Europe

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Coffee ‘squeeze’ takes market by surprise

©Getty It’s become known in the coffee market as the “July squeeze”. A group of traders and coffee roasters stand to lose millions of dollars at the end of this week as a rival dealer…


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Irish elite testify at banking inquiry

©AFP The Galway races, Ireland’s leading horseracing festival and a highlight of the social calendar, got under way this week. But the wealthy elite who made the event a prize networking opportunity during the Celtic…


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ICT 2015 Exhibition – online catalogue of exhibitors

During the 3-day event (20-22 October 2015 in Lisbon), an interactive exhibition will dynamically showcase the best-in-class results of the existing European ICT Research & Innovation; advanced products from individual companies that started, have grown and…


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New Deutsche chief blunt on outlook

©Bloomberg Deutsche Bank’s new chief executive delivered a blunt assessment of the array of challenges facing Germany’s biggest lender, even as the bank’s second-quarter results beat analysts’ expectations. Overall, Deutsche posted a net profit of…


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Tunisia and Greece hit Thomas Cook

Thomas Cook said it evacuated more than 15,000 people from Tunisia following the attack Travel firm Thomas Cook has said its full-year profits will be hit by about £25m because of the impact of recent…


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Weak euro cushions Siemens profit drop

©Bloomberg The weak euro cushioned another mixed quarter for Siemens after the German engineering conglomerate was hit by falling profits at its core power and gas division and weaker demand in China. Revenues jumped 8…


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RBS sell-off plans boosted by profit

©Bloomberg Ross McEwan Royal Bank of Scotland has reported a profit in the second quarter despite restructuring and misconduct costs while bolstering capital strength, boosting government plans to begin selling its stake in the state-backed…


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Royal Dutch Shell to cut 6,500 jobs

Oil giant Royal Dutch Shell has announced it is to shed 6,500 jobs as part of cost cutting plans. The company said the cost cutting was to help “mitigate the impact” on profits amidst a…


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Shell to cut 6,500 jobs, capital spending

©Bloomberg Royal Dutch Shell is cutting 6,500 jobs and is to reduce capital spending by 20 per cent this year, as the oil company takes dramatic action in response to the plunge in oil prices….


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Nokia profits rise in second quarter

©AFP Nokia reported a pick-up in sales and profits in the second quarter, with operating profit at the core networks business, which fell sharply in the first quarter, up 11 per cent compared to the…