Europe

Lotus to move production to Europe if loan not sanctioned

Dany Bahar, the chief executive of iconic sports car brand Lotus, has warned that the Hethel-based company would move production to Europe in case the government disapproves its application for 40 million pounds loan.

Mr. Bahar said the company was in talks with two overseas automakers, viz. Austria-based Magna Steyr and Finland-based Valmet, and one of the two would take over car making in case company’s loan application was turned down.

Google's large size matters to market regulators

The large size of Silicon Valley-based Google matters to European Union which announced an antitrust investigation into accusations that the internet search giant was rigging the online search market.

Google has been accused of giving "unfavorable treatment" to small companies’ services in both unpaid as well as sponsored search results.

Up until now, the Silicon Valley giant has faced probes focused on particular acquisitions or narrow complaints. Rumoured deal that the company would acquire online discount coupon firm Groupon Inc. will also trigger an antitrust probe.

SABMiller Offsets Western Losses with Growth in Africa and Asia

Despite slow sales in Europe, SABMiller has reported improving sales volumes thanks to strong gains in developing countries.

SABMiller, a brewer for Peroni Nastro Azzurro, reported an increase of 1% in the 6 months ending on September 30, excluding the effect of acquisitions. The company rose as much as 16 pence—about 0.8%--and was up 0.2% in London trading as of 12:45p.m. The company’s stock has gained 13% this year, valuing it at £32.7 billion ($52 billion).

Europe Stocks Mark a Surprise Rise

Stocks in Europe marked a rise on Tuesday, snapping a six-session falling trend. The rise is claimed to be backed by the boost witnessed in the British services activity, which resulted in improvement of consumer sentiment.

In addition, travel stocks were also seen to mark a rise, with a climb in bookings with TUI Travel (TT.L).

At 1059 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares registered a rise by 0.2 % at 1,052.60 points, marking a climb to a high of 1,056.68 earlier in the session, landing a one-month low on Monday.

High Debt Level Countries to Be Penalized

For all the countries that are unable to lessen their high debt levels, the European leaders have asked for penalties and fines to be imposed on them.

Furthermore, there is still no particular gauge to decide as to which country is violating the debt guidelines and also as to how should the fines be imposed.

Herman Van Rompuy, the EU's permanent President said, "There is an agreement that, in a system where fiscal responsibility remains largely under the responsibility of national authorities, there is need for a credible enforcement mechanism at the EU level".

Stocks in Europe Appreciate Following Buy Out of Alberto Culver

Stock markets in Europe received a little push on Monday following a report about a deal that was struck between Unilever and Alberto Culver. The deal that provided the little boost to the stock market was because theAnglo-Dutch Company, Unilever had struck a deal to buy-out the hair-product Company Alberto Culver.

The agreement between the two conglomerates amounted to an amount of $3.7billion.

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