European Business and Economy

EGB home | Bangla Dating | Bangla Music | Bangla Blog

Major gunrunning and graft trial opens in Paris (AP) -

AP - The son of a former French president, an Israeli-Russian billionaire and a tycoon with ties to Arizona's jet set were among the headliners Monday as 42 defendants went on trial in Paris, accused in a worldwide web of trafficked arms to Angola, money laundering and kickbacks.

Europe governments go their own way on crisis (AP) -

AP - Individual European governments issued a cascade of deposit guarantees to shore up their banks but fell short of any coordinated action Monday to deal with the crisis sweeping financial markets, even as stock markets crashed and the euro sank to its lowest level for over a year.

Crisis topples stocks as U.S. urges unity (Reuters) -

Reuters - Governments around the world grasped at new measures to contain the fast-spreading credit crisis on Monday but stock, bond and commodity markets saw investors betting on deepening uncertainty and a sharp global downturn.

London stocks hit four-year low (AFP) -

AFP - The London stock market nosedived 7.85 percent on Monday, hitting a four-year trough on investor concerns about the spreading global financial crisis, dealers said.

BNP Paribas to take majority stake in Fortis (AP) - AP - Officials of troubled Belgian bank Fortis NV acknowledged Monday they had no choice but to seek a buyout by another bank because of the increasing problems the company suffered due to the global financial credit crisis.

Pope: financial crisis shows futility of money (AP) - AP - Pope Benedict XVI says the global financial crisis show the futility of money and ambition.

European central banks offer more cash to markets (AP) - AP - The European Central Bank, the Bank of England and the Swiss National Bank offered more than $60 billion to markets Monday to try to keep the financial sector flush with cash.

German gov't, banks agree to $69B bailout for Hypo (AP) -

AP - Germany on Sunday guaranteed all private bank accounts and negotiated a 50 billion euro ($69 billion) bailout deal for Hypo Real Estate AG as Europe's second largest economy sought to ward off financial crisis.

UK prime minister makes more government changes (AP) - AP - British Prime Minister Gordon Brown announced more changes to his government Sunday, completing a shake-up intended to strengthen the government as it faces the global economic crisis.

EU provisionally approves Benelux bailout of Fortis (AFP) -

AFP - EU regulators have provisionally approved the original three-country bailout package for troubled finance group Fortis, a spokesman said Sunday, though the deal is swiftly being superceded.

EU leaders to seek early release euro funds: Brown (AFP) -

AFP - European leaders have agreed to ask for the early release of 32 billion euros (25 billion pounds) in European funds to help small businesses weather the global finance crisis, Prime Minister Gordon Brown has said.

EU leaders make vows not plans in face of crisis (AP) -

AP - Europe's four major powers vowed Saturday to do all they could to prevent Wall Street's turmoil from destabilizing their banking systems even as a $48 billion plan to save a German lender fell apart.

Britain to seek quick release of European business fund (AFP) -

AFP - Britain will urge the early release of 12 billion pounds (15 billion euros, 21 billion dollars) in funds committed to helping small business in Europe, when Prime Minister Gordon Brown meets with other European leaders Saturday.

Paris summit seeks European response to crisis (Reuters) -

Reuters - Plagued by fears for the stability of the banking system, European leaders meet on Saturday for a summit French President Nicolas Sarkozy hopes will limit the damage caused by the worst financial crisis since the 1930s.

Nobel speculation centers on rights activists (AP) -

AP - Human rights activists from China and Russia are considered front-runners to win the Nobel Peace Prize next week, while bettors are putting their money on an Italian, a Syrian or an Israeli for the literature award.