Yves Mersch, ECB board member, projected the completion of the staff complement for the regulatory authority by late 2014.
Europe
Fiat buys out GM in VM Motori
Fiat buys out GM to become sole owner of diesel engine manufacturer VM Motori. Fiat, the Italian carmaker, had laid out plans to takeover VM Motori, the Italian diesel engine manufacturer.
ThyssenKrupp gets break, obtains extension of credit lines
In a move designed to avoid default, ThyssenKrupp was able to receive an extension of its credit lines from banks before its planned share sale.
A look at inside Germany's trillion euro banking blind spot
The banking system of Germany had increased the need for reforms that are seen to be very difficult to accomplish by any new government.
Huawei set to continue European expansion plans
Despite allegations of anticompetitive behavior, Huawei continued with expansion plans to Europe. Huawei, Chinese telecommunications equipment manufacturer, had laid out plans to create 5,500 jobs in Europe within five years.
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In a bid to cut overall costs, RWE had laid out plans to sell off assets to financial investors as well as cut down on its employee headcount.
European policymakers were in for disappointment no matter what the outcome of the election would be, a Reuters analysis showed.
A business magazine reported that Gerhard Cromme would leave the board of Axel Springer to concentrate on his role at Siemens.
Sotheby's said it would auction Moet & Chandon Champagne back to 1914 vintage in November. The back to the 1914 vintage Moet & Chandon Champagne would be auctioned at Sotheby's on November 13.
Hedge funds that gambled on Lehman Brothers expected huge payouts as administrators finished recovering assets.
European Commissioner Algirdas Semeta said work would continue on the proposed financial transaction tax.
Germany's new leaders after its recent elections would reflect the future of not only the country but of the EU as well.
The latest German elections predicts a win for Chancellor Merkel with a slim margin. German Chancellor Angela Merkel, according to pollwatchers, would most likely win but had to fight to the last vote to keep her majority in the German parliamentary elections.
Italian fashion house Versace announced through its CEO Gian Giacomo Ferraris that the company had been expected a final shortlist of buyers interested in the company's minority stake by mid-October.
