In its autumn forecasts European commission has revised down the growth forecasts for European Union and euro area. The report said, “Annual GDP growth in the EU this year is now projected to be 1.3%, while growth in the euro area is expected to be 0.8%.”
Polish broadcaster TVN TVN.WA and a local unit of German telecommunications company Deutsche Telekom (DTEGn.DE), T-Mobile Polska, said they have entered a strategic partnership and will offer a subscription video-on-demand service.
Global equity markets slipped on Monday, hit by weak German business sentiment and another decline in oil, while Brazil slumped after incumbent Dilma Rousseff narrowly won a second term over an opponent seen as more pro-business.
German tyre and car parts maker Continental AG (CONG.DE) is looking for an acquisition in the industrial sector, possibly in Asia, and could spend up to 2 billion euros ($2.54 billion), its finance chief told a German newspaper.
German Chancellor Angela Merkel thanked ECB President Mario Draghi for spelling out to leaders at an EU summit that governments must play a role in boosting the faltering euro zone economy, and said it was their firm intention to do so.
Private equity firms are circling Bayer's (BAYGn.DE) 10 billion-euro ($12.7 billion) plastics business, hoping to divert the German drugmaker from its plan to list the division, two people familiar with the matter said on Wednesday.
Generic drugmaker Actavis Plc and France's Sanofi SA are among the suitors for privately held Omega Pharma NV [COUCKO.UL], Bloomberg reported, citing people familiar with the matter.
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.
France and Italy will keep pressure on Germany this week to use government money to revive the euro zone's stagnating economy but in a sign of inertia, a promised list of projects to create growth will not be ready until December.
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."
A consortium of infrastructure investors, including the alternative investment arm of German insurance group Allianz, has taken over British rolling stock leasing company Porterbrook Rail Finance [PTKRL.UL].
The S&P 500 on Thursday posted its largest percentage decline in six months on concerns about the strength of the global economy and its effect on corporate earnings.
German automaker Daimler (DAIGn.DE) and industrial gases maker Linde (LING.DE) pledged to build 20 hydrogen fuelling stations in Germany in coming years to boost support networks for eco-friendly cars.
U.S. stocks ended sharply lower on Tuesday, with major indexes falling 1 percent in heavy trading, as weak data out of Germany raised concerns about the strength of global growth ahead of the start of earnings season.
World policymakers gather in Washington later this week to ponder how to sustain economic recovery at a time when the United States is about to turn off its money taps.
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