Asian stocks were cautiously up on Wednesday as benign inflation data in China and more gloom in the euro zone economy lent credence to fears of a faltering global economic recovery.
Tags: Europe
Lufthansa cancels flights due to pilots strike; train stoppage strands millions
German airline Lufthansa (LHAG.DE) canceled 1,450 flights after a pilots union called for a strike on Monday and Tuesday, adding to travelers' misery after millions were left stranded by a weekend-long train drivers' stoppage.
As IPO markets stumble, private equity buyers prepare to swoop
Across Europe, companies hoping to list are having their plans dashed by plunging equity prices. But what's bad for public stock markets may be good for private equity firms.
Markets may have over-reacted to slowdown: Bank of England's Haldane
Investors may have over-reacted to signs of economic slowdown, although they have been right to price in weaker global growth prospects, the Bank of England's chief economist said in a Sunday newspaper interview.
Russia and Ukraine reach tentative gas deal in tough Milan talks
Russia and Ukraine made progress on Friday towards resolving a dispute over gas supplies in time for winter, but European leaders said Moscow still had to do much more to prop up a fragile ceasefire and end fighting in eastern Ukraine.
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A Chinese drugmaker with close military ties is seeking fast-track approval for a drug that it says can cure Ebola, as China joins the race to help treat a deadly outbreak of a disease that has spread from Africa to the United States and Europe.
The German and French economy ministers have asked experts in Berlin and Paris to come up with reform recommendations for both countries in an apparent attempt to avert a full-blown clash between the euro zone heavyweights over economic policy.
Tunisia lost about a third of its French tourist bookings to cancellation shortly after the beheading last month of a French traveler by Islamist militants in neighboring Algeria, the country's tourism minister said on Monday.
Policymakers scrambling to keep the world economy from settling into the "new mediocre" of sluggish growth can no longer rely on global trade to do the heavy lifting.
Federal Reserve officials on Saturday took stock of a slowdown in the global economy and said it could delay an increase in U.S. interest rates if serious enough.
The International Monetary Fund's member countries on Saturday said bold action was needed to bolster the global economic recovery and they urged governments not to squelch growth by tightening budgets too drastically, although Germany poured cold water on the idea of a new global "crisis."
Ireland is set to announce legal changes next week to phase out the "Double Irish" tax arrangement that has let firms such as Google (GOOGL.O) save billions of dollars, two sources familiar with the matter said.
Global shares fell to a six-month trough and Brent crude futures tumbled to their lowest since 2010 on Friday as investors worried about the prospect of a widespread economic slowdown just as U.S. monetary stimulus nears its end.
BNP Paribas has asked at least three banks to help it clear certain energy transactions in U.S. dollars next year to make sure it can keep its energy trade finance division operating after a ban imposed for violating U.S. sanctions, sources said.
