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  • BRUSSELS— The European Union's environment body says the 28 member states need to do more to meet long-term environmental goals, including targets for greenhouse gas emissions. The European Environment Agency said in its five-yearly report released Tuesday that the EU's level of ambition "may be inadequate to achieve Europe's long-term environmental...

  • Swiss economy stronger than expected in 4th quarter Tuesday, 3 Mar 2015 | 4:21 AM ET

    BERLIN— Official data show that Switzerland's economy expanded by a stronger-than-expected 0.6 percent in the fourth quarter, the last before the country's central bank abandoned its effort to cap the Swiss franc's value against the euro. Switzerland's economy grew 2 percent in 2014 as a whole. UniCredit economist Martina von Terzi forecast a 0.7 percent...

  • GENEVA, March 2- Aston Martin on Tuesday announced plans for a luxury crossover SUV that may draw more heavily on its partnership with Daimler, as the British sports car maker confirmed moves to raise more capital and expand into new vehicle categories. Aston has secured about 150 million pounds in additional funding, Chief Executive Andy Palmer said in an...

  • BERLIN— Glencore PLC says its net earnings declined 7 percent last year as the commodities and mining group took charges of $1.1 billion stemming in part from lower commodity prices. Swiss-based Glencore said Tuesday that net profit last year was $2.31 billion, compared with $2.47 billion in 2013. Revenues slipped to $221.1 billion from $232.7 billion.

  • FRANKFURT, March 3- U.S. economist Stephen Ross was named winner of the Deutsche Bank Prize in Financial Economics on Tuesday for helping to create models that have helped markets assess prices for options and other assets for the past three decades. "Ross's models have changed and advanced economic practice profoundly," said the Frankfurt- based Center for...

  • GENEVA, March 3- Europe's carmakers are benefiting from robust demand for passenger cars in most of Europe although the slumping Russian market continues to cast a shadow, making forecasts increasingly difficult, the Chief Executives of Opel and Volkswagen said. The Russian market, once the third largest for General Motors in Europe, is massively down and GM...

  • DIARY-Top Economic Events to March 15 Monday, 2 Mar 2015 | 7:01 PM ET

    LONDON- Bank of England's Paul Fisher speaks at the Economist's Insurance Summit 2015- 0910 GMT. LONDON- Bank of England's Anthony Habgood and Governor Mark Carney appears before Treasury Select Committee- Grabiner Report- 1000 GMT. LAKE FOREST, United States- Federal Reserve Bank of Chicago President Charles Evans speaks on current economic conditions and...

  • Volkswagen CEO stands by cautious outlook Monday, 2 Mar 2015 | 4:50 PM ET

    GENEVA— The CEO of Volkswagen AG is staying with his cautious outlook for this year, saying it's a "balanced statement" based on growth in the U.S., Europe and China versus trouble spots such as Russia and Brazil. "We very much see the global trouble spots- Russia, Ukraine, and also the weak markets in Brazil- but we also see that markets in Europe are growing again, that...

  • GENEVA, March 2- Toyota Motor Corp expects to grow sales in western and central Europe by up to 2.5 percent this year but remains cautious on the part of the region which includes crisis-hit Russia, the head of its European operations said on Monday. Didier Leroy said in eastern Europe, which for Toyota includes Russia, Ukraine, Kazakhstan and the Caucasus, the...

  • LONDON, March 1- The latest episode of Greece's debt crisis has revived doubts about the long-term survival of the euro, nowhere more so than in London, Europe's main financial centre and a hotbed of Euroscepticism. To sceptics, the election of a radical leftist-led government in Athens committed to tearing up Greece's bailout looks like the start of an...

  • BOSTON— The company that operates the state's commuter rail system has been fined more than $434,000 after nearly two-thirds of the trains were late or canceled during the heavy snowfalls that pounded the region last month, transit officials said Monday. Keolis Commuter Services had an on-time performance rate of roughly 35 percent, the Massachusetts Bay...

  • *Greece says can overcome immediate funding crunch. MADRID/ ATHENS, March 2- Euro zone countries are discussing a third bailout for Greece worth 30 billion to 50 billion euros, Spain's economy minister said on Monday, but EU officials said there were no such talks. Speaking at an event in Pamplona, northern Spain, Economy Minister Luis de Guindos said the new rescue...

  • LONDON, March 2- Copper rose to its highest level in seven weeks on Monday after China unexpectedly cut interest rates before retreating on worries about slowing Chinese growth. The rate cut is showing the readiness of the Chinese government to fight against the slowdown, "said Eugen Weinberg, head of commodity research at Commerzbank in Frankfurt.

  • *Tullow down on project delay and FTSE demotion worries. The Greek banking index fell nearly 10 percent, while lenders National Bank of Greece, Piraeus Bank and Alpha Bank fell 10.0 to 11.8 percent to feature among the top decliners. "The fears about a possible default for Greece are certainly not completely off the table," Gerhard Schwarz, head of equity strategy at...

  • PARIS— France is ordering manufacturers to inform consumers how long they can expect their TV, cell phone or other appliance to last— before they buy it. A new French government decree that came into effect this week aims at fighting so-called planned obsolescence. Violators face up to 15,000 euros in fines.

  • MADRID— Spain created hours of confusion over the future of Greece's troubled finances Monday by announcing that eurozone nations were negotiating a third Greek bailout of up to 50 billion euros, then backtracking by saying the prospect of such a bailout is merely hypothetical. The high profile sequence of events began when Spain's Economy Ministry said...

  • *Iran Foreign Minister: nuclear deal possible this week. *'Long way to go' to reach Iran nuclear deal- Kerry. LONDON, March 2- Brent crude oil fell more than 2 percent to around $61 a barrel on Monday after Iran said a deal on its nuclear program could be agreed this week if the West lifts sanctions, which could boost the country's oil exports.

  • LONDON, March 2- European shares retreated from multi-year highs on Monday, with Greek banks slipping on lingering concerns about the country's debt and Tullow Oil falling on worries about project delays and its likely ejection from a major share index. The Greek banking index fell 9.4 percent, while lenders National Bank of Greece, Piraeus Bank and Alpha Bank...

  • Volkswagen Passat wins car of the year award Monday, 2 Mar 2015 | 9:49 AM ET

    GENEVA— The large family car Volkswagen Passat has been voted car of the year by European automotive editors at the Geneva International Motor Show. German Volkswagen's four-door sedan beat six other finalists including Citroen's C4 Cactus, Renault's Twingo and the BMW 2- Series Active Tourer. The Passat succeeds Peugeot's compact 308, which won last year.

  • BRUSSELS— The European Union is giving member states the power to ban the cultivation of genetically-modified crops even if they have been approved by the bloc's food safety authority. Mute Schimpf of Friends of the Earth Europe says the new law "is a massive opportunity for national governments to shut the door on biotech crops in Europe."