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Last updated : 2010.03.13, 06h48 (GMT+8) - [Read last refreshed Newsfeed]

What's News Europe

British Airways Crew to Strike

The union representing British Airways cabin crew announced that strikes will take place later this month after the U.K. airline and union leaders failed to reach a last-minute deal on changes to working practices.

UBS Lobbies for Swiss-U.S. Deal

UBS has stepped up its lobbying efforts for a U.S.-Swiss tax deal over confidential bank data, urging parliamentary representatives to vote for the passage of the deal.

Pope to Meet on German Abuse Cases

Pope Benedict XVI will meet with a German archbishop who is expected to update him about cases of alleged sexual abuse by priests that have unsettled the pontiff's native land.

Data Theft Hits HSBC Clients

HSBC said a former employee stole data on about 24,000 accounts in its Swiss private bank that wound up in the hands of French authorities.

U.K.'s Liberty in Takeover Talks

U.K. luxury brand Liberty confirmed that it has received takeover approaches, eight months after it appointed advisors to conduct a strategic review of the business.

BP Seals $7 Billion Offshore Brazil Deal

The British oil giant agreed to acquire a big swath of oil assets from Devon Energy for $7 billion, in a deal that will vault BP into the hot new oil region off the shores of Brazil.

Farallon Regroups After Fall

Farallon Capital is shrinking and reorganizing as the giant hedge-fund firm emerges from the rockiest period in its 24-year history.

Avastin Fails Prostate-Cancer Trial

Roche said its Avastin product didn't live up to expectations in a late-stage prostate cancer study, dealing a blow to the drug's prospects of becoming a universal cancer treatment.

India's ONGC in Talks With Russia

India's state-run Oil & Natural Gas Corp. is in talks with Russian oil majors OAO Gazprom, OAO Rosneft and Sistema to explore oil and gas opportunities in Russia.

Audi Case Set Template for Toyota's Troubles

The Audi sudden-acceleration scare of the 1980s helped set the template for the high-stakes auto-safety scandal Toyota faces today.

Pink Floyd Wins Downloads Suit

Britain's High Court has ordered record company EMI to stop selling downloads of Pink Floyd tracks individually rather than as part of the band's original albums.

Greece Grinds to a Halt Amid Strike

Violence broke out between police and protesters in Athens as 30,000 people gathered to demonstrate against the government's austerity program as part of a nationwide general strike.

Spain Moves to Tame Savings Banks

As a deepening credit crunch threatens to prolong Spain's recession, the government and central bank are coming under increasing pressure to clean up the country's ailing savings banks.

BA Worker Charged in Bomb Plot

A British Airways computer expert was charged with plotting suicide bombings—including one he allegedly planned to carry out himself.

French Vote Resonates

With opinion polls predicting poor results for his ruling conservative party, the two-round regional ballots that start Sunday could turn effectively into a no-confidence vote against French President Sarkozy.

Geithner Warns Europe on Fund Legislation

Geithner has warned the European Commission that its proposals for more restrictive regulation of alternative fund managers could affect cross-border investment, demonstrating how the controversial European Union directive could have transatlantic ramifications.

High Interest Costs Burden Greece

The high interest rates Greece must pay to borrow money are threatening the country's aggressive projections of a reduced budget deficit, and raising again the specter that it may need external aid.

BMW's 2009 Profit Slides 36%

BMW reported a 36% slump in 2009 net profit in a year that saw a steep downturn for luxury car makers, but said it is cautiously optimistic for 2010.

Broadcaster RTL Cautious on 2010

RTL, Europe's largest broadcaster, said business has started to pick up following last year's advertising slump, but it cautioned that it expects no quick recovery—echoing recent comments from other large media companies.

Trichet Comments Leave Door Open to EMF

The jury is still out on what will be the ECB's position on the proposed monetary fund for the currency union—but it's not an outright "no," comments by ECB President Trichet showed.

Brown Sticks to Budget Plans

The U.K. prime minister reiterated that he won't be using the upcoming budget to accelerate his government's debt-reduction plan, a controversial topic that has split economists and other experts.

Wall Street Moves to Shape CDS Rules

Some on Wall Street acknowledged that changes to CDS are inevitable, with some suggesting remedies that might increase transparency while forestalling greater government intervention.

Turkey Ends IMF Loan Talks

Turkey won't conduct further talks with the IMF on a potential new standby loan until at least May, ending more than a year of on-and-off talks on a loan facility favored by economists but resisted by the government.

Ex-Cazenove Partner Found Guilty

Malcolm Calvert, a City veteran and former partner at U.K. stockbroker Cazenove known by his peers as 'Streaky,' was found guilty of five counts of insider trading.

Ukraine Names New Premier

Ukraine's president, moving swiftly to end years of political paralysis, secured a majority coalition in parliament and won its approval for a close ally to serve as prime minister.

Lufthansa: 2010 Profit to Rise

The German flagship airline expects operating profit and revenue to rise in 2010, but said risks remain that could jeopardize an improvement of its business performance.

Rev Up for New Racing Season

Formula One has opened its doors to a handful of new teams and as a result will have its biggest grid in 15 years: 12 different liveries will be on display Sunday sparking a fierce struggle for survival at the back of the grid.

McQueen's Angels and Demons

At the time of his suicide last month, Lee Alexander McQueen was working on clothing covered with ornate images of death and afterlife.

From EMU to EMF: Will it Fly?

Bill Jamieson: When historians turn to the Great Greek Crisis of 2010, they will struggle to explain not just how it erupted, but why it posed such searching questions of the European monetary union.

EU Advances Draft Rules for Hedge Funds

Brussels Beat: European officials rebuffed criticism from U.S. Treasury Secretary Timothy Geithner that suggested a draft law aimed at regulating hedge funds would discriminate against U.S. fund managers and banks.

Looking 'Abroad' for Spending Help

Statistics demonstrated that Europe's economies haven't lost their hunger for consumption, while the wider world is failing to spend its cash on buying the cars and camemberts that euroland produces.

Maintain Defense of the Falklands

There is no misunderstanding and no need for mediation. The Falkland Islands are British and should remain so as long as their inhabitants wish.