MADRID — Warning that very hard times lie ahead for Spain, the country's next prime minister said his incoming conservative government aims to reduce the country's deficit by €16.5 billion ($21.6 billion) next year.

In a keenly awaited speech to Parliament a month after being...

 STOCKHOLM — Saab Automobile filed for bankruptcy on Monday, giving up a desperate struggle to stay in business after previous owner General Motors Co. blocked takeover attempts by Chinese investors.

Saab CEO Victor Muller personally handed in the bankruptcy application to a...

 LONDON — The British government will restructure the country's banks by separating their retail activities from riskier investment banking operations, Business Secretary Vince Cable said Sunday.

Cable said the government will comply with the recommendations of an independent...

 LONDON - The process by which Britain decided to award a key rail contract to Siemens AG , which led incumbent Bombardier Inc to cut hundreds of jobs at its British plant, will be subject to an official review, a committee of MPs said on Friday.

In June, Britain awarded a...

 LONDON - Management consultant Rupinder Sidhu was found guilty of 22 counts of insider dealing and sentenced to two years in prison by a London court on Thursday.

The Financial Services Authority said Sidhu, with Anjam Ahmad, an ex-hedge fund trader and risk manager at AKO...

 LONDON - Lloyds Banking Group CEO Antonio Horta-Osorio said he would focus more on strategy and less on day-to-day issues when he returns to work in January after being forced to take a two-month break because of exhaustion.

Horta-Osorio, 47, said he was still taking "mild...

 BERN - The Swiss National Bank says it will continue to artificially depress the value of the franc by buying up euros at 1.20 francs.

Switzerland's central bank says it still considers the francs to be overvalued and expects the currency to weaken over time.

...

 LONDON - Thomas Cook reported full-year operating profit at the bottom end of forecasts and said it would close 200 underperforming shops, as it looks to cut debt and restore investor confidence.

Europe's second biggest travel firm by sales, which secured a rescue package from...

LONDON — Inflation in the United Kingdom fell to 4.8 percent in November, official figures showed Tuesday, boosting confidence that the recent run of big price rises increases is ending.

November's rate, announced by the Office for National Statistics, represents the second straight...

 JERUSALEM - Cyprus has given Noble Energy permission to transfer 30 percent of the U.S.-based company's rights on the Block 12 natural gas field to Israel's Delek Group a Delek subsidiary said.
In a statement to the Tel Aviv Stock Exchange, Delek Drilling LP said it would receive 15...