adminEU leaders tackle youth joblessness
BERLIN. — German Chancellor Angela Merkel hosted European leaders yesterday to jointly tackle mass youth unemployment but the show of unity was clouded as EU heavyweights Berlin and Paris differed in their response to US spying claims.
The art of getting debtors to talk
Tonderai Gwangwawa Business CorrespondentGETTING debtors to open up and share their RFDs (reason for default) is an art. Instead, many debtors use excuses and broken promises so as to cover up any payment inadequacy.
US services sector slows down
WASHINGTON. — The US services sector slowed in June but there were was a pick-up in hiring, according to an ISM report released yesterday.The Institute for Supply Management said business activity in the massive services sector fell to 52,2 on its purchasing managers index from 53,7 in May.
German minister due in Greece
BERLIN. — German Foreign Minister Guido Westerwelle was due in Greece yesterday for talks with its reshuffled government ahead of a progress report which conditions the next payment of bailout cash.Shell worried over vandalism
LAGOS. — Shell Petroleum Development Company of Nigeria Limited has raised concern over the rising cases of sabotage on its facilities.The oil giant said that it recorded eight incidences of vandalism on its pipelines at the Adibawa field in Eastern Niger Delta recently, leading to the spilling of about 500 barrels of
Chinese firm eyes PSA Peugeot stake
SHANGHAI. — China’s second biggest carmaker has held talks about buying a stake in troubled French car firm PSA Peugeot Citroen, a state-backed newspaper said yesterday.Thierry Peugeot, chairman of Peugeot’s supervisory board, had “pinned his hopes” on Dongfeng Motor, which already has a joint venture with the group, the 21st Century Business
Eurozone recession eases: Survey
BRUSSELS. — The eurozone recession eased at the end of the second quarter, opening hope of a return to growth in the second half of the year, final data from a key survey signalled yesterday.EU ready to grant Italy’s ‘public deficit’ request
STRASBOURG. – The European Commission said yesterday it was ready to accept an Italian request to modify the way public deficits are calculated, which would give Rome more leeway in spending while still respecting EU demands to keep the deficit below 3 percent of gross domestic product.Cyprus president meets ECB head over bailout
NICOSIA. – European Central Bank chief Mario Draghi yesterday met Cyprus President Nicos Anastasiades in Frankfurt to help the eurozone member tackle its daunting bailout terms, an official statement said.Crisis-hit Portugal urged to ‘take responsibility’
THE HAGUE. – Eurogroup chief Jeroen Dijsselbloem yesterday called on Portugal to take responsibility amid a political crisis that threatened to bring down the government.“The situation is worrying. So I’m calling on Portugal to take responsibility,” Dijsselbloem, who is also finance minister of the Netherlands, told the Dutch parliament.