The European Union
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While Europe has shale plans of its own, there is as yet no unified EU policy. The reserves will be far harder to extract than in the United States and the final cost to consumers is likely to be substantially higher so Europe will not be able to free itself of dependence on gas imports from Russia any time soon.
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While Europe has shale plans of its own, there is as yet no unified EU policy. The reserves will be far harder to extract than in the United States and the final cost to consumers is likely to be substantially higher so Europe will not be able to free itself of dependence on gas imports from Russia any time soon.
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BRUSSELS/ PARIS, May 21- Growing concern in European capitals about aggressive tax avoidance by high-profile corporations such as Amazon, Google and Apple looks set to steal the agenda of a European Union summit in Brussels on Wednesday.
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EU regulators confirmed on Tuesday that they will cap bonuses of bankers earning more than 500,000 euros a year and added other conditions to make the pay ceiling harder to smash.
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*EU says FTA with China would depend on concessions from Beijing. BRUSSELS, May 21- The European Union is willing to deepen trade ties with China but wants to see concessions from Beijing first, documents seen by Reuters on Tuesday showed.
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*Follows Commission consultations with member states. BRUSSELS, May 21- The European Union wants to exempt state control of utilities and support for creative industries from free trade talks with the United States due to start next month, the latest draft of Brussels' negotiating mandate showed on Tuesday.
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WASHINGTON, May 21- WASHINGTON, May 21- The United States is not actively negotiating a solar trade deal with the European Union and China, a spokeswoman for the U.S.
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CNBC's Simon Hobbs reports the top business stories from Europe, as investors worry the U.S. Federal Reserve may taper its bond purchase program.
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May 21- The European Banking Authority on Tuesday published draft rules on how national regulators in the European Union must decide which bankers will have their bonus capped from 2014.. The EBA launched a public consultation until Aug. 21 on its rules for implementing an EU law that says bonuses must be no more than fixed salary.
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The headline figure was leaked last Friday, triggering warnings by banks in the European Union that they may lose staff to other parts of the world, and that London, the bloc's top financial centre, could be damaged. Accounting firm PwC predicted that up to 10 times the number of bankers in London will be hit compared with current pay curbs.
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WASHINGTON, May 21- The United States is not yet actively negotiating a solar trade deal with European Union and China, a spokeswoman for the U.S. Trade Representative's office said on Tuesday.
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Germany, the euro zone's largest economy, is on track for a recovery thanks to a pick-up in demand for its products from abroad, the Bundesbank said on Tuesday.
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A draft law that EU lawmakers voted for on Monday would shield small depositors in future bank rescues, but customers with more than 100,000 euros could suffer losses.
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Richard Martin, Managing Director of IMA Asia says expect more pain, risk and uncertainty for Europe ahead. However he sees a bright spot in the export sector for Europe.
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Berlin is drawing up plans for treaty changes to streamline decision-making in the euro zone, while stopping short of any wholesale renegotiation allowing the UK to repatriate powers from Brussels. The Financial Times reports.
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STRASBOURG, France, May 20- A draft law that a group of European Union lawmakers voted for on Monday would shield small depositors from losing their savings in future bank rescues, but customers with more than 100,000 euros in savings when a bank failed could suffer losses.
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CNBC's Simon Hobbs reports on all the market moving events from Europe today, as the FTSE 100 touches its highest level since September 2000.
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A bank and savings institution in the Czech Republic was closed and all deposits frozen pending a fraud investigation by the Czech central bank and ministry of finance.
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LONDON/ STRASBOURG, France, May 20- A European Union law up for a vote on Monday will only fully shield taxpayers from bailing out troubled banks if there is a global framework as well, a top UK regulator said on Monday.
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An independent Scotland is at risk of a Cyprus-style banking crisis, as its banking sector would be "exceptionally large" compared to the size of its economy.
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Portugal's top bankers have called on Europe's leaders to stop "playing with fire" and moderate their stance towards the euro zone periphery, or risk instilling alarm among bank depositors in future, the FT reports.