| Franc Erodes Swiss Draw for Companies
Even as the Swiss National Bank sought again to pull down the soaring Swiss franc, the currency's strength is beginning to nibble away at Switzerland's role as a favorite destination for foreign multinationals.
Fed Eyes Cash Europe Banks Have in U.S.
Federal and state regulators, signaling concerns that Europe's debt crisis could spill into the U.S. banking system, are intensifying their scrutiny of the U.S. arms of Europe's biggest banks.
New Russia Turns 20, Its Martyrs Forgotten
Once proclaimed heroic martyrs, three Russians are all but forgotten?obscured by deep disillusionment with the political and economic chaos that for many Russians defined Boris Yeltsin's attempt at democratic rule in the 1990s.
France, Germany Seek Sanctions
France and Germany increased the pressure on their euro-zone peers to improve fiscal discipline in the bloc with a proposal to cut off the region's wayward spenders from key European Union transfer funds.
Europe Stocks Slide
Stocks fell sharply, with banks plunging amid concerns about the global economy. Investors suspect that short selling or hedging by a large investor in the German DAX sent that index plunging nearly 4%.
Retail Sales Stay Sluggish in U.K.
U.K. retail sales rose less than expected in July as a decline in the sales of clothing, footwear and household good offset an improvement in sales at food stores.
Proposed EU Tax Faces Fight
German exchange operator Deutsche Börse and several lobby groups strongly rejected a proposed tax on financial transactions that is becoming more concrete in Europe.
ECB's Bond Resolve Faces More Tests
The European Central Bank is running to stand still. Its purchases of Italian and Spanish government bonds has pushed yields to around 5% but isn't sparking similar buying by private investors.
Franc's Strength Hits Holcim
Holcim said the strong Swiss franc, high raw-material costs and difficult market conditions hurt second-quarter earnings and will keep a lid on business for the rest of 2011.
Shell Defends Bid to Stanch Spill
Royal Dutch Shell said a fix to a leaking pipeline in the U.K. is slowed by efforts to stop some 660 tons of oil still inside the pipeline from leaking out.
SABMiller Raises Heat on Foster's
SABMiller said it would take its $9.97 billion bid for Foster's directly to shareholders, two months after the Australian brewer rejected the offer.
Euro-Zone Inflation Eases
The annual rate of inflation in the 17 countries that share the euro fell in July as retailers slashed prices of summer clothing, although it remained above the European Central Bank's target.
U.K. Police Watchdog Clears Officers
Britain's police watchdog cleared four senior police officers of misconduct over their role in the London police's widely criticized 2006 investigation into phone hacking at the News of the World tabloid.
Rising Costs Curb Petrobas Income
Rising costs for maintenance and refined product imports constrained second-quarter profits at state-controlled energy giant Petrobras, which this week reported earnings rose 32% from a year ago.
Carlsberg Warns on Profit
Danish brewer Carlsberg issued a full-year profit warning after demand in Russia fell due to increased duties that have pushed up beer prices in the country.