United Parcel Service said it would drop its 5.2 billion euro ($7 billion) bid for Dutch delivery firm TNT Express on the expectation of an EU veto, a sharp blow that halved the value of TNT's shares within minutes.
European banks have asked the European Commission to postpone the introduction of tougher global bank capital rules by a year to 2014 after US regulators told them they did not expect new regulations to take effect in 2013.
Google accused Microsoft Corp and Nokia of conspiring to use their patents against smartphone industry rivals, and said it has filed a formal complaint with the European Commission.
In its complaint, Google claimed Microsoft and Nokia, whi
The president of the European Commission appealed to EU leaders on Thursday to set aside their differences and unite to rescue the euro from a sovereign debt crisis that is menacing the world economy.
The International Air Transport Association (IATA) reacted cautiously to the recent European Commission’s Airport Package of Legislation publication which is aimed at addressing the critical issues of European airport capacity and competitiveness.
Britain urged European Union foreign ministers to step up economic pressure on Iran on Thursday over its nuclear programme, but uncertainty remained over whether new EU sanctions would go as far as an oil embargo.
The European Commission said on Monday it had received a request from Hungary for possible EU financial assistance and that the authorities in Budapest had made a similar request to the International Monetary Fund.
"They have also in
EU countries that want to bail out struggling banks will continue to have leeway to do so, the official in charge of enforcing antitrust rules said on Thursday, promising to keep rules flexible into next year.
Competition Commissioner Joaq
Brent crude rose on Wednesday as proposals from the European Commission to issue joint bonds reassured investors hoping for a resolution to the euro zone debt crisis.
The move was relatively muted, however, as uncertainty remained on the
Time is running out for Greek politicians to reach agreement on backing an economic adjustment programme to deal with its debt crisis, the European Commission's top economics official said.
"We expect that the efforts towards a cross-party