Nations urge EU to contain China row
'Business Post' investor's pledge
A group of free-trading northern European nations have urged the EU's trade chief to contain a growing dispute with China or risk a negative spiral that could choke exports.
Sweden, Denmark and the Netherlands yesterday said EU trade commissioner Karel De Gucht needed to find a diplomatic solution with Beijing to avoid a tit-for-tat trade war, after Brussels imposed tariffs on Chinese solar panels and Beijing retaliated with an investigation into European wine.
THE investor poised to take over 'The Sunday Business Post' will plough €750,000 into the newspaper if the High Court approves the rescue package.
Mr Justice Peter Kelly will next week consider whether to approve the plan which could see the newspaper continue to publish. Under the terms of the plan, staff at the paper, which employs 76 people full time, have accepted revised terms and conditions and nine voluntary redundancies have taken place.
BRITISH HOUSE PRICES HIT HIGH
House prices in England and Wales increased to their highest ever levels in May as government measures to ease credit strains improved the availability of mortgages.
The average cost of a home rose 0.4pc from April to £233,061 (€274,335), according to reports published in London. Prices were up 2.7pc from a year earlier.
MERKEL RECOMMITS TO TRANSACTION TAX
Chancellor Angela Merkel said that the German government is listening to investor complaints about the proposed financial transactions tax and will take their views into account when designing the levy at a European level.
Ms Merkel yesterday recommitted her government to the tax, citing the disparity between commercial transactions subject to value-added tax and financial transactions that are "basically free".
US CONSUMER CONFIDENCE EASES
US consumer confidence in June eased from a six-year high as progress in the labour market supported Americans' views of the economic outlook.
A preliminary index of consumer sentiment declined to 82.7 in June from 84.5 the prior month that was the highest since July 2007, a report yesterday showed. Steady hiring gains coupled with rising equity prices and property values are underpinning Americans' confidence.