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Aug 9, 2013

America Movil makes $9.6 billion bid for rest of KPN

MEXICO CITY/BRUSSELS (Reuters) – Mexican billionaire Carlos Slim’s America Movil (AMX.N: Quote, Profile, Research, Stock Buzz) has made a 7.2 billion euro ($9.6 billion) bid for the shares in Dutch telecoms group KPN (KPN.AS: Quote, Profile, Research, Stock Buzz) it does not already own, challenging a rival offer for KPN’s German business.

Spain’s Telefonica (TEF.MC: Quote, Profile, Research, Stock Buzz) last month made an $11 billion bid for KPN’s prized German arm E-Plus, casting doubt over America Movil’s European investments. As well as a near 30 percent stake in KPN, America Movil has 24 percent of Telekom Austria (TELA.VI: Quote, Profile, Research, Stock Buzz) and on paper has lost money on both deals.

Aug 8, 2013

Delhaize lifts profit forecast as cost cuts bear fruit

BRUSSELS, Aug 8 (Reuters) – Belgian grocer Delhaize
beat second-quarter profit expectations and nudged up
its full-year forecast, sending its shares to a two-year high on
signs a cost-cutting drive in its main U.S. market is paying
off.

Delhaize makes about two-third of its revenues in the United
States and has been cutting costs, including renegotiating terms
with suppliers, and revamping its main Food Lion chain to
counter stiff competition and sluggish consumer spending.

Aug 8, 2013

Delhaize lifts profit forecast as cost cuts bear fruit

BRUSSELS, Aug 8 (Reuters) – Belgian grocer Delhaize
beat second-quarter profit expectations and nudged up
its full-year forecast, sending its shares to a two-year high on
signs a cost-cutting drive in its main U.S. market is paying
off.

Delhaize makes about two-third of its revenues in the United
States and has been cutting costs, including renegotiating terms
with suppliers, and revamping its main Food Lion chain to
counter stiff competition and sluggish consumer spending.

Jul 31, 2013

Solvay cuts profit outlook after guar gum bubble pops

BRUSSELS, July 31 (Reuters) – Brussels-based chemicals firm
Solvay cut its profit forecast for 2013 on Wednesday
to reflect a drop in demand from oil and gas companies for guar
gum, which is used in shale gas extraction, the process known as
fracking.

Solvay said it expected its core profit to be broadly the
same as the amount it made in 2012, whereas it had said in May
it hoped to improve on last year’s performance.

Jul 18, 2013

China widens drug industry probe, visits Belgium’s UCB

BRUSSELS/LONDON (Reuters) – Belgian drugmaker UCB has been visited by Chinese authorities as the country widens investigations into bribery by drugmakers, following allegations against Britain’s GlaxoSmithKline.

A spokesman for UCB said on Thursday that officials were also investigating a number of other drug companies with operations in the country, although he did not identify them.

Jul 1, 2013

EU confronts U.S. over surveillance reports

BRUSSELS/BERLIN (Reuters) – The European Union has demanded that the United States explain a report in a German magazine that Washington is spying on the group, using strong language to confront its closest trading partner over its alleged surveillance activities.

EU High Representative Catherine Ashton said on Sunday the U.S. authorities was immediately contacted about a report in Der Spiegel magazine that the U.S. spy agency had tapped EU offices in Washington, Brussels and at the United Nations.

Jun 30, 2013

EU confronts U.S. over reports it spies on European allies

BRUSSELS/BERLIN, June 30 (Reuters) – The European Union has
demanded that the United States explain a report in a German
magazine that Washington is spying on the group, using unusually
strong language to confront its closest trading partner over its
alleged surveillance activities.

A spokeswoman for the European Commission said on Sunday the
EU contacted U.S. authorities in Washington and Brussels about a
report in Der Spiegel magazine that the U.S. secret service had
tapped EU offices in Washington, Brussels and at the United
Nations.

Jun 30, 2013

EU confronts Washington over reports it spies on European allies

BRUSSELS/BERLIN (Reuters) – The European Union has demanded that the United States explain a report in a German magazine that Washington is spying on the group, using unusually strong language to confront its closest trading partner over its alleged surveillance activities.

A spokeswoman for the European Commission said on Sunday the EU contacted U.S. authorities in Washington and Brussels about a report in Der Spiegel magazine that the U.S. secret service had tapped EU offices in Washington and Brussels and at the United Nations.

Jun 24, 2013

EU’s drug data stance threatens investment -Sanofi CEO

BRUSSELS, June 24 (Reuters) – A decision by Europe’s drug
regulator to release detailed data on drugs once a medicine is
approved could discourage critical investment in crisis-hit
Europe, Sanofi’s chief executive said.

Chris Viehbacher, who took over as president of the European
Federation of Pharmaceutical Industries and Associations (Efpia)
on Monday, said companies would invest in regions where they
felt welcome.

Jun 6, 2013

Belgian post service eyes $3.9 bln stock market debut

BRUSSELS, June 6 (Reuters) – Belgium’s post service plans to
make its stock market debut this month with a valuation of up to
3 billion euros ($3.9 billion), seeking to persuade investors it
can cope with competition from email and tap rising demand for
parcel delivery.

The initial public offering (IPO), the first in Belgium for
more than three years, will be closely watched in Britain, which
is looking at floating the Royal Mail later this year in what
would be its biggest privatisation for 20 years.

    • About Ben

      "I am based in the Reuters Brussels office and I cover small and mid-size companies in Belgium and The Netherlands. Before I moved to Belgium I was based in the Reuters London office and wrote about biotechnology and chemical companies."
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