Europe News Europe

  • BRASÍLIA, Jan 18- Brazil is moving toward a self-monitoring system for food processors, Agriculture Minister Tereza Cristina Dias said on Friday, including meatpackers still recovering from an inspection scandal that hurt trade with key markets. "Why can't Brazil do self-monitoring when Europe and the United States use it?" The scandal briefly threatened...

  • Chief Executive Officer Elon Musk said the need for lower-priced versions of Model 3 will become even greater from July, when the U.S. tax credit again drops in half, adding $1,875 to the car's price tag, and again at the end of the year when it goes away entirely. Legacy luxury brands such as Volkswagen's Audi and Porsche, Daimler's Mercedes-Benz and BMW all plan new...

  • Jan 18- Tiffany& Co tempered its yearly profit forecast on Friday after the luxury jeweler's holiday sales fell unexpectedly as Chinese tourists spent less globally due to a stronger dollar and demand softened in Europe and at home. Like other luxury goods firms, Tiffany relies on spending by China's burgeoning middle class as consumer demand remains subdued...

  • WASHINGTON, Jan 18- U.S. consumer sentiment tumbled in early January to its lowest level since President Donald Trump was elected more than two years ago amid fears an ongoing partial shutdown of the federal government and financial market volatility would slow the economy. The drop in confidence reported by the University of Michigan on Friday is the...

  • *To boost confidence in oil cut, OPEC issues quota list. *China offers to ramp up U.S. imports- Bloomberg. NEW YORK, Jan 18- Oil prices rallied about 3 percent on Friday, boosted after OPEC detailed specifics on its production-cut activity to reduce world supply, and on signals of progress in resolving the U.S.- China trade war.

  • *Rome weighs merging troubled banks with healthy rivals. *Rome reluctant to put public money into banks. Their problems threaten to reignite a banking crisis that Rome thought it had ended two years ago and could further damage an economy already at risk of slipping back into recession.

  • *Industrials lead sector gains on Wall Street. NEW YORK, Jan 18- Major stock indexes rose worldwide on Friday and the dollar was on track for its first positive week this year, boosted by optimism that the trade conflict between the United States and China may come to an end. Wall Street was set for a fourth week of gains, with foreign trade-sensitive industrials up...

  • LONDON, Jan 18- The pound weakened on Friday as investors took profits after a stellar rally that set the currency up for its biggest weekly gain against the euro in more than a year on growing confidence that a no-deal Brexit can be avoided. "The market is pricing out the risk of hard Brexit and some kind of agreement... so against this background, you'd expect sterling...

  • NEW YORK, Jan 18- The dollar held firm against its rivals on Friday and was poised for its first weekly gain in five weeks, boosted by optimism about trade talks between China and the United States. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs on Chinese goods and suggested offering a tariff rollback during trade discussions...

  • JOHANNESBURG, Jan 18- Former Mozambican finance minister Manuel Chang, arrested in South Africa in a case related to $2 billion of fraudulent loans, has abandoned plans to apply for bail, one of his lawyers said on Friday. Chang, who denies wrongdoing, has been detained in South Africa since Dec. 29 at the request of the United States which wants him extradited.

  • *OPEC report indicates headstart on pact cutting supply. *Washington considers rolling back China import tariffs- WSJ. LONDON, Jan 18- Oil prices rose on Friday after an OPEC report showed its production fell sharply last month, easing some concerns about prolonged oversupply.

  • BRASÍLIA, Jan 18- Brazil is moving toward a self-monitoring system for the food industry, Agriculture Minister Tereza Cristina Dias said on Friday, including meatpackers still recovering from an inspection scandal that hurt trade with key markets. "Why can't Brazil do self-monitoring in Brazil when Europe and the United States use it?" The scandal briefly...

  • Another week closer to the date Britain leaves the European Union. Given how crushingly Prime Minister Theresa May's Brexit divorce deal was defeated by lawmakers, there is little chance her Plan B-- to be presented in coming days-- will get away with just minor amendments. If May fails to forge consensus within her party and with opposition leader Jeremy Corbyn...

  • Britain's Union Jack national flag is pictured during a debate on Britains withdrawal from the EU during a plenary session at the European Parliament on January 16, 2018 in Strasbourg.

    Extending the official Brexit deadline for the U.K. could bring a wave of extra logistical and political problems for the European Union.

  • *Leu retests record low at 4.7 vs euro set in June 2018. BUDAPEST/ WARSAW, Jan 18- The Hungarian forint hit a seven-month high against the euro on Friday and gained against the Polish zloty after data pointed to slower growth in Poland. The forint has rallied since Wednesday when Hungarian central bank Deputy Governor Marton Nagy said monetary tightening could...

  • *Russia's c.bank bought 8.8 mln oz of gold in 2018. MOSCOW, Jan 18- Russia has overtaken China to become the world's fifth largest official sector holder of gold as Western sanctions drove buying by its central bank to record highs in 2018, its data showed on Friday. In 2018, Russia's buying jumped further as holdings of U.S.

  • Jan 18- Tiffany& Co tempered its yearly profit forecast on Friday after its holiday sales fell unexpectedly as Chinese tourists spent less globally and the U.S. luxury jeweler faced softer demand in Europe and at home. Like other firms which sell luxury products, Tiffany relies on demand from China's burgeoning middle class as consumer demand for its rings,...

  • Jan 18- Tesla Inc said on Friday it would cut thousands of jobs to rein in costs as it plans to increase production of lower priced versions of its crucial Model 3 sedan, sending its shares down 7 percent. The company, which has struggled to achieve long-term profitability and keep a tight lid on expenses, also said it expects fourth-quarter profit to be lower than...

  • She said the self-monitoring is widely used in developed countries like the United States and Europe. "Why can't Brazil do self-monitoring in Brazil when Europe and the United States use it?" The probe, which kicked off in March 2017 and expanded a year later, has examined the relationship between food processors, Agriculture Ministry officials and...

  • MOSCOW, Jan 18- Rosneft's Angarsk oil refinery said on Friday afternoon that a fire that broke out at the refinery earlier in the day had been put out. A spokesman for the refinery, which is situated near Lake Baikal in southern Siberia, did not provide further details. Sources had told Reuters earlier on Friday that the fire had broken out at a primary oil processing...