Europe Business

Zimbabwe aims to clear World Bank, AfDB arrears in 12 months - minister

20/10 Zimbabwe aims to clear its $2 billion arrears with the World Bank and African Development Bank in the next 12 months, after securing the support of international creditors and donor countries, Finance Minister Mthuli Ncube said on Friday.  Full story

Italy expects EU budget rejection on Tuesday -source

19h47 The Italian government expects the European Commission to decide for the first time ever on Tuesday to ask a member state to revise its draft budget, a government source said on Sunday.. . .  Full story

Germany's Merkel promises legislation to ward off diesel driving bans

19h39 German Chancellor Angela Merkel, campaigning for her Christian Democrats (CDU) to retain control of the crucial state of Hesse in next Sunday's election, promised legislative changes to ward off the threat of air pollution leading. . .  Full story

Italy expects EU's decision on budget on Tuesday -source

19h06 Italy's government expects the European Commission to take on Tuesday the unprecedented decision of asking a member state to amend and resubmit its draft budget, a government source said on Sunday.. . .  Full story

Five-Star leader says he will defend Italy's euro membership

18h20 Italy's Deputy Prime Minister and Five-Star leader Luigi Di Maio said on Sunday he was committed to preserving the country's membership of the euro zone.. . .  Full story

US's Mnuchin says it will be harder for Iran oil importers to get waivers

17h28 U.S. Treasury Secretary Steven Mnuchin said on Sunday it will be harder for countries to get waivers on Iran oil sanctions than during the Obama administration and dismissed concerns that oil prices could rise, saying. . .  Full story

UK's Raab says open to extending Brexit transition as PM May's critics step up attacks

14h33 Britain could accept extending the post-Brexit transition period by a few months if the European Union drops its proposals for a so-called Northern Irish backstop, Britain's Brexit minister Dominic Raab said on Sunday.. . .  Full story

Italy should not ignore damage to banks from soaring bond yields, official tells paper

12h25 Italy's government should not ignore the problems that soaring government bond yields are causing for Italian banks, including possible capital needs, Cabinet Undersecretary Giancarlo Giorgetti said in a newspaper interview on Sunday.. . .  Full story

UK firms near point of no return for Brexit contingency plans, CBI warns

01h01 Most British companies will implement their plans for coping with a disruptive Brexit by December if there is no clarity by then on how Britain will leave the European Union, a survey by a. . .  Full story

Fitch upgrades Cyprus to BBB-, investment-grade rating

20/10 Fitch on Friday upgraded Cyprus's credit ratings to BBB- from BB+, the second ratings agency in the space of little over a month to pull the island back into investment grade territory after a. . .  Full story

Moody's downgrades Italy's debt rating, says outlook stable

20/10 Moody's on Friday cut Italy's sovereign debt rating to one notch above junk status because of concerns over government budget plans, but in a move that could calm investor anxiety, it said the outlook. . .  Full story

Trump to meet heads of Boeing, Lockheed, Northrop at Arizona air base

19/10 U.S. President Donald Trump is scheduled to meet the chief executives of the biggest U.S. defense companies at Luke Air Force Base in Arizona on Friday to discuss how they can source more parts. . .  Full story

Oil up but posts weekly loss on stock build, trade tensions

19/10 Oil prices rose on Friday on signs of surging demand in China, the world's No. 2 oil consumer, although prices were headed for a second weekly decline on swelling U.S. inventories and concern that. . .  Full story

Ukraine secures new $3.9 billion IMF deal after gas price hike

19/10 Ukraine secured a new $3.9 billion stand-by aid agreement with the International Monetary Fund on Friday, helping the country maintain financial stability and the trust of investors as it heads into a choppy election. . .  Full story

EU urges deeper cuts to France's long-term deficit

19/10 The European Commission told France, Spain, Belgium, Portugal and Slovenia on Friday that their 2019 budget proposals did not meet recommended targets for cutting longer-term deficit cycles, but Paris played down the criticism.. . .  Full story

Moody's, S&P ratings downgrade round off tough week for DIA

19/10 Standard & Poor's and Moody's downgraded Spanish supermarket chain DIA's credit ratings to below investment grade, after the retailer issued its third profit warning in 12 months earlier this week.. . .  Full story

Raw sugar ends week higher on Brazil currency; grind data lifts cocoa

19/10 Raw sugar futures settled higher on Friday, supported by the strong currency in top-grower Brazil, while cocoa prices rose on positive grind data from North America and Asia.. . .  Full story

Italy's coalition partners trade barbs over tax amnesty

19/10 The leaders of Italy's ruling coalition parties accused each other on Friday of misleading voters over a disputed tax amnesty in their most acrimonious falling-out since they formed a government in June.. . .  Full story

-EU says no cliff-edge risk from Brexit for derivatives (Oct. 18)

19/10 A report on risks to the stability of derivatives markets posed by Brexit could lead to regulatory intervention, European Commission officials said on Thursday, dismissing warnings they could tumble off a cliff if Britain leaves. . .  Full story

Copper, nickel rise as China pledges support for illiquid firms

19/10 Copper rose on Friday and nickel prices rebounded from a one-month low after regulators in China pledged support for firms with liquidity issues brought on by months of slowing growth.. . .  Full story

Group led by EDP Renewables to invest in floating wind farm

19/10 A consortium led by Portugal's EDP Renewables (EDPR) will invest 125 million euros ($144 million) over three years in a 25 megawatt (MW) floating offshore wind farm, EDPR's principal shareholder Energias de Portugal said on. . .  Full story

French Connection in talks with several parties over sale of company

19/10 French Connection said on Friday it has begun discussions with four interested parties regarding a sale of the British clothing retailer.. . .  Full story

Air France inks pay deal in milestone for new CEO

19/10 Air France-KLM's new Chief Executive Ben Smith struck a pay deal with French unions on Friday, drawing a line under a protracted standoff that had led to costly strikes and the abrupt departure of. . .  Full story

Estonia plans new legal measures to combat money laundering

19/10 Estonia said on Friday it was planning to toughen anti-money laundering rules by forcing people suspected of benefiting from suspicious financial transactions to prove their wealth came from legitimate sources.. . .  Full story

Britain's FTSE stages recovery as investors seek safety

19/10 Britain's top share index closed higher on Friday as a stronger U.S. dollar boosted multinational stocks, higher oil prices lifted energy majors and investors sought safety in utilities and companies deemed less risky amid economic. . .  Full story

-EU signs Singapore trade deal, urges China to open up

19/10 The European Union signed a free-trade deal with Singapore at a summit with Asian leaders on Friday and pressed China to allow greater foreign investment in its economy, but ran into familiar resistance from. . .  Full story

European shares eke out weekly gains after choppy session

19/10 European stocks ended a choppy trading session broadly flat on Friday but managed to eke out a weekly gain despite mixed third-quarter earnings and while the budget row between Italy's populist government and. . .  Full story

Carney says BoE preparing banks for "cliff-edge" Brexit, however unlikely

19/10 The Bank of England is preparing Britain's financial system for the consequences of a "disorderly, cliff-edge" Brexit, however unlikely that may be, Governor Mark Carney said on Friday.. . .  Full story

MTN court case on Nigerian funds transfer set for end Oct -lawyer

19/10 A hearing in the court case between MTN and Nigeria's central bank in a dispute over the alleged illegal transfer of $8.1 billion of funds by the telecoms firm, has been. . .  Full story

Norwegian regulator wants more banks considered systemically important

19/10 More Norwegian banks should be considered systemically important and be subject to higher capital requirements, the country's financial regulator said on Friday.. . .  Full story

Germany to give cabin crew more rights amid Ryanair row - minister

19/10 The German government will propose legislation to guarantee airline cabin crew have the right to set up a works council, the labour minister said on Friday, in an action aimed at Ireland's Ryanair.. . .  Full story

Thyssenkrupp declares force majeure on low Rhine water levels

19/10 German industrial conglomerate Thyssenkrupp has declared force majeure as the Rhine's extremely low water levels are disrupting the delivery of raw materials to its Duisburg plant, the company said on Friday.. . .  Full story

TransferWise targets Asian faster payments systems in regional growth push

19/10 UK-based financial technology firm TransferWise plans to nearly double its Asia Pacific headcount and link up with new instant payments infrastructure in both Hong Kong and Singapore, its chief executive said in an interview.. . .  Full story

StanChart set to miss 2018 cost targets -executive

19/10 Standard Chartered is a facing "a significant challenge" to meet its 2018 cost reduction targets and will likely cut jobs, freeze hiring and reduce investment, its chief financial officer said in an internal email.. . .  Full story

Italy's Conte sees no need to change budget despite EU concern

19/10 Italian Prime Minister Giuseppe Conte said on Friday he saw no need to change his government's 2019 budget, despite European Commission warnings over the bulging deficit.. . .  Full story

Spanish banks recover after court to review mortgage stamp duty ruling

19/10 Shares in Spanish banks rebounded on Friday after the Supreme Court said it would review the impact of a ruling on mortgage stamp duty after initially saying on Thursday that banks would have to. . .  Full story

French, British lead foreign house buying in Portugal

19/10 Foreigners accounted for 11.5 percent of the value of all Portuguese property transactions in 2017, led by French and British buyers, the National Statistics Institute said on Friday.. . .  Full story

Piraeus Port urges Greece to speed up investment plan approval

19/10 Piraeus Port Authority (PPA), operator of Greece's largest port, wants the Greek government to speed up the approval of an investment plan that aims to attract more business to one of Europe's largest harbours,. . .  Full story

High noon in Brussels: Italy prepares for budget showdown

19/10 The European Central Bank's policy meeting will be relegated to a sideshow next week as the wrangle over Italy's budget takes the main stage.. . .  Full story

Beyond the setbacks, Macron's reform push begins to pay off

19/10 While France has experienced political turbulence and disappointing economic data in recent months, beneath the surface are signs of deeper change that suggest President Emmanuel Macron's reform drive is starting to bear fruit.. . .  Full story

Acacia Mining looks to force talks on Tanzania dispute

19/10 Acacia Mining threatened to use a bilateral investment treaty to force face-to-face talks with Tanzania over a long-running tax dispute that has seen the gold miner hit with a huge tax bill.. . .  Full story

Ryanair trumpets progress in relations with European pilots

19/10 Ryanair said on Friday it had reached an agreement with British, Portuguese and Italian pilots on contentious seniority and home base issues as the Irish budget airline seeks to end a damaging series of. . .  Full story

Italy economy almost stagnated in Q3, central bank estimates

19/10 The Italian economy grew just 0.1 percent in the third quarter of this year from the previous three months as industrial output stagnated, the Bank of Italy estimated on Friday.. . .  Full story

UK budget gap shrinks, but leeway still limited for Hammond

19/10 Britain's government recorded a smaller budget deficit than expected in September, but the improvement is unlikely to give much help to finance minister Philip Hammond as he prepares his annual budget.. . .  Full story

DS Smith to launch sale of plastics packaging unit in November

19/10 British packaging group DS Smith is expected to launch the sale of its plastic packaging division in November, three sources familiar with the matter said, in a deal that could be worth around $800. . .  Full story

Slower orders for Atlas Copco spooks industry rivals too

19/10 Sweden's Atlas Copco reported lower than expected third-quarter orders on Friday and forecast softer demand for the remainder of the year, sending shares in the industrial equipment maker tumbling.. . .  Full story

Melrose starts GKN break-up with launch of powder metallurgy sale - sources

19/10 Turnaround specialist Melrose has fired the starting gun on a break-up of Britain's 250-year old GKN by launching a sale of the engineer's powder metallurgy business which could fetch around 1.5 billion pounds ($1.96 billion).. . .  Full story

European politicians call for clampdown on tax trade trick

19/10 European politicians have called for action to tackle dividend stripping after Reuters and other media revealed how large banks were involved in trading schemes that cost taxpayers billions of euros.. . .  Full story

Croatia pension funds hope to invest in privatisations

19/10 Croatia's mandatory private pension funds said on Friday they are hoping the state will sell shares in big companies so they can diversify more into equity investments, which would help reduce the public debt.. . .  Full story

Demand outlook, emissions worries put brakes on truckmaker Volvo

19/10 Swedish truckmaker Volvo forecast slower demand for trucks in Europe and China next year, fuelling investor concerns these major markets may have peaked and sending its shares into reverse.. . .  Full story

InterContinental Hotels' lacklustre numbers send shares down 5.8 pct

19/10 InterContinental Hotels Group (IHG) reported only a small rise in revenue per available room in the third quarter, held back by a U.S. decline in the face of competition from online rental services, sending. . .  Full story

Turnaround specialist Zegona to raise stake in Spain's Euskaltel

19/10 Britain's Zegona Communications , set up to invest in European tech and telecoms companies, said on Friday it was increasing its stake in Spain's Euskaltel to 29.9 percent to give it more influence on the. . .  Full story

Telia warns Sweden reforms to take another year, shares fall

19/10 Telia Company expects reforms in Sweden to take a year longer than planned, the Nordic telecoms company warned on Friday, sending its shares lower despite beating quarterly profit forecasts and raising its outlook.. . .  Full story

Swiss banks court rich Americans a decade after tax drama

19/10 Ten years after a booming business with discretion-minded U.S. clients cost Swiss banks billions of dollars and put an end to Swiss banking secrecy, the world's private banking hub is looking to reestablish ties. . .  Full story

Russian spying significant and increasing - Swiss intelligence chief

19/10 Russia spying in Switzerland is significant and increasing, the Swiss intelligence agency said on Friday after two high-profile cases involving alleged Russian agents attempting to infiltrate sites in Switzerland.. . .  Full story

Asian spot prices fall for 4th week on new Australian supply

19/10 Asian spot prices for liquefied natural gas dropped for a fourth week in a row, trading at their lowest in two months, amid increased supply courtesy of a new project in Australia and expectations. . .  Full story

UK should bring forward new petrol and diesel car ban to 2032 – lawmakers

19/10 Britain should bring forward a ban on the sale of new petrol and diesel cars and vans by eight years to 2032 to help the country reduce its greenhouse gas emissions, a parliamentary committee. . .  Full story

German industry "staring into abyss" of no-deal Brexit - BDI

19/10 German industry association BDI on Friday called on European and British leaders to reach a swift and solid Brexit deal, warning that companies are "staring into the abyss" unless an agreement is struck.. . .  Full story

New LSE boss in $500 million move to tighten hold on clearing business

19/10 The London Stock Exchange tightened its grip on derivatives clearing on Friday in a sign of growing confidence that the threat of losing chunks of business to European Union rivals after Brexit was receding.. . .  Full story

Slovenia sees 2018 budget surplus of 0.5 pct of GDP

19/10 Slovenia's budget surplus should reach 235 million euros ($270 million), or 0.5 percent of gross domestic product, this year versus 0.1 percent in 2017, the statistics office said on Friday, citing the forecast of. . .  Full story

UK's Intu Properties shares rise on Whittaker takeover bid

19/10 Shopping centre owner Intu Properties said it was considering a 215 pence per share preliminary takeover offer from a consortium led by its deputy chairman John Whittaker, sending it shares 14 percent higher on Friday.. . .  Full story

Euro zone current account surplus widens sharply in August

19/10 The current account surplus of the 19 countries sharing the euro widened to 24 billion euros in August from 19 billion euros the previous month as the trade surplus also increased, the European Central. . .  Full story

Sarah Behbehani joins JERA trading as head of LNG

19/10 Sarah Behbehani, previously head of liquefied natural gas (LNG) trading at Shell, has joined JERA, the world's biggest buyer of LNG where she will head the company's LNG operations.. . .  Full story

Bouygues shares slump after French conglomerate's profit warning

19/10 Bouygues' shares fell sharply in early trading on Friday after the French conglomerate lowered its full year operating profit forecast, citing difficulties at its construction businesses during the third quarter.. . .  Full story

EU Commission should send clear message to Italy -Austrian fin min

19/10 The EU Commission should make it clear to Italy that it has to stick to the rules of the single currency union, Austria's finance minister said on Friday.. . .  Full story

CVC invites banks to pitch to sell or list Nordic optical retailer Synsam

19/10 Private equity fund CVC has invited banks to pitch for the sale or initial public offering of Nordic optical retailer Synsam, two sources familiar with the matter said, in a deal which could value. . .  Full story

Bank of Kigali prices its cash call at 270 francs per share

19/10 Rwanda's Bank of Kigali has priced its rights issue at 270 francs per share, seeking to raise 60 billion francs ($67.81 million), it said in a statement seen by Reuters on. . .  Full story

Provident sees progress for credit card, home credit arms

19/10 Sub-prime lender Provident Financial said on Friday its credit card business was on track to deliver full-year profits in line with an internal plan as it continues to rebuild its businesses after a series. . .  Full story

Acacia Mining threatens to invoke investment treaty in Tanzania dispute

19/10 Acacia Mining said on Friday it would seek direct dialogue with Tanzania over a long-running tax dispute and threatened to invoke a bilateral investment treaty should a settlement not be reached.. . .  Full story

Michelin shares slide after tyre maker cuts market forecasts

19/10 Shares in Michelin fell sharply on Friday after the French tyre maker cut its full-year market forecasts and said a sales slowdown would worsen in the fourth quarter.. . .  Full story

Australian, NZ shares dragged down by weak Chinese GDP data

19/10 Australian shares edged lower on Friday as China posted its weakest economic growth since the global financial crisis, though the market was off its morning lows as Beijing pledged more policy support to mitigate. . .  Full story

Extension of Brexit transition would not solve the problems - German minister

19/10 The European Union and Germany's government will not block an extension of the post-Brexit transition period, but an extension alone will not solve the problems on hand, European Affairs Minister Michael Roth said on Friday.. . .  Full story

China's Sinopec in talks for more Papua New Guinea LNG ahead of winter demand surge -sources

19/10 Unipec Asia, the trading arm of Chinese oil major Sinopec , is in talks to buy more liquefied natural gas (LNG) from the Exxon Mobil Corp-operated Papua New Guinea (PNG) project, five industry sources told. . .  Full story

Amazon to open Manchester office as it adds 1,000 British jobs

18/10 is opening its first office in Manchester, northern England, and expanding two other centres to house 1,000 new R&D roles in what it said was a major new investment in British innovation.. . .  Full story

De Beers eyes tech markets for synthetic diamonds future

18/10 Anglo American unit De Beers is going after lucrative, but elusive high-tech markets in quantum computing, as it aims to expand its lab-grown diamond business beyond drilling and cutting.. . .  Full story

EU says no cliff-edge risk from Brexit for derivatives

18/10 A report on risks to the stability of derivatives markets posed by Brexit could lead to regulatory intervention, European Commission officials said on Thursday, dismissing warnings they could tumble off a cliff if Britain leaves. . .  Full story

VW's Porsche expects to repeat record vehicle sales this year

18/10 Volkswagen's Porsche brand does not need a stock market listing to fund growth, Chief Executive Oliver Blume said, adding he is confident the maker of the iconic 911 sportscar can repeat last year's record sales. . .  Full story

EU rejects U.S. "blackmail" to dilute derivatives clearing rules

18/10 The European Union rejected U.S. calls to water down new derivatives clearing rules on Thursday, saying EU lawmakers would not be "blackmailed" and it had every right to supervise foreign financial firms in. . .  Full story

Italy defends budget as EU warns of "unprecedented" rules breach

18/10 Italy's Prime Minister defended its free-spending budget on Thursday, brushing off criticism from Brussels as the European Commission stepped up pressure over a draft it labelled an unprecedented breach of EU fiscal rules.. . .  Full story

Italy's 5-Star seeks "clarification" with League over tax amnesty row

18/10 The head of Italy's anti-establishment 5-Star Movement Luigi Di Maio said on Thursday that a dispute with the League over a tax amnesty needed to be sorted out because it was upsetting financial markets.. . .  Full story

EU says Italy budget poses no stability risk to bloc

18/10 Italy's planned budget plan does not pose a "Greek-like" threat to European Union financial stability but Brussels was looking at what could be the "next steps", the bloc's financial services chief said on Thursday.. . .  Full story

Michelin cuts market forecasts on EU emissions squeeze, China slowdown

18/10 French tyre maker Michelin cut its full-year market forecasts on Thursday and said a sales slowdown would worsen in the fourth quarter, blaming weaker Chinese vehicle demand and new emissions standards that have hit European. . .  Full story

Italy's Conte downplays Rome's breach of EU fiscal rules

18/10 Italy's Prime Minister Giuseppe Conte said on Thursday its deviation from EU fiscal targets was "not large", as the European Commission warned of "particularly serious non-compliance" in its draft budget for next year.. . .  Full story

FTSE 100 slips into red on Q3 earnings, Wall Street gloom

18/10 Britain's top share index eased on Thursday as disappointing earnings hurt construction materials companies and consumer giant Unilever, while investors sought sectors seen as safe amid growing economic uncertainty.. . .  Full story

Despite "big gaps", Britain and EU talk up Brexit prospects

18/10 British Prime Minister Theresa May and other EU leaders voiced renewed confidence on Thursday they could secure a Brexit deal, saying they were working hard to overcome the hurdles that only days ago brought. . .  Full story

French foie gras makers say they are ready if bird flu returns

18/10 French foie gras makers, still recovering from two severe bird flu crises that ravaged flocks, said on Thursday they would be able to face any new outbreak thanks to strict security measures but prices. . .  Full story

Fearing election hacking, EU leaders to ready sanctions

18/10 European Union leaders agreed on Thursday to impose sanctions to stiffen their response to cyber attacks and to rush through new curbs on online campaigning by political parties to protect next year's European polls from. . .  Full story

European shares surrender to falling bank, tech stocks as Wall Street slides

18/10 European shares swung back into the red on Thursday as fears of rising rates and disappointing earnings from U.S. industrials dragged Wall Street down, while HeidelbergCement's profit warning sank European construction stocks.. . .  Full story

Nickel hits one-month low on China growth worries, U.S. rates

18/10 Nickel hit a one-month low on Thursday, with copper and lead prices also in the red, as investors worried about Chinese growth and higher U.S. interest rates.. . .  Full story

Russian firms test non-dollar deals to sidestep any U.S. sanctions

18/10 Several major Russian companies are exploring ways to do deals abroad without using dollars, spurred on by a U.S. threat to broaden sanctions that have impeded access of some Russian firms to the international banking. . .  Full story

ECB's Draghi: undermining EU budget rules carries high price for all

18/10 There is no evidence that undermining the European Union's budget limits on borrowing leads to prosperity, but it is clear that such actions are costly for all in the single currency area, the head. . .  Full story

France to allow congestion pricing in bid to reduce traffic jams

18/10 France plans to make it easier for cities to introduce congestion pricing in a bid to reduce traffic jams and air pollution, the transport minister said on Thursday.. . .  Full story

EU wants to know if Alitalia pays interest on 900 mln euro state loan

18/10 Europe's antitrust chief Margrethe Vestager has asked Italy if Alitalia pays interest on a 900-million-euro ($1 billion) loan granted to the carrier last year to keep it afloat while it looks for a buyer.. . .  Full story

EU negotiator calls for "orderly Brexit" with Irish backstop

18/10 Britain's departure from the European Union must be orderly and include an insurance against a hard border on the island of Ireland, the European Union's Brexit negotiator Michel Barnier said on Thursday.. . .  Full story

Adyen seeks to expand in Italy as mobile payments soar

18/10 Adyen, the payments processor for Facebook and Netflix, is looking to expand its presence in Italy where a shift from cash to cards is accelerating.. . .  Full story

Euronext courts Italian tech companies for Paris listings

18/10 Pan-European stock exchange Euronext is seeking to lure promising Italian technology companies to list in Paris, saying they will benefit from a wider pool of tech investors than in Italy.. . .  Full story

Pricing boost helps Philip Morris quarterly results to beat estimates

18/10 Philip Morris International , maker of Marlboro cigarettes, maintained its full-year guidance on Thursday after higher pricing helped it to report better than expected quarterly sales and profit.. . .  Full story

Acadia Healthcare in talks with private equity firms-sources

18/10 Acadia Healthcare Co Inc, a U.S. operator of behavioral health centers, is in talks with private equity firms about selling itself after attracting buyout interest, people familiar with the matter said on Thursday.. . .  Full story

Ryanair makes no concessions to Polish union demands on contracts

18/10 Ryanair will press ahead with plans to move Polish staff on to self-employed contracts, Ryanair's Chief Marketing Officer Kenny Jacobs said in an interview with Reuters.. . .  Full story

Lion Capital sells Dutch retailer HEMA to Dutch billionaire

18/10 HEMA, one of the Netherlands' largest retail chains, said on Thursday it will be bought for an undisclosed sum by investment firm Ramphastos Investments, owned by Dutch billionaire Marcel Boekhoorn.. . .  Full story

Take it or leave it? EU offers May few options on Brexit deal

18/10 The European Union and Britain have given themselves a few more weeks to break the deadlock in their Brexit talks but for Brussels the delay seems mainly about Prime Minister Theresa May dealing with. . .  Full story

Spanish banks under pressure after court ruling on mortgage stamp duty

18/10 Spanish bank shares fell sharply on Thursday after the Supreme Court ruled banks must pay stamp duty on mortgage loans, potentially costing them billions of euros in compensation and raising pressure on their lending business.. . .  Full story

China seen sustaining recovery in global mining M&A

18/10 A rebound in mining mergers and acquisitions is set to continue into 2019, led by companies from top metals consumer China, as a dearth of exploration spending leaves the industry in need of fresh investment,. . .  Full story

Creditor seeks to wind up Kenya's Uchumi Supermarkets over debt

18/10 A Kenyan company is seeking the dissolution of retailer Uchumi Supermarkets over a 44.8 million shilling ($444,000) debt, according to court documents seen by Reuters on Thursday.. . .  Full story

Primark sharpens ethical focus in bid for German customers

18/10 Primark, the fashion chain owned by Associated British Foods, has emphasised its commitment to environmental standards and safer working conditions as it fights for market share in discount-loving Germany and other countries.. . .  Full story

Retailer Casino's shares fall on concerns over Rallye accounts

18/10 Shares in debt-ridden retailer Casino fell on Thursday due to new concerns over the financial situation of its parent company Rallye.. . .  Full story

Resolution's Cowdery has $2 bln life insurance deal in sight

18/10 UK life insurance entrepreneur Clive Cowdery, who pioneered the practice of buying up closed books in Britain and the U.S., has launched a new company as more assets come up for sale and hopes. . .  Full story