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Business

UK heading for recession post-Brexit, finance minister promises response

UK finance minister Philip Hammond has promised a 'reset' of government policy if Britain's economic weakness continues after business surveys showed a fall in orders and confidence.

UK finance minister Philip Hammond has promised a 'reset' of government policy if Britain's economic weakness continues after business surveys showed a fall in orders and confidence.

Business

Hungary resists foreign workers amid labour shortages

Hungary - despite having a labour shortage and one of the lowest birth rates in Europe - is resisting foreigners working there, but that might be changing.

Hungary - despite having a labour shortage and one of the lowest birth rates in Europe - is resisting foreigners working there, but that might be changing.

Business

International Monetary Fund sees feeble growth for Italian economy

The International Monetary Fund predicts GDP growth for Italy of less than one percent this year and only slightly more in 2017, with Brexit and debt-laden banks the biggest factors.

The International Monetary Fund predicts GDP growth for Italy of less than one percent this year and only slightly more in 2017, with Brexit and debt-laden banks the biggest factors.

Europe

EU warns Spain, Portugal over spending

EU finance ministers say Spain and Portugal have broken the bloc’s budget rules and have not done enough to reduce their deficits.

EU finance ministers say Spain and Portugal have broken the bloc’s budget rules and have not done enough to reduce their deficits.

Business

French economic growth 0.2% in Q2

France's economy grew by 0.2 percent between April and June from the previous three months according to the latest estimate from the country's central bank.

France's economy grew by 0.2 percent between April and June from the previous three months according to the latest estimate from the country's central bank.

Business

Brexit sparks London commercial property panic

London's commercial property market has been shaken up by the Brexit vote with property funds having to be frozen to stop investors taking all their money out.

London's commercial property market has been shaken up by the Brexit vote with property funds having to be frozen to stop investors taking all their money out.

Europe

EU seeks to sanction Spain, Portugal over spending

Spain and Portugal could faces fines for breaching EU spending rules after the European Commission opened a sanctions procedure on Thursday over both countries failure to tackle their budget…

Spain and Portugal could faces fines for breaching EU spending rules after the European Commission opened a sanctions procedure on Thursday over both countries failure to tackle their budget…

Business

New 50 euro banknote to fight forgery, reaffirm ECB's commitment to cash

The European Central Bank has unveiled the design and high-tech security features for the 50 euro banknote - the most widely counterfeited bill - before it goes into circulation next April.

The European Central Bank has unveiled the design and high-tech security features for the 50 euro banknote - the most widely counterfeited bill - before it goes into circulation next April.

News

EU extends sanctions against Russia over Ukraine

The European Council has extended economic sanctions targeting specific sections of the Russian economy for a further six months.

The European Council has extended economic sanctions targeting specific sections of the Russian economy for a further six months.

Business

Saddled with 1.3 billion euros of debt, Greek retailer Marinopoulos gets bankruptcy protection

Greece's biggest supermarket chain, Marinopoulos, has gained protection from its creditors from an Athens court while it restructures. It has debts of 1.3 billion euros, half to banks and half to supp

Greece's biggest supermarket chain, Marinopoulos, has gained protection from its creditors from an Athens court while it restructures. It has debts of 1.3 billion euros, half to banks and half to supp