European shares hit their lowest level since March 31 (2008) as leading U.S. stock market indexes fell in early trading. Royal Bank of Scotland lost 9.7 percent after saying results would be held back by the impact of the global credit crunch despite performing in line with forecasts. Banking shares had been among early gainers after a report in Kommersant business daily said Russian billionaire Suleiman Kerimov was selling Russian assets to buy stakes in European banks and that he already had an over 3 percent stake in Deutsche Bank - a claim Deutsche Bank denied, putting an end to the banking rally. Indices accross Europe lingered in the red - the FTSEurofirst 300 index was down over 1.5 percent and oil hovered just under $136 dollars a barrel as protests against the high prices continue. This has prompted the European Commission to look at changing taxes to boost energy efficiency and help poor people hit by high fuel costs. The Commission says it wants to respond to increasing...
High fuel and food prices sparked a pick-up in German inflation in May, stoking euro zone price pressures and strengthened the case for a rise in interest rates by the European Central Bank. ///...
European shares sank 5.6 percent by midday on Monday, threatening their worst one-day fall since the attacks of September 2001 as investors rattled by the spectre of a U.S. recession dumped stock...
Swiss-based UBS back in the bad books on Tuesday as sub prime problems continue to ripple through its operations. The bank said it was axing 5,500 jobs and selling billions of dollars of assets to...
Fire shuts key US pipeline causing oil prices to surge more than 4 percent higher but falls as fire is extinguished and pipelines reopen. MOREINFO: * Oil falls after fire extinguished at pipeline...
* German banks in merger frenzy * EU issues Bluefin tuna fishing ban The euro fell to its lowest level in over a month against the dollar after Irish voters rejected the European Union's Lisbon...
Europe's biggest bank HSBC reported a 28 percent fall in its first-half profit, in line with forecasts. A $14 billion hit on bad debts on U.S. home loans and asset writedowns offset strong Asian...
The U.S. dollar is again the focus of concern in the markets - it's hit record lows against the euro with growing worries about the state of the U.S. economy. Nonetheless European shares rose in...
Rising oil prices hammered stocks and not even takeover talk could lift the damage... At the close the Dow fell to the lowest level in nearly 3 months down 205 points, the S&P 500 lost 22, and the...
British construction activity fell at its sharpest pace in at least 11 years in June in one of the clearest signs yet of how falling house prices are hitting the wider economy. The news concided...
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