Italy expects EU deal for Monte dei Paschi rescue within days

By Gianluca Semeraro

MILAN - Monte dei Paschi di Siena is close to reaching an agreement with the European Commission that will pave the way for a state bailout of Italy's fourth biggest bank, a senior Italian treasury official said on Tuesday.

The world's oldest bank must fill a capital shortfall of 8.8 billion euros ($9.9 billion) after it emerged

Exclusive: EDF set to win EU approval for Areva nuclear reactor deal - source

By Foo Yun Chee

BRUSSELS  French utility EDF is set to gain unconditional approval from the EU competition authorities for its plan to acquire a controlling stake in ailing nuclear power engineering group Areva's reactor business, a person familiar with the matter said on Friday.

State-controlled EDF wants to acquire 51 to 75 percent of Areva NP, wh

EXCLUSIVE: EU looks to build alternative to London for capital market - document

By Huw Jones

LONDON  Brexit has forced the European Union to rethink its flagship capital markets union (CMU) project and urgently look for ways to create an alternative financial market to London, according to a draft EU document seen by Reuters on Wednesday.

London is the bloc's biggest financial market by far, but will be outside the EU from 2019

Sri Lanka regains EU trade concession it lost over rights concerns

COLOMBO   Sri Lanka has regained a lucrative EU trade concession it lost over concerns about human rights, mainly benefiting its garments export industry, but it will be subject to vigorous monitoring, the European Union said on Tuesday.

The South Asian island nation lost the concession six years ago.

The trade concession offered by the Generalised

EU court says Singapore trade deal needs national ratification

BRUSSELS  The top EU court ruled on Tuesday that a free trade agreement between the European Union and Singapore cannot fully enter force until ratified by all EU countries, in a legal opinion that could slow down other planned EU trade deals.

The European Union hopes to seal trade agreements with Japan, Mexico and the Mercosur quartet of Argentina, Brazil, Parag

Britain will argue with EU over role of European court - Brexit minister

By Elizabeth Piper

LONDON  Britain is gearing up for rows with the EU over the structure of divorce talks and the future role of the European court, fuelling an increasingly bitter war of words before negotiations begin.

David Davis, Brexit minister in Prime Minister Theresa May's government, described the EU's position on the talks' format

Bank of England: interest rates may need to rise before late 2019 BRITAIN-BOE

By Andy Bruce and David Milliken

LONDON  The Bank of England said on Thursday that it may need to raise interest rates before the late 2019 date that markets had been expecting, assuming Britain can leave the European Union smoothly in two years' time.

With only a month until a national election, the BoE said the short-term squeeze on household

Gold up on buying, euro strength after Macron's win in France

By Swati Verma

BENGALURU  - Gold edged up on Monday on bargain-hunting after dipping to a seven-week low earlier in the session and as the euro strengthened after pro-EU candidate Emmanuel Macron won the French presidential election.

Spot gold rose 0.3 percent to $1,230.88 per ounce as of 0401 GMT, after touching 1,224.86 earlier in the session, its low

Germany proposed charging Britain for EU single market access - magazine

BERLIN  - German government officials have proposed giving Britain access to the European Union's single market in return for a fee, Focus magazine said on Saturday citing a Finance Ministry report.

The 35-page report on the potential costs of Brexit to Germany said Britain's departure from the EU risked "serious economic and stability relevant conse

Global Economy Weekahead - Moment of truth for the euro as France votes

By Jonathan Cable

LONDON- The fate of the European Union and the euro could hang on the outcome of Sunday's French presidential election.

The expected victory of centrist, pro-EU candidate Emmanuel Macron would be taken by markets as a sign that political risk in Europe is receding; a surprise win for far-right candidate Marine Le Pen would raise the ris

Impact on banks from Britain's vote to leave the EU

Global banks have warned they could move thousands of jobs out of Britain to prepare for the expected disruption caused by the country's exit from the European Union, endangering London's status as a major financial centre.

Financial services firms need a regulated subsidiary in an EU country to offer their products across the bloc, and this could lead some to move jobs out of

Standard Chartered favours Frankfurt as EU hub after Brexit

LONDON - Standard Chartered is in talks with regulators about making Frankfurt its European base to secure market access to the European Union when Britain leaves the bloc.

"We are looking at setting up a subsidiary in the EU to ensure we are prepared," Chairman Jose Vinals said on Wednesday at the Asia-focused bank's annual shareholder meeting in London

Wary of Trump, EU courts Iran to bolster moderates ahead of polls

By Alissa de Carbonnel

TEHRAN - Wary of U.S. President Donald Trump's tough talk on Iran, the European Union is courting Tehran to signal to its commitment to a nuclear deal and holding out the promise of its economic payoff ahead of May 19 presidential polls, EU diplomats say.

    Europe's energy commissioner is leading more than 50 Europe

EU suspects Brexit mind games in UK veto on budget

By Alastair Macdonald

BRUSSELS - The European Union called on Britain to lift a pre-election veto on some EU spending, warning it could disrupt the start of Brexit talks, and EU officials suggested London was needling Brussels ahead of negotiations.

European Commission President Jean-Claude Juncker told reporters on Saturday, after a Brussels summit where EU

'Have a little swagger', CEOs tell PM May in bid to make Brexit pay

LONDON - Global chief executives and investors had some sharp advice for Prime Minister Theresa May on Wednesday: Make Brexit a success by looking beyond the European Union and adopting a little swagger about the benefits of the world's fifth largest economy.

While repeatedly calling for a close relationship with the EU after Britain's divorce, May has also pi

Deutsche Bank revenue fall puts pressure on Cryan despite profit lift

FRANKFURT - Deutsche Bank more than doubled its profit in the first quarter, but its shares fell on Thursday after the German lender's earnings showed declining revenues and its securities trading business lagging U.S. rivals.

Shares in Germany's biggest bank were 3 percent lower in early trade compared with a flat German blue-chip index, with analysts pointin

Brexit leaves industrial firms staring into regulatory void

LONDON - Summit Therapeutics is about to start pivotal tests of a novel antibiotic discovered by UK scientists to treat a sometimes deadly bowel infection, but Britons could be the last patients to get it after Britain leaves the EU.

The biotech company headquartered outside Oxford is one of thousands of manufacturers, from aerospace engineers to makers of plastic mou

Trump warming to EU trade deal with Britain behind in queue - Times

LONDON - The United States could strike a free-trade agreement with the European Union after President Donald Trump warmed to a deal with the bloc, the Times reported on Saturday, quoting sources from both sides of the discussion.

Post-Brexit Britain would be pushed behind Europe in the race to secure a U.S. deal after Germany's Angela Merkel persuaded Trump that

GLOBAL ECONOMY WEEKAHEAD: Europe to set new course after EU summit, French vote

By Balazs Koranyi

FRANKFURT - Europe's political fog may finally start to lift in the coming week, with the French presidential election and the European Union's summit on Brexit strategy putting the bloc on a new path after months of uncertainty.

With growth on its best run in years and sentiment indicators pointing to buoyant consumption, clarity i

Exclusive: Clash of science and politics

By Kate Kelland

LONDON - Politicians who attack the EU agency that ruled the weedkiller glyphosate probably does not cause cancer are in danger of undermining the effectiveness of a body that is key to keeping Europeans safe, its chief warned.

Bernhard Url, executive director of the European Food Safety Authority (EFSA), said his agency is facing unprecedent

Greece blows EU-IMF bailout targets away with strong budget performance

By Lefteris Papadimas and George Georgiopoulos

ATHENS - Greece far exceeded its international lenders' budget demands last year, official data showed on Friday, posting its first overall budget surplus in 21 years even when debt repayments are included.

The primary surplus -- the leftover before debt repayments that is the focus of International Monetary

Euro zone March inflation confirmed at 1.5 percent, core rate revised up

BRUSSELS - Euro zone core inflation was higher than initially forecast, the European Union's statistics office said on Wednesday, while confirming its estimate for the headline figure.

Eurostat confirmed inflation in March in the 19 countries sharing the euro slowed down to 1.5 percent year-on-year from a four-year high of 2.0 percent recorded in February.

But core

UK watchdog warns banks against 'opportunistic' transaction booking

LONDON - Britain's top markets regulator will clamp down on any attempt post-Brexit to return to the "bad old world" of opaque transactions in which banks did not know where trades were being booked, he said on Tuesday.

Banks based in London want to maintain broker links with customers across the European Union once Britain has left the bloc in 2019, suc

Yahoo's EU regulator to complete email investigation within weeks

DUBLIN - Yahoo's European regulator said it is preparing to give the U.S. Internet company the results of an investigation into the 2014 theft of data from 500 million users, including any remedial action to avoid a repeat of the breach.

Yahoo said in September last year that hackers had stolen the data in 2014, prompting criticism from U.S. politicians into the d