Business in EuropeEuropean Economy Business Blog |
AP - Reinsurer Munich Re AG said Friday that it barely eked out a profit in the third quarter as its investments were hurt by falling stock markets, forcing the company to abandon its full-year earnings forecast for the second time this year.
AP - British Airways PLC on Friday reported a first-half loss of 49 million pounds ($77 million), as chief executive Willie Walsh said record high oil prices and a global economic slowdown meant the period would "be remembered as one of the bleakest on record."
AP - Asian stock markets turned in a mixed performance Friday, but most recoiled from their lows despite a grim profit forecast from Toyota and sluggish U.S. economic data. European markets opened higher.
AP - Poland said Friday it plans to join what it said would be a $6 billion aid package for Iceland along with Britain, the Netherlands and Scandinavian countries to help the island nation salvage its collapsed financial system.
AP - Reinsurer Munich Re AG said Friday its net profit for the third-quarter almost disappeared compared to a year go as its investments were hit by the financial crisis, forcing the company to abandon its 2008 target in the wake of the global financial crisis.