Europe News Eastern Europe

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    Sell-off, close down or take into public ownership. These are the options facing Europe's financials. There is no comprehensive US style package for buying up toxic debt and no prospect so far that one will emerge over the horizon to re-liquefy balance sheets. Is that a good thing?

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    Talking to the beer producer at Oktoberfest there is definitely angst, as they say in Germany.

  • Even in times of global financial downturn, you can be sure of one thing people will continue to buy and consume: beer. It would take more than rising commodity costs and plummeting stocks to quench the hardy revelers of these 20 nations. (Ranked per capita.)

    It would take more than rising commodity costs and plummeting stocks to quench the hardy revelers of these 20 nations. (Ranked per capita.)

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    Want to start an altercation at Oktoberfest? Inform the people in your tent that Germany does not lead the world in beer consumption.

  • The brewing industry has faced tough times of late. Traditionally a defensive sector, brewers are facing stiff competition from wine and spirits.

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    There are two types of seating at the Oktoberfest tents: reserved and unreserved. My attempt at entering the reserved seating was blocked by security, press pass notwithstanding.

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    Oktoberfest is in full swing in Munich Monday and there are few signs that the credit crunch and Germany's economic slowdown is impeding the celebrations. But traveling tells a different story.

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    Oktoberfest fans may be gathering in Germany for a feast to forget the turmoil in world financial markets, but the traditionally defensive beer sector looks unlikely to offer investors a safe haven this time, analysts told

  • In tough times, will consumers still love the world's oldest drink? Vote in our poll:

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    Rising fuel and food costs, the threat of job losses and disputes over pensions and pay are just some of the factors that sparked thousands of disgruntled workers to take action this summer.

  • Hungarian oil company MOL, which recently rebuffed a takeover from OMV, has stolen a march on its Austrian rival to acquire INA of Croatia, where regulators approved MOL's bid on Monday.

  • European shares were expected to fall on Monday, tracking losses in U.S. and Asian stocks as Dell's warning on corporate technology spending continued to hit tech stocks while investors fretted about the impact of Hurricane Gustav.

  • European shares are set to open slightly higher on Friday, extending the previous session's sharp gains, after a big upward revision in U.S. second quarter growth, but oil prices rose on supply concerns.

  • A column of Russian tanks rolls near the town of Dzhava in the separatist Georgian province of South Ossetia.

    Russian military convoys rolled out of three key positions in Georgia and headed toward Moscow-backed separatist regions on Friday in a significant withdrawal two weeks after thousands of troops roared into the former Soviet republic.

  • European equities were seen opening slightly lower on Monday, as investors turn cautious following a dip in the U.S. dollar versus the euro and with oil prices rising.

  • A top Russian general on Friday said Poland's deal with the United States to set up parts of a missile defence shield on Polish territory lays it open to a possible military strike, a Russian news agency reported.

  • European equities were set to rise on Friday, tracking gains on Wall Street and in Asia, as a fall in commodity prices further eased concerns over consumer spending and inflation.

  • European equities were seen gaining ground on Thursday, recovering after the previous session's sharp losses as rising commodity prices help support heavyweight mining and energy shares.

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    Georgia and Russia agreed in principle to an EU-brokered peace plan over South Ossetia on Wednesday as the U.S. showed disapproval of Moscow's attacks on its neighbor.

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    UBS will separate its investment bank from its prized wealth management arm, paving the way to sell the business that made it Europe's biggest casualty of the credit crunch.