Billionaire Patrick Drahi is aiming to buy Vivendi's 20 percent stake in Numericable-SFR (NUME.PA) to strengthen his grip on France's No.2 telecoms group and prepare for a possible next round of industry consolidation.
Tags: Europe
Mercedes recalls 147,000 cars in U.S. for engine fire risk
Daimler AG's (DAIGn.DE) Mercedes-Benz is recalling more than 147,000 mid-size sedans and station wagons from 2013-2015 to check for risk of engine fires, the U.S. safety regulator said Saturday.
Germany to approve Greek deal if promises met: Merkel ally
The German parliament could approve a four-month extension to euro zone funding for Greece, on condition Athens presents a list of reforms as promised, a senior ally of German Chancellor Angela Merkel was quoted as saying.
Under external fire, European private equity opts to specialize
Outgunned by Chinese and Middle Eastern competitors and lacking the breadth of service of their U.S. rivals, European private equity firms are focusing on specific industries to compete on their home turf.
Greece, euro zone agree four-month loan extension, avert crunch
Euro zone finance ministers agreed in principle on Friday to extend Greece's financial rescue by four months, averting a potential cash crunch in March that could have forced the country out of the currency area.
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United States Treasury Secretary Jack Lew called Greek Prime Minister Alexis Tsipras on Friday to express support for a favourable outcome in Greece's negotiations with its euro zone partners, Tsipras' office said in a statement on Friday.
A surprisingly aggressive dose of monetary stimulus from Sweden's central bank on Thursday injected life back into world markets which had been numbed by the stalemate in talks between Greece and its euro zone creditors.
Brent hovered near $55 a barrel on Thursday after data showed U.S. crude stockpiles set a record for the fifth week in a row, renewing fears that supply is still far outpacing demand.
Commodity price-dependent currencies such as the Australian dollar and Norwegian crown were the main movers on major foreign exchange markets on Tuesday, gaining up to a third of a percent on talk of more economic stimulus in China.
Japan's Canon Inc said it plans to buy security camera maker Axis AB for about 23.6 billion Swedish crowns ($2.83 billion) to expand into the surveillance products market amid weak sales of its cameras.
Group of 20 finance officials look likely to reject a proposal to set countries specific investment targets to spur a global economy which appears increasingly reliant on the United States for growth.
Cross-border lending is growing in the euro zone for the first time since the bloc's financial crisis prompted banks to retreat from highly indebted countries such as Spain, Greece, Ireland and Italy.
Crude oil traded $2 higher before paring gains on Friday, on track for a second weekly increase, as chaos in Libya and stronger economic signals from the United States helped futures rebound from near-six-year lows.
European stocks dipped on Friday, with regional indexes pausing just below recent multi-year highs as investors looked to the January U.S. non-farm payrolls report due later in the session.
