German rail operator Deutsche Bahn's initial public offering will not go ahead as planned on Oct. 27, but will be delayed until market conditions improve, sources close to the company said on Thursday. The partial privatisation of Deutsche Bahn is set to be Germany's biggest IPO in eight years, but a postponement would make it
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Big member states have long blocked closer regulatory integration that might have prepared the European Union better for the current financial crisis, the head of the EU's executive arm said on Thursday. "We all know that before this crisis there was no chance to introduce more European regulation. Some of the most relevant member states
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France, Belgium and Luxembourg pledged to guarantee new borrowing by Dexia SA to bolster last week's public bailout, restoring some confidence in the world's largest municipal lender. Belgian Prime Minister Yves Leterme told a news conference on Thursday that the three countries would back until Oct. 31, 2009 new bonds and interbank or institutional financing
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– Finance ministers from the world's top economies faced calls on Thursday for united action after an emergency round of interest rate cuts and government support for ailing banks won only muted market support. The United States signalled it could consider buying into banks to help get frozen funds flowing again and governments in Europe
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LONDON, Oct 9 (Reuters) – European shares extended their day's gains in afternoon trade on Thursday, up 2 percent as U.S. stock futures rose strongly and the previous day's concerted global rate cut helped to soothe worried investors. At 1254 GMT, the FTSEurofirst 300 index of top European shares was up 2 percent at 959.14
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The Board of Directors of Bank of Cyprus Public Company Ltd will convene on Thursday 6 November 2008 to examine the Bank of Cyprus Group financial results for the nine months ended 30 September 2008 as well as the payment of an interim dividend. On the same day, after the market close, the financial results
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Interfund Investments Pcl (INF.CY) reported a massive deterioration in its performance as at end of September 2008, with the company’s total assets shrinking by a massive EUR 55.14 mln to EUR 45.9 mln compared to EUR 101.13 mln a year ago in September. The Company’s NAV as at 30 September 2008 tumbled by 55% to
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The outlook for European retailers is negative, as a combination of more restrained consumer spending and higher input costs for core items such as food and energy weigh on companies' performance, said Moody's Investors Service in a new report. As a result of the downturn in consumer spending, Moody's rating actions in the sector have
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The outlook for the European beverage industry is stable, despite a difficult economic climate, Moody's Investors Service said in a new report. The companies have sparked revenue growth and mitigated costs by retaining a large portfolio of brands at various price points, including premium products. They have also enacted strategic price increases, cut costs and
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Large investments will be required to ensure the continuity of power to the Arabian Gulf region due to growing electricity demand, Moody's Investors Service said in a new Special Comment, entitled "Arabian Gulf Electricity Industry". Unprecedented economic and demographic growth is creating a strain on power supplies in the region. "Moody's believes that these exceptional
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