The European Magazine


President Joko Widodo and Prime Minister Dato’ Sri Mohd Najib Tun Abdul Razak open the 12th World Islamic Economic Forum in Jakarta

The 12th WIEF aims to further explore the crucial role of micro, small and medium enterprises (MSMEs) in driving economic growth in economies around the world, in line with its theme this year, “Decentralising Growth, Empowering Future Business”. Jakarta, 2 August 2016 – Indonesian President Joko Widodo and Malaysian Prime Minister Dato’ Sri Najib Tun […]


Sterling inches lower after PMI index dips again

* Sterling short positions highest on record * Investment focus on sterling: By Patrick Graham LONDON, Aug 1 (Reuters) – Sterling pulled back on Monday from highs hit against the dollar late last week, as a manufacturing survey brought more worrying signs on the economy before a Bank of England meeting expected to cut interest […]


Biogen exercises option to develop muscle drug after trial success

By Natalie Grover (Reuters) – Biogen Inc said it would exercise an option to develop and commercialize an experimental genetic muscle-disorder drug after an interim analysis of late-stage data showed patients experienced statistically significant improvement. The drug, nusinersen, was being developed by Biogen in collaboration with Ionis Pharmaceuticals Inc, to treat spinal muscular atrophy (SMA). […]


Trina Solar agrees to be taken private in $1.1 bln deal

Aug 1 (Reuters) – Solar panel maker Trina Solar Ltd said it agreement to be acquired by an investor consortium that includes Chief Executive Jifan Gao, in an all-cash deal valuing the Chinese company at about $1.1 billion. The consortium also includes Shanghai Xingsheng EquityInvestment & Management Co Ltd and Shanghai Xingjing Investment Management Co […]


CANADA STOCKS-TSX turns lower as energy stocks fall with oil’s tumble

* TSX down 50.2 points, or 0.35 percent, at 14,499.80 * Six of the TSX’s 10 main groups move lower TORONTO, July 27 (Reuters) – Canada’s main stock index reversed course on Wednesday, turning lower as slumping oil prices hit energy shares, offsetting gains for gold miners and companies that reported stronger-than-expected results. Oil prices […]


Wall St gives up gains as Coke, weak oil drag

* Fed statement expected at 2:00 p.m. ET * Coca-Cola drags S&P, Dow * Oil drops 2 pct * Indexes: Dow up 0.06 pct, S&P down 0.14 pct, Nasdaq up 0.44 pct July 27 (Reuters) – Wall Street gave up early gains after disappointing earnings from Coca-Cola and weak oil prices offset a boost from […]


TauRx Alzheimer’s drug fails in large study; some benefit seen

CHICAGO, July 27 (Reuters) – TauRx Pharmaceuticals’ experimental Alzheimer’s drug LMTX failed to improve cognitive and functional skills in patients with mild to moderate Alzheimer’s disease, a large, late-stage study showed. But the drug did show a benefit in a small group of patients who were not taking other standard Alzheimer’s drugs, according to the […]


British holidaymakers hold off travel money buys as pound languishes

By Patrick Graham LONDON, July 15 (Reuters) – British travellers’ appetite for dollars and euros has sunk in the three weeks since Britain voted to leave the European Union, as they seemingly wait as long as possible in the hope that the pound’s exchange rate will rebound. Both Thomas Cook and Travelex said that travel […]


BoE’s Carney says G20 summit to focus on green finance

* Carney sees investor demand for green finance * Says carbon pricing cleanest way to regulate emissions (Adds comments on green bond market, carbon pricing) By Matt Scuffham and Fergal Smith TORONTO, July 15 (Reuters) – Climate change and the funding of “green” initiatives will form a major part of this year’s G20 summit in […]


Four countries most at Zika risk due to Olympics travel-CDC

July 13 (Reuters) – Four countries are most at risk from a Zika outbreak as a result of travel related to the Rio Olympics and Paralympic Games, a U.S. health agency said on Wednesday. The U.S. Centers for Disease Control and Prevention identified Chad, Djibouti, Eritrea and Yemen as most susceptible to mosquito-borne transmission of […]


Wanted by investment banks: students not studying finance

* Investment banks change intern recruitment policies * Looking for candidates with broader backgrounds * Part of wider push to stop quick buck culture * Weekends now protected as work/life balance changes * Graduates still look to Silicon Valley, Wall Street By Anjuli Davies LONDON, July 13 (Reuters) – When Barclays executive Sam Dean went […]


Britain confident of meeting 2020 renewable target

* Target is 15 pct of energy from renewables by 2020 * Expects target to remain binding despite Brexit LONDON, July 13 (Reuters) – Britain is on track to meet its 2020 European renewable energy target and its commitment will not be affected by the country’s vote to leave the EU, government officials said on […]


Financial sector distracted by compliance burden

Systemic updating of processes required to stay ahead of regulatory change London, 13 July 2016: The UK financial services (FS) sector’s infrastructure is chronically unprepared to deal with the regulatory changes that will come as a result of the country leaving the EU, according to award-winning FS management and technology consultancy Brickendon. Compliance and regulatory […]


WTO’s new trade index suggests sluggish Q3 world trade growth

GENEVA, July 8 (Reuters) – The World Trade Organization on Friday forecast sluggish trade growth in the third quarter of 2016 as it published a quarterly trade barometer for the first time. The World Trade Organization Index (WTOI) showed a current reading of 99.0, slightly below trend and with a downward tendency in the most […]


Brexit spurs London entrepreneur to chase EU business goal

July 8 (Reuters) – Undeterred by Brexit, small entrepreneurs like London’s Rocaba Packaging still see the European Union as their natural market and intend to win more customers there as soon as possible. Rocaba, with 34 employees and annual sales of about 5 million euros ($5.5 million), is racing to open subsidiaries and set up […]


Who are the people who elect Britain’s next Prime Minister?

LONDON, July 8 (Reuters) – Britain’s next prime minister, tasked with negotiating the country’s exit from the European Union, will be chosen by Sept. 9 following a vote of the ruling Conservative Party’s 150,000 grassroots members. After two votes by Conservative lawmakers, the two candidates for the job are interior minister Theresa May and Andrea […]


Where luxury yachting takes centre stage

Once a year, at the heart of the French Riviera, the city of Cannes enjoys an elite gathering to become the luxury yachting capital of the world