Tag: European Union

US, Europe swap air security information at laptop ban talks

BY LORNE COOK AND LORI HINNANT BRUSSELS (AP) — European Union and U.S. officials swapped information Wednesday about threats involving air travel amid concern that the United States will soon broaden its ban on in-flight laptops and tablets to include planes from Europe. The White House has defended the decision by U.S. President Donald Trump to discuss with Russian officials an Islamic State group terror threat related to the use of laptops on aircraft. EU officials have been waiting for details about the threat. In a joint statement, the EU’s transport and migration commissioners plus senior Department of Homeland...

Read More

Big week for markets: Brexit, Fed and elections to collide

BY PAN PYLAS LONDON (AP) — Investors around the world are bracing for a series of events this week that could potentially cause waves in markets. And, for once, they’re not directly about U.S. President Donald Trump. From the expected launch of Britain’s exit from the European Union to the Federal Reserve’s discussion of another interest rate hike, there’s a lot that could cause volatility and even put a brake on the so-called Trump Bump, the months-long rally in stocks. “This week is most unusual from a macro point of view as there is a heavy concentration of ‘event...

Read More

GM sells European brands to France’s Peugeot

BY ANGELA CHARLTON AND TOM KRISHER – ASSOCIATED PRESS PARIS (AP) — General Motors is selling its unprofitable European car business to the French maker of Peugeot, marking the American company’s retreat from a major market and raising concerns of job cuts in the region. With the 2.2 billion euro ($2.33 billion) deal announced Monday, GM is giving up brands – Opel in Germany and Vauxhall in Britain – that have given it a foothold in the world’s third-largest auto market since the 1920s. They have not, however, made a combined profit in the past 18 years despite multiple...

Read More

US musician makes mics in Russia using Kalashnikov machinery

NATALIA SUVOROVA – ASSOCIATED PRESS TULA, Russia (AP) — Claims of hacking by the Russian state may be feeding international tensions, but they’ve given Californian musician David Brown a great icebreaker when selling his line of Russian-made microphones. “We give free hacking lessons with these microphones,” he tells potential buyers in Los Angeles. “Watch what you say because they never turn off.” Brown, who’s often toured Russia with his band Brazzaville, teamed up with fan Pavel Bazdyrev in 2013 to start making top-end musical equipment in Bazdyrev’s home city of Tula, which is dominated by the Russian defense industry....

Read More

Zombie banks are stalking Europe’s economy

FRANKFURT, Germany (AP) — The walking dead are gnawing at Europe’s weak economy – zombie banks and zombie companies. Almost a decade after the financial crisis that ravaged the global economy, analysts and top officials are warning that too many banks in Europe are struggling financially, keeping them from lending to companies and fostering growth. Calls to fix the problem have come repeatedly from the International Monetary Fund, U.S. Treasury Secretary Jacob Lew, and European Central Bank chief Mario Draghi. They say something has to be done if Europe’s economy is to gain more traction and bring down unemployment....

Read More