Struggling cafe owner Julie Mangan rolls her eyes at talk of packed restaurants and queues for house viewings in Dublin as proof that Ireland's battered economy is finally on the mend. With two consecutive years of growth, falling unemployment and the property market showing signs of life, Ireland is being held up by European leaders
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At least 36 people died after a coach plunged more than 15 metres (49 feet) off a viaduct in southern Italy on Sunday, a spokesman for the fire service said. Eleven people were pulled out alive from the stricken coach and taken to hospital, some with serious injuries, the spokesman said. Rescue operations are ongoing,
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Despite a flurry of reports over the weekend, no agreement seems to have been reached on the rate of the haircut on Bank of Cyprus deposits exceeding 100,000 euros, with reports ranging from 45 to 47.5%. The government wants a smaller haircut and the Central Bank of Cyprus is pushing for harsher measures. The official
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The outlook for the European tobacco industry will remain stable over the next 12-18 months, reflecting an expected slowing of operating profit growth to around 4.5%-5.5% versus the previous expectation of 7% growth, Moody's said in its latest Industry Outlook, changing the outlook for the industry to ‘stable’ from ‘positive’ in June 2013. "We expect
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Barclays will this week say how it plans to meet tougher UK rules on capital, while strong earnings from Lloyds Banking Group will pave the way for Britain to sell some of its shares in the bank. Barclays, which publishes results on Tuesday, is expected to set out plans either to sell bonds that are
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The yen rose to a one-month high against the dollar on Monday as investors braced for another round of disappointing economic news out of China, knocking Japanese stocks to four-week lows and pulling down regional markets. Investors gave the dollar a wide berth as they also suspect the U.S. central bank will press home the
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Greek shipowner Victor Restis has been imprisoned pending trial on money laundering and embezzlement charges, making him one of only a few prominent businessmen to be jailed amid public anger over corruption. Restis, who owns a shipping fleet and has a stake in Greece's top-selling newspaper, is being investigated over bad loans of up to
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Only 500 of the 5,700 staff at the Bank of Cyprus and former Popular Laiki have accepted the voluntary redundancy package offered by management, but still falls short of a target of 1,500 staff that need to be reduced. However, the plan has been extended by a week as negotiations with the militant trade union
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The promoters of the non-profit project “Cyprus Walk of Fame” are inviting budding designers to submit their own logo and main visual for the 60cm square tiles that will be placed in an as-yet undetermined street in Limassol. The town’s mayor, Andreas Christou, said the municipality has been discussing the project with the promoters for
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The Cyprus government is expected to take a final decision over the next two weeks regarding the interim solution for the supply of natural gas to the island and the subsequent reduction of the cost of electricity. Energy Minister Giorgos Lakkotrypis said after a meeting with President Nicos Anastasiades and other state energy officials, “A
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