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Europe News Netherlands

  • EU ministers and national experts are due to approve a genetically modified (GMO) sugar beet variety this month despite a long running dispute over the use of biotechnology.

  • The European Central Bank kept its key monetary policy rate flat at 4% on Thursday due to persistent turbulence in the financial markets because of fears of a spillover of the U.S. subprime crisis.

  • Another rise in euro-zone interest rates looked assured last month, but the turmoil in the credit markets has brought pressure on European Central Bank President Jean-Claude Trichet to keep rates at 4%.

  • The Bank of England broke its silence on Wednesday over the current storm engulfing world financial markets and took steps to bring overnight interest rates down.

  • Euro zone growth next year could be weakened by the credit crisis triggered by high-risk U.S. mortgage debt, the chairman of euro zone finance ministers, Jean-Claude Juncker, said on Wednesday.

  • A sharp drop in investment and government spending more than halved quarterly euro zone growth for April to June, but this is unlikely to stop further ECB interest rate rises as analysts expect the economy to pick up.

  • European stocks closed mixed on Monday in thin trading because of a national holiday in the U.S. and on anticipation of a busy week.

  • European stocks closed in the green on Friday after the two top U.S. economic policymakers said it was not up to the government to rescue bad investments but acknowledged they would intervene to prevent a spillover of the U.S. credit market crisis into the broader economy.

  • Euro zone inflation was stable at the European Central Bank's target for the 12th straight month in August but consumer expectations of inflation jumped and economic sentiment weakened more than expected, data showed.

  • European stocks managed to close in the green Thursday after oscillating between the joy of some good corporate results on the continent and worries about credit market woes.

  • The U.S. Justice Department and other authorities have stepped up investigations into several large European banks for violating sanctions against Iran, Libya, Cuba and Sudan, the Financial Times reported in its online edition.

  • European stocks closed mainly in positive territory, helped by a morning rally in the U.S.

  • European stocks closed mixed in the afternoon session Monday, after European Central Bank President Jean-Claude Trichet kept the options open for euro-zone rate moves ahead of an ECB monetary policy meeting next week.

  • European Central Bank President Jean-Claude Trichet said on Monday his remarks on August 2 were made before the current market turbulence, leaving the options open on whether the ECB will raise its key interest rate at a meeting next week.

  • German state-backed bank Landesbank Baden-Wuerttemberg agreed on Sunday to buy subprime victim and fellow lender SachsenLB, as pressure mounts for further mergers among German state banks.

  • European stocks finished the week in the green after stronger-than-expected U.S. durable goods orders and new home sales data on Friday pushed back fears of a spillover of the credit markets crisis to the wider economy.

  • The European Central Bank is not set on raising rates in September, and its recent reference to its Aug. 2 policy statement was intended to keep options open, national central bank officials have told Reuters.

  • France on Friday kept up the pressure on the European Central Bank to take account of global financial market turmoil and economic growth when setting interest rates, and said a September rate rise was not a done deal.

  • Euro zone private sector growth cooled in August as factory order growth hit its weakest since late 2005 and a credit squeeze in financial markets bruised service sector confidence, key data showed on Friday.

  • Industrial supplier Hagemeyer reiterated its full-year goal of improved profitability and a 9% return on invested capital for its PPS division, while announcing an interim dividend of 0.04 euros per share as it posted half-year results that showed increased sales and net profits that were in-line with analysts' expectations.