World Economy International Organizations

  • FRANKFURT, Sept 8- Volkswagen has rejected suggestions it may have breached European Union consumer rules in connection with its emissions cheating scandal, and said it does not see the need to compensate affected car owners. EU Consumer Commissioner Vera Jourova said on Monday the European Commission was assessing whether Volkswagen had violated two EU...

  • *Web services like Skype will have to offer emergency calls. BRUSSELS, Sept 8- The European Union is set to extend some security rules currently only applicable to telecom operators to web services such as WhatsApp, Skype and Apple Inc's FaceTime, according to a draft proposal seen by Reuters. The European Commission, the EU executive, will unveil a proposed reform...

  • LONDON, Sept 8- Britain's finance minister Philip Hammond warned other European Union countries they would be making a "huge mistake" if they tried to break up London's dominance as a global financial centre after the country leaves the bloc. In a sign of tense negotiations that lie ahead as Britain tries to negotiate its exit from the EU while keeping as much...

  • LONDON, Sept 8- Britain's finance minister Philip Hammond warned other European Union countries that attempts to break up London's role as a global financial centre in the wake of the country's Brexit vote would be a "huge mistake" for the EU. Hammond said London had a "very complex ecosystem" of banks and financial services firms and "to break it up or try to damage it...

  • LUXEMBOURG, Sept 8- Danish drugmaker Lundbeck lost an appeal against a European Union antitrust fine on Thursday when a court ruled its payments to rivals to delay sales of generic copies of a blockbuster anti-depressant were anti-competitive. Lundbeck shares fell as much as 3 percent to 263 Danish crowns after the verdict by the Luxembourg- based General...

  • LUXEMBOURG, Sept 8- Danish drugmaker Lundbeck lost an appeal against a European Union antitrust fine on Thursday when a court ruled its payments to rivals to delay sales of generic copies of a blockbuster anti-depressant were anti-competitive. Lundbeck shares fell as much as 3 percent to 263 Danish crowns after the verdict by the Luxembourg- based General...

  • LUXEMBOURG, Sept 8- Danish drugmaker Lundbeck lost an appeal against a European Union antitrust fine on Thursday when a court ruled its payments to rivals to delay sales of generic copies of a blockbuster anti-depressant were anti-competitive. Lundbeck shares fell as much as 3 percent to 263 Danish crowns after the verdict by the Luxembourg- based General...

  • DAR ES SALAAM, Sept 8- The East African Community trade bloc will delay signing a trade agreement with the European Union, originally set for Oct.1, Tanzanian President John Magufuli said on Thursday. Kenya and Rwanda signed the agreement earlier this month, but it needs approval from all members of the East African Community bloc to take effect.

  • ALGIERS, Sept 8- Algeria's energy minister will meet his Saudi counterpart and OPEC's secretary-general in Paris on Friday as part of moves towards clinching a global deal on stabilizing crude output to support oil prices, an Algerian official and OPEC sources said. Algeria will host the informal meeting with Saudi Energy Minister Khalid al-Falih and OPEC's...

  • DAR ES SALAAM, Sept 8- The East African Community trade bloc will delay signing a trade agreement with the European Union, originally set for Oct.1, Tanzanian President John Magufuli said on Thursday. "We have given ourselves three months to discuss further the signing of the EPA agreement and we will meet in January 2017 over this issue," Magufuli, who is also the...

  • LUXEMBOURG, Sept 8- Danish drugmaker Lundbeck's deals with smaller rivals to delay cheaper generic copies of its blockbuster citalopram anti-depressant from entering the market were anti-competitive, a European Union court said on Thursday. The ruling followed an appeal by Lundbeck and five other generic drugmakers against a 2013 decision by the...

  • EAST AFRICAN COMMUNITY TRADE BLOC SAYS WILL DELAY SIGNING DEAL WITH EUROPEAN UNION- TANZANIA PRESIDENT JOHN MAGUFULI.

  • LONDON, Sept 8- Britain and the European Union must work together to make their divorce smooth and forge a new "strong relationship," Prime Minister Theresa May told European Council President Donald Tusk on Thursday. At their first one-to-one meeting since May became prime minister after Britain voted to leave the European Union at a June 23 referendum, Tusk...

  • The latest shenanigans over whether the Organization of the Petroleum Exporting Countries and other major suppliers such as Russia will limit their output has generated heaps of noise, but very little of substance. They are Saudi Arabia, Russia, Iran and Iraq. Taking top exporter Saudi Arabia first, the most recent relevant comment came from Energy Minister...

  • The latest shenanigans over whether the Organization of the Petroleum Exporting Countries and other major suppliers such as Russia will limit their output has generated heaps of noise, but very little of substance. They are Saudi Arabia, Russia, Iran and Iraq. Taking top exporter Saudi Arabia first, the most recent relevant comment came from Energy Minister...

  • LONDON, Sept 8- The oil options market indicates traders are not betting big on OPEC and rival Russia clinching a meaningful deal this month to control output, although investors have turned more optimistic. The oil price is heading for its first weekly rise in nearly a month after Saudi Arabia and Russia said on Monday they would work closely to monitor...

  • LONDON, Sept 8- Britain voted to leave the European Union on June 23 and is expected to trigger Article 50, the formal process of leaving the bloc, next year. Eastern European-focused budget airline Wizz Air said it would switch some of its planned expansion away from Britain because of the weakness in the pound following the vote to leave the European Union.

  • LONDON, Sept 8- Britain should start talks to leave the European Union as soon as possible, European Council President Donald Tusk said on Thursday, adding weight to calls for Prime Minister Theresa May to start the formal divorce procedure. In London, Tusk met May for their first head-to-head meeting since Britain voted to leave the bloc in a referendum on June 23...

  • The latest shenanigans over whether the Organization of the Petroleum Exporting Countries and other major suppliers such as Russia will limit their output has generated heaps of noise, but very little of substance. They are Saudi Arabia, Russia, Iran and Iraq. Taking top exporter Saudi Arabia first, the most recent relevant comment came from Energy Minister...

  • The latest shenanigans over whether the Organization of the Petroleum Exporting Countries and other major suppliers such as Russia will limit their output has generated heaps of noise, but very little of substance. They are Saudi Arabia, Russia, Iran and Iraq. Taking top exporter Saudi Arabia first, the most recent relevant comment came from Energy Minister...