The ongoing recession in Greek economy after long-lasting uncertainty is projected to end in 2016 and may witness real growth in 2017, according to European Commission (EC). The unsuccessful conclusion of second adjustment program of bailout package continued and worsened the economic recession in the ailing Greece economy further weakened the recovery prospects in the first half of 2015.
Europe
Beck's Beer Maker Formalized a $106 Billion Deal Acquisition of SABMiller
Anheuser-Busch (AB) InBev NV, maker of the world's most famous beer has achieved a formal agreement to buy SABMiller PLC in a $106 billion deal. However, the deal will face a long process to pass regulatory approval in countries like from U.S., to India and China.
The world’s first driverless bus will hit Switzerland roads in 2016
Swiss-based startup BestMile announced that it will begin on-road commercial trials of its autonomous bus system next year. The on-road trial will run for two years to test how well the vehicles operate in real-life traffic.
Maersk Buys $845 million of Africa Oil Corp. assets
AP Moeller-Maersk will buy $845 million worth of Africa Oil Corp.'s shares to revive a declining energy unit in the North Sea. According to Bloomberg Business, Maersk will buy the African oil company's onshore exploration license in Kenya, and two more in Ethiopia.
Markets upbeat on Monte Paschi bank's higher capital
The world's oldest bank Banca Monte dei Paschi di Siena SpA has announced encouraging levels of capital. The Italian banking major's common equity Tier-I ratio is up at 11.7 percent by the end of September from 10.7 percent in June.
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German industrial production went down 1.1 percent month-on-month for the third quarter. According to Bloomberg Business, Berlin Economy Ministry reported the decline Friday, while economists expected a 0.5 percent increase. Germany has been struggling with the Chinese economic slowdown. The country is also grappling with the economic slowdown in other emerging countries where it exports most of its products.
Swedish-digital writing company Anoto has agreed to acquire California-smartpen maker Livescribe for $15 million. The agreement was announced on November 6 by Livescribe, which has a licensing partnership with Anoto since its foundation in 2008, according to a report from Venture Beat. Anoto Group AB operates in the consumer, healthcare, finance, transportations, and education industries.
The TalkTalk hacks that happened late October may have died down, but recent details shows that the number of victims that were initially reported isn't as it seems. According to BBC News, there are now a total of 156,959 customers that had their personal details accessed through the hack. 15,656 bank accounts were taken from those customers.
Britain has unveiled new surveillance law plans that will allow the police and security services to access the records of internet activity of everyone in the country without any judicial check. The new surveillance powers aimed to keep the country safe.
Amec Foster Wheeler Plc, a British oil and gas services company, has reduced its dividend payout by 50 percent as continuous fall in oil prices puts pressure on customers' spending.
The UK government is trying to pass a bill that would ban strong end-to-end encryption that could force Apple to stop selling its iPhone in that country. According to Forbes, the UK government plans to pass legislation that would prohibit the use of strong encryption, which means any encryption they can't break is not allowed.
Due to the lower cost of regulatory fines, HSBC's pre-tax profit in the third quarter increased 32 percent to $6.1 billion from $4.6 billion in the same period last year, beating analysts' expectations of $5.2 billion.
Europe's major antitrust regulator has opened an "in-depth investigation" on Hutchison's $14 billion acquisition of Telefonica UK's O2 operations. According to The Wall Street Journal, top European Union officials have been warning that mobile-phone mergers in concentrated markets can lead to higher prices and less options for consumers.
Hacked TalkTalk customers' bank details are now up for sale for just over a £1 each in black market websites. Express reported that the details emerged online Sunday.
