 2016 | 2:03 PM ET

    WASHINGTON— Commerce Department releases personal income and spending for December, 8:30 a.m.; Institute for Supply Management releases its manufacturing index for January, 10 a.m.; Commerce Department releases construction spending for December, 10 a.m.. BERLIN— Germany's Federal Labor Agency releases January unemployment figures for Europe's biggest...

  • A new deal is crucial for the many thousands of businesses that until late last year relied on "Safe Harbour", a framework which protected Europeans' data moving to the United States, when it was struck down by an EU court over concerns about U.S. European Union data protection law says companies cannot transfer EU citizens' personal data to countries outside the...

  • WARSAW/ BRUSSELS, Jan 29- A new pipeline to double Russian gas flows to Germany will only go ahead if Russia does not cut off Ukraine and eastern European gas flows, German Vice Chancellor Sigmar Gabriel told the Polish government on Friday. During a day-long visit to Poland, Gabriel sought to calm Polish fears, saying he had told Moscow that Nord Stream-2 could only...

  • A new deal is crucial for the many thousands of businesses that until late last year relied on "Safe Harbour", a framework which protected Europeans' data moving to the United States, when it was struck down by an EU court over concerns about U.S. European Union data protection law says companies cannot transfer EU citizens' personal data to countries outside the...

  • "The Commission's decision... clearly shows that the scale of the crisis affecting the European steel sector has not yet fully registered with Brussels," said Gareth Stace, director of UK Steel. According to UK Steel, China accounts for more than 45 percent of the UK rebar market, up from zero four years ago. Kathleen Walker Shaw, European Officer for UK union GMB, said: "...

  • Negative rates in Europe offer little hope for Japan Friday, 29 Jan 2016 | 8:46 AM ET

    On Friday, Japan followed the European Central Bank in cutting a benchmark interest rate below zero, imposing a penalty charge on banks who park money with the institution. Economists, however, said this tactic had seen limited success in the euro zone, Sweden or Denmark, where similar charges have been imposed to encourage banks to lend in the hope of buoying the...

  • BRUSSELS, Jan 29- The European Union will impose duties on imports from China on steel used to reinforce concrete while its investigation into dumping by Chinese producers continues, the EU's official journal said on Friday. UK Steel, an industry body, criticised the ruling. "The Commission's decision... clearly shows that the scale of the crisis affecting the...

  • European authorities want Portugal to keep cutting spending. The aim is to reduce the debt burden that forced Portugal to ask for a 78 billion-euro bailout in 2011. In return for the cash which prevented the country's bankruptcy, Portugal had to enact a series of spending cuts and tax increases that weighed on the economy and pushed unemployment sharply higher.

  • LONDON, Jan 29- World shares jumped and the yen slumped on Friday after the Bank of Japan stunned markets by taking one of its main interest rates into negative territory, its boldest step yet to reinflate the economy. The yield on Japanese benchmark government bonds plunged to record lows after the central said it would charge 0.1 percent for excess reserves...

  • LONDON, Jan 29- European equities bounced back on Friday, tracking a rally in Asia after the Bank of Japan stunned the markets by voting narrowly to introduce negative interest rates in a bid to revive inflation. Japan's central bank said it would charge 0.1 percent for excess reserves parked with the institution, an aggressive deflation-fighting policy...

  • LONDON, Jan 29- European equities bounced back on Friday, tracking a strong rally in Asian shares after the Bank of Japan stunned markets by announcing negative interest rates in a bid to boost the economy. Japan's central bank said it would charge 0.1 percent for excess reserves parked with the institution, an aggressive policy pioneered by the European...

  • WASHINGTON/ BRUSSELS, Jan 28- A U.S. Senate panel approved measures on Thursday that were causing concern in Europe among negotiators hammering out a new trans-Atlantic pact on electronic data transfer, an issue for many companies such as Facebook and Microsoft. In a step toward addressing global concerns about data privacy, the Senate Judiciary Committee...

  • *New rules aim at reducing annual tax losses of up to 70 billion euros. BRUSSELS, Jan 28- The European Commission weighed into the row about multinational corporations avoiding tax on Thursday, proposing to clamp down on companies shifting their profits to low-tax countries. Big corporations legally avoid taxes of up to 70 billion euros a year in Europe, a study of...

  • BRUSSELS, Jan 28- The European Union is offering Britain a new "emergency brake" rule that could help curb immigration from other EU states in a reform package before a British referendum on EU membership, sources close to the negotiations told Reuters on Thursday. Cameron will discuss the proposal in Brussels on Friday with European Commission President...

  • EU unveils new proposals to combat sweet tax deals Thursday, 28 Jan 2016 | 5:59 AM ET

    BRUSSELS— The European Union has unveiled new proposals to combat tax evasion by big companies by trying to end sweet deals between member countries and multinationals. He noted that 50- 70 billion euros are lost annually due to tax evasion. The Commission opened tax probes in 2014 into Apple in Ireland, Starbucks in the Netherlands and Amazon in Luxemburg, and is...

  • BRUSSELS— NATO declared Thursday that alliance defense spending is finally moving in the "right direction," although one country, the United States, still accounts for almost three-quarters of the alliance's total military expenditures. NATO secretary-general Jens Stoltenberg said in 2015, 16 NATO countries not only stopped cuts to their defense budgets...

  • PARIS— France's government welcomed Iranian President Hassan Rouhani on Thursday with promises of a new beginning in an old relationship, starting with investments to boost Iran's flagging economy crippled by decades of sanctions over its nuclear activities. France has asked its European Union partners to consider new sanctions on Iran for its recent...