BRUSSELS, March 27 (Reuters) – Belgian chocolate makers
believe their renowned pralines should have similar protection
to that enjoyed by French champagne or Italy’s Parma ham.
They want the term “Belgian chocolate” to be their exclusive
preserve and also want to crack down on foreign rivals dressing
up their products as “Belgian style” or of a “Belgian recipe”.
BRUSSELS, March 15 (Reuters) – ArcelorMittal, the
world’s largest steelmaker, set out a new $3 billion savings
plan to restore steel margins to levels unmatched since the
crisis struck in 2008.
The new plan is the latest step in its aggressive response
to steel sector problems that include a nine percent slide in
demand in the European Union last year.
BRUSSELS (Reuters) – Japan is not truly interested in opening up its economy to imports and upcoming free-trade negotiations are a “masquerade”, according to a senior executive of Ford Motor Company (F.N: Quote, Profile, Research, Stock Buzz).
Japan is set to launch trade talks with the European Union later this month and its prime minister said on Friday it would seek to join talks on a U.S.-led Pacific free-trade pact, which could be agreed by the end of the year.
BRUSSELS (Reuters) – Eli Lilly and Co will maintain its dividend despite the erosion of its earnings by generic copies of blockbuster drugs and should be well placed by the end of 2013 to assess the potential of its future medicines, its chief executive said.
The U.S. drugmaker suffered a 7 percent drop in revenue last year and a 6 percent decline in net profit after it lost U.S. patent protection of top-selling schizophrenia drug Zyprexa.
BRUSSELS (Reuters) – The European Commission is proposing long-term import duties on ceramic plates and other tableware and kitchenware from China even though a majority of EU member states opposed their imposition late last year.
The EU’s executive body is recommending definitive duties of between 13.1 and 36.1 percent, a lower rate than the provisional duties set in November.
BRUSSELS (Reuters) – Anheuser-Busch InBev (ABI.BR: Quote, Profile, Research, Stock Buzz), the world’s biggest brewer, forecast a pick up in sales in Brazil and easing cost pressures in the United States would help it bounce back from a slow start to the year in its two largest markets.
The maker of Budweiser and Stella Artois makes about 80 percent of revenue in the Americas, shielding it from recession-hit Europe but still giving it a mix of trading conditions with fast-growing emerging markets and a more mature U.S. business.
BRUSSELS (Reuters) – Nationalised Franco-Belgian lender Dexia (DEXI.BR: Quote, Profile, Research, Stock Buzz) posted a second year of heavy losses in 2012 after fire sales, higher funding costs and asset writedowns, and forecast another loss this year.
The company, once the world’s largest municipal lender, is almost an irrelevance as an investment, with shares that are hardly traded valued at just 0.04 euros, compared with a May 2007 peak of 22.56 euros.
BRUSSELS/BERLIN, Feb 14 (Reuters) – The euro zone slipped
deeper than expected into recession in the last three months of
2012 after its largest economies, Germany and France, shrank at
the end of a wretched year for the region.
It marked the currency bloc’s first full year in which no
quarter produced growth, extending back to 1995. For the year as
a whole, gross domestic product (GDP) fell by 0.5 percent
BRUSSELS, Feb 14 (Reuters) – Anheuser-Busch InBev,
the world’s largest brewer, has revised the terms of its $20.1
billion takeover of Mexican brewer Grupo Modelo to
overcome U.S. government objections that it would have
The U.S. Department of Justice (DOJ) filed a lawsuit to
block the deal on the grounds that it removed an independent
competitor and could have led to higher U.S. beer prices.
BRUSSELS (Reuters) – The United States and European Union aim to start negotiating a vast Transatlantic free trade pact by June, though the plan confirmed on Wednesday faces many hurdles before it might help revive the world’s top two economies.
A deal would be the most ambitious since the founding of the World Trade Organization (WTO) in 1995, embracing half of world output and a third of all trade. It reflects impatience with the lack of a new global agreement to cut tariffs and ease commerce.