Atrium European Real Estate is suing its founder, Austrian coffee roasting heir Julius Meinl V, and his bank for over 2 bln euros in damages, it said on Wednesday. The surprise claims come two years after a group led by Israeli investor Gazit Globe struck a deal with Meinl under which it took over control

Japan's Nikkei average fell 2.7 percent on Wednesday, marking its worst day in nearly a month as a stronger yen deepened worries about the longer-term prospects for Japan's economy and the technical outlook darkened. The dollar slid against the Japanese currency after the Federal Reserve announced plans to boost a flagging U.S. economy by reinvesting

Royal Bank of Scotland, a major creditor of English soccer club Liverpool Football Club, is supporting the club's sale by offering financing to potential buyers, banking sources familiar with the matter said. Banking sources said that RBS was discussing financing terms with potential lenders before Friday's bid deadline. "RBS is trying to facilitate the sale

British Prime Minister David Cameron pledged on Tuesday to crack down on benefit fraud and to cut waste in the welfare system as a step towards cutting the record peacetime budget deficit. "In our benefit system there is about 1.5 bln pounds claimed every year by people who aren't entitled to claim that money. That

Moody's Investors Service has downgraded the issuer rating for Aldar Properties PJSC, one of the largest property developers in Abu Dhabi, by two notches to Ba3 from Ba1 and assigned a probability of default rating (PDR) of Ba3. Moody's has also implemented a three-notch downgrade to B1 from Ba1 of the ratings for Aldar's USD

Greece's budget shortfall shrank 39.7 percent for the first seven months of the year compared with the same period last year, the finance ministry said on Tuesday. The central government budget deficit, which excludes spending by local government and social security organisations, stood at 12.1 billion euros compared with 20.1 billion euros in the same

Saudi Arabia hopes to nearly halve unemployment by the end of 2014 by spending $385 billion on schools, hospitals and other infrastructure projects. Ageing King Abdullah is under pressure to create jobs and build housing as the population grows and unemployment rises in the biggest Arab economy and the world's top oil exporter. Two-thirds of

 The rate of inflation for July 2010 rose to 2.7%, according to the latest data released by the Statistical Service (CyStat). The Harmonized Index of Consumer Prices (HICP) for July 2010, records an increase of 2.7% compared with 2.1% in June 2010 and 0.8% in July 2009. For the period January-July 2010, the HICP recorded

Popular apathy, control over the media and a lack of potent opposition will ensure that Moscow's ruling duo do not suffer seriously from disastrous summer fires as president George W. Bush did from his administration's slow response to catastrophe. Although a record-breaking summer heatwave found Russia's authorities ill-prepared to fight the fires and slow to