GENEVA, Sept 3- The European Union is becoming more competitive but Switzerland, Singapore and the United States are the three economies to beat, an annual survey by the World Economic Forum said on Wednesday. The United States muscled into third place ahead of Finland and Germany, while Japan leapfrogged Hong Kong and the Netherlands to take sixth spot.» Read More
European Central Bank President Jean-Claude Trichet said excessive swings in foreign exchange levels are not good for growth. Meanwhile, the ECB lent $5.5 billion at a punitive rate on Wednesday, figures show.
Retail sales growth in the euro region slowed in September, a survey of around 1,000 retail executives showed on Thursday.
The European Central Bank allotted 50 billion euros of three-month refinancing on Wednesday at an average rate of 4.63% -- the highest since March 2001 and evidence of continued tightness on the euro money market.
EU farm ministers fell short of a consensus agreement on Wednesday to allow imports of three genetically modified (GMO) maize types, again revealing their deep differences on GMO crops and foods, officials said.
German business sentiment fell to its lowest level in over 1-1/2 years in September, as turmoil on financial markets exacerbated concerns about an economy already affected by the strong euro and surging oil prices.
The drugmaker Novartis said Monday that the European Commission had approved its Exelon skin patch to treat Alzheimer's disease.
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The U.K.'s top banks are mulling borrowing funds from the Bank of England's 10 billion pounds ($20 billion) facility to remove the stigma attached to it and restore confidence in the banking system, the Financial Times reported Friday.
Norwegian Petroleum and Energy Minister Odd Roger Enoksen has resigned, the prime minister's office said on Friday without naming his replacement.
European Union Competition Commissioner Neelie Kroes said on Wednesday that a top U.S. Justice Department official's criticism of an EU court decision against Microsoft was "totally unacceptable."
U.S. private investment firm Kohlberg Kravis Roberts & Co (KKR) won competition clearance from the European Commission on Wednesday to buy audio equipment maker Harman International Industries for some $8 billion.
The headlines seemed dire enough: Microsoft Smacked; Microsoft Dealt Severe Blow; Microsoft Crackdown. All of it stemming from a European court's decision earlier today to uphold the $605 million fine levied against the world's largest software maker back in 2004 when the company lost its anti-trust case with the European Union.
Microsoft suffered a stunning defeat on Monday when a European Union court backed a European Commission ruling that the U.S. software giant illegally abused its market power to crush competitors.
Microsoft may find it hard to appeal a landmark decision from the European Union Court of First Instance to uphold a European Commission anti-trust fine, because it sets important precedents for EU competition issues, officials said Monday.
Credit worries once more haunt world markets, but frankly, the only headlines that matter are the ones that will be released by the Fed tomorrow afternoon. The big story of today though is what former Fed Chairman Alan Greenspan is saying.
Inflation in the 13 euro nations was 1.7% in August, the European Union's statistical agency said Friday, lowering its earlier estimate of 1.8%.
Risks to global expansion have recently increased due to tensions in the U.S. subprime mortgage market and there are fears of growing spillovers to other segments, the European Central Bank said on Thursday.
Societe Generale, France's second-biggest listed bank, said on Monday that its financial targets for 2007-2008 were unchanged despite experiencing difficult market conditions in August.
British firms' costs fell more than expected in August, while prices at the factory gate rose as forecast, official data showed on Monday.
Euro-zone interest rates have further to rise, European Central Bank Governing Council member Axel Weber said on Friday, although other policymakers stressed no move is imminent given uncertainty over the credit crunch.