BRUSSELS— The European Union unveiled Wednesday a long-term strategy to help its technology companies compete with U.S. giants like Google and Amazon by unifying the continent's digital sector and taking a hard line on abuses by dominant firms. EU Commissioner Andrus Ansip said the EU is still far too fragmented into 28 national markets and needs more common...» Read More
Deutsche Telekom will cut more jobs when a self-imposed moratorium expires at the end of 2008, the company said Wednesday.
Euro zone economic growth slowed far more sharply than expected in the second quarter as industrial production stalled in June, data from the European Union's statistics office showed on Tuesday.
The European Central Bank lent banks 73.5 billion in extra funds on Tuesday, topping up their coffers for one week to help ease tensions in the euro-zone credit markets.
The European Central Bank on Monday injected another 47.67 billion euros ($65 billion) into the banking system in a bid to soothe rattled credit markets, but said that market conditions are "normalizing."
The European Central Bank made a second move to boost liquidity in the financial market Friday, putting 61.05 billion ($83.6 billion) into the euro money markets, having already injected 94.8 billion euros Thursday.
The European Central Bank injected 94.841 billion euros ($129.74 billion) into euro-zone money markets on Thursday to help calm to jittery markets roiled by credit problems.
General Electric won EU approval Friday to sell its plastic division to petrochemicals manufacturer Saudi Basic Industries for about $11.6 billion.
The European Central Bank kept its core lending rate at 4% Thursday, as widely expected, but a hike in September was signaled. The Bank of England also held steady, leaving rates at 5.75%.
Intel slashed prices below cost and gave huge rebates in an illegal attempt to drive its smaller competitor out of the market, the European Union said on Friday in charges against the world's largest chipmaker.
A European court confirmed on Tuesday that it will rule on Sept. 17 on whether software giant Microsoft broke European Union antitrust regulations.
European new car registrations rose 0.7% in June as demand in the countries that recently joined the European Union offset a decline in western Europe.
Schneider Electric won compensation from the EU on Wednesday for its refusal to let the company buy Legrand SA in 2001, the first time a court has ordered regulators to reimburse a business for losses due to a takeover ban that was later overturned.
Ryanair Holdings, the discount airline prevented from buying rival Aer Lingus, said Tuesday it will take to court EU competition authorities over their alleged failure to enforce competition rules fairly.
The European Union on Tuesday chose France's Dominique Strauss-Kahn to head the International Monetary Fund.
France's crusading new president will charge Monday into a carefully balanced set of economic rules designed to keep the currency his nation shares with 12 other countries stable and trusted.
German Chancellor Angela Merkel has made it clear to French President Nicolas Sarkozy that Germany will firmly resist any efforts to impinge upon the European Central Bank's independence, Der Spiegel news magazine reported on Sunday.
European Union antitrust regulators approved the takeover of Spain's largest utility Endesa by Acciona and Italian utility Enel on Thursday.
EU regulators fined Spain's Telefonica 151 million euros ($205 million) on Wednesday, claiming the company unfairly squeezed rivals by setting wholesale Internet prices too high to allow them turn a profit.
Private U.S. equity firm Cerberus won approval from the European Commission on Tuesday to buy the Chrysler operations of auto giant DaimlerChrysler, under a simplified procedure.
France will press its European Union partners for more time to balance its budget so that it can implement structural reforms, the country's Europe minister said in an interview published today.