Russia on Monday scrapped the South Stream pipeline project to supply gas to southern Europe without crossing Ukraine, citing EU objections, and instead named Turkey as its preferred partner for an alternative pipeline, with a promise of hefty discounts.
Tags: Europe
Ukraine expects Russian gas supplies to resume Monday: minister
Ukraine expects Russia to resume supplies of gas from Monday after Kiev transferred a pre-payment of $378 million to Gazprom, its energy minister said on Sunday.
U.S. ready to help Hungary build energy independence: diplomat
The United States is willing to help Hungary and other European countries build energy infrastructure to reduce its dependence on Russian oil and gas, U.S. Chargé d'Affaires in Budapest André Goodfriend has told Nepszava newspaper.
France, Germany suspend some drug approvals over Indian data
Regulators in France, Germany, Belgium and Luxembourg are suspending the marketing approval of 25 generic drugs due to concerns over the quality of data from clinical trials conducted by India's GVK Biosciences, French watchdog ANSM said on Friday.
Majority of Air France pilots back low-cost unit deal
A majority of Air France (AIRF.PA) pilots backed a deal reached in October to develop the company's low-cost operations in France, the airline said on Wednesday.
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Chinese billionaire Guo Guangchang is set to sweeten his bid for the struggling French holiday group Club Mediterranee (CMIP.PA) to trump Italian tycoon Andrea Bonomi's offer in France's longest-running takeover battle.
Oil prices fell to their lowest in five years on Monday, hit by slowing factory activity in China and Europe and hammering emerging market stocks and commodity-linked currencies.
A European satellite beamed images to earth using new laser-based communications technology on Friday, opening the way for uninterrupted and near instantaneous viewing of natural disasters being sent to governments and relief agencies.
Britain's Merlin Entertainments is to open a Legoland theme park in South Korea, as part of its long term expansion plans to generate more of its income from overseas markets.
The European Commission should be able to veto national budgets if they breach the European Union's common fiscal rules, German Finance Minister Wolfgang Schaeuble said on Friday.
Saudi Arabia's oil minister told fellow OPEC members they must combat the U.S. shale oil boom, arguing against cutting crude output in order to depress prices and undermine the profitability of North American producers.
Saudi Arabia blocked calls on Thursday from poorer members of the OPEC oil exporter group for production cuts to arrest a slide in global prices, sending benchmark crude plunging to a fresh four-year low.
Subdued food price inflation in Europe is unlikely to pick up any time soon, adding to the pressure on mainstream grocers as they struggle with changing shopping habits and competition from discounters.
Fading hopes OPEC will cut production when it meets Thursday sent oil prices tumbling to a four-year low and the world stock-market rally paused for Thanksgiving in the United States.
