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  • *Founder Del Vecchio takes helm as executive chairman. But Leonardo Del Vecchio's return to the helm of Italy's Luxottica, owner of Ray Ban and Oakley sunglasses, at the age of 80 and insistence none of his six children should carry the burden of such a big firm beg the question of who might fit the bill. Positions are not being filled, two of the sources said,...

  • Weak dollar pummels European markets Thursday, 4 Feb 2016 | 11:30 AM ET
    Weak dollar pummels European markets

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including how the weak U.S. dollar has hurt European mining and materials stocks.

  • *France, Italy, Spain, Portugal at odds with EU commitments. BRUSSELS, Feb 4- Almost half of euro zone countries are facing a clash over EU deficit reduction rules unless they change policies, European Commission forecasts showed, posing a challenge to EU laws that set limits on spending to protect the value of the euro. Governments also argue that they need to spend...

  • The craftsmen of Murano, an island near Venice, didn't have such technology, yet they still turned out museum-worthy pieces known for their artistry and beauty, using techniques that remained exclusive for centuries. Through years of researching Venetian glass collections at American and European museums and comparing the artifacts with more...

  • *Pan-European index down almost 10 pct this year. MILAN/ LONDON, Feb 3- European shares fell sharply on Wednesday as disappointing economic data from the United States further undermined sentiment already hurt by weak earnings updates. "Sentiment has weakened materially and is being undermined by mounting worries over global economic growth spanning from...

  • European markets close after weak data Wednesday, 3 Feb 2016 | 11:30 AM ET
    European markets close after weak data

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including falling retail sales in the euro zone.

  • LONDON/ MILAN, Feb 3- European shares fell on Wednesday as weak earnings from some leading companies weighed on markets, although Syngenta surged after ChemChina agreed a bid for the Swiss seeds and pesticides group. Markets extended losses after a report in the United States said the service sector in the world's largest economy slowed more than expected in...

  • BRUSSELS, Feb 3- European lawmakers on Wednesday backed a compromise deal to reduce car emissions that will still allow vehicles to exceed official pollution limits, defying calls for more radical reform following Volkswagen's emissions-test cheating scandal. The European Commission, the EU executive, had already begun trying to close a known gap between...

  • DIARY-Top Economic Events to Feb 16 Tuesday, 2 Feb 2016 | 7:01 PM ET

    WEDNESDAY, FEBRUARY 3 LONDON- Treasury Select Committee Hearing- The Economic and financial costs and benefits of UK's EU membership with Bank of England's Chief Executive Officer of the Prudential Regulation Authority Andrew Bailey- 1415 GMT. ROME- UK Finance Minister George Osborne and Italian Economy Minister Pier Carlo Padoan take part in a debate...

  • SAN FRANCISCO— Yahoo is laying off about 1,700 employees and shedding some of its excess baggage in a shake-up likely to determine whether CEO Marissa Mayer can save her own job. The long-anticipated purge, announced Tuesday, will jettison about 15 percent of Yahoo's workforce along with an assortment of services that Mayer decided aren't worth the time and...

  • MILAN, Feb 2- Italian oil services group Saipem said on Tuesday it would appeal an Algerian court ruling ordering one of its units to pay a 34,000 euro fine for allegedly inflating prices on contracts to build a gas pipeline. The company, which is jointly controlled by oil major Eni and state lender fund FSI, is also in the midst of a highly-dilutive 3.5 billion euro...

  • DUBAI, Feb 2- Iran has no problem with U.S. companies investing in its economy and creating joint ventures, President Hassan Rouhani said on Tuesday, and he called for foreign investment and diversification away from oil. The president said the lifting of sanctions last month under a nuclear deal with world powers would see foreign investment turn Iran into an...

  • *Shares in New York, Milan fall to record lows. Ferrari's New York- listed shares fell more than 14 percent to their lowest since the maker of red cars with the prancing horse logo was listed on Wall Street last October. On a conference call with analysts, the company said it expects this year's growth to come primarily from the United States and Europe, its two main...

  • European stocks extend losses at close Tuesday, 2 Feb 2016 | 11:30 AM ET
    European stocks extend losses at close

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including markets falling across the board.

  • ROME, Feb 2- Italy's Meridiana Fly held talks with the country's development minister on Tuesday about the ailing airline's future, its CEO said after the meeting, but did not comment on speculation Qatar Airways could come to the rescue. I can't say more at this stage, "Meridiana Chief Executive Marco Rigotti said when asked about potential talks with Qatar...

  • DETROIT, Feb 2- Fiat Chrysler Automobiles and Nissan Motor Co reported higher U.S. sales for January, indicating a stronger-than-expected start of the year for the auto industry than many observers expected. Fiat Chrysler shares traded in Milan rose from the minutes after its U.S. sales were announced. They were up 1 percent at 6.45 euros on Tuesday afternoon in...

  • ROME— Smokers in Italy are now facing fines of up to 500 euros if they light up in a car with a child or pregnant woman— or if they toss a cigarette butt on the street— after new health and environmental laws went into effect Tuesday. Piergiorgio Benvenuti, president of EcoItalia Solidale, said about 11 million cigarettes are smoked every day in Rome, half of them...

  • ROME, Feb 2- Top executives of Italy's Meridiana Fly are meeting with the development minister in Rome on Tuesday to discuss the future of the ailing regional airline, amid speculation Qatar Airways could come to the rescue. "Talks are going on with Qatar Airways to let the carrier enter into capital," one source close to the matter said. Qatar Airways declined to...

  • European shares led lower by BP and UBS Tuesday, 2 Feb 2016 | 6:17 AM ET

    *FTSEurofirst 300 index falls 1.7 percent. LONDON, Feb 2- European equities fell sharply on Tuesday as crude oil prices slipped again on oversupply concerns and companies such as oil major BP disappointed on the earnings front. BP's dividend is a mile away from being covered by earnings and the market is saying that this is unsustainable, "said Steve Clayton, head...

  • ROME, Feb 2- British Foreign Secretary Philip Hammond said he was encouraged by the progress of negotiations with the European Union but cautioned that the proposals will probably need further work to be crafted into a deal at an EU summit later this month. Speaking just hours before the head of the European Council was to present "new settlement" proposals aimed...