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  • FRANKFURT, Sept 4- A day after Mario Draghi presented a sobering economic outlook for the euro zone, the nervousness coursing through his European Central Bank was underscored by a fellow policy maker. "There is serious uncertainty at the moment because you don't know exactly whether this is a pothole on the road or a landslide," said Ewald Nowotny, the head of...

  • "We are positive that we will comfortably achieve our adjusted EBIT target of more than 1.5 billion euros this year," Carsten Spohr said in an interview at the group's main base in Frankfurt. Lufthansa is changing Germanwings, bringing it under the banner of its new budget unit, Eurowings, where it hopes to lower costs further in order to better compete with the...

  • BERLIN— Germany's BASF SE is reviving a planned asset swap with Russian gas company Gazprom that was called off last December. BASF said Friday that the two companies have agreed to complete the asset swap by the end of this year. The swap will see BASF subsidiary Wintershall transfer its share in a jointly operated natural gas trading and storage business to...

  • The industry has seen sluggish sales in recent years as consumers opt to spend their money on smartphones and tablets instead, so many companies are pinning their hopes for a revival in the PC market on the latest version of Microsoft's operating system. Among them is Toshiba, which launched its new Satellite Radius 12 this week, priced at 1,449 euros in Europe.

  • German factory orders drop in July Friday, 4 Sep 2015 | 3:45 AM ET

    BERLIN— German factory orders dropped a larger than expected 1.4 percent in July compared to the previous month, dragged down by flagging foreign demand. The Federal Statistical Office reported Friday that it revised June's 2 percent increase downward to a rise of 1.8 percent, adjusted for seasonal and calendar factors. UniCredit economist Andreas Rees says...

  • DIARY- Top Economic Events to Sept 16 Thursday, 3 Sep 2015 | 8:01 PM ET

    MISSOULA, United States- Federal Reserve Bank of Minneapolis President Narayana Kocherlakota speaks before a Town Hall open forum- 0100 GMT. LONDON- Swedish Riksbank Deputy Governor Cecilia Skingsley speaks at Deutsche Bank's headquarter in London on the Swedish central bank's latest report- 0930 GMT. ANKARA- German Finance Minister Wolfgang Schaeuble and...

  • CHICAGO, Sept 3- U.S. wheat futures sank to multi-year lows on Thursday, weighed down by ample supplies and weak demand for U.S. exports, traders said. The Chicago Board of Trade reported heavy deliveries against expiring wheat and corn contracts on Wednesday evening, reflecting the easy availability of supplies on the cash market. Egypt's government buyer...

  • Central banks falling short of 2 pct. inflation target Thursday, 3 Sep 2015 | 2:33 PM ET

    The Federal Reserve and European Central Bank have been striving to generate a small dose of inflation— around 2 percent annually, just enough to spur more spending and income but not so much that prices surge out of control. ECB President Mario Draghi faced that very question at a news conference Thursday in Frankfurt, Germany. In the United States, the Fed's...

  • Europe's migrant and refugee crisis in photos Thursday, 3 Sep 2015 | 2:18 PM ET
    Migrants, including thee men from Benin, who had arrived by train to Germany sit on cots while waiting to register at a center for migrants at a facility of the German Federal Police (Bundespolizei) on August 31, 2015 in Rosenheim, Germany.

    People displaced by wars in Syria, Iraq, and Afghanistan are fleeing to Europe, where leaders are divided over how to handle the influx.

  • NEW YORK— Samsung and other tech companies showcased new computerized wristwatches this week— all aimed at challenging Apple, a relative newcomer to selling smartwatches. Apple Watch was the leading smartwatch in the second quarter, with an estimated 4 million shipped worldwide, for a market share of more than 75 percent, according to Strategy Analytics.

  • Berlin gadget show: Tiny PCs and high-end handsets Thursday, 3 Sep 2015 | 12:28 PM ET

    BERLIN— Gadget makers have been showcasing their latest gear at Europe's flagship technology show, the IFA in Berlin, this week. Aside from Wi-Fi, Bluetooth 4, 2 GB of RAM and 32 GB of storage, it sports the latest Intel Cherry Trail chip, two USB ports and an audio jack. Huawei launched its Mate S, billed as the Chinese smartphone maker's first top-range handset with...

  • *Sees further threats from China, emerging markets. FRANKFURT, Sept 3- The European Central Bank cut its growth and inflation forecasts on Thursday, warning of possible further trouble from China and paving the way for an expansion of its already massive 1 trillion-euro plus asset-buying programme. The ECB, which left interest rates unchanged in a widely...

  • BERLIN— Volkswagen says its chief financial officer, Hans Dieter Poetsch, is set to become its new chairman— filling the position that longtime company patriarch Ferdinand Piech vacated in April. Berthold Huber, the acting chairman and previously Piech's deputy, praised Poetsch's "strategic vision, comprehensive knowledge of the automotive industry and...

  • PARIS— French investigators have formally identified a washed-up piece of airplane debris found in July on a remote island in the Indian Ocean as part of Malaysia Airlines Flight 370, a Boeing 777 that disappeared more than a year ago with 239 people aboard. Malaysian authorities had already declared that the wing fragment was from the jet that went missing en...

  • UPDATE 2-VW's finance chief set to become new chairman Thursday, 3 Sep 2015 | 11:09 AM ET

    BERLIN, Sept 3- Volkswagen's finance chief Hans Dieter Poetsch is set to become its next chairman, putting Europe's biggest carmaker on course for calmer waters after rival factions including ousted patriarch Ferdinand Piech united to back him. The company has been looking for a permanent successor to Piech, who was turfed out in April after clashing with...

  • BERLIN, Sept 3- German business groups have hit out at Berlin's plan to reform how it taxes investment funds, warning on Thursday that the proposed changes would hurt pension provisions and reduce the attractiveness of Europe's largest economy as a place to invest. "The finance ministry's draft for the investment tax act would lead to an additional tax burden,...

  • NEW YORK— A painting of a female nude by Amedeo Modigliani that caused a scandal nearly a century ago is going on the auction block for the first time ever. It was among a series of female nudes created for his friend and dealer Leopold Zborowski. It's been exhibited at major museums around the world including New York's Museum of Modern Art.

  • *Sees further downside risks from China, emerging markets. The ECB, which left interest rates unchanged in a widely predicted decision, said the chances of missing its medium-term inflation target had increased due to lower oil prices, weaker growth in China and other emerging markets and an appreciating euro. Mario Draghi, the ECB president, said the bank's 1...

  • FRANKFURT, Germany— The European Central Bank is ready to give the eurozone economy a bigger dose of stimulus if turmoil in China and weaker global growth hurt its modest recovery, President Mario Draghi said Thursday. Draghi said the ECB can add to its 1.1 trillion euro program, if the 19- country currency bloc needs it. Tom Rogers, senior economic adviser to the EY...

  • *Ukraine simmers after moves to give more autonomy to rebels. *Chances of fulfilling end-of-year aims of Minsk deal seem dim. *Poroshenko sees hope in West keeping sanctions on Russia.