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  • Portuguese ex-premier kept in jail amid fraud case Sunday, 23 Nov 2014 | 6:00 AM ET

    LISBON, Portugal— Former Portuguese Prime Minister Jose Socrates remains in police detention while an investigating magistrate decides whether he should answer charges of corruption, money-laundering and tax fraud. Socrates, who was Portugal's center-left Socialist prime minister from 2005 to 2011, was due in a Lisbon court Sunday for a closed-door...

  • Portuguese police detain ex-premier in fraud case Saturday, 22 Nov 2014 | 4:11 AM ET

    LISBON, Portugal— Former Portuguese Prime Minister Jose Socrates has been detained by police as part of an investigation into corruption, money-laundering and tax fraud, Portugal's Attorney-General's office said Saturday. Socrates, who was Portugal's prime minister from 2005 to 2011, was taken into custody late Friday with three others, according to a...

  • Yikes! Olive oil prices could soar on poor harvest Tuesday, 18 Nov 2014 | 11:47 AM ET
    Italy's 2014 olive harvest was declared by both producers and experts as the worst in history, due to adverse climatic conditions which helped the olive fly proliferate, thus destroying the olives before they could be harvested.

    If your favorite bottle of Mediterranean olive oil starts costing more, blame unseasonable European weather—and tiny insects.

  • Portugal gets first female interior minister Tuesday, 18 Nov 2014 | 10:45 AM ET

    LISBON, Portugal— A female law professor with no political career is Portugal's new head of the police and immigration services, replacing an interior minister who quit the government amid a corruption scandal. Anabela Rodrigues, a former head of Coimbra University's law faculty, was appointed to the government Tuesday. She is the first woman to serve as...

  • Blighted harvest drives olive oil price pressures Tuesday, 18 Nov 2014 | 2:19 AM ET

    BEJA, Portugal— If your favorite bottle of Mediterranean olive oil starts costing more, blame unseasonable European weather— and tiny insects. High spring temperatures, a cool summer and abundant rain are taking a big bite out of the olive harvest in some key regions of Italy, Spain, France and Portugal. In Spain, the world's biggest producer, the young farmers'...

  • Portuguese government official quits amid scandal Sunday, 16 Nov 2014 | 3:00 PM ET

    LISBON, Portugal— Portugal's most senior official in charge of domestic security has resigned amid a corruption scandal. Miguel Macedo, the government's minister for internal administration, announced Sunday he was quitting after last week's arrests of several senior officials overseen by his department, including the head of the country's immigration...

  • 11 detained in Portugal corruption investigation Thursday, 13 Nov 2014 | 12:58 PM ET

    LISBON, Portugal— Portuguese media say police have detained the head of the country's immigration service and several other senior officials in a corruption investigation centered on the granting of residence permits to investors from outside the European Union. Portugal offers so-called "golden visas" to non-EU citizens who invest large amounts.

  • LISBON, Nov 13- Portugal's recently-privatised postal service CTT left the door open on Thursday to joining the bidding for PT Portugal, the local operating business of Portugal Telecom which is now owned by Brazilian group Oi, saying it was monitoring the sale process. Oi has said it might sell Portugal Telecom's operations in Portugal after its protracted...

  • Portugal in 2nd attempt to sell national carrier Thursday, 13 Nov 2014 | 10:06 AM ET

    LISBON, Portugal— Portugal's government is trying for the second time in two years to sell flag carrier TAP Air Portugal. Transport Secretary Sergio Monteiro said the government has received several expressions of interest in the airline, though he gave no details or price estimate for the stake. TAP flies to 198 destinations, including 104 in Europe and 65 in...

  • UPDATE 1-Bain, Apax join bid battle for Portugal Telecom Wednesday, 12 Nov 2014 | 7:51 AM ET

    LISBON/ PARIS, Nov 12- Private equity firms Bain Capital and Apax Partners have launched a bid worth 7.075 billion euros to buy the Portuguese operating business of Portugal Telecom from Brazil's Oi, rivalling last week's offer from telecoms group Altice. Oi is considering selling Portugal Telecom assets to reduce its debt of over $18 billion, which would...

  • LISBON, Nov 11- Angolan investor Isabel dos Santos said on Tuesday she was willing to change the terms of her bid to buy Portugal Telecom if necessary, to prevent Brazil's Oi from selling PT's assets to a rival party. Dos Santos launched the bid for Portugal Telecom, a holding company with a 25.6 percent stake in the combined Oi-PT company, partly in an attempt to...

  • Angolan, French bids target Portugal Telecom Monday, 10 Nov 2014 | 6:19 AM ET

    LISBON, Portugal— A battle has started for control of Portugal Telecom, with an Angolan takeover bid countering a French company's offer. The Lisbon stock exchange on Monday suspended trading in shares of Portugal Telecom SGPS SA after a 1.2 billion euro bid from Terra Peregrin, a Lisbon- based company wholly owned by Isabel dos Santos, a businesswoman and...

  • LONDON, Oct 30- "Who's got all the copper?" The answer, according to the Wall Street Journal, is Red Kite, the specialist metals hedge fund set up by Michael Farmer, a man who was trading the copper market before many younger readers were born. Today's LME dominant positions report WHL> shows one entity owning 80 to 90 percent of "live" copper tonnage in the LME warehouse...

  • FRANKFURT/ MADRID, Oct 29- E.ON is asking bidders to submit binding offers for its Spanish business by Nov. 3, in a sale likely to fetch as much as 2.2 billion euros to help Germany's top utility cut debt, three people familiar with the matter said. Potential bidders include Australia's Macquarie, private equity firm CVC Capital Partners and Spain's largest utility...

  • *Expectations for a "big bang" style revamp not high in Europe. *Market expects a handful of failures from Europe's stress tests. But expectations for a "big bang"- style restructuring of the banking sector are low, given the political sensitivities at play, and instead the market is factoring in just a handful of failures out of the 130 banks set to be tested, with a few...

  • Oct 6- Billionaire Patrick Drahi's cable and telecoms company Altice SA is looking to acquire the Portuguese assets of Brazilian carrier Oi SA, a source familiar with the matter told Reuters. Portugal Telecom has already transferred its local assets to Oi and retains a minority stake in the enlarged carrier, Bloomberg reported on Monday, citing a source...

  • *Mood swing from austerity seen helping France's case. PARIS, Sept 30- From Athens to Madrid and Dublin to Rome, France can count on a sympathetic hearing in several European capitals in its campaign for leniency over the latest broken promise to bring its public finances into shape.

  • FRANKFURT, Sept 25- It has been billed as a make or break moment for Europe's banks: the publication of rigorous industry-wide health checks next month after three previous tests failed to spot problem lenders.

  • LONDON, Sept 4- European shares rose on Thursday, with a key benchmark briefly hitting a 6-1/ 2 year high, as the European Central Bank further cut interest rates and unveiled plans to buy assets in a bid to shore up inflation in the euro zone.

  • LISBON, Aug 29- On June 9, with his 150- year-old Portuguese corporate dynasty close to collapse, patriarch Ricardo Espirito Santo Salgado made a desperate attempt to save it. The "cartas-conforto"- letters of comfort- were written on the letterhead of Banco Espirito Santo, a large lender controlled by the family.